Pruco Life Insurance 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Entity Registrant Name	PRUCO LIFE INSURANCE CO
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	033-37587
Entity Central Index Key	0000777917
Entity Incorporation, State or Country Code	AZ
Entity Tax Identification Number	22-1944557
Entity Address, Address Line One	213 Washington Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	802-6000
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		250,000

Unaudited Interim Consolidated

Unaudited Interim Consolidated Statements of Financial Position - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Fixed maturities, available for sale, at fair value (allowance for credit losses: 2023-$4,923; 2022-$4,769) (amortized cost: 2023–$25,557,874; 2022–$21,311,087)	$ 23,441,750	$ 19,025,401
Fixed maturities, trading, at fair value (amortized cost: 2023–$3,180,933; 2022–$2,682,022)	2,477,679	1,936,159
Equity securities, at fair value (cost: 2023– $376,623; 2022–$148,179)	379,574	143,072
Policy loans	1,432,850	505,367
Short-term investments	308,363	124,491
Commercial mortgage and other loans (net of $22,093 and $20,263 allowance for credit losses at June 30, 2023 and December 31, 2022, respectively)	5,382,278	4,928,680
Other invested assets (includes $163,579 and $116,110 of assets measured at fair value at June 30, 2023 and December 31, 2022, respectively)	1,207,395	1,088,613
Total investments	34,629,889	27,751,783
Cash and cash equivalents	1,780,991	2,397,627
Deferred policy acquisition costs	6,784,291	6,930,425	[1]
Accrued investment income	283,585	219,635
Reinsurance recoverables	37,667,480	37,096,562	[1]
Receivables from parent and affiliates	267,218	224,921
Deferred sales inducements	366,916	381,504	[1]
Income tax assets	1,818,014	1,694,751	[1]
Market risk benefits assets	2,340,230	1,393,237	[1]
Other Assets	1,787,731	1,331,427	[1]
Separate account assets	117,840,155	114,051,246
TOTAL ASSETS	205,566,500	193,473,118
LIABILITIES
Policyholders’ account balances	47,608,155	41,912,536	[1]
Future policy benefits	21,977,994	20,829,033	[1]
Market risk benefit liabilities	5,089,766	5,521,601	[1]
Cash collateral for loaned securities	162,122	86,750
Short-term debt to affiliates	307,123	126,250
Long-term debt to affiliates	0	185,563
Payables to parent and affiliates	2,370,004	2,126,571
Other liabilities	4,540,528	3,597,373	[1]
Separate account liabilities	117,840,155	114,051,246
Total liabilities	199,895,847	188,436,923
EQUITY
Common stock ($10 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding)	2,500	2,500
Additional paid-in capital	6,145,282	6,037,914
Retained earnings / (accumulated deficit)	(496,877)	(994,154)	[1]
Accumulated other comprehensive income (loss)	19,748	(10,065)	[1]
Total equity	5,670,653	5,036,195
TOTAL LIABILITIES AND EQUITY	$ 205,566,500	$ 193,473,118
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Unaudited Interim Consolidate_2

Unaudited Interim Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Fixed Maturities, Available-for-sale, allowance for credit losses	$ 4,923	$ 4,769
Fixed Maturities, Available-for-sale, amortized cost	25,557,874	21,311,087
Fixed maturities, trading, amortized cost	3,180,933	2,682,022
Equity securities, at cost	376,623	148,179
Commercial mortgage and other loans, allowance for credit losses	22,093	20,263
Other invested assets, at fair value	$ 163,579	$ 116,110
Common Stock, Par or Stated Value Per Share	$ 10	$ 10
Common Stock, Shares Authorized	1,000,000	1,000,000
Common Stock, Shares, Issued	250,000	250,000
Common Stock, Shares, Outstanding	250,000	250,000

Unaudited Interim Consolidate_3

Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2023	Jun. 30, 2022
REVENUES
Premiums	$ 89,965	$ 54,324	[1]	$ 166,621	$ 123,829	[1]
Policy charges and fee income	363,536	398,755	[1]	750,027	487,935	[1]
Net investment income	393,075	192,128		742,525	371,428
Asset administration fees	56,788	71,790		120,990	151,022
Other income (loss)	105,458	(306,639)	[1]	350,305	(633,722)	[1]
Realized Investment gains (losses), net	7,694	360,219	[1]	(112,985)	713,500	[2]
Net change in value of market risk benefits, net of related hedging gain (loss)	(38,887)	(717,469)	[1]	(18,685)	(1,155,337)	[2]
TOTAL REVENUES	977,629	53,108		1,998,798	58,655
BENEFITS AND EXPENSES
Policyholders' benefits	146,961	94,449	[1]	252,143	279,858	[1]
Change in estimates of liability for future policy benefits	(1,133)	48,647	[1]	(5,535)	45,800	[1]
Interest credited to policyholders’ account balances	143,816	108,918	[1]	304,038	220,937	[1]
Amortization of deferred policy acquisition costs	129,147	130,889	[1]	266,642	255,964	[1]
General, administrative and other expenses	300,689	285,767	[1]	587,336	552,717	[1]
TOTAL BENEFITS AND EXPENSES	719,480	668,670		1,404,624	1,355,276
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total	258,149	(615,562)		594,174	(1,296,621)
Income tax expense (benefit)	40,326	(143,706)	[1]	96,565	(342,554)	[1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	217,823	(471,856)		497,609	(954,067)
Equity in earnings of operating joint venture, net of taxes	(225)	(75,162)		(332)	(75,158)
NET INCOME (LOSS)	217,598	(547,018)		497,277	(1,029,225)	[2]
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	600	(6,200)		3,266	(7,870)
Net unrealized investment gains (losses)	(263,227)	(883,418)	[1]	118,874	(1,817,941)	[1]
Interest rate remeasurement of future policy benefits	20,636	130,981	[1]	(17,588)	249,694	[1]
Gain (loss) from changes in non-performance risk on market risk benefits	(247,746)	887,534	[1]	(67,323)	1,789,586	[1]
Total	(489,737)	128,897		37,229	213,469
Less: Income tax expense (benefit) related to other comprehensive income (loss)	(102,846)	27,805	[1]	7,416	45,818	[1]
Other comprehensive income (loss), net of taxes	(386,891)	101,092		29,813	167,651
Comprehensive income (loss)	$ (169,293)	$ (445,926)		$ 527,090	$ (861,574)
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Unaudited Interim Consolidate_4

Unaudited Interim Consolidated Statements of Equity - USD ($) $ in Thousands		Total	Common   Stock	Additional Paid-in Capital	Retained Earnings / (Accumulated Deficit)	Accumulated Other Comprehensive   Income (Loss)
Beginning Balance at Dec. 31, 2021	[1]	$ 6,213,996	$ 2,500	$ 6,042,491	$ (227,449)	$ 396,454
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital		8,160		8,160
Comprehensive income (loss):
NET INCOME (LOSS)		(482,207)			(482,207)
Other comprehensive income (loss), net of tax		66,559				66,559
Total comprehensive income (loss)		(415,648)
Ending Balance at Mar. 31, 2022	[1]	5,806,508	2,500	6,050,651	(709,656)	463,013
Beginning Balance at Dec. 31, 2021	[1]	6,213,996	2,500	6,042,491	(227,449)	396,454
Comprehensive income (loss):
NET INCOME (LOSS)	[2]	(1,029,225)
Other comprehensive income (loss), net of tax		167,651
Ending Balance at Jun. 30, 2022	[1]	5,350,272	2,500	6,040,341	(1,256,674)	564,105
Beginning Balance at Mar. 31, 2022	[1]	5,806,508	2,500	6,050,651	(709,656)	463,013
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital		3,194		3,194
Contributed (distributed) capital-parent/child asset transfers		(13,504)		(13,504)
Comprehensive income (loss):
NET INCOME (LOSS)		(547,018)			(547,018)
Other comprehensive income (loss), net of tax		101,092				101,092
Total comprehensive income (loss)		(445,926)
Ending Balance at Jun. 30, 2022	[1]	5,350,272	2,500	6,040,341	(1,256,674)	564,105
Beginning Balance at Dec. 31, 2022	[3]	5,036,195	2,500	6,037,914	(994,154)	(10,065)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital		405,000		405,000
Contributed (distributed) capital-parent/child asset transfers		1,870		1,870
Comprehensive income (loss):
NET INCOME (LOSS)		279,679			279,679
Other comprehensive income (loss), net of tax		416,704				416,704
Total comprehensive income (loss)		696,383
Ending Balance at Mar. 31, 2023		6,139,448	2,500	6,444,784	(714,475)	406,639
Beginning Balance at Dec. 31, 2022	[3]	5,036,195	2,500	6,037,914	(994,154)	(10,065)
Comprehensive income (loss):
NET INCOME (LOSS)		497,277
Other comprehensive income (loss), net of tax		29,813
Ending Balance at Jun. 30, 2023		5,670,653	2,500	6,145,282	(496,877)	19,748
Beginning Balance at Mar. 31, 2023		6,139,448	2,500	6,444,784	(714,475)	406,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Return of capital		(300,000)		(300,000)
Contributed (distributed) capital-parent/child asset transfers		498		498
Comprehensive income (loss):
NET INCOME (LOSS)		217,598			217,598
Other comprehensive income (loss), net of tax		(386,891)				(386,891)
Total comprehensive income (loss)		(169,293)
Ending Balance at Jun. 30, 2023		$ 5,670,653	$ 2,500	$ 6,145,282	$ (496,877)	$ 19,748
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[3]    Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Unaudited Interim Consolidate_5

Unaudited Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 497,277	$ (1,029,225)	[1]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income	32,088	50,541	[1]
Interest credited to policyholders’ account balances	304,038	220,937	[1]
Realized investment (gains) losses, net	112,985	(713,500)	[1]
Change in value of market risk benefits, net of related hedging (gains) losses	18,685	1,155,337	[1]
Change in:
Future policy benefits and other insurance liabilities	1,114,998	2,656,256	[1]
Reinsurance recoverables	(266,323)	(1,677,450)	[1]
Accrued investment income	(61,627)	(22,745)
Net payables to/receivables from parent and affiliates	(62,810)	72,538
Deferred policy acquisition costs	(247,251)	(232,892)	[1]
Income taxes	(131,308)	(504,423)	[1]
Derivatives, net	(24,143)	(1,186,480)
Other, net	22,671	1,994,124	[1],[2]
Cash flows from (used in) operating activities	1,309,280	783,018
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	668,943	877,701
Fixed maturities, trading	28,720	858,989
Equity securities	44,737	109,213
Policy loans	96,630	83,894
Ceded policy loans	(65,351)	(54,926)
Short-term investments	188,767	195,709
Commercial mortgage and other loans	65,695	113,924
Other invested assets	6,890	58,993
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(4,639,830)	(3,522,783)
Fixed maturities, trading	(508,352)	(67,781)
Equity securities	(84,161)	(232,161)
Policy loans	(1,039,549)	(74,108)
Ceded policy loans	89,078	35,490
Short-term investments	(352,450)	(278,180)
Commercial mortgage and other loans	(499,642)	(403,331)
Other invested assets	(92,315)	(64,361)
Notes receivable from parent and affiliates, net	3,380	278
Derivatives, net	(72,609)	(259,219)
Other, net	(6,502)	52,879
Cash flows from (used in) investing activities	(6,167,921)	(2,569,780)
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits	6,380,420	5,275,227
Ceded policyholders’ account deposits	(590,643)	(608,678)
Policyholders’ account withdrawals	(1,904,078)	(2,381,708)
Ceded policyholders’ account withdrawals	317,163	288,895
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities	75,379	147,670
Contributed capital	105,000	0
Contributed (distributed) capital - parent/child asset transfers	2,997	(165)
Net change in all other financing arrangements (maturities 90 days or less)	(88)	0
Drafts outstanding	83,568	58,729
Other, net	(60,577)	(4,929)
Cash flows from (used in) financing activities	4,242,005	2,657,583
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(616,636)	870,821
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	2,397,627	918,931
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 1,780,991	$ 1,789,752
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period has been reclassified to conform to the current period presentation.

Unaudited Interim Consolidate_6

Unaudited Interim Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
The Prudential Insurance Company of America
Non-cash activities		$ 11
FLIAC
Non-cash activities	$ 335	811
Lotus Re
Non-cash activities		$ 531

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	BUSINESS AND BASIS OF PRESENTATION Pruco Life Insurance Company (“Pruco Life”) is a wholly-owned subsidiary of The Prudential Insurance Company of America (“Prudential Insurance”), which in turn is a direct wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential Financial”). Pruco Life is a stock life insurance company organized in 1971 under the laws of the State of Arizona. It is licensed to sell life insurance and annuities in the District of Columbia, Guam and in all states except New York, and sells such products primarily through affiliated and unaffiliated distributors. Pruco Life has one wholly-owned insurance subsidiary, Pruco Life Insurance Company of New Jersey (“PLNJ”). PLNJ is a stock life insurance company organized in 1982 under the laws of the State of New Jersey. It is licensed to sell life insurance and annuities in New Jersey and New York only. Pruco Life and its subsidiary are together referred to as the "Company", "we" or "our" and all financial information is shown on a consolidated basis. Prudential Financial Sale of PALAC Effective April 1, 2022, Prudential Financial completed the sale of Prudential Annuities Life Assurance Corporation (“PALAC”) to Fortitude Group Holdings, LLC (“Fortitude”). As such, PALAC is no longer an affiliate of Prudential Financial or the Company. Fortitude subsequently renamed the company Fortitude Life Insurance & Annuity Company (“FLIAC”). Reinsurance Agreement with FLIAC Effective December 1, 2021, the Company entered into a reinsurance agreement with FLIAC (previously named PALAC) under which the Company assumed all of its variable and fixed indexed annuities, and fixed annuities with a guaranteed lifetime withdrawal income feature from FLIAC. See Note 11 for additional information regarding this reinsurance arrangement. Basis of Presentation On January 1, 2023, the Company adopted ASU 2018-12, Financial Services— Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, which provided new authoritative guidance impacting the accounting and disclosure requirements for long-duration insurance and investment contracts issued by the Company. See “Adoption of ASU 2018-12” below for additional information regarding this adoption, including the impacts to the Company’s 2022 financial statements from implementing the new accounting standard as well as the transition impacts recorded as of January 1, 2021. See Note 2 for additional details regarding the key policy changes effected by this ASU and updated accounting policies resulting from the adoption of this ASU for all periods presented in the Unaudited Interim Consolidated Financial Statements. The Unaudited Interim Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Intercompany balances and transactions have been eliminated. 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 financial statements should be read in conjunction with the Company's Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and the Company's restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. Adoption of ASU 2018-12 In August 2018, the FASB issued ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts which provides new authoritative guidance impacting the accounting and disclosure requirements for long-duration insurance and investment contracts issued by the Company. The Company adopted this guidance, effective January 1, 2023, using the modified retrospective transition method, where permitted, for changes to the liability for future policy benefits and deferred policy acquisition costs ("DAC") and related balances, and using the retrospective transition method, as required, for market risk benefits. The Company applied the guidance as of the transition date of January 1, 2021 and retrospectively adjusted prior period amounts shown in the 2023 financial statements to reflect the new guidance. The following tables present amounts as previously reported in 2022, the effect upon those amounts from the adoption of the new guidance under ASU 2018-12 Unaudited Interim Consolidated Statements of Financial Position: December 31, 2022 IMPACTED LINES ONLY As Previously Reported Effect of As Currently Reported (in thousands) Deferred policy acquisition costs $ 6,616,097 $ 314,328 $ 6,930,425 Reinsurance recoverables 34,561,825 2,534,737 37,096,562 Deferred sales inducements 275,574 105,930 381,504 Income tax assets 1,873,740 (178,989) 1,694,751 Market risk benefit assets 0 1,393,237 1,393,237 Other assets 1,327,393 4,034 1,331,427 TOTAL ASSETS $ 189,299,841 $ 4,173,277 $ 193,473,118 Policyholders’ account balances $ 41,748,241 $ 164,295 $ 41,912,536 Future policy benefits 23,204,533 (2,375,500) 20,829,033 Market risk benefit liabilities 0 5,521,601 5,521,601 Other liabilities 3,407,156 190,217 3,597,373 Total liabilities 184,936,310 3,500,613 188,436,923 Retained earnings / (accumulated deficit) (95,583) (898,571) (994,154) Accumulated other comprehensive income (loss) (1,581,300) 1,571,235 (10,065) Total equity 4,363,531 672,664 5,036,195 TOTAL LIABILITIES AND EQUITY $ 189,299,841 $ 4,173,277 $ 193,473,118 Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss): Three Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of Change As Currently Reported (in thousands) REVENUES Premiums $ 57,421 $ (3,097) $ 54,324 Policy charges and fee income 625,812 (227,057) 398,755 Other income (loss) (312,016) 5,377 (306,639) Realized investment gains (losses), net 714,709 (354,490) 360,219 Change in value of market risk benefits, net of related hedging gain (loss) 0 (717,469) (717,469) TOTAL REVENUES 1,349,844 (1,296,736) 53,108 BENEFITS AND EXPENSES Policyholders’ benefits 158,106 (63,657) 94,449 Change in estimates of liability for future policy benefits 0 48,647 48,647 Interest credited to policyholders’ account balances 122,944 (14,026) 108,918 Amortization of deferred policy acquisition costs 276,173 (145,284) 130,889 General, administrative and other expenses 286,447 (680) 285,767 TOTAL BENEFITS AND EXPENSES 843,670 (175,000) 668,670 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 506,174 (1,121,736) (615,562) Income tax expense (benefit) 75,774 (219,480) (143,706) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 430,400 (902,256) (471,856) NET INCOME (LOSS) $ 355,238 $ (902,256) $ (547,018) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (897,661) 14,243 (883,418) Interest rate remeasurement of future policy benefits 0 130,981 130,981 Gain (loss) from changes in non-performance risk on market risk benefits 0 887,534 887,534 Total (903,861) 1,032,758 128,897 Less: Income tax expense (benefit) related to other comprehensive income (loss) (189,054) 216,859 27,805 Other comprehensive income (loss), net of taxes (714,807) 815,899 101,092 Comprehensive income (loss) $ (359,569) $ (86,357) $ (445,926) Six Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of Change As Currently Reported (in thousands) REVENUES Premiums $ 131,666 $ (7,837) $ 123,829 Policy charges and fee income 817,374 (329,439) 487,935 Other income (loss) (639,620) 5,898 (633,722) Realized investment gains (losses), net 1,498,816 (785,316) 713,500 Change in value of market risk benefits, net of related hedging gain (loss) 0 (1,155,337) (1,155,337) TOTAL REVENUES 2,330,686 (2,272,031) 58,655 BENEFITS AND EXPENSES Policyholders’ benefits 377,870 (98,012) 279,858 Change in estimates of liability for future policy benefits 0 45,800 45,800 Interest credited to policyholders’ account balances 286,470 (65,533) 220,937 Amortization of deferred policy acquisition costs 635,720 (379,756) 255,964 General, administrative and other expenses 554,144 (1,427) 552,717 TOTAL BENEFITS AND EXPENSES 1,854,204 (498,928) 1,355,276 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 476,482 (1,773,103) (1,296,621) Income tax expense (benefit) 71,073 (413,627) (342,554) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 405,409 (1,359,476) (954,067) NET INCOME (LOSS) $ 330,251 $ (1,359,476) $ (1,029,225) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (1,913,659) 95,718 (1,817,941) Interest rate remeasurement of future policy benefits 0 249,694 249,694 Gain (loss) from changes in non-performance risk on market risk benefits 0 1,789,586 1,789,586 Total (1,921,529) 2,134,998 213,469 Less: Income tax expense (benefit) related to other comprehensive income (loss) (402,512) 448,330 45,818 Other comprehensive income (loss), net of taxes (1,519,017) 1,686,668 167,651 Comprehensive income (loss) $ (1,188,766) $ 327,192 $ (861,574) Unaudited Interim Consolidated Statements of Cash Flows: Six Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 330,251 $ (1,359,476) $ (1,029,225) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (104,864) 155,405 50,541 Interest credited to policyholders’ account balances 286,470 (65,533) 220,937 Realized investment (gains) losses, net (1,498,816) 785,316 (713,500) Change in value of market risk benefits, net of related hedging (gains) losses 0 1,155,337 1,155,337 Change in: Future policy benefits and other insurance liabilities 1,476,307 1,179,949 2,656,256 Reinsurance recoverables (651,569) (1,025,881) (1,677,450) Deferred policy acquisition costs 147,096 (379,988) (232,892) Income taxes (90,806) (413,617) (504,423) Other, net(1) 2,025,636 (31,512) 1,994,124 Cash flows from (used in) operating activities $ 783,018 $ 0 $ 783,018 (1) Prior period has been reclassified to conform to the current period presentation. The following tables detail the January 1, 2021 transition adjustments by providing a rollforward of the ending reported balances as of December 31, 2020 to the opening balances as of January 1, 2021 for retained earnings, accumulated other comprehensive income (“AOCI”) and the impacted insurance-related balances. January 1, 2021 Retained Earnings (in thousands) Balance after-tax, prior to transition $ 1,772,398 Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income(1) (722,837) Updates to certain universal life contract liabilities(2) (116,120) Other(3) 72,950 Total pre-tax adjustments (766,007) Tax impacts 160,861 Balance after-tax, after transition $ 1,167,252 (1) Reflects the cumulative impact of changes in the fair value of market risk benefits (“MRB”) non-performance risk (“NPR”) from the date of contract issuance to January 1, 2021. These amounts were previously recorded in retained earnings but are now reflected in AOCI under the new guidance. (2) Reflects the impact on additional insurance reserves ("AIR") and other related balances primarily related to the no-lapse guarantee features on certain universal life contracts. For additional information, see Note 2. (3) Primarily reflects the reassessment of deferred reinsurance gains ("DRG") and losses ("DRL"). January 1, 2021 Accumulated Other Comprehensive Income (in thousands) Balance after-tax, prior to transition $ 546,128 Interest rate remeasurement of future policy benefits (196,526) Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income(1) 722,837 Unwinding amounts related to unrealized investment gains and losses(2) (102,042) Change in operating joint ventures (753) Total pre-tax adjustments 423,516 Tax impacts (89,096) Balance after-tax, after transition $ 880,548 (1) Reflects the cumulative impact of changes in NPR on the fair value of market risk benefits from the date of contract issuance to January 1, 2021. These amounts were previously recorded in retained earnings but are now reflected in AOCI under the new guidance. (2) Primarily reflects amounts related to DAC and other balances as unrealized investment gains or losses no longer impact the amortization pattern of such balances under the new guidance. Also includes the impacts from updates to reserves and other related balances for certain universal life contracts. For additional information, see Note 2. January 1, 2021 Deferred Policy Acquisition Costs Term Life Variable/Universal Life Total (in thousands) Balance prior to transition $ 462,098 $ 1,971,838 $ 2,433,936 Unwinding amounts related to unrealized investment gains and losses 0 74,702 74,702 Other(1) 1 (15,557) (15,556) Balance after transition $ 462,099 $ 2,030,983 $ 2,493,082 (1) Represents miscellaneous model refinements. January 1, 2021 Deferred Reinsurance Losses(1) Variable Annuities Term Life Variable/Universal Life Total (in thousands) Balance prior to transition $ 118,579 $ 87,932 $ 27,167 $ 233,678 Unwinding amounts related to unrealized investment gains and losses 14,804 0 0 14,804 Effect of change in reserve basis to market risk benefits 141,032 0 0 141,032 Effect of change in SOP 03-1 reserve basis 0 0 (27,167) (27,167) Balance after transition $ 274,415 $ 87,932 $ 0 $ 362,347 (1) Deferred reinsurance losses are included in “Other assets”. January 1, 2021 Deferred Reinsurance Gains(1) Variable/Universal Life (in thousands) Balance prior to transition $ 134,213 Effect of change in SOP 03-1 reserve basis 40,046 Balance after transition $ 174,259 (1) Deferred reinsurance gains are included in “Other liabilities”. January 1, 2021 Benefit Reserves(1) Term Life Life Insurance - Taiwan Other(2) Total (in thousands) Balance prior to transition $ 6,674,490 $ 1,592,329 $ 219,744 $ 8,486,563 Changes in cash flow assumptions and other activity (259) 43,233 (7,283) 35,691 Balance after transition, at original discount rate 6,674,231 1,635,562 212,461 8,522,254 Cumulative changes in discount rate assumptions 2,432,010 3,316,991 27,818 5,776,819 Balance after transition, at current discount rate 9,106,241 4,952,553 240,279 14,299,073 Less: Reinsurance recoverable 8,536,200 4,952,553 239,874 13,728,627 Balance after transition, net of reinsurance recoverable $ 570,041 $ 0 $ 405 $ 570,446 (1) Benefit reserves, excluding amounts for reinsurance recoverable, are included in "Future policy benefits". For additional information on the liability for future policy benefits, see Note 8. (2) Other includes fixed annuities and retirement products. January 1, 2021 Deferred Profit Liability(1) Life Insurance - Taiwan Other(2) Total (in thousands) Balance prior to transition $ 49,127 $ 1,689 $ 50,816 Changes in benefit reserves (6,671) 8,521 1,850 Balance after transition 42,456 10,210 52,666 Less: Reinsurance recoverable 42,456 10,210 52,666 Balance after transition, net of reinsurance recoverable $ 0 $ 0 $ 0 (1) Deferred profit liability ("DPL"), excluding amounts for reinsurance recoverable, is included in "Future policy benefits". For additional information regarding the liability for future policy benefits, see Note 8. (2) Other includes fixed annuities and retirement products. January 1, 2021 Additional Insurance Reserves(1) Variable/Universal Life Variable Annuities Total (in thousands) Balance prior to transition $ 9,363,585 $ 588,311 $ 9,951,896 Unwinding amounts related to unrealized investment gains and losses (1,426,811) (53,889) (1,480,700) Balance prior to transition, excluding amounts related to unrealized investment gains and losses 7,936,774 534,422 8,471,196 Reclassification of future policy benefits additional insurance reserves to market risk benefits 0 (534,422) (534,422) Updates to certain universal life contract liabilities(2) 1,771,341 0 1,771,341 Balance after transition, excluding amounts related to unrealized investment gains and losses 9,708,115 0 9,708,115 Amounts related to unrealized investment gains and losses after transition 1,169,972 0 1,169,972 Balance after transition 10,878,087 0 10,878,087 Less: Reinsurance recoverable 10,685,150 0 10,685,150 Balance after transition, net of reinsurance recoverable $ 192,937 $ 0 $ 192,937 (1) AIR, excluding amounts for reinsurance recoverable, are included in "Future policy benefits". For additional information regarding the liability for future policy benefits, see Note 8. (2) For additional information regarding updates to reserves and other related balances for certain universal life contracts, see Note 2. January 1, 2021 Unearned Revenue Reserves(1) Variable/Universal Life (in thousands) Balance prior to transition $ 1,377,669 Unwinding amounts related to unrealized investment gains and losses and other activity 367,599 Balance after transition 1,745,268 Less: Reinsurance recoverable 751,517 Balance after transition, net of reinsurance recoverable $ 993,751 (1) Unearned revenue reserves ("URR") are included in "Policyholders' account balances". For additional information regarding the liability for policyholders' account balances, see Note 9. January 1, 2021 Market Risk Benefits(1) Variable Annuities (in thousands) Liability for guaranteed benefits recorded at fair value, prior to transition $ 13,227,814 Additional insurance reserves to be reclassed to market risk benefits, prior to transition, excluding amounts related to unrealized investment gains and losses 534,422 Total liability prior to transition 13,762,236 Change in reserve basis to market risk benefits framework (184,693) Market risk benefits after transition, at current non-performance risk value 13,577,543 Less: Reinsured market risk benefits 13,589,575 Market risk benefits after transition, net of reinsurance $ (12,032) Market risk benefits after transition, at contract inception non-performance risk value 14,300,380 Cumulative change in non-performance risk 722,837 Market risk benefits after transition, at current non-performance risk value $ 13,577,543 (1) For additional information regarding market risk benefits, see Note 10. January 1, 2021 Cost of Reinsurance(1) Variable/Universal Life (in thousands) Balance prior to transition $ 602,294 Unwinding amounts related to unrealized investment gains and losses (246,899) Balance prior to transition, excluding amounts related to unrealized investment gains and losses 355,395 Impact from updates to certain universal life contract liabilities(2) 81,920 Balance after transition, excluding amounts related to unrealized investment gains and losses 437,315 Amounts related to unrealized investment gains and losses after transition 191,098 Balance after transition $ 628,413 (1) Cost of reinsurance is included in "Other liabilities". (2) For additional information regarding updates to reserves and other related balances for certain universal life contracts, see Note 2. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining future policy benefits; policyholders' account balances and reinsurance related to the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products; market risk benefits; the valuation of investments including derivatives, the measurement of allowance for credit losses, and the recognition of other-than-temporary impairments; reinsurance recoverables; any provision for income taxes and valuation of deferred tax assets; and accruals for contingent liabilities, including estimates for losses in connection with unresolved legal and regulatory matters. Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation.

Significant Accounting Policies

Significant Accounting Policies and Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Significant Accounting Policies and Pronouncements	SIGNIFICANT ACCOUNTING POLICIES AND PRONOUNCEMENTS Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of ASUs to the FASB Accounting Standards Codification ("ASC"). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of June 30, 2023, and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. Adoption of ASU 2018-12 Effective January 1, 2023, the Company adopted ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . Adoption of this ASU impacted, at least to some extent, the accounting and disclosure requirements for all long-duration insurance and investment contracts issued by the Company and had a significant financial impact on the Consolidated Financial Statements and disclosures. See Note 1 for additional information. As of the January 1, 2021 transition date, the adoption of the standard resulted in a decrease to “Total equity” of $271 million, primarily from remeasuring in force contract liabilities using upper-medium grade fixed income instrument yields as of the transition date and from other changes in reserves. As of the January 1, 2023 adoption date, the impact amounted to an increase to "Total equity" of $673 million. The changes in the impacts from January 1, 2021 to January 1, 2023 primarily reflect the increase in market interest rates during 2021 and 2022. Outlined below are: (1) key accounting policy changes effected by the ASU and (2) updated accounting policies for all of the periods presented in the Unaudited Interim Consolidated Financial Statements. (1) Key Accounting Policy Changes Area of Change Description Method of adoption Effect on the financial statements or other significant matters Cash flow assumptions used to measure the liability for future policy benefits for non-participating traditional and limited-payment insurance products Requires an entity to review, and if necessary, update the cash flow assumptions used to measure the liability for future policy benefits, for both changes in future assumptions and actual experience, at least annually using a retrospective update method with a cumulative catch-up adjustment recorded in a separate line item in the Consolidated Statements of Operations. Effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021 (the “transition date”). Under this method, the amendments to contracts in force were applied as of January 1, 2021 on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI The impact upon transition reflects the impact on in force contract liabilities in instances where expected net premiums exceeded expected gross premiums at an issue-year cohort level as a result of updating to current best estimate cash flow assumptions as of the transition date. As a result of the modified retrospective transition method, the vast majority of the impact of updating cash flow assumptions to best estimates as of the transition date will be reflected in the pattern of earnings in subsequent periods. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 8 for additional information. Discount rate assumption used to measure the liability for future policy benefits for non-participating traditional and limited-payment insurance products Requires discount rate assumptions to be based on an upper-medium grade fixed income instrument yields, which will be updated each quarter with the impact recorded through OCI. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the discount rate assumptions. As noted above, the guidance for the liability for future policy benefits was adopted effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Under this method, for balance sheet remeasurement purposes, the liability for future policy benefits is remeasured using discount rates as of January 1, 2021 with the impact recorded as a cumulative effect adjustment to AOCI. Adoption of the ASU resulted in a significant impact to AOCI as a result of remeasuring in force contract liabilities using current upper-medium grade fixed income instrument yields. This adjustment largely reflects the difference between discount rates locked-in at contract inception versus current discount rates. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 8 for additional information. Area of Change Description Method of adoption Effect on the financial statements or other significant matters Amortization of deferred acquisition costs and other balances Requires DAC and other balances, such as URR and Deferred Sales Inducements ("DSI"), to be amortized on a constant level basis over the expected term of the related contract, independent of expected profitability. Effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Under this method, the amendments to contracts in force were applied as of January 1, 2021 on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI. Adoption of the ASU did not have a significant impact on DAC and other balances upon transition, other than the impact of the removal of any related amounts in AOCI. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 6 for additional information. Market Risk Benefits Requires an entity to measure all market risk benefits (e.g., living benefit and death benefit guarantees associated with variable annuities) at fair value, and record MRB assets and liabilities separately on the Consolidated Statements of Financial Position. Changes in the fair value of market risk benefits are recorded in net income, except for the portion attributable to changes in an entity’s NPR, which is recognized in OCI. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the balance of the market risk benefits upon adoption. Effective January 1, 2023 using the retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Adoption of the ASU resulted in an adjustment to retained earnings for the difference between the fair value and carrying value of benefits not measured at fair value prior to the adoption of the ASU (e.g., guaranteed minimum death benefits on variable annuities) and a reclass of the cumulative effect of changes in NPR from retained earnings to AOCI. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 10 for additional information. In addition to the significant key accounting changes noted above, ASU 2018-12 also clarified the definition of assessments used to accrue additional insurance reserves and other related balances, primarily for no-lapse guarantee features on certain universal life contracts. Application of the new guidance changed the pattern of reserve recognition for these guarantees and resulted in an increase to the net contract liabilities related to these products at transition. See Note 1 for additional information regarding the effect on the financial statements. ASU 2022-05, Financial Services – Insurance (Topic 944) Transition for Sold Contracts was issued on December 15, 2022, to amend the transition guidance in ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . The amendment allows an insurance entity to make an accounting policy election to not apply ASU 2018-12 to contracts or legal entities sold or disposed of before the effective date, and in which the insurance entity has no significant continuing involvement with the derecognized contracts. An insurance entity is permitted to apply the policy election on a transaction by transaction basis to each sale or disposal transaction. An insurance entity is required to disclose whether it has chosen to apply this accounting policy election and provide a qualitative description of the sale or disposal transactions to which the accounting policy election is applied. The Company did not apply this accounting policy election. (2) Updated Accounting Policies This section includes the updated accounting policies resulting from the adoption of ASU 2018-12 which are applicable to all of the periods presented in the Unaudited Interim Financial Statements. This section is meant to serve as an update to, and should be read in conjunction with, Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. ASSETS Deferred policy acquisition costs represents costs directly related to the successful acquisition of new and renewal insurance and annuity business. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully acquired contracts. In each reporting period, previously capitalized DAC is amortized and included in “Amortization of deferred policy acquisition costs”, and the carrying amount of DAC is not subject to recoverability testing upon adoption of ASU 2018-12. DAC is amortized on a constant-level basis at a grouped contract level over the expected life of the underlying insurance contracts. Contracts are grouped consistent with the groupings used to estimate the liability for future policy benefits (or other related balances) for the corresponding contracts. Since contracts within a grouping may be of different sizes, contracts within a group are weighted to achieve appropriate amortization and to ensure that DAC is derecognized when a policy is no longer in force. The constant-level basis used to weight contracts within a grouping and amortize DAC is generally defined as follows: • Life insurance contracts – DAC associated with life insurance contracts is generally amortized in proportion to the initial face amount of life insurance in force. This is applicable to traditional and universal life insurance. • Payout annuity contracts – DAC associated with payout annuity contracts is amortized in proportion to annual benefit payments. • Deferred annuity contracts – DAC associated with fixed and variable deferred annuity contracts is amortized in proportion to deposits. For single premium immediate annuities without life contingencies, acquisition expenses are deferred and amortized over the expected life of the contracts using the interest method. Current period DAC amortization reflects the impact of changes in actual insurance in force during the period and changes in future assumptions effected as of the end of the quarter, where applicable. The Company typically updates actuarial assumptions annually in the second quarter, (see "Annual Assumptions Review" below), unless a material change is observed in an interim period that is indicative of a long-term trend. Generally, the Company does not expect trends to change significantly in the short-term and, to the extent these trends may change, the Company expects such changes to be gradual over the long-term. Assumptions used for DAC are consistent with those used in estimating the liability for future policy benefits (or any other related balance) for the corresponding contract. Determining the level of aggregation and actuarial assumptions used in projecting in force terminations requires judgment. Internal criteria are developed to determine the level of aggregation by considering both qualitative and quantitative materiality thresholds. The assumptions used in projecting in force terminations are mortality, mortality improvement, and lapse assumptions. These assumptions are generally based on the Company’s experience, industry experience and/or other factors, as applicable. For variable deferred annuity contracts, lapse rates are adjusted at the contract level based on the in-the-moneyness of the living benefits and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For some products, policyholders can elect to modify product benefits, features, rights or coverages by exchanging a contract for a new contract or by amendment, endorsement, or rider to a contract, or by the election of a feature or coverage within a contract. These transactions are known as internal replacements. If policyholders surrender traditional life insurance policies in exchange for life insurance policies that do not have fixed and guaranteed terms, the Company immediately charges to expense the remaining unamortized DAC on the surrendered policies. For other internal replacement transactions, except those that involve the addition of a non-integrated contract feature that does not change the existing base contract, the unamortized DAC is immediately charged to expense if the terms of the new policies are not substantially similar to those of the former policies. If the new terms are substantially similar to those of the earlier policies, the DAC is retained with respect to the new policies and amortized over the expected life of the new policies. See Note 6 for additional information regarding DAC. Reinsurance recoverables include corresponding receivables associated with reinsurance arrangements with affiliates and third party reinsurers, and are reported on the Consolidated Statements of Financial Position net of the CECL allowance. Reinsurance recoverables also include assumed modified coinsurance arrangements which generally reflect the value of the invested assets retained by the cedant and the associated asset returns. Modified coinsurance recoverables contain an embedded derivative (bifurcated and accounted for separately from the host contract) that is presented together with the derivative embedded in the modified coinsurance payables as one compound derivative. For additional information about these arrangements see Note 11. The CECL allowance considers the credit quality of the reinsurance counterparty and is generally determined based on the probability of default and loss given default assumptions, after considering any applicable collateral arrangements. The CECL allowance does not apply to reinsurance recoverables with affiliated counterparties under common control. Additions to or releases of the allowance are reported in “Policyholders’ benefits.” Prior to the adoption of this standard, an allowance for credit losses for reinsurance recoverables was established only when it was deemed probable that a reinsurer may fail to make payments to us in a timely manner. Reinsurance premiums, commissions, expense reimbursements, benefits and reserves related to reinsured long-duration contracts under coinsurance arrangements are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. For reinsurance of in force blocks of non-participating traditional and limited-payment contracts, the current value of the direct liability as of inception of the reinsurance agreement is used to calculate the reinsurance recoverable and cost of reinsurance such that there is no immediate other comprehensive income or loss from recognition of the reinsurance recoverable at inception. Consistent with the direct liability, the reinsurance recoverable for non-participating traditional and limited-payment contracts is remeasured each period using current single A rates with the effect on the liability resulting from such updates recorded in "Interest rate remeasurement of future policy benefits" in OCI. Coinsurance arrangements contrast with the Company’s yearly renewable term arrangements, where only mortality risk is transferred to the reinsurer and premiums are paid to the reinsurer to reinsure that risk. The mortality risk that is reinsured under yearly renewable term arrangements represents the difference between the stated death benefits in the underlying reinsured contracts and the corresponding reserves or account value carried by the Company on those same contracts. The premiums paid to the reinsurer are based upon negotiated amounts, not on the actual premiums paid by the underlying contractholders to the Company. As yearly renewable term arrangements are usually entered into by the Company with the expectation that the contracts will be in force for the lives of the underlying policies, they are considered to be long-duration reinsurance contracts. The cost of reinsurance for universal life products is generally recognized based on the gross assessments of the underlying direct policies. The cost of reinsurance for term insurance products is generally recognized in proportion to direct premiums over the life of the underlying policies. Market risk benefit assets represents MRBs in an asset position and are presented separately from MRBs in a liability position. See “ Market risk benefit liabilities ” below. MRB assets also reflect ceded MRBs resulting from reinsurance of the Company's Prudential Defined Income ("PDI") traditional variable annuity contracts. See Note 11 for additional information regarding the reinsurance of PDI. Other assets consists primarily of deposit assets related to a reinsurance agreement entered into with a third-party reinsurer during 2021 using deposit accounting under U.S. GAAP, see Note 11 for additional information. Included in these deposit assets are amounts representing fair value of embedded derivative instruments associated with the index-linked features of certain annuity products. For additional information regarding the valuation of these embedded derivatives, see Note 5. Also included are premiums due, deferred loss on reinsurance which is amortized over the expected life of the reinsured contracts on a constant-level basis, receivables resulting from sales of securities that had not yet settled at the balance sheet date, prepaid tax expenses, and the Company’s investments in operating joint ventures. Investments in operating joint ventures are generally accounted for under the equity method. The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. Deferred Sales Inducements are amounts that are credited to a policyholders’ account balance primarily as an inducement to purchase fixed and/or variable deferred annuity contracts. The Company defers sales inducements and amortizes them over the expected life of the policy using the same methodology, factors and assumptions used to amortize DAC. The Company records amortization of DSI in “Interest credited to policyholders’ account balances.” Unlike DAC, DSI are considered contractual cash flows and, as a result, are subject to periodic recoverability testing. See Note 6 for additional information regarding DSI. Separate account assets represents segregated funds that are invested for certain policyholders, and other customers. The assets consist primarily of equity securities, fixed maturities, real estate-related investments, real estate mortgage loans, short-term investments and derivative instruments and are reported at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. The investment income and realized investment gains or losses from separate account assets generally accrue to the policyholders and are not included in the Company’s results of operations. Mortality, policy administration and surrender charges assessed against the accounts are included in “Policy charges and fee income”. Asset administration fees charged to the accounts are included in “Asset administration fees”. Seed money that the Company invests in separate accounts is reported in the appropriate general account asset line. Investment income and realized investment gains or losses from seed money invested in separate accounts accrue to the Company and are included in the Company’s results of operations. See Note 7 for additional information regarding separate account arrangements with contractual guarantees. See also “Separate account liabilities ” below. LIABILITIES Future policy benefits is primarily comprised of the present value of expected future payments to or on behalf of policyholders, where the timing and amount of such payments depend on policyholder mortality or morbidity, less the present value of expected future net premiums (where net premiums are gross premiums multiplied by the Net-To-Gross ("NTG") ratio discussed below). The liability for future policy benefits is accrued over time as premium revenue is recognized. See Note 8 for additional information regarding future policy benefits. The reserving methodology used for non-participating traditional and limited-payment contracts include the following: • Cash Flow Assumptions . In measuring the liability for future policy benefits, the net premium valuation methodology is utilized. Under this methodology, a liability for future policy benefits is established using current best estimate insurance assumptions and interest rate assumptions locked-in at contract issuance date. The NTG ratio is calculated as the ratio of the present value of expected policy benefits and non-level claim settlement expenses divided by the present value of expected gross premiums. The NTG ratio is applied to gross premiums, as premium revenue is recognized, to determine net premiums. The liability is then determined as the present value of expected future policy benefits and non-level claim settlement expenses less the present value of expected future net premiums. For purposes of liability measurement, contracts are grouped into cohorts based primarily on issue year and major product line. The NTG ratio is generally updated quarterly for actual experience and annually for future cash flow assumption updates during the Company’s annual assumptions review process in the second quarter of each year unless a material change is observed in an interim period that is indicative of a long-term trend (see “ Annual Assumptions Review” below), with the exception of claim settlement expense assumptions which the Company has made an entity-wide election to lock-in as of contract issuance. The NTG ratio is subject to a retrospective unlocking method whereby the Company updates its best estimate of cash flows expected over the life of the cohort using actual historical experience and updated future cash flow assumptions. These updated cash flows are used to calculate the revised NTG ratio, which is used to derive an updated liability for future policy benefits as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. The updated liability for future policy benefit amount as of the beginning of the quarter is then compared to the carrying amount of the liability as of that same date, before the updates for actual experience or future cash flow assumptions, to determine the current period change in liability estimate. This current period change in the liability is the liability remeasurement gain or loss that is recorded through current period earnings in “Change in estimates of liability for future policy benefits.” In subsequent periods, the revised NTG ratio is used to measure the liability for future policy benefits, subject to future revisions. If a cohort is in a loss position where the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and non-level claim settlement expenses, the NTG ratio is capped at 100%. In these instances, all changes in expected benefits resulting from both actual experience deviations and changes in future assumptions are reflected immediately. While the liability for future policy benefits cannot be less than zero (i.e., a contra-liability) at the cohort level and thus the balance is floored at zero (i.e., “flooring”), the NTG ratio may be negative. This would be the case whereby conditions have improved such that the present value of future net premiums plus the existing liability for future policy benefits as of the valuation date exceed the present value of expected future policy benefits and non-level claim settlement expenses. In this case, the negative NTG ratio would be applied going forward to gross premiums received, effectively amortizing the gain into income and reducing the liability over time. In addition, for limited-payment contracts, the liability for future policy benefits also includes a Deferred Profit Liability representing gross premiums received in excess of net premiums and is generally recognized in revenue in a constant relationship with insurance in force for life contracts or with the amount of expected future benefit payments for annuity contracts. The DPL is subject to a retrospective unlocking adjustment consistent with the liability for future policy benefits discussed above. The DPL cannot be less than zero (i.e., a contra-liability) at the cohort level and thus the balance is floored at zero (i.e., “flooring”). For contracts issued prior to January 1, 2021, the modified retrospective transition method was used to transition to ASU 2018-12. Under this method, the transition date of January 1, 2021 serves as the new issue date of the contracts in force for purposes of retrospectively unlocking the NTG ratio and DPL as described above. • Discount Rate Assumption. The locked-in discount rate is generally based on expected investment returns at contract inception for contracts issued prior to January 1, 2021 and the upper medium grade fixed income corporate instrument yield (i.e., global single A) at contract inception for contracts issued after January 1, 2021. The discount rate in effect at contract inception is locked-in for the calculation of the NTG ratio and accretion of interest cost on the liability through net income. However, for balance sheet remeasurement purposes, the discount rate is updated using the current single A rate at each reporting period, with the effect on the liability resulting from such update recorded in “Interest rate remeasurement of future policy benefits" in OCI. The methodology used in constructing the single A discount rate curve for discounting cash flows used to calculate the liability for future policy benefits is intended to be reflective of the characteristics of the applicable insurance liabilities. The single A discount rate curve is developed by reference to upper medium grade (low credit risk) fixed income instrument yields that reflect the duration characteristics of the applicable insurance liabilities. The single A discount curve for the United States and foreign economies, such as Japan, with observable corporate A spreads, is developed using government bond rates, plus globally equivalent public corporate A spreads in the observable periods. The definition of upper medium grade is based on Moody’s definition which includes the spectrum of A (i.e., A- to A+). The rate used in foreign operations (with the exception of certain emerging markets, as discussed below) is based on the equivalent of a single A rate from a global rating agency for corporate bonds issued in the same currency and country in which the insurance contract is written. Liquidity is considered in defining the observable period and linear extrapolation is performed to the Company's ultimate long-term economic assumptions. See “Annual Assumptions Review” below for further discussion regarding the Company’s long-term economic assumption setting process. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain long-duration life contracts, such as no-lapse guarantee contract features (AIR liability), for which a liability is established when associated assessments are recognized (which include investment margin on policyholders' account balances in the general account and all policy charges including charges for administration, mortality, expense, surrender, and other charges). This liability is established using current best estimate assumptions and is based on the ratio of the present value of total expected excess payments (i.e., payments in excess of account value) over the life of the contract divided by the present value of total expected assessments (i.e., benefit ratio). For universal life type contracts and participating contracts, the Company performs premium deficiency tests using best estimate assumptions as of the testing date. If the liabilities determined based on these best estimate assumptions are greater than the net reserves (i.e., GAAP reserves including URR, net of reinsurance and any DSI asset), the existing net reserves are adjusted by first reducing these assets by the amount of the deficiency or to zero through a charge to current period earnings. If the deficiency is more than these asset balances for insurance contracts, the net reserves are increased by the excess through a charge to current period earnings included in "policyholders' benefits". Since investment yields are used as the discount rate, the premium deficiency test is also performed using a discount rate based on the market yield (i.e., assuming what would be the impact if any unrealized gains (losses) were realized as of the testing date). In the event that by using the market yield a deficiency occurs, an adjustment is established for the deficiency and is included in AOCI. In certain instances, for universal life type contracts and participating contracts, the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability (Profits Followed by Losses or “PFL” liability) be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. To date, the Company has not recorded a PFL liability on any such contracts. The Company’s liability for future policy benefits also includes a liability for unpaid claims and claim adjustment expenses. The Company does not establish claim liabilities until a loss has been incurred. However, unpaid claims and claim adjustment expenses include estimates of claims that the Company believes have been incurred but have not yet been reported as of the balance sheet date. Policyholders’ account balances liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This liability is primarily associated with the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balance, as applicable. These policyholders’ account balances also include provision for benefits under non-life contingent payout annuities and certain unearned revenues. The unearned revenue liability represents policy charges for services to be provided in future periods. The charges are d

