Pruco Life Insurance 10-K 20 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 20, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	033-37587
Entity Registrant Name	PRUCO LIFE INSURANCE CO
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		250,000
Entity Public Float	$ 0

Audit Information

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

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2023 – $2,008; 2022 – $4,769) (amortized cost: 2023 – $27,538,066; 2022 – $21,311,087)	$ 26,131,780	$ 19,025,401
Fixed maturities, trading, at fair value (amortized cost: 2023 – $3,476,746; 2022 – $2,682,022)	2,796,446	1,936,159
Equity securities, at fair value (cost: 2023 – $824,270; 2022 – $148,179)	844,950	143,072
Policy loans	1,472,677	505,367
Short-term investments	380,366	124,491
Commercial mortgage and other loans (net of $37,689 and $20,263 allowance for credit losses at December 31, 2023 and December 31, 2022, respectively)	6,122,721	4,928,680
Other invested assets (includes $85,025 and $116,110 of assets measured at fair value at December 31, 2023 and 2022, respectively)	1,222,985	1,088,613
Total investments	38,971,925	27,751,783
Cash and cash equivalents	2,139,792	2,397,627
Deferred policy acquisition costs	7,097,511	6,930,425	[1]
Accrued investment income	333,838	219,635
Reinsurance recoverables	38,709,651	37,096,562	[1]
Receivables from parent and affiliates	332,583	224,921
Deferred sales inducements	351,424	381,504	[1]
Income tax assets	1,737,651	1,694,751	[1]
Market risk benefits assets	2,367,243	1,393,237	[1]
Other assets	2,078,938	1,331,427	[1]
Separate account assets	119,188,485	114,051,246
TOTAL ASSETS	213,309,041	193,473,118
LIABILITIES
Policyholders’ account balances	53,012,800	41,912,536	[1]
Future policy benefits	23,205,205	20,829,033	[1]
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	180,411	126,250
Long-term debt to affiliates	0	185,563
Payables to parent and affiliates	2,667,696	2,126,571
Other Liabilities	5,170,308	3,597,373	[1]
Separate account liabilities	119,188,485	114,051,246
Total liabilities	208,787,616	188,436,923
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 16)
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	5,052,602	6,037,914
Retained Earnings (accumulated deficit)	(532,951)	(994,154)	[1]
Accumulated other comprehensive income (loss)	(30,920)	(10,065)	[1]
Total Pruco Life Insurance Company equity	4,491,231	5,036,195
Noncontrolling Interests	30,194	0
Total equity	4,521,425	5,036,195
TOTAL LIABILITIES AND EQUITY	$ 213,309,041	$ 193,473,118
[1]Prior period amounts reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Consolidated Statements of Fi_2

Consolidated Statements of Financial Position (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Fixed Maturities, Available-for-sale, allowance for credit losses	$ 2,008	$ 4,769
Fixed maturities, available-for-sale, amortized cost	27,538,066	21,311,087
Fixed maturities, trading, amortized cost	3,476,746	2,682,022
Equity securities, at cost	824,270	148,179
Commercial mortgage and other loans, allowance for credit losses	37,689	20,263	$ 5,951	$ 4,552
Other invested assets, at fair value	$ 85,025	$ 116,110
Common stock, par value (in dollars 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

Consolidated Statement of Opera

Consolidated Statement of Operations and Comprehensive Income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
REVENUES
Premiums		$ 328,897	$ 265,208	[1]	$ 184,458	[1]
Policy charges and fee income		1,536,606	1,230,601	[1]	1,300,095	[1]
Net investment income		1,675,522	884,001		550,235
Asset administration fees		232,950	284,182		202,177
Other Income (loss)		744,628	(651,469)	[1]	262,420	[1]
Realized investment gains (losses), net		(1,083,660)	336,382	[2]	(386,894)	[1]
Change in value of market risk benefits, net of related hedging gain (losses)		(94,368)	(700,581)	[1]	(4,222,530)	[2]
TOTAL REVENUES		3,340,575	1,648,324		(2,110,039)
BENEFITS AND EXPENSES
Policyholders’ benefits		503,789	458,373	[1]	82,710	[1]
Change in estimates of liability for future policy benefits		3,952	55,099	[1]	27,008	[1]
Interest credited to policyholders’ account balances		655,445	445,215	[1]
Interest credited to policyholders’ account balances	[1]				(151,389)
Amortization of deferred policy acquisition costs		534,435	520,276	[1]	325,595	[1]
General, administrative and other expenses	[1]				(523,774)
General, administrative and other expense		1,151,452	1,156,464	[1]
TOTAL BENEFITS AND EXPENSES					(239,850)
TOTAL BENEFITS AND EXPENSES		2,849,073	2,635,427
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE		491,502	(987,103)		(1,870,189)
Income tax expense (benefit)		29,378	(295,535)	[1]	(474,786)	[1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE		462,124	(691,568)		(1,395,403)
Equity in earnings of operating joint venture, net of taxes		(433)	(75,137)		702
Net income (loss)		461,691	(766,705)	[2]	(1,394,701)	[2]
Less: Income (loss) attributable to noncontrolling interests		488	0		0
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY		461,203	(766,705)		(1,394,701)
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments		2,419	(9,337)		(3,891)
Net unrealized investment gains (losses)		691,952	(2,254,037)	[1]	(210,486)	[1]
Interest rate remeasurement of future policy benefits		(60,978)	310,353	[1]	37,274	[1]
Gain (loss) from changes in non-performance risk on market risk benefits		(659,875)	1,440,305	[1]	(435,232)	[1]
Total		(26,482)	(512,716)		(612,335)
Less: Income tax expense (benefit) related to other comprehensive income (loss)		(5,627)	(106,197)	[1]	(128,241)	[1]
Other comprehensive income (loss), net of tax		(20,855)	(406,519)		(484,094)
Comprehensive income (loss)		440,836	(1,173,224)		(1,878,795)
Less: Comprehensive income (loss) attributable to noncontrolling interests		488	0		0
Comprehensive income (loss) attributable to Pruco Life Insurance Company		$ 440,348	$ (1,173,224)		$ (1,878,795)
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands		Total		PRUCO Life Insurance Company	Common  Stock		Additional  Paid-in Capital		Retained Earnings / (Accumulated Deficit)		Retained Earnings / (Accumulated Deficit) Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other   Comprehensive  Income (Loss)		Accumulated Other   Comprehensive  Income (Loss) Cumulative Effect, Period of Adoption, Adjustment	Total Pruco Life Insurance Company Equity		Total Pruco Life Insurance Company Equity Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests		Total  Equity		Total  Equity Cumulative Effect, Period of Adoption, Adjustment
Beginning Balance at Dec. 31, 2020					$ 2,500		$ 1,726,690		$ 1,772,398		$ (605,146)	$ 546,128		$ 334,420	$ 4,047,716		$ (270,726)	$ 0		$ 4,047,716		$ (270,726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributed capital							4,342,215								4,342,215					4,342,215
Contributed (distributed) capital-parent/child asset transfers							(26,414)								(26,414)					(26,414)
Comprehensive income (loss):
Net Income (Loss)		$ (1,394,701)	[1]	$ (1,394,701)					(1,394,701)						(1,394,701)					(1,394,701)
Other Comprehensive Income (Loss), Net of Tax		(484,094)										(484,094)			(484,094)			0		(484,094)
Comprehensive income (loss)		(1,878,795)													(1,878,795)			0		(1,878,795)
Ending Balance at Dec. 31, 2021	[2]				2,500		6,042,491		(227,449)			396,454			6,213,996			0		6,213,996