Investments

Investments	6 Months Ended
	Jun. 30, 2023
Investments [Abstract]
Investments	INVESTMENTS Fixed Maturity Securities The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: June 30, 2023 Amortized Gross Gross Allowance for Credit Losses Fair (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 392,585 $ 258 $ 68,582 $ 0 $ 324,261 Obligations of U.S. states and their political subdivisions 797,759 3,900 24,568 0 777,091 Foreign government bonds 341,979 1,229 54,900 0 288,308 U.S. public corporate securities 9,797,076 29,259 940,277 1,175 8,884,883 U.S. private corporate securities 4,659,960 12,365 340,940 3,480 4,327,905 Foreign public corporate securities 1,873,238 2,455 155,979 262 1,719,452 Foreign private corporate securities 4,521,673 38,274 520,224 0 4,039,723 Asset-backed securities(1) 1,903,744 15,309 21,487 0 1,897,566 Commercial mortgage-backed securities 858,875 49 78,819 0 780,105 Residential mortgage-backed securities(2) 410,985 1,793 10,316 6 402,456 Total fixed maturities, available-for-sale $ 25,557,874 $ 104,891 $ 2,216,092 $ 4,923 $ 23,441,750 (1) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans and credit cards. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. December 31, 2022 Amortized Gross Gross Allowance for Credit Losses Fair (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 354,348 $ 300 $ 72,856 $ 0 $ 281,792 Obligations of U.S. states and their political subdivisions 654,884 4,275 30,959 0 628,200 Foreign government bonds 330,967 1,140 58,640 5 273,462 U.S. public corporate securities 7,414,790 21,299 992,145 0 6,443,944 U.S. private corporate securities 4,140,734 13,071 335,205 1,871 3,816,729 Foreign public corporate securities 1,539,172 2,455 163,384 21 1,378,222 Foreign private corporate securities 4,338,585 19,761 589,153 2,863 3,766,330 Asset-backed securities(1) 1,467,955 6,976 32,577 0 1,442,354 Commercial mortgage-backed securities 727,159 94 69,101 0 658,152 Residential mortgage-backed securities(2) 342,493 3,211 9,479 9 336,216 Total fixed maturities, available-for-sale $ 21,311,087 $ 72,582 $ 2,353,499 $ 4,769 $ 19,025,401 (1) Includes credit-tranched securities collateralized by loan obligations, education loans, auto loans and home equity. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. The following tables set forth the fair value and gross unrealized losses on available-for-sale fixed maturity securities without an allowance for credit losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the dates indicated: June 30, 2023 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 100,715 $ 1,233 $ 219,681 $ 67,349 $ 320,396 $ 68,582 Obligations of U.S. states and their political subdivisions 331,330 5,382 146,894 19,186 478,224 24,568 Foreign government bonds 50,572 2,126 214,241 52,774 264,813 54,900 U.S. public corporate securities 3,983,266 112,737 3,630,814 827,449 7,614,080 940,186 U.S. private corporate securities 2,169,540 86,096 1,817,855 254,812 3,987,395 340,908 Foreign public corporate securities 751,135 12,808 816,331 142,851 1,567,466 155,659 Foreign private corporate securities 926,723 34,714 2,234,946 485,510 3,161,669 520,224 Asset-backed securities 379,540 4,023 611,043 17,464 990,583 21,487 Commercial mortgage-backed securities 314,068 13,348 456,762 65,471 770,830 78,819 Residential mortgage-backed securities 154,462 5,653 31,582 4,663 186,044 10,316 Total fixed maturities, available-for-sale $ 9,161,351 $ 278,120 $ 10,180,149 $ 1,937,529 $ 19,341,500 $ 2,215,649 December 31, 2022 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of $ 212,991 $ 46,928 $ 62,630 $ 25,928 $ 275,621 $ 72,856 Obligations of U.S. states and their political subdivisions 307,734 16,851 61,915 14,108 369,649 30,959 Foreign government bonds 139,577 19,435 111,371 39,205 250,948 58,640 U.S. public corporate securities 3,873,275 389,937 1,979,725 602,208 5,853,000 992,145 U.S. private corporate securities 2,506,932 157,853 948,686 177,352 3,455,618 335,205 Foreign public corporate securities 548,083 40,508 596,437 122,856 1,144,520 163,364 Foreign private corporate securities 1,772,413 199,124 1,479,608 390,029 3,252,021 589,153 Asset-backed securities 625,710 15,146 289,581 17,431 915,291 32,577 Commercial mortgage-backed securities 459,186 30,408 176,349 38,693 635,535 69,101 Residential mortgage-backed securities 129,721 9,220 1,294 259 131,015 9,479 Total fixed maturities, available-for-sale $ 10,575,622 $ 925,410 $ 5,707,596 $ 1,428,069 $ 16,283,218 $ 2,353,479 As of June 30, 2023 and December 31, 2022, the gross unrealized losses on fixed maturity available-for-sale securities without an allowance were composed of $2,071.0 million and $2,164.1 million, respectively, related to “1” highest quality or “2” high quality securities based on the National Association of Insurance Commissioners (“NAIC”) or equivalent rating and $144.7 million and $189.4 million, respectively, related to other than high or highest quality securities based on NAIC or equivalent rating. As of June 30, 2023, the $1,937.5 million of gross unrealized losses of twelve months or more were concentrated in the Company’s corporate securities within the finance, consumer non-cyclical and utility sectors. As of December 31, 2022, the $1,428.1 million of gross unrealized losses of twelve months or more were concentrated in the Company's corporate securities within the finance, consumer non-cyclical and utility sectors. In accordance with its policy described in Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023, the Company concluded that an adjustment to earnings for credit losses related to these fixed maturity securities was not warranted at June 30, 2023. This conclusion was based on a detailed analysis of the underlying credit and cash flows on each security. Gross unrealized losses are primarily attributable to increases in interest rates, general credit spread widening, foreign currency exchange rate movements and the financial condition or near-term prospects of the issuer. As of June 30, 2023, the Company did not intend to sell these securities, and it was not more likely than not that the Company would be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. The following table sets forth the amortized cost and fair value of fixed maturities by contractual maturities, as of the date indicated: June 30, 2023 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 871,136 $ 851,532 Due after one year through five years 7,836,414 7,422,836 Due after five years through ten years 6,286,229 5,750,612 Due after ten years 7,390,491 6,336,643 Asset-backed securities 1,903,744 1,897,566 Commercial mortgage-backed securities 858,875 780,105 Residential mortgage-backed securities 410,985 402,456 Total fixed maturities, available-for-sale $ 25,557,874 $ 23,441,750 Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Asset-backed, commercial mortgage-backed and residential mortgage-backed securities are shown separately in the table above, as they do not have a single maturity date. The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on write-downs and the allowance for credit losses of fixed maturities, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 68,308 $ 403,660 $ 128,681 $ 678,089 Proceeds from maturities/prepayments 193,205 110,426 488,333 230,787 Gross investment gains from sales and maturities 6,777 (652) 9,449 (1,358) Gross investment losses from sales and maturities (5,587) (22,461) (17,525) (41,903) Write-downs recognized in earnings(2) 4 (19,519) 7 (19,516) (Addition to) release of allowance for credit losses (1,196) 15,915 (154) (661) (1) Excludes activity from non-cash related proceeds due to the timing of trade settlements of $51.9 million and $(31.2) million for the six months ended June 30, 2023 and 2022, respectively. (2) Amounts represent write-downs of credit adverse securities and securities actively marketed for sale. The following tables set forth the activity in the allowance for credit losses for fixed maturity securities, as of the dates indicated: Three Months Ended June 30, 2023 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 0 $ 3,720 $ 0 $ 0 $ 7 $ 3,727 Additions to allowance for credit losses not previously recorded 0 0 242 0 0 0 242 Reductions for securities sold during the period 0 0 (41) 0 0 0 (41) Reductions for securities with intent to sell 0 0 0 0 0 0 0 Additions (reductions) on securities with previous allowance 0 0 996 0 0 (1) 995 Balance, end of period $ 0 $ 0 $ 4,917 $ 0 $ 0 $ 6 $ 4,923 Three Months Ended June 30, 2022 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 399 $ 20,326 $ 0 $ 0 $ 0 $ 20,725 Additions to allowance for credit losses not previously recorded 0 0 2,904 0 0 0 2,904 Reductions for securities sold during the period 0 (1) (1,202) 0 0 0 (1,203) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 42 (668) 0 0 0 (626) Balance, end of period $ 0 $ 116 $ 4,694 $ 0 $ 0 $ 0 $ 4,810 Six Months Ended June 30, 2023 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 5 $ 4,755 $ 0 $ 0 $ 9 $ 4,769 Additions to allowance for credit losses not previously recorded 0 0 3,165 0 0 0 3,165 Reductions for securities sold during the period 0 (1) (3,774) 0 0 0 (3,775) Reductions for securities with intent to sell 0 0 0 0 0 0 0 Additions (reductions) on securities with previous allowance 0 (4) 771 0 0 (3) 764 Balance, end of period $ 0 $ 0 $ 4,917 $ 0 $ 0 $ 6 $ 4,923 Six Months Ended June 30, 2022 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 11 $ 4,138 $ 0 $ 0 $ 0 $ 4,149 Additions to allowance for credit losses not previously recorded 0 329 12,162 0 0 0 12,491 Reductions for securities sold during the period 0 (4) (1,202) 0 0 0 (1,206) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 104 6,262 0 0 0 6,366 Balance, end of period $ 0 $ 116 $ 4,694 $ 0 $ 0 $ 0 $ 4,810 See Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023 for additional information about the Company's methodology for developing our allowance and expected losses. For the three months ended June 30, 2023, the net increase in the allowance for credit losses on available-for-sale securities was primarily related to net additions within the technology and communications sectors within corporate securities, due to adverse projected cash flows. For the three months ended June 30, 2022, the net decrease in the allowance for credit losses on available-for-sale securities was primarily related to communication sectors within corporate securities. For the six months ended June 30, 2023, the net increase in the allowance for credit losses on available-for-sale securities was primarily related to net additions within the technology and communications sectors within corporate securities, partially offset by restructurings within the capital goods and transportation sectors within private corporate securities. For the six months ended June 30, 2022, the net increase in the allowance for credit losses on available-for-sale securities was primarily related to adverse projected cash flows in the capital goods and utility sectors within corporate securities, partially offset by an increase in the communications sectors. The Company did not have any fixed maturity securities purchased with credit deterioration, as of both June 30, 2023 and December 31, 2022. Fixed Maturities, Trading The net change in unrealized gains (losses) from fixed maturities, trading still held at period end, recorded within “Other income (loss),” was $(53.5) million and $(184.1) million during the three months ended June 30, 2023 and 2022, respectively, and $42.6 million and $(520.5) million during the six months ended June 30, 2023 and 2022, respectively. Equity Securities The net change in unrealized gains (losses) from equity securities still held at period end, recorded within “Other income (loss),” was $(1.1) million and $(10.0) million during the three months ended June 30, 2023 and 2022, respectively, and $8.1 million and $(14.1) million during the six months ended June 30, 2023 and 2022, respectively. Commercial Mortgage and Other Loans The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: June 30, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,438,086 26.6 % $ 1,289,026 26.0 % Hospitality 103,254 1.9 104,177 2.1 Industrial 2,024,002 37.5 1,766,247 35.8 Office 588,424 10.9 590,897 11.9 Other 401,375 7.4 380,121 7.7 Retail 368,990 6.8 351,457 7.1 Total commercial mortgage loans 4,924,131 91.1 4,481,925 90.6 Agricultural property loans 480,240 8.9 467,018 9.4 Total commercial mortgage and agricultural property loans 5,404,371 100.0 % 4,948,943 100.0 % Allowance for credit losses (22,093) (20,263) Total net commercial mortgage and agricultural property loans $ 5,382,278 $ 4,928,680 As of June 30, 2023, the commercial mortgage and agricultural property loans were secured by properties geographically dispersed throughout the United States with the largest concentrations in California (29%), Texas (12%) and New York (5%), and included loans secured by properties in Europe (9%), Mexico (2%) and Australia (1%). The following tables set forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Three Months Ended June 30, 2023 2022 Commercial Mortgage Loans Agricultural Property Loans Total Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance, beginning of period $ 20,427 $ 983 $ 21,410 $ 6,324 $ 122 $ 6,446 Addition to (release of) allowance for expected losses 706 (23) 683 3,380 98 3,478 Allowance, end of period $ 21,133 $ 960 $ 22,093 $ 9,704 $ 220 $ 9,924 Six Months Ended June 30, 2023 2022 Commercial Mortgage Loans Agricultural Property Loans Total Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance, beginning of period $ 19,665 $ 598 $ 20,263 $ 5,847 $ 104 $ 5,951 Addition to (release of) allowance for expected losses 1,468 362 1,830 3,857 116 3,973 Allowance, end of period $ 21,133 $ 960 $ 22,093 $ 9,704 $ 220 $ 9,924 See Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023 for additional information about the Company's methodology for developing our allowance and expected losses. For the three months ended June 30, 2023, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to an increase in the general allowance due to declining market conditions and loan originations. For the three months ended June 30, 2022, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to an increase in the general allowance due to current market conditions. For the six months ended June 30, 2023, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to an increase in the general allowance due to current market conditions and loan originations. For the six months ended June 30, 2022, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to an increase in the general allowance due to current market conditions and loan originations. The following tables set forth key credit quality indicators based upon the recorded investment gross of allowance for credit losses, as of the dates indicated: June 30, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 140,170 $ 229,914 $ 251,894 $ 73,420 $ 242,096 $ 1,087,395 $ 0 $ 2,024,889 60%-69.99% 157,479 384,215 722,076 171,138 184,557 354,110 0 1,973,575 70%-79.99% 168,665 168,913 280,825 111,458 81,919 42,730 0 854,510 80% or greater 0 0 0 0 3,193 67,964 0 71,157 Total $ 466,314 $ 783,042 $ 1,254,795 $ 356,016 $ 511,765 $ 1,552,199 $ 0 $ 4,924,131 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 395,531 $ 750,505 $ 1,254,795 $ 248,763 $ 469,527 $ 1,451,257 $ 0 $ 4,570,378 1.0 - 1.2x 70,783 32,537 0 11,191 23,872 14,829 0 153,212 Less than 1.0x 0 0 0 96,062 18,366 86,113 0 200,541 Total $ 466,314 $ 783,042 $ 1,254,795 $ 356,016 $ 511,765 $ 1,552,199 $ 0 $ 4,924,131 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 13,837 $ 192,505 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 411,882 60%-69.99% 12,148 56,210 0 0 0 0 0 68,358 70%-79.99% 0 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 0 Total $ 25,985 $ 248,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 480,240 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 25,985 $ 246,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 478,240 1.0 - 1.2x 0 2,000 0 0 0 0 0 2,000 Less than 1.0x 0 0 0 0 0 0 0 0 Total $ 25,985 $ 248,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 480,240 December 31, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 266,453 $ 262,095 $ 63,558 $ 222,638 $ 201,087 $ 894,646 $ 1,910,477 60%-69.99% 344,110 681,996 243,800 219,593 61,757 305,175 1,856,431 70%-79.99% 166,629 304,386 47,388 66,148 2,409 53,336 640,296 80% or greater 0 0 0 3,249 0 71,472 74,721 Total $ 777,192 $ 1,248,477 $ 354,746 $ 511,628 $ 265,253 $ 1,324,629 $ 4,481,925 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 744,301 $ 1,248,477 $ 243,325 $ 452,626 $ 258,617 $ 1,203,807 $ 4,151,153 1.0 - 1.2x 32,891 0 83,655 26,558 6,636 45,742 195,482 Less than 1.0x 0 0 27,766 32,444 0 75,080 135,290 Total $ 777,192 $ 1,248,477 $ 354,746 $ 511,628 $ 265,253 $ 1,324,629 $ 4,481,925 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 208,708 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 410,808 60%-69.99% 56,210 0 0 0 0 0 56,210 70%-79.99% 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 Total $ 264,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 467,018 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 262,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 465,018 1.0 - 1.2x 2,000 0 0 0 0 0 2,000 Less than 1.0x 0 0 0 0 0 0 0 Total $ 264,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 467,018 See Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023 for additional information about the Company’s commercial mortgage and other loans credit quality monitoring process. The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: June 30, 2023 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 4,924,131 $ 0 $ 0 $ 0 $ 4,924,131 $ 0 Agricultural property loans 480,240 0 0 0 480,240 0 Total $ 5,404,371 $ 0 $ 0 $ 0 $ 5,404,371 $ 0 (1) As of June 30, 2023, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. December 31, 2022 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 4,481,925 $ 0 $ 0 $ 0 $ 4,481,925 $ 0 Agricultural property loans 465,689 0 1,329 0 467,018 0 Total $ 4,947,614 $ 0 $ 1,329 $ 0 $ 4,948,943 $ 0 (1) As of December 31, 2022, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. For both the three and six months ended June 30, 2023, there were $5,403.1 million of commercial mortgage and other loans acquired, other than those through direct origination, and there were no commercial mortgage and other loans sold. For both the three and six months ended June 30, 2022, there were $27.6 million of commercial mortgage and other loans acquired, other than those through direct origination, and there were $24.8 million of commercial mortgage and other loans sold. The Company did not have any commercial mortgage and other loans purchased with credit deterioration, as of both June 30, 2023 and December 31, 2022. Other Invested Assets The following table sets forth the composition of “Other invested assets,” as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Company’s investment in separate accounts $ 410 $ 510 LPs/LLCs: Equity method: Private equity 318,342 287,969 Hedge funds 633,025 576,595 Real estate-related 92,039 107,429 Subtotal equity method 1,043,406 971,993 Fair value: Private equity 57,932 59,146 Hedge funds 253 396 Real estate-related 8,663 9,457 Subtotal fair value 66,848 68,999 Total LPs/LLCs 1,110,254 1,040,992 Derivative instruments 96,731 47,111 Total other invested assets $ 1,207,395 $ 1,088,613 Accrued Investment Income The following table sets forth the composition of “Accrued investment income,” as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Fixed maturities $ 240,885 $ 187,628 Equity securities 220 349 Commercial mortgage and other loans 16,962 13,335 Policy loans 20,247 14,525 Other invested assets 47 48 Short-term investments and cash equivalents 5,224 3,750 Total accrued investment income $ 283,585 $ 219,635 There were no significant write-downs on accrued investment income for both the three and six months ended June 30, 2023 and 2022. Net Investment Income The following table sets forth “Net investment income” by investment type, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities, available-for-sale $ 275,718 $ 121,986 $ 510,528 $ 231,177 Fixed maturities, trading 21,761 12,479 39,635 28,044 Equity securities 2,543 1,190 5,320 1,352 Commercial mortgage and other loans 56,317 22,801 104,973 45,049 Policy loans 10,622 5,153 15,618 10,219 Other invested assets 15,624 38,243 41,723 75,033 Short-term investments and cash equivalents 29,582 3,441 60,758 4,089 Gross investment income 412,167 205,293 778,555 394,963 Less: investment expenses (19,092) (13,165) (36,030) (23,535) Net investment income $ 393,075 $ 192,128 $ 742,525 $ 371,428 Realized Investment Gains (Losses), Net The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities(1) $ (2) $ (26,717) $ (8,223) $ (63,438) Commercial mortgage and other loans (806) (5,756) (2,084) (6,359) Other invested assets 7,569 1,894 13,196 3,536 Derivatives(2) 600 390,746 (117,670) 779,973 Short-term investments and cash equivalents 333 52 1,796 (212) Realized investment gains (losses), net(2) $ 7,694 $ 360,219 $ (112,985) $ 713,500 (1) Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading. (2) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Net Unrealized Gains (Losses) on Investments within AOCI The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Fixed maturity securities, available-for-sale with an allowance $ 3,781 $ 4,371 Fixed maturity securities, available-for-sale without an allowance (2,114,982) (2,285,288) Derivatives designated as cash flow hedges(1) 99,661 138,627 Affiliated notes (12,179) (13,189) Other investments(2)(3) (1,149) (1,176) Net unrealized gains (losses) on investments $ (2,024,868) $ (2,156,655) (1) For more information on cash flow hedges, see Note 4. (2) Includes net unrealized gains (losses) on certain joint ventures that are strategic in nature and are included in "Other assets". (3) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Repurchase Agreements and Securities Lending In the normal course of business, the Company sells securities under agreements to repurchase and enters into securities lending transactions. As of both June 30, 2023 and December 31, 2022, the Company had no repurchase agreements. The following table sets forth the composition of “Cash collateral for loaned securities”, which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: June 30, 2023 December 31, 2022 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in thousands) Foreign government bonds $ 490 $ 0 $ 490 $ 506 $ 0 $ 506 U.S. public corporate securities 11,524 0 11,524 7,903 0 7,903 Foreign public corporate securities 965 0 965 12,873 0 12,873 Equity securities 149,143 0 149,143 65,468 0 65,468 Total cash collateral for loaned securities(1) $ 162,122 $ 0 $ 162,122 $ 86,750 $ 0 $ 86,750 (1) The Company did not have any agreements with remaining contractual maturities greater than thirty days, as of the dates indicated.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVES AND HEDGING Types of Derivative Instruments and Derivative Strategies The Company utilizes various derivative instruments and strategies to manage its risk. Commonly used derivative instruments include, but are not necessarily limited to: • Interest rate contracts: futures, swaps, options, caps and floors • Equity contracts: futures, options and total return swaps • Foreign exchange contracts: futures, options, forwards and swaps • Credit contracts: single and index reference credit default swaps Other types of financial contracts that the Company accounts for as derivatives include: • Embedded derivatives For detailed information on these contracts and the related strategies, see Note 4 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. Primary Risks Managed by Derivatives The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account of the netting effects of master netting agreements and cash collateral. June 30, 2023 December 31, 2022 Primary Underlying Risk/Instrument Type Fair Value Fair Value Gross Notional Assets Liabilities Gross Notional Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 6,172 $ 0 $ (281) $ 3,225 $ 0 $ (316) Foreign Currency Swaps 2,005,195 184,327 (21,003) 1,933,343 233,812 (10,462) Total Derivatives Designated as Hedge Accounting Instruments $ 2,011,367 $ 184,327 $ (21,284) $ 1,936,568 $ 233,812 $ (10,778) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 225,661,110 $ 6,500,268 $ (17,340,905) $ 138,419,110 $ 6,757,890 $ (17,092,749) Interest Rate Options 23,248,000 107,941 (693,225) 8,368,000 123,168 (225,125) Interest Rate Futures 1,397,200 426 (7,675) 2,425,500 3,267 (201) Interest Rate Forwards 1,104,000 4,668 (6,719) 1,104,000 11,265 (12,359) Foreign Currency Foreign Currency Forwards 730,882 4,847 (3,563) 364,946 590 (10,423) Credit Credit Default Swaps 89,631 1,973 0 47,450 346 0 Currency/Interest Rate Foreign Currency Swaps 2,345,911 152,240 (16,276) 2,289,170 194,412 (14,624) Equity Total Return Swaps 13,186,165 255,586 (464,354) 15,958,130 120,341 (175,104) Equity Options 40,732,315 1,081,712 (1,212,176) 25,187,516 239,003 (1,112,196) Equity Futures 742,686 4,639 (773) 876,790 956 (513) Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 309,237,900 $ 8,114,300 $ (19,745,666) $ 195,040,612 $ 7,451,238 $ (18,643,294) Total Derivatives(1)(2) $ 311,249,267 $ 8,298,627 $ (19,766,950) $ 196,977,180 $ 7,685,050 $ (18,654,072) (1) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $5,513 million and $3,502 million as of June 30, 2023 and December 31, 2022, respectively included in "Policyholders' account balances". Other assets included $218 million and $141 million as of June 30, 2023 and December 31, 2022, respectively. Other liabilities included $26 million and $10 million as of June 30, 2023 and December 31, 2022, respectively. (2) Recorded in “Other invested assets” and “Payables to parent and affiliates” on the Unaudited Interim Consolidated Statements of Financial Position. Offsetting Assets and Liabilities The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Consolidated Statements of Financial Position. June 30, 2023 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Offsetting of Financial Liabilities: Derivatives $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 December 31, 2022 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 7,685,050 $ (7,637,939) $ 47,111 $ 0 $ 47,111 Securities purchased under agreements to resell 290,000 0 290,000 (290,000) 0 Total Assets $ 7,975,050 $ (7,637,939) $ 337,111 $ (290,000) $ 47,111 Offsetting of Financial Liabilities: Derivatives $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty. For information regarding the rights of offset associated with the derivative assets and liabilities in the table above see “Credit Risk” below and Note 14. For securities purchased under agreements to resell and securities sold under agreements to repurchase, the Company monitors the value of the securities and maintains collateral, as appropriate, to protect against credit exposure. Where the Company has entered into repurchase and resale agreements with the same counterparty, in the event of default, the Company would generally be permitted to exercise rights of offset. For additional information on the Company’s accounting policy for securities repurchase and resale agreements, see Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. Cash Flow Hedges The primary derivative instruments used by the Company in its cash flow hedge accounting relationships are currency swaps and interest rate swaps. These instruments are only designated for hedge accounting in instances where the appropriate criteria are met. The Company does not use futures, options, credit, or equity derivatives in any of its cash flow hedge accounting relationships. The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship. Three Months Ended June 30, 2023 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ (29) $ 0 $ (43) Currency/Interest Rate (1,944) 0 10,974 (7,027) (18,636) Total cash flow hedges (1,943) 0 10,945 (7,027) (18,679) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 63,875 (915,225) 0 0 0 Currency (5,416) 0 0 0 0 Currency/Interest Rate (23,601) 0 0 (54) 0 Credit 1,392 0 0 0 0 Equity 947,017 (398,134) 0 0 0 Embedded Derivatives (980,724) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 2,543 (1,313,359) 0 (54) 0 Total $ 600 $ (1,313,359) $ 10,945 $ (7,081) $ (18,679) Six Months Ended June 30, 2023 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ (54) $ 0 $ (2) Currency/Interest Rate 571 0 22,679 (17,453) (38,964) Total cash flow hedges 572 0 22,625 (17,453) (38,966) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 15,712 (707,165) 0 0 0 Currency (12,026) 0 0 0 0 Currency/Interest Rate (36,322) 0 0 (200) 0 Credit 2,326 0 0 0 0 Equity 1,143,892 (598,066) 0 0 0 Embedded Derivatives (1,228,711) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (115,129) (1,305,231) 0 (200) 0 Total $ (114,557) $ (1,305,231) $ 22,625 $ (17,653) $ (38,966) Three Months Ended June 30, 2022 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) (1) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 0 $ 0 $ 4 $ 0 $ (64) Currency/Interest Rate 417 0 8,717 33,483 91,734 Total cash flow hedges 417 0 8,721 33,483 91,670 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 238,950 (1,909,364) 0 0 0 Currency 15,504 0 0 0 0 Currency/Interest Rate 114,645 0 0 290 0 Credit (38,726) 0 0 0 0 Equity 1,788 931,489 0 0 0 Embedded Derivatives 58,168 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 390,329 (977,875) 0 290 0 Total $ 390,746 $ (977,875) $ 8,721 $ 33,773 $ 91,670 Six Months Ended June 30, 2022 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) (1) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ 16 $ 0 $ (221) Currency/Interest Rate (354) 0 16,566 40,183 104,715 Total cash flow hedges (353) 0 16,582 40,183 104,494 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 483,192 (3,779,544) 0 0 0 Currency 19,801 0 0 0 0 Currency/Interest Rate 112,937 0 0 0 0 Credit (41,449) 0 0 403 0 Equity 174,900 1,149,637 0 0 0 Embedded Derivatives 30,945 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 780,326 (2,629,907) 0 403 0 Total $ 779,973 $ (2,629,907) $ 16,582 $ 40,586 $ 104,494 (1) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in thousands) Balance, December 31, 2022 $ 138,627 Amount recorded in AOCI Interest Rate (55) Currency/Interest Rate (33,167) Total amount recorded in AOCI (33,222) Amount reclassified from AOCI to income Interest Rate 53 Currency/Interest Rate (5,797) Total amount reclassified from AOCI to income (5,744) Balance, June 30, 2023 $ 99,661 The changes in fair value of cash flow hedges are deferred in AOCI and are included in "Net unrealized investment gains (losses)" in the Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss); these amounts are then reclassified to earnings when the hedged item affects earnings. Using June 30, 2023 values, it is estimated that a pre-tax gain of $19 million is expected to be reclassified from AOCI to earnings during the subsequent twelve months ending June 30, 2024. The exposures the Company is hedging with these qualifying cash flow hedges include the variability of the payment or receipt of interest or foreign currency amounts on existing financial instruments. There were no material amounts reclassified from AOCI into earnings relating to instances in which the Company discontinued cash flow hedge accounting because the forecasted transaction did not occur by the anticipated date or within the additional time period permitted by the authoritative guidance for the accounting for derivatives and hedging. Credit Derivatives Credit Derivatives, where the Company has written credit protection on certain index references, have outstanding notional amounts of $90 million and $47 million as of June 30, 2023 and December 31, 2022, respectively. These credit derivatives are reported at fair value as an asset of $2 million and $0 million as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023 the notional amount of these credit derivatives had the following NAIC rating: $46 million in NAIC 3 and $44 million in NAIC 6. The Company has no exposure on purchased credit protection as of June 30, 2023 and December 31, 2022. Counterparty Credit Risk The Company is exposed to credit-related losses in the event of non-performance by counterparties to financial derivative transactions with a positive fair value. The Company manages credit risk by entering into derivative transactions with regulated derivatives exchanges for exchange traded derivatives and its affiliate, Prudential Global Funding LLC (“PGF”), related to its over-the-counter ("OTC") derivatives. PGF, in turn, manages its credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreement, 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.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	FAIR VALUE OF ASSETS AND LIABILITIES Fair Value Measurement - Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative fair value guidance establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows: Level 1 – Fair value is based on unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities. Level 2 – Fair value is based on significant inputs, other than quoted prices included in Level 1, that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability through corroboration with observable market data. Level 2 inputs include quoted market prices in active markets for similar assets and liabilities, quoted market prices in markets that are not active for identical or similar assets or liabilities, and other market observable inputs. Level 3 – Fair value is based on at least one significant unobservable input for the asset or liability. The assets and liabilities in this category may require significant judgment or estimation in determining the fair value. For a discussion of the Company's valuation methodologies for assets and liabilities measured at fair value and the fair value hierarchy, see Note 5 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. As a result of the adoption of ASU 2018-12 in the first quarter of 2023, the Company is required to measure all market risk benefits (e.g., living benefit and death benefit guarantees associated with variable annuities) at fair value. Market risk benefit liabilities (or assets) represent contracts or contract features that provide protection to the contractholder and exposes the Company to other than nominal capital market risk, primarily related to deferred annuities with guaranteed minimum benefits in the annuities products including GMDB, GMIB, GMAB, GMWB and GMIWB. The benefits are bundled together and accounted for as single compound market risk benefits using a fair value measurement framework. The fair value of these market risk benefits is calculated as the present value of expected future benefit payments to contractholders less the present value of expected future rider fees attributable to the market risk benefit. The fair value of these benefit features is based on assumptions a market participant would use in valuing market risk benefits. This methodology could result in either a liability or asset balance, given changing capital market conditions and various actuarial assumptions. Since there is no observable active market for the transfer of these obligations, the valuations are calculated using internally-developed models with option pricing techniques. The models are based on a risk neutral valuation framework and incorporate premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows. The determination of these risk premiums requires the use of management’s judgment. The significant inputs to the valuation models for these market risk benefits include capital market assumptions, such as interest rate levels and volatility assumptions, the Company’s market-perceived NPR, as well as actuarially determined assumptions, including contractholder behavior, such as lapse rates, benefit utilization rates, withdrawal rates, and mortality rates. Since many of these assumptions are unobservable and are considered to be significant inputs to the valuations, the assets and liabilities included in market risk benefits have been reflected within Level 3 in the fair value hierarchy. Capital market inputs and actual policyholders’ account values are updated each quarter based on capital market conditions as of the end of the quarter, including interest rates, equity markets and volatility. In the risk neutral valuation, the initial swap curve drives the total return used to grow the policyholders’ account values. The Company’s discount rate assumption is based on the SOFR swap curve adjusted for an additional spread relative to SOFR to reflect the Company’s market-perceived NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with the Company issued funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. Actuarial assumptions, including contractholder behavior and mortality, are reviewed at least annually, and updated based upon company emerging experience and industry studies, future expectations and other data, including any observable market data. These assumptions are generally updated annually unless a material change that the Company feels is indicative of a long-term trend is observed in an interim period. See "Annual Assumptions Review" in Note 2 for additional information. Assets and Liabilities by Hierarchy Level – The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated. June 30, 2023 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 324,261 $ 0 $ $ 324,261 Obligations of U.S. states and their political subdivisions 0 777,091 0 777,091 Foreign government bonds 0 287,607 701 288,308 U.S. corporate public securities 0 8,884,883 0 8,884,883 U.S. corporate private securities 0 3,989,251 338,654 4,327,905 Foreign corporate public securities 0 1,712,484 6,968 1,719,452 Foreign corporate private securities 0 3,664,098 375,625 4,039,723 Asset-backed securities(2) 0 1,831,879 65,687 1,897,566 Commercial mortgage-backed securities 0 699,453 80,652 780,105 Residential mortgage-backed securities 0 402,456 0 402,456 Subtotal 0 22,573,463 868,287 23,441,750 Market risk benefit assets 0 0 2,340,230 2,340,230 Fixed maturities, trading 0 2,477,679 0 2,477,679 Equity securities 145,759 190,441 43,374 379,574 Short-term investments 49,804 188,594 1,209 239,607 Cash equivalents 0 1,092,394 0 1,092,394 Other invested assets(3) 95,126 8,203,501 0 (8,201,896) 96,731 Other assets 0 0 217,613 217,613 Reinsurance recoverable 0 0 1,465 1,465 Receivables from parent and affiliates 0 145,661 0 145,661 Subtotal excluding separate account assets 290,689 34,871,733 3,472,178 (8,201,896) 30,432,704 Separate account assets(4)(5) 114,988 112,915,302 4,982 113,035,272 Total assets $ 405,677 $ 147,787,035 $ 3,477,160 $ (8,201,896) $ 143,467,976 Market risk benefit liabilities $ 0 $ 0 $ 5,089,766 $ $ 5,089,766 Policyholders' account balances 0 0 5,513,449 5,513,449 Payables to parent and affiliates 0 19,758,495 0 (17,404,023) 2,354,472 Other liabilities(6) 8,448 (25,553) 0 (1,202) (18,307) Total liabilities $ 8,448 $ 19,732,942 $ 10,603,215 $ (17,405,225) $ 12,939,380 December 31, 2022 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 281,792 $ 0 $ $ 281,792 Obligations of U.S. states and their political subdivisions 0 628,200 0 628,200 Foreign government bonds 0 272,738 724 273,462 U.S. corporate public securities 0 6,443,944 0 6,443,944 U.S. corporate private securities 0 3,573,269 243,460 3,816,729 Foreign corporate public securities 0 1,371,354 6,868 1,378,222 Foreign corporate private securities 0 3,509,162 257,168 3,766,330 Asset-backed securities(2) 0 1,421,852 20,502 1,442,354 Commercial mortgage-backed securities 0 573,930 84,222 658,152 Residential mortgage-backed securities 0 336,216 0 336,216 Subtotal 0 18,412,457 612,944 19,025,401 Market risk benefit assets(7) 0 0 1,393,237 1,393,237 Fixed maturities, trading 0 1,936,159 0 1,936,159 Equity securities 108,076 6,403 28,593 143,072 Short-term investments 0 81,215 16,945 98,160 Cash equivalents 0 1,432,182 0 1,432,182 Other invested assets(3) 4,223 7,680,827 0 (7,637,939) 47,111 Other assets 0 0 141,041 141,041 Reinsurance recoverable 0 0 0 0 Receivables from parent and affiliates 0 148,075 0 148,075 Subtotal excluding separate account assets 112,299 29,697,318 2,192,760 (7,637,939) 24,364,438 Separate account assets(4)(5) 102,243 108,682,425 4,645 108,789,313 Total assets $ 214,542 $ 138,379,743 $ 2,197,405 $ (7,637,939) $ 133,153,751 Market risk benefit liabilities(7) $ 0 $ 0 $ 5,521,601 $ $ 5,521,601 Policyholders' account balances 0 0 3,502,096 3,502,096 Payables to parent and affiliates 0 18,653,159 0 (16,568,242) 2,084,917 Other liabilities(6) 899 (9,496) 0 (670) (9,267) Total liabilities $ 899 $ 18,643,663 $ 9,023,697 $ (16,568,912) $ 11,099,347 (1) “Netting” amounts represent cash collateral of $(9,203) million and $(8,931) million as of June 30, 2023 and December 31, 2022, respectively. (2) Includes credit-tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (3) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. As of June 30, 2023 and December 31, 2022, the fair values of such investments were $67 million and $69 million, respectively. (4) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company's Unaudited Interim Consolidated Statements of Financial Position. (5) Separate account 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, hedge funds and a corporate owned life insurance fund, for which fair value is measured at NAV per share (or its equivalent). At June 30, 2023 and December 31, 2022, the fair value of such investments were $4,805 million and $5,262 million, respectively. (6) Other liabilities includes embedded derivatives associated with reinsurance agreements. (7) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Quantitative Information Regarding Internally Priced Level 3 Assets and Liabilities – The tables below present quantitative information regarding significant internally-priced Level 3 assets and liabilities. June 30, 2023 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Average Impact of (in thousands) Assets: Corporate securities(2) $ 599,010 Discounted cash flow Discount rate 5.82 % 20 % 9.10 % Decrease Liquidation Liquidation value 64.71 % 64.71 % 64.71 % Increase Market risk benefit assets(4) $ 2,340,230 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.57 % 2.26 % Increase Utilization rate(7) 38 % 95 % Decrease Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Increase Equity volatility curve 15 % 25 % Decrease Liabilities: Market risk benefit liabilities(4) $ 5,089,766 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.57 % 2.26 % Decrease Utilization rate(7) 38 % 95 % Increase Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Decrease Equity volatility curve 15 % 25 % Increase Policyholders' account balances(10) $ 5,513,449 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.57 % 2.32 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 27 % Increase Option budget(11) (1) % 6 % Increase December 31, 2022 Fair Value Valuation Unobservable Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 408,494 Discounted cash flow Discount rate 9.77 % 20 % 16.53 % Decrease Market Comparables EBITDA multiples(3) 2.2 X 23.5 X 8.1 X Increase Market risk benefit assets(4)(12) $ 1,393,237 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.50 % 2.20 % Increase Utilization rate(7) 38 % 95 % Decrease Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Increase Equity volatility curve 18 % 26 % Decrease Liabilities: Market risk benefit liabilities(4)(12) $ 5,521,601 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.50 % 2.20 % Decrease Utilization rate(7) 38 % 95 % Increase Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Decrease Equity volatility curve 18 % 26 % Increase Policyholders' account balances(10) $ 3,502,096 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.22 % 2.26 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 30 % Increase Option budget(11) (2) % 6 % Increase (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities, available-for-sale. (3) Represents multiples of earnings before interest, taxes, depreciation and amortization ("EBITDA"), and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (4) Market risk benefits primarily represent fair value for all living benefit guarantees including accommodation, withdrawal and income benefits. Since the valuation methodology for these assets and liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (5) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (6) The spread over the Secured Overnight Financing Rate (“SOFR”) swap curve and the London Inter-Bank Offered Rate (“LIBOR”) swap curve represents the premium added to the proxy for the risk-free rate (SOFR or LIBOR, as applicable) to reflect the Company’s estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees as of June 30, 2023 and December 31, 2022, respectively. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. Effective April 2023, the Company entered into an agreement with The Ohio National Life Insurance Company ("Ohio National"), an affiliate of Constellation Insurance Holdings, Inc., to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. See Note 11 for additional information regarding this transaction. As a result of this transaction, a ceded MRB asset balance was established to fair value the reinsurance reimbursements to the Company. The establishment of the fair value also required an estimate of NPR for Ohio National, which may differ from that of the Company's; however, the NPR spreads for Ohio National were developed using a methodology similar to that of the Company. (7) The utilization rate assumption estimates the percentage of contracts that will utilize the benefit during the contract duration and begin lifetime withdrawals at various time intervals from contract inception. The remaining contractholders are assumed to either begin lifetime withdrawals immediately or never utilize the benefit. Utilization assumptions may vary by product type, tax status and age. The impact of changes in these assumptions is highly dependent on the product type, the age of the contractholder at the time of the sale, and the timing of the first lifetime income withdrawal. Range reflects the utilization rate for the vast majority of business with living benefits. (8) The withdrawal rate assumption estimates the magnitude of annual contractholder withdrawals relative to the maximum allowable amount under the contract. These assumptions vary based on the age of the contractholder, the tax status of the contract and the duration since the contractholder began lifetime withdrawals. As of June 30, 2023 and December 31, 2022, the minimum withdrawal rate assumption is 81% and 77%, respectively. As of June 30, 2023 and December 31, 2022, the maximum withdrawal rate assumption may be greater than 100%. The fair value of the liability will generally increase the closer the withdrawal rate is to 100% and decrease as the withdrawal rate moves further away from 100%. (9) The range reflects the mortality rates for the vast majority of business with living benefits and other contracts, with policyholders ranging from 50 to 90 years old. While the majority of living benefits have a minimum age requirement, certain other contracts do not have an age restriction. This results in contractholders with mortality rates approaching 0% for certain benefits. Mortality rates may vary by product, age, and duration. A mortality improvement assumption is also incorporated into the overall mortality table. (10) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life and annuity products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (11) Option budget estimates the expected long-term cost of options used to hedge exposures associated with equity price and interest rate changes. The level of option budgets determines future costs of the options, which impacts the growth in account value and the valuation of embedded derivatives. (12) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Interrelationships Between Unobservable Inputs – In addition to the sensitivities of fair value measurements to changes in each unobservable input in isolation, as reflected in the table above, interrelationships between these inputs may also exist, such that a change in one unobservable input may give rise to a change in another or multiple inputs. Examples of such interrelationships for significant internally-priced Level 3 assets and liabilities are as follows: Corporate Securities – The rate used to discount future cash flows reflects current risk-free rates plus credit and liquidity spread requirements that market participants would use to value an asset. The discount rate may be influenced by many factors, including market cycles, expectations of default, collateral, term, and asset complexity. Each of these factors can influence discount rates, either in isolation, or in response to other factors. During weaker economic cycles, as the expectations of default increases, credit spreads widen, which results in a decrease in fair value. Market Risk Benefits – The Company expects efficient benefit utilization and withdrawal rates to generally be correlated with lapse rates. However, behavior is generally highly dependent on the facts and circumstances surrounding the individual contractholder, such as their liquidity needs or tax situation, which could drive lapse behavior independent of other contractholder behavior assumptions. To the extent more efficient contractholder behavior results in greater in-the-moneyness at the contract level, lapse rates may decline for those contracts. Similarly, to the extent that increases in equity volatility are correlated with overall declines in the capital markets, lapse rates may decline as contracts become more in-the-money. Changes in Level 3 Assets and Liabilities – The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods (excluding MRBs disclosed in Note 10). When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Three Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 714 $ (13) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (16) Corporate securities(3) 535,893 1,876 216,778 (9,241) 0 (25,418) 1,359 0 0 721,247 1,773 Structured securities(4) 228,869 436 1,291 0 0 (725) 0 0 (83,532) 146,339 484 Other assets: Fixed maturities, trading 6,250 0 0 0 0 0 0 0 (6,250) 0 0 Equity securities 43,174 19 0 0 0 0 181 0 0 43,374 19 Short-term investments 14,416 717 1,146 0 0 (13,711) (1,359) 0 0 1,209 0 Other assets 155,763 26,381 38,983 0 0 (3,514) 0 0 0 217,613 19,779 Reinsurance recoverables 1,357 108 0 0 0 0 0 0 0 1,465 108 Separate account assets 4,553 159 840 (420) 0 (150) 0 0 0 4,982 159 Liabilities: Policyholders' account balances(5) (4,129,043) (1,017,564) 0 0 (439,615) 0 72,773 0 0 (5,513,449) (150,676) Three Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,138) $ 0 $ 0 $ 3,476 $ (39) $ (1,118) $ 0 $ 0 $ 3,359 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 19 0 0 0 0 19 0 0 Short-term investments 423 0 0 (124) 418 0 0 0 0 Other assets 26,381 0 0 0 0 19,779 0 0 0 Reinsurance recoverables 108 0 0 0 0 108 0 0 0 Separate account assets 0 0 159 0 0 0 0 159 0 Liabilities: Policyholders' account balances (1,017,564) 0 0 0 0 (150,676) 0 0 0 Six Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 724 $ (23) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (28) Corporate securities(3) 507,496 7,199 310,874 (28,839) 0 (76,842) 1,359 0 0 721,247 6,413 Structured securities(4) 104,724 (3,199) 147,307 (27) 0 (1,338) 0 2,240 (103,368) 146,339 (3,129) Other assets: Fixed maturities, trading 0 0 6,250 0 0 0 0 0 (6,250) 0 0 Equity securities 28,593 (811) 0 0 0 0 15,592 0 0 43,374 (811) Short-term investments 16,945 2,573 2,688 0 0 (19,638) (1,359) 0 0 1,209 51 Other assets 141,041 8,020 73,603 0 0 (5,051) 0 0 0 217,613 2,969 Reinsurance recoverables 0 1,465 0 0 0 0 0 0 0 1,465 1,465 Separate account assets 4,645 257 840 (600) 0 (160) 0 0 0 4,982 255 Liabilities: Policyholders' account balances(5) (3,502,096) (1,247,483) 0 0 (838,238) 0 74,368 0 0 (5,513,449) (234,970) Six Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (813) $ 0 $ 0 $ 4,440 $ 350 $ (2,019) $ 0 $ 0 $ 5,275 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 (811) 0 0 0 0 (811) 0 0 Short-term investments 1,857 0 0 (73) 789 0 0 0 51 Other assets 8,020 0 0 0 0 2,969 0 0 0 Reinsurance recoverables 1,465 0 0 0 0 1,465 0 0 0 Separate account assets 0 0 257 0 0 0 0 255 0 Liabilities: Policyholders' account balances (1,247,483) 0 0 0 0 (234,970) 0 0 0 Three Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 140 $ (5) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (5) Corporate securities(3) 385,358 (12,845) 83,901 (11,217) 0 (21,195) 0 0 (106,124) 317,878 (10,577) Structured securities(4) 112,116 (10,352) 33,490 0 0 (571) 0 0 (11,395) 123,288 (10,305) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 11,463 (1,111) 10,000 (230) 0 0 9,661 0 0 29,783 (1,129) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 75,201 8,050 (6,574) 0 0 (819) 0 0 0 75,858 7,231 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,260,195) 71,103 0 0 0 (238,575) 0 0 0 (3,427,667) (341,035) Three Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,909) $ 0 $ (21,240) $ (53) $ 631 $ 0 $ (21,518) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (1,111) 0 0 0 (1,129) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 8,050 0 0 0 7,231 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances 71,103 0 0 0 (341,035) 0 0 Six Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 150 $ (15) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (15) Corporate securities(3) 385,634 (49,220) 133,311 (12,388) 0 (33,335) 0 0 (106,124) 317,878 (47,042) Structured securities(4) 173,944 (22,328) 33,490 0 0 (1,073) 0 0 (60,745) 123,288 (22,280) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 12,472 (2,120) 10,000 (230) 0 0 9,661 0 0 29,783 (2,138) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 72,937 4,337 1,241 0 0 (2,657) 0 0 0 75,858 1,679 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,245,773) (29,550) 0 0 0 (391,366) 239,022 0 0 (3,427,667) (492,251) Six Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (16,812) $ 0 $ (55,081) $ 330 $ (14,380) $ 0 $ (54,957) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (2,120) 0 0 0 (2,138) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 4,337 0 0 0 1,679 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances (29,550) 0 0 0 (492,251) 0 0 (1) "Other" includes additional activity not allocated to the specific categories within the rollforward of Level 3 Assets and Liabilities. (2) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (3) Includes U.S. corporate private, foreign corporate public, foreign corporate private securities and foreign government bonds. (4) Includes asset-backed and commercial mortgage-backed securities. (5) Issuances and settlements for Policyholders' account balances are presented net in the rollforward. (6) Effective January 1, 2021, Future policy benefits previously included in “changes in level 3 assets and liabilities” are reported in Note 10 Market Risk Benefits. (7) Excludes MRB assets of $2,340 million and $1,423 million and MRB liabilities of $5,090 million and $6,686 million for period ending June 30, 2023 and 2022, respectively. See Note 10 for additional information. Nonrecurring Fair Value Measurements – The following tables represent information for assets measured at fair value on a nonrecurring basis. The fair value measurement is nonrecurring as these assets are measured at fair value only when there is a triggering event (e.g., an evidence of impairment). Assets included in the table are those that were impaired during the respective reporting periods and that are still held as of the reporting date. The estimated fair values for these amounts

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements	6 Months Ended
	Jun. 30, 2023
Deferred Charges, Insurers [Abstract]
Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements	DEFERRED POLICY ACQUISITION COSTS, DEFERRED REINSURANCE AND DEFERRED SALES INDUCEMENTS Deferred Policy Acquisition Costs The following tables show a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Six Months Ended June 30, 2023 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 102,251 $ 3,736,454 $ 648,837 $ 2,442,883 $ 6,930,425 Capitalization 48,552 117,342 72,216 275,783 513,893 Amortization expense (9,490) (166,332) (31,084) (59,736) (266,642) Other(1) 0 (393,385) 0 0 (393,385) Balance, end of period $ 141,313 $ 3,294,079 $ 689,969 $ 2,658,930 $ 6,784,291 (1) Other includes the impact of the reinsurance agreement with Ohio National. See Note 11 for additional information. Six Months Ended June 30, 2022 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 84,479 $ 3,806,733 $ 577,084 $ 2,561,011 $ 7,029,307 Capitalization 3,202 155,694 66,040 264,141 489,077 Amortization expense (6,773) (171,593) (26,020) (51,578) (255,964) Other(1) 0 0 2 (541,408) (541,406) Balance, end of period $ 80,908 $ 3,790,834 $ 617,106 $ 2,232,166 $ 6,721,014 (1) Other includes the impact of the reinsurance agreement with Lotus Re. Deferred Reinsurance Losses The following tables show a rollforward for the lines of business that contain DRL balances, along with a reconciliation to the Company's total DRL balance: Six Months Ended June 30, 2023 Variable Annuities Term Life Total (in thousands) Balance, beginning of period $ 223,515 $ 69,378 $ 292,893 Amortization expense (15,113) (4,280) (19,393) Balance, end of period $ 208,402 $ 65,098 $ 273,500 Six Months Ended June 30, 2022 Variable Annuities Term Life Total (in thousands) Balance, beginning of period $ 254,577 $ 78,426 $ 333,003 Amortization expense (15,399) (4,596) (19,995) Balance, end of period $ 239,178 $ 73,830 $ 313,008 Deferred Reinsurance Gains The following tables show a rollforward for the lines of business that contain DRG balances, along with a reconciliation to the Company's total DRG balance: Six Months Ended June 30, 2023 Fixed Annuities Variable Annuities Variable / Universal Life Total Balance, beginning of period $ 57,898 $ 0 $ 1,434,958 $ 1,492,856 Amortization (4,406) (5,209) (36,032) (45,647) Other(1) 0 277,262 0 277,262 Balance, end of period $ 53,492 $ 272,053 $ 1,398,926 $ 1,724,471 (1) Other includes the impact of the reinsurance agreement with Ohio National. See Note 11 for additional information. Six Months Ended June 30, 2022 Fixed Annuities Variable Annuities Variable / Universal Life Total Balance, beginning of period $ 78,138 $ 0 $ 174,598 $ 252,736 Amortization (3,194) 0 (43,159) (46,353) Other(1) (13,803) 0 1,340,312 1,326,509 Balance, end of period $ 61,141 $ 0 $ 1,471,751 $ 1,532,892 (1) Includes $1,352 million deferred gain related to the reinsurance agreement with Lotus Re, entered into January 1, 2022. Deferred Sales Inducements The following table shows a rollforward of DSI balances for variable annuity products, which is the only line of business that contains a DSI balance, along with a reconciliation to the Company's total DSI balance: Six Months Ended June 30, 2023 2022 Variable Annuities (in thousands) Balance, beginning of period $ 381,504 $ 414,619 Capitalization 1,503 664 Amortization expense (16,088) (17,191) Other (3) 0 Balance, end of period $ 366,916 $ 398,092

Separate Accounts

Separate Accounts	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Separate Accounts	SEPARATE ACCOUNTS The Company issues variable annuity and variable life insurance contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder. Most variable annuity and variable life insurance contracts are offered with both separate and general account options . See Note 9 for additional information. The assets supporting the variable portion of variable annuity and variable life insurance contracts are carried at fair value and reported as “Separate account assets” with an equivalent amount reported as “Separate account liabilities”. The liabilities related to the net amount at risk are reflected within future policy benefits or market risk benefits. Amounts assessed against the contractholders for mortality, administration, and other services are included within revenue in “Policy charges and fee income” and changes in liabilities for minimum guarantees are generally included in “Policyholders’ benefits” or “Realized investment gains (losses), net”. Separate Account Assets The aggregate fair value of assets, by major investment asset category, supporting separate accounts is as follows: June 30, 2023 December 31, 2022 (in thousands) Asset Type: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 2,948 $ 2,510 U.S. corporate securities 5,038 8,702 Foreign corporate securities 1,796 1,420 Mortgage-backed securities 282 276 Mutual funds: Equity 71,084,752 67,144,660 Fixed Income 37,875,086 38,109,374 Other 3,967,348 3,441,016 Equity securities 83,396 49,260 Other invested assets 4,805,171 5,262,178 Short-term investments 1,691 1,237 Cash and cash equivalents 12,647 30,613 Total $ 117,840,155 $ 114,051,246 For the six months ended June 30, 2023 and year ended December 31, 2022, there were no transfers of assets, other than cash, from the general account to a separate account; therefore, no gains or losses were recorded. Separate Account Liabilities The balances of and changes in separate account liabilities as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 91,785,448 $ 22,265,798 $ 114,051,246 Deposits 200,961 1,376,552 1,577,513 Investment performance 7,184,460 2,535,342 9,719,802 Policy charges (1,171,455) (405,108) (1,576,563) Surrenders and withdrawals (4,561,633) (214,686) (4,776,319) Benefit payments (43,056) (107,641) (150,697) Net transfers (to) from general account(1) (4,995) (1,035,554) (1,040,549) Other 5,405 30,317 35,722 Balance, end of period $ 93,395,135 $ 24,445,020 $ 117,840,155 Cash surrender value(2) $ 92,036,034 $ 21,526,262 $ 113,562,296 Six Months Ended June 30, 2022 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Deposits 392,364 1,140,622 1,532,986 Investment performance (21,112,961) (4,540,002) (25,652,963) Policy charges (1,315,427) (378,197) (1,693,624) Surrenders and withdrawals (4,594,845) (178,115) (4,772,960) Benefit payments (35,662) (134,299) (169,961) Net transfers (to) from general account (157,771) (126,364) (284,135) Other 6,241 28,707 34,948 Balance, end of period $ 97,159,563 $ 21,632,556 $ 118,792,119 Cash surrender value(2) $ 95,384,568 $ 19,001,929 $ 114,386,497 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges.

Liability For Future Policy Ben

Liability For Future Policy Benefits	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Liability For Future Policy Benefits	LIABILITY FOR FUTURE POLICY BENEFITS Liability for Future Policy Benefits primarily consists of the following sub-components, which are discussed in greater detail below. • Benefit Reserves; • Deferred Profit Liability; and • Additional Insurance Reserves In 2023, the Company recognized an immaterial impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to unfavorable model refinements, partially offset by favorable updates to economic assumptions, including expected future rates of returns on investments on universal life policies with secondary guarantees. In 2022, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves, primarily due to updates to mortality assumptions on individual term life insurance. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to updates to policyholder behavior assumptions on universal life policies with secondary guarantees. Benefit Reserves The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits. Six Months Ended June 30, 2023 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 10,911,794 $ 0 $ 10,911,794 Effect of cumulative changes in discount rate assumptions, beginning of period 554,896 0 554,896 Balance at original discount rate, beginning of period 11,466,690 0 11,466,690 Effect of assumption update (790) 0 (790) Effect of actual variances from expected experience and other activity (65,230) (1,257) (66,487) Adjusted balance, beginning of period 11,400,670 (1,257) 11,399,413 Issuances 318,867 23,211 342,078 Net premiums / considerations collected (674,147) (21,954) (696,101) Interest accrual 261,862 0 261,862 Balance at original discount rate, end of period 11,307,252 0 11,307,252 Effect of cumulative changes in discount rate assumptions, end of period (484,287) 0 (484,287) Balance, end of period $ 10,822,965 $ 0 $ 10,822,965 Six Months Ended June 30, 2023 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 17,835,251 $ 204,727 $ 18,039,978 Effect of cumulative changes in discount rate assumptions, beginning of period 962,034 24,876 986,910 Balance at original discount rate, beginning of period 18,797,285 229,603 19,026,888 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (87,110) 4,195 (82,915) Adjusted balance, beginning of period 18,709,131 233,798 18,942,929 Issuances 318,867 23,211 342,078 Interest accrual 447,387 4,201 451,588 Benefit payments (716,919) (14,838) (731,757) Other adjustments 1,558 (33) 1,525 Balance at original discount rate, end of period 18,760,024 246,339 19,006,363 Effect of cumulative changes in discount rate assumptions, end of period (791,413) (26,245) (817,658) Balance, end of period $ 17,968,611 $ 220,094 $ 18,188,705 Other, end of period 1,941 Total balance, end of period $ 18,190,646 Six Months Ended June 30, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,145,646 $ 220,094 $ 7,365,740 Less: Reinsurance recoverable 6,614,071 17,835 6,631,906 Balance after reinsurance recoverable, end of period, post-flooring $ 531,575 $ 202,259 $ 733,834 Six Months Ended June 30, 2022 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,485,056 $ 0 $ 12,485,056 Effect of cumulative changes in discount rate assumptions, beginning of period (1,826,120) 0 (1,826,120) Balance at original discount rate, beginning of period 10,658,936 0 10,658,936 Effect of assumption update 1,295,294 0 1,295,294 Effect of actual variances from expected experience and other activity (84,412) (78) (84,490) Adjusted balance, beginning of period 11,869,818 (78) 11,869,740 Issuances 187,092 17,356 204,448 Net premiums / considerations collected (657,195) (17,278) (674,473) Interest accrual 257,706 0 257,706 Balance at original discount rate, end of period 11,657,421 0 11,657,421 Effect of cumulative changes in discount rate assumptions, end of period 22,765 0 22,765 Balance, end of period $ 11,680,186 $ 0 $ 11,680,186 Six Months Ended June 30, 2022 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 20,937,097 $ 237,065 $ 21,174,162 Effect of cumulative changes in discount rate assumptions, beginning of period (3,607,275) (16,704) (3,623,979) Balance at original discount rate, beginning of period 17,329,822 220,361 17,550,183 Effect of assumption update 1,756,995 0 1,756,995 Effect of actual variances from expected experience and other activity (167,637) 351 (167,286) Adjusted balance, beginning of period 18,919,180 220,712 19,139,892 Issuances 187,092 17,357 204,449 Interest accrual 436,119 3,809 439,928 Benefit payments (738,715) (13,658) (752,373) Other adjustments 1,781 (285) 1,496 Balance at original discount rate, end of period 18,805,457 227,935 19,033,392 Effect of cumulative changes in discount rate assumptions, end of period 144,406 (16,737) 127,669 Balance, end of period $ 18,949,863 $ 211,198 $ 19,161,061 Other, end of period 2,235 Total balance, end of period $ 19,163,296 Six Months Ended June 30, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,269,677 $ 211,198 $ 7,480,875 Less: Reinsurance recoverable 6,847,216 16,488 6,863,704 Balance after reinsurance recoverable, end of period, post-flooring $ 422,461 $ 194,710 $ 617,171 The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the periods indicated: Six Months Ended June 30, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,948,491 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,125,847 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,493,623 $ 0 Undiscounted expected future benefits and expenses $ 29,156,389 $ 328,414 Interest accrual $ 185,524 $ 4,201 Gross premiums $ 900,634 $ 24,200 Weighted-average duration of the liability in years (at original discount rate) 10 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.20 % 3.57 % Weighted-average interest rate (at current discount rate) 5.28 % 5.27 % Six Months Ended June 30, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,348,506 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,414,984 $ 0 Discounted expected future gross premiums (at current discount rate) $ 15,442,782 $ 0 Undiscounted expected future benefits and expenses $ 29,470,523 $ 302,195 Interest accrual $ 178,413 $ 3,809 Gross premiums $ 925,202 $ 19,545 Weighted-average duration of the liability in years (at original discount rate) 11 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.28 % 3.44 % Weighted-average interest rate (at current discount rate) 4.63 % 4.54 % For additional information regarding observable market information and the techniques used to determine the interest rate assumptions seen above, see Note 2. For non-participating traditional and limited-payment products, if a cohort is in a loss position where the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for the present value of expected future policy benefits and non-level claim settlement expenses, then the liability for future policy benefits is adjusted at that time, and thereafter such that all changes, both favorable and unfavorable, in expected benefits resulting from both actual experience deviations and changes in future assumptions are recognized immediately as a gain or loss. In the first six months of 2023, there was a $30 million gain in net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, which was offset by a $30 million charge, reflecting the impact of ceded reinsurance on the affected cohorts. In the first six months of 2022, there was a $99 million charge to net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, mostly offset by a $97 million gain, reflecting the impact of ceded reinsurance on the affected cohorts. The unfavorable impact in the first six months of 2022 is primarily due to unfavorable assumption updates related to individual term life products. Deferred Profit Liability The balances of and changes in Deferred Profit Liability as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 Effect of actual variances from expected experience and other activity (5,092) (607) Adjusted balance, beginning of period 13,101 15,158 Profits deferred 2,088 2,173 Interest accrual 294 276 Amortization (973) (950) Other adjustments (8) (25) Balance, end of period 14,502 16,632 Less: Reinsurance recoverable 1,558 1,722 Balance after reinsurance recoverable $ 12,944 $ 14,910 The following table provides supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated table above, on a gross (direct and assumed) basis, as of and for the period indicated: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Revenue(1) $ 3,691 $ (867) Interest accrual 294 276 (1) Represents the gross premiums collected in changes in deferred profit liability. Additional Insurance Reserves AIR represents the additional liability for annuitization, death, or other insurance benefits, including GMDB and GMIB contract features, that are above and beyond the contractholder's account balance. The following table shows a rollforward of AIR balances for variable and universal life products for the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 Flooring impact and amounts in AOCI 1,269,237 (896,930) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,682 10,763,597 Effect of assumption update 22,910 2,197,592 Effect of actual variances from expected experience and other activity 26,204 (157,782) Adjusted balance, beginning of period 13,982,796 12,803,407 Assessments collected(1) 513,593 446,443 Interest accrual 237,869 203,986 Benefits paid (151,097) (100,856) Balance, excluding amounts in AOCI, end of period, pre-flooring 14,583,161 13,352,980 Flooring impact and amounts in AOCI (1,094,298) (859,387) Balance, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Less: Reinsurance recoverable 13,268,534 12,282,253 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 220,329 $ 211,340 (1) Represents the portion of gross assessments required to fund the future policy benefits. Six Months Ended June 30, 2023 2022 ($ in thousands) Interest accrual $ 237,869 $ 203,986 Gross assessments $ 785,370 $ 627,513 Weighted-average duration of the liability in years (at original discount rate) 22 23 Weighted-average interest rate (at original discount rate) 3.39 % 3.72 % Future Policy Benefits Reconciliation The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Unaudited Interim Consolidated Statements of Financial Position as of the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Benefit reserves, end of period, post-flooring $ 7,365,740 $ 7,480,875 Deferred profit liability, end of period, post-flooring 14,502 16,632 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Subtotal of amounts disclosed above 20,869,105 19,991,100 Other Future policy benefits reserves(1) 1,108,889 1,035,166 Total Future policy benefits $ 21,977,994 $ 21,026,266 (1) Represents balances for which disaggregated rollforward disclosures are not required, including unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities. Revenue and Interest Expense The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations for the periods indicated: Six Months Ended June 30, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 900,634 $ 0 $ 24,200 $ 924,834 Deferred profit liability 0 0 3,691 3,691 Additional insurance reserves 0 785,370 0 785,370 Total $ 900,634 $ 785,370 $ 27,891 $ 1,713,895 Six Months Ended June 30, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 925,202 $ 0 $ 19,545 $ 944,747 Deferred profit liability 0 0 (867) (867) Additional insurance reserves 0 627,513 0 627,513 Total $ 925,202 $ 627,513 $ 18,678 $ 1,571,393 (1) Represents "Gross premiums" for benefit reserves; "Revenue" for deferred profit liability and "Gross assessments" for additional insurance reserves. Six Months Ended June 30, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 185,524 $ 0 $ 4,201 $ 189,725 Deferred profit liability 0 0 294 294 Additional insurance reserves 0 237,869 0 237,869 Total $ 185,524 $ 237,869 $ 4,495 $ 427,888 Six Months Ended June 30, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 178,413 $ 0 $ 3,809 $ 182,222 Deferred profit liability 0 0 276 276 Additional insurance reserves 0 203,986 0 203,986 Total $ 178,413 $ 203,986 $ 4,085 $ 386,484 Policyholders' Account Balances The balance of and changes in policyholders' account balances as of and for the periods ended are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 16,432,032 $ 18,736,365 $ 35,168,397 Deposits 2,225,558 1,030,843 3,256,401 Interest credited 131,119 278,886 410,005 Policy charges (10,684) (903,228) (913,912) Surrenders and withdrawals (233,470) (400,194) (633,664) Benefit payments (15,067) (42,131) (57,198) Net transfers (to) from separate account(1) 4,995 1,035,554 1,040,549 Change in market value and other adjustments(2) 954,563 139,608 1,094,171 Balance, end of period 19,489,046 19,875,703 39,364,749 Less: Reinsurance and other recoverables(3) 418,986 12,872,063 13,291,049 Policyholders' account balance net of reinsurance and other recoverables $ 19,070,060 $ 7,003,640 $ 26,073,700 Unearned revenue reserve 3,401,994 Other(4) 4,841,412 Total Policyholders' account balance $ 47,608,155 Weighted-average crediting rate 1.46 % 2.89 % 2.20 % Net amount at risk(5) $ 0 $ 313,218,977 $ 313,218,977 Cash surrender value(6) $ 17,391,104 $ 18,341,323 $ 35,732,427 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (4) Includes $4,740 million of fixed annuities account balances. (5) The net amount at risk calculation includes both general and separate account balances. (6) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. Six Months Ended June 30, 2022 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 11,465,411 $ 18,762,548 $ 30,227,959 Deposits 2,709,044 1,085,659 3,794,703 Interest credited 31,825 290,089 321,914 Policy charges (1,003) (896,223) (897,226) Surrenders and withdrawals (113,369) (433,915) (547,284) Benefit payments (20,563) (54,384) (74,947) Net transfers (to) from separate account 157,771 126,364 284,135 Change in market value and other adjustments(1) 517,047 (232,805) 284,242 Balance, end of period 14,746,163 18,647,333 33,393,496 Less: Reinsurance and other recoverables(2) 334,311 12,954,996 13,289,307 Policyholders' account balance net of reinsurance and other recoverables $ 14,411,852 $ 5,692,337 $ 20,104,189 Unearned revenue reserve 2,729,057 Other(3) 3,081,856 Total Policyholders' account balance $ 39,204,409 Weighted-average crediting rate 0.49 % 3.10 % 2.02 % Net amount at risk(4) $ 0 $ 295,739,871 $ 295,739,871 Cash surrender value(5) $ 11,912,977 $ 17,028,535 $ 28,941,512 (1) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (2) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (3) Includes $2,983 million of fixed annuities account balances. (4) The net amount at risk calculation includes both general and separate account balances. (5) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. The Company issues variable life and universal life insurance contracts which may also include a “no-lapse guarantee” where the Company contractually guarantees to the contractholder a death benefit even when the account value drops to zero, as long as the “no-lapse guarantee” premium is paid. The net amount at risk is generally defined as the current death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including contractholder mortality, contract lapses, and premium pattern, as well as interest rate and equity market returns. The Company also issues annuity contracts that provide certain death benefit and/or living benefit guarantees and are accounted for as MRBs. See Note 10 for additional information, including the net amount at risk associated with these guarantees. The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums are as follows: June 30, 2023 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 -50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 972,976 $ 833,696 $ 18,454 $ 2 $ 1,825,128 1.00% - 1.99% 229,049 2,126 1,094 0 232,269 2.00% - 2.99% 24,531 4,090 0 0 28,621 3.00% - 4.00% 990,408 2,859 0 0 993,267 Greater than 4.00% 2,091 0 0 0 2,091 Total $ 2,219,055 $ 842,771 $ 19,548 $ 2 $ 3,081,376 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 9,078 $ 9,078 1.00% - 1.99% 163,616 0 2,706,552 363,119 3,233,287 2.00% - 2.99% 21,001 1,399,691 2,765,577 267,001 4,453,270 3.00% - 4.00% 4,555,992 1,985,262 1,110,457 0 7,651,711 Greater than 4.00% 2,159,217 0 0 0 2,159,217 Total $ 6,899,826 $ 3,384,953 $ 6,582,586 $ 639,198 $ 17,506,563 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. June 30, 2022 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 - 50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 1,050,808 $ 877,536 $ 18,943 $ 2 $ 1,947,289 1.00% - 1.99% 251,989 1,682 0 0 253,671 2.00% - 2.99% 30,850 63 0 0 30,913 3.00% - 4.00% 1,127,302 0 0 0 1,127,302 Greater than 4.00% 2,146 0 0 0 2,146 Total $ 2,463,095 $ 879,281 $ 18,943 $ 2 $ 3,361,321 Variable Life / Universal Life Less than 1.00% $ 16,033 $ 0 $ 0 $ 0 $ 16,033 1.00% - 1.99% 340,859 0 694,771 1,978,385 3,014,015 2.00% - 2.99% 8,519 0 2,259,847 2,099,855 4,368,221 3.00% - 4.00% 4,625,968 11,776 2,308,532 138,389 7,084,665 Greater than 4.00% 2,094,298 0 0 0 2,094,298 Total $ 7,085,677 $ 11,776 $ 5,263,150 $ 4,216,629 $ 16,577,232 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. Unearned Revenue Reserve The balances of and changes in URR as of and for the periods ended are as follows: Six Months Ended June 30, 2023 2022 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 Unearned revenue 405,732 393,675 Amortization expense (70,981) (63,472) Other adjustments (93) 66 Balance, end of period 3,401,994 2,729,057 Less: Reinsurance recoverables 1,621,229 1,450,592 Unearned revenue reserve net of reinsurance recoverables $ 1,780,765 $ 1,278,465 The following tables show a rollforward of MRB balances for variable annuity products, along with a reconciliation to the Company’s total net MRB positions as of the following dates: Six Months Ended June 30, 2023 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 4,550,625 $ (422,261) $ 4,128,364 Effect of cumulative changes in non-performance risk 1,727,910 0 1,727,910 Balance, beginning of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Attributed fees collected 587,663 (107,425) 480,238 Claims paid (43,782) 3,681 (40,101) Interest accrual 160,106 (20,505) 139,601 Actual in force different from expected 36,193 (6,069) 30,124 Effect of changes in interest rates (671,989) 169,229 (502,760) Effect of changes in equity markets (1,314,461) 127,157 (1,187,304) Effect of assumption update 330,769 (54,067) 276,702 Issuances 11,403 9,025 20,428 Other adjustments(1) (17,436) (638,198) (655,634) Effect of changes in current period counterparty non-performance risk 0 (7,445) (7,445) Balance, end of period, before effect of changes in non-performance risk 5,357,001 (946,878) 4,410,123 Effect of cumulative changes in non-performance risk (1,660,587) 0 (1,660,587) Balance, end of period $ 3,696,414 $ (946,878) $ 2,749,536 Six Months Ended June 30, 2022 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 8,884,362 $ (906,484) $ 7,977,878 Effect of cumulative changes in non-performance risk 287,605 0 287,605 Balance, beginning of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Attributed fees collected 659,743 (77,427) 582,316 Claims paid (16,431) 318 (16,113) Interest accrual 26,589 (2,564) 24,025 Actual in force different from expected 44,344 (4,746) 39,598 Effect of changes in interest rates (5,067,986) 527,662 (4,540,324) Effect of changes in equity markets 3,238,166 (339,149) 2,899,017 Effect of assumption update (160,596) 23,170 (137,426) Effect of changes in current period counterparty non-performance risk 0 223,753 223,753 Balance, end of period, before effect of changes in non-performance risk 7,895,796 (555,467) 7,340,329 Effect of cumulative changes in non-performance risk (2,077,191) 0 (2,077,191) Balance, end of period $ 5,818,605 $ (555,467) $ 5,263,138 (1) Other adjustments for June 30, 2023 primarily includes $638 million related to the reinsurance transaction with Ohio National. See Note 11 for additional information. In 2023, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to policyholder behavior assumptions on certain variable annuities. In 2022, the Company recognized a favorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to mortality and policyholder behavior assumptions on certain variable annuities. The Company issues certain variable annuity insurance contracts where the Company contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return, and/or (2) the highest anniversary contract value on a specified date adjusted for any withdrawals. These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issues indexed variable annuity contracts for which the return is tied to the return of specific indices where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals upon death. In certain of these indexed variable annuity contracts, the Company also contractually guarantees to the contractholder withdrawal benefits payable during specific periods. For guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility and contractholder behavior. The following table presents accompanying information to the rollforward table above. June 30, 2023 June 30, 2022 Variable Annuities ($ in thousands) Net amount at risk(1) $ 10,067,522 $ 10,510,747 Weighted-average attained age of contractholders 69 68 (1) For contracts with multiple benefit features, the highest net amount at risk for each contract is included. The table below reconciles MRB asset and liability positions as of the following dates: June 30, 2023 June 30, 2022 Variable Annuities (in thousands) Market risk benefit assets $ 2,340,230 $ 1,422,757 Market risk benefit liabilities 5,089,766 6,685,895 Net liability $ 2,749,536 $ 5,263,138

Policyholders' Liabilities

Policyholders' Liabilities	6 Months Ended
	Jun. 30, 2023
Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Abstract]
Policyholders' Liabilities	LIABILITY FOR FUTURE POLICY BENEFITS Liability for Future Policy Benefits primarily consists of the following sub-components, which are discussed in greater detail below. • Benefit Reserves; • Deferred Profit Liability; and • Additional Insurance Reserves In 2023, the Company recognized an immaterial impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to unfavorable model refinements, partially offset by favorable updates to economic assumptions, including expected future rates of returns on investments on universal life policies with secondary guarantees. In 2022, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves, primarily due to updates to mortality assumptions on individual term life insurance. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to updates to policyholder behavior assumptions on universal life policies with secondary guarantees. Benefit Reserves The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits. Six Months Ended June 30, 2023 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 10,911,794 $ 0 $ 10,911,794 Effect of cumulative changes in discount rate assumptions, beginning of period 554,896 0 554,896 Balance at original discount rate, beginning of period 11,466,690 0 11,466,690 Effect of assumption update (790) 0 (790) Effect of actual variances from expected experience and other activity (65,230) (1,257) (66,487) Adjusted balance, beginning of period 11,400,670 (1,257) 11,399,413 Issuances 318,867 23,211 342,078 Net premiums / considerations collected (674,147) (21,954) (696,101) Interest accrual 261,862 0 261,862 Balance at original discount rate, end of period 11,307,252 0 11,307,252 Effect of cumulative changes in discount rate assumptions, end of period (484,287) 0 (484,287) Balance, end of period $ 10,822,965 $ 0 $ 10,822,965 Six Months Ended June 30, 2023 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 17,835,251 $ 204,727 $ 18,039,978 Effect of cumulative changes in discount rate assumptions, beginning of period 962,034 24,876 986,910 Balance at original discount rate, beginning of period 18,797,285 229,603 19,026,888 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (87,110) 4,195 (82,915) Adjusted balance, beginning of period 18,709,131 233,798 18,942,929 Issuances 318,867 23,211 342,078 Interest accrual 447,387 4,201 451,588 Benefit payments (716,919) (14,838) (731,757) Other adjustments 1,558 (33) 1,525 Balance at original discount rate, end of period 18,760,024 246,339 19,006,363 Effect of cumulative changes in discount rate assumptions, end of period (791,413) (26,245) (817,658) Balance, end of period $ 17,968,611 $ 220,094 $ 18,188,705 Other, end of period 1,941 Total balance, end of period $ 18,190,646 Six Months Ended June 30, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,145,646 $ 220,094 $ 7,365,740 Less: Reinsurance recoverable 6,614,071 17,835 6,631,906 Balance after reinsurance recoverable, end of period, post-flooring $ 531,575 $ 202,259 $ 733,834 Six Months Ended June 30, 2022 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,485,056 $ 0 $ 12,485,056 Effect of cumulative changes in discount rate assumptions, beginning of period (1,826,120) 0 (1,826,120) Balance at original discount rate, beginning of period 10,658,936 0 10,658,936 Effect of assumption update 1,295,294 0 1,295,294 Effect of actual variances from expected experience and other activity (84,412) (78) (84,490) Adjusted balance, beginning of period 11,869,818 (78) 11,869,740 Issuances 187,092 17,356 204,448 Net premiums / considerations collected (657,195) (17,278) (674,473) Interest accrual 257,706 0 257,706 Balance at original discount rate, end of period 11,657,421 0 11,657,421 Effect of cumulative changes in discount rate assumptions, end of period 22,765 0 22,765 Balance, end of period $ 11,680,186 $ 0 $ 11,680,186 Six Months Ended June 30, 2022 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 20,937,097 $ 237,065 $ 21,174,162 Effect of cumulative changes in discount rate assumptions, beginning of period (3,607,275) (16,704) (3,623,979) Balance at original discount rate, beginning of period 17,329,822 220,361 17,550,183 Effect of assumption update 1,756,995 0 1,756,995 Effect of actual variances from expected experience and other activity (167,637) 351 (167,286) Adjusted balance, beginning of period 18,919,180 220,712 19,139,892 Issuances 187,092 17,357 204,449 Interest accrual 436,119 3,809 439,928 Benefit payments (738,715) (13,658) (752,373) Other adjustments 1,781 (285) 1,496 Balance at original discount rate, end of period 18,805,457 227,935 19,033,392 Effect of cumulative changes in discount rate assumptions, end of period 144,406 (16,737) 127,669 Balance, end of period $ 18,949,863 $ 211,198 $ 19,161,061 Other, end of period 2,235 Total balance, end of period $ 19,163,296 Six Months Ended June 30, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,269,677 $ 211,198 $ 7,480,875 Less: Reinsurance recoverable 6,847,216 16,488 6,863,704 Balance after reinsurance recoverable, end of period, post-flooring $ 422,461 $ 194,710 $ 617,171 The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the periods indicated: Six Months Ended June 30, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,948,491 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,125,847 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,493,623 $ 0 Undiscounted expected future benefits and expenses $ 29,156,389 $ 328,414 Interest accrual $ 185,524 $ 4,201 Gross premiums $ 900,634 $ 24,200 Weighted-average duration of the liability in years (at original discount rate) 10 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.20 % 3.57 % Weighted-average interest rate (at current discount rate) 5.28 % 5.27 % Six Months Ended June 30, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,348,506 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,414,984 $ 0 Discounted expected future gross premiums (at current discount rate) $ 15,442,782 $ 0 Undiscounted expected future benefits and expenses $ 29,470,523 $ 302,195 Interest accrual $ 178,413 $ 3,809 Gross premiums $ 925,202 $ 19,545 Weighted-average duration of the liability in years (at original discount rate) 11 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.28 % 3.44 % Weighted-average interest rate (at current discount rate) 4.63 % 4.54 % For additional information regarding observable market information and the techniques used to determine the interest rate assumptions seen above, see Note 2. For non-participating traditional and limited-payment products, if a cohort is in a loss position where the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for the present value of expected future policy benefits and non-level claim settlement expenses, then the liability for future policy benefits is adjusted at that time, and thereafter such that all changes, both favorable and unfavorable, in expected benefits resulting from both actual experience deviations and changes in future assumptions are recognized immediately as a gain or loss. In the first six months of 2023, there was a $30 million gain in net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, which was offset by a $30 million charge, reflecting the impact of ceded reinsurance on the affected cohorts. In the first six months of 2022, there was a $99 million charge to net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, mostly offset by a $97 million gain, reflecting the impact of ceded reinsurance on the affected cohorts. The unfavorable impact in the first six months of 2022 is primarily due to unfavorable assumption updates related to individual term life products. Deferred Profit Liability The balances of and changes in Deferred Profit Liability as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 Effect of actual variances from expected experience and other activity (5,092) (607) Adjusted balance, beginning of period 13,101 15,158 Profits deferred 2,088 2,173 Interest accrual 294 276 Amortization (973) (950) Other adjustments (8) (25) Balance, end of period 14,502 16,632 Less: Reinsurance recoverable 1,558 1,722 Balance after reinsurance recoverable $ 12,944 $ 14,910 The following table provides supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated table above, on a gross (direct and assumed) basis, as of and for the period indicated: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Revenue(1) $ 3,691 $ (867) Interest accrual 294 276 (1) Represents the gross premiums collected in changes in deferred profit liability. Additional Insurance Reserves AIR represents the additional liability for annuitization, death, or other insurance benefits, including GMDB and GMIB contract features, that are above and beyond the contractholder's account balance. The following table shows a rollforward of AIR balances for variable and universal life products for the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 Flooring impact and amounts in AOCI 1,269,237 (896,930) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,682 10,763,597 Effect of assumption update 22,910 2,197,592 Effect of actual variances from expected experience and other activity 26,204 (157,782) Adjusted balance, beginning of period 13,982,796 12,803,407 Assessments collected(1) 513,593 446,443 Interest accrual 237,869 203,986 Benefits paid (151,097) (100,856) Balance, excluding amounts in AOCI, end of period, pre-flooring 14,583,161 13,352,980 Flooring impact and amounts in AOCI (1,094,298) (859,387) Balance, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Less: Reinsurance recoverable 13,268,534 12,282,253 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 220,329 $ 211,340 (1) Represents the portion of gross assessments required to fund the future policy benefits. Six Months Ended June 30, 2023 2022 ($ in thousands) Interest accrual $ 237,869 $ 203,986 Gross assessments $ 785,370 $ 627,513 Weighted-average duration of the liability in years (at original discount rate) 22 23 Weighted-average interest rate (at original discount rate) 3.39 % 3.72 % Future Policy Benefits Reconciliation The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Unaudited Interim Consolidated Statements of Financial Position as of the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Benefit reserves, end of period, post-flooring $ 7,365,740 $ 7,480,875 Deferred profit liability, end of period, post-flooring 14,502 16,632 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Subtotal of amounts disclosed above 20,869,105 19,991,100 Other Future policy benefits reserves(1) 1,108,889 1,035,166 Total Future policy benefits $ 21,977,994 $ 21,026,266 (1) Represents balances for which disaggregated rollforward disclosures are not required, including unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities. Revenue and Interest Expense The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations for the periods indicated: Six Months Ended June 30, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 900,634 $ 0 $ 24,200 $ 924,834 Deferred profit liability 0 0 3,691 3,691 Additional insurance reserves 0 785,370 0 785,370 Total $ 900,634 $ 785,370 $ 27,891 $ 1,713,895 Six Months Ended June 30, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 925,202 $ 0 $ 19,545 $ 944,747 Deferred profit liability 0 0 (867) (867) Additional insurance reserves 0 627,513 0 627,513 Total $ 925,202 $ 627,513 $ 18,678 $ 1,571,393 (1) Represents "Gross premiums" for benefit reserves; "Revenue" for deferred profit liability and "Gross assessments" for additional insurance reserves. Six Months Ended June 30, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 185,524 $ 0 $ 4,201 $ 189,725 Deferred profit liability 0 0 294 294 Additional insurance reserves 0 237,869 0 237,869 Total $ 185,524 $ 237,869 $ 4,495 $ 427,888 Six Months Ended June 30, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 178,413 $ 0 $ 3,809 $ 182,222 Deferred profit liability 0 0 276 276 Additional insurance reserves 0 203,986 0 203,986 Total $ 178,413 $ 203,986 $ 4,085 $ 386,484 Policyholders' Account Balances The balance of and changes in policyholders' account balances as of and for the periods ended are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 16,432,032 $ 18,736,365 $ 35,168,397 Deposits 2,225,558 1,030,843 3,256,401 Interest credited 131,119 278,886 410,005 Policy charges (10,684) (903,228) (913,912) Surrenders and withdrawals (233,470) (400,194) (633,664) Benefit payments (15,067) (42,131) (57,198) Net transfers (to) from separate account(1) 4,995 1,035,554 1,040,549 Change in market value and other adjustments(2) 954,563 139,608 1,094,171 Balance, end of period 19,489,046 19,875,703 39,364,749 Less: Reinsurance and other recoverables(3) 418,986 12,872,063 13,291,049 Policyholders' account balance net of reinsurance and other recoverables $ 19,070,060 $ 7,003,640 $ 26,073,700 Unearned revenue reserve 3,401,994 Other(4) 4,841,412 Total Policyholders' account balance $ 47,608,155 Weighted-average crediting rate 1.46 % 2.89 % 2.20 % Net amount at risk(5) $ 0 $ 313,218,977 $ 313,218,977 Cash surrender value(6) $ 17,391,104 $ 18,341,323 $ 35,732,427 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (4) Includes $4,740 million of fixed annuities account balances. (5) The net amount at risk calculation includes both general and separate account balances. (6) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. Six Months Ended June 30, 2022 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 11,465,411 $ 18,762,548 $ 30,227,959 Deposits 2,709,044 1,085,659 3,794,703 Interest credited 31,825 290,089 321,914 Policy charges (1,003) (896,223) (897,226) Surrenders and withdrawals (113,369) (433,915) (547,284) Benefit payments (20,563) (54,384) (74,947) Net transfers (to) from separate account 157,771 126,364 284,135 Change in market value and other adjustments(1) 517,047 (232,805) 284,242 Balance, end of period 14,746,163 18,647,333 33,393,496 Less: Reinsurance and other recoverables(2) 334,311 12,954,996 13,289,307 Policyholders' account balance net of reinsurance and other recoverables $ 14,411,852 $ 5,692,337 $ 20,104,189 Unearned revenue reserve 2,729,057 Other(3) 3,081,856 Total Policyholders' account balance $ 39,204,409 Weighted-average crediting rate 0.49 % 3.10 % 2.02 % Net amount at risk(4) $ 0 $ 295,739,871 $ 295,739,871 Cash surrender value(5) $ 11,912,977 $ 17,028,535 $ 28,941,512 (1) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (2) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (3) Includes $2,983 million of fixed annuities account balances. (4) The net amount at risk calculation includes both general and separate account balances. (5) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. The Company issues variable life and universal life insurance contracts which may also include a “no-lapse guarantee” where the Company contractually guarantees to the contractholder a death benefit even when the account value drops to zero, as long as the “no-lapse guarantee” premium is paid. The net amount at risk is generally defined as the current death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including contractholder mortality, contract lapses, and premium pattern, as well as interest rate and equity market returns. The Company also issues annuity contracts that provide certain death benefit and/or living benefit guarantees and are accounted for as MRBs. See Note 10 for additional information, including the net amount at risk associated with these guarantees. The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums are as follows: June 30, 2023 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 -50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 972,976 $ 833,696 $ 18,454 $ 2 $ 1,825,128 1.00% - 1.99% 229,049 2,126 1,094 0 232,269 2.00% - 2.99% 24,531 4,090 0 0 28,621 3.00% - 4.00% 990,408 2,859 0 0 993,267 Greater than 4.00% 2,091 0 0 0 2,091 Total $ 2,219,055 $ 842,771 $ 19,548 $ 2 $ 3,081,376 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 9,078 $ 9,078 1.00% - 1.99% 163,616 0 2,706,552 363,119 3,233,287 2.00% - 2.99% 21,001 1,399,691 2,765,577 267,001 4,453,270 3.00% - 4.00% 4,555,992 1,985,262 1,110,457 0 7,651,711 Greater than 4.00% 2,159,217 0 0 0 2,159,217 Total $ 6,899,826 $ 3,384,953 $ 6,582,586 $ 639,198 $ 17,506,563 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. June 30, 2022 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 - 50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 1,050,808 $ 877,536 $ 18,943 $ 2 $ 1,947,289 1.00% - 1.99% 251,989 1,682 0 0 253,671 2.00% - 2.99% 30,850 63 0 0 30,913 3.00% - 4.00% 1,127,302 0 0 0 1,127,302 Greater than 4.00% 2,146 0 0 0 2,146 Total $ 2,463,095 $ 879,281 $ 18,943 $ 2 $ 3,361,321 Variable Life / Universal Life Less than 1.00% $ 16,033 $ 0 $ 0 $ 0 $ 16,033 1.00% - 1.99% 340,859 0 694,771 1,978,385 3,014,015 2.00% - 2.99% 8,519 0 2,259,847 2,099,855 4,368,221 3.00% - 4.00% 4,625,968 11,776 2,308,532 138,389 7,084,665 Greater than 4.00% 2,094,298 0 0 0 2,094,298 Total $ 7,085,677 $ 11,776 $ 5,263,150 $ 4,216,629 $ 16,577,232 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. Unearned Revenue Reserve The balances of and changes in URR as of and for the periods ended are as follows: Six Months Ended June 30, 2023 2022 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 Unearned revenue 405,732 393,675 Amortization expense (70,981) (63,472) Other adjustments (93) 66 Balance, end of period 3,401,994 2,729,057 Less: Reinsurance recoverables 1,621,229 1,450,592 Unearned revenue reserve net of reinsurance recoverables $ 1,780,765 $ 1,278,465 The following tables show a rollforward of MRB balances for variable annuity products, along with a reconciliation to the Company’s total net MRB positions as of the following dates: Six Months Ended June 30, 2023 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 4,550,625 $ (422,261) $ 4,128,364 Effect of cumulative changes in non-performance risk 1,727,910 0 1,727,910 Balance, beginning of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Attributed fees collected 587,663 (107,425) 480,238 Claims paid (43,782) 3,681 (40,101) Interest accrual 160,106 (20,505) 139,601 Actual in force different from expected 36,193 (6,069) 30,124 Effect of changes in interest rates (671,989) 169,229 (502,760) Effect of changes in equity markets (1,314,461) 127,157 (1,187,304) Effect of assumption update 330,769 (54,067) 276,702 Issuances 11,403 9,025 20,428 Other adjustments(1) (17,436) (638,198) (655,634) Effect of changes in current period counterparty non-performance risk 0 (7,445) (7,445) Balance, end of period, before effect of changes in non-performance risk 5,357,001 (946,878) 4,410,123 Effect of cumulative changes in non-performance risk (1,660,587) 0 (1,660,587) Balance, end of period $ 3,696,414 $ (946,878) $ 2,749,536 Six Months Ended June 30, 2022 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 8,884,362 $ (906,484) $ 7,977,878 Effect of cumulative changes in non-performance risk 287,605 0 287,605 Balance, beginning of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Attributed fees collected 659,743 (77,427) 582,316 Claims paid (16,431) 318 (16,113) Interest accrual 26,589 (2,564) 24,025 Actual in force different from expected 44,344 (4,746) 39,598 Effect of changes in interest rates (5,067,986) 527,662 (4,540,324) Effect of changes in equity markets 3,238,166 (339,149) 2,899,017 Effect of assumption update (160,596) 23,170 (137,426) Effect of changes in current period counterparty non-performance risk 0 223,753 223,753 Balance, end of period, before effect of changes in non-performance risk 7,895,796 (555,467) 7,340,329 Effect of cumulative changes in non-performance risk (2,077,191) 0 (2,077,191) Balance, end of period $ 5,818,605 $ (555,467) $ 5,263,138 (1) Other adjustments for June 30, 2023 primarily includes $638 million related to the reinsurance transaction with Ohio National. See Note 11 for additional information. In 2023, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to policyholder behavior assumptions on certain variable annuities. In 2022, the Company recognized a favorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to mortality and policyholder behavior assumptions on certain variable annuities. The Company issues certain variable annuity insurance contracts where the Company contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return, and/or (2) the highest anniversary contract value on a specified date adjusted for any withdrawals. These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issues indexed variable annuity contracts for which the return is tied to the return of specific indices where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals upon death. In certain of these indexed variable annuity contracts, the Company also contractually guarantees to the contractholder withdrawal benefits payable during specific periods. For guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility and contractholder behavior. The following table presents accompanying information to the rollforward table above. June 30, 2023 June 30, 2022 Variable Annuities ($ in thousands) Net amount at risk(1) $ 10,067,522 $ 10,510,747 Weighted-average attained age of contractholders 69 68 (1) For contracts with multiple benefit features, the highest net amount at risk for each contract is included. The table below reconciles MRB asset and liability positions as of the following dates: June 30, 2023 June 30, 2022 Variable Annuities (in thousands) Market risk benefit assets $ 2,340,230 $ 1,422,757 Market risk benefit liabilities 5,089,766 6,685,895 Net liability $ 2,749,536 $ 5,263,138

Market Risk Benefits

Market Risk Benefits	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Policyholders' Liabilities	LIABILITY FOR FUTURE POLICY BENEFITS Liability for Future Policy Benefits primarily consists of the following sub-components, which are discussed in greater detail below. • Benefit Reserves; • Deferred Profit Liability; and • Additional Insurance Reserves In 2023, the Company recognized an immaterial impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to unfavorable model refinements, partially offset by favorable updates to economic assumptions, including expected future rates of returns on investments on universal life policies with secondary guarantees. In 2022, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed benefit reserves, primarily due to updates to mortality assumptions on individual term life insurance. Additionally, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update and other refinements for direct and assumed additional insurance reserves, primarily due to updates to policyholder behavior assumptions on universal life policies with secondary guarantees. Benefit Reserves The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits. Six Months Ended June 30, 2023 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 10,911,794 $ 0 $ 10,911,794 Effect of cumulative changes in discount rate assumptions, beginning of period 554,896 0 554,896 Balance at original discount rate, beginning of period 11,466,690 0 11,466,690 Effect of assumption update (790) 0 (790) Effect of actual variances from expected experience and other activity (65,230) (1,257) (66,487) Adjusted balance, beginning of period 11,400,670 (1,257) 11,399,413 Issuances 318,867 23,211 342,078 Net premiums / considerations collected (674,147) (21,954) (696,101) Interest accrual 261,862 0 261,862 Balance at original discount rate, end of period 11,307,252 0 11,307,252 Effect of cumulative changes in discount rate assumptions, end of period (484,287) 0 (484,287) Balance, end of period $ 10,822,965 $ 0 $ 10,822,965 Six Months Ended June 30, 2023 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 17,835,251 $ 204,727 $ 18,039,978 Effect of cumulative changes in discount rate assumptions, beginning of period 962,034 24,876 986,910 Balance at original discount rate, beginning of period 18,797,285 229,603 19,026,888 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (87,110) 4,195 (82,915) Adjusted balance, beginning of period 18,709,131 233,798 18,942,929 Issuances 318,867 23,211 342,078 Interest accrual 447,387 4,201 451,588 Benefit payments (716,919) (14,838) (731,757) Other adjustments 1,558 (33) 1,525 Balance at original discount rate, end of period 18,760,024 246,339 19,006,363 Effect of cumulative changes in discount rate assumptions, end of period (791,413) (26,245) (817,658) Balance, end of period $ 17,968,611 $ 220,094 $ 18,188,705 Other, end of period 1,941 Total balance, end of period $ 18,190,646 Six Months Ended June 30, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,145,646 $ 220,094 $ 7,365,740 Less: Reinsurance recoverable 6,614,071 17,835 6,631,906 Balance after reinsurance recoverable, end of period, post-flooring $ 531,575 $ 202,259 $ 733,834 Six Months Ended June 30, 2022 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,485,056 $ 0 $ 12,485,056 Effect of cumulative changes in discount rate assumptions, beginning of period (1,826,120) 0 (1,826,120) Balance at original discount rate, beginning of period 10,658,936 0 10,658,936 Effect of assumption update 1,295,294 0 1,295,294 Effect of actual variances from expected experience and other activity (84,412) (78) (84,490) Adjusted balance, beginning of period 11,869,818 (78) 11,869,740 Issuances 187,092 17,356 204,448 Net premiums / considerations collected (657,195) (17,278) (674,473) Interest accrual 257,706 0 257,706 Balance at original discount rate, end of period 11,657,421 0 11,657,421 Effect of cumulative changes in discount rate assumptions, end of period 22,765 0 22,765 Balance, end of period $ 11,680,186 $ 0 $ 11,680,186 Six Months Ended June 30, 2022 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 20,937,097 $ 237,065 $ 21,174,162 Effect of cumulative changes in discount rate assumptions, beginning of period (3,607,275) (16,704) (3,623,979) Balance at original discount rate, beginning of period 17,329,822 220,361 17,550,183 Effect of assumption update 1,756,995 0 1,756,995 Effect of actual variances from expected experience and other activity (167,637) 351 (167,286) Adjusted balance, beginning of period 18,919,180 220,712 19,139,892 Issuances 187,092 17,357 204,449 Interest accrual 436,119 3,809 439,928 Benefit payments (738,715) (13,658) (752,373) Other adjustments 1,781 (285) 1,496 Balance at original discount rate, end of period 18,805,457 227,935 19,033,392 Effect of cumulative changes in discount rate assumptions, end of period 144,406 (16,737) 127,669 Balance, end of period $ 18,949,863 $ 211,198 $ 19,161,061 Other, end of period 2,235 Total balance, end of period $ 19,163,296 Six Months Ended June 30, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,269,677 $ 211,198 $ 7,480,875 Less: Reinsurance recoverable 6,847,216 16,488 6,863,704 Balance after reinsurance recoverable, end of period, post-flooring $ 422,461 $ 194,710 $ 617,171 The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the periods indicated: Six Months Ended June 30, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,948,491 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,125,847 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,493,623 $ 0 Undiscounted expected future benefits and expenses $ 29,156,389 $ 328,414 Interest accrual $ 185,524 $ 4,201 Gross premiums $ 900,634 $ 24,200 Weighted-average duration of the liability in years (at original discount rate) 10 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.20 % 3.57 % Weighted-average interest rate (at current discount rate) 5.28 % 5.27 % Six Months Ended June 30, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,348,506 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,414,984 $ 0 Discounted expected future gross premiums (at current discount rate) $ 15,442,782 $ 0 Undiscounted expected future benefits and expenses $ 29,470,523 $ 302,195 Interest accrual $ 178,413 $ 3,809 Gross premiums $ 925,202 $ 19,545 Weighted-average duration of the liability in years (at original discount rate) 11 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.28 % 3.44 % Weighted-average interest rate (at current discount rate) 4.63 % 4.54 % For additional information regarding observable market information and the techniques used to determine the interest rate assumptions seen above, see Note 2. For non-participating traditional and limited-payment products, if a cohort is in a loss position where the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for the present value of expected future policy benefits and non-level claim settlement expenses, then the liability for future policy benefits is adjusted at that time, and thereafter such that all changes, both favorable and unfavorable, in expected benefits resulting from both actual experience deviations and changes in future assumptions are recognized immediately as a gain or loss. In the first six months of 2023, there was a $30 million gain in net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, which was offset by a $30 million charge, reflecting the impact of ceded reinsurance on the affected cohorts. In the first six months of 2022, there was a $99 million charge to net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts, mostly offset by a $97 million gain, reflecting the impact of ceded reinsurance on the affected cohorts. The unfavorable impact in the first six months of 2022 is primarily due to unfavorable assumption updates related to individual term life products. Deferred Profit Liability The balances of and changes in Deferred Profit Liability as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 Effect of actual variances from expected experience and other activity (5,092) (607) Adjusted balance, beginning of period 13,101 15,158 Profits deferred 2,088 2,173 Interest accrual 294 276 Amortization (973) (950) Other adjustments (8) (25) Balance, end of period 14,502 16,632 Less: Reinsurance recoverable 1,558 1,722 Balance after reinsurance recoverable $ 12,944 $ 14,910 The following table provides supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated table above, on a gross (direct and assumed) basis, as of and for the period indicated: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Revenue(1) $ 3,691 $ (867) Interest accrual 294 276 (1) Represents the gross premiums collected in changes in deferred profit liability. Additional Insurance Reserves AIR represents the additional liability for annuitization, death, or other insurance benefits, including GMDB and GMIB contract features, that are above and beyond the contractholder's account balance. The following table shows a rollforward of AIR balances for variable and universal life products for the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 Flooring impact and amounts in AOCI 1,269,237 (896,930) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,682 10,763,597 Effect of assumption update 22,910 2,197,592 Effect of actual variances from expected experience and other activity 26,204 (157,782) Adjusted balance, beginning of period 13,982,796 12,803,407 Assessments collected(1) 513,593 446,443 Interest accrual 237,869 203,986 Benefits paid (151,097) (100,856) Balance, excluding amounts in AOCI, end of period, pre-flooring 14,583,161 13,352,980 Flooring impact and amounts in AOCI (1,094,298) (859,387) Balance, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Less: Reinsurance recoverable 13,268,534 12,282,253 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 220,329 $ 211,340 (1) Represents the portion of gross assessments required to fund the future policy benefits. Six Months Ended June 30, 2023 2022 ($ in thousands) Interest accrual $ 237,869 $ 203,986 Gross assessments $ 785,370 $ 627,513 Weighted-average duration of the liability in years (at original discount rate) 22 23 Weighted-average interest rate (at original discount rate) 3.39 % 3.72 % Future Policy Benefits Reconciliation The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Unaudited Interim Consolidated Statements of Financial Position as of the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Benefit reserves, end of period, post-flooring $ 7,365,740 $ 7,480,875 Deferred profit liability, end of period, post-flooring 14,502 16,632 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Subtotal of amounts disclosed above 20,869,105 19,991,100 Other Future policy benefits reserves(1) 1,108,889 1,035,166 Total Future policy benefits $ 21,977,994 $ 21,026,266 (1) Represents balances for which disaggregated rollforward disclosures are not required, including unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities. Revenue and Interest Expense The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations for the periods indicated: Six Months Ended June 30, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 900,634 $ 0 $ 24,200 $ 924,834 Deferred profit liability 0 0 3,691 3,691 Additional insurance reserves 0 785,370 0 785,370 Total $ 900,634 $ 785,370 $ 27,891 $ 1,713,895 Six Months Ended June 30, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 925,202 $ 0 $ 19,545 $ 944,747 Deferred profit liability 0 0 (867) (867) Additional insurance reserves 0 627,513 0 627,513 Total $ 925,202 $ 627,513 $ 18,678 $ 1,571,393 (1) Represents "Gross premiums" for benefit reserves; "Revenue" for deferred profit liability and "Gross assessments" for additional insurance reserves. Six Months Ended June 30, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 185,524 $ 0 $ 4,201 $ 189,725 Deferred profit liability 0 0 294 294 Additional insurance reserves 0 237,869 0 237,869 Total $ 185,524 $ 237,869 $ 4,495 $ 427,888 Six Months Ended June 30, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 178,413 $ 0 $ 3,809 $ 182,222 Deferred profit liability 0 0 276 276 Additional insurance reserves 0 203,986 0 203,986 Total $ 178,413 $ 203,986 $ 4,085 $ 386,484 Policyholders' Account Balances The balance of and changes in policyholders' account balances as of and for the periods ended are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 16,432,032 $ 18,736,365 $ 35,168,397 Deposits 2,225,558 1,030,843 3,256,401 Interest credited 131,119 278,886 410,005 Policy charges (10,684) (903,228) (913,912) Surrenders and withdrawals (233,470) (400,194) (633,664) Benefit payments (15,067) (42,131) (57,198) Net transfers (to) from separate account(1) 4,995 1,035,554 1,040,549 Change in market value and other adjustments(2) 954,563 139,608 1,094,171 Balance, end of period 19,489,046 19,875,703 39,364,749 Less: Reinsurance and other recoverables(3) 418,986 12,872,063 13,291,049 Policyholders' account balance net of reinsurance and other recoverables $ 19,070,060 $ 7,003,640 $ 26,073,700 Unearned revenue reserve 3,401,994 Other(4) 4,841,412 Total Policyholders' account balance $ 47,608,155 Weighted-average crediting rate 1.46 % 2.89 % 2.20 % Net amount at risk(5) $ 0 $ 313,218,977 $ 313,218,977 Cash surrender value(6) $ 17,391,104 $ 18,341,323 $ 35,732,427 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (4) Includes $4,740 million of fixed annuities account balances. (5) The net amount at risk calculation includes both general and separate account balances. (6) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. Six Months Ended June 30, 2022 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 11,465,411 $ 18,762,548 $ 30,227,959 Deposits 2,709,044 1,085,659 3,794,703 Interest credited 31,825 290,089 321,914 Policy charges (1,003) (896,223) (897,226) Surrenders and withdrawals (113,369) (433,915) (547,284) Benefit payments (20,563) (54,384) (74,947) Net transfers (to) from separate account 157,771 126,364 284,135 Change in market value and other adjustments(1) 517,047 (232,805) 284,242 Balance, end of period 14,746,163 18,647,333 33,393,496 Less: Reinsurance and other recoverables(2) 334,311 12,954,996 13,289,307 Policyholders' account balance net of reinsurance and other recoverables $ 14,411,852 $ 5,692,337 $ 20,104,189 Unearned revenue reserve 2,729,057 Other(3) 3,081,856 Total Policyholders' account balance $ 39,204,409 Weighted-average crediting rate 0.49 % 3.10 % 2.02 % Net amount at risk(4) $ 0 $ 295,739,871 $ 295,739,871 Cash surrender value(5) $ 11,912,977 $ 17,028,535 $ 28,941,512 (1) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (2) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (3) Includes $2,983 million of fixed annuities account balances. (4) The net amount at risk calculation includes both general and separate account balances. (5) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. The Company issues variable life and universal life insurance contracts which may also include a “no-lapse guarantee” where the Company contractually guarantees to the contractholder a death benefit even when the account value drops to zero, as long as the “no-lapse guarantee” premium is paid. The net amount at risk is generally defined as the current death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including contractholder mortality, contract lapses, and premium pattern, as well as interest rate and equity market returns. The Company also issues annuity contracts that provide certain death benefit and/or living benefit guarantees and are accounted for as MRBs. See Note 10 for additional information, including the net amount at risk associated with these guarantees. The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums are as follows: June 30, 2023 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 -50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 972,976 $ 833,696 $ 18,454 $ 2 $ 1,825,128 1.00% - 1.99% 229,049 2,126 1,094 0 232,269 2.00% - 2.99% 24,531 4,090 0 0 28,621 3.00% - 4.00% 990,408 2,859 0 0 993,267 Greater than 4.00% 2,091 0 0 0 2,091 Total $ 2,219,055 $ 842,771 $ 19,548 $ 2 $ 3,081,376 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 9,078 $ 9,078 1.00% - 1.99% 163,616 0 2,706,552 363,119 3,233,287 2.00% - 2.99% 21,001 1,399,691 2,765,577 267,001 4,453,270 3.00% - 4.00% 4,555,992 1,985,262 1,110,457 0 7,651,711 Greater than 4.00% 2,159,217 0 0 0 2,159,217 Total $ 6,899,826 $ 3,384,953 $ 6,582,586 $ 639,198 $ 17,506,563 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. June 30, 2022 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 - 50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 1,050,808 $ 877,536 $ 18,943 $ 2 $ 1,947,289 1.00% - 1.99% 251,989 1,682 0 0 253,671 2.00% - 2.99% 30,850 63 0 0 30,913 3.00% - 4.00% 1,127,302 0 0 0 1,127,302 Greater than 4.00% 2,146 0 0 0 2,146 Total $ 2,463,095 $ 879,281 $ 18,943 $ 2 $ 3,361,321 Variable Life / Universal Life Less than 1.00% $ 16,033 $ 0 $ 0 $ 0 $ 16,033 1.00% - 1.99% 340,859 0 694,771 1,978,385 3,014,015 2.00% - 2.99% 8,519 0 2,259,847 2,099,855 4,368,221 3.00% - 4.00% 4,625,968 11,776 2,308,532 138,389 7,084,665 Greater than 4.00% 2,094,298 0 0 0 2,094,298 Total $ 7,085,677 $ 11,776 $ 5,263,150 $ 4,216,629 $ 16,577,232 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. Unearned Revenue Reserve The balances of and changes in URR as of and for the periods ended are as follows: Six Months Ended June 30, 2023 2022 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 Unearned revenue 405,732 393,675 Amortization expense (70,981) (63,472) Other adjustments (93) 66 Balance, end of period 3,401,994 2,729,057 Less: Reinsurance recoverables 1,621,229 1,450,592 Unearned revenue reserve net of reinsurance recoverables $ 1,780,765 $ 1,278,465 The following tables show a rollforward of MRB balances for variable annuity products, along with a reconciliation to the Company’s total net MRB positions as of the following dates: Six Months Ended June 30, 2023 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 4,550,625 $ (422,261) $ 4,128,364 Effect of cumulative changes in non-performance risk 1,727,910 0 1,727,910 Balance, beginning of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Attributed fees collected 587,663 (107,425) 480,238 Claims paid (43,782) 3,681 (40,101) Interest accrual 160,106 (20,505) 139,601 Actual in force different from expected 36,193 (6,069) 30,124 Effect of changes in interest rates (671,989) 169,229 (502,760) Effect of changes in equity markets (1,314,461) 127,157 (1,187,304) Effect of assumption update 330,769 (54,067) 276,702 Issuances 11,403 9,025 20,428 Other adjustments(1) (17,436) (638,198) (655,634) Effect of changes in current period counterparty non-performance risk 0 (7,445) (7,445) Balance, end of period, before effect of changes in non-performance risk 5,357,001 (946,878) 4,410,123 Effect of cumulative changes in non-performance risk (1,660,587) 0 (1,660,587) Balance, end of period $ 3,696,414 $ (946,878) $ 2,749,536 Six Months Ended June 30, 2022 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 8,884,362 $ (906,484) $ 7,977,878 Effect of cumulative changes in non-performance risk 287,605 0 287,605 Balance, beginning of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Attributed fees collected 659,743 (77,427) 582,316 Claims paid (16,431) 318 (16,113) Interest accrual 26,589 (2,564) 24,025 Actual in force different from expected 44,344 (4,746) 39,598 Effect of changes in interest rates (5,067,986) 527,662 (4,540,324) Effect of changes in equity markets 3,238,166 (339,149) 2,899,017 Effect of assumption update (160,596) 23,170 (137,426) Effect of changes in current period counterparty non-performance risk 0 223,753 223,753 Balance, end of period, before effect of changes in non-performance risk 7,895,796 (555,467) 7,340,329 Effect of cumulative changes in non-performance risk (2,077,191) 0 (2,077,191) Balance, end of period $ 5,818,605 $ (555,467) $ 5,263,138 (1) Other adjustments for June 30, 2023 primarily includes $638 million related to the reinsurance transaction with Ohio National. See Note 11 for additional information. In 2023, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to policyholder behavior assumptions on certain variable annuities. In 2022, the Company recognized a favorable impact to net income attributable to the actuarial assumption update for direct and assumed market risk benefits, primarily due to updates to mortality and policyholder behavior assumptions on certain variable annuities. The Company issues certain variable annuity insurance contracts where the Company contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return, and/or (2) the highest anniversary contract value on a specified date adjusted for any withdrawals. These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods. The Company also issues indexed variable annuity contracts for which the return is tied to the return of specific indices where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals upon death. In certain of these indexed variable annuity contracts, the Company also contractually guarantees to the contractholder withdrawal benefits payable during specific periods. For guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, contract lapses and contractholder mortality. For guarantees of benefits that are payable at annuitization, the net amount at risk is generally defined as the present value of the minimum guaranteed annuity payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including fixed income and equity market returns, timing of annuitization, contract lapses and contractholder mortality. For guarantees of benefits that are payable at withdrawal, the net amount at risk is generally defined as the present value of the minimum guaranteed withdrawal payments available to the contractholder determined in accordance with the terms of the contract in excess of the current account balance. For guarantees of accumulation balances, the net amount at risk is generally defined as the guaranteed minimum accumulation balance minus the current account balance. The Company’s primary risk exposures for these contracts relates to actual deviations from, or changes to, the assumptions used in the original pricing of these products, including equity market returns, interest rates, market volatility and contractholder behavior. The following table presents accompanying information to the rollforward table above. June 30, 2023 June 30, 2022 Variable Annuities ($ in thousands) Net amount at risk(1) $ 10,067,522 $ 10,510,747 Weighted-average attained age of contractholders 69 68 (1) For contracts with multiple benefit features, the highest net amount at risk for each contract is included. The table below reconciles MRB asset and liability positions as of the following dates: June 30, 2023 June 30, 2022 Variable Annuities (in thousands) Market risk benefit assets $ 2,340,230 $ 1,422,757 Market risk benefit liabilities 5,089,766 6,685,895 Net liability $ 2,749,536 $ 5,263,138