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Return of Capital															0
Contributed capital							17,861								17,861					17,861
Contributed (distributed) capital-parent/child asset transfers							(22,438)								(22,438)					(22,438)
Comprehensive income (loss):
Net Income (Loss)		(766,705)	[1]	(766,705)					(766,705)						(766,705)					(766,705)
Other Comprehensive Income (Loss), Net of Tax		(406,519)										(406,519)			(406,519)			0		(406,519)
Comprehensive income (loss)		(1,173,224)													(1,173,224)			0		(1,173,224)
Ending Balance at Dec. 31, 2022		5,036,195		5,036,195	2,500	[2]	6,037,914	[2]	(994,154)	[2]		(10,065)	[2]		5,036,195	[2]		0	[2]	5,036,195	[2]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Return of Capital		1,400,000					(1,400,000)								(1,400,000)					(1,400,000)
Contributed capital							412,382								412,382					412,382
Contributions from noncontrolling interests																		29,706		29,706
Contributed (distributed) capital-parent/child asset transfers							2,306								2,306					2,306
Comprehensive income (loss):
Net Income (Loss)		461,691		461,203					461,203						461,203			488		461,691
Other Comprehensive Income (Loss), Net of Tax		(20,855)										(20,855)			(20,855)					(20,855)
Comprehensive income (loss)		440,836													440,348			488		440,836
Ending Balance at Dec. 31, 2023		$ 4,521,425		$ 4,491,231	$ 2,500		$ 5,052,602		$ (532,951)			$ (30,920)			$ 4,491,231			$ 30,194		$ 4,521,425
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ 461,691	$ (766,705)	[1]	$ (1,394,701)	[1]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income	69,986	131,936	[1]	165,675	[1]
Interest credited to policyholders’ account balances	655,445	445,215	[1]	(151,389)	[1]
Realized investment gains (losses), net	1,083,660	(336,382)	[1]	386,894	[2]
Change in value of market risk benefits, net of related hedging (gains) losses	94,368	700,581	[2]	4,222,530	[1]
Change in:
Future policy benefits and other insurance liabilities	2,241,530	3,743,780	[1]	1,831,520	[1]
Reinsurance recoverables	(639,002)	(2,254,290)	[1]	(1,134,683)	[1]
Accrued investment income	(110,760)	(58,762)		(66,414)
Net payables to/receivables from parent and affiliates	(120,565)	80,370		(16,904)
Deferred policy acquisition costs	(560,471)	(442,303)	[1]	(4,067,946)	[1]
Income taxes	(37,886)	(334,769)	[1]	(842,107)	[1]
Derivatives, net	(282,729)	(651,654)		(1,193,004)
Other, net	(395,372)	1,567,947	[1]	1,376,588	[1]
Cash flows from (used in) operating activities	2,459,895	1,824,964		(883,941)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	1,736,809	1,688,079		1,251,269
Fixed maturities, trading	97,693	907,941		914,662
Equity securities	189,237	242,292		100,151
Policy loans	182,973	169,723		172,932
Ceded policy loans	(119,787)	(112,164)		(13,387)
Short-term investments	456,983	632,069		221,645
Commercial mortgage and other loans	167,888	196,672		280,103
Other invested assets	19,693	60,349		302,692
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(7,544,596)	(7,009,578)		(2,504,582)
Fixed maturities, trading	(857,717)	(425,267)		(117,247)
Equity securities	(678,847)	(281,684)		(98,122)
Policy loans	(1,162,959)	(144,764)		(122,297)
Ceded policy loans	151,019	71,402		12,161
Short-term investments	(690,173)	(558,161)		(317,593)
Commercial mortgage and other loans	(1,341,450)	(1,076,351)		(565,222)
Other invested assets	(190,826)	(166,345)		(148,842)
Notes receivable from parent and affiliates, net				(54,026)
Notes receivable from parent and affiliates, net	4,456	771
Derivatives, net	(55,091)	(366,805)		(3,234)
Other, net	(4,808)	57,687		(10,392)
Cash flows from (used in) investing activities	(9,639,503)	(6,114,134)		(699,329)
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits	12,101,043	9,996,128		5,690,619
Ceded policyholders’ account deposits	(1,189,331)	(1,216,195)		(1,149,254)
Policyholders’ account withdrawals	(3,695,248)	(3,727,579)		(3,927,948)
Ceded policyholders’ account withdrawals	625,238	638,392		326,680
Net change in securities sold under agreement to repurchase and cash collateral for loaned securities	131,577	83,762		287
Contributed / (return of) capital		0		776,657
Contributed / (return of) capital	(995,000)
Contributed (distributed) capital - parent/child asset transfers	2,919	(11,478)		(6,148)
Net change in all other financing arrangements (maturities 90 days or less)	(584)	584		0
Proceeds from the issuance of debt (maturities longer than 90 days)	0	0		323,839
Repayments of debt (maturities longer than 90 days)	(121,772)	0		0
Drafts outstanding	(885)	63,579		43,741
Other, net	63,816	(59,327)		(3,251)
Cash flows from (used in) financing activities	6,921,773	5,767,866		2,075,222
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(257,835)	1,478,696		491,952
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	2,397,627	918,931		426,979
CASH AND CASH EQUIVALENTS, END OF YEAR	2,139,792	2,397,627		918,931
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid (refund)	67,203	39,201		391,015
Interest paid	$ 4,533	$ 7,863		$ 6,341
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions		12 Months Ended
	Dec. 01, 2021	Dec. 31, 2023	Dec. 31, 2022
Assets | The Prudential Insurance Company of America
Non-cash activity			$ 18
FLIAC | Reinsurance agreement
Non-cash activity		$ 475	4,656
Lotus Re | Reinsurance agreement
Non-cash activity			$ 531
PALAC | Variable and fixed annuities | Investment transfers
Non-cash activity	$ 2,600
PALAC | Variable and fixed annuities | Dividend payment in securities
Non-cash activity	$ 200

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 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 subsidiaries 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”). 2021 Variable Annuities Recapture Effective July 1, 2021, the Company recaptured the risks related to its variable annuity base contracts, along with the living benefit guarantees, that had previously been reinsured to PALAC from April 1, 2016 through June 30, 2021. The recapture does not impact PLNJ, which will continue to reinsure its new and in force 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 are being managed within the Company. This transaction is referred to as the "2021 Variable Annuities Recapture". The day 1 impact of the Variable Annuities Recapture resulted in the following significant non-cash transactions: • The increase in total investments includes non-cash activities of $8.3 billion related to the recapture transaction. • The Company incurred a loss related to ceding commissions of $2 billion. • The increase in Additional paid-in capital includes non-cash activities of $3.4 billion in invested assets related to capital contributions from Prudential Insurance Affiliated Asset Transfers Affiliate Period Transaction Security Type Fair Value Book Value APIC/ Retained Earnings Increase/(Decrease) Realized Investment Gain/(Loss), Net Derivative Gain/(Loss) (in millions) PALAC July 1, 2021 Purchase Derivatives, Fixed Maturities, Equity Securities, Commercial Mortgages and JV/LP Investments $ 4,908 $ 4,908 $ 0 $ 0 $ 0 Prudential Insurance July 1, 2021 Contributed Capital Fixed Maturities $ 3,420 $ 3,420 $ 3,420 $ 0 $ 0 As part of the recapture transaction, the Company received invested assets of $6.8 billion, net of $2 billion ceding commissions as consideration from PALAC, which is equivalent to the amount of statutory reserve credit taken as of June 30, 2021. The Company released a reinsurance recoverable of $11.6 billion. The Company derecognized its ceded DAC and Deferred Sales Inducements ("DSI") balances as of June 30, 2021. The company also recognized a net deferred reinsurance loss from the original transaction of $0.2 billion. As a result of the recapture transaction, the Company recognized a pre-tax loss of $2.9 billion immediately. There was a $3.8 billion capital contribution from Prudential Insurance, which includes $3.4 billion in invested assets and $0.4 billion in cash. 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. As a result, the Company recognized a deferred reinsurance loss of $238 million. As of December 31, 2021, the reinsurance recoverable from the reinsurance of indexed variable annuities was $7.2 billion, and the Policyholders' account balances resulting from the reinsurance of variable and fixed indexed annuities and fixed annuities with a guaranteed lifetime withdrawal income benefit was $9.8 billion. 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 and 2021 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 Consolidated Financial Statements. The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Financial Statements include the accounts of Pruco Life and entities over which the Company exercises control, including majority-owned subsidiaries. Intercompany balances and transactions have been eliminated. Adoption of ASU 2018-12 In August 2018, the Financial Accounting Standards Board ("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 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 originally reported for 2022 and 2021, the effect upon those amounts from the adoption of the new guidance under ASU 2018-12 Consolidated Statements of Financial Position: December 31, 2022 IMPACTED LINES ONLY As Originally 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 Consolidated Statements of Operations and Comprehensive Income (Loss): Year Ended December 31, 2022 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) REVENUES Premiums $ 274,783 $ (9,575) $ 265,208 Policy charges and fee income 1,731,957 (501,356) 1,230,601 Other income (loss) (661,860) 10,391 (651,469) Realized investment gains (losses), net 1,041,435 (705,053) 336,382 Change in value of market risk benefits, net of related hedging gain (loss) 0 (700,581) (700,581) TOTAL REVENUES 3,554,498 (1,906,174) 1,648,324 BENEFITS AND EXPENSES Policyholders’ benefits 609,392 (151,019) 458,373 Change in estimates of liability for future policy benefits 0 55,099 55,099 Interest credited to policyholders’ account balances 517,488 (72,273) 445,215 Amortization of deferred policy acquisition costs 857,385 (337,109) 520,276 General, administrative and other expenses 1,154,229 2,235 1,156,464 TOTAL BENEFITS AND EXPENSES 3,138,494 (503,067) 2,635,427 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 416,004 (1,403,107) (987,103) Income tax expense (benefit) (882) (294,653) (295,535) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 416,886 (1,108,454) (691,568) NET INCOME (LOSS) $ 341,749 $ (1,108,454) $ (766,705) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (2,430,238) 176,201 (2,254,037) Interest rate remeasurement of future policy benefits 0 310,353 310,353 Gain (loss) from changes in non-performance risk on market risk benefits 0 1,440,305 1,440,305 Total (2,439,575) 1,926,859 (512,716) Less: Income tax expense (benefit) related to other comprehensive income (loss) (510,840) 404,643 (106,197) Other comprehensive income (loss), net of taxes (1,928,735) 1,522,216 (406,519) Comprehensive income (loss) $ (1,586,986) $ 413,762 $ (1,173,224) Year Ended December 31, 2021 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) REVENUES Premiums $ 203,676 $ (19,218) $ 184,458 Policy charges and fee income 1,529,757 (229,662) 1,300,095 Other income (loss) 267,208 (4,788) 262,420 Realized investment gains (losses), net (5,295,406) 4,908,512 (386,894) Change in value of market risk benefits, net of related hedging gain (loss) 0 (4,222,530) (4,222,530) TOTAL REVENUES (2,542,353) 432,314 (2,110,039) BENEFITS AND EXPENSES Policyholders’ benefits 655,910 (573,200) 82,710 Change in estimates of liability for future policy benefits 0 27,008 27,008 Interest credited to policyholders’ account balances (114,585) (36,804) (151,389) Amortization of deferred policy acquisition costs 342,118 (16,523) 325,595 General, administrative and other expenses (523,925) 151 (523,774) TOTAL BENEFITS AND EXPENSES 359,518 (599,368) (239,850) INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (2,901,871) 1,031,682 (1,870,189) Income tax expense (benefit) (691,439) 216,653 (474,786) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (2,210,432) 815,029 (1,395,403) NET INCOME (LOSS) $ (2,209,730) $ 815,029 $ (1,394,701) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (247,176) 36,690 (210,486) Interest rate remeasurement of future policy benefits 0 37,274 37,274 Gain (loss) from changes in non-performance risk on market risk benefits 0 (435,232) (435,232) Total (251,067) (361,268) (612,335) Less: Income tax expense (benefit) related to other comprehensive income (loss) (52,374) (75,867) (128,241) Other comprehensive income (loss), net of taxes (198,693) (285,401) (484,094) Comprehensive income (loss) $ (2,408,423) $ 529,628 $ (1,878,795) Consolidated Statements of Cash Flows: Year Ended December 31, 2022 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 341,749 $ (1,108,454) $ (766,705) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (78,754) 210,690 131,936 Interest credited to policyholders’ account balances 517,488 (72,273) 445,215 Realized investment (gains) losses, net (1,041,435) 705,053 (336,382) Change in value of market risk benefits, net of related hedging (gains) losses 0 700,581 700,581 Change in: Future policy benefits and other insurance liabilities 2,407,887 1,335,893 3,743,780 Reinsurance recoverables (1,181,692) (1,072,598) (2,254,290) Deferred policy acquisition costs (105,194) (337,109) (442,303) Income taxes (40,095) (294,674) (334,769) Other, net 1,635,056 (67,109) 1,567,947 Cash flows from (used in) operating activities $ 1,824,964 $ 0 $ 1,824,964 Year Ended December 31, 2021 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (2,209,730) $ 815,029 $ (1,394,701) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (21,763) 187,438 165,675 Interest credited to policyholders’ account balances (114,585) (36,804) (151,389) Realized investment (gains) losses, net 5,295,406 (4,908,512) 386,894 Change in value of market risk benefits, net of related hedging (gains) losses 0 4,222,530 4,222,530 Change in: Future policy benefits and other insurance liabilities 2,080,967 (249,447) 1,831,520 Reinsurance recoverables (1,304,306) 169,623 (1,134,683) Deferred policy acquisition costs (3,926,121) (141,825) (4,067,946) Income taxes (1,082,459) 240,352 (842,107) Other, net 1,674,972 (298,384) 1,376,588 Cash flows from (used in) operating activities $ (883,941) $ 0 $ (883,941) 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 (“MRBs”) 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 for reasons unrelated to the adoption of ASU 2018-12 to conform to the current period presentation.