Reinsurance

Reinsurance	6 Months Ended
	Jun. 30, 2023
Reinsurance Disclosures [Abstract]
Reinsurance	REINSURANCE The Company participates in reinsurance with its affiliates Prudential Arizona Reinsurance Captive Company (“PARCC”), Prudential Arizona Reinsurance Term Company (“PAR Term”), Prudential Arizona Reinsurance Universal Company (“PAR U”), Prudential Universal Reinsurance Company ("PURC"), Prudential Term Reinsurance Company (“Term Re”), Gibraltar Universal Life Reinsurance Company ("GUL Re"), Dryden Arizona Reinsurance Term Company (“DART”), Lotus Reinsurance Company Ltd. ("Lotus Re"), and PALAC, a former subsidiary of Prudential Financial that was sold to Fortitude on April 1, 2022, which is discussed in Note 1. The Company also participates in reinsurance with its parent company Prudential Insurance, as well as third parties. The reinsurance agreements provide risk diversification and additional capacity for future growth, limit the maximum net loss potential, manage statutory capital, and facilitate the Company's capital market hedging program. Life reinsurance is accomplished through various plans of reinsurance, primarily yearly renewable term and coinsurance. Reinsurance ceded arrangements do not discharge the Company as the primary insurer. Ceded balances would represent a liability of the Company in the event the reinsurers were unable to meet their obligations to the Company under the terms of the reinsurance agreements. The Company believes a material reinsurance liability resulting from such inability of reinsurers to meet their obligations is unlikely. Reserves related to reinsured long-duration contracts are accounted for using assumptions consistent with those used to account for the underlying contracts. Amounts recoverable from reinsurers for long-duration reinsurance arrangements are estimated in a manner consistent with the claim liabilities and policy benefits associated with the reinsured policies. Reinsurance policy charges and fee income ceded for universal life and variable annuity products are accounted for as a reduction of policy charges and fee income. Reinsurance premiums ceded for term insurance products are accounted for as a reduction of premiums. Reinsurance agreements that do not expose the Company to a reasonable possibility of a significant loss from insurance risk are recorded using the deposit method of accounting. The deposit assets on reinsurance are recorded within “Other assets” and the corresponding funds withheld liability for assets retained under these reinsurance agreements are recorded within “Other liabilities.” Balances associated with these agreements are included in the tables below. Change in value of market risk benefits, net of related hedging gain (loss) include the impact of reinsurance agreements, particularly reinsurance agreements involving living benefit guarantees. The Company has entered into reinsurance agreements to transfer the risk related to the living benefit guarantees on variable annuities within the PLNJ business to Prudential Insurance. These reinsurance agreements are market risk benefits and have been accounted for in the same manner. See Note 4 for additional information related to the accounting for market risk benefits. Reinsurance amounts included in the Company’s Unaudited Interim Consolidated Statements of Financial Position as of June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 December 31, 2022 (in thousands) Reinsurance recoverables(1) $ 37,667,480 $ 37,096,562 Policy loans (1,054,894) (1,011,112) Deferred policy acquisition costs(1) (3,270,979) (3,343,270) Deferred sales inducements(1) (36,745) (38,146) Market risk benefit assets(1) 1,174,612 543,177 Other assets(1) 1,648,435 1,146,794 Policyholders’ account balances(1) 6,245,990 7,157,639 Future policy benefits(1) 6,747,348 6,320,863 Market risk benefit liabilities(1) 230,773 120,916 Other liabilities(1) 3,793,074 2,891,433 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Unaffiliated reinsurance amounts included in the table above and in the Company's Unaudited Interim Consolidated Statements of Financial Position were as follows: June 30, 2023 December 31, 2022 (in thousands) Deferred policy acquisition costs(1) $ 84,646 $ 111,379 Market risk benefit assets(1) 752,567 64,738 Other assets 1,540,310 1,034,000 Policyholders’ account balances(1) 1,986,974 2,771,961 Future policy benefits 315 0 Market risk benefit liabilities(1) 118,963 40,731 Other liabilities 1,656,479 820,185 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. The deposit assets on reinsurance totaled $1,413 million and $828 million at June 30, 2023 and December 31, 2022, respectively. The funds withheld liabilities totaled $1,196 million and $705 million at June 30, 2023 and December 31, 2022, respectively. Reinsurance recoverables by counterparty are broken out below: June 30, 2023 December 31, 2022(1) (in thousands) PAR U $ 15,418,859 $ 15,051,337 PURC 7,228,567 6,928,950 PARCC 2,360,934 2,437,589 GUL Re 3,133,194 3,124,697 PAR Term 2,008,158 2,040,599 Prudential Insurance 1,121,635 986,013 Term Re 1,938,351 1,830,197 Lotus Re 2,007,253 1,952,215 DART 670,394 578,462 Unaffiliated 1,780,135 2,166,503 Total reinsurance recoverables $ 37,667,480 $ 37,096,562 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Reinsurance amounts, included in the Company’s Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Premiums: Direct(1) $ 476,472 $ 470,923 $ 938,539 $ 944,344 Assumed 34 (9,474) (122) (8,077) Ceded(1) (386,541) (407,125) (771,796) (812,438) Net premiums(1) 89,965 54,324 166,621 123,829 Policy charges and fee income: Direct(1) 749,037 757,637 1,484,975 1,548,536 Assumed(1) 148,479 158,744 301,079 305,550 Ceded(1) (533,980) (517,626) (1,036,027) (1,366,151) Net policy charges and fee income(1) 363,536 398,755 750,027 487,935 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net investment income: Direct 402,761 195,480 753,084 390,991 Assumed 343 365 686 818 Ceded (10,029) (3,717) (11,245) (20,381) Net investment income 393,075 192,128 742,525 371,428 Asset administration fees: Direct 80,952 88,655 161,308 186,112 Assumed 0 0 0 0 Ceded (24,164) (16,865) (40,318) (35,090) Net asset administration fees 56,788 71,790 120,990 151,022 Other income (loss): Direct 79,657 (325,563) 305,391 (674,251) Assumed (56) (2,548) (349) (2,509) Ceded(1) 25,857 21,472 45,263 43,038 Net Other income (loss)(1) 105,458 (306,639) 350,305 (633,722) Realized investment gains (losses), net: Direct(1) (88,715) 614,376 (334,638) 1,125,198 Assumed(1) 82,278 (281,646) 220,944 (485,630) Ceded(1) 14,131 27,489 709 73,932 Realized investment gains (losses), net(1) 7,694 360,219 (112,985) 713,500 Change in value of market risk benefits, net of related hedging gain (loss): Direct(1) 174,084 (556,282) 207,204 (727,637) Assumed(1) 2,774 0 (3,443) 0 Ceded(1) (215,745) (161,187) (222,446) (427,700) Net change in value of market risk benefits, net of related hedging gain (loss)(1) (38,887) (717,469) (18,685) (1,155,337) Policyholders’ benefits (including change in reserves): Direct(1) 848,495 726,165 1,727,280 1,580,324 Assumed(1) 332,048 326,171 649,335 579,208 Ceded(1) (1,033,582) (957,887) (2,124,472) (1,879,674) Net policyholders’ benefits (including change in reserves)(1) 146,961 94,449 252,143 279,858 Change in estimates of liability for future policy benefits: Direct(1) 31,146 1,828,707 (17,355) 1,818,725 Assumed(1) 23,844 707,485 25,651 689,394 Ceded(1) (56,123) (2,487,545) (13,831) (2,462,319) Net change in estimates of liability for future policy benefits(1) (1,133) 48,647 (5,535) 45,800 Interest credited to policyholders’ account balances: Direct(1) 215,973 188,115 438,548 333,985 Assumed 27,957 29,601 66,463 102,103 Ceded(1) (100,114) (108,798) (200,973) (215,151) Net interest credited to policyholders’ account balances(1) 143,816 108,918 304,038 220,937 Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(1) (105,195) (101,295) (223,025) (218,652) (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Unaffiliated reinsurance assumed and ceded amounts included in the table above and in the Company's Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022(1) 2023 2022(1) (in thousands) Premiums: Assumed(2) $ 34 $ (13,448) $ (132) $ (13,408) Ceded(2) (16,802) (11,048) (33,377) (22,570) Policy charges and fee income: Assumed 383 11,421 923 11,421 Ceded (38,338) (19,959) (62,276) (38,257) Net investment income: Ceded 1,993 8,650 12,913 4,317 Asset administration fees: Ceded (7,740) 0 (7,740) 0 Other income (loss): Assumed 55 (2,549) (238) (2,510) Ceded 8,031 0 9,653 0 Realized investment gains (losses), net: Assumed 82,278 (281,645) 220,944 (281,645) Ceded(2) 13,952 26,826 (629) 72,776 Change in value of market risk benefits, net of related hedging gain (loss): Assumed(2) 2,774 0 (3,443) 0 Ceded(2) (75,325) (35,629) (80,098) (86,502) Policyholders’ benefits (including change in reserves): Assumed 189 1,245 280 1,354 Ceded(2) (36,118) (24,551) (63,820) (43,042) Change in estimates of liability for future policy benefits: Ceded (416) (6,594) (416) (6,594) Interest credited to policyholders’ account balances: Assumed (2,370) (2,781) 5,099 (2,781) Ceded (85) 0 (85) 0 (1) Prior period has been reclassified to conform to the current period presentation (2) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. The gross and net amounts of life insurance face amount in force as of June 30, 2023 and 2022 were as follows: 2023 2022 (in thousands) Direct gross life insurance face amount in force $ 1,107,571,392 $ 1,086,899,612 Assumed gross life insurance face amount in force 36,059,164 37,151,725 Reinsurance ceded (1,015,213,859) (1,012,351,998) Net life insurance face amount in force $ 128,416,697 $ 111,699,339 Significant Affiliated Reinsurance Agreements PAR U Pruco Life reinsures an amount equal to 70% of all the risks associated with Universal Protector policies having no-lapse guarantees as well as certain of its universal policies, with effective dates prior to January 1, 2011. Effective July 1, 2012, PLNJ reinsures an amount equal to 95% of all the risks associated with Universal Protector policies having no-lapse guarantees as well as certain of its universal policies, with effective dates through December 31, 2019, excluding those policies that are subject to principle-based reserving. On January 2, 2013, Pruco Life began to assume Guaranteed Universal Life ("GUL") business from Prudential Insurance in connection with the acquisition of The Hartford Life Business. The GUL business assumed from Prudential Insurance was subsequently retroceded to PAR U. PALAC Effective April 1, 2016, the Company entered into a reinsurance agreement to reinsure its variable annuity base contracts, along with the living benefit guarantees to PALAC, excluding the PLNJ business, which was reinsured to Prudential Insurance. This reinsurance agreement excluded business reinsured externally. As of December 31, 2020, the Company discontinued the sales of traditional variable annuities with guaranteed living benefit riders. This discontinuation had no impact on the reinsurance agreement between PALAC, Prudential Insurance, and the Company. Effective July 1, 2021, the Company recaptured the risks related to its business, as discussed above, that had previously been reinsured to PALAC from April 1, 2016 through June 30, 2021. The recapture did not impact PLNJ, which continued to reinsure its business to Prudential Insurance. The product risks related to the previously reinsured business that were being managed in PALAC, were transferred to the Company. In addition, the living benefit hedging program related to the previously reinsured living benefit riders were being managed within the Company. On April 1, 2022, PALAC was sold to Fortitude as discussed in Note 1 and is no longer considered an affiliate of the Company. PURC Pruco Life reinsures an amount equal to 70% of all the risks associated with its Universal Protector policies having no-lapse guarantees as well as certain of its universal policies, with effective dates from January 1, 2011 through December 31, 2013, with PURC and 95% of all the risks associated with Universal Protector policies having no-lapse guarantees, as well as certain of its universal policies, with effective dates from January 1, 2014 through December 31, 2016. PARCC Prior to July 1, 2019, the Company reinsured 90% of the risks under its term life insurance policies, with effective dates prior to January 1, 2010 through an automatic coinsurance agreement with PARCC. Effective July 1, 2019, the Company amended the coinsurance agreement to increase the percentage from 90% to 100% of the policy risk amount reinsured. The amended agreement does not impact contracts issued by PLNJ, which remain at the original percentage. GUL Re Effective January 1, 2017, Pruco Life entered into an automatic coinsurance agreement with GUL Re to reinsure an amount equal to 95% of all the risks associated with Universal Protector policies having no-lapse guarantees, as well as certain of its universal policies, with effective dates on or after January 1, 2017 through December 31, 2019, excluding those policies that are subject to principle-based reserving. Effective July 1, 2017, Pruco Life amended this agreement to include 30% of Universal Protector policies having no-lapse guarantees as well as certain of its universal policies with effective dates prior to January 1, 2014. PAR Term Prior to July 1, 2019, the Company reinsures 95% of the risks under its term life insurance policies with effective dates January 1, 2010 through December 31, 2013, through an automatic coinsurance agreement with PAR Term. Effective July 1, 2019, the Company amended the coinsurance agreement to increase the percentage from 95% to 100% of the policy risk amount reinsured. The amended agreement does not impact contracts issued by PLNJ, which remain at the original percentage. Term Re The Company reinsures 95% of the risks under its term life insurance policies, with effective dates on or after January 1, 2014 through December 31, 2017, through an automatic coinsurance agreement with Term Re. Prudential Insurance The Company has a yearly-renewable term ("YRT") reinsurance agreement with Prudential Insurance and reinsures the majority of all mortality risks not otherwise reinsured. This agreement was terminated for new business effective January 1, 2020, with certain new business (primarily Universal Life policies) terminated as early as 2017. The Company now reinsures a portion of the mortality risk directly to third-party reinsurers and retains all of the non-reinsured portion of the mortality risk. Effective July 1, 2019, certain term life insurance policies were recaptured and subsequently reinsured to PARCC and PAR Term as noted above. As of January 1, 2022, most of the variable life insurance policies were recaptured resulting in a $305 million loss recorded through "Policy charges and fee income." Those policies were then reinsured to Lotus Re as mentioned below. On January 2, 2013, Pruco Life began to assume GUL business from Prudential Insurance in connection with the acquisition of the Hartford Financial Services Group, Inc. ("Hartford Financial"). The GUL business assumed from Prudential Insurance was subsequently retroceded to PAR U. In May 2018, Hartford Financial sold a group of operating subsidiaries, which includes two of Prudential Insurance's counterparties to these reinsurance arrangements. There was no impact to the terms, rights or obligations of Prudential Insurance, or operation of these reinsurance arrangements, as a result of this change in control of such counterparties. Similarly, there was no impact to the Company's reinsurance arrangements with respect to such GUL business as a result of this change in control. In January 2021, there was a definitive agreement announced to subsequently sell the two counterparties mentioned above, which were then acquired by Sixth Street in July 2021. There was no impact to the terms, rights or obligations of the Company, or operation of these reinsurance arrangements, as a result of this change in control of such counterparties. The Company has reinsured a group annuity contract with Prudential Insurance, in consideration for a single premium payment by the Company, providing reinsurance equal to 100% of all payments due under the contract. Effective April 1, 2016, PLNJ entered into a reinsurance agreement to reinsure its variable annuity base contracts, along with the living benefit guarantees to Prudential Insurance. This reinsurance agreement covers new and in force business. Effective February 1, 2023, PLNJ began selling indexed variable annuities products, which is reinsured to Prudential Insurance through the existing reinsurance agreement. The reinsurance of the indexed variable annuities transfers all significant risks, including mortality risk, embedded in the reinsured contracts to Prudential Insurance. As a result of the agreement, reinsurance payables includes the ceded modified coinsurance arrangement, which reflects the value of the invested assets retained by the Company and the associated asset returns. Lotus Re Effective October 1, 2021, the Company entered into an automatic coinsurance agreement with Lotus Re to reinsure $32 million of liabilities associated with the risks associated with a portion of its Variable Life policies in the extended term policy status. Effective January 1, 2022 the Company recaptured the risks that were previously ceded to Lotus Re from October 1, 2021 through December 31, 2021. Immediately thereafter, the Company entered into a reinsurance agreement with Lotus Re to cede 100% of the risks associated with a closed block of Variable Life business on a coinsurance and modified coinsurance basis including policies in the extended term policy status. The amount of the net liabilities associated with the transaction for coinsurance and modified coinsurance were $1,387 million and $14,037 million, respectively. As part of the consideration, the Company also ceded to Lotus Re $855 million of policy loan assets associated with the reinsured policies while receiving $820 million in cash from Lotus Re. As a result, the Company recorded a $1,352 million deferred gain, which will be recognized over the remaining life of the underlying policies. In tandem with the transaction, effective January 1, 2022, Lotus Re established an automatic YRT agreement with the Company to cede back a portion of the mortality risks associated with the reinsured policies for the purposes of the Company maintaining YRT reinsurance with external counterparties. DART Effective January 1, 2018, the Company entered into an automatic coinsurance agreement with DART to reinsure an amount equal to 95% of the risks associated with its term life insurance policies with effective dates on or after January 1, 2018 through December 31, 2019, excluding those policies that are subject to principle-based reserving. Significant Third-Party Reinsurance Arrangements The Ohio National Life Insurance Company Effective April 1, 2023, the Company entered into an agreement with Ohio National, an affiliate of Constellation Insurance Holdings, Inc., to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. This block represents approximately 10% of the Company’s remaining legacy in force traditional variable annuity block by account value. The Company ceded 100% of separate account liabilities under modified coinsurance and 100% of general account liabilities under coinsurance of its PDI traditional variable annuity contracts. The general account liabilities associated with PDI's guaranteed living and death benefits and the corresponding reinsurance of those liabilities are accounted for as market risk benefits. As a result of the transaction, the Company recognized a $277 million deferred reinsurance gain that will be amortized into income over the estimated remaining life of the reinsured policies. FLIAC Effective December 1, 2021, the Company entered into a reinsurance agreement with FLIAC under which the Company assumed all of its indexed variable annuities. The reinsurance of the indexed variable annuities transfers all significant risks, including mortality risk, embedded in the reinsured contracts to the Company. As a result of the agreement, Reinsurance recoverables includes the assumed modified coinsurance arrangement, which reflects the value of the invested assets retained by FLIAC and the associated asset returns. The Company also assumed all of FLIAC’s fixed indexed annuities and fixed annuities with a guaranteed lifetime withdrawal income feature which are accounted for under deposit accounting. The reinsurance agreement offers the policyholders the opportunity to novate their contracts from FLIAC to the Company and any such novated contracts shall cease to be reinsured under this agreement. As of June 30, 2023, the total account value of contracts novated from FLIAC to the Company were $5.2 billion for indexed variable annuities contracts and $2.0 billion for fixed annuities and fixed indexed annuities contracts, which is approximately 78% of the total reinsured block. Union Hamilton Between April 1, 2015 and December 31, 2016, the Company, excluding its subsidiary, reinsured approximately 50% of the new business related to “highest daily” living benefits rider guarantees on HDI v.3.0 product, available with Prudential Premier® Retirement Variable Annuity, to Union Hamilton Reinsurance Ltd. ("Union Hamilton"). This reinsurance remains in force for the duration of the underlying annuity contracts. New sales of HDI v.3.0 subsequent to December 31, 2016 are not covered by this external reinsurance agreement. As of June 30, 2023, $2.5 billion of HDI v.3.0 account values are reinsured to Union Hamilton.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company uses a full year projected effective tax rate approach to calculate year-to-date taxes. In determining the full year projected tax rate, the Company considers the realizability of deferred tax assets, including those associated with unrealized investment losses, and has determined based upon the weight of available evidence that no valuation allowance is necessary related to unrealized investment losses. In addition, certain items impacting total income tax expense are recorded in the periods in which they occur. The projected effective tax rate is the ratio of projected “Income tax expense (benefit)” divided by projected “Income (loss) from operations before income taxes and equity in earnings of operating joint venture.” Taxes attributable to operating joint ventures are recorded within “Equity in earnings of operating joint ventures, net of taxes.” The interim period tax expense (or benefit) is the difference between the year-to-date income tax provision and the amounts reported for the previous interim periods of the fiscal year. The Company's income tax provision, on a consolidated basis, amounted to an income tax expense of $96.6 million, or 16.25% of income (loss) from operations before income taxes and equity in earnings of operating joint venture, in the first six months of 2023, compared to an income tax benefit of $(342.6) million, or 26.42%, in the first six months of 2022. The Company's current and prior effective tax rates differed from the U.S. statutory tax rate of 21% primarily due to non-taxable investment income and tax credits. Inflation Reduction Act. On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (the “Inflation Reduction Act”). One of the most significant provisions of the Inflation Reduction Act is a 15% alternative minimum tax based on the Company’s GAAP income, with certain adjustments. This provision which is applicable only to companies with average applicable financial statement income over $1 billion for any three-year period ending in 2022 or later, is effective in taxable years beginning after December 31, 2022. The impact of the book-income alternative minimum tax, if any, will vary from year to year based on the relationship of the Company’s GAAP income to the Company’s taxable income. Any tax paid pursuant to this provision is available as a tax credit in future years when the Company’s tax rate exceeds the 15% minimum tax threshold.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	EQUITY Accumulated Other Comprehensive Income (Loss) AOCI represents the cumulative OCI items that are reported separate from net income and detailed on the Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss). The balance of and changes in each component of AOCI as of and for the six months ended June 30, 2023 and 2022, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Interest Rate Remeasurement of Future Policy Benefits Gain (loss) from Changes in Non-Performance Risk on Market Risk Benefits Total Accumulated (in thousands) Balance, December 31, 2022 $ (20,007) $ (1,474,475) $ 119,368 $ 1,365,049 $ (10,065) Change in OCI before reclassifications 3,266 116,395 (17,588) (67,323) 34,750 Amounts reclassified from AOCI 0 2,479 0 0 2,479 Income tax benefit (expense) (363) (24,884) 3,693 14,138 (7,416) Balance, June 30, 2023 $ (17,104) $ (1,380,485) $ 105,473 $ 1,311,864 $ 19,748 Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Interest Rate Remeasurement of Future Policy Benefits Gain (loss) from Changes in Non-Performance Risk on Market Risk Benefits Total Accumulated (in thousands) Balance, December 31, 2021 $ (11,274) $ 306,331 $ (125,809) $ 227,206 $ 396,454 Change in OCI before reclassifications (7,870) (1,824,967) 249,694 1,789,586 206,443 Amounts reclassified from AOCI 0 7,026 0 0 7,026 Income tax benefit (expense) 735 381,696 (52,436) (375,813) (45,818) Balance, June 30, 2022 $ (18,409) $ (1,129,914) $ 71,449 $ 1,640,979 $ 564,105 (1) Includes cash flow hedges of $100 million and $40 million as of June 30, 2023 and December 31, 2022, respectively, and $144 million and $40 million as of June 30, 2022 and December 31, 2021, respectively . Reclassifications out of Accumulated Other Comprehensive Income (Loss) Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Amounts reclassified from AOCI(1)(2): Net unrealized investment gains (losses): Cash flow hedges - Currency/Interest rate(3) $ 1,974 $ 42,622 $ 5,744 $ 56,412 Net unrealized investment gains (losses) on available-for-sale securities (2) (26,717) (8,223) (63,438) Total net unrealized investment gains (losses)(4) 1,972 15,905 (2,479) (7,026) Total reclassifications for the period $ 1,972 $ 15,905 $ (2,479) $ (7,026) (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 4 for additional information on cash flow hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on DAC and other costs, future policy benefits, policyholders’ account balances and other liabilities. Net Unrealized Investment Gains (Losses) Net unrealized investment gains (losses) on available-for-sale fixed maturity securities and certain other invested assets and other assets are included in the Company’s Unaudited Interim Consolidated Statements of Financial Position as a component of AOCI. Changes in these amounts include reclassification adjustments to exclude from OCI those items that are included as part of “Net income (loss)” for a period that had been part of OCI in earlier periods. The amounts for the periods indicated below, split between amounts related to net unrealized investment gains (losses) on available-for-sale fixed maturity securities on which an allowance for credit losses has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Gains (Losses) on Investments on Available-for-Sale Fixed Maturity Securities on Which an Allowance for Credit Losses has been Recognized Net Unrealized Other Costs(2) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(3) Income Tax Accumulated (in thousands) Balance, December 31, 2022 $ 4,371 $ (2,161,026) $ (1,198,422) $ 1,488,679 $ 391,923 $ (1,474,475) Net investment gains (losses) on investments arising during the period (2,751) 132,059 0 0 (27,076) 102,232 Reclassification adjustment for (gains) losses included in net income (201) 2,680 0 0 (519) 1,960 Reclassification due to allowance for credit losses recorded during the period 2,362 (2,362) 0 0 0 0 Impact of net unrealized investment (gains) losses 0 0 155,245 (168,158) 2,711 (10,202) Balance, June 30, 2023 $ 3,781 $ (2,028,649) $ (1,043,177) $ 1,320,521 $ 367,039 $ (1,380,485) (1) Includes cash flow hedges. See Note 4 for information on cash flow hedges. (2) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS The Company has extensive transactions and relationships with Prudential Insurance and other affiliates. Although we seek to ensure that these transactions and relationships are fair and reasonable, it is possible that the terms of these transactions are not the same as those that would result from transactions among unrelated parties. Expense Charges and Allocations The majority of the Company’s expenses are allocations or charges from Prudential Insurance or other affiliates. These expenses can be grouped into general and administrative expenses and agency distribution expenses. The Company’s general and administrative expenses are charged to the Company using allocation methodologies based on business production processes. Management believes that the methodology is reasonable and reflects costs incurred by Prudential Insurance to process transactions on behalf of the Company. The Company operates under service and lease agreements whereby services of officers and employees, supplies, use of equipment and office space are provided by Prudential Insurance. The Company reviews its allocation methodology periodically which it may adjust accordingly. General and administrative expenses include allocations of stock compensation expenses related to a stock-based awards program and a deferred compensation program issued by Prudential Financial. The expense charged to the Company for the stock-based awards program was $0.4 million for both the three months ended June 30, 2023 and 2022, and $0.5 million for both the six months ended June 30, 2023 and 2022. The expense charged to the Company for the deferred compensation program was $0.7 million and $0.5 million for the three months ended June 30, 2023 and 2022, respectively, and $3.4 million and $3.2 million for the six months ended June 30, 2023 and 2022, respectively. The Company is charged for its share of employee benefit expenses. These expenses include costs for funded and non-funded, non-contributory defined benefit pension plans. Some of these benefits are based on final earnings and length of service while others are based on an account balance, which takes into consideration age, service and earnings during a career. The Company’s share of net expense for the pension plans was $4 million and $5 million for the three months ended June 30, 2023 and 2022, respectively, and $7 million and $10 million for the six months ended June 30, 2023 and 2022, respectively. The Company is also charged for its share of the costs associated with welfare plans issued by Prudential Insurance. These expenses include costs related to medical, dental, life insurance and disability. The Company's share of net expense for the welfare plans was $3 million for both the three months ended June 30, 2023 and 2022, and $7 million for both the six months ended June 30, 2023 and 2022. Prudential Insurance sponsors voluntary savings plans for its employee 401(k) plans. The plans provide for salary reduction contributions by employees and matching contributions by the Company of up to 4% of annual salary. The Company’s expense for its share of t he voluntary savings plan was $2 million for both the three months ended June 30, 2023 and 2022 and $4 million for both the six months ended June 30, 2023 and 2022. The Company is charged distribution expenses from Prudential’s proprietary nationwide sales organization, “Prudential Advisors” through a transfer pricing agreement, which is intended to reflect a market-based pricing arrangement. Prudential Advisors distributes Prudential life insurance, annuities, and investment products with proprietary and non-proprietary product options. The Company pays commissions and certain other fees to Prudential Annuities Distributors, Inc. (“PAD”) in consideration for PAD’s marketing and underwriting of the Company’s annuity products. Commissions and fees are paid by PAD to broker-dealers who sell the Company’s annuity products. Commissions and fees paid by the Company to PAD were $147 million and $162 million for the three months ended June 30, 2023 and 2022, respectively, and $287 million and $332 million for the six months ended June 30, 2023 and 2022, respectively. The Company is charged for its share of corporate expenses incurred by Prudential Financial to benefit its businesses, such as advertising, executive oversight, external affairs and philanthropic activity. The Company’s share of corporate expenses was $34 million and $21 million for the three months ended June 30, 2023 and 2022, respectively, and $73 million and $34 million for the six months ended June 30, 2023 and 2022, respectively. Corporate-Owned Life Insurance The Company has sold five Corporate-Owned Life Insurance (“COLI”) policies to Prudential Insurance, and one to Prudential Financial. The cash surrender value included in separate accounts for these COLI policies was $3,901 million at June 30, 2023 and $4,512 million at December 31, 2022. Fees related to these COLI policies were $12 million and $13 million for the three months ended June 30, 2023 and 2022, respectively, and $25 million and $27 million for the six months ended June 30, 2023 and 2022, respectively. The Company reinsures the risk associated with these COLI policies to an affiliate reinsurer as part of a broader program related to variable insurance policies. In May 2023, the Company funded a policy loan from the Prudential Financial COLI policy noted above in an amount of $900 million to an affiliated irrevocable trust, commonly referred to as a “rabbi trust”, which Prudential Financial created to support certain non-qualified retirement plans. The outstanding balance of the policy loan with the rabbi trust was $898 million as of June 30, 2023. Interest income related to the policy loan was $5 million for both the three and six months ended June 30, 2023 . Affiliated Investment Management Expenses In accordance with an agreement with PGIM, Inc. ("PGIM"), the Company pays investment management expenses to PGIM who acts as investment manager to certain Company general account and separate account assets. Investment management expenses paid to PGIM related to this agreement were $13 million and $10 million for the three months ended June 30, 2023 and 2022, respectively, and $25 million and $18 million for the six months ended June 30, 2023 and 2022, respectively. These expenses are recorded as “Net investment income” in the Company's Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss). Derivative Trades In its ordinary course of business, the Company enters into OTC derivative contracts with an affiliate, PGF. For these OTC derivative contracts, PGF has a substantially equal and offsetting position with an external counterparty. See Note 4 for additional information. The interest income to the Company from PGF related to affiliated cash collateral was $120 million for the three months ended June 30, 2023, and $230 million for the six months ended June 30, 2023. Joint Ventures The Company has made investments in joint ventures with certain subsidiaries of Prudential Financial. "Other invested assets" includes $665 million and $606 million of investments in joint ventures as of June 30, 2023 and December 31, 2022, r espectively. "Net investment income" related to these ventures includes gains(losses) of $(6) million and $6 million for the three months ended June 30, 2023 and 2022, respectively, and $(4) million and $19 million for the six months ended June 30, 2023 and 2022, respectively. Affiliated Asset Administration Fee Income The Company has a revenue sharing agreement with AST Investment Services, Inc. ("ASTISI") and PGIM Investments LLC ("PGIM Investments") whereby the Company receives fee income based on policyholders' separate account balances invested in the Advanced Series Trust. Income received from ASTISI and PGIM Investments related to this agreement was $70 million and $78 million f or the three months ended June 30, 2023 and 2022, respectively, and $139 million and $163 million for the six months ended June 30, 2023 and 2022, respectively. These revenues are recorded as “Asset administration fees” in the Company's Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss). The Company has a revenue sharing agreement with PGIM Investments, whereby the Company receives fee income based on p olicyholders' separate account balances invested in The Prudential Series Fund. Income received from PGIM Investments related to this agreement was $9 million for both the three months ended June 30, 2023 and 2022, and $18 million and $19 million for the six months ended June 30, 2023 and 2022, respectively. These revenues are recorded as “Asset administration fees” in the Company's Unaudited Interim Consolidated Statements of Operations and Com prehensive Income (Loss). Affiliated Notes Receivable Affiliated notes receivable included in “Receivables from parent and affiliates” at June 30, 2023 and December 31, 2022 were as follows: Maturity Dates Interest Rates June 30, 2023 December 31, 2022 (in thousands) U.S. dollar fixed rate notes 2025 - 2027 0.00% - 14.85 % $ 145,661 $ 148,076 Total notes receivable - affiliated(1) $ 145,661 $ 148,076 (1) All notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances. The affiliated notes receivable shown above are classified as available-for-sale securities and other trading assets carried at fair value. The Company monitors the internal and external credit ratings of these loans and loan performance. The Company also considers any guarantees made by Prudential Insurance for loans due from affiliates. Ac crued interest receivable related to these loans was $0.9 million and $1.0 million at June 30, 2023 and December 31, 2022, respectively, and is included in “Other assets”. Revenues related to these loans were $1 million for both the three months ended June 30, 2023 and 2022, and $2 million for both the six months ended June 30, 2023 and 2022, and are included in “Other income (loss)”. Affiliated Commercial Mortgage Loan The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at June 30, 2023 and December 31, 2022 were as follows: Maturity Date Interest Rate June 30, 2023 December 31, 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.66 % $ 71,632 $ 72,225 The commercial mortgage loan shown above is carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses, and net of an allowance for losses. The Company reviews the performance and credit quality of the commercial mortgage loan on an on-going basis. Accrued interest receivable related to the loan was $0.5 million for both June 30, 2023 and December 31, 2022, and is included in "Accrued investment income". Revenues were $1 million for both the three months ended June 30, 2023 and 2022, and $3 million and $1 million for the six months ended June 30, 2023 and 2022, respectively, and are included in "Net investment income". Affiliated Asset Transfers The Company participates in affiliated asset trades with parent and sister companies. Book and market value differences for trades with a parent and sister are recognized within "Additional paid-in capital" (“APIC”) and "Realized investment gains (losses), net", respectively. The table below shows affiliated asset trades for the six months ended June 30, 2023 and for the year ended December 31, 2022. Affiliate Date Transaction Security Type Fair Value Book Value APIC, Net of Tax Increase/(Decrease) Realized (in thousands) PALAC January 2022 Purchase Fixed Maturities $ 4,432 $ 4,432 $ 0 $ 0 PALAC January 2022 Purchase Derivatives $ 404 $ 404 $ 0 $ 0 PALAC February 2022 Purchase Fixed Maturities $ 128,909 $ 128,909 $ 0 $ 0 PAR U April 2022 Purchase Fixed Maturities $ 48,970 $ 48,970 $ 0 $ 0 Prudential Insurance May 2022 Purchase Fixed Maturities $ 233,426 $ 241,128 $ 6,085 $ 0 Prudential Insurance June 2022 Purchase Fixed Maturities $ 88,754 $ 81,216 $ (5,955) $ 0 Prudential Insurance June 2022 Transfer In Fixed Maturities $ 52,089 $ 45,031 $ (5,577) $ 0 Prudential Insurance June 2022 Transfer Out Fixed Maturities $ 48,786 $ 58,984 $ (8,057) $ 0 PAR U June 2022 Purchase Commercial Mortgage and Other Loans $ 6,492 $ 6,492 $ 0 $ 0 PAR U June 2022 Sale Commercial Mortgage and Other Loans $ 14,853 $ 15,725 $ 0 $ (872) GUL Re June 2022 Purchase Commercial Mortgage and Other Loans $ 13,551 $ 13,551 $ 0 $ 0 GUL Re June 2022 Sale Commercial Mortgage and Other Loans $ 8,692 $ 9,033 $ 0 $ (341) PURC June 2022 Purchase Commercial Mortgage and Other Loans $ 4,403 $ 4,403 $ 0 $ 0 Prudential Insurance July 2022 Transfer In Fixed Maturities $ 6,319 $ 7,230 $ 719 $ 0 PAR U July 2022 Purchase Fixed Maturities $ 16,284 $ 16,284 $ 0 $ 0 Prudential Insurance August 2022 Purchase Fixed Maturities $ 155,823 $ 139,712 $ (12,728) $ 0 Vantage Casualty Insurance Co September 2022 Purchase Fixed Maturities $ 3,497 $ 3,497 $ 0 $ 0 WH Warehouse Ltd October 2022 Sale Fixed Maturities $ 26,536 $ 26,388 $ 0 $ 148 PAR U November 2022 Purchase Fixed Maturities $ 91,051 $ 91,051 $ 0 $ 0 Prudential Insurance December 2022 Purchase Fixed Maturities $ 67,477 $ 71,369 $ 3,075 $ 0 Prudential Insurance January 2023 Purchase Fixed Maturities $ 48,329 $ 50,372 $ 1,614 $ 0 Prudential Insurance March 2023 Purchase Fixed Maturities $ 7,175 $ 7,500 $ 256 $ 0 PURC April 2023 Purchase Fixed Maturities $ 102,804 $ 102,804 $ 0 $ 0 Term Re June 2023 Purchase Fixed Maturities $ 115,573 $ 115,573 $ 0 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 4,298 $ 4,443 $ 114 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 4,394 $ 4,494 $ 80 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 19,453 $ 19,203 $ (198) $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 14,452 $ 15,086 $ 502 $ 0 Debt Agreements The Company is authorized to borrow funds up to $7 billion from affiliates to meet its capital and other funding needs. The following table provides the breakout of the Company's short-term and long-term debt to affiliates as of June 30, 2023 and December 31, 2022: Affiliate Date Amount of Notes - June 30, 2023 Amount of Notes - December 31, 2022 Interest Rate Date of Maturity (in thousands) Prudential Insurance 8/13/2021 $ 95,103 $ 96,666 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 28,531 29,000 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 96,313 97,665 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 38,525 39,066 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 48,156 48,832 3.95 % 6/20/2024 Prudential Funding LLC 12/28/2022 0 138 4.73 % 1/31/2023 Prudential Funding LLC 12/29/2022 0 62 4.73 % 1/31/2023 Prudential Funding LLC 12/30/2022 0 384 4.73 % 1/31/2023 Prudential Funding LLC 6/26/2023 109 0 5.57 % 7/27/2023 Prudential Funding LLC 6/27/2023 132 0 5.57 % 7/27/2023 Prudential Funding LLC 6/28/2023 167 0 5.56 % 7/27/2023 Prudential Funding LLC 6/30/2023 12 0 5.47 % 7/27/2023 Prudential Funding LLC 6/30/2023 75 0 5.45 % 7/3/2023 Total Loans Payable to Affiliates $ 307,123 $ 311,813 The total interes t expense to the Company related to affiliated loans and cash collateral with PGF was $2 million and $(5) million for the three months ended June 30, 2023 and 2022, respectively, and $5 million and $(5) million for the six months ended June 30, 2023 and 2022, respectively. Contributed Capital and Dividends In February 2023, the Company received a capital contribution in the amount of $405 million from Prudential Insurance. In March, June and September 2022, the Company received capital contributions in the amount of $8 million, $3 million and $7 million, respectively, from Prudential Insurance. In June 2023, there was a $300 million return of capital to Prudential Insurance. Through June 2023 and December 2022, the Company did not pay any dividends to Prudential Insurance. Reinsurance with Affiliates As discussed in Note 11, the Company participates in reinsurance transactions with certain affiliates.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	COMMITMENTS AND CONTINGENT LIABILITIES Commitments The Company has made commitments to fund commercial mortgage loans. As of June 30, 2023 and December 31, 2022, the outstanding balances on these commitments were $138 million and $333 million, respectively. These amounts include unfunded commitments that are not unconditionally cancellable. For related credit exposure, there was an allowance for credit losses o f $0.2 million and $0.1 million as of June 30, 2023 and December 31, 2022, respectively. There were $0.1 million and $0.0 million changes in allowance for both the three and six months ended June 30, 2023 and 2022, respectively. The Company also made commitments to purchase or fund investments, mostly private fixed maturities. As of June 30, 2023 and December 31, 2022, $786 million and $582 million, respectively, of these commitments were outstanding. These amounts include unfunded commitments that are not unconditionally cancellable. There were no related charges for credit losses for either the three or six months ended June 30, 2023 or 2022. Guarantees In July 2017, the Company formed a joint venture with CT Corp to provide life insurance solutions in Indonesia. The Company owns a 49% interest in the joint venture and has entered into a shareholders agreement with CT Corp that sets out their respective rights and obligations with respect to the joint venture. Among other things, the shareholders agreement obligates the Company and CT Corp to provide capital to the joint venture, as necessary to comply with applicable law or to maintain a specified minimum amount of capital in the joint venture. This obligation is not limited to a maximum amount. The Company does not expect to make any payments on this guarantee and is not carrying any liabilities associated with the guarantee. Since 2001, the Company entered into an arrangement with Prudential of Taiwan. In June 2021, PIIH completed the sale of Prudential of Taiwan. As a result of the sale, the Company has a financial guarantee to stand ready to perform in an event that both Prudential of Taiwan and the Buyer default and fail to perform their obligations to make payments to the policyholders. The Company has a liability of $32 million and $33 million as of June 30, 2023 and December 31, 2022, respectively, which represents the fair value of the guarantee and is amortized in revenue over a period which approximates the life of the underlying insurance in force. Since this obligation is not subject to limitations, it is not possible to determine the maximum potential amount due under this guarantee. Contingent Liabilities On an ongoing basis, the Company and its regulators review its operations including, but not limited to, sales and other customer interface procedures and practices, and procedures for meeting obligations to its customers and other parties. These reviews may result in the modification or enhancement of processes or the imposition of other action plans, including concerning management oversight, sales and other customer interface procedures and practices, and the timing or computation of payments to customers and other parties. In certain cases, if appropriate, the Company may offer customers or other parties remediation and may incur charges, including the cost of such remediation, administrative costs and regulatory fines. The Company is subject to the laws and regulations of states and other jurisdictions concerning the identification, reporting and escheatment of unclaimed or abandoned funds, and is subject to audit and examination for compliance with these requirements. It is possible that the results of operations or the cash flows of the Company in a particular quarterly or annual period could be materially affected as a result of payments in connection with the matters discussed above or other matters depending, in part, upon the results of operations or cash flows for such period. Management believes, however, that ultimate payments in connection with these matters, after consideration of applicable reserves and rights to indemnification, should not have a material adverse effect on the Company’s financial position. Litigation and Regulatory Matters The Company is subject to legal and regulatory actions in the ordinary course of its business. Pending legal and regulatory actions include proceedings specific to the Company and proceedings generally applicable to business practices in the industry in which it operates. The Company is subject to class action lawsuits and other litigation involving a variety of issues and allegations involving sales practices, claims payments and procedures, premium charges, policy servicing and breach of fiduciary duty to customers. The Company is also subject to litigation arising out of its general business activities, such as its investments, contracts, leases and labor and employment relationships, including claims of discrimination and harassment, and could be exposed to claims or litigation concerning certain business or process patents. In addition, the Company, along with other participants in the businesses in which it engages, may be subject from time to time to investigations, examinations and inquiries, in some cases industry-wide, concerning issues or matters upon which such regulators have determined to focus. In some of the Company’s pending legal and regulatory actions, parties are seeking large and/or indeterminate amounts, including punitive or exemplary damages. The outcome of litigation or a regulatory matter, and the amount or range of potential loss at any particular time, is often inherently uncertain. The Company establishes accruals for litigation and regulatory matters when it is probable that a loss has been incurred and the amount of that loss can be reasonably estimated. For litigation and regulatory matters where a loss may be reasonably possible, but not probable, or is probable but not reasonably estimable, no accrual is established, but the matter, if material, is disclosed. The Company estimates that as of June 30, 2023, the aggregate range of reasonably possible losses in excess of accruals established for those litigation and regulatory matters for which such an estimate currently can be made is less than $100 million. This estimate is not an indication of expected loss, if any, or the Company's maximum possible loss exposure on such matters. The Company reviews relevant information with respect to its litigation and regulatory matters on a quarterly and annual basis and updates its accruals, disclosures and estimates of reasonably possible loss based on such reviews. The following discussion of litigation and regulatory matters provides an update of those matters discussed in Note 16 to the Company's Consolidated Financial Statements included in the Company's restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023, and should be read in conjunction with the complete descriptions provided therein. There are no material developments in previously reported matters disclosed as of December 31, 2022. Summary The Company’s litigation and regulatory matters are subject to many uncertainties, and given their complexity and scope, their outcome cannot be predicted. It is possible that the Company’s results of operations or cash flows in a particular quarterly or annual period could be materially affected by an ultimate unfavorable resolution of pending litigation and regulatory matters depending, in part, upon the results of operations or cash flows for such period. In light of the unpredictability of the Company’s litigation and regulatory matters, it is also possible that in certain cases an ultimate unfavorable resolution of one or more pending litigation or regulatory matters could have a material adverse effect on the Company’s financial statements. Management believes, however, that, based on information currently known to it, the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable reserves and rights to indemnification, is not likely to have a material adverse effect on the Company’s financial statements.

Significant Accounting Polici_2

Significant Accounting Policies and Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation On January 1, 2023, the Company adopted ASU 2018-12, Financial Services— Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, which provided new authoritative guidance impacting the accounting and disclosure requirements for long-duration insurance and investment contracts issued by the Company. See “Adoption of ASU 2018-12” below for additional information regarding this adoption, including the impacts to the Company’s 2022 financial statements from implementing the new accounting standard as well as the transition impacts recorded as of January 1, 2021. See Note 2 for additional details regarding the key policy changes effected by this ASU and updated accounting policies resulting from the adoption of this ASU for all periods presented in the Unaudited Interim Consolidated Financial Statements. The Unaudited Interim Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Intercompany balances and transactions have been eliminated. 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 financial statements should be read in conjunction with the Company's Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and the Company's restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period presentation.
New accounting pronouncements including the Adoption of ASU 2018-12	Adoption of ASU 2018-12 Effective January 1, 2023, the Company adopted ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . Adoption of this ASU impacted, at least to some extent, the accounting and disclosure requirements for all long-duration insurance and investment contracts issued by the Company and had a significant financial impact on the Consolidated Financial Statements and disclosures. See Note 1 for additional information. As of the January 1, 2021 transition date, the adoption of the standard resulted in a decrease to “Total equity” of $271 million, primarily from remeasuring in force contract liabilities using upper-medium grade fixed income instrument yields as of the transition date and from other changes in reserves. As of the January 1, 2023 adoption date, the impact amounted to an increase to "Total equity" of $673 million. The changes in the impacts from January 1, 2021 to January 1, 2023 primarily reflect the increase in market interest rates during 2021 and 2022. Outlined below are: (1) key accounting policy changes effected by the ASU and (2) updated accounting policies for all of the periods presented in the Unaudited Interim Consolidated Financial Statements. (1) Key Accounting Policy Changes Area of Change Description Method of adoption Effect on the financial statements or other significant matters Cash flow assumptions used to measure the liability for future policy benefits for non-participating traditional and limited-payment insurance products Requires an entity to review, and if necessary, update the cash flow assumptions used to measure the liability for future policy benefits, for both changes in future assumptions and actual experience, at least annually using a retrospective update method with a cumulative catch-up adjustment recorded in a separate line item in the Consolidated Statements of Operations. Effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021 (the “transition date”). Under this method, the amendments to contracts in force were applied as of January 1, 2021 on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI The impact upon transition reflects the impact on in force contract liabilities in instances where expected net premiums exceeded expected gross premiums at an issue-year cohort level as a result of updating to current best estimate cash flow assumptions as of the transition date. As a result of the modified retrospective transition method, the vast majority of the impact of updating cash flow assumptions to best estimates as of the transition date will be reflected in the pattern of earnings in subsequent periods. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 8 for additional information. Discount rate assumption used to measure the liability for future policy benefits for non-participating traditional and limited-payment insurance products Requires discount rate assumptions to be based on an upper-medium grade fixed income instrument yields, which will be updated each quarter with the impact recorded through OCI. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the discount rate assumptions. As noted above, the guidance for the liability for future policy benefits was adopted effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Under this method, for balance sheet remeasurement purposes, the liability for future policy benefits is remeasured using discount rates as of January 1, 2021 with the impact recorded as a cumulative effect adjustment to AOCI. Adoption of the ASU resulted in a significant impact to AOCI as a result of remeasuring in force contract liabilities using current upper-medium grade fixed income instrument yields. This adjustment largely reflects the difference between discount rates locked-in at contract inception versus current discount rates. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 8 for additional information. Area of Change Description Method of adoption Effect on the financial statements or other significant matters Amortization of deferred acquisition costs and other balances Requires DAC and other balances, such as URR and Deferred Sales Inducements ("DSI"), to be amortized on a constant level basis over the expected term of the related contract, independent of expected profitability. Effective January 1, 2023 using the modified retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Under this method, the amendments to contracts in force were applied as of January 1, 2021 on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI. Adoption of the ASU did not have a significant impact on DAC and other balances upon transition, other than the impact of the removal of any related amounts in AOCI. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 6 for additional information. Market Risk Benefits Requires an entity to measure all market risk benefits (e.g., living benefit and death benefit guarantees associated with variable annuities) at fair value, and record MRB assets and liabilities separately on the Consolidated Statements of Financial Position. Changes in the fair value of market risk benefits are recorded in net income, except for the portion attributable to changes in an entity’s NPR, which is recognized in OCI. An entity shall maximize the use of relevant observable information and minimize the use of unobservable information in determining the balance of the market risk benefits upon adoption. Effective January 1, 2023 using the retrospective transition method, which includes a cumulative effect adjustment to the balance sheet as of January 1, 2021. Adoption of the ASU resulted in an adjustment to retained earnings for the difference between the fair value and carrying value of benefits not measured at fair value prior to the adoption of the ASU (e.g., guaranteed minimum death benefits on variable annuities) and a reclass of the cumulative effect of changes in NPR from retained earnings to AOCI. See Note 1 for additional information regarding the effect on the financial statements. Adoption of the standard also resulted in additional required disclosures. See Note 10 for additional information. In addition to the significant key accounting changes noted above, ASU 2018-12 also clarified the definition of assessments used to accrue additional insurance reserves and other related balances, primarily for no-lapse guarantee features on certain universal life contracts. Application of the new guidance changed the pattern of reserve recognition for these guarantees and resulted in an increase to the net contract liabilities related to these products at transition. See Note 1 for additional information regarding the effect on the financial statements. ASU 2022-05, Financial Services – Insurance (Topic 944) Transition for Sold Contracts was issued on December 15, 2022, to amend the transition guidance in ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts . The amendment allows an insurance entity to make an accounting policy election to not apply ASU 2018-12 to contracts or legal entities sold or disposed of before the effective date, and in which the insurance entity has no significant continuing involvement with the derecognized contracts. An insurance entity is permitted to apply the policy election on a transaction by transaction basis to each sale or disposal transaction. An insurance entity is required to disclose whether it has chosen to apply this accounting policy election and provide a qualitative description of the sale or disposal transactions to which the accounting policy election is applied. The Company did not apply this accounting policy election. Other ASUs adopted during the six months ended June 30, 2023 The Company adopted ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosure, effective January 1, 2023, on a prospective basis. This ASU eliminates the accounting guidance for Troubled Debt Restructurings (“TDR”) for creditors and adds enhanced disclosure requirements. Following adoption of the ASU, all loan refinancings and restructurings are subject to the modification guidance in ASC 310-20. Specific to the accounting policy for commercial mortgage and other loans, adoption of the ASU resulted in the elimination of TDRs such that, on a prospective basis, all modifications are evaluated under the existing modification guidance in ASC 310-20 to determine whether a modification results in a new financial instrument or a continuation of the existing financial instrument. Furthermore, for modifications of loans that have a CECL allowance and result in a continuation of the existing loan, the CECL allowance of the loan is remeasured using the modified terms and the post-modification effective yield. Prior to the adoption of the ASU, if a loan modification was a TDR, the CECL allowance of the loan was remeasured using the modified terms and the loan’s original effective yield. Adoption of the ASU did not have a significant impact on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements.
Deferred policy acquisition costs ("DAC")	Deferred policy acquisition costs represents costs directly related to the successful acquisition of new and renewal insurance and annuity business. Such DAC primarily includes commissions, costs of policy issuance and underwriting, and certain other expenses that are directly related to successfully acquired contracts. In each reporting period, previously capitalized DAC is amortized and included in “Amortization of deferred policy acquisition costs”, and the carrying amount of DAC is not subject to recoverability testing upon adoption of ASU 2018-12. DAC is amortized on a constant-level basis at a grouped contract level over the expected life of the underlying insurance contracts. Contracts are grouped consistent with the groupings used to estimate the liability for future policy benefits (or other related balances) for the corresponding contracts. Since contracts within a grouping may be of different sizes, contracts within a group are weighted to achieve appropriate amortization and to ensure that DAC is derecognized when a policy is no longer in force. The constant-level basis used to weight contracts within a grouping and amortize DAC is generally defined as follows: • Life insurance contracts – DAC associated with life insurance contracts is generally amortized in proportion to the initial face amount of life insurance in force. This is applicable to traditional and universal life insurance. • Payout annuity contracts – DAC associated with payout annuity contracts is amortized in proportion to annual benefit payments. • Deferred annuity contracts – DAC associated with fixed and variable deferred annuity contracts is amortized in proportion to deposits. For single premium immediate annuities without life contingencies, acquisition expenses are deferred and amortized over the expected life of the contracts using the interest method. Current period DAC amortization reflects the impact of changes in actual insurance in force during the period and changes in future assumptions effected as of the end of the quarter, where applicable. The Company typically updates actuarial assumptions annually in the second quarter, (see "Annual Assumptions Review" below), unless a material change is observed in an interim period that is indicative of a long-term trend. Generally, the Company does not expect trends to change significantly in the short-term and, to the extent these trends may change, the Company expects such changes to be gradual over the long-term. Assumptions used for DAC are consistent with those used in estimating the liability for future policy benefits (or any other related balance) for the corresponding contract. Determining the level of aggregation and actuarial assumptions used in projecting in force terminations requires judgment. Internal criteria are developed to determine the level of aggregation by considering both qualitative and quantitative materiality thresholds. The assumptions used in projecting in force terminations are mortality, mortality improvement, and lapse assumptions. These assumptions are generally based on the Company’s experience, industry experience and/or other factors, as applicable. For variable deferred annuity contracts, lapse rates are adjusted at the contract level based on the in-the-moneyness of the living benefits and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates are also generally assumed to be lower for the period where surrender charges apply.
Reinsurance recoverables	Reinsurance recoverables include corresponding receivables associated with reinsurance arrangements with affiliates and third party reinsurers, and are reported on the Consolidated Statements of Financial Position net of the CECL allowance. Reinsurance recoverables also include assumed modified coinsurance arrangements which generally reflect the value of the invested assets retained by the cedant and the associated asset returns. Modified coinsurance recoverables contain an embedded derivative (bifurcated and accounted for separately from the host contract) that is presented together with the derivative embedded in the modified coinsurance payables as one compound derivative. For additional information about these arrangements see Note 11. The CECL allowance considers the credit quality of the reinsurance counterparty and is generally determined based on the probability of default and loss given default assumptions, after considering any applicable collateral arrangements. The CECL allowance does not apply to reinsurance recoverables with affiliated counterparties under common control. Additions to or releases of the allowance are reported in “Policyholders’ benefits.” Prior to the adoption of this standard, an allowance for credit losses for reinsurance recoverables was established only when it was deemed probable that a reinsurer may fail to make payments to us in a timely manner. Reinsurance premiums, commissions, expense reimbursements, benefits and reserves related to reinsured long-duration contracts under coinsurance arrangements are accounted for over the life of the underlying reinsured contracts using assumptions consistent with those used to account for the underlying contracts. For reinsurance of in force blocks of non-participating traditional and limited-payment contracts, the current value of the direct liability as of inception of the reinsurance agreement is used to calculate the reinsurance recoverable and cost of reinsurance such that there is no immediate other comprehensive income or loss from recognition of the reinsurance recoverable at inception. Consistent with the direct liability, the reinsurance recoverable for non-participating traditional and limited-payment contracts is remeasured each period using current single A rates with the effect on the liability resulting from such updates recorded in "Interest rate remeasurement of future policy benefits" in OCI. Coinsurance arrangements contrast with the Company’s yearly renewable term arrangements, where only mortality risk is transferred to the reinsurer and premiums are paid to the reinsurer to reinsure that risk. The mortality risk that is reinsured under yearly renewable term arrangements represents the difference between the stated death benefits in the underlying reinsured contracts and the corresponding reserves or account value carried by the Company on those same contracts. The premiums paid to the reinsurer are based upon negotiated amounts, not on the actual premiums paid by the underlying contractholders to the Company. As yearly renewable term arrangements are usually entered into by the Company with the expectation that the contracts will be in force for the lives of the underlying policies, they are considered to be long-duration reinsurance contracts. The cost of reinsurance for universal life products is generally recognized based on the gross assessments of the underlying direct policies. The cost of reinsurance for term insurance products is generally recognized in proportion to direct premiums over the life of the underlying policies.
Market risk benefits (assets and liabilities)	Market risk benefit assets represents MRBs in an asset position and are presented separately from MRBs in a liability position. See “ Market risk benefit liabilities ” below. MRB assets also reflect ceded MRBs resulting from reinsurance of the Company's Prudential Defined Income ("PDI") traditional variable annuity contracts. See Note 11 for additional information regarding the reinsurance of PDI. Market risk benefit liabilities represents contracts or contract features that provide protection to the contractholder and exposes the Company to other than nominal capital market risk, primarily related to deferred annuities with guaranteed minimum benefits associated with annuities products including guaranteed minimum death benefits (“GMDB”), guaranteed minimum income benefits (“GMIB”), guaranteed minimum accumulation benefits (“GMAB”), guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum income and withdrawal benefits (“GMIWB”). The benefits are accounted for using a fair value measurement framework. If a contract contains multiple market risk benefits, the benefits are bundled together and accounted for as a single compound market risk benefit. Market risk benefits in an asset position are presented separately from those in a liability position as there is no legal right of offset between contracts. The fair value of market risk benefits is calculated as the present value of expected future benefit payments to contractholders less the present value of expected future rider fees attributable to the market risk benefit. The fair value of market risk benefits is based on assumptions a market participant would use in valuing market risk benefits. For additional information regarding the valuation of market risk benefits, see Note 5. On a quarterly basis, changes in the fair value of market risk benefits are recorded in net income, net of related hedges, in "Change in value of market risk benefits, net of related hedging gains (losses)", except for the portion of the change attributable to changes in the Company’s NPR which is recorded in OCI. See Note 10 for additional information regarding market risk benefits. Consistent with direct contracts, reinsurance agreements may also include features that meet the definition of an MRB and, if so, are accounted for at fair value. The fair value of direct or assumed MRBs reflects the Company's NPR, while the fair value of ceded MRBs reflects the counterparty credit risk of the reinsurer. Changes in the fair value of ceded MRBs, including the impact of changes in counterparty credit risk, are recorded in net income in "Change in value of market risk benefits, net of related hedging gain (loss)".
Other assets and Other liabilities	Other assets consists primarily of deposit assets related to a reinsurance agreement entered into with a third-party reinsurer during 2021 using deposit accounting under U.S. GAAP, see Note 11 for additional information. Included in these deposit assets are amounts representing fair value of embedded derivative instruments associated with the index-linked features of certain annuity products. For additional information regarding the valuation of these embedded derivatives, see Note 5. Also included are premiums due, deferred loss on reinsurance which is amortized over the expected life of the reinsured contracts on a constant-level basis, receivables resulting from sales of securities that had not yet settled at the balance sheet date, prepaid tax expenses, and the Company’s investments in operating joint ventures. Investments in operating joint ventures are generally accounted for under the equity method. The carrying value of these investments is written down, or impaired, to fair value when a decline in value is considered to be other-than-temporary. Other liabilities consists primarily of reinsurance payables associated with reinsurance arrangements that correspond to reinsurance receivables included above in “Reinsurance recoverables”. Also included is a funds withheld liability for assets retained under a reinsurance agreement that corresponds to the deposit assets above in "Other assets". For additional information about these arrangements see Note 11. Additionally other liabilities includes accrued expenses, technical overdrafts, payables resulting from purchases of securities that had not yet settled at the balance sheet date and deferred gain on reinsurance. The amortization method for deferred gain on reinsurance is amortized over the expected life of the reinsured contracts on a constant-level basis. Other liabilities may also include derivative instruments for which fair values are determined as described below under "Derivative Financial Instruments".
Deferred Sales Inducements	Deferred Sales Inducements are amounts that are credited to a policyholders’ account balance primarily as an inducement to purchase fixed and/or variable deferred annuity contracts. The Company defers sales inducements and amortizes them over the expected life of the policy using the same methodology, factors and assumptions used to amortize DAC. The Company records amortization of DSI in “Interest credited to policyholders’ account balances.” Unlike DAC, DSI are considered contractual cash flows and, as a result, are subject to periodic recoverability testing. See Note 6 for additional information regarding DSI.
Separate account assets and liabilities and Policyholders’ account balances	Separate account assets represents segregated funds that are invested for certain policyholders, and other customers. The assets consist primarily of equity securities, fixed maturities, real estate-related investments, real estate mortgage loans, short-term investments and derivative instruments and are reported at fair value. The assets of each account are legally segregated and are not subject to claims that arise out of any other business of the Company. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. The investment income and realized investment gains or losses from separate account assets generally accrue to the policyholders and are not included in the Company’s results of operations. Mortality, policy administration and surrender charges assessed against the accounts are included in “Policy charges and fee income”. Asset administration fees charged to the accounts are included in “Asset administration fees”. Seed money that the Company invests in separate accounts is reported in the appropriate general account asset line. Investment income and realized investment gains or losses from seed money invested in separate accounts accrue to the Company and are included in the Company’s results of operations. See Note 7 for additional information regarding separate account arrangements with contractual guarantees. See also “Separate account liabilities ” below. Policyholders’ account balances liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. This liability is primarily associated with the accumulated account deposits, plus interest credited, less policyholder withdrawals and other charges assessed against the account balance, as applicable. These policyholders’ account balances also include provision for benefits under non-life contingent payout annuities and certain unearned revenues. The unearned revenue liability represents policy charges for services to be provided in future periods. The charges are deferred as incurred and are generally amortized over the expected life of the contract using the same methodology, factors, and assumption used to amortize DAC. See Note 9 for additional information regarding policyholders’ account balances. Policyholders' account balances also include amounts representing the fair value of embedded derivative instruments associated with the index-linked feature of certain universal life and annuity products. For additional information regarding the valuation of these embedded derivatives, see Note 5. Separate account liabilities primarily represents the contractholders’ account balance in separate account assets and to a lesser extent borrowings of the separate account, and will be equal and offsetting to total separate account assets. See also “ Separate account assets” above.
Future policy benefits	Future policy benefits is primarily comprised of the present value of expected future payments to or on behalf of policyholders, where the timing and amount of such payments depend on policyholder mortality or morbidity, less the present value of expected future net premiums (where net premiums are gross premiums multiplied by the Net-To-Gross ("NTG") ratio discussed below). The liability for future policy benefits is accrued over time as premium revenue is recognized. See Note 8 for additional information regarding future policy benefits. The reserving methodology used for non-participating traditional and limited-payment contracts include the following: • Cash Flow Assumptions . In measuring the liability for future policy benefits, the net premium valuation methodology is utilized. Under this methodology, a liability for future policy benefits is established using current best estimate insurance assumptions and interest rate assumptions locked-in at contract issuance date. The NTG ratio is calculated as the ratio of the present value of expected policy benefits and non-level claim settlement expenses divided by the present value of expected gross premiums. The NTG ratio is applied to gross premiums, as premium revenue is recognized, to determine net premiums. The liability is then determined as the present value of expected future policy benefits and non-level claim settlement expenses less the present value of expected future net premiums. For purposes of liability measurement, contracts are grouped into cohorts based primarily on issue year and major product line. The NTG ratio is generally updated quarterly for actual experience and annually for future cash flow assumption updates during the Company’s annual assumptions review process in the second quarter of each year unless a material change is observed in an interim period that is indicative of a long-term trend (see “ Annual Assumptions Review” below), with the exception of claim settlement expense assumptions which the Company has made an entity-wide election to lock-in as of contract issuance. The NTG ratio is subject to a retrospective unlocking method whereby the Company updates its best estimate of cash flows expected over the life of the cohort using actual historical experience and updated future cash flow assumptions. These updated cash flows are used to calculate the revised NTG ratio, which is used to derive an updated liability for future policy benefits as of the beginning of the current reporting period, discounted at the original contract issuance discount rate. The updated liability for future policy benefit amount as of the beginning of the quarter is then compared to the carrying amount of the liability as of that same date, before the updates for actual experience or future cash flow assumptions, to determine the current period change in liability estimate. This current period change in the liability is the liability remeasurement gain or loss that is recorded through current period earnings in “Change in estimates of liability for future policy benefits.” In subsequent periods, the revised NTG ratio is used to measure the liability for future policy benefits, subject to future revisions. If a cohort is in a loss position where the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and non-level claim settlement expenses, the NTG ratio is capped at 100%. In these instances, all changes in expected benefits resulting from both actual experience deviations and changes in future assumptions are reflected immediately. While the liability for future policy benefits cannot be less than zero (i.e., a contra-liability) at the cohort level and thus the balance is floored at zero (i.e., “flooring”), the NTG ratio may be negative. This would be the case whereby conditions have improved such that the present value of future net premiums plus the existing liability for future policy benefits as of the valuation date exceed the present value of expected future policy benefits and non-level claim settlement expenses. In this case, the negative NTG ratio would be applied going forward to gross premiums received, effectively amortizing the gain into income and reducing the liability over time. In addition, for limited-payment contracts, the liability for future policy benefits also includes a Deferred Profit Liability representing gross premiums received in excess of net premiums and is generally recognized in revenue in a constant relationship with insurance in force for life contracts or with the amount of expected future benefit payments for annuity contracts. The DPL is subject to a retrospective unlocking adjustment consistent with the liability for future policy benefits discussed above. The DPL cannot be less than zero (i.e., a contra-liability) at the cohort level and thus the balance is floored at zero (i.e., “flooring”). For contracts issued prior to January 1, 2021, the modified retrospective transition method was used to transition to ASU 2018-12. Under this method, the transition date of January 1, 2021 serves as the new issue date of the contracts in force for purposes of retrospectively unlocking the NTG ratio and DPL as described above. • Discount Rate Assumption. The locked-in discount rate is generally based on expected investment returns at contract inception for contracts issued prior to January 1, 2021 and the upper medium grade fixed income corporate instrument yield (i.e., global single A) at contract inception for contracts issued after January 1, 2021. The discount rate in effect at contract inception is locked-in for the calculation of the NTG ratio and accretion of interest cost on the liability through net income. However, for balance sheet remeasurement purposes, the discount rate is updated using the current single A rate at each reporting period, with the effect on the liability resulting from such update recorded in “Interest rate remeasurement of future policy benefits" in OCI. The methodology used in constructing the single A discount rate curve for discounting cash flows used to calculate the liability for future policy benefits is intended to be reflective of the characteristics of the applicable insurance liabilities. The single A discount rate curve is developed by reference to upper medium grade (low credit risk) fixed income instrument yields that reflect the duration characteristics of the applicable insurance liabilities. The single A discount curve for the United States and foreign economies, such as Japan, with observable corporate A spreads, is developed using government bond rates, plus globally equivalent public corporate A spreads in the observable periods. The definition of upper medium grade is based on Moody’s definition which includes the spectrum of A (i.e., A- to A+). The rate used in foreign operations (with the exception of certain emerging markets, as discussed below) is based on the equivalent of a single A rate from a global rating agency for corporate bonds issued in the same currency and country in which the insurance contract is written. Liquidity is considered in defining the observable period and linear extrapolation is performed to the Company's ultimate long-term economic assumptions. See “Annual Assumptions Review” below for further discussion regarding the Company’s long-term economic assumption setting process. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain long-duration life contracts, such as no-lapse guarantee contract features (AIR liability), for which a liability is established when associated assessments are recognized (which include investment margin on policyholders' account balances in the general account and all policy charges including charges for administration, mortality, expense, surrender, and other charges). This liability is established using current best estimate assumptions and is based on the ratio of the present value of total expected excess payments (i.e., payments in excess of account value) over the life of the contract divided by the present value of total expected assessments (i.e., benefit ratio). For universal life type contracts and participating contracts, the Company performs premium deficiency tests using best estimate assumptions as of the testing date. If the liabilities determined based on these best estimate assumptions are greater than the net reserves (i.e., GAAP reserves including URR, net of reinsurance and any DSI asset), the existing net reserves are adjusted by first reducing these assets by the amount of the deficiency or to zero through a charge to current period earnings. If the deficiency is more than these asset balances for insurance contracts, the net reserves are increased by the excess through a charge to current period earnings included in "policyholders' benefits". Since investment yields are used as the discount rate, the premium deficiency test is also performed using a discount rate based on the market yield (i.e., assuming what would be the impact if any unrealized gains (losses) were realized as of the testing date). In the event that by using the market yield a deficiency occurs, an adjustment is established for the deficiency and is included in AOCI. In certain instances, for universal life type contracts and participating contracts, the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. In these situations, accounting standards require that an additional liability (Profits Followed by Losses or “PFL” liability) be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years. To date, the Company has not recorded a PFL liability on any such contracts.
Insurance Revenue And Expense Recognition	Insurance Revenue and Expense Recognition Premiums from individual life products, other than universal and variable life contracts, are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium (i.e., the portion of the gross premium required to provide for all expected future policy benefits and non-level claim settlement expenses) is generally deferred and recognized into revenue in a constant relationship to insurance in force. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized as described in "Future policy benefits" above. Premiums from single premium immediate annuities with life contingencies are recognized when due. When premiums are due over a significantly shorter period than the period over which benefits are provided, any gross premium in excess of the net premium is generally deferred and recognized into revenue based on expected future benefit payments. Benefits are recorded as an expense when they are incurred. A liability for future policy benefits is recorded when premiums are recognized as described in "Future policy benefits" above. Certain individual annuity contracts provide the contractholder a guarantee that the benefit received upon death or annuitization will be no less than a minimum prescribed amount. These benefits are generally accounted for as market risk benefits (see “ Market risk benefits ” above). Amounts received from policyholders as payment for universal or variable individual life contracts, deferred fixed or variable annuities and other contracts without life contingencies are reported as deposits to “Policyholders’ account balances” and/or “Separate account liabilities.” Revenues from these contracts are reflected in “Policy charges and fee income” consisting primarily of fees assessed during the period against the policyholders’ account balances for mortality and other benefit charges, policy administration charges and surrender charges. In addition to fees, the Company earns investment income from the investment of deposits in the Company’s general account portfolio. Fees assessed that represent compensation to the Company for services to be provided in future periods and certain other fees are generally deferred and amortized into revenue over the life of the related contracts using the same methodology, factors, and assumption used to amortize DAC as described above. Benefits and expenses for these products include claims in excess of related account balances, expenses of contract administration, interest credited to policyholders’ account balances and amortization of DAC and DSI. Policyholders’ account balances also includes amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain universal life and annuity products where changes in the value of the embedded derivatives are recorded through "Realized investment gains (losses), net". For additional information regarding the valuation of these embedded derivatives, see Note 5.

Business and Basis of Present_2

Business and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Policy Acquisition Costs	The following tables show a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Six Months Ended June 30, 2023 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 102,251 $ 3,736,454 $ 648,837 $ 2,442,883 $ 6,930,425 Capitalization 48,552 117,342 72,216 275,783 513,893 Amortization expense (9,490) (166,332) (31,084) (59,736) (266,642) Other(1) 0 (393,385) 0 0 (393,385) Balance, end of period $ 141,313 $ 3,294,079 $ 689,969 $ 2,658,930 $ 6,784,291 (1) Other includes the impact of the reinsurance agreement with Ohio National. See Note 11 for additional information. Six Months Ended June 30, 2022 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 84,479 $ 3,806,733 $ 577,084 $ 2,561,011 $ 7,029,307 Capitalization 3,202 155,694 66,040 264,141 489,077 Amortization expense (6,773) (171,593) (26,020) (51,578) (255,964) Other(1) 0 0 2 (541,408) (541,406) Balance, end of period $ 80,908 $ 3,790,834 $ 617,106 $ 2,232,166 $ 6,721,014 (1) Other includes the impact of the reinsurance agreement with Lotus Re.
Liability for Future Policy Benefit (DRL, DRG, Benefit Reserves, DPL, and Additional Insurance Reserves)	The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits. Six Months Ended June 30, 2023 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 10,911,794 $ 0 $ 10,911,794 Effect of cumulative changes in discount rate assumptions, beginning of period 554,896 0 554,896 Balance at original discount rate, beginning of period 11,466,690 0 11,466,690 Effect of assumption update (790) 0 (790) Effect of actual variances from expected experience and other activity (65,230) (1,257) (66,487) Adjusted balance, beginning of period 11,400,670 (1,257) 11,399,413 Issuances 318,867 23,211 342,078 Net premiums / considerations collected (674,147) (21,954) (696,101) Interest accrual 261,862 0 261,862 Balance at original discount rate, end of period 11,307,252 0 11,307,252 Effect of cumulative changes in discount rate assumptions, end of period (484,287) 0 (484,287) Balance, end of period $ 10,822,965 $ 0 $ 10,822,965 Six Months Ended June 30, 2023 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 17,835,251 $ 204,727 $ 18,039,978 Effect of cumulative changes in discount rate assumptions, beginning of period 962,034 24,876 986,910 Balance at original discount rate, beginning of period 18,797,285 229,603 19,026,888 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (87,110) 4,195 (82,915) Adjusted balance, beginning of period 18,709,131 233,798 18,942,929 Issuances 318,867 23,211 342,078 Interest accrual 447,387 4,201 451,588 Benefit payments (716,919) (14,838) (731,757) Other adjustments 1,558 (33) 1,525 Balance at original discount rate, end of period 18,760,024 246,339 19,006,363 Effect of cumulative changes in discount rate assumptions, end of period (791,413) (26,245) (817,658) Balance, end of period $ 17,968,611 $ 220,094 $ 18,188,705 Other, end of period 1,941 Total balance, end of period $ 18,190,646 Six Months Ended June 30, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,145,646 $ 220,094 $ 7,365,740 Less: Reinsurance recoverable 6,614,071 17,835 6,631,906 Balance after reinsurance recoverable, end of period, post-flooring $ 531,575 $ 202,259 $ 733,834 Six Months Ended June 30, 2022 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,485,056 $ 0 $ 12,485,056 Effect of cumulative changes in discount rate assumptions, beginning of period (1,826,120) 0 (1,826,120) Balance at original discount rate, beginning of period 10,658,936 0 10,658,936 Effect of assumption update 1,295,294 0 1,295,294 Effect of actual variances from expected experience and other activity (84,412) (78) (84,490) Adjusted balance, beginning of period 11,869,818 (78) 11,869,740 Issuances 187,092 17,356 204,448 Net premiums / considerations collected (657,195) (17,278) (674,473) Interest accrual 257,706 0 257,706 Balance at original discount rate, end of period 11,657,421 0 11,657,421 Effect of cumulative changes in discount rate assumptions, end of period 22,765 0 22,765 Balance, end of period $ 11,680,186 $ 0 $ 11,680,186 Six Months Ended June 30, 2022 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 20,937,097 $ 237,065 $ 21,174,162 Effect of cumulative changes in discount rate assumptions, beginning of period (3,607,275) (16,704) (3,623,979) Balance at original discount rate, beginning of period 17,329,822 220,361 17,550,183 Effect of assumption update 1,756,995 0 1,756,995 Effect of actual variances from expected experience and other activity (167,637) 351 (167,286) Adjusted balance, beginning of period 18,919,180 220,712 19,139,892 Issuances 187,092 17,357 204,449 Interest accrual 436,119 3,809 439,928 Benefit payments (738,715) (13,658) (752,373) Other adjustments 1,781 (285) 1,496 Balance at original discount rate, end of period 18,805,457 227,935 19,033,392 Effect of cumulative changes in discount rate assumptions, end of period 144,406 (16,737) 127,669 Balance, end of period $ 18,949,863 $ 211,198 $ 19,161,061 Other, end of period 2,235 Total balance, end of period $ 19,163,296 Six Months Ended June 30, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,269,677 $ 211,198 $ 7,480,875 Less: Reinsurance recoverable 6,847,216 16,488 6,863,704 Balance after reinsurance recoverable, end of period, post-flooring $ 422,461 $ 194,710 $ 617,171 The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the periods indicated: Six Months Ended June 30, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,948,491 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,125,847 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,493,623 $ 0 Undiscounted expected future benefits and expenses $ 29,156,389 $ 328,414 Interest accrual $ 185,524 $ 4,201 Gross premiums $ 900,634 $ 24,200 Weighted-average duration of the liability in years (at original discount rate) 10 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.20 % 3.57 % Weighted-average interest rate (at current discount rate) 5.28 % 5.27 % Six Months Ended June 30, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,348,506 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,414,984 $ 0 Discounted expected future gross premiums (at current discount rate) $ 15,442,782 $ 0 Undiscounted expected future benefits and expenses $ 29,470,523 $ 302,195 Interest accrual $ 178,413 $ 3,809 Gross premiums $ 925,202 $ 19,545 Weighted-average duration of the liability in years (at original discount rate) 11 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.28 % 3.44 % Weighted-average interest rate (at current discount rate) 4.63 % 4.54 % The balances of and changes in Deferred Profit Liability as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 Effect of actual variances from expected experience and other activity (5,092) (607) Adjusted balance, beginning of period 13,101 15,158 Profits deferred 2,088 2,173 Interest accrual 294 276 Amortization (973) (950) Other adjustments (8) (25) Balance, end of period 14,502 16,632 Less: Reinsurance recoverable 1,558 1,722 Balance after reinsurance recoverable $ 12,944 $ 14,910 The following table provides supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated table above, on a gross (direct and assumed) basis, as of and for the period indicated: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Revenue(1) $ 3,691 $ (867) Interest accrual 294 276 (1) Represents the gross premiums collected in changes in deferred profit liability. The following table shows a rollforward of AIR balances for variable and universal life products for the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 Flooring impact and amounts in AOCI 1,269,237 (896,930) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,682 10,763,597 Effect of assumption update 22,910 2,197,592 Effect of actual variances from expected experience and other activity 26,204 (157,782) Adjusted balance, beginning of period 13,982,796 12,803,407 Assessments collected(1) 513,593 446,443 Interest accrual 237,869 203,986 Benefits paid (151,097) (100,856) Balance, excluding amounts in AOCI, end of period, pre-flooring 14,583,161 13,352,980 Flooring impact and amounts in AOCI (1,094,298) (859,387) Balance, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Less: Reinsurance recoverable 13,268,534 12,282,253 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 220,329 $ 211,340 (1) Represents the portion of gross assessments required to fund the future policy benefits. Six Months Ended June 30, 2023 2022 ($ in thousands) Interest accrual $ 237,869 $ 203,986 Gross assessments $ 785,370 $ 627,513 Weighted-average duration of the liability in years (at original discount rate) 22 23 Weighted-average interest rate (at original discount rate) 3.39 % 3.72 % The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Unaudited Interim Consolidated Statements of Financial Position as of the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Benefit reserves, end of period, post-flooring $ 7,365,740 $ 7,480,875 Deferred profit liability, end of period, post-flooring 14,502 16,632 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Subtotal of amounts disclosed above 20,869,105 19,991,100 Other Future policy benefits reserves(1) 1,108,889 1,035,166 Total Future policy benefits $ 21,977,994 $ 21,026,266 (1) Represents balances for which disaggregated rollforward disclosures are not required, including unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities. The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations for the periods indicated: Six Months Ended June 30, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 900,634 $ 0 $ 24,200 $ 924,834 Deferred profit liability 0 0 3,691 3,691 Additional insurance reserves 0 785,370 0 785,370 Total $ 900,634 $ 785,370 $ 27,891 $ 1,713,895 Six Months Ended June 30, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 925,202 $ 0 $ 19,545 $ 944,747 Deferred profit liability 0 0 (867) (867) Additional insurance reserves 0 627,513 0 627,513 Total $ 925,202 $ 627,513 $ 18,678 $ 1,571,393 (1) Represents "Gross premiums" for benefit reserves; "Revenue" for deferred profit liability and "Gross assessments" for additional insurance reserves. Six Months Ended June 30, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 185,524 $ 0 $ 4,201 $ 189,725 Deferred profit liability 0 0 294 294 Additional insurance reserves 0 237,869 0 237,869 Total $ 185,524 $ 237,869 $ 4,495 $ 427,888 Six Months Ended June 30, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 178,413 $ 0 $ 3,809 $ 182,222 Deferred profit liability 0 0 276 276 Additional insurance reserves 0 203,986 0 203,986 Total $ 178,413 $ 203,986 $ 4,085 $ 386,484
Additional Liability, Long-Duration Insurance (URR and Cost of Reinsurance)	: Six Months Ended June 30, 2023 2022 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 Unearned revenue 405,732 393,675 Amortization expense (70,981) (63,472) Other adjustments (93) 66 Balance, end of period 3,401,994 2,729,057 Less: Reinsurance recoverables 1,621,229 1,450,592 Unearned revenue reserve net of reinsurance recoverables $ 1,780,765 $ 1,278,465
Market Risk Benefits	The following tables show a rollforward of MRB balances for variable annuity products, along with a reconciliation to the Company’s total net MRB positions as of the following dates: Six Months Ended June 30, 2023 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 4,550,625 $ (422,261) $ 4,128,364 Effect of cumulative changes in non-performance risk 1,727,910 0 1,727,910 Balance, beginning of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Attributed fees collected 587,663 (107,425) 480,238 Claims paid (43,782) 3,681 (40,101) Interest accrual 160,106 (20,505) 139,601 Actual in force different from expected 36,193 (6,069) 30,124 Effect of changes in interest rates (671,989) 169,229 (502,760) Effect of changes in equity markets (1,314,461) 127,157 (1,187,304) Effect of assumption update 330,769 (54,067) 276,702 Issuances 11,403 9,025 20,428 Other adjustments(1) (17,436) (638,198) (655,634) Effect of changes in current period counterparty non-performance risk 0 (7,445) (7,445) Balance, end of period, before effect of changes in non-performance risk 5,357,001 (946,878) 4,410,123 Effect of cumulative changes in non-performance risk (1,660,587) 0 (1,660,587) Balance, end of period $ 3,696,414 $ (946,878) $ 2,749,536 Six Months Ended June 30, 2022 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 8,884,362 $ (906,484) $ 7,977,878 Effect of cumulative changes in non-performance risk 287,605 0 287,605 Balance, beginning of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Attributed fees collected 659,743 (77,427) 582,316 Claims paid (16,431) 318 (16,113) Interest accrual 26,589 (2,564) 24,025 Actual in force different from expected 44,344 (4,746) 39,598 Effect of changes in interest rates (5,067,986) 527,662 (4,540,324) Effect of changes in equity markets 3,238,166 (339,149) 2,899,017 Effect of assumption update (160,596) 23,170 (137,426) Effect of changes in current period counterparty non-performance risk 0 223,753 223,753 Balance, end of period, before effect of changes in non-performance risk 7,895,796 (555,467) 7,340,329 Effect of cumulative changes in non-performance risk (2,077,191) 0 (2,077,191) Balance, end of period $ 5,818,605 $ (555,467) $ 5,263,138 (1) Other adjustments for June 30, 2023 primarily includes $638 million related to the reinsurance transaction with Ohio National. See Note 11 for additional information. The following table presents accompanying information to the rollforward table above. June 30, 2023 June 30, 2022 Variable Annuities ($ in thousands) Net amount at risk(1) $ 10,067,522 $ 10,510,747 Weighted-average attained age of contractholders 69 68 (1) For contracts with multiple benefit features, the highest net amount at risk for each contract is included. The table below reconciles MRB asset and liability positions as of the following dates: June 30, 2023 June 30, 2022 Variable Annuities (in thousands) Market risk benefit assets $ 2,340,230 $ 1,422,757 Market risk benefit liabilities 5,089,766 6,685,895 Net liability $ 2,749,536 $ 5,263,138
Transition adjustment from the adoption of ASU 2018-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards of New Guidance on Financial Statements	Unaudited Interim Consolidated Statements of Financial Position: December 31, 2022 IMPACTED LINES ONLY As Previously Reported Effect of As Currently Reported (in thousands) Deferred policy acquisition costs $ 6,616,097 $ 314,328 $ 6,930,425 Reinsurance recoverables 34,561,825 2,534,737 37,096,562 Deferred sales inducements 275,574 105,930 381,504 Income tax assets 1,873,740 (178,989) 1,694,751 Market risk benefit assets 0 1,393,237 1,393,237 Other assets 1,327,393 4,034 1,331,427 TOTAL ASSETS $ 189,299,841 $ 4,173,277 $ 193,473,118 Policyholders’ account balances $ 41,748,241 $ 164,295 $ 41,912,536 Future policy benefits 23,204,533 (2,375,500) 20,829,033 Market risk benefit liabilities 0 5,521,601 5,521,601 Other liabilities 3,407,156 190,217 3,597,373 Total liabilities 184,936,310 3,500,613 188,436,923 Retained earnings / (accumulated deficit) (95,583) (898,571) (994,154) Accumulated other comprehensive income (loss) (1,581,300) 1,571,235 (10,065) Total equity 4,363,531 672,664 5,036,195 TOTAL LIABILITIES AND EQUITY $ 189,299,841 $ 4,173,277 $ 193,473,118 Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss): Three Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of Change As Currently Reported (in thousands) REVENUES Premiums $ 57,421 $ (3,097) $ 54,324 Policy charges and fee income 625,812 (227,057) 398,755 Other income (loss) (312,016) 5,377 (306,639) Realized investment gains (losses), net 714,709 (354,490) 360,219 Change in value of market risk benefits, net of related hedging gain (loss) 0 (717,469) (717,469) TOTAL REVENUES 1,349,844 (1,296,736) 53,108 BENEFITS AND EXPENSES Policyholders’ benefits 158,106 (63,657) 94,449 Change in estimates of liability for future policy benefits 0 48,647 48,647 Interest credited to policyholders’ account balances 122,944 (14,026) 108,918 Amortization of deferred policy acquisition costs 276,173 (145,284) 130,889 General, administrative and other expenses 286,447 (680) 285,767 TOTAL BENEFITS AND EXPENSES 843,670 (175,000) 668,670 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 506,174 (1,121,736) (615,562) Income tax expense (benefit) 75,774 (219,480) (143,706) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 430,400 (902,256) (471,856) NET INCOME (LOSS) $ 355,238 $ (902,256) $ (547,018) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (897,661) 14,243 (883,418) Interest rate remeasurement of future policy benefits 0 130,981 130,981 Gain (loss) from changes in non-performance risk on market risk benefits 0 887,534 887,534 Total (903,861) 1,032,758 128,897 Less: Income tax expense (benefit) related to other comprehensive income (loss) (189,054) 216,859 27,805 Other comprehensive income (loss), net of taxes (714,807) 815,899 101,092 Comprehensive income (loss) $ (359,569) $ (86,357) $ (445,926) Six Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of Change As Currently Reported (in thousands) REVENUES Premiums $ 131,666 $ (7,837) $ 123,829 Policy charges and fee income 817,374 (329,439) 487,935 Other income (loss) (639,620) 5,898 (633,722) Realized investment gains (losses), net 1,498,816 (785,316) 713,500 Change in value of market risk benefits, net of related hedging gain (loss) 0 (1,155,337) (1,155,337) TOTAL REVENUES 2,330,686 (2,272,031) 58,655 BENEFITS AND EXPENSES Policyholders’ benefits 377,870 (98,012) 279,858 Change in estimates of liability for future policy benefits 0 45,800 45,800 Interest credited to policyholders’ account balances 286,470 (65,533) 220,937 Amortization of deferred policy acquisition costs 635,720 (379,756) 255,964 General, administrative and other expenses 554,144 (1,427) 552,717 TOTAL BENEFITS AND EXPENSES 1,854,204 (498,928) 1,355,276 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 476,482 (1,773,103) (1,296,621) Income tax expense (benefit) 71,073 (413,627) (342,554) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 405,409 (1,359,476) (954,067) NET INCOME (LOSS) $ 330,251 $ (1,359,476) $ (1,029,225) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (1,913,659) 95,718 (1,817,941) Interest rate remeasurement of future policy benefits 0 249,694 249,694 Gain (loss) from changes in non-performance risk on market risk benefits 0 1,789,586 1,789,586 Total (1,921,529) 2,134,998 213,469 Less: Income tax expense (benefit) related to other comprehensive income (loss) (402,512) 448,330 45,818 Other comprehensive income (loss), net of taxes (1,519,017) 1,686,668 167,651 Comprehensive income (loss) $ (1,188,766) $ 327,192 $ (861,574) Unaudited Interim Consolidated Statements of Cash Flows: Six Months Ended June 30, 2022 IMPACTED LINES ONLY As Previously Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 330,251 $ (1,359,476) $ (1,029,225) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (104,864) 155,405 50,541 Interest credited to policyholders’ account balances 286,470 (65,533) 220,937 Realized investment (gains) losses, net (1,498,816) 785,316 (713,500) Change in value of market risk benefits, net of related hedging (gains) losses 0 1,155,337 1,155,337 Change in: Future policy benefits and other insurance liabilities 1,476,307 1,179,949 2,656,256 Reinsurance recoverables (651,569) (1,025,881) (1,677,450) Deferred policy acquisition costs 147,096 (379,988) (232,892) Income taxes (90,806) (413,617) (504,423) Other, net(1) 2,025,636 (31,512) 1,994,124 Cash flows from (used in) operating activities $ 783,018 $ 0 $ 783,018 (1) Prior period has been reclassified to conform to the current period presentation. The following tables detail the January 1, 2021 transition adjustments by providing a rollforward of the ending reported balances as of December 31, 2020 to the opening balances as of January 1, 2021 for retained earnings, accumulated other comprehensive income (“AOCI”) and the impacted insurance-related balances. January 1, 2021 Retained Earnings (in thousands) Balance after-tax, prior to transition $ 1,772,398 Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income(1) (722,837) Updates to certain universal life contract liabilities(2) (116,120) Other(3) 72,950 Total pre-tax adjustments (766,007) Tax impacts 160,861 Balance after-tax, after transition $ 1,167,252 (1) Reflects the cumulative impact of changes in the fair value of market risk benefits (“MRB”) non-performance risk (“NPR”) from the date of contract issuance to January 1, 2021. These amounts were previously recorded in retained earnings but are now reflected in AOCI under the new guidance. (2) Reflects the impact on additional insurance reserves ("AIR") and other related balances primarily related to the no-lapse guarantee features on certain universal life contracts. For additional information, see Note 2. (3) Primarily reflects the reassessment of deferred reinsurance gains ("DRG") and losses ("DRL"). January 1, 2021 Accumulated Other Comprehensive Income (in thousands) Balance after-tax, prior to transition $ 546,128 Interest rate remeasurement of future policy benefits (196,526) Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income(1) 722,837 Unwinding amounts related to unrealized investment gains and losses(2) (102,042) Change in operating joint ventures (753) Total pre-tax adjustments 423,516 Tax impacts (89,096) Balance after-tax, after transition $ 880,548 (1) Reflects the cumulative impact of changes in NPR on the fair value of market risk benefits from the date of contract issuance to January 1, 2021. These amounts were previously recorded in retained earnings but are now reflected in AOCI under the new guidance. (2) Primarily reflects amounts related to DAC and other balances as unrealized investment gains or losses no longer impact the amortization pattern of such balances under the new guidance. Also includes the impacts from updates to reserves and other related balances for certain universal life contracts. For additional information, see Note 2.
Deferred Policy Acquisition Costs	January 1, 2021 Deferred Policy Acquisition Costs Term Life Variable/Universal Life Total (in thousands) Balance prior to transition $ 462,098 $ 1,971,838 $ 2,433,936 Unwinding amounts related to unrealized investment gains and losses 0 74,702 74,702 Other(1) 1 (15,557) (15,556) Balance after transition $ 462,099 $ 2,030,983 $ 2,493,082 (1) Represents miscellaneous model refinements.
Liability for Future Policy Benefit (DRL, DRG, Benefit Reserves, DPL, and Additional Insurance Reserves)	January 1, 2021 Deferred Reinsurance Losses(1) Variable Annuities Term Life Variable/Universal Life Total (in thousands) Balance prior to transition $ 118,579 $ 87,932 $ 27,167 $ 233,678 Unwinding amounts related to unrealized investment gains and losses 14,804 0 0 14,804 Effect of change in reserve basis to market risk benefits 141,032 0 0 141,032 Effect of change in SOP 03-1 reserve basis 0 0 (27,167) (27,167) Balance after transition $ 274,415 $ 87,932 $ 0 $ 362,347 (1) Deferred reinsurance losses are included in “Other assets”. January 1, 2021 Deferred Reinsurance Gains(1) Variable/Universal Life (in thousands) Balance prior to transition $ 134,213 Effect of change in SOP 03-1 reserve basis 40,046 Balance after transition $ 174,259 (1) Deferred reinsurance gains are included in “Other liabilities”. January 1, 2021 Benefit Reserves(1) Term Life Life Insurance - Taiwan Other(2) Total (in thousands) Balance prior to transition $ 6,674,490 $ 1,592,329 $ 219,744 $ 8,486,563 Changes in cash flow assumptions and other activity (259) 43,233 (7,283) 35,691 Balance after transition, at original discount rate 6,674,231 1,635,562 212,461 8,522,254 Cumulative changes in discount rate assumptions 2,432,010 3,316,991 27,818 5,776,819 Balance after transition, at current discount rate 9,106,241 4,952,553 240,279 14,299,073 Less: Reinsurance recoverable 8,536,200 4,952,553 239,874 13,728,627 Balance after transition, net of reinsurance recoverable $ 570,041 $ 0 $ 405 $ 570,446 (1) Benefit reserves, excluding amounts for reinsurance recoverable, are included in "Future policy benefits". For additional information on the liability for future policy benefits, see Note 8. (2) Other includes fixed annuities and retirement products. January 1, 2021 Deferred Profit Liability(1) Life Insurance - Taiwan Other(2) Total (in thousands) Balance prior to transition $ 49,127 $ 1,689 $ 50,816 Changes in benefit reserves (6,671) 8,521 1,850 Balance after transition 42,456 10,210 52,666 Less: Reinsurance recoverable 42,456 10,210 52,666 Balance after transition, net of reinsurance recoverable $ 0 $ 0 $ 0 (1) Deferred profit liability ("DPL"), excluding amounts for reinsurance recoverable, is included in "Future policy benefits". For additional information regarding the liability for future policy benefits, see Note 8. (2) Other includes fixed annuities and retirement products. January 1, 2021 Additional Insurance Reserves(1) Variable/Universal Life Variable Annuities Total (in thousands) Balance prior to transition $ 9,363,585 $ 588,311 $ 9,951,896 Unwinding amounts related to unrealized investment gains and losses (1,426,811) (53,889) (1,480,700) Balance prior to transition, excluding amounts related to unrealized investment gains and losses 7,936,774 534,422 8,471,196 Reclassification of future policy benefits additional insurance reserves to market risk benefits 0 (534,422) (534,422) Updates to certain universal life contract liabilities(2) 1,771,341 0 1,771,341 Balance after transition, excluding amounts related to unrealized investment gains and losses 9,708,115 0 9,708,115 Amounts related to unrealized investment gains and losses after transition 1,169,972 0 1,169,972 Balance after transition 10,878,087 0 10,878,087 Less: Reinsurance recoverable 10,685,150 0 10,685,150 Balance after transition, net of reinsurance recoverable $ 192,937 $ 0 $ 192,937 (1) AIR, excluding amounts for reinsurance recoverable, are included in "Future policy benefits". For additional information regarding the liability for future policy benefits, see Note 8. (2) For additional information regarding updates to reserves and other related balances for certain universal life contracts, see Note 2.
Additional Liability, Long-Duration Insurance (URR and Cost of Reinsurance)	January 1, 2021 Unearned Revenue Reserves(1) Variable/Universal Life (in thousands) Balance prior to transition $ 1,377,669 Unwinding amounts related to unrealized investment gains and losses and other activity 367,599 Balance after transition 1,745,268 Less: Reinsurance recoverable 751,517 Balance after transition, net of reinsurance recoverable $ 993,751 (1) Unearned revenue reserves ("URR") are included in "Policyholders' account balances". For additional information regarding the liability for policyholders' account balances, see Note 9. January 1, 2021 Cost of Reinsurance(1) Variable/Universal Life (in thousands) Balance prior to transition $ 602,294 Unwinding amounts related to unrealized investment gains and losses (246,899) Balance prior to transition, excluding amounts related to unrealized investment gains and losses 355,395 Impact from updates to certain universal life contract liabilities(2) 81,920 Balance after transition, excluding amounts related to unrealized investment gains and losses 437,315 Amounts related to unrealized investment gains and losses after transition 191,098 Balance after transition $ 628,413 (1) Cost of reinsurance is included in "Other liabilities". (2) For additional information regarding updates to reserves and other related balances for certain universal life contracts, see Note 2.
Market Risk Benefits	January 1, 2021 Market Risk Benefits(1) Variable Annuities (in thousands) Liability for guaranteed benefits recorded at fair value, prior to transition $ 13,227,814 Additional insurance reserves to be reclassed to market risk benefits, prior to transition, excluding amounts related to unrealized investment gains and losses 534,422 Total liability prior to transition 13,762,236 Change in reserve basis to market risk benefits framework (184,693) Market risk benefits after transition, at current non-performance risk value 13,577,543 Less: Reinsured market risk benefits 13,589,575 Market risk benefits after transition, net of reinsurance $ (12,032) Market risk benefits after transition, at contract inception non-performance risk value 14,300,380 Cumulative change in non-performance risk 722,837 Market risk benefits after transition, at current non-performance risk value $ 13,577,543 (1) For additional information regarding market risk benefits, see Note 10.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Investments [Abstract]
Fixed Maturities, Available-for-sale Securities	The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: June 30, 2023 Amortized Gross Gross Allowance for Credit Losses Fair (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 392,585 $ 258 $ 68,582 $ 0 $ 324,261 Obligations of U.S. states and their political subdivisions 797,759 3,900 24,568 0 777,091 Foreign government bonds 341,979 1,229 54,900 0 288,308 U.S. public corporate securities 9,797,076 29,259 940,277 1,175 8,884,883 U.S. private corporate securities 4,659,960 12,365 340,940 3,480 4,327,905 Foreign public corporate securities 1,873,238 2,455 155,979 262 1,719,452 Foreign private corporate securities 4,521,673 38,274 520,224 0 4,039,723 Asset-backed securities(1) 1,903,744 15,309 21,487 0 1,897,566 Commercial mortgage-backed securities 858,875 49 78,819 0 780,105 Residential mortgage-backed securities(2) 410,985 1,793 10,316 6 402,456 Total fixed maturities, available-for-sale $ 25,557,874 $ 104,891 $ 2,216,092 $ 4,923 $ 23,441,750 (1) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans and credit cards. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations. December 31, 2022 Amortized Gross Gross Allowance for Credit Losses Fair (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 354,348 $ 300 $ 72,856 $ 0 $ 281,792 Obligations of U.S. states and their political subdivisions 654,884 4,275 30,959 0 628,200 Foreign government bonds 330,967 1,140 58,640 5 273,462 U.S. public corporate securities 7,414,790 21,299 992,145 0 6,443,944 U.S. private corporate securities 4,140,734 13,071 335,205 1,871 3,816,729 Foreign public corporate securities 1,539,172 2,455 163,384 21 1,378,222 Foreign private corporate securities 4,338,585 19,761 589,153 2,863 3,766,330 Asset-backed securities(1) 1,467,955 6,976 32,577 0 1,442,354 Commercial mortgage-backed securities 727,159 94 69,101 0 658,152 Residential mortgage-backed securities(2) 342,493 3,211 9,479 9 336,216 Total fixed maturities, available-for-sale $ 21,311,087 $ 72,582 $ 2,353,499 $ 4,769 $ 19,025,401 (1) Includes credit-tranched securities collateralized by loan obligations, education loans, auto loans and home equity. (2) Includes publicly-traded agency pass-through securities and collateralized mortgage obligations.
Duration Of Gross Unrealized Losses On Fixed Maturity Securities	The following tables set forth the fair value and gross unrealized losses on available-for-sale fixed maturity securities without an allowance for credit losses aggregated by investment category and length of time that individual fixed maturity securities had been in a continuous unrealized loss position, as of the dates indicated: June 30, 2023 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 100,715 $ 1,233 $ 219,681 $ 67,349 $ 320,396 $ 68,582 Obligations of U.S. states and their political subdivisions 331,330 5,382 146,894 19,186 478,224 24,568 Foreign government bonds 50,572 2,126 214,241 52,774 264,813 54,900 U.S. public corporate securities 3,983,266 112,737 3,630,814 827,449 7,614,080 940,186 U.S. private corporate securities 2,169,540 86,096 1,817,855 254,812 3,987,395 340,908 Foreign public corporate securities 751,135 12,808 816,331 142,851 1,567,466 155,659 Foreign private corporate securities 926,723 34,714 2,234,946 485,510 3,161,669 520,224 Asset-backed securities 379,540 4,023 611,043 17,464 990,583 21,487 Commercial mortgage-backed securities 314,068 13,348 456,762 65,471 770,830 78,819 Residential mortgage-backed securities 154,462 5,653 31,582 4,663 186,044 10,316 Total fixed maturities, available-for-sale $ 9,161,351 $ 278,120 $ 10,180,149 $ 1,937,529 $ 19,341,500 $ 2,215,649 December 31, 2022 Less Than Twelve Months Twelve Months or More Total Fair Value Gross Fair Value Gross Fair Value Gross (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of $ 212,991 $ 46,928 $ 62,630 $ 25,928 $ 275,621 $ 72,856 Obligations of U.S. states and their political subdivisions 307,734 16,851 61,915 14,108 369,649 30,959 Foreign government bonds 139,577 19,435 111,371 39,205 250,948 58,640 U.S. public corporate securities 3,873,275 389,937 1,979,725 602,208 5,853,000 992,145 U.S. private corporate securities 2,506,932 157,853 948,686 177,352 3,455,618 335,205 Foreign public corporate securities 548,083 40,508 596,437 122,856 1,144,520 163,364 Foreign private corporate securities 1,772,413 199,124 1,479,608 390,029 3,252,021 589,153 Asset-backed securities 625,710 15,146 289,581 17,431 915,291 32,577 Commercial mortgage-backed securities 459,186 30,408 176,349 38,693 635,535 69,101 Residential mortgage-backed securities 129,721 9,220 1,294 259 131,015 9,479 Total fixed maturities, available-for-sale $ 10,575,622 $ 925,410 $ 5,707,596 $ 1,428,069 $ 16,283,218 $ 2,353,479
Fixed Maturities Classified by Contractual Maturity Date	The following table sets forth the amortized cost and fair value of fixed maturities by contractual maturities, as of the date indicated: June 30, 2023 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 871,136 $ 851,532 Due after one year through five years 7,836,414 7,422,836 Due after five years through ten years 6,286,229 5,750,612 Due after ten years 7,390,491 6,336,643 Asset-backed securities 1,903,744 1,897,566 Commercial mortgage-backed securities 858,875 780,105 Residential mortgage-backed securities 410,985 402,456 Total fixed maturities, available-for-sale $ 25,557,874 $ 23,441,750
Sources of Fixed Maturity Proceeds, Realized Investment Gains (Losses), and Losses on Impairments	The following table sets forth the sources of fixed maturity proceeds and related investment gains (losses), as well as losses on write-downs and the allowance for credit losses of fixed maturities, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 68,308 $ 403,660 $ 128,681 $ 678,089 Proceeds from maturities/prepayments 193,205 110,426 488,333 230,787 Gross investment gains from sales and maturities 6,777 (652) 9,449 (1,358) Gross investment losses from sales and maturities (5,587) (22,461) (17,525) (41,903) Write-downs recognized in earnings(2) 4 (19,519) 7 (19,516) (Addition to) release of allowance for credit losses (1,196) 15,915 (154) (661) (1) Excludes activity from non-cash related proceeds due to the timing of trade settlements of $51.9 million and $(31.2) million for the six months ended June 30, 2023 and 2022, respectively. (2) Amounts represent write-downs of credit adverse securities and securities actively marketed for sale.
Credit Losses Recognized in Earnings on Fixed Maturity Securities Held by the Company for which a Portion of the OTTI Loss was Recognized in OCI	The following tables set forth the activity in the allowance for credit losses for fixed maturity securities, as of the dates indicated: Three Months Ended June 30, 2023 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 0 $ 3,720 $ 0 $ 0 $ 7 $ 3,727 Additions to allowance for credit losses not previously recorded 0 0 242 0 0 0 242 Reductions for securities sold during the period 0 0 (41) 0 0 0 (41) Reductions for securities with intent to sell 0 0 0 0 0 0 0 Additions (reductions) on securities with previous allowance 0 0 996 0 0 (1) 995 Balance, end of period $ 0 $ 0 $ 4,917 $ 0 $ 0 $ 6 $ 4,923 Three Months Ended June 30, 2022 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 399 $ 20,326 $ 0 $ 0 $ 0 $ 20,725 Additions to allowance for credit losses not previously recorded 0 0 2,904 0 0 0 2,904 Reductions for securities sold during the period 0 (1) (1,202) 0 0 0 (1,203) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 42 (668) 0 0 0 (626) Balance, end of period $ 0 $ 116 $ 4,694 $ 0 $ 0 $ 0 $ 4,810 Six Months Ended June 30, 2023 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 5 $ 4,755 $ 0 $ 0 $ 9 $ 4,769 Additions to allowance for credit losses not previously recorded 0 0 3,165 0 0 0 3,165 Reductions for securities sold during the period 0 (1) (3,774) 0 0 0 (3,775) Reductions for securities with intent to sell 0 0 0 0 0 0 0 Additions (reductions) on securities with previous allowance 0 (4) 771 0 0 (3) 764 Balance, end of period $ 0 $ 0 $ 4,917 $ 0 $ 0 $ 6 $ 4,923 Six Months Ended June 30, 2022 U.S. Treasury Securities and Obligations of U.S. States Foreign Government Bonds U.S. and Foreign Corporate Securities Asset-Backed Securities Commercial Mortgage-Backed Securities Residential Mortgage-Backed Securities Total (in thousands) Fixed maturities, available-for-sale: Balance, beginning of period $ 0 $ 11 $ 4,138 $ 0 $ 0 $ 0 $ 4,149 Additions to allowance for credit losses not previously recorded 0 329 12,162 0 0 0 12,491 Reductions for securities sold during the period 0 (4) (1,202) 0 0 0 (1,206) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 104 6,262 0 0 0 6,366 Balance, end of period $ 0 $ 116 $ 4,694 $ 0 $ 0 $ 0 $ 4,810
Commercial Mortgage and Other Loans	The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: June 30, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,438,086 26.6 % $ 1,289,026 26.0 % Hospitality 103,254 1.9 104,177 2.1 Industrial 2,024,002 37.5 1,766,247 35.8 Office 588,424 10.9 590,897 11.9 Other 401,375 7.4 380,121 7.7 Retail 368,990 6.8 351,457 7.1 Total commercial mortgage loans 4,924,131 91.1 4,481,925 90.6 Agricultural property loans 480,240 8.9 467,018 9.4 Total commercial mortgage and agricultural property loans 5,404,371 100.0 % 4,948,943 100.0 % Allowance for credit losses (22,093) (20,263) Total net commercial mortgage and agricultural property loans $ 5,382,278 $ 4,928,680 The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at June 30, 2023 and December 31, 2022 were as follows: Maturity Date Interest Rate June 30, 2023 December 31, 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.66 % $ 71,632 $ 72,225
Allowance for Credit Losses	The following tables set forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Three Months Ended June 30, 2023 2022 Commercial Mortgage Loans Agricultural Property Loans Total Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance, beginning of period $ 20,427 $ 983 $ 21,410 $ 6,324 $ 122 $ 6,446 Addition to (release of) allowance for expected losses 706 (23) 683 3,380 98 3,478 Allowance, end of period $ 21,133 $ 960 $ 22,093 $ 9,704 $ 220 $ 9,924 Six Months Ended June 30, 2023 2022 Commercial Mortgage Loans Agricultural Property Loans Total Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Allowance, beginning of period $ 19,665 $ 598 $ 20,263 $ 5,847 $ 104 $ 5,951 Addition to (release of) allowance for expected losses 1,468 362 1,830 3,857 116 3,973 Allowance, end of period $ 21,133 $ 960 $ 22,093 $ 9,704 $ 220 $ 9,924
Financing Receivable Credit Quality Indicators	The following tables set forth key credit quality indicators based upon the recorded investment gross of allowance for credit losses, as of the dates indicated: June 30, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 140,170 $ 229,914 $ 251,894 $ 73,420 $ 242,096 $ 1,087,395 $ 0 $ 2,024,889 60%-69.99% 157,479 384,215 722,076 171,138 184,557 354,110 0 1,973,575 70%-79.99% 168,665 168,913 280,825 111,458 81,919 42,730 0 854,510 80% or greater 0 0 0 0 3,193 67,964 0 71,157 Total $ 466,314 $ 783,042 $ 1,254,795 $ 356,016 $ 511,765 $ 1,552,199 $ 0 $ 4,924,131 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 395,531 $ 750,505 $ 1,254,795 $ 248,763 $ 469,527 $ 1,451,257 $ 0 $ 4,570,378 1.0 - 1.2x 70,783 32,537 0 11,191 23,872 14,829 0 153,212 Less than 1.0x 0 0 0 96,062 18,366 86,113 0 200,541 Total $ 466,314 $ 783,042 $ 1,254,795 $ 356,016 $ 511,765 $ 1,552,199 $ 0 $ 4,924,131 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 13,837 $ 192,505 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 411,882 60%-69.99% 12,148 56,210 0 0 0 0 0 68,358 70%-79.99% 0 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 0 Total $ 25,985 $ 248,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 480,240 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 25,985 $ 246,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 478,240 1.0 - 1.2x 0 2,000 0 0 0 0 0 2,000 Less than 1.0x 0 0 0 0 0 0 0 0 Total $ 25,985 $ 248,715 $ 132,189 $ 26,241 $ 15,927 $ 26,433 $ 4,750 $ 480,240 December 31, 2022 Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 266,453 $ 262,095 $ 63,558 $ 222,638 $ 201,087 $ 894,646 $ 1,910,477 60%-69.99% 344,110 681,996 243,800 219,593 61,757 305,175 1,856,431 70%-79.99% 166,629 304,386 47,388 66,148 2,409 53,336 640,296 80% or greater 0 0 0 3,249 0 71,472 74,721 Total $ 777,192 $ 1,248,477 $ 354,746 $ 511,628 $ 265,253 $ 1,324,629 $ 4,481,925 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 744,301 $ 1,248,477 $ 243,325 $ 452,626 $ 258,617 $ 1,203,807 $ 4,151,153 1.0 - 1.2x 32,891 0 83,655 26,558 6,636 45,742 195,482 Less than 1.0x 0 0 27,766 32,444 0 75,080 135,290 Total $ 777,192 $ 1,248,477 $ 354,746 $ 511,628 $ 265,253 $ 1,324,629 $ 4,481,925 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 208,708 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 410,808 60%-69.99% 56,210 0 0 0 0 0 56,210 70%-79.99% 0 0 0 0 0 0 0 80% or greater 0 0 0 0 0 0 0 Total $ 264,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 467,018 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 262,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 465,018 1.0 - 1.2x 2,000 0 0 0 0 0 2,000 Less than 1.0x 0 0 0 0 0 0 0 Total $ 264,918 $ 133,126 $ 25,894 $ 16,053 $ 6,327 $ 20,700 $ 467,018
Aging of Past Due Commercial Mortgage and Other Loans and Nonaccrual Status	The following tables set forth an aging of past due commercial mortgage and other loans based upon the recorded investment gross of allowance for credit losses, as well as the amount of commercial mortgage and other loans on non-accrual status, as of the dates indicated: June 30, 2023 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 4,924,131 $ 0 $ 0 $ 0 $ 4,924,131 $ 0 Agricultural property loans 480,240 0 0 0 480,240 0 Total $ 5,404,371 $ 0 $ 0 $ 0 $ 5,404,371 $ 0 (1) As of June 30, 2023, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023. December 31, 2022 Current 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due(1) Total Loans Non-Accrual Status(2) (in thousands) Commercial mortgage loans $ 4,481,925 $ 0 $ 0 $ 0 $ 4,481,925 $ 0 Agricultural property loans 465,689 0 1,329 0 467,018 0 Total $ 4,947,614 $ 0 $ 1,329 $ 0 $ 4,948,943 $ 0 (1) As of December 31, 2022, there were no loans in this category accruing interest. (2) For additional information regarding the Company’s policies for accruing interest on loans, see Note 2 to the Consolidated Financial Statements included in the Company’s restated Consolidated Financial Statements for the year ended December 31, 2022 included as Exhibit 99.1 within the Company's Current Report on Form 8-K filed on July 14, 2023.
Other Invested Assets	The following table sets forth the composition of “Other invested assets,” as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Company’s investment in separate accounts $ 410 $ 510 LPs/LLCs: Equity method: Private equity 318,342 287,969 Hedge funds 633,025 576,595 Real estate-related 92,039 107,429 Subtotal equity method 1,043,406 971,993 Fair value: Private equity 57,932 59,146 Hedge funds 253 396 Real estate-related 8,663 9,457 Subtotal fair value 66,848 68,999 Total LPs/LLCs 1,110,254 1,040,992 Derivative instruments 96,731 47,111 Total other invested assets $ 1,207,395 $ 1,088,613
Accrued Investment Income	The following table sets forth the composition of “Accrued investment income,” as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Fixed maturities $ 240,885 $ 187,628 Equity securities 220 349 Commercial mortgage and other loans 16,962 13,335 Policy loans 20,247 14,525 Other invested assets 47 48 Short-term investments and cash equivalents 5,224 3,750 Total accrued investment income $ 283,585 $ 219,635
Net Investment Income	The following table sets forth “Net investment income” by investment type, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities, available-for-sale $ 275,718 $ 121,986 $ 510,528 $ 231,177 Fixed maturities, trading 21,761 12,479 39,635 28,044 Equity securities 2,543 1,190 5,320 1,352 Commercial mortgage and other loans 56,317 22,801 104,973 45,049 Policy loans 10,622 5,153 15,618 10,219 Other invested assets 15,624 38,243 41,723 75,033 Short-term investments and cash equivalents 29,582 3,441 60,758 4,089 Gross investment income 412,167 205,293 778,555 394,963 Less: investment expenses (19,092) (13,165) (36,030) (23,535) Net investment income $ 393,075 $ 192,128 $ 742,525 $ 371,428
Realized Investment Gains (Losses), Net	The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Fixed maturities(1) $ (2) $ (26,717) $ (8,223) $ (63,438) Commercial mortgage and other loans (806) (5,756) (2,084) (6,359) Other invested assets 7,569 1,894 13,196 3,536 Derivatives(2) 600 390,746 (117,670) 779,973 Short-term investments and cash equivalents 333 52 1,796 (212) Realized investment gains (losses), net(2) $ 7,694 $ 360,219 $ (112,985) $ 713,500 (1) Includes fixed maturity securities classified as available-for-sale and excludes fixed maturity securities classified as trading. (2) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Net Unrealized Gains and (Losses) on Investments	The following table sets forth net unrealized gains (losses) on investments, as of the dates indicated: June 30, 2023 December 31, 2022 (in thousands) Fixed maturity securities, available-for-sale with an allowance $ 3,781 $ 4,371 Fixed maturity securities, available-for-sale without an allowance (2,114,982) (2,285,288) Derivatives designated as cash flow hedges(1) 99,661 138,627 Affiliated notes (12,179) (13,189) Other investments(2)(3) (1,149) (1,176) Net unrealized gains (losses) on investments $ (2,024,868) $ (2,156,655) (1) For more information on cash flow hedges, see Note 4. (2) Includes net unrealized gains (losses) on certain joint ventures that are strategic in nature and are included in "Other assets". (3) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Repurchase Agreements and Securities Lending	The following table sets forth the composition of “Cash collateral for loaned securities”, which represents the liability to return cash collateral received for the following types of securities loaned, as of the dates indicated: June 30, 2023 December 31, 2022 Remaining Contractual Maturities of the Agreements Remaining Contractual Maturities of the Agreements Overnight & Continuous Up to 30 Days Total Overnight & Continuous Up to 30 Days Total (in thousands) Foreign government bonds $ 490 $ 0 $ 490 $ 506 $ 0 $ 506 U.S. public corporate securities 11,524 0 11,524 7,903 0 7,903 Foreign public corporate securities 965 0 965 12,873 0 12,873 Equity securities 149,143 0 149,143 65,468 0 65,468 Total cash collateral for loaned securities(1) $ 162,122 $ 0 $ 162,122 $ 86,750 $ 0 $ 86,750 (1) The Company did not have any agreements with remaining contractual maturities greater than thirty days, as of the dates indicated.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account of the netting effects of master netting agreements and cash collateral. June 30, 2023 December 31, 2022 Primary Underlying Risk/Instrument Type Fair Value Fair Value Gross Notional Assets Liabilities Gross Notional Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 6,172 $ 0 $ (281) $ 3,225 $ 0 $ (316) Foreign Currency Swaps 2,005,195 184,327 (21,003) 1,933,343 233,812 (10,462) Total Derivatives Designated as Hedge Accounting Instruments $ 2,011,367 $ 184,327 $ (21,284) $ 1,936,568 $ 233,812 $ (10,778) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 225,661,110 $ 6,500,268 $ (17,340,905) $ 138,419,110 $ 6,757,890 $ (17,092,749) Interest Rate Options 23,248,000 107,941 (693,225) 8,368,000 123,168 (225,125) Interest Rate Futures 1,397,200 426 (7,675) 2,425,500 3,267 (201) Interest Rate Forwards 1,104,000 4,668 (6,719) 1,104,000 11,265 (12,359) Foreign Currency Foreign Currency Forwards 730,882 4,847 (3,563) 364,946 590 (10,423) Credit Credit Default Swaps 89,631 1,973 0 47,450 346 0 Currency/Interest Rate Foreign Currency Swaps 2,345,911 152,240 (16,276) 2,289,170 194,412 (14,624) Equity Total Return Swaps 13,186,165 255,586 (464,354) 15,958,130 120,341 (175,104) Equity Options 40,732,315 1,081,712 (1,212,176) 25,187,516 239,003 (1,112,196) Equity Futures 742,686 4,639 (773) 876,790 956 (513) Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 309,237,900 $ 8,114,300 $ (19,745,666) $ 195,040,612 $ 7,451,238 $ (18,643,294) Total Derivatives(1)(2) $ 311,249,267 $ 8,298,627 $ (19,766,950) $ 196,977,180 $ 7,685,050 $ (18,654,072) (1) Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $5,513 million and $3,502 million as of June 30, 2023 and December 31, 2022, respectively included in "Policyholders' account balances". Other assets included $218 million and $141 million as of June 30, 2023 and December 31, 2022, respectively. Other liabilities included $26 million and $10 million as of June 30, 2023 and December 31, 2022, respectively. (2) Recorded in “Other invested assets” and “Payables to parent and affiliates” on the Unaudited Interim Consolidated Statements of Financial Position.
Offsetting Of Financial Assets	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Consolidated Statements of Financial Position. June 30, 2023 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Offsetting of Financial Liabilities: Derivatives $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 December 31, 2022 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 7,685,050 $ (7,637,939) $ 47,111 $ 0 $ 47,111 Securities purchased under agreements to resell 290,000 0 290,000 (290,000) 0 Total Assets $ 7,975,050 $ (7,637,939) $ 337,111 $ (290,000) $ 47,111 Offsetting of Financial Liabilities: Derivatives $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Offsetting Of Financial Liabilities	The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Consolidated Statements of Financial Position. June 30, 2023 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Securities purchased under agreements to resell 0 0 0 0 0 Total Assets $ 8,298,627 $ (8,201,896) $ 96,731 $ 0 $ 96,731 Offsetting of Financial Liabilities: Derivatives $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 19,766,950 $ (17,405,225) $ 2,361,725 $ (2,361,725) $ 0 December 31, 2022 Gross Gross Net Amounts Financial Net (in thousands) Offsetting of Financial Assets: Derivatives $ 7,685,050 $ (7,637,939) $ 47,111 $ 0 $ 47,111 Securities purchased under agreements to resell 290,000 0 290,000 (290,000) 0 Total Assets $ 7,975,050 $ (7,637,939) $ 337,111 $ (290,000) $ 47,111 Offsetting of Financial Liabilities: Derivatives $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 18,654,072 $ (16,568,912) $ 2,085,160 $ (2,085,160) $ 0 (1) Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship. Three Months Ended June 30, 2023 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ (29) $ 0 $ (43) Currency/Interest Rate (1,944) 0 10,974 (7,027) (18,636) Total cash flow hedges (1,943) 0 10,945 (7,027) (18,679) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 63,875 (915,225) 0 0 0 Currency (5,416) 0 0 0 0 Currency/Interest Rate (23,601) 0 0 (54) 0 Credit 1,392 0 0 0 0 Equity 947,017 (398,134) 0 0 0 Embedded Derivatives (980,724) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 2,543 (1,313,359) 0 (54) 0 Total $ 600 $ (1,313,359) $ 10,945 $ (7,081) $ (18,679) Six Months Ended June 30, 2023 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ (54) $ 0 $ (2) Currency/Interest Rate 571 0 22,679 (17,453) (38,964) Total cash flow hedges 572 0 22,625 (17,453) (38,966) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 15,712 (707,165) 0 0 0 Currency (12,026) 0 0 0 0 Currency/Interest Rate (36,322) 0 0 (200) 0 Credit 2,326 0 0 0 0 Equity 1,143,892 (598,066) 0 0 0 Embedded Derivatives (1,228,711) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (115,129) (1,305,231) 0 (200) 0 Total $ (114,557) $ (1,305,231) $ 22,625 $ (17,653) $ (38,966) Three Months Ended June 30, 2022 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) (1) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 0 $ 0 $ 4 $ 0 $ (64) Currency/Interest Rate 417 0 8,717 33,483 91,734 Total cash flow hedges 417 0 8,721 33,483 91,670 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 238,950 (1,909,364) 0 0 0 Currency 15,504 0 0 0 0 Currency/Interest Rate 114,645 0 0 290 0 Credit (38,726) 0 0 0 0 Equity 1,788 931,489 0 0 0 Embedded Derivatives 58,168 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 390,329 (977,875) 0 290 0 Total $ 390,746 $ (977,875) $ 8,721 $ 33,773 $ 91,670 Six Months Ended June 30, 2022 Realized Change in Value of Market Risk Benefits, Net of Related Hedging Gain (Loss) (1) Net Other Change in AOCI (in thousands) Derivatives Designated as Hedge Accounting Instruments: Cash flow hedges Interest Rate $ 1 $ 0 $ 16 $ 0 $ (221) Currency/Interest Rate (354) 0 16,566 40,183 104,715 Total cash flow hedges (353) 0 16,582 40,183 104,494 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 483,192 (3,779,544) 0 0 0 Currency 19,801 0 0 0 0 Currency/Interest Rate 112,937 0 0 0 0 Credit (41,449) 0 0 403 0 Equity 174,900 1,149,637 0 0 0 Embedded Derivatives 30,945 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 780,326 (2,629,907) 0 403 0 Total $ 779,973 $ (2,629,907) $ 16,582 $ 40,586 $ 104,494 (1) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income (Loss) Before Taxes	Presented below is a rollforward of current period cash flow hedges in AOCI before taxes: (in thousands) Balance, December 31, 2022 $ 138,627 Amount recorded in AOCI Interest Rate (55) Currency/Interest Rate (33,167) Total amount recorded in AOCI (33,222) Amount reclassified from AOCI to income Interest Rate 53 Currency/Interest Rate (5,797) Total amount reclassified from AOCI to income (5,744) Balance, June 30, 2023 $ 99,661

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The tables below present the balances of assets and liabilities reported at fair value on a recurring basis, as of the dates indicated. June 30, 2023 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 324,261 $ 0 $ $ 324,261 Obligations of U.S. states and their political subdivisions 0 777,091 0 777,091 Foreign government bonds 0 287,607 701 288,308 U.S. corporate public securities 0 8,884,883 0 8,884,883 U.S. corporate private securities 0 3,989,251 338,654 4,327,905 Foreign corporate public securities 0 1,712,484 6,968 1,719,452 Foreign corporate private securities 0 3,664,098 375,625 4,039,723 Asset-backed securities(2) 0 1,831,879 65,687 1,897,566 Commercial mortgage-backed securities 0 699,453 80,652 780,105 Residential mortgage-backed securities 0 402,456 0 402,456 Subtotal 0 22,573,463 868,287 23,441,750 Market risk benefit assets 0 0 2,340,230 2,340,230 Fixed maturities, trading 0 2,477,679 0 2,477,679 Equity securities 145,759 190,441 43,374 379,574 Short-term investments 49,804 188,594 1,209 239,607 Cash equivalents 0 1,092,394 0 1,092,394 Other invested assets(3) 95,126 8,203,501 0 (8,201,896) 96,731 Other assets 0 0 217,613 217,613 Reinsurance recoverable 0 0 1,465 1,465 Receivables from parent and affiliates 0 145,661 0 145,661 Subtotal excluding separate account assets 290,689 34,871,733 3,472,178 (8,201,896) 30,432,704 Separate account assets(4)(5) 114,988 112,915,302 4,982 113,035,272 Total assets $ 405,677 $ 147,787,035 $ 3,477,160 $ (8,201,896) $ 143,467,976 Market risk benefit liabilities $ 0 $ 0 $ 5,089,766 $ $ 5,089,766 Policyholders' account balances 0 0 5,513,449 5,513,449 Payables to parent and affiliates 0 19,758,495 0 (17,404,023) 2,354,472 Other liabilities(6) 8,448 (25,553) 0 (1,202) (18,307) Total liabilities $ 8,448 $ 19,732,942 $ 10,603,215 $ (17,405,225) $ 12,939,380 December 31, 2022 Level 1 Level 2 Level 3 Netting(1) Total (in thousands) Fixed maturities, available-for-sale: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 0 $ 281,792 $ 0 $ $ 281,792 Obligations of U.S. states and their political subdivisions 0 628,200 0 628,200 Foreign government bonds 0 272,738 724 273,462 U.S. corporate public securities 0 6,443,944 0 6,443,944 U.S. corporate private securities 0 3,573,269 243,460 3,816,729 Foreign corporate public securities 0 1,371,354 6,868 1,378,222 Foreign corporate private securities 0 3,509,162 257,168 3,766,330 Asset-backed securities(2) 0 1,421,852 20,502 1,442,354 Commercial mortgage-backed securities 0 573,930 84,222 658,152 Residential mortgage-backed securities 0 336,216 0 336,216 Subtotal 0 18,412,457 612,944 19,025,401 Market risk benefit assets(7) 0 0 1,393,237 1,393,237 Fixed maturities, trading 0 1,936,159 0 1,936,159 Equity securities 108,076 6,403 28,593 143,072 Short-term investments 0 81,215 16,945 98,160 Cash equivalents 0 1,432,182 0 1,432,182 Other invested assets(3) 4,223 7,680,827 0 (7,637,939) 47,111 Other assets 0 0 141,041 141,041 Reinsurance recoverable 0 0 0 0 Receivables from parent and affiliates 0 148,075 0 148,075 Subtotal excluding separate account assets 112,299 29,697,318 2,192,760 (7,637,939) 24,364,438 Separate account assets(4)(5) 102,243 108,682,425 4,645 108,789,313 Total assets $ 214,542 $ 138,379,743 $ 2,197,405 $ (7,637,939) $ 133,153,751 Market risk benefit liabilities(7) $ 0 $ 0 $ 5,521,601 $ $ 5,521,601 Policyholders' account balances 0 0 3,502,096 3,502,096 Payables to parent and affiliates 0 18,653,159 0 (16,568,242) 2,084,917 Other liabilities(6) 899 (9,496) 0 (670) (9,267) Total liabilities $ 899 $ 18,643,663 $ 9,023,697 $ (16,568,912) $ 11,099,347 (1) “Netting” amounts represent cash collateral of $(9,203) million and $(8,931) million as of June 30, 2023 and December 31, 2022, respectively. (2) Includes credit-tranched securities collateralized by syndicated bank loans, sub-prime mortgages, auto loans, credit cards, education loans and other asset types. (3) Other invested assets excluded from the fair value hierarchy include certain hedge funds, private equity funds and other funds for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. As of June 30, 2023 and December 31, 2022, the fair values of such investments were $67 million and $69 million, respectively. (4) Separate account assets represent segregated funds that are invested for certain customers. Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts. Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company's Unaudited Interim Consolidated Statements of Financial Position. (5) Separate account 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, hedge funds and a corporate owned life insurance fund, for which fair value is measured at NAV per share (or its equivalent). At June 30, 2023 and December 31, 2022, the fair value of such investments were $4,805 million and $5,262 million, respectively. (6) Other liabilities includes embedded derivatives associated with reinsurance agreements. (7) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Fair Value Inputs, Assets and Liabilities, Quantitative Information	The tables below present quantitative information regarding significant internally-priced Level 3 assets and liabilities. June 30, 2023 Fair Value Valuation Unobservable Inputs Minimum Maximum Weighted Average Impact of (in thousands) Assets: Corporate securities(2) $ 599,010 Discounted cash flow Discount rate 5.82 % 20 % 9.10 % Decrease Liquidation Liquidation value 64.71 % 64.71 % 64.71 % Increase Market risk benefit assets(4) $ 2,340,230 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.57 % 2.26 % Increase Utilization rate(7) 38 % 95 % Decrease Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Increase Equity volatility curve 15 % 25 % Decrease Liabilities: Market risk benefit liabilities(4) $ 5,089,766 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.57 % 2.26 % Decrease Utilization rate(7) 38 % 95 % Increase Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Decrease Equity volatility curve 15 % 25 % Increase Policyholders' account balances(10) $ 5,513,449 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.57 % 2.32 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 27 % Increase Option budget(11) (1) % 6 % Increase December 31, 2022 Fair Value Valuation Unobservable Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 408,494 Discounted cash flow Discount rate 9.77 % 20 % 16.53 % Decrease Market Comparables EBITDA multiples(3) 2.2 X 23.5 X 8.1 X Increase Market risk benefit assets(4)(12) $ 1,393,237 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.50 % 2.20 % Increase Utilization rate(7) 38 % 95 % Decrease Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Increase Equity volatility curve 18 % 26 % Decrease Liabilities: Market risk benefit liabilities(4)(12) $ 5,521,601 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.50 % 2.20 % Decrease Utilization rate(7) 38 % 95 % Increase Withdrawal rate See table footnote (8) below. Mortality rate(9) 0 % 15 % Decrease Equity volatility curve 18 % 26 % Increase Policyholders' account balances(10) $ 3,502,096 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.22 % 2.26 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 30 % Increase Option budget(11) (2) % 6 % Increase (1) Conversely, the impact of a decrease in input would have the opposite impact on fair value as that presented in the table. (2) Includes assets classified as fixed maturities, available-for-sale. (3) Represents multiples of earnings before interest, taxes, depreciation and amortization ("EBITDA"), and are amounts used when the Company has determined that market participants would use such multiples when valuing the investments. (4) Market risk benefits primarily represent fair value for all living benefit guarantees including accommodation, withdrawal and income benefits. Since the valuation methodology for these assets and liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (5) Lapse rates for contracts with living benefit guarantees are adjusted at the contract level based on the in-the-moneyness of the living benefit and reflect other factors, such as the applicability of any surrender charges. Lapse rates are reduced when contracts are more in-the-money. Lapse rates for contracts with index-linked crediting guarantees may be adjusted at the contract level based on the applicability of any surrender charges, product type, and market related factors such as interest rates. Lapse rates are also generally assumed to be lower for the period where surrender charges apply. For any given contract, lapse rates vary throughout the period over which cash flows are projected for the purposes of valuing these embedded derivatives. (6) The spread over the Secured Overnight Financing Rate (“SOFR”) swap curve and the London Inter-Bank Offered Rate (“LIBOR”) swap curve represents the premium added to the proxy for the risk-free rate (SOFR or LIBOR, as applicable) to reflect the Company’s estimates of rates that a market participant would use to value the living benefits in both the accumulation and payout phases and index-linked interest crediting guarantees as of June 30, 2023 and December 31, 2022, respectively. This spread includes an estimate of NPR, which is the risk that the obligation will not be fulfilled by the Company. NPR is primarily estimated by utilizing the credit spreads associated with issuing funding agreements, adjusted for any illiquidity risk premium. In order to reflect the financial strength ratings of the Company, credit spreads associated with funding agreements, as opposed to credit spread associated with debt, are utilized in developing this estimate because funding agreements, living benefit guarantees, and index-linked interest crediting guarantees are insurance liabilities and are therefore senior to debt. Effective April 2023, the Company entered into an agreement with The Ohio National Life Insurance Company ("Ohio National"), an affiliate of Constellation Insurance Holdings, Inc., to reinsure approximately $10 billion of account values of PDI traditional variable annuity contracts with guaranteed living benefits. See Note 11 for additional information regarding this transaction. As a result of this transaction, a ceded MRB asset balance was established to fair value the reinsurance reimbursements to the Company. The establishment of the fair value also required an estimate of NPR for Ohio National, which may differ from that of the Company's; however, the NPR spreads for Ohio National were developed using a methodology similar to that of the Company. (7) The utilization rate assumption estimates the percentage of contracts that will utilize the benefit during the contract duration and begin lifetime withdrawals at various time intervals from contract inception. The remaining contractholders are assumed to either begin lifetime withdrawals immediately or never utilize the benefit. Utilization assumptions may vary by product type, tax status and age. The impact of changes in these assumptions is highly dependent on the product type, the age of the contractholder at the time of the sale, and the timing of the first lifetime income withdrawal. Range reflects the utilization rate for the vast majority of business with living benefits. (8) The withdrawal rate assumption estimates the magnitude of annual contractholder withdrawals relative to the maximum allowable amount under the contract. These assumptions vary based on the age of the contractholder, the tax status of the contract and the duration since the contractholder began lifetime withdrawals. As of June 30, 2023 and December 31, 2022, the minimum withdrawal rate assumption is 81% and 77%, respectively. As of June 30, 2023 and December 31, 2022, the maximum withdrawal rate assumption may be greater than 100%. The fair value of the liability will generally increase the closer the withdrawal rate is to 100% and decrease as the withdrawal rate moves further away from 100%. (9) The range reflects the mortality rates for the vast majority of business with living benefits and other contracts, with policyholders ranging from 50 to 90 years old. While the majority of living benefits have a minimum age requirement, certain other contracts do not have an age restriction. This results in contractholders with mortality rates approaching 0% for certain benefits. Mortality rates may vary by product, age, and duration. A mortality improvement assumption is also incorporated into the overall mortality table. (10) Policyholders’ account balances primarily represent general account liabilities for the index-linked interest credited on certain of the Company’s life and annuity products that are accounted for as embedded derivatives. Since the valuation methodology for these liabilities uses a range of inputs that vary at the contract level over the cash flow projection period, presenting a range, rather than weighted average, is a more meaningful representation of the unobservable inputs used in the valuation. (11) Option budget estimates the expected long-term cost of options used to hedge exposures associated with equity price and interest rate changes. The level of option budgets determines future costs of the options, which impacts the growth in account value and the valuation of embedded derivatives. (12) Amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods (excluding MRBs disclosed in Note 10). When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Three Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 714 $ (13) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (16) Corporate securities(3) 535,893 1,876 216,778 (9,241) 0 (25,418) 1,359 0 0 721,247 1,773 Structured securities(4) 228,869 436 1,291 0 0 (725) 0 0 (83,532) 146,339 484 Other assets: Fixed maturities, trading 6,250 0 0 0 0 0 0 0 (6,250) 0 0 Equity securities 43,174 19 0 0 0 0 181 0 0 43,374 19 Short-term investments 14,416 717 1,146 0 0 (13,711) (1,359) 0 0 1,209 0 Other assets 155,763 26,381 38,983 0 0 (3,514) 0 0 0 217,613 19,779 Reinsurance recoverables 1,357 108 0 0 0 0 0 0 0 1,465 108 Separate account assets 4,553 159 840 (420) 0 (150) 0 0 0 4,982 159 Liabilities: Policyholders' account balances(5) (4,129,043) (1,017,564) 0 0 (439,615) 0 72,773 0 0 (5,513,449) (150,676) Three Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,138) $ 0 $ 0 $ 3,476 $ (39) $ (1,118) $ 0 $ 0 $ 3,359 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 19 0 0 0 0 19 0 0 Short-term investments 423 0 0 (124) 418 0 0 0 0 Other assets 26,381 0 0 0 0 19,779 0 0 0 Reinsurance recoverables 108 0 0 0 0 108 0 0 0 Separate account assets 0 0 159 0 0 0 0 159 0 Liabilities: Policyholders' account balances (1,017,564) 0 0 0 0 (150,676) 0 0 0 Six Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 724 $ (23) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (28) Corporate securities(3) 507,496 7,199 310,874 (28,839) 0 (76,842) 1,359 0 0 721,247 6,413 Structured securities(4) 104,724 (3,199) 147,307 (27) 0 (1,338) 0 2,240 (103,368) 146,339 (3,129) Other assets: Fixed maturities, trading 0 0 6,250 0 0 0 0 0 (6,250) 0 0 Equity securities 28,593 (811) 0 0 0 0 15,592 0 0 43,374 (811) Short-term investments 16,945 2,573 2,688 0 0 (19,638) (1,359) 0 0 1,209 51 Other assets 141,041 8,020 73,603 0 0 (5,051) 0 0 0 217,613 2,969 Reinsurance recoverables 0 1,465 0 0 0 0 0 0 0 1,465 1,465 Separate account assets 4,645 257 840 (600) 0 (160) 0 0 0 4,982 255 Liabilities: Policyholders' account balances(5) (3,502,096) (1,247,483) 0 0 (838,238) 0 74,368 0 0 (5,513,449) (234,970) Six Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (813) $ 0 $ 0 $ 4,440 $ 350 $ (2,019) $ 0 $ 0 $ 5,275 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 (811) 0 0 0 0 (811) 0 0 Short-term investments 1,857 0 0 (73) 789 0 0 0 51 Other assets 8,020 0 0 0 0 2,969 0 0 0 Reinsurance recoverables 1,465 0 0 0 0 1,465 0 0 0 Separate account assets 0 0 257 0 0 0 0 255 0 Liabilities: Policyholders' account balances (1,247,483) 0 0 0 0 (234,970) 0 0 0 Three Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 140 $ (5) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (5) Corporate securities(3) 385,358 (12,845) 83,901 (11,217) 0 (21,195) 0 0 (106,124) 317,878 (10,577) Structured securities(4) 112,116 (10,352) 33,490 0 0 (571) 0 0 (11,395) 123,288 (10,305) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 11,463 (1,111) 10,000 (230) 0 0 9,661 0 0 29,783 (1,129) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 75,201 8,050 (6,574) 0 0 (819) 0 0 0 75,858 7,231 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,260,195) 71,103 0 0 0 (238,575) 0 0 0 (3,427,667) (341,035) Three Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,909) $ 0 $ (21,240) $ (53) $ 631 $ 0 $ (21,518) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (1,111) 0 0 0 (1,129) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 8,050 0 0 0 7,231 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances 71,103 0 0 0 (341,035) 0 0 Six Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 150 $ (15) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (15) Corporate securities(3) 385,634 (49,220) 133,311 (12,388) 0 (33,335) 0 0 (106,124) 317,878 (47,042) Structured securities(4) 173,944 (22,328) 33,490 0 0 (1,073) 0 0 (60,745) 123,288 (22,280) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 12,472 (2,120) 10,000 (230) 0 0 9,661 0 0 29,783 (2,138) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 72,937 4,337 1,241 0 0 (2,657) 0 0 0 75,858 1,679 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,245,773) (29,550) 0 0 0 (391,366) 239,022 0 0 (3,427,667) (492,251) Six Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (16,812) $ 0 $ (55,081) $ 330 $ (14,380) $ 0 $ (54,957) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (2,120) 0 0 0 (2,138) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 4,337 0 0 0 1,679 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances (29,550) 0 0 0 (492,251) 0 0 (1) "Other" includes additional activity not allocated to the specific categories within the rollforward of Level 3 Assets and Liabilities. (2) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (3) Includes U.S. corporate private, foreign corporate public, foreign corporate private securities and foreign government bonds. (4) Includes asset-backed and commercial mortgage-backed securities. (5) Issuances and settlements for Policyholders' account balances are presented net in the rollforward. (6) Effective January 1, 2021, Future policy benefits previously included in “changes in level 3 assets and liabilities” are reported in Note 10 Market Risk Benefits. (7) Excludes MRB assets of $2,340 million and $1,423 million and MRB liabilities of $5,090 million and $6,686 million for period ending June 30, 2023 and 2022, respectively. See Note 10 for additional information.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following tables describe changes in fair values of Level 3 assets and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to those assets and liabilities still held at the end of their respective periods (excluding MRBs disclosed in Note 10). When a determination is made to classify assets and liabilities within Level 3, the determination is based on significance of the unobservable inputs in the overall fair value measurement. All transfers are based on changes in the observability of the valuation inputs, including the availability of pricing service information that the Company can validate. Transfers into Level 3 are generally the result of unobservable inputs utilized within valuation methodologies and the use of indicative broker quotes for assets that were previously valued using observable inputs. Transfers out of Level 3 are generally due to the use of observable inputs in valuation methodologies as well as the availability of pricing service information for certain assets that the Company can validate. Three Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 714 $ (13) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (16) Corporate securities(3) 535,893 1,876 216,778 (9,241) 0 (25,418) 1,359 0 0 721,247 1,773 Structured securities(4) 228,869 436 1,291 0 0 (725) 0 0 (83,532) 146,339 484 Other assets: Fixed maturities, trading 6,250 0 0 0 0 0 0 0 (6,250) 0 0 Equity securities 43,174 19 0 0 0 0 181 0 0 43,374 19 Short-term investments 14,416 717 1,146 0 0 (13,711) (1,359) 0 0 1,209 0 Other assets 155,763 26,381 38,983 0 0 (3,514) 0 0 0 217,613 19,779 Reinsurance recoverables 1,357 108 0 0 0 0 0 0 0 1,465 108 Separate account assets 4,553 159 840 (420) 0 (150) 0 0 0 4,982 159 Liabilities: Policyholders' account balances(5) (4,129,043) (1,017,564) 0 0 (439,615) 0 72,773 0 0 (5,513,449) (150,676) Three Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,138) $ 0 $ 0 $ 3,476 $ (39) $ (1,118) $ 0 $ 0 $ 3,359 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 19 0 0 0 0 19 0 0 Short-term investments 423 0 0 (124) 418 0 0 0 0 Other assets 26,381 0 0 0 0 19,779 0 0 0 Reinsurance recoverables 108 0 0 0 0 108 0 0 0 Separate account assets 0 0 159 0 0 0 0 159 0 Liabilities: Policyholders' account balances (1,017,564) 0 0 0 0 (150,676) 0 0 0 Six Months Ended June 30, 2023(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 724 $ (23) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 701 $ (28) Corporate securities(3) 507,496 7,199 310,874 (28,839) 0 (76,842) 1,359 0 0 721,247 6,413 Structured securities(4) 104,724 (3,199) 147,307 (27) 0 (1,338) 0 2,240 (103,368) 146,339 (3,129) Other assets: Fixed maturities, trading 0 0 6,250 0 0 0 0 0 (6,250) 0 0 Equity securities 28,593 (811) 0 0 0 0 15,592 0 0 43,374 (811) Short-term investments 16,945 2,573 2,688 0 0 (19,638) (1,359) 0 0 1,209 51 Other assets 141,041 8,020 73,603 0 0 (5,051) 0 0 0 217,613 2,969 Reinsurance recoverables 0 1,465 0 0 0 0 0 0 0 1,465 1,465 Separate account assets 4,645 257 840 (600) 0 (160) 0 0 0 4,982 255 Liabilities: Policyholders' account balances(5) (3,502,096) (1,247,483) 0 0 (838,238) 0 74,368 0 0 (5,513,449) (234,970) Six Months Ended June 30, 2023(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Interest credited to policyholders' account balances Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (813) $ 0 $ 0 $ 4,440 $ 350 $ (2,019) $ 0 $ 0 $ 5,275 Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 Equity securities 0 (811) 0 0 0 0 (811) 0 0 Short-term investments 1,857 0 0 (73) 789 0 0 0 51 Other assets 8,020 0 0 0 0 2,969 0 0 0 Reinsurance recoverables 1,465 0 0 0 0 1,465 0 0 0 Separate account assets 0 0 257 0 0 0 0 255 0 Liabilities: Policyholders' account balances (1,247,483) 0 0 0 0 (234,970) 0 0 0 Three Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 140 $ (5) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (5) Corporate securities(3) 385,358 (12,845) 83,901 (11,217) 0 (21,195) 0 0 (106,124) 317,878 (10,577) Structured securities(4) 112,116 (10,352) 33,490 0 0 (571) 0 0 (11,395) 123,288 (10,305) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 11,463 (1,111) 10,000 (230) 0 0 9,661 0 0 29,783 (1,129) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 75,201 8,050 (6,574) 0 0 (819) 0 0 0 75,858 7,231 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,260,195) 71,103 0 0 0 (238,575) 0 0 0 (3,427,667) (341,035) Three Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (1,909) $ 0 $ (21,240) $ (53) $ 631 $ 0 $ (21,518) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (1,111) 0 0 0 (1,129) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 8,050 0 0 0 7,231 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances 71,103 0 0 0 (341,035) 0 0 Six Months Ended June 30, 2022(6)(7) Fair Value, beginning of period Total realized and unrealized gains (losses) Purchases Sales Issuances Settlements Other(1) Transfers into Level 3 Transfers out of Level 3 Fair Value, end of period Unrealized gains (losses) for assets still held(2) (in thousands) Fixed maturities, available-for-sale: Foreign government $ 150 $ (15) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 135 $ (15) Corporate securities(3) 385,634 (49,220) 133,311 (12,388) 0 (33,335) 0 0 (106,124) 317,878 (47,042) Structured securities(4) 173,944 (22,328) 33,490 0 0 (1,073) 0 0 (60,745) 123,288 (22,280) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 0 0 0 0 Equity securities 12,472 (2,120) 10,000 (230) 0 0 9,661 0 0 29,783 (2,138) Short-term investments 0 5 2,766 0 0 (54) 0 55 0 2,772 0 Other assets 72,937 4,337 1,241 0 0 (2,657) 0 0 0 75,858 1,679 Reinsurance recoverables 0 0 0 0 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances(5) (3,245,773) (29,550) 0 0 0 (391,366) 239,022 0 0 (3,427,667) (492,251) Six Months Ended June 30, 2022(6) Total realized and unrealized gains (losses) Unrealized gains (losses) for assets still held(2) Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) Net investment income Realized investment gains (losses), net Other income (loss) Included in other comprehensive income (loss) (in thousands) Fixed maturities, available-for-sale $ (16,812) $ 0 $ (55,081) $ 330 $ (14,380) $ 0 $ (54,957) Other assets: Fixed maturities, trading 0 0 0 0 0 0 0 Equity securities 0 (2,120) 0 0 0 (2,138) 0 Short-term investments 0 0 0 5 0 0 0 Other assets 4,337 0 0 0 1,679 0 0 Reinsurance recoverables 0 0 0 0 0 0 0 Separate account assets 0 0 0 0 0 0 0 Liabilities: Policyholders' account balances (29,550) 0 0 0 (492,251) 0 0 (1) "Other" includes additional activity not allocated to the specific categories within the rollforward of Level 3 Assets and Liabilities. (2) Unrealized gains or losses related to assets still held at the end of the period do not include amortization or accretion of premiums and discounts. (3) Includes U.S. corporate private, foreign corporate public, foreign corporate private securities and foreign government bonds. (4) Includes asset-backed and commercial mortgage-backed securities. (5) Issuances and settlements for Policyholders' account balances are presented net in the rollforward. (6) Effective January 1, 2021, Future policy benefits previously included in “changes in level 3 assets and liabilities” are reported in Note 10 Market Risk Benefits. (7) Excludes MRB assets of $2,340 million and $1,423 million and MRB liabilities of $5,090 million and $6,686 million for period ending June 30, 2023 and 2022, respectively. See Note 10 for additional information.
Fair Value Measurements, Nonrecurring	The following tables represent information for assets measured at fair value on a nonrecurring basis. The fair value measurement is nonrecurring as these assets are measured at fair value only when there is a triggering event (e.g., an evidence of impairment). Assets included in the table are those that were impaired during the respective reporting periods and that are still held as of the reporting date. The estimated fair values for these amounts were determined using significant unobservable inputs (Level 3). For both the three and six months ended June 30, 2023, there were no triggering events. Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) (in thousands) Equity in earnings of operating joint venture, net of taxes Investment in joint venture $ 0 $ (75,000) $ 0 $ (75,000) June 30, 2023 December 31, 2022 (in thousands) Carrying value after measurement as of period end: Investment in joint venture(1) $ 0 $ 60,456 (1) Reported carrying value includes value as of the measurement period of June 30, 2022 for "Investment in joint venture".
Fair Value Disclosure Financial Instruments Not Carried at Fair Value	The tables below present the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value. The financial instruments presented below are reported at carrying value on the Company’s Unaudited Interim Consolidated Statements of Financial Position. In some cases, as described below, the carrying amount equals or approximates fair value. June 30, 2023 Fair Value Carrying Level 1 Level 2 Level 3 Total Total (in thousands) Assets: Commercial mortgage and other loans $ 0 $ 0 $ 5,054,111 $ 5,054,111 $ 5,382,278 Policy loans 0 0 1,432,850 1,432,850 1,432,850 Short-term investments 68,756 0 0 68,756 68,756 Cash and cash equivalents 688,597 0 0 688,597 688,597 Accrued investment income 0 283,585 0 283,585 283,585 Reinsurance recoverables 0 0 23,550 23,550 25,682 Receivables from parent and affiliates 0 121,557 0 121,557 121,557 Other assets 0 54,945 1,208,442 1,263,387 1,263,387 Total assets $ 757,353 $ 460,087 $ 7,718,953 $ 8,936,393 $ 9,266,692 Liabilities: Policyholders’ account balances - investment contracts $ 0 $ 1,074,738 $ 4,147,821 $ 5,222,559 $ 5,243,834 Cash collateral for loaned securities 0 162,122 0 162,122 162,122 Short-term debt to affiliates 0 294,570 0 294,570 307,123 Long-term debt to affiliates 0 0 0 0 0 Payables to parent and affiliates 0 15,532 0 15,532 15,532 Other liabilities 0 1,673,260 32,423 1,705,683 1,705,683 Total liabilities $ 0 $ 3,220,222 $ 4,180,244 $ 7,400,466 $ 7,434,294 December 31, 2022 Fair Value Carrying Level 1 Level 2 Level 3 Total Total (in thousands) Assets: Commercial mortgage and other loans $ 0 $ 0 $ 4,602,177 $ 4,602,177 $ 4,928,680 Policy loans 0 0 505,367 505,367 505,367 Short-term investments 26,331 0 0 26,331 26,331 Cash and cash equivalents 675,445 290,000 0 965,445 965,445 Accrued investment income 0 219,635 0 219,635 219,635 Reinsurance recoverables 0 0 25,127 25,127 27,183 Receivables from parent and affiliates 0 76,846 0 76,846 76,846 Other assets 0 94,200 730,682 824,882 824,882 Total assets $ 701,776 $ 680,681 $ 5,863,353 $ 7,245,810 $ 7,574,369 Liabilities: Policyholders’ account balances - investment contracts $ 0 $ 1,192,271 $ 3,141,000 $ 4,333,271 $ 4,351,945 Cash collateral for loaned securities 0 86,750 0 86,750 86,750 Short-term debt to affiliates 0 120,325 0 120,325 126,250 Long-term debt to affiliates 0 173,905 0 173,905 185,563 Payables to parent and affiliates 0 41,654 0 41,654 41,654 Other liabilities 0 1,269,615 33,250 1,302,865 1,302,866 Total liabilities $ 0 $ 2,884,520 $ 3,174,250 $ 6,058,770 $ 6,095,028 (1) Carrying values presented herein differ from those in the Company’s Unaudited Interim Consolidated Statements of Financial Position because certain items within the respective financial statement captions are not considered financial instruments or out of scope under authoritative guidance relating to disclosures of the fair value of financial instruments.