Significant Accounting Policies

Significant Accounting Policies and Pronouncements	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies and Pronouncements	SIGNIFICANT ACCOUNTING POLICIES AND PRONOUNCEMENTS ASSETS Fixed maturities, available-for-sale, at fair value ("AFS debt securities") includes bonds, notes and redeemable preferred stock that are carried at fair value. See Note 5 for additional information regarding the determination of fair value. The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. AFS debt securities, where fair value is below amortized cost, are reviewed quarterly to determine whether the amortized cost basis of the security is recoverable. For mortgage-backed and asset-backed AFS debt securities, a credit impairment will be recognized in earnings as an allowance for credit losses and reported in “Realized investment gains (losses), net,” to the extent the amortized cost exceeds the net present value of projected future cash flows (the “net present value”) for the security. However, the credit impairment recorded cannot exceed the difference between the amortized cost and fair value of the respective security. The net present value used to measure a credit impairment is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the AFS debt security at the date of acquisition. Once the Company has deemed all or a portion of the amortized cost uncollectible, the allowance is removed from the balance sheet by writing down the amortized cost basis of the AFS debt security. Any amount of an AFS debt security’s change in fair value not recorded as an allowance for credit losses will be recorded in Other Comprehensive Income (loss) (“OCI”). For all other AFS debt securities, qualitative factors are first considered including, but not limited to, the extent of the decline and the reasons for the decline in value (e.g., credit events, currency or interest-rate related, including general credit spread widening), and the financial condition of the issuer. If analysis of these qualitative factors results in the security needing to be impaired, a credit impairment will be recognized and measured using the same process for mortgage-backed and asset-backed AFS debt securities. When an AFS debt security's fair value is below amortized cost and the Company has the intent to sell the AFS debt security, or it is more likely than not the Company will be required to sell the AFS debt security before its anticipated recovery, the amortized cost basis of the AFS debt security is written down to fair value and any previously recognized allowance is reversed. The write-down is reported in "Realized investment gains (losses), net". Interest income, including amortization of premium and accretion of discount, are included in “Net investment income” under the effective yield method. Prepayment premiums are also included in “Net investment income”. For high credit quality mortgage-backed and asset-backed AFS debt securities (those rated AA or above), the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to “Net investment income” in accordance with the retrospective method. For mortgage-backed and asset-backed AFS debt securities rated below AA, the effective yield is adjusted prospectively for any changes in the estimated timing and amount of cash flows unless the investment is purchased with credit deterioration or an allowance is currently recorded for the respective security. If an investment is impaired, any changes in the estimated timing and amount of cash flows will be recorded as the credit impairment, as opposed to a yield adjustment. If the asset is purchased with credit deterioration (or previously impaired), the effective yield will be adjusted if there are favorable changes in cash flows subsequent to the allowance being reduced to zero. For mortgage-backed and asset-backed AFS debt securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. These assumptions can significantly impact income recognition, unrealized gains and loss recorded in OCI, and the amount of impairment recognized in earnings. The payment priority of the respective security is also considered. For all other AFS debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. Fixed maturities, trading, at fair value ("Trading debt securities") includes debt securities that are carried at fair value. See Note 5 for additional information regarding the determination of fair value. Realized and unrealized gains and losses for these investments are reported in “Other income (loss),” and interest income from these investments is reported in “Net investment income”. Equity securities, at fair value consists of common stock and mutual fund shares carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and dividend income is reported in “Net investment income” on the ex-dividend date. Policy loans represents funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Short-term investments primarily consists of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased. These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government sponsored entities and other highly liquid debt instruments. Commercial mortgage and other loans consist of commercial mortgage loans and agricultural property loans. Commercial mortgage and other loans held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses and net of any current expected credit loss ("CECL") allowance. Certain off-balance sheet credit exposures (e.g., indemnification of serviced mortgage loans, and certain unfunded mortgage loan commitments where the Company cannot unconditionally cancel the commitment) are also subject to a CECL allowance. See Note 16 for additional information. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income.” The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets or off-balance sheet credit exposures. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. The allowance is calculated separately for commercial mortgage loans, agricultural mortgage loans, other collateralized and uncollateralized loans. For commercial mortgage and agricultural mortgage loans, the allowance is calculated using an internally developed CECL model that pools together loans that share similar risk characteristics. Similar risk characteristics used to create the pools include, but are not limited to, vintage, maturity, credit rating, and collateral type. Key inputs to the CECL model include unpaid principal balances, internal credit ratings, annual expected loss factors, average lives of the loans adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Information about certain key inputs is detailed below. Key factors in determining the internal credit ratings for commercial mortgage and agricultural mortgage loans include loan-to-value and debt-service-coverage ratios. Other factors include amortization, loan term, and estimated market value growth rate and volatility for the property type and region. The loan-to-value ratio compares the carrying amount of the loan to the fair value of the underlying property or properties collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the carrying amount of the loan exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the carrying amount of the loan. The debt service coverage ratio is a property’s net operating income as a percentage of its debt service payments. Debt service coverage ratios less than 1.0 indicates that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. Annual expected loss rates are based on historical default and loss experience factors. Using average lives, the annual expected loss rates are converted into life-of-loan loss expectations. When individual loans no longer have the credit risk characteristics of the commercial or agricultural mortgage loan pools, they are removed from the pools and are evaluated individually for an allowance. The allowance is determined based on the outstanding loan balance less the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. The CECL allowance on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. The change in allowance is reported in “Realized investment gains (losses), net”. As it relates to unfunded commitments that are in scope of this guidance, the CECL allowance is reported in “Other liabilities”, and the change in the allowance is reported in “Realized investment gains (losses), net”. The CECL allowance for other collateralized and uncollateralized loans (e.g., corporate loans) carried at amortized cost is determined based on probability of default and loss given default assumptions by sector, credit quality and average lives of the loans. Additions to or releases of the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed a portion of the amortized cost to be uncollectible, the uncollectible portion of allowance is removed from the balance sheet by writing down the amortized cost basis of the loan. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Interest received on loans that are past due is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged against interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. Commercial mortgage and other loans are occasionally restructured. These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt. Effective January 1, 2023, the Company adopted ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosure , on a prospective basis. This ASU eliminates the accounting guidance for Troubled Debt Restructurings (“TDR”) for creditors and requires all loan restructurings to follow the modification guidance in ASC 310-20. Prior to the adoption of ASU 2022-02, when restructurings occurred, they were evaluated individually to determine whether the restructuring or modification constituted a TDR as defined by authoritative accounting guidance. If the borrower was experiencing financial difficulty and the Company granted a concession, the restructuring, including those that involved a partial payoff or the receipt of assets in full satisfaction of the debt was deemed to be a TDR. 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. Post adoption of ASU 2022-02, all restructurings are evaluated under the modification guidance in ASC 310-20. When a loan is modified, the Company evaluates whether the restructuring results in a continuation of the existing loan or a new loan. For modifications that result in a continuation of the existing loan, the CECL allowance of the loan is remeasured using the modified terms, including the loan’s post-modification effective yield, and the allowance is adjusted accordingly. For modifications that result in a new loan, any CECL allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the new loan and the recorded investment in the loan. The new loan is evaluated prospectively for credit impairment based on the CECL allowance process noted above. Other invested assets consist of the Company’s non-coupon investments in limited partnerships and limited liability companies ("LPs/LLCs"), other than operating joint ventures, as well as derivative assets. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value. The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income”. 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. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. For the investments reported at fair value with changes in fair value reported in current earnings, the associated realized and unrealized gains and losses are reported in “Other income (loss)”. Realized investment gains (losses) are computed using the specific identification method. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as changes to the allowance for credit losses recognized in earnings. Realized investment gains and losses also reflect fair value changes on commercial mortgage loans carried at fair value, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. Cash and cash equivalents includes cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in "Fixed maturities, available-for-sale, at fair value,” and receivables related to securities purchased under agreements to resell (see also "Securities sold under agreements to purchase" below.) The Company also engages in overnight borrowing and lending of funds with Prudential Financial and affiliates which are considered cash and cash equivalents. These assets are generally carried at fair value or amortized cost which approximates fair value. 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”. Upon the adoption of ASU 2018-12, the carrying amount of DAC for long-duration contracts is no longer subject to recoverability testing. DAC for most long-duration contracts 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. Accrued investment income primarily includes accruals of interest and dividend income from investments that have been earned but not yet received. 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. For reinsurance of limited-payment contracts, the Company establishes a cost of reinsurance asset relating to the direct DPL and amortizes this balance through “Premiums” using the same methodology and assumptions used to amortize the direct DPL. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference between the fair value of the net consideration exchanged and the net liabilities ceded related to the underlying reinsured contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. This initial net cost of reinsurance is deferred and amortized into income over the remaining life of the reinsured policies on a basis consistent with the methodologies and assumptions used for amortizing DAC. This initial net cost of reinsurance may result in a deferred reinsurance gain which is recorded in "Other liabilities" and amortized through "Other income (loss)", or a deferred reinsurance loss which is recorded in "Other assets" and amortized through "General, administrative and other expenses". 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)". Coinsurance arrangements contrast with the Company’s yearly renewable term ("YRT") 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 YRT 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 YRT 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. 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. Income tax assets primarily represents the net deferred tax asset and the Company’s estimated taxes receivable for the current year and open audit years. The Company is a member of the federal income tax return of Prudential Financial and primarily files separate company state and local tax returns. Pursuant to the tax allocation arrangement with Prudential Financial, total federal income tax expense is determined on a separate company basis. Members record tax benefits to the extent tax losses or tax credits are recognized in the consolidated federal tax provision. Items required by tax regulations to be included in the tax return may differ from the items reflected in the financial statements. As a result, the effective tax rate reflected in the financial statements may be different than the actual rate applied on the tax return. Some of these differences are permanent such as expenses that are not deductible in the Company’s tax return, and some differences are temporary, reversing over time, such as valuation of insurance reserves. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that can be used as a tax deduction or credit in future years for which the Company has already recorded the tax benefit in the Company’s Consolidated Statements of Operations. Deferred tax liabilities generally represent tax expense recognized in the Company’s financial statements for which payment has been deferred, or expenditures for which the Company has already taken a deduction in the Company’s tax return but have not yet been recognized in the Company’s financial statements. Deferred income taxes are recognized, based on enacted rates, when assets and liabilities have different values for financial statement and tax reporting purposes. The application of U.S. GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance if necessary to reduce the Company’s deferred tax assets to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. See Note 12 for a discussion of factors considered when evaluating the need for a valuation allowance. U.S. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process. First, the Company determines whether it is more likely than not, based on the tech