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Charges, Insurers [Abstract]
Deferred Policy Acquisition Costs	The following tables show a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Six Months Ended June 30, 2023 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 102,251 $ 3,736,454 $ 648,837 $ 2,442,883 $ 6,930,425 Capitalization 48,552 117,342 72,216 275,783 513,893 Amortization expense (9,490) (166,332) (31,084) (59,736) (266,642) Other(1) 0 (393,385) 0 0 (393,385) Balance, end of period $ 141,313 $ 3,294,079 $ 689,969 $ 2,658,930 $ 6,784,291 (1) Other includes the impact of the reinsurance agreement with Ohio National. See Note 11 for additional information. Six Months Ended June 30, 2022 Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, beginning of period $ 84,479 $ 3,806,733 $ 577,084 $ 2,561,011 $ 7,029,307 Capitalization 3,202 155,694 66,040 264,141 489,077 Amortization expense (6,773) (171,593) (26,020) (51,578) (255,964) Other(1) 0 0 2 (541,408) (541,406) Balance, end of period $ 80,908 $ 3,790,834 $ 617,106 $ 2,232,166 $ 6,721,014 (1) Other includes the impact of the reinsurance agreement with Lotus Re.
Deferred Reinsurance Losses	The following tables show a rollforward for the lines of business that contain DRL balances, along with a reconciliation to the Company's total DRL balance: Six Months Ended June 30, 2023 Variable Annuities Term Life Total (in thousands) Balance, beginning of period $ 223,515 $ 69,378 $ 292,893 Amortization expense (15,113) (4,280) (19,393) Balance, end of period $ 208,402 $ 65,098 $ 273,500 Six Months Ended June 30, 2022 Variable Annuities Term Life Total (in thousands) Balance, beginning of period $ 254,577 $ 78,426 $ 333,003 Amortization expense (15,399) (4,596) (19,995) Balance, end of period $ 239,178 $ 73,830 $ 313,008
Deferred Insurance Gains	The following tables show a rollforward for the lines of business that contain DRG balances, along with a reconciliation to the Company's total DRG balance: Six Months Ended June 30, 2023 Fixed Annuities Variable Annuities Variable / Universal Life Total Balance, beginning of period $ 57,898 $ 0 $ 1,434,958 $ 1,492,856 Amortization (4,406) (5,209) (36,032) (45,647) Other(1) 0 277,262 0 277,262 Balance, end of period $ 53,492 $ 272,053 $ 1,398,926 $ 1,724,471 (1) Other includes the impact of the reinsurance agreement with Ohio National. See Note 11 for additional information. Six Months Ended June 30, 2022 Fixed Annuities Variable Annuities Variable / Universal Life Total Balance, beginning of period $ 78,138 $ 0 $ 174,598 $ 252,736 Amortization (3,194) 0 (43,159) (46,353) Other(1) (13,803) 0 1,340,312 1,326,509 Balance, end of period $ 61,141 $ 0 $ 1,471,751 $ 1,532,892 (1) Includes $1,352 million deferred gain related to the reinsurance agreement with Lotus Re, entered into January 1, 2022.
Deferred Sale Inducement Cost	The following table shows a rollforward of DSI balances for variable annuity products, which is the only line of business that contains a DSI balance, along with a reconciliation to the Company's total DSI balance: Six Months Ended June 30, 2023 2022 Variable Annuities (in thousands) Balance, beginning of period $ 381,504 $ 414,619 Capitalization 1,503 664 Amortization expense (16,088) (17,191) Other (3) 0 Balance, end of period $ 366,916 $ 398,092

Separate Accounts (Tables)

Separate Accounts (Tables)	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Separate Account Assets	The aggregate fair value of assets, by major investment asset category, supporting separate accounts is as follows: June 30, 2023 December 31, 2022 (in thousands) Asset Type: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 2,948 $ 2,510 U.S. corporate securities 5,038 8,702 Foreign corporate securities 1,796 1,420 Mortgage-backed securities 282 276 Mutual funds: Equity 71,084,752 67,144,660 Fixed Income 37,875,086 38,109,374 Other 3,967,348 3,441,016 Equity securities 83,396 49,260 Other invested assets 4,805,171 5,262,178 Short-term investments 1,691 1,237 Cash and cash equivalents 12,647 30,613 Total $ 117,840,155 $ 114,051,246
Separate Account Liabilities	The balances of and changes in separate account liabilities as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 91,785,448 $ 22,265,798 $ 114,051,246 Deposits 200,961 1,376,552 1,577,513 Investment performance 7,184,460 2,535,342 9,719,802 Policy charges (1,171,455) (405,108) (1,576,563) Surrenders and withdrawals (4,561,633) (214,686) (4,776,319) Benefit payments (43,056) (107,641) (150,697) Net transfers (to) from general account(1) (4,995) (1,035,554) (1,040,549) Other 5,405 30,317 35,722 Balance, end of period $ 93,395,135 $ 24,445,020 $ 117,840,155 Cash surrender value(2) $ 92,036,034 $ 21,526,262 $ 113,562,296 Six Months Ended June 30, 2022 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Deposits 392,364 1,140,622 1,532,986 Investment performance (21,112,961) (4,540,002) (25,652,963) Policy charges (1,315,427) (378,197) (1,693,624) Surrenders and withdrawals (4,594,845) (178,115) (4,772,960) Benefit payments (35,662) (134,299) (169,961) Net transfers (to) from general account (157,771) (126,364) (284,135) Other 6,241 28,707 34,948 Balance, end of period $ 97,159,563 $ 21,632,556 $ 118,792,119 Cash surrender value(2) $ 95,384,568 $ 19,001,929 $ 114,386,497 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges.

Liability For Future Policy B_2

Liability For Future Policy Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Liability for Future Policy Benefit	The balances of and changes in Benefit Reserves as of and for the periods indicated consist of the three tables presented below: Present Value of Expected Net Premiums rollforward, Present Value of Expected Future Policy Benefits rollforward, and Net Liability for Future Policy Benefits. Six Months Ended June 30, 2023 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 10,911,794 $ 0 $ 10,911,794 Effect of cumulative changes in discount rate assumptions, beginning of period 554,896 0 554,896 Balance at original discount rate, beginning of period 11,466,690 0 11,466,690 Effect of assumption update (790) 0 (790) Effect of actual variances from expected experience and other activity (65,230) (1,257) (66,487) Adjusted balance, beginning of period 11,400,670 (1,257) 11,399,413 Issuances 318,867 23,211 342,078 Net premiums / considerations collected (674,147) (21,954) (696,101) Interest accrual 261,862 0 261,862 Balance at original discount rate, end of period 11,307,252 0 11,307,252 Effect of cumulative changes in discount rate assumptions, end of period (484,287) 0 (484,287) Balance, end of period $ 10,822,965 $ 0 $ 10,822,965 Six Months Ended June 30, 2023 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 17,835,251 $ 204,727 $ 18,039,978 Effect of cumulative changes in discount rate assumptions, beginning of period 962,034 24,876 986,910 Balance at original discount rate, beginning of period 18,797,285 229,603 19,026,888 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (87,110) 4,195 (82,915) Adjusted balance, beginning of period 18,709,131 233,798 18,942,929 Issuances 318,867 23,211 342,078 Interest accrual 447,387 4,201 451,588 Benefit payments (716,919) (14,838) (731,757) Other adjustments 1,558 (33) 1,525 Balance at original discount rate, end of period 18,760,024 246,339 19,006,363 Effect of cumulative changes in discount rate assumptions, end of period (791,413) (26,245) (817,658) Balance, end of period $ 17,968,611 $ 220,094 $ 18,188,705 Other, end of period 1,941 Total balance, end of period $ 18,190,646 Six Months Ended June 30, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,145,646 $ 220,094 $ 7,365,740 Less: Reinsurance recoverable 6,614,071 17,835 6,631,906 Balance after reinsurance recoverable, end of period, post-flooring $ 531,575 $ 202,259 $ 733,834 Six Months Ended June 30, 2022 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,485,056 $ 0 $ 12,485,056 Effect of cumulative changes in discount rate assumptions, beginning of period (1,826,120) 0 (1,826,120) Balance at original discount rate, beginning of period 10,658,936 0 10,658,936 Effect of assumption update 1,295,294 0 1,295,294 Effect of actual variances from expected experience and other activity (84,412) (78) (84,490) Adjusted balance, beginning of period 11,869,818 (78) 11,869,740 Issuances 187,092 17,356 204,448 Net premiums / considerations collected (657,195) (17,278) (674,473) Interest accrual 257,706 0 257,706 Balance at original discount rate, end of period 11,657,421 0 11,657,421 Effect of cumulative changes in discount rate assumptions, end of period 22,765 0 22,765 Balance, end of period $ 11,680,186 $ 0 $ 11,680,186 Six Months Ended June 30, 2022 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 20,937,097 $ 237,065 $ 21,174,162 Effect of cumulative changes in discount rate assumptions, beginning of period (3,607,275) (16,704) (3,623,979) Balance at original discount rate, beginning of period 17,329,822 220,361 17,550,183 Effect of assumption update 1,756,995 0 1,756,995 Effect of actual variances from expected experience and other activity (167,637) 351 (167,286) Adjusted balance, beginning of period 18,919,180 220,712 19,139,892 Issuances 187,092 17,357 204,449 Interest accrual 436,119 3,809 439,928 Benefit payments (738,715) (13,658) (752,373) Other adjustments 1,781 (285) 1,496 Balance at original discount rate, end of period 18,805,457 227,935 19,033,392 Effect of cumulative changes in discount rate assumptions, end of period 144,406 (16,737) 127,669 Balance, end of period $ 18,949,863 $ 211,198 $ 19,161,061 Other, end of period 2,235 Total balance, end of period $ 19,163,296 Six Months Ended June 30, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, post-flooring $ 7,269,677 $ 211,198 $ 7,480,875 Less: Reinsurance recoverable 6,847,216 16,488 6,863,704 Balance after reinsurance recoverable, end of period, post-flooring $ 422,461 $ 194,710 $ 617,171 The following tables provide supplemental information related to the balances of and changes in Benefit Reserves included in the disaggregated tables above, on a gross (direct and assumed) basis, as of and for the periods indicated: Six Months Ended June 30, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,948,491 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,125,847 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,493,623 $ 0 Undiscounted expected future benefits and expenses $ 29,156,389 $ 328,414 Interest accrual $ 185,524 $ 4,201 Gross premiums $ 900,634 $ 24,200 Weighted-average duration of the liability in years (at original discount rate) 10 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.20 % 3.57 % Weighted-average interest rate (at current discount rate) 5.28 % 5.27 % Six Months Ended June 30, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,348,506 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,414,984 $ 0 Discounted expected future gross premiums (at current discount rate) $ 15,442,782 $ 0 Undiscounted expected future benefits and expenses $ 29,470,523 $ 302,195 Interest accrual $ 178,413 $ 3,809 Gross premiums $ 925,202 $ 19,545 Weighted-average duration of the liability in years (at original discount rate) 11 7 Weighted-average duration of the liability in years (at current discount rate) 10 6 Weighted-average interest rate (at original discount rate) 5.28 % 3.44 % Weighted-average interest rate (at current discount rate) 4.63 % 4.54 % The balances of and changes in Deferred Profit Liability as of and for the periods indicated are as follows: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 Effect of actual variances from expected experience and other activity (5,092) (607) Adjusted balance, beginning of period 13,101 15,158 Profits deferred 2,088 2,173 Interest accrual 294 276 Amortization (973) (950) Other adjustments (8) (25) Balance, end of period 14,502 16,632 Less: Reinsurance recoverable 1,558 1,722 Balance after reinsurance recoverable $ 12,944 $ 14,910 The following table provides supplemental information related to the balances of and changes in Deferred Profit Liability, included in the disaggregated table above, on a gross (direct and assumed) basis, as of and for the period indicated: Six Months Ended June 30, 2023 2022 Fixed Annuities (in thousands) Revenue(1) $ 3,691 $ (867) Interest accrual 294 276 (1) Represents the gross premiums collected in changes in deferred profit liability. The following table shows a rollforward of AIR balances for variable and universal life products for the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 Flooring impact and amounts in AOCI 1,269,237 (896,930) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,682 10,763,597 Effect of assumption update 22,910 2,197,592 Effect of actual variances from expected experience and other activity 26,204 (157,782) Adjusted balance, beginning of period 13,982,796 12,803,407 Assessments collected(1) 513,593 446,443 Interest accrual 237,869 203,986 Benefits paid (151,097) (100,856) Balance, excluding amounts in AOCI, end of period, pre-flooring 14,583,161 13,352,980 Flooring impact and amounts in AOCI (1,094,298) (859,387) Balance, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Less: Reinsurance recoverable 13,268,534 12,282,253 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 220,329 $ 211,340 (1) Represents the portion of gross assessments required to fund the future policy benefits. Six Months Ended June 30, 2023 2022 ($ in thousands) Interest accrual $ 237,869 $ 203,986 Gross assessments $ 785,370 $ 627,513 Weighted-average duration of the liability in years (at original discount rate) 22 23 Weighted-average interest rate (at original discount rate) 3.39 % 3.72 % The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Unaudited Interim Consolidated Statements of Financial Position as of the periods indicated: Six Months Ended June 30, 2023 2022 (in thousands) Benefit reserves, end of period, post-flooring $ 7,365,740 $ 7,480,875 Deferred profit liability, end of period, post-flooring 14,502 16,632 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 13,488,863 12,493,593 Subtotal of amounts disclosed above 20,869,105 19,991,100 Other Future policy benefits reserves(1) 1,108,889 1,035,166 Total Future policy benefits $ 21,977,994 $ 21,026,266 (1) Represents balances for which disaggregated rollforward disclosures are not required, including unpaid claims and claims expenses, and incurred but not reported and in course of settlement claim liabilities. The following tables present revenue and interest expense related to Benefit Reserves, Additional Insurance Reserves, and Deferred Profit Liability, as well as related revenue and interest expense not presented in the above supplemental tables, in the Company's Consolidated Statement of Operations for the periods indicated: Six Months Ended June 30, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 900,634 $ 0 $ 24,200 $ 924,834 Deferred profit liability 0 0 3,691 3,691 Additional insurance reserves 0 785,370 0 785,370 Total $ 900,634 $ 785,370 $ 27,891 $ 1,713,895 Six Months Ended June 30, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 925,202 $ 0 $ 19,545 $ 944,747 Deferred profit liability 0 0 (867) (867) Additional insurance reserves 0 627,513 0 627,513 Total $ 925,202 $ 627,513 $ 18,678 $ 1,571,393 (1) Represents "Gross premiums" for benefit reserves; "Revenue" for deferred profit liability and "Gross assessments" for additional insurance reserves. Six Months Ended June 30, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 185,524 $ 0 $ 4,201 $ 189,725 Deferred profit liability 0 0 294 294 Additional insurance reserves 0 237,869 0 237,869 Total $ 185,524 $ 237,869 $ 4,495 $ 427,888 Six Months Ended June 30, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 178,413 $ 0 $ 3,809 $ 182,222 Deferred profit liability 0 0 276 276 Additional insurance reserves 0 203,986 0 203,986 Total $ 178,413 $ 203,986 $ 4,085 $ 386,484

Policyholders' Liabilities (Tab

Policyholders' Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Abstract]
Policyholder Account Balance	The balance of and changes in policyholders' account balances as of and for the periods ended are as follows: Six Months Ended June 30, 2023 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 16,432,032 $ 18,736,365 $ 35,168,397 Deposits 2,225,558 1,030,843 3,256,401 Interest credited 131,119 278,886 410,005 Policy charges (10,684) (903,228) (913,912) Surrenders and withdrawals (233,470) (400,194) (633,664) Benefit payments (15,067) (42,131) (57,198) Net transfers (to) from separate account(1) 4,995 1,035,554 1,040,549 Change in market value and other adjustments(2) 954,563 139,608 1,094,171 Balance, end of period 19,489,046 19,875,703 39,364,749 Less: Reinsurance and other recoverables(3) 418,986 12,872,063 13,291,049 Policyholders' account balance net of reinsurance and other recoverables $ 19,070,060 $ 7,003,640 $ 26,073,700 Unearned revenue reserve 3,401,994 Other(4) 4,841,412 Total Policyholders' account balance $ 47,608,155 Weighted-average crediting rate 1.46 % 2.89 % 2.20 % Net amount at risk(5) $ 0 $ 313,218,977 $ 313,218,977 Cash surrender value(6) $ 17,391,104 $ 18,341,323 $ 35,732,427 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 14 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (4) Includes $4,740 million of fixed annuities account balances. (5) The net amount at risk calculation includes both general and separate account balances. (6) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges. Six Months Ended June 30, 2022 Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 11,465,411 $ 18,762,548 $ 30,227,959 Deposits 2,709,044 1,085,659 3,794,703 Interest credited 31,825 290,089 321,914 Policy charges (1,003) (896,223) (897,226) Surrenders and withdrawals (113,369) (433,915) (547,284) Benefit payments (20,563) (54,384) (74,947) Net transfers (to) from separate account 157,771 126,364 284,135 Change in market value and other adjustments(1) 517,047 (232,805) 284,242 Balance, end of period 14,746,163 18,647,333 33,393,496 Less: Reinsurance and other recoverables(2) 334,311 12,954,996 13,289,307 Policyholders' account balance net of reinsurance and other recoverables $ 14,411,852 $ 5,692,337 $ 20,104,189 Unearned revenue reserve 2,729,057 Other(3) 3,081,856 Total Policyholders' account balance $ 39,204,409 Weighted-average crediting rate 0.49 % 3.10 % 2.02 % Net amount at risk(4) $ 0 $ 295,739,871 $ 295,739,871 Cash surrender value(5) $ 11,912,977 $ 17,028,535 $ 28,941,512 (1) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. (2) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (3) Includes $2,983 million of fixed annuities account balances. (4) The net amount at risk calculation includes both general and separate account balances. (5) Represents the amount of the contractholder's account balances distributable at the balance sheet date less certain surrender charges.
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums are as follows: June 30, 2023 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 -50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 972,976 $ 833,696 $ 18,454 $ 2 $ 1,825,128 1.00% - 1.99% 229,049 2,126 1,094 0 232,269 2.00% - 2.99% 24,531 4,090 0 0 28,621 3.00% - 4.00% 990,408 2,859 0 0 993,267 Greater than 4.00% 2,091 0 0 0 2,091 Total $ 2,219,055 $ 842,771 $ 19,548 $ 2 $ 3,081,376 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 9,078 $ 9,078 1.00% - 1.99% 163,616 0 2,706,552 363,119 3,233,287 2.00% - 2.99% 21,001 1,399,691 2,765,577 267,001 4,453,270 3.00% - 4.00% 4,555,992 1,985,262 1,110,457 0 7,651,711 Greater than 4.00% 2,159,217 0 0 0 2,159,217 Total $ 6,899,826 $ 3,384,953 $ 6,582,586 $ 639,198 $ 17,506,563 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. June 30, 2022 Range of Guaranteed Minimum Crediting Rate(1) At guaranteed minimum 1 - 50 bps above guaranteed minimum 51 -150 bps above guaranteed minimum Greater than 150 bps above guaranteed minimum Total (in thousands) Variable Annuities Less than 1.00% $ 1,050,808 $ 877,536 $ 18,943 $ 2 $ 1,947,289 1.00% - 1.99% 251,989 1,682 0 0 253,671 2.00% - 2.99% 30,850 63 0 0 30,913 3.00% - 4.00% 1,127,302 0 0 0 1,127,302 Greater than 4.00% 2,146 0 0 0 2,146 Total $ 2,463,095 $ 879,281 $ 18,943 $ 2 $ 3,361,321 Variable Life / Universal Life Less than 1.00% $ 16,033 $ 0 $ 0 $ 0 $ 16,033 1.00% - 1.99% 340,859 0 694,771 1,978,385 3,014,015 2.00% - 2.99% 8,519 0 2,259,847 2,099,855 4,368,221 3.00% - 4.00% 4,625,968 11,776 2,308,532 138,389 7,084,665 Greater than 4.00% 2,094,298 0 0 0 2,094,298 Total $ 7,085,677 $ 11,776 $ 5,263,150 $ 4,216,629 $ 16,577,232 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options.
Additional Liability, Long-Duration Insurance	: Six Months Ended June 30, 2023 2022 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 Unearned revenue 405,732 393,675 Amortization expense (70,981) (63,472) Other adjustments (93) 66 Balance, end of period 3,401,994 2,729,057 Less: Reinsurance recoverables 1,621,229 1,450,592 Unearned revenue reserve net of reinsurance recoverables $ 1,780,765 $ 1,278,465

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Insurance [Abstract]
Market Risk Benefits	The following tables show a rollforward of MRB balances for variable annuity products, along with a reconciliation to the Company’s total net MRB positions as of the following dates: Six Months Ended June 30, 2023 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 4,550,625 $ (422,261) $ 4,128,364 Effect of cumulative changes in non-performance risk 1,727,910 0 1,727,910 Balance, beginning of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Attributed fees collected 587,663 (107,425) 480,238 Claims paid (43,782) 3,681 (40,101) Interest accrual 160,106 (20,505) 139,601 Actual in force different from expected 36,193 (6,069) 30,124 Effect of changes in interest rates (671,989) 169,229 (502,760) Effect of changes in equity markets (1,314,461) 127,157 (1,187,304) Effect of assumption update 330,769 (54,067) 276,702 Issuances 11,403 9,025 20,428 Other adjustments(1) (17,436) (638,198) (655,634) Effect of changes in current period counterparty non-performance risk 0 (7,445) (7,445) Balance, end of period, before effect of changes in non-performance risk 5,357,001 (946,878) 4,410,123 Effect of cumulative changes in non-performance risk (1,660,587) 0 (1,660,587) Balance, end of period $ 3,696,414 $ (946,878) $ 2,749,536 Six Months Ended June 30, 2022 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 8,884,362 $ (906,484) $ 7,977,878 Effect of cumulative changes in non-performance risk 287,605 0 287,605 Balance, beginning of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Attributed fees collected 659,743 (77,427) 582,316 Claims paid (16,431) 318 (16,113) Interest accrual 26,589 (2,564) 24,025 Actual in force different from expected 44,344 (4,746) 39,598 Effect of changes in interest rates (5,067,986) 527,662 (4,540,324) Effect of changes in equity markets 3,238,166 (339,149) 2,899,017 Effect of assumption update (160,596) 23,170 (137,426) Effect of changes in current period counterparty non-performance risk 0 223,753 223,753 Balance, end of period, before effect of changes in non-performance risk 7,895,796 (555,467) 7,340,329 Effect of cumulative changes in non-performance risk (2,077,191) 0 (2,077,191) Balance, end of period $ 5,818,605 $ (555,467) $ 5,263,138 (1) Other adjustments for June 30, 2023 primarily includes $638 million related to the reinsurance transaction with Ohio National. See Note 11 for additional information. The following table presents accompanying information to the rollforward table above. June 30, 2023 June 30, 2022 Variable Annuities ($ in thousands) Net amount at risk(1) $ 10,067,522 $ 10,510,747 Weighted-average attained age of contractholders 69 68 (1) For contracts with multiple benefit features, the highest net amount at risk for each contract is included. The table below reconciles MRB asset and liability positions as of the following dates: June 30, 2023 June 30, 2022 Variable Annuities (in thousands) Market risk benefit assets $ 2,340,230 $ 1,422,757 Market risk benefit liabilities 5,089,766 6,685,895 Net liability $ 2,749,536 $ 5,263,138

Reinsurance (Tables)

Reinsurance (Tables)	6 Months Ended
	Jun. 30, 2023
Reinsurance Disclosures [Abstract]
Reinsurance Impact on Statements of Financial Position	Reinsurance amounts included in the Company’s Unaudited Interim Consolidated Statements of Financial Position as of June 30, 2023 and December 31, 2022 were as follows: June 30, 2023 December 31, 2022 (in thousands) Reinsurance recoverables(1) $ 37,667,480 $ 37,096,562 Policy loans (1,054,894) (1,011,112) Deferred policy acquisition costs(1) (3,270,979) (3,343,270) Deferred sales inducements(1) (36,745) (38,146) Market risk benefit assets(1) 1,174,612 543,177 Other assets(1) 1,648,435 1,146,794 Policyholders’ account balances(1) 6,245,990 7,157,639 Future policy benefits(1) 6,747,348 6,320,863 Market risk benefit liabilities(1) 230,773 120,916 Other liabilities(1) 3,793,074 2,891,433 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Unaffiliated reinsurance amounts included in the table above and in the Company's Unaudited Interim Consolidated Statements of Financial Position were as follows: June 30, 2023 December 31, 2022 (in thousands) Deferred policy acquisition costs(1) $ 84,646 $ 111,379 Market risk benefit assets(1) 752,567 64,738 Other assets 1,540,310 1,034,000 Policyholders’ account balances(1) 1,986,974 2,771,961 Future policy benefits 315 0 Market risk benefit liabilities(1) 118,963 40,731 Other liabilities 1,656,479 820,185 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Reinsurance Recoverable by Counterparty	Reinsurance recoverables by counterparty are broken out below: June 30, 2023 December 31, 2022(1) (in thousands) PAR U $ 15,418,859 $ 15,051,337 PURC 7,228,567 6,928,950 PARCC 2,360,934 2,437,589 GUL Re 3,133,194 3,124,697 PAR Term 2,008,158 2,040,599 Prudential Insurance 1,121,635 986,013 Term Re 1,938,351 1,830,197 Lotus Re 2,007,253 1,952,215 DART 670,394 578,462 Unaffiliated 1,780,135 2,166,503 Total reinsurance recoverables $ 37,667,480 $ 37,096,562 (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Reinsurance Impact on Statements of Operations and Comprehensive Income (Loss)	Reinsurance amounts, included in the Company’s Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in thousands) Premiums: Direct(1) $ 476,472 $ 470,923 $ 938,539 $ 944,344 Assumed 34 (9,474) (122) (8,077) Ceded(1) (386,541) (407,125) (771,796) (812,438) Net premiums(1) 89,965 54,324 166,621 123,829 Policy charges and fee income: Direct(1) 749,037 757,637 1,484,975 1,548,536 Assumed(1) 148,479 158,744 301,079 305,550 Ceded(1) (533,980) (517,626) (1,036,027) (1,366,151) Net policy charges and fee income(1) 363,536 398,755 750,027 487,935 Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Net investment income: Direct 402,761 195,480 753,084 390,991 Assumed 343 365 686 818 Ceded (10,029) (3,717) (11,245) (20,381) Net investment income 393,075 192,128 742,525 371,428 Asset administration fees: Direct 80,952 88,655 161,308 186,112 Assumed 0 0 0 0 Ceded (24,164) (16,865) (40,318) (35,090) Net asset administration fees 56,788 71,790 120,990 151,022 Other income (loss): Direct 79,657 (325,563) 305,391 (674,251) Assumed (56) (2,548) (349) (2,509) Ceded(1) 25,857 21,472 45,263 43,038 Net Other income (loss)(1) 105,458 (306,639) 350,305 (633,722) Realized investment gains (losses), net: Direct(1) (88,715) 614,376 (334,638) 1,125,198 Assumed(1) 82,278 (281,646) 220,944 (485,630) Ceded(1) 14,131 27,489 709 73,932 Realized investment gains (losses), net(1) 7,694 360,219 (112,985) 713,500 Change in value of market risk benefits, net of related hedging gain (loss): Direct(1) 174,084 (556,282) 207,204 (727,637) Assumed(1) 2,774 0 (3,443) 0 Ceded(1) (215,745) (161,187) (222,446) (427,700) Net change in value of market risk benefits, net of related hedging gain (loss)(1) (38,887) (717,469) (18,685) (1,155,337) Policyholders’ benefits (including change in reserves): Direct(1) 848,495 726,165 1,727,280 1,580,324 Assumed(1) 332,048 326,171 649,335 579,208 Ceded(1) (1,033,582) (957,887) (2,124,472) (1,879,674) Net policyholders’ benefits (including change in reserves)(1) 146,961 94,449 252,143 279,858 Change in estimates of liability for future policy benefits: Direct(1) 31,146 1,828,707 (17,355) 1,818,725 Assumed(1) 23,844 707,485 25,651 689,394 Ceded(1) (56,123) (2,487,545) (13,831) (2,462,319) Net change in estimates of liability for future policy benefits(1) (1,133) 48,647 (5,535) 45,800 Interest credited to policyholders’ account balances: Direct(1) 215,973 188,115 438,548 333,985 Assumed 27,957 29,601 66,463 102,103 Ceded(1) (100,114) (108,798) (200,973) (215,151) Net interest credited to policyholders’ account balances(1) 143,816 108,918 304,038 220,937 Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(1) (105,195) (101,295) (223,025) (218,652) (1) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Unaffiliated reinsurance assumed and ceded amounts included in the table above and in the Company's Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022(1) 2023 2022(1) (in thousands) Premiums: Assumed(2) $ 34 $ (13,448) $ (132) $ (13,408) Ceded(2) (16,802) (11,048) (33,377) (22,570) Policy charges and fee income: Assumed 383 11,421 923 11,421 Ceded (38,338) (19,959) (62,276) (38,257) Net investment income: Ceded 1,993 8,650 12,913 4,317 Asset administration fees: Ceded (7,740) 0 (7,740) 0 Other income (loss): Assumed 55 (2,549) (238) (2,510) Ceded 8,031 0 9,653 0 Realized investment gains (losses), net: Assumed 82,278 (281,645) 220,944 (281,645) Ceded(2) 13,952 26,826 (629) 72,776 Change in value of market risk benefits, net of related hedging gain (loss): Assumed(2) 2,774 0 (3,443) 0 Ceded(2) (75,325) (35,629) (80,098) (86,502) Policyholders’ benefits (including change in reserves): Assumed 189 1,245 280 1,354 Ceded(2) (36,118) (24,551) (63,820) (43,042) Change in estimates of liability for future policy benefits: Ceded (416) (6,594) (416) (6,594) Interest credited to policyholders’ account balances: Assumed (2,370) (2,781) 5,099 (2,781) Ceded (85) 0 (85) 0 (1) Prior period has been reclassified to conform to the current period presentation (2) Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Gross and Net Life Insurance in Force	The gross and net amounts of life insurance face amount in force as of June 30, 2023 and 2022 were as follows: 2023 2022 (in thousands) Direct gross life insurance face amount in force $ 1,107,571,392 $ 1,086,899,612 Assumed gross life insurance face amount in force 36,059,164 37,151,725 Reinsurance ceded (1,015,213,859) (1,012,351,998) Net life insurance face amount in force $ 128,416,697 $ 111,699,339

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	The balance of and changes in each component of AOCI as of and for the six months ended June 30, 2023 and 2022, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Interest Rate Remeasurement of Future Policy Benefits Gain (loss) from Changes in Non-Performance Risk on Market Risk Benefits Total Accumulated (in thousands) Balance, December 31, 2022 $ (20,007) $ (1,474,475) $ 119,368 $ 1,365,049 $ (10,065) Change in OCI before reclassifications 3,266 116,395 (17,588) (67,323) 34,750 Amounts reclassified from AOCI 0 2,479 0 0 2,479 Income tax benefit (expense) (363) (24,884) 3,693 14,138 (7,416) Balance, June 30, 2023 $ (17,104) $ (1,380,485) $ 105,473 $ 1,311,864 $ 19,748 Accumulated Other Comprehensive Income (Loss) Foreign Net Unrealized Interest Rate Remeasurement of Future Policy Benefits Gain (loss) from Changes in Non-Performance Risk on Market Risk Benefits Total Accumulated (in thousands) Balance, December 31, 2021 $ (11,274) $ 306,331 $ (125,809) $ 227,206 $ 396,454 Change in OCI before reclassifications (7,870) (1,824,967) 249,694 1,789,586 206,443 Amounts reclassified from AOCI 0 7,026 0 0 7,026 Income tax benefit (expense) 735 381,696 (52,436) (375,813) (45,818) Balance, June 30, 2022 $ (18,409) $ (1,129,914) $ 71,449 $ 1,640,979 $ 564,105 (1) Includes cash flow hedges of $100 million and $40 million as of June 30, 2023 and December 31, 2022, respectively, and $144 million and $40 million as of June 30, 2022 and December 31, 2021, respectively .
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of Accumulated Other Comprehensive Income (Loss) Three Months Ended Six Months Ended 2023 2022 2023 2022 (in thousands) Amounts reclassified from AOCI(1)(2): Net unrealized investment gains (losses): Cash flow hedges - Currency/Interest rate(3) $ 1,974 $ 42,622 $ 5,744 $ 56,412 Net unrealized investment gains (losses) on available-for-sale securities (2) (26,717) (8,223) (63,438) Total net unrealized investment gains (losses)(4) 1,972 15,905 (2,479) (7,026) Total reclassifications for the period $ 1,972 $ 15,905 $ (2,479) $ (7,026) (1) All amounts are shown before tax. (2) Positive amounts indicate gains/benefits reclassified out of AOCI. Negative amounts indicate losses/costs reclassified out of AOCI. (3) See Note 4 for additional information on cash flow hedges. (4) See table below for additional information on unrealized investment gains (losses), including the impact on DAC and other costs, future policy benefits, policyholders’ account balances and other liabilities.
Net Unrealized Investment Gains (Losses) on AFS Fixed Maturity Securities wit Allowance for credit losses and All Other Investments AOCI Rollforward	The amounts for the periods indicated below, split between amounts related to net unrealized investment gains (losses) on available-for-sale fixed maturity securities on which an allowance for credit losses has been recognized, and all other net unrealized investment gains (losses), are as follows: Net Unrealized Gains (Losses) on Investments on Available-for-Sale Fixed Maturity Securities on Which an Allowance for Credit Losses has been Recognized Net Unrealized Other Costs(2) Future Policy Benefits, Policyholders' Account Balances and Other Liabilities(3) Income Tax Accumulated (in thousands) Balance, December 31, 2022 $ 4,371 $ (2,161,026) $ (1,198,422) $ 1,488,679 $ 391,923 $ (1,474,475) Net investment gains (losses) on investments arising during the period (2,751) 132,059 0 0 (27,076) 102,232 Reclassification adjustment for (gains) losses included in net income (201) 2,680 0 0 (519) 1,960 Reclassification due to allowance for credit losses recorded during the period 2,362 (2,362) 0 0 0 0 Impact of net unrealized investment (gains) losses 0 0 155,245 (168,158) 2,711 (10,202) Balance, June 30, 2023 $ 3,781 $ (2,028,649) $ (1,043,177) $ 1,320,521 $ 367,039 $ (1,380,485) (1) Includes cash flow hedges. See Note 4 for information on cash flow hedges. (2) "Other costs" primarily includes reinsurance recoverables and deferred reinsurance losses.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Affiliated Notes Receivable	Affiliated notes receivable included in “Receivables from parent and affiliates” at June 30, 2023 and December 31, 2022 were as follows: Maturity Dates Interest Rates June 30, 2023 December 31, 2022 (in thousands) U.S. dollar fixed rate notes 2025 - 2027 0.00% - 14.85 % $ 145,661 $ 148,076 Total notes receivable - affiliated(1) $ 145,661 $ 148,076 (1) All notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances.
Affiliated Commercial Mortgage Loan	The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated: June 30, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,438,086 26.6 % $ 1,289,026 26.0 % Hospitality 103,254 1.9 104,177 2.1 Industrial 2,024,002 37.5 1,766,247 35.8 Office 588,424 10.9 590,897 11.9 Other 401,375 7.4 380,121 7.7 Retail 368,990 6.8 351,457 7.1 Total commercial mortgage loans 4,924,131 91.1 4,481,925 90.6 Agricultural property loans 480,240 8.9 467,018 9.4 Total commercial mortgage and agricultural property loans 5,404,371 100.0 % 4,948,943 100.0 % Allowance for credit losses (22,093) (20,263) Total net commercial mortgage and agricultural property loans $ 5,382,278 $ 4,928,680 The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at June 30, 2023 and December 31, 2022 were as follows: Maturity Date Interest Rate June 30, 2023 December 31, 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.66 % $ 71,632 $ 72,225
Affiliated Asset Transfers	The table below shows affiliated asset trades for the six months ended June 30, 2023 and for the year ended December 31, 2022. Affiliate Date Transaction Security Type Fair Value Book Value APIC, Net of Tax Increase/(Decrease) Realized (in thousands) PALAC January 2022 Purchase Fixed Maturities $ 4,432 $ 4,432 $ 0 $ 0 PALAC January 2022 Purchase Derivatives $ 404 $ 404 $ 0 $ 0 PALAC February 2022 Purchase Fixed Maturities $ 128,909 $ 128,909 $ 0 $ 0 PAR U April 2022 Purchase Fixed Maturities $ 48,970 $ 48,970 $ 0 $ 0 Prudential Insurance May 2022 Purchase Fixed Maturities $ 233,426 $ 241,128 $ 6,085 $ 0 Prudential Insurance June 2022 Purchase Fixed Maturities $ 88,754 $ 81,216 $ (5,955) $ 0 Prudential Insurance June 2022 Transfer In Fixed Maturities $ 52,089 $ 45,031 $ (5,577) $ 0 Prudential Insurance June 2022 Transfer Out Fixed Maturities $ 48,786 $ 58,984 $ (8,057) $ 0 PAR U June 2022 Purchase Commercial Mortgage and Other Loans $ 6,492 $ 6,492 $ 0 $ 0 PAR U June 2022 Sale Commercial Mortgage and Other Loans $ 14,853 $ 15,725 $ 0 $ (872) GUL Re June 2022 Purchase Commercial Mortgage and Other Loans $ 13,551 $ 13,551 $ 0 $ 0 GUL Re June 2022 Sale Commercial Mortgage and Other Loans $ 8,692 $ 9,033 $ 0 $ (341) PURC June 2022 Purchase Commercial Mortgage and Other Loans $ 4,403 $ 4,403 $ 0 $ 0 Prudential Insurance July 2022 Transfer In Fixed Maturities $ 6,319 $ 7,230 $ 719 $ 0 PAR U July 2022 Purchase Fixed Maturities $ 16,284 $ 16,284 $ 0 $ 0 Prudential Insurance August 2022 Purchase Fixed Maturities $ 155,823 $ 139,712 $ (12,728) $ 0 Vantage Casualty Insurance Co September 2022 Purchase Fixed Maturities $ 3,497 $ 3,497 $ 0 $ 0 WH Warehouse Ltd October 2022 Sale Fixed Maturities $ 26,536 $ 26,388 $ 0 $ 148 PAR U November 2022 Purchase Fixed Maturities $ 91,051 $ 91,051 $ 0 $ 0 Prudential Insurance December 2022 Purchase Fixed Maturities $ 67,477 $ 71,369 $ 3,075 $ 0 Prudential Insurance January 2023 Purchase Fixed Maturities $ 48,329 $ 50,372 $ 1,614 $ 0 Prudential Insurance March 2023 Purchase Fixed Maturities $ 7,175 $ 7,500 $ 256 $ 0 PURC April 2023 Purchase Fixed Maturities $ 102,804 $ 102,804 $ 0 $ 0 Term Re June 2023 Purchase Fixed Maturities $ 115,573 $ 115,573 $ 0 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 4,298 $ 4,443 $ 114 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 4,394 $ 4,494 $ 80 $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 19,453 $ 19,203 $ (198) $ 0 Prudential Insurance June 2023 Purchase Fixed Maturities $ 14,452 $ 15,086 $ 502 $ 0
Debt Agreements	The following table provides the breakout of the Company's short-term and long-term debt to affiliates as of June 30, 2023 and December 31, 2022: Affiliate Date Amount of Notes - June 30, 2023 Amount of Notes - December 31, 2022 Interest Rate Date of Maturity (in thousands) Prudential Insurance 8/13/2021 $ 95,103 $ 96,666 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 28,531 29,000 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 96,313 97,665 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 38,525 39,066 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 48,156 48,832 3.95 % 6/20/2024 Prudential Funding LLC 12/28/2022 0 138 4.73 % 1/31/2023 Prudential Funding LLC 12/29/2022 0 62 4.73 % 1/31/2023 Prudential Funding LLC 12/30/2022 0 384 4.73 % 1/31/2023 Prudential Funding LLC 6/26/2023 109 0 5.57 % 7/27/2023 Prudential Funding LLC 6/27/2023 132 0 5.57 % 7/27/2023 Prudential Funding LLC 6/28/2023 167 0 5.56 % 7/27/2023 Prudential Funding LLC 6/30/2023 12 0 5.47 % 7/27/2023 Prudential Funding LLC 6/30/2023 75 0 5.45 % 7/3/2023 Total Loans Payable to Affiliates $ 307,123 $ 311,813

Business and Basis of Present_3

Business and Basis of Presentation (Narrative) (Details)	6 Months Ended
	Jun. 30, 2023 subsidiary
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number Of Subsidiaries	1
Adoption of ASU 2018-12 for LDTI	Accounting Standards Update 2018-12 [Member]

Business and Basis of Present_4

Business and Basis of Presentation (Summary Of Adoption Of New Guidance On Unaudited Interim Consolidated Statement For Financial Position) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs	$ 6,784,291		$ 6,930,425	[1]	$ 6,721,014	$ 7,029,307	$ 2,493,082
Reinsurance recoverables	37,667,480		37,096,562	[1]
Deferred sales inducements	366,916		381,504	[1]
Income tax assets	1,818,014		1,694,751	[1]
Market risk benefits assets	2,340,230		1,393,237	[1]	1,423,000
Other assets	1,787,731		1,331,427	[1]
TOTAL ASSETS	205,566,500		193,473,118
Policyholders’ account balances	47,608,155		41,912,536	[1]	39,204,409
Future policy benefits	21,977,994		20,829,033	[1]	21,026,266
Market risk benefit liabilities	5,089,766		5,521,601	[1]	$ 6,686,000
Other liabilities	4,540,528		3,597,373	[1]
Total liabilities	199,895,847		188,436,923
Retained earnings / (accumulated deficit)	(496,877)		(994,154)	[1]
Accumulated other comprehensive income (loss)	19,748		(10,065)	[1]
Total equity	5,670,653		5,036,195
TOTAL LIABILITIES AND EQUITY	$ 205,566,500		193,473,118
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs			6,616,097					$ 2,433,936
Reinsurance recoverables			34,561,825
Deferred sales inducements			275,574
Income tax assets			1,873,740
Market risk benefits assets			0
Other assets			1,327,393
TOTAL ASSETS			189,299,841
Policyholders’ account balances			41,748,241
Future policy benefits			23,204,533
Market risk benefit liabilities			0
Other liabilities			3,407,156
Total liabilities			184,936,310
Retained earnings / (accumulated deficit)			(95,583)
Accumulated other comprehensive income (loss)			(1,581,300)
Total equity			4,363,531
TOTAL LIABILITIES AND EQUITY			189,299,841
Change of Effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs			314,328				74,702
Reinsurance recoverables			2,534,737
Deferred sales inducements			105,930
Income tax assets			(178,989)
Market risk benefits assets			1,393,237
Other assets			4,034
TOTAL ASSETS			4,173,277
Policyholders’ account balances			164,295
Future policy benefits			(2,375,500)
Market risk benefit liabilities			5,521,601
Other liabilities			190,217
Total liabilities			3,500,613
Retained earnings / (accumulated deficit)			(898,571)
Accumulated other comprehensive income (loss)			1,571,235
Total equity		$ 673,000	672,664				$ (271,000)
TOTAL LIABILITIES AND EQUITY			$ 4,173,277
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_5

Business and Basis of Presentation (Summary Of Adoption Of New Guidance On Unaudited Interim Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022		Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUES
Premiums	$ 89,965		$ 54,324	[1]		$ 166,621	$ 123,829	[1]
Policy charges and fee income	363,536		398,755	[1]		750,027	487,935	[1]
Other income (loss)	105,458		(306,639)	[1]		350,305	(633,722)	[1]
Realized Investment gains (losses), net	7,694		360,219	[1]		(112,985)	713,500	[2]
Change in value of market risk benefits, net of related hedging gain (loss)	(38,887)		(717,469)	[1]		(18,685)	(1,155,337)	[2]
TOTAL REVENUES	977,629		53,108			1,998,798	58,655
BENEFITS AND EXPENSES
Policyholders' benefits	146,961		94,449	[1]		252,143	279,858	[1]
Change in estimates of liability of future policy benefits	(1,133)		48,647	[1]		(5,535)	45,800	[1]
Interest credited to policyholders’ account balances	143,816		108,918	[1]		304,038	220,937	[1]
Amortization of deferred policy acquisition costs	129,147		130,889	[1]		266,642	255,964	[1]
General, administrative and other expenses	300,689		285,767	[1]		587,336	552,717	[1]
TOTAL BENEFITS AND EXPENSES	719,480		668,670			1,404,624	1,355,276
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	258,149		(615,562)			594,174	(1,296,621)
Income tax expense (benefit)	40,326		(143,706)	[1]		96,565	(342,554)	[1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	217,823		(471,856)			497,609	(954,067)
NET INCOME (LOSS)	217,598	$ 279,679	(547,018)		$ (482,207)	497,277	(1,029,225)	[2]
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)	(263,227)		(883,418)	[1]		118,874	(1,817,941)	[1]
Interest rate remeasurement of future policy benefits	20,636		130,981	[1]		(17,588)	249,694	[1]
Gain (loss) from changes in non-performance risk on market risk benefits	(247,746)		887,534	[1]		(67,323)	1,789,586	[1]
Total	(489,737)		128,897			37,229	213,469
Less: Income tax expense (benefit) related to other comprehensive income (loss)	(102,846)		27,805	[1]		7,416	45,818	[1]
Other Comprehensive Income (Loss), Net of Tax	(386,891)	$ 416,704	101,092		$ 66,559	29,813	167,651
Comprehensive income (loss)	$ (169,293)		(445,926)			$ 527,090	(861,574)
As Previously Reported
REVENUES
Premiums			57,421				131,666
Policy charges and fee income			625,812				817,374
Other income (loss)			(312,016)				(639,620)
Realized Investment gains (losses), net			714,709				1,498,816
Change in value of market risk benefits, net of related hedging gain (loss)			0				0
TOTAL REVENUES			1,349,844				2,330,686
BENEFITS AND EXPENSES
Policyholders' benefits			158,106				377,870
Change in estimates of liability of future policy benefits			0				0
Interest credited to policyholders’ account balances			122,944				286,470
Amortization of deferred policy acquisition costs			276,173				635,720
General, administrative and other expenses			286,447				554,144
TOTAL BENEFITS AND EXPENSES			843,670				1,854,204
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			506,174				476,482
Income tax expense (benefit)			75,774				71,073
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			430,400				405,409
NET INCOME (LOSS)			355,238				330,251
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)			(897,661)				(1,913,659)
Interest rate remeasurement of future policy benefits			0				0
Gain (loss) from changes in non-performance risk on market risk benefits			0				0
Total			(903,861)				(1,921,529)
Less: Income tax expense (benefit) related to other comprehensive income (loss)			(189,054)				(402,512)
Other Comprehensive Income (Loss), Net of Tax			(714,807)				(1,519,017)
Comprehensive income (loss)			(359,569)				(1,188,766)
Change of Effect
REVENUES
Premiums			(3,097)				(7,837)
Policy charges and fee income			(227,057)				(329,439)
Other income (loss)			5,377				5,898
Realized Investment gains (losses), net			(354,490)				(785,316)
Change in value of market risk benefits, net of related hedging gain (loss)			(717,469)				(1,155,337)
TOTAL REVENUES			(1,296,736)				(2,272,031)
BENEFITS AND EXPENSES
Policyholders' benefits			(63,657)				(98,012)
Change in estimates of liability of future policy benefits			48,647				45,800
Interest credited to policyholders’ account balances			(14,026)				(65,533)
Amortization of deferred policy acquisition costs			(145,284)				(379,756)
General, administrative and other expenses			(680)				(1,427)
TOTAL BENEFITS AND EXPENSES			(175,000)				(498,928)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			(1,121,736)				(1,773,103)
Income tax expense (benefit)			(219,480)				(413,627)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			(902,256)				(1,359,476)
NET INCOME (LOSS)			(902,256)				(1,359,476)
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)			14,243				95,718
Interest rate remeasurement of future policy benefits			130,981				249,694
Gain (loss) from changes in non-performance risk on market risk benefits			887,534				1,789,586
Total			1,032,758				2,134,998
Less: Income tax expense (benefit) related to other comprehensive income (loss)			216,859				448,330
Other Comprehensive Income (Loss), Net of Tax			815,899				1,686,668
Comprehensive income (loss)			$ (86,357)				$ 327,192
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basic Presentation

Business and Basic Presentation (Summary Of Adoption Of New Guidance On Unaudited Interim Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022		Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)	$ 217,598	$ 279,679	$ (547,018)		$ (482,207)	$ 497,277	$ (1,029,225)	[1]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income						32,088	50,541	[1]
Interest credited to policyholders’ account balances						304,038	220,937	[1]
Realized investment (gains) losses, net	(7,694)		(360,219)	[2]		112,985	(713,500)	[1]
Change in value of market risk benefits, net of related hedging (gains) losses	$ 38,887		717,469	[2]		18,685	1,155,337	[1]
Change in:
Future policy benefits and other insurance liabilities						1,114,998	2,656,256	[1]
Reinsurance recoverables						(266,323)	(1,677,450)	[1]
Deferred policy acquisition costs						(247,251)	(232,892)	[1]
Income taxes						(131,308)	(504,423)	[1]
Other, net						22,671	1,994,124	[1],[3]
Cash flows from (used in) operating activities						$ 1,309,280	783,018
As Previously Reported
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)			355,238				330,251
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income							(104,864)
Interest credited to policyholders’ account balances							286,470
Realized investment (gains) losses, net			(714,709)				(1,498,816)
Change in value of market risk benefits, net of related hedging (gains) losses			0				0
Change in:
Future policy benefits and other insurance liabilities							1,476,307
Reinsurance recoverables							(651,569)
Deferred policy acquisition costs							147,096
Income taxes							(90,806)
Other, net							2,025,636
Cash flows from (used in) operating activities							783,018
Change of Effect
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME (LOSS)			(902,256)				(1,359,476)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income							155,405
Interest credited to policyholders’ account balances							(65,533)
Realized investment (gains) losses, net			354,490				785,316
Change in value of market risk benefits, net of related hedging (gains) losses			$ 717,469				1,155,337
Change in:
Future policy benefits and other insurance liabilities							1,179,949
Reinsurance recoverables							(1,025,881)
Deferred policy acquisition costs							(379,988)
Income taxes							(413,617)
Other, net							(31,512)
Cash flows from (used in) operating activities							$ 0
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[3]Prior period has been reclassified to conform to the current period presentation.