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Investments	3. 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: December 31, 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 $ 1,009,937 $ 38,858 $ 73,508 $ 0 $ 975,287 Obligations of U.S. states and their political subdivisions 789,856 5,288 18,517 0 776,627 Foreign government bonds 330,830 1,840 50,684 0 281,986 U.S. public corporate securities 10,159,089 98,047 760,274 950 9,495,912 U.S. private corporate securities 5,207,699 37,435 254,828 812 4,989,494 Foreign public corporate securities 1,809,347 12,658 115,673 238 1,706,094 Foreign private corporate securities 4,902,391 109,806 381,215 0 4,630,982 Asset-backed securities(1) 2,016,028 23,035 11,512 1 2,027,550 Commercial mortgage-backed securities 913,347 4,776 66,345 0 851,778 Residential mortgage-backed securities(2) 399,542 4,016 7,481 7 396,070 Total fixed maturities, available-for-sale $ 27,538,066 $ 335,759 $ 1,740,037 $ 2,008 $ 26,131,780 (1) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans and home equity. (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 fixed maturity, available-for-sale 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: December 31, 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 $ 98,174 $ 945 $ 214,889 $ 72,563 $ 313,063 $ 73,508 Obligations of U.S. states and their political subdivisions 83,729 293 218,375 18,224 302,104 18,517 Foreign government bonds 10,226 116 233,757 50,568 243,983 50,684 U.S. public corporate securities 782,904 10,009 5,201,353 750,265 5,984,257 760,274 U.S. private corporate securities 707,674 16,613 2,794,697 238,181 3,502,371 254,794 Foreign public corporate securities 92,955 1,063 948,963 114,169 1,041,918 115,232 Foreign private corporate securities 429,212 8,035 2,461,367 373,180 2,890,579 381,215 Asset-backed securities 208,970 1,761 532,814 9,750 741,784 11,511 Commercial mortgage-backed securities 42,621 298 580,931 66,047 623,552 66,345 Residential mortgage-backed securities 35,904 435 124,956 7,046 160,860 7,481 Total fixed maturities, available-for-sale $ 2,492,369 $ 39,568 $ 13,312,102 $ 1,699,993 $ 15,804,471 $ 1,739,561 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 U.S. government authorities and agencies $ 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 December 31, 2023 and 2022, the gross unrealized losses on fixed maturity, available-for-sale securities without an allowance of $1,633.9 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 $105.7 million and $189.4 million, respectively, related to other than high or highest quality securities based on NAIC or equivalent rating. As of December 31, 2023, the $1,700.0 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, the Company concluded that an adjustment to earnings for credit losses related to these fixed maturity securities was not warranted at December 31, 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 and foreign currency exchange rate movements. As of December 31, 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, available-for-sale by contractual maturities, as of the date indicated: December 31, 2023 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 553,892 $ 546,321 Due after one year through five years 8,444,655 8,239,529 Due after five years through ten years 7,626,127 7,378,674 Due after ten years 7,584,475 6,691,858 Asset-backed securities 2,016,028 2,027,550 Commercial mortgage-backed securities 913,347 851,778 Residential mortgage-backed securities 399,542 396,070 Total fixed maturities, available-for-sale $ 27,538,066 $ 26,131,780 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, available-for-sale, for the periods indicated: Years Ended December 31 2023 2022 2021 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 460,596 $ 1,117,293 $ 790,331 Proceeds from maturities/prepayments 1,218,844 624,640 465,347 Gross investment gains from sales and maturities 11,482 5,647 14,972 Gross investment losses from sales and maturities (43,078) (58,432) (16,674) Write-offs recognized in earnings(2) (2,358) (20,600) (2) (Addition to) release of allowance for credit losses 2,761 (620) (1,810) (1) Excludes activity from non-cash related proceeds due to the timing of trade settlements of $57.4 million, $(53.9) million and $(4.4) million for the years ended December 31, 2023, 2022 and 2021, 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 available-for-sale securities, as of the dates indicated: Year Ended December 31, 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 4,267 1 0 0 4,268 Reductions for securities sold during the period 0 (1) (5,118) 0 0 (1) (5,120) Additions (reductions) on securities with previous allowance 0 (4) 436 0 0 (1) 431 Write-downs charged against the allowance 0 0 (2,340) 0 0 0 (2,340) Balance, end of period $ 0 $ 0 $ 2,000 $ 1 $ 0 $ 7 $ 2,008 Year Ended December 31, 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 12,700 0 0 7 13,036 Reductions for securities sold during the period 0 (96) (1,702) 0 0 0 (1,798) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 85 6,285 0 0 2 6,372 Balance, end of period $ 0 $ 5 $ 4,755 $ 0 $ 0 $ 9 $ 4,769 Year Ended December 31, 2021 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 $ 2,339 $ 0 $ 0 $ 0 $ 2,339 Additions to allowance for credit losses not previously recorded 0 11 2,664 0 0 0 2,675 Reductions for securities sold during the period 0 0 (28) 0 0 0 (28) Additions (reductions) on securities with previous allowance 0 0 (837) 0 0 0 (837) Balance, end of period $ 0 $ 11 $ 4,138 $ 0 $ 0 $ 0 $ 4,149 See Note 2 for additional information about the Company's methodology for developing our allowance and expected losses. For the year ended December 31, 2023, the net decrease in the allowance for credit losses on available-for-sale securities was primarily related to net reductions within the capital goods and utility sectors within corporate securities due to restructurings, partially offset by net additions within the finance sector within corporate securities due to adverse projected cashflows. For the year ended December 31, 2022, the net increase in the allowance for credit losses on available-for-sale securities was primarily related to net additions in the capital goods and utility sectors within private corporate securities due to adverse projected cash flows, partially offset by a net release on restructured private corporate securities within the communications and transportation sectors. The Company did not have any fixed maturity securities purchased with credit deterioration as of both December 31, 2023 and 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 $65.6 million, $(728.6) million and $156.1 million during the years ended December 31, 2023, 2022 and 2021, respectively. Equity Securities The net change in unrealized gains (losses) from equity securities still held at period end, recorded within “Other income (loss)” was $25.8 million, $(10.2) million and $2.1 million during the years ended December 31, 2023, 2022 and 2021, respectively. Commercial Mortgage and Other Loans The following table sets forth the composition of “Commercial mortgage and other loans” as of the dates indicated: December 31, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,578,785 25.7 % $ 1,289,026 26.0 % Hospitality 102,952 1.7 104,177 2.1 Industrial 2,486,230 40.4 1,766,247 35.8 Office 604,611 9.8 590,897 11.9 Other 456,720 7.4 380,121 7.7 Retail 363,706 5.9 351,457 7.1 Total commercial mortgage loans 5,593,004 90.9 4,481,925 90.6 Agricultural property loans 562,046 9.1 467,018 9.4 Total commercial mortgage and agricultural property loans 6,155,050 100.0 % 4,948,943 100.0 % Allowance for credit losses (37,689) (20,263) Net commercial