Business and Basis of Present_6

Business and Basis of Presentation (Transition Adjustment Roll Forward Of Retained Earnings) (Details) - Retained Earnings $ in Thousands	Jan. 01, 2021 USD ($)
Retained Earnings Transition Adjustment [Roll Forward]
Balance after-tax, after transition	$ 1,167,252
As Previously Reported
Retained Earnings Transition Adjustment [Roll Forward]
Balance after-tax, prior to transition	1,772,398
Change of Effect
Retained Earnings Transition Adjustment [Roll Forward]
Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income	(722,837)
Updates to certain universal life contract liabilities	(116,120)
Other	72,950
Total pre-tax adjustments	(766,007)
Tax impacts	$ 160,861

Business and Basis of Present_7

Business and Basis of Presentation (Transition Adjustment Roll Forward Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands			6 Months Ended
		Jan. 01, 2021	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning Balance	[1]		$ (10,065)
Ending Balance			19,748
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning Balance			(10,065)	$ 396,454
Ending Balance		$ 880,548	19,748	$ 564,105
As Previously Reported
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning Balance			(1,581,300)
As Previously Reported | Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning Balance		546,128
Change of Effect
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning Balance			$ 1,571,235
Change of Effect | Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Interest rate remeasurement of future policy benefits		(196,526)
Reclassification of market risk benefits non-performance risk to accumulated other comprehensive income		722,837
Unwinding amounts related to unrealized investment gains and losses		(102,042)
Change in operating joint ventures		(753)
Total pre-tax adjustments		423,516
Tax impacts		$ (89,096)
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_8

Business and Basis of Presentation (Schedule of Deferred Policy Acquisition Costs) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Deferred Policy Acquisition Cost [Line Items]
Balance	$ 6,784,291	$ 6,930,425	[1]	$ 6,721,014	$ 7,029,307	$ 2,493,082
As Previously Reported
Deferred Policy Acquisition Cost [Line Items]
Balance		6,616,097					$ 2,433,936
Change of Effect
Deferred Policy Acquisition Cost [Line Items]
Balance		314,328				74,702
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Other						(15,556)
Term Life
Deferred Policy Acquisition Cost [Line Items]
Balance	689,969	648,837		617,106	577,084	462,099
Term Life | As Previously Reported
Deferred Policy Acquisition Cost [Line Items]
Balance							462,098
Term Life | Change of Effect
Deferred Policy Acquisition Cost [Line Items]
Balance						0
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Other						1
Variable/Universal Life
Deferred Policy Acquisition Cost [Line Items]
Balance	$ 2,658,930	$ 2,442,883		$ 2,232,166	$ 2,561,011	2,030,983
Variable/Universal Life | As Previously Reported
Deferred Policy Acquisition Cost [Line Items]
Balance							$ 1,971,838
Variable/Universal Life | Change of Effect
Deferred Policy Acquisition Cost [Line Items]
Balance						74,702
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Other						$ (15,557)
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_9

Business and Basis of Presentation (Schedule of Deferred Reinsurance) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 18,190,646		$ 19,163,296
Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance					$ 362,347
As Previously Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance						$ 233,678
Unwinding amounts related to unrealized investment gains and losses | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					14,804
Effect of change in reserve basis to market risk benefits | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					141,032
Effect of change in SOP 03-1 reserve basis | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					(27,167)
Variable Annuities | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance					274,415
Variable Annuities | As Previously Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance						118,579
Variable Annuities | Unwinding amounts related to unrealized investment gains and losses | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					14,804
Variable Annuities | Effect of change in reserve basis to market risk benefits | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					141,032
Variable Annuities | Effect of change in SOP 03-1 reserve basis | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 17,968,611	$ 17,835,251	$ 18,949,863	$ 20,937,097
Term Life | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance					87,932
Term Life | As Previously Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance						87,932
Term Life | Unwinding amounts related to unrealized investment gains and losses | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Term Life | Effect of change in reserve basis to market risk benefits | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Term Life | Effect of change in SOP 03-1 reserve basis | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Variable/Universal Life | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance					0
Variable/Universal Life | Deferred Reinsurance Gain
Liability for Future Policy Benefit, Activity [Line Items]
Balance					174,259
Variable/Universal Life | As Previously Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance						27,167
Variable/Universal Life | As Previously Reported | Deferred Reinsurance Gain
Liability for Future Policy Benefit, Activity [Line Items]
Balance						$ 134,213
Variable/Universal Life | Unwinding amounts related to unrealized investment gains and losses | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Variable/Universal Life | Effect of change in reserve basis to market risk benefits | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					0
Variable/Universal Life | Effect of change in SOP 03-1 reserve basis | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					(27,167)
Variable/Universal Life | Effect of change in SOP 03-1 reserve basis | Deferred Reinsurance Gain
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					$ 40,046

Business and Basis of Presen_10

Business and Basis of Presentation (Liability for Future Policy Benefit-Benefits Reserve) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate	$ 18,190,646		$ 19,163,296
Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance					$ 8,522,254
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate					14,299,073
Reinsurance recoverable					13,728,627
Balance after reinsurance recoverable, end of period, post-flooring					570,446
As Previously Reported | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance						$ 8,486,563
Changes in cash flow assumptions and other activity | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					35,691
Cumulative changes in discount rate assumptions | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					5,776,819
Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Balance	18,760,024	$ 18,797,285	18,805,457	$ 17,329,822
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate	17,968,611	$ 17,835,251	18,949,863	$ 20,937,097
Reinsurance recoverable	6,614,071		6,847,216
Balance after reinsurance recoverable, end of period, post-flooring	$ 531,575		$ 422,461
Term Life | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance					6,674,231
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate					9,106,241
Reinsurance recoverable					8,536,200
Balance after reinsurance recoverable, end of period, post-flooring					570,041
Term Life | As Previously Reported | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance						6,674,490
Term Life | Changes in cash flow assumptions and other activity | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					(259)
Term Life | Cumulative changes in discount rate assumptions | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					2,432,010
Life Insurance - Taiwan | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance					1,635,562
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate					4,952,553
Reinsurance recoverable					4,952,553
Balance after reinsurance recoverable, end of period, post-flooring					0
Life Insurance - Taiwan | As Previously Reported | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance						1,592,329
Life Insurance - Taiwan | Changes in cash flow assumptions and other activity | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					43,233
Life Insurance - Taiwan | Cumulative changes in discount rate assumptions | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					3,316,991
Other | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance					212,461
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition, at current discount rate					240,279
Reinsurance recoverable					239,874
Balance after reinsurance recoverable, end of period, post-flooring					405
Other | As Previously Reported | Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance						$ 219,744
Other | Changes in cash flow assumptions and other activity | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					(7,283)
Other | Cumulative changes in discount rate assumptions | Benefit Reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change					$ 27,818

Business and Basis of Presen_11

Business and Basis of Presentation (Liability for Future Policy Benefit-Deferred Profit Liability) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 18,190,646	$ 19,163,296
Deferred Profit Liaibility
Liability for Future Policy Benefit, Activity [Line Items]
Balance			$ 52,666
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Reinsurance recoverable			52,666
Balance after reinsurance recoverable, end of period, post-flooring			0
Deferred Profit Liaibility | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				$ 50,816
Deferred Profit Liaibility | Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Changes in benefit reserves			1,850
Deferred Profit Liaibility | Life Insurance - Taiwan
Liability for Future Policy Benefit, Activity [Line Items]
Balance			42,456
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Reinsurance recoverable			42,456
Balance after reinsurance recoverable, end of period, post-flooring			0
Deferred Profit Liaibility | Life Insurance - Taiwan | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				49,127
Deferred Profit Liaibility | Life Insurance - Taiwan | Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Changes in benefit reserves			(6,671)
Deferred Profit Liaibility | Other
Liability for Future Policy Benefit, Activity [Line Items]
Balance			10,210
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Reinsurance recoverable			10,210
Balance after reinsurance recoverable, end of period, post-flooring			0
Deferred Profit Liaibility | Other | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				$ 1,689
Deferred Profit Liaibility | Other | Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Changes in benefit reserves			$ 8,521

Business and Basis of Presen_12

Business and Basis of Presentation (Additional Insurance Reserves) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 18,190,646	$ 19,163,296
Additional insurance reserves
Liability for Future Policy Benefit, Activity [Line Items]
Balance			$ 10,878,087
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			9,708,115
Balance after transition, excluding amounts related to unrealized investment gains and losses			9,708,115
Amounts related to unrealized investment gains and losses after transition			1,169,972
Reinsurance recoverable			10,685,150
Balance after reinsurance recoverable, end of period, post-flooring			192,937
Additional insurance reserves | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				$ 9,951,896
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			8,471,196
Balance after transition, excluding amounts related to unrealized investment gains and losses			8,471,196
Additional insurance reserves | Unwinding amounts related to unrealized investment gains and losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			(1,480,700)
Additional insurance reserves | Reclassification of future policy benefits additional insurance reserves to market risk benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			(534,422)
Additional insurance reserves | Updates to certain universal life contract liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			1,771,341
Additional insurance reserves | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Balance			10,878,087
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			9,708,115
Balance after transition, excluding amounts related to unrealized investment gains and losses			9,708,115
Amounts related to unrealized investment gains and losses after transition			1,169,972
Reinsurance recoverable			10,685,150
Balance after reinsurance recoverable, end of period, post-flooring			192,937
Additional insurance reserves | Variable/Universal Life | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				9,363,585
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			7,936,774
Balance after transition, excluding amounts related to unrealized investment gains and losses			7,936,774
Additional insurance reserves | Variable/Universal Life | Unwinding amounts related to unrealized investment gains and losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			(1,426,811)
Additional insurance reserves | Variable/Universal Life | Reclassification of future policy benefits additional insurance reserves to market risk benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			0
Additional insurance reserves | Variable/Universal Life | Updates to certain universal life contract liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			1,771,341
Additional insurance reserves | Variable Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Balance			0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			0
Balance after transition, excluding amounts related to unrealized investment gains and losses			0
Amounts related to unrealized investment gains and losses after transition			0
Reinsurance recoverable			0
Balance after reinsurance recoverable, end of period, post-flooring			0
Additional insurance reserves | Variable Annuities | As Previously Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance				$ 588,311
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition, excluding amounts related to unrealized investment gains and losses			534,422
Balance after transition, excluding amounts related to unrealized investment gains and losses			534,422
Additional insurance reserves | Variable Annuities | Unwinding amounts related to unrealized investment gains and losses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			(53,889)
Additional insurance reserves | Variable Annuities | Reclassification of future policy benefits additional insurance reserves to market risk benefits
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			(534,422)
Additional insurance reserves | Variable Annuities | Updates to certain universal life contract liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change			$ 0

Business and Basis of Presen_13

Business and Basis of Presentation (Unearned Revenue Reserves) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition	$ 13,488,863	$ 12,664,445	$ 12,493,593	$ 11,660,527
Unwinding amounts related to unrealized investment gains and losses and other activity		$ 26,204		$ (157,782)
Less: Reinsurance recoverables	13,268,534		12,282,253
Balance after transition, net of reinsurance recoverable	$ 220,329		$ 211,340
Variable/Universal Life | Policyholder Contract Deposit
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition					$ 1,745,268
Less: Reinsurance recoverables					751,517
Balance after transition, net of reinsurance recoverable					993,751
Variable/Universal Life | As Previously Reported | Policyholder Contract Deposit
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition						$ 1,377,669
Variable/Universal Life | Changes in benefit reserves | Policyholder Contract Deposit
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Unwinding amounts related to unrealized investment gains and losses and other activity					$ 367,599

Business and Basis of Presen_14

Business and Basis of Presentation (Market Risk Benefit, Activity) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Variable Annuities
Market Risk Benefit [Roll Forward]
Net liability	$ 2,749,536	$ 4,550,625	$ 5,263,138	$ 8,884,362	$ (12,032)
Variable Annuities | As Previously Reported
Market Risk Benefit [Roll Forward]
Net liability						$ 13,227,814
Variable Annuities | Additional insurance reserves to be reclassed to market risk benefits, prior to transition, excluding amounts related to unrealized investment gains and losses
Market Risk Benefit [Roll Forward]
Net liability					534,422
Variable Annuities | Total liability prior to transition
Market Risk Benefit [Roll Forward]
Net liability					13,762,236
Variable Annuities | Change in reserve basis to market risk benefits framework
Market Risk Benefit [Roll Forward]
Net liability					(184,693)
Variable Annuities | Market risk benefits after transition, at current non-performance risk value
Market Risk Benefit [Roll Forward]
Net liability					13,577,543
Variable Annuities | Less: Reinsured market risk benefits
Market Risk Benefit [Roll Forward]
Net liability					13,589,575
Variable Annuities | Market risk benefits after transition, at contract inception non-performance risk value
Market Risk Benefit [Roll Forward]
Net liability					13,577,543
Variable Annuities | Cumulative change in non-performance risk
Market Risk Benefit [Roll Forward]
Net liability					722,837
Individual Variable | Market risk benefits after transition, at contract inception non-performance risk value | Retirement Strategies
Market Risk Benefit [Roll Forward]
Net liability					$ 14,300,380

Business and Basis of Presen_15

Business and Basis of Presentation (Cost Of Reinsurance) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition	$ 13,488,863	$ 12,664,445	$ 12,493,593	$ 11,660,527
Unwinding amounts related to unrealized investment gains and losses and other activity		$ 26,204		$ (157,782)
Amounts related to unrealized investment gains and losses after transition	13,268,534		12,282,253
Balance after transition	$ 220,329		$ 211,340
Variable/Universal Life | Other liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition					$ 437,315
Amounts related to unrealized investment gains and losses after transition					191,098
Balance after transition					628,413
Variable/Universal Life | As Previously Reported | Other liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition						$ 602,294
Variable/Universal Life | Unwinding amounts related to unrealized investment gains and losses | Other liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Unwinding amounts related to unrealized investment gains and losses and other activity					(246,899)
Variable/Universal Life | Balance prior to transition, excluding amounts related to unrealized investment gains and losses | Other liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition					355,395
Variable/Universal Life | Impact from updates to certain universal life contract liabilities | Other liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Unwinding amounts related to unrealized investment gains and losses and other activity					$ 81,920

Significant Accounting Polici_3

Significant Accounting Policies and Pronouncements (Narratives) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Jan. 01, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	$ 5,670,653		$ 5,036,195
Change of Effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		$ 673,000	$ 672,664	$ (271,000)

Investments (Fixed Maturities S

Investments (Fixed Maturities Securities Excluding Investments Classified as Trading) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 25,557,874	$ 21,311,087
Allowance for Credit Losses	4,923	4,769
Fair Value	23,441,750	19,025,401
Fixed maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	25,557,874	21,311,087
Gross Unrealized Gains	104,891	72,582
Gross Unrealized Losses	2,216,092	2,353,499
Allowance for Credit Losses	4,923	4,769
Fair Value	23,441,750	19,025,401
Fixed maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	392,585	354,348
Gross Unrealized Gains	258	300
Gross Unrealized Losses	68,582	72,856
Allowance for Credit Losses	0	0
Fair Value	324,261	281,792
Fixed maturities | Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	797,759	654,884
Gross Unrealized Gains	3,900	4,275
Gross Unrealized Losses	24,568	30,959
Allowance for Credit Losses	0	0
Fair Value	777,091	628,200
Fixed maturities | Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	341,979	330,967
Gross Unrealized Gains	1,229	1,140
Gross Unrealized Losses	54,900	58,640
Allowance for Credit Losses	0	5
Fair Value	288,308	273,462
Fixed maturities | U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,797,076	7,414,790
Gross Unrealized Gains	29,259	21,299
Gross Unrealized Losses	940,277	992,145
Allowance for Credit Losses	1,175	0
Fair Value	8,884,883	6,443,944
Fixed maturities | U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,659,960	4,140,734
Gross Unrealized Gains	12,365	13,071
Gross Unrealized Losses	340,940	335,205
Allowance for Credit Losses	3,480	1,871
Fair Value	4,327,905	3,816,729
Fixed maturities | Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,873,238	1,539,172
Gross Unrealized Gains	2,455	2,455
Gross Unrealized Losses	155,979	163,384
Allowance for Credit Losses	262	21
Fair Value	1,719,452	1,378,222
Fixed maturities | Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,521,673	4,338,585
Gross Unrealized Gains	38,274	19,761
Gross Unrealized Losses	520,224	589,153
Allowance for Credit Losses	0	2,863
Fair Value	4,039,723	3,766,330
Fixed maturities | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,903,744	1,467,955
Gross Unrealized Gains	15,309	6,976
Gross Unrealized Losses	21,487	32,577
Allowance for Credit Losses	0	0
Fair Value	1,897,566	1,442,354
Fixed maturities | Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	858,875	727,159
Gross Unrealized Gains	49	94
Gross Unrealized Losses	78,819	69,101
Allowance for Credit Losses	0	0
Fair Value	780,105	658,152
Fixed maturities | Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	410,985	342,493
Gross Unrealized Gains	1,793	3,211
Gross Unrealized Losses	10,316	9,479
Allowance for Credit Losses	6	9
Fair Value	$ 402,456	$ 336,216

Investments (Fair Value and Los

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - Fixed maturities - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	$ 9,161,351	$ 10,575,622
Less than Twelve Months, Gross Unrealized Losses	278,120	925,410
Twelve Months or More, Fair Value	10,180,149	5,707,596
Twelve Months or More, Gross Unrealized Losses	1,937,529	1,428,069
Total, Fair Value	19,341,500	16,283,218
Total, Gross Unrealized Losses	2,215,649	2,353,479
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	100,715	212,991
Less than Twelve Months, Gross Unrealized Losses	1,233	46,928
Twelve Months or More, Fair Value	219,681	62,630
Twelve Months or More, Gross Unrealized Losses	67,349	25,928
Total, Fair Value	320,396	275,621
Total, Gross Unrealized Losses	68,582	72,856
Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	331,330	307,734
Less than Twelve Months, Gross Unrealized Losses	5,382	16,851
Twelve Months or More, Fair Value	146,894	61,915
Twelve Months or More, Gross Unrealized Losses	19,186	14,108
Total, Fair Value	478,224	369,649
Total, Gross Unrealized Losses	24,568	30,959
Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	50,572	139,577
Less than Twelve Months, Gross Unrealized Losses	2,126	19,435
Twelve Months or More, Fair Value	214,241	111,371
Twelve Months or More, Gross Unrealized Losses	52,774	39,205
Total, Fair Value	264,813	250,948
Total, Gross Unrealized Losses	54,900	58,640
U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	3,983,266	3,873,275
Less than Twelve Months, Gross Unrealized Losses	112,737	389,937
Twelve Months or More, Fair Value	3,630,814	1,979,725
Twelve Months or More, Gross Unrealized Losses	827,449	602,208
Total, Fair Value	7,614,080	5,853,000
Total, Gross Unrealized Losses	940,186	992,145
U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	2,169,540	2,506,932
Less than Twelve Months, Gross Unrealized Losses	86,096	157,853
Twelve Months or More, Fair Value	1,817,855	948,686
Twelve Months or More, Gross Unrealized Losses	254,812	177,352
Total, Fair Value	3,987,395	3,455,618
Total, Gross Unrealized Losses	340,908	335,205
Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	751,135	548,083
Less than Twelve Months, Gross Unrealized Losses	12,808	40,508
Twelve Months or More, Fair Value	816,331	596,437
Twelve Months or More, Gross Unrealized Losses	142,851	122,856
Total, Fair Value	1,567,466	1,144,520
Total, Gross Unrealized Losses	155,659	163,364
Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	926,723	1,772,413
Less than Twelve Months, Gross Unrealized Losses	34,714	199,124
Twelve Months or More, Fair Value	2,234,946	1,479,608
Twelve Months or More, Gross Unrealized Losses	485,510	390,029
Total, Fair Value	3,161,669	3,252,021
Total, Gross Unrealized Losses	520,224	589,153
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	379,540	625,710
Less than Twelve Months, Gross Unrealized Losses	4,023	15,146
Twelve Months or More, Fair Value	611,043	289,581
Twelve Months or More, Gross Unrealized Losses	17,464	17,431
Total, Fair Value	990,583	915,291
Total, Gross Unrealized Losses	21,487	32,577
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	314,068	459,186
Less than Twelve Months, Gross Unrealized Losses	13,348	30,408
Twelve Months or More, Fair Value	456,762	176,349
Twelve Months or More, Gross Unrealized Losses	65,471	38,693
Total, Fair Value	770,830	635,535
Total, Gross Unrealized Losses	78,819	69,101
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	154,462	129,721
Less than Twelve Months, Gross Unrealized Losses	5,653	9,220
Twelve Months or More, Fair Value	31,582	1,294
Twelve Months or More, Gross Unrealized Losses	4,663	259
Total, Fair Value	186,044	131,015
Total, Gross Unrealized Losses	$ 10,316	$ 9,479

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Schedule of Investments [Line Items]
Loans acquired	$ 5,403,100	$ 27,600	$ 5,403,100	$ 27,600
Loans sold	0	24,800	0	24,800
Fixed maturity purchased with credit deterioration			0		$ 0
Accrued Investment Income Write Down	0	0	0	0
Securities sold under agreements to repurchase	$ 0		$ 0		$ 0
Commercial mortgage loans, Percentage	100%		100%		100%
Commercial mortgage and other loans purchased with credit deterioration			$ 0		$ 0
Fixed maturities
Schedule of Investments [Line Items]
Gross Unrealized Losses	$ 2,215,649		2,215,649		2,353,479
Twelve Months or More, Gross Unrealized Losses	1,937,529		1,937,529		1,428,069
NAIC high or highest quality rating | Fixed maturities
Schedule of Investments [Line Items]
Gross Unrealized Losses	2,071,000		2,071,000		2,164,100
NAIC other than high or highest quality rating | Fixed maturities
Schedule of Investments [Line Items]
Gross Unrealized Losses	$ 144,700		$ 144,700		189,400
California
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	29%		29%
Texas
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	12%		12%
New York
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	5%		5%
Europe
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	9%		9%
Mexico
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	2%		2%
Australia
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	1%		1%
Other Income | Fixed maturities | Trading
Schedule of Investments [Line Items]
Net unrealized investment gains (losses)	$ (53,500)	(184,100)	$ 42,600	(520,500)
Other Income | Equity securities
Schedule of Investments [Line Items]
Net unrealized investment gains (losses)	(1,100)	$ (10,000)	8,100	$ (14,100)
Fixed maturities
Schedule of Investments [Line Items]
Twelve Months or More, Gross Unrealized Losses	$ 1,937,500		$ 1,937,500		$ 1,428,100

Investments (Amortized Cost and

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 871,136
Due after one year through five years	7,836,414
Due after five years through ten years	6,286,229
Due after ten years	7,390,491
Amortized Cost	25,557,874	$ 21,311,087
Fair Value
Due in one year or less	851,532
Due after one year through five years	7,422,836
Due after five years through ten years	5,750,612
Due after ten years	6,336,643
Fair Value	23,441,750	$ 19,025,401
Asset-backed securities
Amortized Cost
Debt securities, available-for-sale, maturity, without single maturity date, amortized cost	1,903,744
Fair Value
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value	1,897,566
Commercial mortgage-backed securities
Amortized Cost
Debt securities, available-for-sale, maturity, without single maturity date, amortized cost	858,875
Fair Value
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value	780,105
Residential mortgage-backed securities
Amortized Cost
Debt securities, available-for-sale, maturity, without single maturity date, amortized cost	410,985
Fair Value
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value	$ 402,456

Investments (Fixed Maturities_2

Investments (Fixed Maturities Securities Proceeds) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-sale [Line Items]
Proceeds from maturities/prepayments			$ 668,943	$ 877,701
Fixed maturities | Available-for-sale
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	$ 68,308	$ 403,660	128,681	678,089
Proceeds from maturities/prepayments	193,205	110,426	488,333	230,787
Gross investment gains from sales and maturities	6,777	(652)	9,449	(1,358)
Gross investment losses from sales and maturities	(5,587)	(22,461)	(17,525)	(41,903)
Write-downs recognized in earnings	4	(19,519)	7	(19,516)
(Addition to) release of allowance for credit losses	$ (1,196)	$ 15,915	(154)	(661)
Noncash or part noncash divestiture, amount of consideration received			$ 51,900	$ (31,200)

Investments (Credit Losses Reco

Investments (Credit Losses Recognized In Earnings on Fixed Maturity Securities Held by the Company) (Details) - Fixed maturities - Available-for-sale - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	$ 3,727	$ 20,725	$ 4,769	$ 4,149
Additions to allowance for credit losses not previously recorded	242	2,904	3,165	12,491
Reductions for securities sold during the period	(41)	(1,203)	(3,775)	(1,206)
Reductions for securities with intent to sell	0	(16,990)	0	(16,990)
Additions (reductions) on securities with previous allowance	995	(626)	764	6,366
Balance, end of period	4,923	4,810	4,923	4,810
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	0	0	0
Additions to allowance for credit losses not previously recorded	0	0	0	0
Reductions for securities sold during the period	0	0	0	0
Reductions for securities with intent to sell	0	0	0	0
Additions (reductions) on securities with previous allowance	0	0	0	0
Balance, end of period	0	0	0	0
Foreign Government Bonds
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	399	5	11
Additions to allowance for credit losses not previously recorded	0	0	0	329
Reductions for securities sold during the period	0	(1)	(1)	(4)
Reductions for securities with intent to sell	0	(324)	0	(324)
Additions (reductions) on securities with previous allowance	0	42	(4)	104
Balance, end of period	0	116	0	116
U.S. and Foreign Corporate Securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	3,720	20,326	4,755	4,138
Additions to allowance for credit losses not previously recorded	242	2,904	3,165	12,162
Reductions for securities sold during the period	(41)	(1,202)	(3,774)	(1,202)
Reductions for securities with intent to sell	0	(16,666)	0	(16,666)
Additions (reductions) on securities with previous allowance	996	(668)	771	6,262
Balance, end of period	4,917	4,694	4,917	4,694
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	0	0	0
Additions to allowance for credit losses not previously recorded	0	0	0	0
Reductions for securities sold during the period	0	0	0	0
Reductions for securities with intent to sell	0	0	0	0
Additions (reductions) on securities with previous allowance	0	0	0	0
Balance, end of period	0	0	0	0
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	0	0	0
Additions to allowance for credit losses not previously recorded	0	0	0	0
Reductions for securities sold during the period	0	0	0	0
Reductions for securities with intent to sell	0	0	0	0
Additions (reductions) on securities with previous allowance	0	0	0	0
Balance, end of period	0	0	0	0
Residential Mortgage-Backed Securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	7	0	9	0
Additions to allowance for credit losses not previously recorded	0	0	0	0
Reductions for securities sold during the period	0	0	0	0
Reductions for securities with intent to sell	0	0	0	0
Additions (reductions) on securities with previous allowance	(1)	0	(3)	0
Balance, end of period	$ 6	$ 0	$ 6	$ 0

Investments (Commercial Mortgag

Investments (Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 5,404,371	$ 4,948,943
Commercial mortgage loans, Percentage	100%	100%
Allowance for Credit Losses	$ (22,093)	$ (20,263)
Commercial Mortgage Loans	5,382,278	4,928,680
Commercial Mortgage and Agricultural Loans
Commercial Mortgage and Other Loans [Line Items]
Commercial Mortgage Loans	5,382,278	4,928,680
Apartments and multi-family
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 1,438,086	$ 1,289,026
Commercial mortgage loans, Percentage	26.60%	26%
Hospitality
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 103,254	$ 104,177
Commercial mortgage loans, Percentage	1.90%	2.10%
Industrial
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 2,024,002	$ 1,766,247
Commercial mortgage loans, Percentage	37.50%	35.80%
Office
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 588,424	$ 590,897
Commercial mortgage loans, Percentage	10.90%	11.90%
Other
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 401,375	$ 380,121
Commercial mortgage loans, Percentage	7.40%	7.70%
Retail
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 368,990	$ 351,457
Commercial mortgage loans, Percentage	6.80%	7.10%
Commercial mortgage loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 4,924,131	$ 4,481,925
Commercial mortgage loans, Percentage	91.10%	90.60%
Agricultural property loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 480,240	$ 467,018
Commercial mortgage loans, Percentage	8.90%	9.40%

Investments (Allowance for Cred

Investments (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	$ 21,410	$ 6,446	$ 20,263	$ 5,951
Addition to (release of) allowance for expected losses	683	3,478	1,830	3,973
Total ending balance	22,093	9,924	22,093	9,924
Commercial mortgage loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	20,427	6,324	19,665	5,847
Addition to (release of) allowance for expected losses	706	3,380	1,468	3,857
Total ending balance	21,133	9,704	21,133	9,704
Agricultural Property Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	983	122	598	104
Addition to (release of) allowance for expected losses	(23)	98	362	116
Total ending balance	$ 960	$ 220	$ 960	$ 220

Investments (Credit Quality Ind

Investments (Credit Quality Indicators) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	$ 5,404,371	$ 4,948,943
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	466,314	777,192
One Year Prior	783,042	1,248,477
Two Year Prior	1,254,795	354,746
Three Year Prior	356,016	511,628
Four Year Prior	511,765	265,253
Prior	1,552,199	1,324,629
Revolving Loans	0
Recording investment gross of allowance for credit losses	4,924,131	4,481,925
Commercial mortgage loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	395,531	744,301
One Year Prior	750,505	1,248,477
Two Year Prior	1,254,795	243,325
Three Year Prior	248,763	452,626
Four Year Prior	469,527	258,617
Prior	1,451,257	1,203,807
Revolving Loans	0
Recording investment gross of allowance for credit losses	4,570,378	4,151,153
Commercial mortgage loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	70,783	32,891
One Year Prior	32,537	0
Two Year Prior	0	83,655
Three Year Prior	11,191	26,558
Four Year Prior	23,872	6,636
Prior	14,829	45,742
Revolving Loans	0
Recording investment gross of allowance for credit losses	153,212	195,482
Commercial mortgage loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	0	0
Two Year Prior	0	27,766
Three Year Prior	96,062	32,444
Four Year Prior	18,366	0
Prior	86,113	75,080
Revolving Loans	0
Recording investment gross of allowance for credit losses	200,541	135,290
Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	25,985	264,918
One Year Prior	248,715	133,126
Two Year Prior	132,189	25,894
Three Year Prior	26,241	16,053
Four Year Prior	15,927	6,327
Prior	26,433	20,700
Revolving Loans	4,750
Recording investment gross of allowance for credit losses	480,240	467,018
Agricultural Property Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	25,985	262,918
One Year Prior	246,715	133,126
Two Year Prior	132,189	25,894
Three Year Prior	26,241	16,053
Four Year Prior	15,927	6,327
Prior	26,433	20,700
Revolving Loans	4,750
Recording investment gross of allowance for credit losses	478,240	465,018
Agricultural Property Loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	2,000
One Year Prior	2,000	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Revolving Loans	0
Recording investment gross of allowance for credit losses	2,000	2,000
Agricultural Property Loans | Less than 1.0X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	0	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Revolving Loans	0
Recording investment gross of allowance for credit losses	0	0
0%-59.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	140,170	266,453
One Year Prior	229,914	262,095
Two Year Prior	251,894	63,558
Three Year Prior	73,420	222,638
Four Year Prior	242,096	201,087
Prior	1,087,395	894,646
Revolving Loans	0
Recording investment gross of allowance for credit losses	2,024,889	1,910,477
0%-59.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	13,837	208,708
One Year Prior	192,505	133,126
Two Year Prior	132,189	25,894
Three Year Prior	26,241	16,053
Four Year Prior	15,927	6,327
Prior	26,433	20,700
Revolving Loans	4,750
Recording investment gross of allowance for credit losses	411,882	410,808
60%-69.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	157,479	344,110
One Year Prior	384,215	681,996
Two Year Prior	722,076	243,800
Three Year Prior	171,138	219,593
Four Year Prior	184,557	61,757
Prior	354,110	305,175
Revolving Loans	0
Recording investment gross of allowance for credit losses	1,973,575	1,856,431
60%-69.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	12,148	56,210
One Year Prior	56,210	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Revolving Loans	0
Recording investment gross of allowance for credit losses	68,358	56,210
70%-79.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	168,665	166,629
One Year Prior	168,913	304,386
Two Year Prior	280,825	47,388
Three Year Prior	111,458	66,148
Four Year Prior	81,919	2,409
Prior	42,730	53,336
Revolving Loans	0
Recording investment gross of allowance for credit losses	854,510	640,296
70%-79.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	0	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Revolving Loans	0
Recording investment gross of allowance for credit losses	0	0
80% or greater | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	0	0
Two Year Prior	0	0
Three Year Prior	0	3,249
Four Year Prior	3,193	0
Prior	67,964	71,472
Revolving Loans	0
Recording investment gross of allowance for credit losses	71,157	74,721
80% or greater | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	0	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Revolving Loans	0
Recording investment gross of allowance for credit losses	$ 0	$ 0

Investments (Analysis of Past D

Investments (Analysis of Past Due Commercial Mortgage, Agricultural and Other Loans) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	$ 5,404,371	$ 4,948,943
Non-Accrual Status	0	0
Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	5,404,371	4,947,614
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	1,329
90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	4,924,131	4,481,925
Non-Accrual Status	0	0
Commercial mortgage loans | Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	4,924,131	4,481,925
Commercial mortgage loans | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Commercial mortgage loans | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Commercial mortgage loans | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Agricultural Loan
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	480,240	467,018
Non-Accrual Status	0	0
Agricultural Loan | Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	480,240	465,689
Agricultural Loan | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Agricultural Loan | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	1,329
Agricultural Loan | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0	0
Loans | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Accruing Interest	$ 0	$ 0

Investments (Other Invested Ass

Investments (Other Invested Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Other Invested Assets [Line Items]
Other invested assets	$ 1,207,395	$ 1,088,613
Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	1,110,254	1,040,992
Company’s investment in separate accounts
Other Invested Assets [Line Items]
Other invested assets	410	510
Derivative Instruments
Other Invested Assets [Line Items]
Other invested assets	96,731	47,111
Equity Method | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	1,043,406	971,993
Equity Method | Private equity | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	318,342	287,969
Equity Method | Hedge funds | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	633,025	576,595
Equity Method | Real estate-related | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	92,039	107,429
Fair Value | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	66,848	68,999
Fair Value | Private equity | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	57,932	59,146
Fair Value | Hedge funds | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	253	396
Fair Value | Real estate-related | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	$ 8,663	$ 9,457

Investments (Accrued Investment

Investments (Accrued Investment Income) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Net Investment Income
Accrued investment income	$ 283,585	$ 219,635
Fixed maturities
Net Investment Income
Accrued investment income	240,885	187,628
Equity securities
Net Investment Income
Accrued investment income	220	349
Commercial mortgage and other loans
Net Investment Income
Accrued investment income	16,962	13,335
Policy loans
Net Investment Income
Accrued investment income	20,247	14,525
Other invested assets
Net Investment Income
Accrued investment income	47	48
Short-term investments and cash equivalents
Net Investment Income
Accrued investment income	$ 5,224	$ 3,750

Investments (Net Investment Inc

Investments (Net Investment Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 412,167	$ 205,293	$ 778,555	$ 394,963
Less: investment expenses	(19,092)	(13,165)	(36,030)	(23,535)
Net investment income	393,075	192,128	742,525	371,428
Equity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	2,543	1,190	5,320	1,352
Commercial mortgage and other loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	56,317	22,801	104,973	45,049
Policy loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	10,622	5,153	15,618	10,219
Other invested assets
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	15,624	38,243	41,723	75,033
Short-term investments and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	29,582	3,441	60,758	4,089
Available-for-sale | Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	275,718	121,986	510,528	231,177
Trading | Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 21,761	$ 12,479	$ 39,635	$ 28,044

Investments (Realized Investmen

Investments (Realized Investment Gains Losses, Net) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2023	Jun. 30, 2022
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	$ 7,694	$ 360,219	[1]	$ (112,985)	$ 713,500	[2]
Fixed maturities
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	(2)	(26,717)		(8,223)	(63,438)
Commercial mortgage and other loans
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	(806)	(5,756)		(2,084)	(6,359)
Other invested assets
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	7,569	1,894		13,196	3,536
Derivatives
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	600	390,746		(117,670)	779,973
Short-term investments and cash equivalents
Schedule Of Gain Loss On Investments [Line Items]
Realized Investment gains (losses), net	$ 333	$ 52		$ 1,796	$ (212)
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Investments (Net Unrealized Gai

Investments (Net Unrealized Gains Losses on Investments by Asset Class) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ (2,024,868)	$ (2,156,655)
Fixed maturities | Available-for-sale | With an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	3,781	4,371
Fixed maturities | Available-for-sale | Without an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(2,114,982)	(2,285,288)
Derivatives designated as cash flow hedges
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	99,661	138,627
Affiliated notes
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(12,179)	(13,189)
Other investments
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ (1,149)	$ (1,176)

Investments (Repurchase Agreeme

Investments (Repurchase Agreement and Securities Lending) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	$ 162,122	$ 86,750
Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	162,122	86,750
Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
30 to 90 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Foreign government bonds
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	490	506
Foreign government bonds | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	490	506
Foreign government bonds | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
U.S. public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	11,524	7,903
U.S. public corporate securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	11,524	7,903
U.S. public corporate securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Foreign public corporate securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	965	12,873
Foreign public corporate securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	965	12,873
Foreign public corporate securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	0	0
Equity securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	149,143	65,468
Equity securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	149,143	65,468
Equity securities | Up to 30 Days
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	$ 0	$ 0

Derivative Instruments (Gross N

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative, Notional Amount	$ 311,249,267	$ 196,977,180
Assets	8,298,627	7,685,050
Liabilities	(19,766,950)	(18,654,072)
Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Derivative, Notional Amount	2,011,367	1,936,568
Assets	184,327	233,812
Liabilities	(21,284)	(10,778)
Derivatives Designated as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Derivative, Notional Amount	6,172	3,225
Assets	0	0
Liabilities	(281)	(316)
Derivatives Designated as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Derivative, Notional Amount	2,005,195	1,933,343
Assets	184,327	233,812
Liabilities	(21,003)	(10,462)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Derivative, Notional Amount	309,237,900	195,040,612
Assets	8,114,300	7,451,238
Liabilities	(19,745,666)	(18,643,294)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Derivative, Notional Amount	225,661,110	138,419,110
Assets	6,500,268	6,757,890
Liabilities	(17,340,905)	(17,092,749)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Future
Derivative [Line Items]
Derivative, Notional Amount	1,397,200	2,425,500
Assets	426	3,267
Liabilities	(7,675)	(201)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Forwards
Derivative [Line Items]
Derivative, Notional Amount	730,882	364,946
Assets	4,847	590
Liabilities	(3,563)	(10,423)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit Default Swaps
Derivative [Line Items]
Derivative, Notional Amount	89,631	47,450
Assets	1,973	346
Liabilities	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Derivative, Notional Amount	2,345,911	2,289,170
Assets	152,240	194,412
Liabilities	(16,276)	(14,624)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Options
Derivative [Line Items]
Derivative, Notional Amount	40,732,315	25,187,516
Assets	1,081,712	239,003
Liabilities	(1,212,176)	(1,112,196)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Option
Derivative [Line Items]
Derivative, Notional Amount	23,248,000	8,368,000
Assets	107,941	123,168
Liabilities	(693,225)	(225,125)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Forward
Derivative [Line Items]
Derivative, Notional Amount	1,104,000	1,104,000
Assets	4,668	11,265
Liabilities	(6,719)	(12,359)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Total Return Swap
Derivative [Line Items]
Derivative, Notional Amount	13,186,165	15,958,130
Assets	255,586	120,341
Liabilities	(464,354)	(175,104)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Future
Derivative [Line Items]
Derivative, Notional Amount	742,686	876,790
Assets	4,639	956
Liabilities	$ (773)	$ (513)

Derivative Instruments (Offsett

Derivative Instruments (Offsetting Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivatives Assets
Gross Amounts of Recognized Financial Instruments	$ 8,298,627	$ 7,685,050
Gross Amounts Offset in the Consolidated Statement of Financial Position	(8,201,896)	(7,637,939)
Net Amounts Presented in the Consolidated Statement of Financial Position	96,731	47,111
Financial Instruments/Collateral	0	0
Net Amount	96,731	47,111
Securities Purchased under Agreements to Resell
Gross Amounts of Recognized Financial Instruments	0	290,000
Gross Amounts Offset in the Consolidated Statement of Financial Position	0	0
Net Amounts Presented in the Consolidated Statement of Financial Position	0	290,000
Financial Instruments/Collateral	0	(290,000)
Net Amount	0	0
Total Assets
Gross Amounts of Recognized Financial Instruments	8,298,627	7,975,050
Gross Amounts Offset in the Consolidated Statement of Financial Position	(8,201,896)	(7,637,939)
Net Amounts Presented in the Consolidated Statement of Financial Position	96,731	337,111
Financial Instruments/Collateral	0	(290,000)
Net Amount	96,731	47,111
Derivatives Liabilities
Gross Amounts of Recognized Financial Instruments	19,766,950	18,654,072
Gross Amounts Offset in the Consolidated Statement of Financial Position	(17,405,225)	(16,568,912)
Net Amounts Presented in the Consolidated Statement of Financial Position	2,361,725	2,085,160
Financial Instruments/Collateral	(2,361,725)	(2,085,160)
Net Amount	0	0
Securities Sold under Agreements to Repurchase
Gross Amounts of Recognized Financial Instruments	0	0
Gross Amounts Offset in the Consolidated Statement of Financial Position	0	0
Net Amounts Presented in the Consolidated Statement of Financial Position	0	0
Financial Instruments/Collateral	0	0
Net Amount	0	0
Total Liabilities
Gross Amounts of Recognized Financial Instruments	19,766,950	18,654,072
Gross Amounts Offset in the Consolidated Statement of Financial Position	(17,405,225)	(16,568,912)
Net Amounts Presented in the Consolidated Statement of Financial Position	2,361,725	2,085,160
Financial Instruments/Collateral	(2,361,725)	(2,085,160)
Net Amount	$ 0	$ 0

Derivative Instruments (Financi

Derivative Instruments (Financial Statement Classification and Impact of Derivatives Used in Qualifying and Non-qualifying Hedge Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	$ 600	$ 390,746	$ (114,557)	$ 779,973
Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(1,313,359)	(977,875)	(1,305,231)	(2,629,907)
Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	10,945	8,721	22,625	16,582
Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(7,081)	33,773	(17,653)	40,586
AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(18,679)	91,670	(38,966)	104,494
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(1,943)	417	572	(353)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	10,945	8,721	22,625	16,582
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(7,027)	33,483	(17,453)	40,183
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(18,679)	91,670	(38,966)	104,494
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	1	0	1	1
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(29)	4	(54)	16
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(43)	(64)	(2)	(221)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(1,944)	417	571	(354)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	10,974	8,717	22,679	16,566
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(7,027)	33,483	(17,453)	40,183
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(18,636)	91,734	(38,964)	104,715
Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	2,543	390,329	(115,129)	780,326
Derivatives Not Qualifying as Hedge Accounting Instruments: | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(1,313,359)	(977,875)	(1,305,231)	(2,629,907)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(54)	290	(200)	403
Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	63,875	238,950	15,712	483,192
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(915,225)	(1,909,364)	(707,165)	(3,779,544)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(5,416)	15,504	(12,026)	19,801
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(23,601)	114,645	(36,322)	112,937
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(54)	290	(200)	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	1,392	(38,726)	2,326	(41,449)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	403
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	947,017	1,788	1,143,892	174,900
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(398,134)	931,489	(598,066)	1,149,637
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivatives | Realized Investment Gains (Losses)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	(980,724)	58,168	(1,228,711)	30,945
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivatives | Market Risk Benefit, Increase (Decrease) from Equity Market Change)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivatives | Net Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivatives | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	0	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivatives | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivatives, net	$ 0	$ 0	$ 0	$ 0

Derivative Instruments (Current

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Cash flow hedgers in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Balance, beginning	$ 138,627
Amount Recorded in AOCI	(33,222)
Amounts reclassified into current period earnings	(5,744)
Balance, ending	99,661
Interest Rate | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount Recorded in AOCI	(55)
Amounts reclassified into current period earnings	53
Currency/Interest Rate | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount Recorded in AOCI	(33,167)
Amounts reclassified into current period earnings	$ (5,797)

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 19
Credit Default Swaps Referencing Indices, Sell Protection
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	90	$ 47
Credit Risk Derivatives, at Fair Value, Net Asset	2	0
Credit Default Swaps Referencing Indices, Sell Protection | NAIC 3
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	46
Credit Default Swaps Referencing Indices, Sell Protection | NAIC 6
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	44
Policyholders' account balances
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	(5,513)	(3,502)
Other Assets
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	218	141
Other liabilities
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net	$ (26)	$ (10)

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	$ 23,441,750	$ 19,025,401
Market risk benefits assets	2,340,230	1,393,237	[1]	$ 1,423,000
Fixed maturities, trading	2,477,679	1,936,159
Equity securities	379,574	143,072
Other invested assets	1,207,395	1,088,613
Other assets	1,787,731	1,331,427	[1]
Reinsurance recoverables	37,667,480	37,096,562	[1]
Receivables from parent and affiliates	267,218	224,921
Separate account assets	117,840,155	114,051,246
TOTAL ASSETS	205,566,500	193,473,118
Market risk benefit liabilities	5,089,766	5,521,601	[1]	$ 6,686,000
Payables to parent and affiliates	2,370,004	2,126,571
Other liabilities	4,540,528	3,597,373	[1]
Total liabilities	199,895,847	188,436,923
Fair Value, Measurements, Recurring
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	23,441,750	19,025,401
Market risk benefits assets	2,340,230	1,393,237
Fixed maturities, trading	2,477,679	1,936,159
Equity securities	379,574	143,072
Short-term investments	239,607	98,160
Cash equivalents	1,092,394	1,432,182
Other invested assets	96,731	47,111
Other assets	217,613	141,041
Reinsurance recoverables	1,465	0
Receivables from parent and affiliates	145,661	148,075
Subtotal excluding separate account assets	30,432,704	24,364,438
Separate account assets	113,035,272	108,789,313
TOTAL ASSETS	143,467,976	133,153,751
Market risk benefit liabilities	5,089,766	5,521,601
Policyholders’ account balances	5,513,449	3,502,096
Payables to parent and affiliates	2,354,472	2,084,917
Other liabilities	(18,307)	(9,267)
Total liabilities	12,939,380	11,099,347
Assets netting	(8,201,896)	(7,637,939)
Liabilities netting	(17,405,225)	(16,568,912)
Netting	(9,203,000)	(8,931,000)
Fair Value, Measurements, Recurring | Other invested assets
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets netting	(8,201,896)	(7,637,939)
Fair Value, Measurements, Recurring | Payables to parent and affiliates
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities netting	(17,404,023)	(16,568,242)
Fair Value, Measurements, Recurring | Other liabilities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities netting	(1,202)	(670)
Fair Value, Measurements, Recurring | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	324,261	281,792
Fair Value, Measurements, Recurring | Obligations of U.S. states and their political subdivisions
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	777,091	628,200
Fair Value, Measurements, Recurring | Foreign government bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	288,308	273,462
Fair Value, Measurements, Recurring | U.S. corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	8,884,883	6,443,944
Fair Value, Measurements, Recurring | U.S. corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	4,327,905	3,816,729
Fair Value, Measurements, Recurring | Foreign corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	1,719,452	1,378,222
Fair Value, Measurements, Recurring | Foreign corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	4,039,723	3,766,330
Fair Value, Measurements, Recurring | Asset-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	1,897,566	1,442,354
Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	780,105	658,152
Fair Value, Measurements, Recurring | Residential mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	402,456	336,216
Fair Value, Measurements, Recurring | Level 1
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Market risk benefits assets	0	0
Fixed maturities, trading	0	0
Equity securities	145,759	108,076
Short-term investments	49,804	0
Cash equivalents	0	0
Other invested assets	95,126	4,223
Other assets	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	0	0
Subtotal excluding separate account assets	290,689	112,299
Separate account assets	114,988	102,243
TOTAL ASSETS	405,677	214,542
Market risk benefit liabilities	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	0	0
Other liabilities	8,448	899
Total liabilities	8,448	899
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Obligations of U.S. states and their political subdivisions
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	22,573,463	18,412,457
Market risk benefits assets	0	0
Fixed maturities, trading	2,477,679	1,936,159
Equity securities	190,441	6,403
Short-term investments	188,594	81,215
Cash equivalents	1,092,394	1,432,182
Other invested assets	8,203,501	7,680,827
Other assets	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	145,661	148,075
Subtotal excluding separate account assets	34,871,733	29,697,318
Separate account assets	112,915,302	108,682,425
TOTAL ASSETS	147,787,035	138,379,743
Market risk benefit liabilities	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	19,758,495	18,653,159
Other liabilities	(25,553)	(9,496)
Total liabilities	19,732,942	18,643,663
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	324,261	281,792
Fair Value, Measurements, Recurring | Level 2 | Obligations of U.S. states and their political subdivisions
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	777,091	628,200
Fair Value, Measurements, Recurring | Level 2 | Foreign government bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	287,607	272,738
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	8,884,883	6,443,944
Fair Value, Measurements, Recurring | Level 2 | U.S. corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	3,989,251	3,573,269
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	1,712,484	1,371,354
Fair Value, Measurements, Recurring | Level 2 | Foreign corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	3,664,098	3,509,162
Fair Value, Measurements, Recurring | Level 2 | Asset-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	1,831,879	1,421,852
Fair Value, Measurements, Recurring | Level 2 | Commercial mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	699,453	573,930
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	402,456	336,216
Fair Value, Measurements, Recurring | Level 3
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	868,287	612,944
Market risk benefits assets	2,340,230	1,393,237
Fixed maturities, trading	0	0
Equity securities	43,374	28,593
Short-term investments	1,209	16,945
Cash equivalents	0	0
Other invested assets	0	0
Other assets	217,613	141,041
Reinsurance recoverables	1,465	0
Receivables from parent and affiliates	0	0
Subtotal excluding separate account assets	3,472,178	2,192,760
Separate account assets	4,982	4,645
TOTAL ASSETS	3,477,160	2,197,405
Market risk benefit liabilities	5,089,766	5,521,601
Policyholders’ account balances	5,513,449	3,502,096
Payables to parent and affiliates	0	0
Other liabilities	0	0
Total liabilities	10,603,215	9,023,697
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 3 | Obligations of U.S. states and their political subdivisions
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	701	724
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	338,654	243,460
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	6,968	6,868
Fair Value, Measurements, Recurring | Level 3 | Foreign corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	375,625	257,168
Fair Value, Measurements, Recurring | Level 3 | Asset-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	65,687	20,502
Fair Value, Measurements, Recurring | Level 3 | Commercial mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	80,652	84,222
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	0	0
Other invested assets
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value investment measured at NAV per share	67,000	69,000
Separate account assets
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value investment measured at NAV per share	$ 4,805,000	$ 5,262,000
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities (Quantitative Info for Level 3 Inputs) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Corporate securities	$ 376,623	$ 148,179
Market risk benefits assets	2,340,230	1,393,237	[1]	$ 1,423,000
Market risk benefit liabilities	5,089,766	5,521,601	[1]	$ 6,686,000
Fair Value, Measurements, Recurring
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Market risk benefits assets	2,340,230	1,393,237
Market risk benefit liabilities	5,089,766	5,521,601
Policyholders’ account balances	5,513,449	3,502,096
Level 3
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Funds held under reinsurance agreements	$ 10,000,000
Level 3 | Minimum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Policyholder Age	50 years
Level 3 | Minimum | Market risk benefit liabilities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Mortality rate	0%
Level 3 | Maximum
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Fair Value Inputs, Policyholder Age	90 years
Level 3 | Fair Value, Measurements, Recurring
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Market risk benefits assets	$ 2,340,230	1,393,237
Market risk benefit liabilities	5,089,766	5,521,601
Policyholders’ account balances	$ 5,513,449	$ 3,502,096
Level 3 | Internal | Minimum | Discounted cash flow | Market risk benefit liabilities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1%	1%
Spread over SOFR	0.57%	0.50%
Utilization rate	38%	38%
Withdrawal rate (greater than maximum range)	81%	77%
Mortality rate	0%	0%
Equity volatility curve	15%	18%
Level 3 | Internal | Minimum | Discounted cash flow | Policyholders' account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1%	1%
Spread over SOFR	0.57%	0.22%
Mortality rate	0%	0%
Equity volatility curve	6%	6%
Option budget	(1.00%)	(2.00%)
Level 3 | Internal | Minimum | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	5.82%	9.77%
Level 3 | Internal | Minimum | Discounted cash flow | Market risk benefit assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1%	1%
Spread over SOFR	0.57%	0.50%
Utilization rate	38%	38%
Withdrawal rate (greater than maximum range)	81%	77%
Mortality rate	0%	0%
Equity volatility curve	15%	18%
Level 3 | Internal | Minimum | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples		2.2
Level 3 | Internal | Minimum | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	64.71%
Level 3 | Internal | Maximum | Discounted cash flow | Market risk benefit liabilities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	20%	20%
Spread over SOFR	2.26%	2.20%
Utilization rate	95%	95%
Withdrawal rate (greater than maximum range)	100%	100%
Mortality rate	15%	15%
Equity volatility curve	25%	26%
Level 3 | Internal | Maximum | Discounted cash flow | Policyholders' account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	80%	80%
Spread over SOFR	2.32%	2.26%
Mortality rate	23%	23%
Equity volatility curve	27%	30%
Option budget	6%	6%
Level 3 | Internal | Maximum | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	20%	20%
Level 3 | Internal | Maximum | Discounted cash flow | Market risk benefit assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	20%	20%
Spread over SOFR	2.26%	2.20%
Utilization rate	95%	95%
Withdrawal rate (greater than maximum range)	100%	100%
Mortality rate	15%	15%
Equity volatility curve	25%	26%
Level 3 | Internal | Maximum | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples		23.5
Level 3 | Internal | Maximum | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	64.71%
Level 3 | Internal | Weighted Average | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	9.10%	16.53%
Level 3 | Internal | Weighted Average | Market comparables | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
EBITDA multiples		8.1
Level 3 | Internal | Weighted Average | Liquidation | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidation value	64.71%
Level 3 | Internal | Fair Value, Measurements, Recurring | Market risk benefit liabilities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Market risk benefit liabilities	$ 5,089,766	$ 5,521,601
Level 3 | Internal | Fair Value, Measurements, Recurring | Policyholders' account balances
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Policyholders’ account balances	5,513,449	3,502,096
Level 3 | Internal | Fair Value, Measurements, Recurring | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Corporate securities	599,010	408,494
Level 3 | Internal | Fair Value, Measurements, Recurring | Market risk benefit assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Market risk benefits assets	$ 2,340,230	$ 1,393,237
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities (Changes in Level 3 Assets and Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	[1]
Unrealized gains (losses) for assets/liabilities still held:
Market risk benefits assets	$ 2,340,230	$ 1,423,000	$ 2,340,230	$ 1,423,000	$ 1,393,237
Market risk benefit liabilities	5,089,766	6,686,000	5,089,766	6,686,000	$ 5,521,601
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	43,174	11,463	28,593	12,472
Purchases	0	10,000	0	10,000
Sales	0	(230)	0	(230)
Issuances	0	0	0	0
Settlements	0	0	0	0
Other	181	9,661	15,592	9,661
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	43,374	29,783	43,374	29,783
Total gains (losses) (realized/unrealized):
Included in earnings	19	(1,111)	(811)	(2,120)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	19	(1,129)	(811)	(2,138)
Equity securities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Equity securities | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	19	(1,111)	(811)	(2,120)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	19	(1,129)	(811)	(2,138)
Equity securities | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Equity securities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Equity securities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Short-term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	14,416	0	16,945	0
Purchases	1,146	2,766	2,688	2,766
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(13,711)	(54)	(19,638)	(54)
Other	(1,359)	0	(1,359)	0
Transfers into Level 3	0	55	0	55
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	1,209	2,772	1,209	2,772
Total gains (losses) (realized/unrealized):
Included in earnings	717	5	2,573	5
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	51	0
Short-term investments | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	423	0	1,857	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Short-term investments | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Short-term investments | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Short-term investments | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	(124)	0	(73)	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	51	0
Short-term investments | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	418	5	789	5
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	155,763	75,201	141,041	72,937
Purchases	38,983	(6,574)	73,603	1,241
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	(3,514)	(819)	(5,051)	(2,657)
Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	217,613	75,858	217,613	75,858
Total gains (losses) (realized/unrealized):
Included in earnings	26,381	8,050	8,020	4,337
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	19,779	7,231	2,969	1,679
Other assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	26,381	8,050	8,020	4,337
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	19,779	7,231	2,969	1,679
Other assets | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Other assets | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Other assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Other assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Reinsurance Recoverables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	1,357	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	1,465	0	1,465	0
Total gains (losses) (realized/unrealized):
Included in earnings	108	0	1,465	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	108	0	1,465	0
Reinsurance Recoverables | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	108	0	1,465	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	108	0	1,465	0
Reinsurance Recoverables | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Reinsurance Recoverables | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Reinsurance Recoverables | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Reinsurance Recoverables | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Separate account assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	4,553	0	4,645	0
Purchases	840	0	840	0
Sales	(420)	0	(600)	0
Issuances	0	0	0	0
Settlements	(150)	0	(160)	0
Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	4,982	0	4,982	0
Total gains (losses) (realized/unrealized):
Included in earnings	159	0	257	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	159	0	255	0
Separate account assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Separate account assets | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Separate account assets | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	159		257
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	159		255
Separate account assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Separate account assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Policyholders' account balances
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(4,129,043)	(3,260,195)	(3,502,096)	(3,245,773)
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	(439,615)	0	(838,238)	0
Settlements	0	(238,575)	0	(391,366)
Other	72,773	0	74,368	239,022
Transfers Into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	(5,513,449)	(3,427,667)	(5,513,449)	(3,427,667)
Total gains (losses) (realized/unrealized):
Included in earnings	(1,017,564)	71,103	(1,247,483)	(29,550)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(150,676)	(341,035)	(234,970)	(492,251)
Policyholders' account balances | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(1,017,564)	71,103	(1,247,483)	(29,550)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(150,676)	(341,035)	(234,970)	(492,251)
Policyholders' account balances | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Policyholders' account balances | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Policyholders' account balances | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Policyholders' account balances | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Available-for-sale | Fixed maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(1,138)	(1,909)	(813)	(16,812)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(1,118)	631	(2,019)	(14,380)
Available-for-sale | Fixed maturities | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Available-for-sale | Fixed maturities | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Available-for-sale | Fixed maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	3,476	(21,240)	4,440	(55,081)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	3,359	(21,518)	5,275	(54,957)
Available-for-sale | Fixed maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	(39)	(53)	350	330
Available-for-sale | Fixed maturities | Foreign government bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	714	140	724	150
Purchases	0	0	0	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Fair Value, end of period	701	135	701	135
Total gains (losses) (realized/unrealized):
Included in earnings	(13)	(5)	(23)	(15)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(16)	(5)	(28)	(15)
Available-for-sale | Fixed maturities | Corporate securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	535,893	385,358	507,496	385,634
Purchases	216,778	83,901	310,874	133,311
Sales	(9,241)	(11,217)	(28,839)	(12,388)
Issuances	0	0	0	0
Settlements	(25,418)	(21,195)	(76,842)	(33,335)
Other	1,359	0	1,359	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	(106,124)	0	(106,124)
Fair Value, end of period	721,247	317,878	721,247	317,878
Total gains (losses) (realized/unrealized):
Included in earnings	1,876	(12,845)	7,199	(49,220)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1,773	(10,577)	6,413	(47,042)
Available-for-sale | Fixed maturities | Structured securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	228,869	112,116	104,724	173,944
Purchases	1,291	33,490	147,307	33,490
Sales	0	0	(27)	0
Issuances	0	0	0	0
Settlements	(725)	(571)	(1,338)	(1,073)
Other	0	0	0	0
Transfers into Level 3	0	0	2,240	0
Transfers out of Level 3	(83,532)	(11,395)	(103,368)	(60,745)
Fair Value, end of period	146,339	123,288	146,339	123,288
Total gains (losses) (realized/unrealized):
Included in earnings	436	(10,352)	(3,199)	(22,328)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	484	(10,305)	(3,129)	(22,280)
Trading | Fixed maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	6,250	0	0	0
Purchases	0	0	6,250	0
Sales	0	0	0	0
Issuances	0	0	0	0
Settlements	0	0	0	0
Other	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	(6,250)	0	(6,250)	0
Fair Value, end of period	0	0	0	0
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Trading | Fixed maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Trading | Fixed maturities | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Trading | Fixed maturities | Interest credited to policyholders’ account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0		0
Trading | Fixed maturities | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0	0	0
Trading | Fixed maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	$ 0	$ 0	$ 0	$ 0
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities (Nonrecurring Fair Value Measurements) (Details) - Level 3 - Fair Value, Nonrecurring - Investment in Joint Venture - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity in earnings of operating joint venture, net of taxes	$ 0	$ (75,000)	$ 0	$ (75,000)
Carrying value after measurement as of period end	$ 0		$ 0		$ 60,456

Fair Value of Assets and Liab_7

Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Policy loans	$ 1,432,850	$ 505,367
Cash and cash equivalents	1,780,991	2,397,627
Accrued investment income	283,585	219,635
Reinsurance recoverables	37,667,480	37,096,562	[1]
Receivables from parent and affiliates	267,218	224,921
Liabilities [Abstract]
Cash collateral for loaned securities	162,122	86,750
Fair Value
Assets:
Commercial mortgage and other loans	5,054,111	4,602,177
Policy loans	1,432,850	505,367
Short-term investments	68,756	26,331
Cash and cash equivalents	688,597	965,445
Accrued investment income	283,585	219,635
Reinsurance recoverables	23,550	25,127
Receivables from parent and affiliates	121,557	76,846
Other assets	1,263,387	824,882
Total assets	8,936,393	7,245,810
Liabilities [Abstract]
Policyholders’ account balances - investment contracts	5,222,559	4,333,271
Cash collateral for loaned securities	162,122	86,750
Short-term debt to affiliates	294,570	120,325
Long-term debt to affiliates	0	173,905
Payables to parent and affiliates	15,532	41,654
Other liabilities	1,705,683	1,302,865
Total liabilities	7,400,466	6,058,770
Carrying Amount
Assets:
Commercial mortgage and other loans	5,382,278	4,928,680
Policy loans	1,432,850	505,367
Short-term investments	68,756	26,331
Cash and cash equivalents	688,597	965,445
Accrued investment income	283,585	219,635
Reinsurance recoverables	25,682	27,183
Receivables from parent and affiliates	121,557	76,846
Other assets	1,263,387	824,882
Total assets	9,266,692	7,574,369
Liabilities [Abstract]
Policyholders’ account balances - investment contracts	5,243,834	4,351,945
Cash collateral for loaned securities	162,122	86,750
Short-term debt to affiliates	307,123	126,250
Long-term debt to affiliates	0	185,563
Payables to parent and affiliates	15,532	41,654
Other liabilities	1,705,683	1,302,866
Total liabilities	7,434,294	6,095,028
Level 1 | Fair Value
Assets:
Commercial mortgage and other loans	0	0
Policy loans	0	0
Short-term investments	68,756	26,331
Cash and cash equivalents	688,597	675,445
Accrued investment income	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	0	0
Other assets	0	0
Total assets	757,353	701,776
Liabilities [Abstract]
Policyholders’ account balances - investment contracts	0	0
Cash collateral for loaned securities	0	0
Short-term debt to affiliates	0	0
Long-term debt to affiliates	0	0
Payables to parent and affiliates	0	0
Other liabilities	0	0
Total liabilities	0	0
Level 2 | Fair Value
Assets:
Commercial mortgage and other loans	0	0
Policy loans	0	0
Short-term investments	0	0
Cash and cash equivalents	0	290,000
Accrued investment income	283,585	219,635
Reinsurance recoverables	0	0
Receivables from parent and affiliates	121,557	76,846
Other assets	54,945	94,200
Total assets	460,087	680,681
Liabilities [Abstract]
Policyholders’ account balances - investment contracts	1,074,738	1,192,271
Cash collateral for loaned securities	162,122	86,750
Short-term debt to affiliates	294,570	120,325
Long-term debt to affiliates	0	173,905
Payables to parent and affiliates	15,532	41,654
Other liabilities	1,673,260	1,269,615
Total liabilities	3,220,222	2,884,520
Level 3 | Fair Value
Assets:
Commercial mortgage and other loans	5,054,111	4,602,177
Policy loans	1,432,850	505,367
Short-term investments	0	0
Cash and cash equivalents	0	0
Accrued investment income	0	0
Reinsurance recoverables	23,550	25,127
Receivables from parent and affiliates	0	0
Other assets	1,208,442	730,682
Total assets	7,718,953	5,863,353
Liabilities [Abstract]
Policyholders’ account balances - investment contracts	4,147,821	3,141,000
Cash collateral for loaned securities	0	0
Short-term debt to affiliates	0	0
Long-term debt to affiliates	0	0
Payables to parent and affiliates	0	0
Other liabilities	32,423	33,250
Total liabilities	$ 4,180,244	$ 3,174,250
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Deferred Policy Acquisition C_3

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Balance of and Changes in DAC) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023		Jun. 30, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	$ 6,930,425	[1]	$ 7,029,307
Capitalization	513,893		489,077
Amortization expense	(266,642)		(255,964)
Other adjustments	(393,385)		(541,406)
Balance, end of period	6,784,291		6,721,014
Fixed Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	102,251		84,479
Capitalization	48,552		3,202
Amortization expense	(9,490)		(6,773)
Other adjustments	0		0
Balance, end of period	141,313		80,908
Variable Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	3,736,454		3,806,733
Capitalization	117,342		155,694
Amortization expense	(166,332)		(171,593)
Other adjustments	(393,385)		0
Balance, end of period	3,294,079		3,790,834
Term Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	648,837		577,084
Capitalization	72,216		66,040
Amortization expense	(31,084)		(26,020)
Other adjustments	0		2
Balance, end of period	689,969		617,106
Variable/Universal Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	2,442,883		2,561,011
Capitalization	275,783		264,141
Amortization expense	(59,736)		(51,578)
Other adjustments	0		(541,408)
Balance, end of period	$ 2,658,930		$ 2,232,166
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Deferred Policy Acquisition C_4

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Balance of and Changes in Deferred Reinsurance Losses) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 292,893	$ 333,003
Amortization expense	(19,393)	(19,995)
Balance, end of period	273,500	313,008
Variable Annuities
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	223,515	254,577
Amortization expense	(15,113)	(15,399)
Balance, end of period	208,402	239,178
Term Life
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	69,378	78,426
Amortization expense	(4,280)	(4,596)
Balance, end of period	$ 65,098	$ 73,830

Deferred Policy Acquisition C_5

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Balance of and Changes in Deferred Reinsurance Gain) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	$ 1,492,856	$ 252,736
Amortization	(45,647)	(46,353)
Other adjustments	277,262	1,326,509
Balance, end of period	1,724,471	1,532,892
Lotus Re
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Other adjustments		1,352,000
Variable/Universal Life
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	1,434,958	174,598
Amortization	(36,032)	(43,159)
Other adjustments	0	1,340,312
Balance, end of period	1,398,926	1,471,751
Fixed Annuities
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	57,898	78,138
Amortization	(4,406)	(3,194)
Other adjustments	0	(13,803)
Balance, end of period	53,492	61,141
Variable Annuities
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	0	0
Amortization	(5,209)	0
Other adjustments	277,262	0
Balance, end of period	$ 272,053	$ 0

Deferred Policy Acquisition C_6

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Balance of and Changes in DSI) (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of period	[1]	$ 381,504
Balance, end of period		366,916
Variable Annuities
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of period		381,504	$ 414,619
Capitalization		1,503	664
Amortization expense		(16,088)	(17,191)
Other		(3)	0
Balance, end of period		$ 366,916	$ 398,092
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Separate Accounts (Separate Acc

Separate Accounts (Separate Account Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 117,840,155	$ 114,051,246
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Fair Value, Separate Account Investment [Line Items]
Separate account assets	2,948	2,510
U.S. corporate securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	5,038	8,702
Foreign corporate securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	1,796	1,420
Mortgage-backed securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	282	276
Equity
Fair Value, Separate Account Investment [Line Items]
Separate account assets	71,084,752	67,144,660
Fixed Income
Fair Value, Separate Account Investment [Line Items]
Separate account assets	37,875,086	38,109,374
Other
Fair Value, Separate Account Investment [Line Items]
Separate account assets	3,967,348	3,441,016
Equity securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	83,396	49,260
Other invested assets
Fair Value, Separate Account Investment [Line Items]
Separate account assets	4,805,171	5,262,178
Short-term investments
Fair Value, Separate Account Investment [Line Items]
Separate account assets	1,691	1,237
Cash and cash equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 12,647	$ 30,613

Separate Accounts (Separate A_2

Separate Accounts (Separate Account Liabilities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Separate Account, Liability [Roll Forward]
Balance, beginning of period	$ 114,051,246	$ 149,797,828
Deposits	1,577,513	1,532,986
Investment performance	9,719,802	(25,652,963)
Policy charges	(1,576,563)	(1,693,624)
Surrenders and withdrawals	(4,776,319)	(4,772,960)
Benefit payments	(150,697)	(169,961)
Net transfers (to) from separate account	(1,040,549)	(284,135)
Other	35,722	34,948
Balance, end of period	117,840,155	118,792,119
Cash surrender value	113,562,296	114,386,497
Variable Annuities
Separate Account, Liability [Roll Forward]
Balance, beginning of period	91,785,448	123,977,624
Deposits	200,961	392,364
Investment performance	7,184,460	(21,112,961)
Policy charges	(1,171,455)	(1,315,427)
Surrenders and withdrawals	(4,561,633)	(4,594,845)
Benefit payments	(43,056)	(35,662)
Net transfers (to) from separate account	(4,995)	(157,771)
Other	5,405	6,241
Balance, end of period	93,395,135	97,159,563
Cash surrender value	92,036,034	95,384,568
Variable Life
Separate Account, Liability [Roll Forward]
Balance, beginning of period	22,265,798	25,820,204
Deposits	1,376,552	1,140,622
Investment performance	2,535,342	(4,540,002)
Policy charges	(405,108)	(378,197)
Surrenders and withdrawals	(214,686)	(178,115)
Benefit payments	(107,641)	(134,299)
Net transfers (to) from separate account	(1,035,554)	(126,364)
Other	30,317	28,707
Balance, end of period	24,445,020	21,632,556
Cash surrender value	21,526,262	$ 19,001,929
Policy loan funding to an affiliated irrevocable trust | Variable Life
Separate Account, Liability [Roll Forward]
Net transfers (to) from separate account	$ (900,000)

Liability For Future Policy B_3

Liability For Future Policy Benefits (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition	$ 18,190,646	$ 19,163,296
Balance, end of period, post flooring	20,869,105	19,991,100
Interest accrual	237,869	203,986
Other Businesses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance after transition	1,941	2,235
Nonparticipating Traditional And Limited-Pay Business
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Gain in net income	(30,000)	(97,000)
Loss in net income	30,000	99,000
Term Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	10,911,794	12,485,056
Effect of cumulative changes in discount rate assumptions, beginning of period	554,896	(1,826,120)
Balance at original discount rate, beginning of period	11,466,690	10,658,936
Effect of assumption update			$ (790)	$ 1,295,294
Effect of actual variances from expected experience and other activity			(65,230)	(84,412)
Adjusted balance, beginning of period	11,400,670	11,869,818
Issuances	318,867	187,092
Net premiums / considerations collected	(674,147)	(657,195)
Interest accrual	261,862	257,706
Balance at original discount rate, end of period	11,307,252	11,657,421
Effect of cumulative changes in discount rate assumptions, end of period	(484,287)	22,765
Balance, end of period	10,822,965	11,680,186
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition	17,835,251	20,937,097
Effect of cumulative changes in discount rate assumptions, beginning of period	962,034	(3,607,275)
Balance prior to transition	18,797,285	17,329,822
Effect of assumption update			(1,044)	1,756,995
Effect of actual variances from expected experience and other activity			(87,110)	(167,637)
Adjusted balance, beginning of period	18,709,131	18,919,180
Issuances	318,867	187,092
Interest accrual	447,387	436,119
Benefit payments	(716,919)	(738,715)
Other adjustments	1,558	1,781
Balance after transition, at original discount rate	18,760,024	18,805,457
Effect of cumulative changes in discount rate assumptions, end of period	(791,413)	144,406
Balance after transition	17,968,611	18,949,863
Balance, end of period, post flooring	7,145,646	7,269,677
Reinsurance recoverable	6,614,071	6,847,216
Balance after reinsurance recoverable, end of period, post-flooring	531,575	422,461
Term Life | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Undiscounted expected future gross premiums	21,948,491	22,348,506
Discounted expected future gross premiums (at original discount rate)	15,125,847	15,414,984
Discounted expected future gross premiums (at current discount rate)	14,493,623	15,442,782
Undiscounted expected future benefits and expenses	29,156,389	29,470,523
Interest accrual	185,524	178,413
Gross Premiums	$ 900,634	$ 925,202
Weighted-average duration of the liability in years (at original discount rate)	10 years	11 years
Weighted-average duration of the liability in years (at current discount rate)	10 years	10 years
Weighted-average interest rate (at original discount rate)	5.20%	5.28%
Weighted-average interest rate (at current discount rate)	5.28%	4.63%
Fixed Annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 0	$ 0
Effect of cumulative changes in discount rate assumptions, beginning of period	0	0
Balance at original discount rate, beginning of period	0	0
Effect of assumption update			0	0
Effect of actual variances from expected experience and other activity			(1,257)	(78)
Adjusted balance, beginning of period	(1,257)	(78)
Issuances	23,211	17,356
Net premiums / considerations collected	(21,954)	(17,278)
Interest accrual	0	0
Balance at original discount rate, end of period	0	0
Effect of cumulative changes in discount rate assumptions, end of period	0	0
Balance, end of period	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition	204,727	237,065
Effect of cumulative changes in discount rate assumptions, beginning of period	24,876	(16,704)
Balance prior to transition	229,603	220,361
Effect of assumption update			0	0
Effect of actual variances from expected experience and other activity			4,195	351
Adjusted balance, beginning of period	233,798	220,712
Issuances	23,211	17,357
Interest accrual	4,201	3,809
Benefit payments	(14,838)	(13,658)
Other adjustments	(33)	(285)
Balance after transition, at original discount rate	246,339	227,935
Effect of cumulative changes in discount rate assumptions, end of period	(26,245)	(16,737)
Balance after transition	220,094	211,198
Balance, end of period, post flooring	220,094	211,198
Reinsurance recoverable	17,835	16,488
Balance after reinsurance recoverable, end of period, post-flooring	202,259	194,710
Fixed Annuities | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Undiscounted expected future gross premiums	0	0
Discounted expected future gross premiums (at original discount rate)	0	0
Discounted expected future gross premiums (at current discount rate)	0	0
Undiscounted expected future benefits and expenses	328,414	302,195
Interest accrual	4,201	3,809
Gross Premiums	$ 24,200	$ 19,545
Weighted-average duration of the liability in years (at original discount rate)	7 years	7 years
Weighted-average duration of the liability in years (at current discount rate)	6 years	6 years
Weighted-average interest rate (at original discount rate)	3.57%	3.44%
Weighted-average interest rate (at current discount rate)	5.27%	4.54%
Term Life And Fixed Annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 10,911,794	$ 12,485,056
Effect of cumulative changes in discount rate assumptions, beginning of period	554,896	(1,826,120)
Balance at original discount rate, beginning of period	11,466,690	10,658,936
Effect of assumption update			(790)	1,295,294
Effect of actual variances from expected experience and other activity			(66,487)	(84,490)
Adjusted balance, beginning of period	11,399,413	11,869,740
Issuances	342,078	204,448
Net premiums / considerations collected	(696,101)	(674,473)
Interest accrual	261,862	257,706
Balance at original discount rate, end of period	11,307,252	11,657,421
Effect of cumulative changes in discount rate assumptions, end of period	(484,287)	22,765
Balance, end of period	10,822,965	11,680,186
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, end of period, post flooring	7,365,740	7,480,875
Reinsurance recoverable	6,631,906	6,863,704
Balance after reinsurance recoverable, end of period, post-flooring	733,834	617,171
Term Life And Fixed Annuities | Total
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance prior to transition	18,039,978	21,174,162
Effect of cumulative changes in discount rate assumptions, beginning of period	986,910	(3,623,979)
Balance prior to transition	19,026,888	17,550,183
Effect of assumption update			(1,044)	1,756,995
Effect of actual variances from expected experience and other activity			$ (82,915)	$ (167,286)
Adjusted balance, beginning of period	18,942,929	19,139,892
Issuances	342,078	204,449
Interest accrual	451,588	439,928
Benefit payments	(731,757)	(752,373)
Other adjustments	1,525	1,496
Balance after transition, at original discount rate	19,006,363	19,033,392
Effect of cumulative changes in discount rate assumptions, end of period	(817,658)	127,669
Balance after transition	$ 18,188,705	$ 19,161,061

Liability For Future Policy B_4

Liability For Future Policy Benefits (Deferred Profit Liability) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, end of period	$ 20,869,105	$ 19,991,100
Deferred profit liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue	3,691	(867)
Fixed Annuities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Effect of actual variances from expected experience and other activity			$ 4,195	$ 351
Adjusted balance, beginning of period			233,798	220,712
Interest accrual	4,201	3,809
Other adjustments	(33)	(285)
Balance, end of period	220,094	211,198
Reinsurance recoverable	17,835	16,488
Balance after reinsurance recoverable, end of period, post-flooring	202,259	194,710
Fixed Annuities | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue	24,200	19,545
Fixed Annuities | Deferred profit liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	18,193	15,765
Effect of actual variances from expected experience and other activity			(5,092)	(607)
Adjusted balance, beginning of period			$ 13,101	$ 15,158
Profits deferred	2,088	2,173
Interest accrual	294	276
Amortization	(973)	(950)
Other adjustments	(8)	(25)
Balance, end of period	14,502	16,632
Reinsurance recoverable	1,558	1,722
Balance after reinsurance recoverable, end of period, post-flooring	12,944	14,910
Revenue	3,691	(867)
Fixed Annuities | Deferred profit liability | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Interest accrual	294	276
Revenue	$ 3,691	$ (867)

Liability For Future Policy B_5

Liability For Future Policy Benefits (Additional Insurance Reserves) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Insurance [Abstract]
Balance, including amounts in AOCI, post-flooring	$ 12,664,445	$ 11,660,527
Flooring impact and amounts in AOCI	1,269,237	(896,930)
Balance, excluding amounts in AOCI, beginning of period, pre-flooring	13,933,682	10,763,597
Effect of assumption update			$ 22,910	$ 2,197,592
Effect of actual variances from expected experience and other activity			26,204	(157,782)
Adjusted balance, beginning of period			$ 13,982,796	$ 12,803,407
Assessments collected	513,593	446,443
Interest accrual	237,869	203,986
Benefits paid	(151,097)	(100,856)
Balance, excluding amounts in AOCI, end of period, pre-flooring	14,583,161	13,352,980
Flooring impact and amounts in AOCI	(1,094,298)	(859,387)
Balance after Transition	13,488,863	12,493,593
Amounts related to unrealized investment gains and losses after transition	13,268,534	12,282,253
Additional Liability, Long-Duration Insurance, after Reinsurance	220,329	211,340
Gross assessments	$ 785,370	$ 627,513
Weighted-average duration of the liability in years (at original discount rate)	22 years	23 years
Weighted-average interest rate (at original discount rate)	3.39%	3.72%

Liability For Future Policy B_6

Liability For Future Policy Benefits (Future Policy Benefits) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021
Insurance [Abstract]
Benefit reserves, end of period, post-flooring	$ 7,365,740			$ 7,480,875
Deferred profit liability, end of period, post-flooring	14,502			16,632
Additional insurance reserves, including amounts in AOCI, end of period, post-flooring	13,488,863	$ 12,664,445		12,493,593	$ 11,660,527
Subtotal of amounts disclosed above	20,869,105			19,991,100
Other Future Policy Benefits reserves	1,108,889			1,035,166
Total Future policy Benefits	$ 21,977,994	$ 20,829,033	[1]	$ 21,026,266
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Liability For Future Policy B_7

Liability For Future Policy Benefits (Revenue and Interest Expense) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Benefit Reserves
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	$ 924,834	$ 944,747
Interest expense	189,725	182,222
Benefit Reserves | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0
Interest expense	0	0
Benefit Reserves | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	900,634	925,202
Interest expense	185,524	178,413
Benefit Reserves | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	24,200	19,545
Interest expense	4,201	3,809
Additional insurance reserves
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	785,370	627,513
Interest expense	237,869	203,986
Additional insurance reserves | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	785,370	627,513
Interest expense	237,869	203,986
Additional insurance reserves | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0
Interest expense	0	0
Additional insurance reserves | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0
Interest expense	0	0
Deferred profit liability
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	3,691	(867)
Interest expense	294	276
Deferred profit liability | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0
Interest expense	0	0
Deferred profit liability | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0
Interest expense	0	0
Deferred profit liability | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	3,691	(867)
Interest expense	294	276
Revenues
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,713,895	1,571,393
Revenues | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	785,370	627,513
Revenues | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	900,634	925,202
Revenues | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	27,891	18,678
Interest Expense
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	427,888	386,484
Interest Expense | Variable/Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	237,869	203,986
Interest Expense | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	185,524	178,413
Interest Expense | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 4,495	$ 4,085

Policyholders' Liabilities (Det

Policyholders' Liabilities (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	[1]	$ 41,912,536
Transfer to (from) Policyholder Account Balance (to) from Separate Account		1,040,549	$ 284,135
Unearned revenue reserve		3,401,994	2,729,057
Other		4,841,412	3,081,856
Policyholder Account Balance, Total		$ 47,608,155	$ 39,204,409
Weighted-average crediting rate		2.20%	2.02%
Net amount at risk		$ 313,218,977	$ 295,739,871
Cash surrender value		35,732,427	28,941,512
Total
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period		35,168,397	30,227,959
Deposits		3,256,401	3,794,703
Interest credited		410,005	321,914
Policy charges		(913,912)	(897,226)
Surrenders and withdrawals		(633,664)	(547,284)
Benefit payments		(57,198)	(74,947)
Transfer to (from) Policyholder Account Balance (to) from Separate Account		1,040,549	284,135
Change in market value and other adjustments		1,094,171	284,242
Balance, end of period		39,364,749	33,393,496
Reinsurance and other recoverable		13,291,049	13,289,307
Policyholders' account balance net of reinsurance and other recoverables		26,073,700	20,104,189
Policyholder Account Balance, Total
Variable Annuities
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period		16,432,032	11,465,411
Deposits		2,225,558	2,709,044
Interest credited		131,119	31,825
Policy charges		(10,684)	(1,003)
Surrenders and withdrawals		(233,470)	(113,369)
Benefit payments		(15,067)	(20,563)
Transfer to (from) Policyholder Account Balance (to) from Separate Account		4,995	157,771
Change in market value and other adjustments		954,563	517,047
Balance, end of period		19,489,046	14,746,163
Reinsurance and other recoverable		418,986	334,311
Policyholders' account balance net of reinsurance and other recoverables		19,070,060	14,411,852
Policyholder Account Balance, Total		$ 3,081,376	$ 3,361,321
Weighted-average crediting rate		1.46%	0.49%
Net amount at risk		$ 0	$ 0
Cash surrender value		17,391,104	11,912,977
Variable/Universal Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period		18,736,365	18,762,548
Deposits		1,030,843	1,085,659
Interest credited		278,886	290,089
Policy charges		(903,228)	(896,223)
Surrenders and withdrawals		(400,194)	(433,915)
Benefit payments		(42,131)	(54,384)
Transfer to (from) Policyholder Account Balance (to) from Separate Account		1,035,554	126,364
Change in market value and other adjustments		139,608	(232,805)
Balance, end of period		19,875,703	18,647,333
Reinsurance and other recoverable		12,872,063	12,954,996
Policyholders' account balance net of reinsurance and other recoverables		7,003,640	5,692,337
Policyholder Account Balance, Total		$ 17,506,563	$ 16,577,232
Weighted-average crediting rate		2.89%	3.10%
Net amount at risk		$ 313,218,977	$ 295,739,871
Cash surrender value		18,341,323	17,028,535
Variable Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Transfer to (from) Policyholder Account Balance (to) from Separate Account		1,035,554	126,364
Fixed Annuities
Additional Liability, Long-Duration Insurance [Roll Forward]
Other		4,740,000	$ 2,983,000
Policy loans | Variable Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Transfer to (from) Policyholder Account Balance (to) from Separate Account		$ 900,000
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Policyholders' Liabilities (Gua

Policyholders' Liabilities (Guaranteed Minimum Crediting Rate) (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)		Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 47,608,155	$ 41,912,536	[1]	$ 39,204,409
1 - 50 bps above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	1			1
1 - 50 bps above guaranteed minimum | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	50			50
51 - 150 bps above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	51			51
51 - 150 bps above guaranteed minimum | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	150			150
Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balance above guaranteed minimum crediting rate	150			150
Variable Annuities
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 3,081,376	16,432,032		$ 3,361,321	$ 11,465,411
Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,219,055			2,463,095
Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	842,771			879,281
Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	19,548			18,943
Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2			2
Variable/Universal Life
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	17,506,563	$ 18,736,365		16,577,232	$ 18,762,548
Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	6,899,826			7,085,677
Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	3,384,953			11,776
Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	6,582,586			5,263,150
Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 639,198			$ 4,216,629
Less than 1.00% | Variable Annuities
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%			1%
Account Values with Crediting Rates	$ 1,825,128			$ 1,947,289
Less than 1.00% | Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	972,976			1,050,808
Less than 1.00% | Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	833,696			877,536
Less than 1.00% | Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	18,454			18,943
Less than 1.00% | Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 2			$ 2
Less than 1.00% | Variable/Universal Life
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%			1%
Account Values with Crediting Rates	$ 9,078			$ 16,033
Less than 1.00% | Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			16,033
Less than 1.00% | Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Less than 1.00% | Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Less than 1.00% | Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	9,078			0
1.00% - 1.99% | Variable Annuities
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 232,269			$ 253,671
1.00% - 1.99% | Variable Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%			1%
1.00% - 1.99% | Variable Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1.99%			1.99%
1.00% - 1.99% | Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 229,049			$ 251,989
1.00% - 1.99% | Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,126			1,682
1.00% - 1.99% | Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	1,094			0
1.00% - 1.99% | Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
1.00% - 1.99% | Variable/Universal Life
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 3,233,287			$ 3,014,015
1.00% - 1.99% | Variable/Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%			1%
1.00% - 1.99% | Variable/Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1.99%			1.99%
1.00% - 1.99% | Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 163,616			$ 340,859
1.00% - 1.99% | Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
1.00% - 1.99% | Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,706,552			694,771
1.00% - 1.99% | Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	363,119			1,978,385
2.00% - 2.99% | Variable Annuities
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 28,621			$ 30,913
2.00% - 2.99% | Variable Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2%			2%
2.00% - 2.99% | Variable Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2.99%			2.99%
2.00% - 2.99% | Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 24,531			$ 30,850
2.00% - 2.99% | Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	4,090			63
2.00% - 2.99% | Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
2.00% - 2.99% | Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
2.00% - 2.99% | Variable/Universal Life
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 4,453,270			$ 4,368,221
2.00% - 2.99% | Variable/Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2%			2%
2.00% - 2.99% | Variable/Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2.99%			2.99%
2.00% - 2.99% | Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 21,001			$ 8,519
2.00% - 2.99% | Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	1,399,691			0
2.00% - 2.99% | Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,765,577			2,259,847
2.00% - 2.99% | Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	267,001			2,099,855
3.00% - 4.00% | Variable Annuities
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 993,267			$ 1,127,302
3.00% - 4.00% | Variable Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	3%			3%
3.00% - 4.00% | Variable Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%			4%
3.00% - 4.00% | Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 990,408			$ 1,127,302
3.00% - 4.00% | Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,859			0
3.00% - 4.00% | Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
3.00% - 4.00% | Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
3.00% - 4.00% | Variable/Universal Life
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 7,651,711			$ 7,084,665
3.00% - 4.00% | Variable/Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	3%			3%
3.00% - 4.00% | Variable/Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%			4%
3.00% - 4.00% | Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 4,555,992			$ 4,625,968
3.00% - 4.00% | Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	1,985,262			11,776
3.00% - 4.00% | Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	1,110,457			2,308,532
3.00% - 4.00% | Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 0			$ 138,389
Greater than 4.00% | Variable Annuities
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%			4%
Account Values with Crediting Rates	$ 2,091			$ 2,146
Greater than 4.00% | Variable Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,091			2,146
Greater than 4.00% | Variable Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Greater than 4.00% | Variable Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Greater than 4.00% | Variable Annuities | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 0			$ 0
Greater than 4.00% | Variable/Universal Life
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%			4%
Account Values with Crediting Rates	$ 2,159,217			$ 2,094,298
Greater than 4.00% | Variable/Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	2,159,217			2,094,298
Greater than 4.00% | Variable/Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Greater than 4.00% | Variable/Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	0			0
Greater than 4.00% | Variable/Universal Life | Greater than 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Account Values with Crediting Rates	$ 0			$ 0
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Policyholders' Liabilities (Add

Policyholders' Liabilities (Additional Insurance Reserves) (Details) - Variable/Universal Life - Policyholder Contract Deposit - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Policyholder Account Balance, Unearned Revenue Reserve	$ 3,067,336	$ 2,398,788
Policyholder Account Balance, Unearned Revenue Reserve, Issuance	405,732	393,675
Policyholder Account Balance, Unearned Revenue Reserve, Amortization Expense	(70,981)	(63,472)
Other adjustments	(93)	66
Policyholder Account Balance, Unearned Revenue Reserve	3,401,994	2,729,057
Policyholder Account Balance, Unearned Revenue Reserve, Reinsurance	1,621,229	1,450,592
Unearned revenue reserve net of reinsurance recoverables	$ 1,780,765	$ 1,278,465

Market Risk Benefits - Rollforw

Market Risk Benefits - Rollforward of Balances for Variable Annuity Products (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Variable Annuities
Market Risk Benefit [Roll Forward]
Balance, beginning of period	$ 4,550,625	$ 8,884,362
Effect of cumulative changes in non-performance risk	1,727,910	287,605
Balance, beginning of period, before effect of changes in non-performance risk	6,278,535	9,171,967
Attributed fees collected	587,663	659,743
Claims paid	(43,782)	(16,431)
Interest accrual	160,106	26,589
Actual in force different from expected	36,193	44,344
Effect of changes in interest rates	(671,989)	(5,067,986)
Effect of changes in equity markets	(1,314,461)	3,238,166
Effect of assumption update	330,769	(160,596)
Issuances	11,403
Other adjustments	(17,436)
Effect of changes in current period counterparty non-performance risk	0	0
Balance, end of period, before effect of changes in non-performance risk	5,357,001	7,895,796
Effect of cumulative changes in non-performance risk	(1,660,587)	(2,077,191)
Balance, end of period	3,696,414	5,818,605
Less: Reinsured Market Risk Benefits
Market Risk Benefit [Roll Forward]
Balance, beginning of period	(422,261)	(906,484)
Effect of cumulative changes in non-performance risk	0	0
Balance, beginning of period, before effect of changes in non-performance risk	(422,261)	(906,484)
Attributed fees collected	(107,425)	(77,427)
Claims paid	3,681	318
Interest accrual	(20,505)	(2,564)
Actual in force different from expected	(6,069)	(4,746)
Effect of changes in interest rates	169,229	527,662
Effect of changes in equity markets	127,157	(339,149)
Effect of assumption update	(54,067)	23,170
Issuances	9,025
Other adjustments	(638,198)
Effect of changes in current period counterparty non-performance risk	(7,445)	223,753
Balance, end of period, before effect of changes in non-performance risk	(946,878)	(555,467)
Effect of cumulative changes in non-performance risk	0	0
Balance, end of period	(946,878)	(555,467)
Less: Reinsured Market Risk Benefits | Ohio National
Market Risk Benefit [Roll Forward]
Other adjustments	638,000
Total, Net of Reinsurance
Market Risk Benefit [Roll Forward]
Balance, beginning of period	4,128,364	7,977,878
Effect of cumulative changes in non-performance risk	1,727,910	287,605
Balance, beginning of period, before effect of changes in non-performance risk	5,856,274	8,265,483
Attributed fees collected	480,238	582,316
Claims paid	(40,101)	(16,113)
Interest accrual	139,601	24,025
Actual in force different from expected	30,124	39,598
Effect of changes in interest rates	(502,760)	(4,540,324)
Effect of changes in equity markets	(1,187,304)	2,899,017
Effect of assumption update	276,702	(137,426)
Issuances	20,428
Other adjustments	(655,634)
Effect of changes in current period counterparty non-performance risk	(7,445)	223,753
Balance, end of period, before effect of changes in non-performance risk	4,410,123	7,340,329
Effect of cumulative changes in non-performance risk	(1,660,587)	(2,077,191)
Balance, end of period	$ 2,749,536	$ 5,263,138

Market Risk Benefits - Market R

Market Risk Benefits - Market Risk Benefits In Asset and Liability Positions (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Market risk benefit assets	$ 2,340,230	$ 1,423,000	$ 1,393,237	[1]
Market risk benefit liabilities	5,089,766	6,686,000	5,521,601	[1]
Variable Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Net amount at risk	$ 10,067,522	$ 10,510,747
Weighted-average attained age of contractholders	69 years	68 years
Market risk benefit assets	$ 2,340,230	$ 1,422,757
Market risk benefit liabilities	5,089,766	6,685,895
Net liability	$ 2,749,536	$ 5,263,138	$ 4,550,625		$ 8,884,362	$ (12,032)
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Reinsurance (Reinsurance amount

Reinsurance (Reinsurance amounts included in the Statements of Financial Position) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022		Jun. 30, 2022	Dec. 31, 2021	Jan. 01, 2021
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 37,667,480	$ 37,096,562	[1]
Policy loans	1,432,850	505,367
Deferred policy acquisition costs	(6,784,291)	(6,930,425)	[1]	$ (6,721,014)	$ (7,029,307)	$ (2,493,082)
Deferred sale inducement	(366,916)	(381,504)	[1]
Market risk benefits assets	2,340,230	1,393,237	[1]	1,423,000
Other assets	1,787,731	1,331,427	[1]
Future policy benefits	21,977,994	20,829,033	[1]	21,026,266
Market risk benefit liabilities	5,089,766	5,521,601	[1]	$ 6,686,000
Other liabilities	4,540,528	3,597,373	[1]
Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance recoverables	37,667,480	37,096,562
Policy loans	1,054,894	1,011,112
Deferred policy acquisition costs	(3,270,979)	(3,343,270)
Deferred sale inducement	(36,745)	(38,146)
Market risk benefits assets	1,174,612	543,177
Other assets	1,648,435	1,146,794
Policyholders' account balance	6,245,990	7,157,639
Future policy benefits	6,747,348	6,320,863
Market risk benefit liabilities	230,773	120,916
Other liabilities	3,793,074	2,891,433
Unaffiliated activity
Effects of Reinsurance [Line Items]
Deferred policy acquisition costs	(84,646)	(111,379)
Market risk benefits assets	752,567	64,738
Other assets	1,540,310	1,034,000
Policyholders' account balance	1,986,974	2,771,961
Future policy benefits	315	0
Market risk benefit liabilities	118,963	40,731
Other liabilities	$ 1,656,479	$ 820,185
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Reinsurance (Reinsurance Recove

Reinsurance (Reinsurance Recoverable by Counterparty) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 37,667,480	$ 37,096,562	[1]
PAR U
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	15,418,859	15,051,337
PURC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	7,228,567	6,928,950
PARCC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,360,934	2,437,589
GUL Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	3,133,194	3,124,697
PAR Term
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,008,158	2,040,599
Prudential Insurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,121,635	986,013
Term Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,938,351	1,830,197
Lotus Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,007,253	1,952,215
DART
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	670,394	578,462
Unaffiliated
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 1,780,135	$ 2,166,503
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Reinsurance (Reinsurance amou_2

Reinsurance (Reinsurance amounts included in the Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2023	Jun. 30, 2022
Premiums:
Direct	$ 476,472	$ 470,923		$ 938,539	$ 944,344
Assumed	34	(9,474)		(122)	(8,077)
Ceded	(386,541)	(407,125)		(771,796)	(812,438)
Net Premiums	89,965	54,324	[1]	166,621	123,829	[1]
Policy charges and fee income:
Direct	749,037	757,637		1,484,975	1,548,536
Assumed	148,479	158,744		301,079	305,550
Ceded	(533,980)	(517,626)		(1,036,027)	(1,366,151)
Net policy charges and fee income	363,536	398,755	[1]	750,027	487,935	[1]
Net investment income:
Direct	402,761	195,480		753,084	390,991
Assumed	343	365		686	818
Ceded	(10,029)	(3,717)		(11,245)	(20,381)
Net investment income	393,075	192,128		742,525	371,428
Asset administration fees:
Direct	80,952	88,655		161,308	186,112
Assumed	0	0		0	0
Ceded	(24,164)	(16,865)		(40,318)	(35,090)
Net asset administration fees	56,788	71,790		120,990	151,022
Other income (loss):
Direct	79,657	(325,563)		305,391	(674,251)
Assumed	(56)	(2,548)		(349)	(2,509)
Ceded	25,857	21,472		45,263	43,038
Net Other income (loss)	105,458	(306,639)	[1]	350,305	(633,722)	[1]
Realized investment gains (losses), net:
Direct	(88,715)	614,376		(334,638)	1,125,198
Assumed	82,278	(281,646)		220,944	(485,630)
Ceded	14,131	27,489		709	73,932
Realized investment gains (losses), net	7,694	360,219	[1]	(112,985)	713,500	[2]
Change in value of market risk benefits, net of related hedging gain (loss):
Direct	174,084	(556,282)		207,204	(727,637)
Assumed	2,774	0		(3,443)	0
Ceded	(215,745)	(161,187)		(222,446)	(427,700)
Net change in value of market risk benefits, net of related hedging gain (loss)	(38,887)	(717,469)	[1]	(18,685)	(1,155,337)	[2]
Policyholders’ benefits (including change in reserves):
Direct	848,495	726,165		1,727,280	1,580,324
Assumed	332,048	326,171		649,335	579,208
Ceded	(1,033,582)	(957,887)		(2,124,472)	(1,879,674)
Net policyholders’ benefits (including change in reserves	146,961	94,449	[1]	252,143	279,858	[1]
Change in estimates of liability for future policy benefits:
Direct	31,146	1,828,707		(17,355)	1,818,725
Assumed	23,844	707,485		25,651	689,394
Ceded	(56,123)	(2,487,545)		(13,831)	(2,462,319)
Change in estimates of liability for future policy benefits	(1,133)	48,647	[1]	(5,535)	45,800	[1]
Interest credited to policyholders’ account balances:
Direct	215,973	188,115		438,548	333,985
Assumed	27,957	29,601		66,463	102,103
Ceded	(100,114)	(108,798)		(200,973)	(215,151)
Net interest credited to policyholders’ account balances	143,816	108,918	[1]	304,038	220,937	[1]
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization	(105,195)	(101,295)		(223,025)	(218,652)
Unaffiliated
Premiums:
Assumed	34	(13,448)		(132)	(13,408)
Ceded	(16,802)	(11,048)		(33,377)	(22,570)
Policy charges and fee income:
Assumed	383	11,421		923	11,421
Ceded	(38,338)	(19,959)		(62,276)	(38,257)
Net investment income:
Ceded	1,993	8,650		12,913	4,317
Asset administration fees:
Ceded	(7,740)	0		(7,740)	0
Other income (loss):
Assumed	55	(2,549)		(238)	(2,510)
Ceded	8,031	0		9,653	0
Realized investment gains (losses), net:
Assumed	82,278	(281,645)		220,944	(281,645)
Ceded	13,952	26,826		(629)	72,776
Change in value of market risk benefits, net of related hedging gain (loss):
Assumed	2,774	0		(3,443)	0
Ceded	(75,325)	(35,629)		(80,098)	(86,502)
Policyholders’ benefits (including change in reserves):
Assumed	189	1,245		280	1,354
Ceded	(36,118)	(24,551)		(63,820)	(43,042)
Change in estimates of liability for future policy benefits:
Ceded	(416)	(6,594)		(416)	(6,594)
Interest credited to policyholders’ account balances:
Assumed	(2,370)	(2,781)		5,099	(2,781)
Ceded	$ (85)	$ 0		$ (85)	$ 0
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Reinsurance (Life Insurance In

Reinsurance (Life Insurance In Force) (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022
Reinsurance Disclosures [Abstract]
Direct gross life insurance face amount in force	$ 1,107,571,392	$ 1,086,899,612
Assumed gross life insurance face amount in force	36,059,164	37,151,725
Reinsurance ceded	(1,015,213,859)	(1,012,351,998)
Net life insurance face amount in force	$ 128,416,697	$ 111,699,339

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) $ in Thousands								3 Months Ended			6 Months Ended		21 Months Ended	24 Months Ended	36 Months Ended			48 Months Ended
	Apr. 01, 2023 USD ($)	Jan. 01, 2022 USD ($)	Jul. 01, 2019	Jul. 01, 2017	Jul. 01, 2012	Dec. 31, 2010	Dec. 31, 2009	Jun. 30, 2023 USD ($) counterparty	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2023 USD ($) counterparty	Jun. 30, 2022 USD ($)	Dec. 31, 2016	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2016	Dec. 31, 2013	Dec. 31, 2017	Dec. 31, 2013	Dec. 31, 2022 USD ($)		Oct. 01, 2021 USD ($)
Effects of Reinsurance [Line Items]
Deposit assets on reinsurance								$ 1,413,000			$ 1,413,000									$ 828,000
Funds witheld liabilities								1,196,000			1,196,000									705,000
Ceded Premiums								(386,541)	$ (407,125)		(771,796)	$ (812,438)
Policy loan assets								1,432,850			1,432,850									505,367
Deferred Reinsurance Gain								1,724,471	1,532,892	$ 252,736	1,724,471	1,532,892								1,492,856
Reinsurance recoverables								$ 37,667,480			$ 37,667,480									37,096,562	[1]
Number of counterparties | counterparty								2			2
Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Policy loan assets								$ 1,054,894			$ 1,054,894									1,011,112
Reinsurance recoverables								37,667,480			37,667,480									37,096,562
PAR U
Effects of Reinsurance [Line Items]
Reinsurance recoverables								15,418,859			15,418,859									15,051,337
PURC
Effects of Reinsurance [Line Items]
Reinsurance recoverables								7,228,567			7,228,567									6,928,950
PARCC
Effects of Reinsurance [Line Items]
Reinsurance recoverables								2,360,934			2,360,934									2,437,589
GUL Re
Effects of Reinsurance [Line Items]
Reinsurance recoverables								3,133,194			3,133,194									3,124,697
PAR Term
Effects of Reinsurance [Line Items]
Reinsurance recoverables								2,008,158			2,008,158									2,040,599
Term Re
Effects of Reinsurance [Line Items]
Reinsurance recoverables								1,938,351			1,938,351									1,830,197
Prudential Insurance
Effects of Reinsurance [Line Items]
Reinsurance recoverables								1,121,635			1,121,635									986,013
Lotus Re
Effects of Reinsurance [Line Items]
Reinsurance recoverables								2,007,253			2,007,253									1,952,215
DART
Effects of Reinsurance [Line Items]
Reinsurance recoverables								670,394			670,394									578,462
Ohio National
Effects of Reinsurance [Line Items]
Deferred Reinsurance Gain	$ 277,000
Reinsure aprox amount of account values of PDI traditional variable annuity contracts	$ 10,000,000
Percent of total reinsured block	0.10
Ohio National | Separate account liabilities under MODCO
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage	100%
Ohio National | General account liabilities under MODCO
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage	100%
Union Hamilton
Effects of Reinsurance [Line Items]
Reinsurance recoverables								2,500,000			2,500,000
Union Hamilton | Quote Share Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage													50%
Variable Annuities
Effects of Reinsurance [Line Items]
Deferred Reinsurance Gain								272,053	0	0	272,053	0								0
Variable Annuities | FLIAC
Effects of Reinsurance [Line Items]
Funds held under reinsurance agreements								5,200,000			5,200,000
Fixed Annuities
Effects of Reinsurance [Line Items]
Deferred Reinsurance Gain								53,492	$ 61,141	$ 78,138	53,492	$ 61,141								$ 57,898
Fixed Annuities | FLIAC
Effects of Reinsurance [Line Items]
Funds held under reinsurance agreements								$ 2,000,000			$ 2,000,000
Percent of total reinsured block								0.78			0.78
Affiliated Entity | PAR U
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage					95%	70%
Affiliated Entity | PURC
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage																95%	70%
Affiliated Entity | PARCC
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage			100%				90%
Affiliated Entity | GUL Re
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage				30%											95%
Affiliated Entity | PAR Term
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage			100%																95%
Affiliated Entity | Term Re
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage																		95%
Affiliated Entity | Prudential Insurance
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage											100%
Affiliated Entity | Prudential Insurance | Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance agreement loss		$ (305,000)
Affiliated Entity | Lotus Re | Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance liabilities associated with the risks of the coinsurance agreement																						$ 32,000
Reinsurance agreement ceded risk										100%
Net liabilities associated with the transaction for coinsurance										$ 1,387,000
Net liabilities associated with the transaction for modified coinsurance										14,037,000
Policy loan assets										855,000
Cash received										820,000
Recognized gain										$ 1,352,000
Affiliated Entity | DART
Effects of Reinsurance [Line Items]
Reinsurance Retention Policy, Reinsured Risk, Percentage														95%
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	[1]	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 40,326	$ (143,706)		$ 96,565	$ (342,554)	[1]
Effective Income Tax Rate, Percent				16.25%	26.42%
Federal Statutory Income Tax Rate, Percent				21%
Book-income Alternative Minimum Tax Rate				15%
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022		Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	[1]				$ (10,065)
Income tax benefit (expense)		$ 102,846	$ (27,805)	[2]	(7,416)	$ (45,818)	[2]
Ending Balance		19,748			19,748
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					(20,007)	(11,274)
Change in OCI before reclassifications					3,266	(7,870)
Amounts reclassified from AOCI					0	0
Income tax benefit (expense)					(363)	735
Ending Balance		(17,104)	(18,409)		(17,104)	(18,409)
Net unrealized investment gains (losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					(1,474,475)	306,331
Change in OCI before reclassifications					116,395	(1,824,967)
Amounts reclassified from AOCI					2,479	7,026
Income tax benefit (expense)					(24,884)	381,696
Ending Balance		(1,380,485)	(1,129,914)		(1,380,485)	(1,129,914)
Accumulated Other Comprehensive   Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					(10,065)	396,454
Change in OCI before reclassifications					34,750	206,443
Amounts reclassified from AOCI					2,479	7,026
Income tax benefit (expense)					(7,416)	(45,818)
Ending Balance		19,748	564,105		19,748	564,105
Interest Rate Remeasurement of Future Policy Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					119,368	(125,809)
Change in OCI before reclassifications					(17,588)	249,694
Amounts reclassified from AOCI					0	0
Income tax benefit (expense)					3,693	(52,436)
Ending Balance		105,473	71,449		105,473	71,449
Gain (loss) from Changes in Non-Performance Risk on Market Risk Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					1,365,049	227,206
Change in OCI before reclassifications					(67,323)	1,789,586
Amounts reclassified from AOCI					0	0
Income tax benefit (expense)					14,138	(375,813)
Ending Balance		1,311,864	1,640,979		1,311,864	1,640,979
Cash flow hedges | Net unrealized investment gains (losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance					40,000	40,000
Ending Balance		$ 100,000	$ 144,000		$ 100,000	$ 144,000
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Equity (Reclassification out of

Equity (Reclassification out of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI			$ 2,479	$ 7,026
Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI			2,479	7,026
Amounts reclassified from AOCI | Net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	$ 1,972	$ 15,905	(2,479)	(7,026)
Amounts reclassified from AOCI | Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	1,972	15,905	(2,479)	(7,026)
Amounts reclassified from AOCI | Fixed maturities, available-for-sale
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	(2)	(26,717)	(8,223)	(63,438)
Amounts reclassified from AOCI | Currency/Interest rate | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net unrealized investment gains (losses)	$ 1,974	$ 42,622	$ 5,744	$ 56,412

Equity (Net Unrealized Investme

Equity (Net Unrealized Investment Gains (Losses) in AOCI on AFS Fixed Maturity Securities with Allowance for Credit Losses and All Other Investments) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ (10,065)	[1]
Ending Balance	19,748
Net Unrealized Investment Gains (Losses) on Available-for-Sale Fixed Maturity Securities on which an allowance for credit losses has been recognized
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	4,371
Net investment gains (losses) on investments arising during the period	(2,751)
Reclassification adjustment for (gains) losses included in net income	(201)
Reclassification due to allowance for credit losses recorded during the period	2,362
Impact of net unrealized investment (gains) losses	0
Ending Balance	3,781
Net Unrealized Investment Gains (Losses) on All Other Investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(2,161,026)
Net investment gains (losses) on investments arising during the period	132,059
Reclassification adjustment for (gains) losses included in net income	2,680
Reclassification due to allowance for credit losses recorded during the period	(2,362)
Impact of net unrealized investment (gains) losses	0
Ending Balance	(2,028,649)
Deferred Policy Acquisition Costs and Other Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(1,198,422)
Net investment gains (losses) on investments arising during the period	0
Reclassification adjustment for (gains) losses included in net income	0
Reclassification due to allowance for credit losses recorded during the period	0
Impact of net unrealized investment (gains) losses	155,245
Ending Balance	(1,043,177)
Future Policy Benefits and Policyholders’ Account Balances and other liabilities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	1,488,679
Net investment gains (losses) on investments arising during the period	0
Reclassification adjustment for (gains) losses included in net income	0
Reclassification due to allowance for credit losses recorded during the period	0
Impact of net unrealized investment (gains) losses	(168,158)
Ending Balance	1,320,521
Income Tax Benefit (Expense)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	391,923
Net investment gains (losses) on investments arising during the period	(27,076)
Reclassification adjustment for (gains) losses included in net income	(519)
Reclassification due to allowance for credit losses recorded during the period	0
Impact of net unrealized investment (gains) losses	2,711
Ending Balance	367,039
Accumulated Other Comprehensive Income (Loss) Related To Net Unrealized Investment Gains (Losses)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(1,474,475)
Net investment gains (losses) on investments arising during the period	102,232
Reclassification adjustment for (gains) losses included in net income	1,960
Reclassification due to allowance for credit losses recorded during the period	0
Impact of net unrealized investment (gains) losses	(10,202)
Ending Balance	$ (1,380,485)
[1]Prior period amounts adjusted for the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	1 Months Ended				3 Months Ended			6 Months Ended			12 Months Ended
	Feb. 28, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)		Jun. 30, 2023 USD ($) policy	Jun. 30, 2022 USD ($)		Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Commissions and fees					$ 363,536,000	$ 398,755,000	[1]	$ 750,027,000	$ 487,935,000	[1]
Payments to Fund Policy Loans								1,039,549,000	74,108,000
Policy loans					1,432,850,000			1,432,850,000			$ 505,367,000
Net investment income					393,075,000	192,128,000		742,525,000	371,428,000
Other invested assets					1,207,395,000			1,207,395,000			1,088,613,000
Fee income from revenue sharing agreement					56,788,000	71,790,000		120,990,000	151,022,000
Accrued investment income					283,585,000			283,585,000			219,635,000
Return of capital					(300,000,000)
Prudential Insurance
Related Party Transaction [Line Items]
Contributed Capital	$ 405,000,000	$ 7,000,000	$ 3,000,000	$ 8,000,000
Dividends								0			0
Return of capital					300,000,000
PGF
Related Party Transaction [Line Items]
Investment Income, Interest					120,000,000			230,000,000
Prudential Insurance
Related Party Transaction [Line Items]
Stock option program plan expense					400,000	400,000		500,000	500,000
Deferred compensation program expense					700,000	500,000		3,400,000	3,200,000
Pension plan expense					4,000,000	5,000,000		7,000,000	10,000,000
Welfare plan expense					3,000,000	3,000,000		$ 7,000,000	7,000,000
Defined contribution plan, employer matching contribution, percent (up to)								4%
Defined contribution plan, cost recognized					2,000,000	2,000,000		$ 4,000,000	4,000,000
Number of Corporate Owned Life Insurance policies sold | policy								5
Prudential Insurance and Prudential Financial
Related Party Transaction [Line Items]
Life Insurance, Corporate or Bank Owned, amount					3,901,000,000			$ 3,901,000,000			4,512,000,000
Fees related to Life Insurance, Corporate or Bank Owned, amount					12,000,000	13,000,000		25,000,000	27,000,000
Prudential Financial
Related Party Transaction [Line Items]
Company's share of corporate expenses					34,000,000	21,000,000		$ 73,000,000	34,000,000
Number of Corporate Owned Life Insurance policies sold | policy								1
Payments to Fund Policy Loans								$ 900,000,000
Policy loans					898,000,000			898,000,000
Interest Income on Policy Loans					5,000,000			5,000,000
Affiliated Entity
Related Party Transaction [Line Items]
Net investment income					1,000,000	1,000,000		3,000,000	1,000,000
Accrued interest receivable related to long-term notes receivable					900,000			900,000			1,000,000
Revenues related to long-term notes receivable					1,000,000	1,000,000		2,000,000	2,000,000
Accrued investment income					500,000			500,000			500,000
Line of credit facility, maximum borrowing capacity					7,000,000,000			7,000,000,000
Interest expense related to loans payable, Related Party					2,000,000	(5,000,000)		5,000,000	(5,000,000)
Affiliated Entity | PAD
Related Party Transaction [Line Items]
Commissions and fees					147,000,000	162,000,000		287,000,000	332,000,000
Affiliated Entity | PGIM
Related Party Transaction [Line Items]
Net investment income					13,000,000	10,000,000		25,000,000	18,000,000
Affiliated Entity | ASTISI and PGIM Investments
Related Party Transaction [Line Items]
Fee income from revenue sharing agreement					70,000,000	78,000,000		139,000,000	163,000,000
Affiliated Entity | PGIM Investments
Related Party Transaction [Line Items]
Fee income from revenue sharing agreement					9,000,000	9,000,000		18,000,000	19,000,000
Prudential Financial Joint Ventures
Related Party Transaction [Line Items]
Net investment income					(6,000,000)	$ 6,000,000		(4,000,000)	$ 19,000,000
Other invested assets					$ 665,000,000			$ 665,000,000			$ 606,000,000
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Related Party Transactions (Aff

Related Party Transactions (Affiliated Notes Receivable) (Details) - Affiliated Entity - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Total notes receivable - affiliated	$ 145,661	$ 148,076
U.S. Dollar fixed rate notes
Related Party Transaction [Line Items]
Total notes receivable - affiliated	$ 145,661	$ 148,076
U.S. Dollar fixed rate notes | Minimum
Related Party Transaction [Line Items]
Interest Rates	0%
U.S. Dollar fixed rate notes | Maximum
Related Party Transaction [Line Items]
Interest Rates	14.85%

Related Party Transaction (Affi

Related Party Transaction (Affiliated Commercial Mortgage Loan) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Commercial Mortgage Loans	$ 5,382,278	$ 4,928,680
Affiliated Entity | Commercial mortgage loans
Related Party Transaction [Line Items]
Interest Rates	9.66%
Commercial Mortgage Loans	$ 71,632	$ 72,225

Related Party Transactions (A_2

Related Party Transactions (Affiliated Asset Transfers) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	[1]	Jun. 30, 2023	Jun. 30, 2022	[2]	Dec. 31, 2022
Related Party Transaction [Line Items]
Additional paid-in capital							$ 6,037,914
Realized investment gains (losses)	$ 7,694	$ 360,219		$ (112,985)	$ 713,500
Affiliated Entity | PALAC - January 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	4,432			4,432
Book Value	4,432			4,432
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | PALAC - January 2022 - Purchase - Derivatives
Related Party Transaction [Line Items]
Fair Value	404			404
Book Value	404			404
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | PALAC - February 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	128,909			128,909
Book Value	128,909			128,909
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | PAR U - April 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,970			48,970
Book Value	48,970			48,970
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - May 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	233,426			233,426
Book Value	241,128			241,128
Additional paid-in capital	6,085			6,085
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - June 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	88,754			88,754
Book Value	81,216			81,216
Additional paid-in capital	(5,955)			(5,955)
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - June 2022 - Transfer In - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	52,089			52,089
Book Value	45,031			45,031
Additional paid-in capital	(5,577)			(5,577)
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - June 2022 - Transfer Out - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,786			48,786
Book Value	58,984			58,984
Additional paid-in capital	(8,057)			(8,057)
Realized investment gains (losses)				0
Affiliated Entity | PAR U - June 2022 - Purchase - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	6,492			6,492
Book Value	6,492			6,492
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | PAR U - June 2022 - Sale - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	14,853			14,853
Book Value	15,725			15,725
Additional paid-in capital	0			0
Realized investment gains (losses)				(872)
Affiliated Entity | GUL Re - June 2022 - Purchase - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	13,551			13,551
Book Value	13,551			13,551
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | GUL Re - June 2022 - Sale - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	8,692			8,692
Book Value	9,033			9,033
Additional paid-in capital	0			0
Realized investment gains (losses)				(341)
Affiliated Entity | PURC - June 2022 - Purchase - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	4,403			4,403
Book Value	4,403			4,403
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - July 2022 - Transfer in - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	6,319			6,319
Book Value	7,230			7,230
Additional paid-in capital	719			719
Realized investment gains (losses)				0
Affiliated Entity | Prudential Arizona Reinsurance Captive Co - July 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	16,284			16,284
Book Value	16,284			16,284
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - August 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	155,823			155,823
Book Value	139,712			139,712
Additional paid-in capital	(12,728)			(12,728)
Realized investment gains (losses)				0
Affiliated Entity | Vantage Casualty Insurance Co - September 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	3,497			3,497
Book Value	3,497			3,497
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | WH Warehouse Ltd - October 2022 - Sale - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	26,536			26,536
Book Value	26,388			26,388
Additional paid-in capital	0			0
Realized investment gains (losses)				148
Affiliated Entity | PARU - November 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	91,051			91,051
Book Value	91,051			91,051
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance - December 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	67,477			67,477
Book Value	71,369			71,369
Additional paid-in capital	3,075			3,075
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, January 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,329			48,329
Book Value	50,372			50,372
Additional paid-in capital	1,614			1,614
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, March 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	7,175			7,175
Book Value	7,500			7,500
Additional paid-in capital	256			256
Realized investment gains (losses)				0
Affiliated Entity | PURC, April 2023, Purchase, Fixed maturities
Related Party Transaction [Line Items]
Fair Value	102,804			102,804
Book Value	102,804			102,804
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Term Re, June 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	115,573			115,573
Book Value	115,573			115,573
Additional paid-in capital	0			0
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	4,298			4,298
Book Value	4,443			4,443
Additional paid-in capital	114			114
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 1
Related Party Transaction [Line Items]
Fair Value	4,394			4,394
Book Value	4,494			4,494
Additional paid-in capital	80			80
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 2
Related Party Transaction [Line Items]
Fair Value	19,453			19,453
Book Value	19,203			19,203
Additional paid-in capital	(198)			(198)
Realized investment gains (losses)				0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 3
Related Party Transaction [Line Items]
Fair Value	14,452			14,452
Book Value	15,086			15,086
Additional paid-in capital	$ 502			502
Realized investment gains (losses)				$ 0
[1]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts adjusted for the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Related Party Transactions Rela

Related Party Transactions Related Party Transactions (Debt Agreements) (Details) - Affiliated Entity - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 307,123	$ 311,813
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 95,103	96,666
Interest Rates	4.39%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 28,531	29,000
Interest Rates	4.39%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 96,313	97,665
Interest Rates	3.95%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 38,525	39,066
Interest Rates	3.95%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 48,156	48,832
Interest Rates	3.95%
Prudential Funding, LLC, Loan Issued 12/28/2022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	138
Interest Rates	4.73%
Prudential Funding, LLC, Loan Issued 12/29/2022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	62
Interest Rates	4.73%
Prudential Funding, LLC, Loan Issued 12/30/2022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	384
Interest Rates	4.73%
Prudential Funding, LLC, Loan Issued 6/26/2023
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 109	0
Interest Rates	5.57%
Prudential Funding, LLC, Loan Issued 6/27/2023
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 132	0
Interest Rates	5.57%
Prudential Funding, LLC, Loan Issued 6/28/2023
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 167	0
Interest Rates	5.56%
Prudential Funding, LLC, Loan Issued 6/30/2023
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 12	0
Interest Rates	5.47%
Prudential Funding, LLC, Loan Issued 6/30/2023
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 75	$ 0
Interest Rates	5.45%

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jul. 31, 2017
Commitments and Contingent Liabilities [Line Items]
Litigation and regulatory matters loss contingency, range of possible loss, maximum (less than)	$ 100		$ 100
Indonesia | CT Corp Joint Venture
Commitments and Contingent Liabilities [Line Items]
Joint Venture with CT Corp, Ownership Percentage						49%
Commitments | Commercial mortgage loans
Commitments and Contingent Liabilities [Line Items]
Total outstanding mortgage loan commitments	138		138		$ 333
Allowance for credit losses	0.2		0.2		0.1
Change in allowance for credit loss expense (reversal)	0.1	$ 0	0.1	$ 0
Commitments | Investments
Commitments and Contingent Liabilities [Line Items]
Commitments to purchase investment (excluding commercial mortgage loans)	786		786		582
Purchase Commitment
Commitments and Contingent Liabilities [Line Items]
Change in allowance for credit loss expense (reversal)	0	$ 0	0	$ 0
Other Guarantees
Commitments and Contingent Liabilities [Line Items]
Accrued liabilities	$ 32		$ 32		$ 33