mortgage and agricultural property loans 6,117,361 4,928,680 Other loans: Other collateralized loans 5,360 0 Total other loans 5,360 0 Net commercial mortgage and other loans $ 6,122,721 $ 4,928,680 As of December 31, 2023, the commercial mortgage and agricultural property loans were secured by properties geographically dispersed throughout the United States with the largest concentrations in California (28%), Texas (12%) and Colorado (5%) and included loans secured by properties in Europe (10%), Mexico (1%) and Australia (1%). The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Balance at December 31, 2020 $ 4,546 $ 6 $ 4,552 Addition to (release of) allowance for expected losses 1,301 98 1,399 Balance at December 31, 2021 5,847 104 5,951 Addition to (release of) allowance for expected losses 13,818 494 14,312 Balance at December 31, 2022 19,665 598 20,263 Addition to (release of) allowance for expected losses 17,093 333 17,426 Balance at December 31, 2023 $ 36,758 $ 931 $ 37,689 See Note 2 for additional information about the Company's methodology for developing our allowance and expected losses. For the year ended December 31, 2023, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to increases to the portfolio reserve to reflect declining market conditions and loan specific reserves, both within the office sector, as well as loan originations. For the year ended December 31, 2022, the net increase in the allowance for credit losses on commercial mortgage and other loans was primarily related to loan originations and declining market conditions, partially offset by loan repayments and payoffs. 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: December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 249,037 $ 245,914 $ 482,718 $ 109,249 $ 265,053 $ 1,068,763 $ 2,420,734 60%-69.99% 675,153 355,984 449,878 172,721 225,803 206,237 2,085,776 70%-79.99% 218,015 133,343 255,299 77,812 20,924 86,806 792,199 80% or greater 0 47,555 73,702 3,817 16,508 152,713 294,295 Total $ 1,142,205 $ 782,796 $ 1,261,597 $ 363,599 $ 528,288 $ 1,514,519 $ 5,593,004 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 1,038,315 $ 779,282 $ 1,261,597 $ 292,561 $ 497,407 $ 1,402,831 $ 5,271,993 1.0 - 1.2x 103,890 3,514 0 0 15,632 40,521 163,557 Less than 1.0x 0 0 0 71,038 15,249 71,167 157,454 Total $ 1,142,205 $ 782,796 $ 1,261,597 $ 363,599 $ 528,288 $ 1,514,519 $ 5,593,004 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 73,774 $ 179,375 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 452,661 60%-69.99% 47,489 56,210 0 0 0 0 103,699 70%-79.99% 5,686 0 0 0 0 0 5,686 80% or greater 0 0 0 0 0 0 0 Total $ 126,949 $ 235,585 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 562,046 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 126,949 $ 233,585 $ 130,353 $ 24,063 $ 15,824 $ 25,771 $ 556,545 1.0 - 1.2x 0 2,000 0 1,812 0 0 3,812 Less than 1.0x 0 0 1,689 0 0 0 1,689 Total $ 126,949 $ 235,585 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 562,046 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 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: December 31, 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 $ 5,593,004 $ 0 $ 0 $ 0 $ 5,593,004 $ 0 Agricultural property loans 562,046 0 0 0 562,046 1,301 Other collateralized loans 5,360 0 0 0 5,360 0 Total $ 6,160,410 $ 0 $ 0 $ 0 $ 6,160,410 $ 1,301 (1) As of December 31, 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. 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. Loans on non-accrual status did not recognize any interest income and did not have a related allowance for credit losses for the year ended December 31, 2023. For the years ended December 31, 2023 and 2022, there were $0.0 million and $27.6 million, respectively, of commercial mortgage loans acquired, other than those through direct origination. For the years ended December 31, 2023 and 2022, there were $0.0 million and $24.8 million, respectively, 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 December 31, 2023 and 2022. Other Invested Assets The following table sets forth the composition of “Other invested assets”, as of the dates indicated: December 31, 2023 2022 (in thousands) LPs/LLCs: Equity method: Private equity $ 333,863 $ 287,969 Hedge funds 720,360 576,595 Real estate-related 83,339 107,429 Subtotal equity method 1,137,562 971,993 Fair value: Private equity 48,483 59,146 Hedge funds 137 396 Real estate-related 18,687 9,457 Subtotal fair value 67,307 68,999 Total LPs/LLCs 1,204,869 1,040,992 Derivative instruments 17,718 47,111 Other(1) 398 510 Total other invested assets $ 1,222,985 $ 1,088,613 (1) Assets consist of investments in separate account funds. Equity Method Investments The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities. December 31, 2023 2022 (in thousands) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 44,591,082 $ 67,721,613 Total liabilities(2) $ 2,802,022 $ 12,174,133 Partners’ capital 41,789,060 55,547,480 Total liabilities and partners’ capital $ 44,591,082 $ 67,721,613 Total liabilities and partners’ capital included above $ 979,271 $ 815,783 Equity in LP/LLC interests not included above 216,205 214,442 Carrying value $ 1,195,476 $ 1,030,225 (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds and other miscellaneous liabilities. Years Ended December 31, 2023 2022 2021 (in thousands) STATEMENTS OF OPERATIONS Total revenue(1) $ 3,465,807 $ 11,062,060 $ 11,031,051 Total expenses(2) (979,287) (1,655,673) (2,044,942) Net earnings (losses) $ 2,486,520 $ 9,406,387 $ 8,986,109 Equity in net earnings (losses) included above $ 17,795 $ (36,513) $ 62,173 Equity in net earnings (losses) of LP/LLC interests not included above 11,792 7,320 28,765 Total equity in net earnings (losses) $ 29,587 $ (29,193) $ 90,938 (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses. Accrued Investment Income The following table sets forth the composition of “Accrued investment income,” as of the dates indicated: December 31, 2023 2022 (in thousands) Fixed maturities $ 272,031 $ 187,628 Equity securities 220 349 Commercial mortgage and other loans 21,070 13,335 Policy loans 35,210 14,525 Other invested assets 43 48 Short-term investments and cash equivalents 5,264 3,750 Total accrued investment income $ 333,838 $ 219,635 There were no write-downs on accrued investment income for the years ended December 31, 2023 and 2022. Net Investment Income The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in thousands) Fixed maturities, available-for-sale $ 1,139,581 $ 589,248 $ 299,607 Fixed maturities, trading 96,128 55,790 38,778 Equity securities 14,772 8,226 530 Commercial mortgage and other loans 231,994 119,358 63,548 Policy loans 48,118 21,189 69,602 Other invested assets 98,369 101,289 104,375 Short-term investments and cash equivalents 123,857 44,182 712 Gross investment income 1,752,819 939,282 577,152 Less: investment expenses (77,297) (55,281) (26,917) Net investment income $ 1,675,522 $ 884,001 $ 550,235 The carrying value of non-income producing assets included $9.2 million in fixed maturities, available-for-sale and less than $1 million in fixed maturities trading as of December 31, 2023. Non-income producing assets represent investments that had not produced income for the twelve months preceding December 31, 2023. Realized Investment Gains (Losses), Net The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in thousands) Fixed maturities(1) $ (31,193) $ (74,005) $ (3,514) Commercial mortgage and other loans (17,854) (18,201) 1,535 Other invested assets 36,246 (78,671) (2,737) Derivatives(2)(3) (1,072,892) 507,313 (382,531) Short-term investments and cash equivalents 2,033 (54) 353 Realized investment gains (losses), net(3) $ (1,083,660) $ 336,382 $ (386,894) (1) Excludes fixed maturity securities classified as trading. (2) Includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. (3) Prior period amounts reflect 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: December 31, 2023 2022 2021 (in thousands) Fixed maturity securities, available-for-sale with an allowance $ 1,987 $ 4,371 $ 3,685 Fixed maturity securities, available-for-sale without an allowance (1,406,265) (2,285,288) 540,881 Derivatives designated as cash flow hedges(1) 11,934 138,627 39,896 Affiliated notes (8,760) (13,189) 73 Other investments(2)(3) (1,089) (1,176) 868 Net unrealized gains (losses) on investments(3) $ (1,402,193) $ (2,156,655) $ 585,403 (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 reflect 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 December 31, 2023 and 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: December 31, 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 $ 486 $ 0 $ 486 $ 506 $ 0 $ 506 U.S. public corporate securities 27,247 0 27,247 7,903 0 7,903 Foreign public corporate securities 13,101 0 13,101 12,873 0 12,873 Equity securities 177,476 0 177,476 65,468 0 65,468 Total cash collateral for loaned securities(1) $ 218,310 $ 0 $ 218,310 $ 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. Securities Pledged, Restricted Assets and Special Deposits The Company pledges as collateral investment securities it owns to unaffiliated parties through certain transactions, including securities lending, securities sold under agreements to repurchase, collateralized borrowings and postings of collateral with derivative counterparties. The following table sets forth the carrying value of investments pledged to third-parties and the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2023 2022 (in thousands) Pledged collateral: Fixed maturity securities, available-for-sale $ 39,344 $ 20,553 Equity securities 172,995 63,895 Total securities pledged $ 212,339 $ 84,448 Liabilities supported by the pledged collateral: Cash collateral for loaned securities $ 218,310 $ 86,750 Total liabilities supported by the pledged collateral $ 218,310 $ 86,750 In the normal course of its business activities, the Company accepts collateral that can be sold or repledged. The primary sources of this collateral are securities purchased under agreements to resell. As of December 31, 2023 and 2022, there were $25 million and $290 million, respectively, of collateral that could be sold or repledged. As of December 31, 2023 and 2022, there were fixed maturities, available-for-sale of $3.6 million and $3.9 million, respectively, on deposit with governmental authorities or trustees as required by certain insurance laws.

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	DERIVATIVES AND HEDGING Types of Derivative Instruments and Derivative Strategies Interest Rate Contracts Interest rate swaps, options, and futures are used by the Company to reduce risks from changes in interest rates, manage interest rate exposures arising from mismatches between assets and liabilities and to hedge against changes in their values it owns or anticipates acquiring or selling. Swaps may be attributed to specific assets or liabilities or to a portfolio of assets or liabilities. Under interest rate swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed upon notional principal amount. The Company also uses interest rate swaptions, caps and floors to manage interest rate risk. A swaption is an option to enter into a swap with a forward starting effective date. The Company pays a premium for purchased swaptions and receives a premium for written swaptions. In an interest rate cap, the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. Similarly, in an interest rate floor, the buyer receives payments at the end of each period in which the interest rate is below the agreed strike price. Swaptions, caps and floors are included in interest rate options. In standardized exchange-traded interest rate futures transactions, the Company purchases or sells a specified number of contracts, the values of which are determined by the daily market values of underlying referenced investments. The Company enters into exchange-traded futures with regulated futures commission's merchants who are members of a trading exchange. Equity Contracts Equity options, total return swaps, and futures are used by the Company to manage its exposure to the equity markets which impacts the value of assets and liabilities it owns or anticipates acquiring or selling. Equity index options are contracts which will settle in cash based on differentials in the underlying indices at the time of exercise and the strike price. The Company uses combinations of purchases and sales of equity index options to hedge the effects of adverse changes in equity indices within a predetermined range. Total return swaps are contracts whereby the Company agrees with counterparties to exchange, at specified intervals, the difference between the return on an asset (or market index) and London Inter-Bank Offered Rate ("LIBOR") or Secured Overnight Financing Rate (“SOFR”) plus an associated funding spread based on a notional amount. The Company generally uses total return swaps to hedge the effect of adverse changes in equity indices. In standardized exchange-traded equity futures transactions, the Company purchases or sells a specified number of contracts, the values of which are determined by the daily market values of underlying referenced equity indices. The Company enters into exchange-traded futures with regulated futures commission's merchants who are members of a trading exchange. Foreign Exchange Contracts Currency derivatives, including currency swaps and forwards, are used by the Company to reduce risks from changes in currency exchange rates with respect to investments denominated in foreign currencies that the Company either holds or intends to acquire or sell. Under currency forwards, the Company agrees with counterparties to deliver a specified amount of an identified currency at a specified future date. Typically, the price is agreed upon at the time of the contract and payment for such a contract is made at the specified future date. The Company executes forward sales of the hedged currency in exchange for U.S. dollars at a specified exchange rate. The maturities of these forwards correspond with the future periods in which the non-U.S. dollar-denominated earnings are expected to be generated. Under currency swaps, the Company agrees with counterparties to exchange, at specified intervals, the difference between one currency and another at an exchange rate and calculated by reference to an agreed principal amount. Generally, the principal amount of each currency is exchanged at the beginning and termination of the currency swap by each party. Credit Contracts The Company writes credit protection to gain exposure similar to investment in public fixed maturity cash instruments. With these credit derivatives the Company sells credit protection on a single name reference, or certain index reference, and in return receives a quarterly premium. This premium or credit spread generally corresponds to the difference between the yield on the referenced name (or an index’s referenced names) public fixed maturity cash instruments and swap rates, at the time the agreement is executed. If there is an event of default by the referenced name or one of the referenced names in the index, as defined by the agreement, then the Company is obligated to pay the referenced amount of the contract to the counterparty and receive in return the referenced defaulted security or similar security or (in the case of a credit default index) pay the referenced amount less the auction recovery rate. In addition to selling credit protection, the Company purchases credit protection using credit derivatives in order to hedge specific credit exposures in the Company’s investment portfolio. Embedded Derivatives The Company offers certain products (for example, indexed annuities and index-linked universal life) which may include features that are accounted for as embedded derivatives; related to certain of these derivatives, the Company has entered into reinsurance agreements with both affiliated and unaffiliated parties. Effective April 1, 2016, the Company entered into reinsurance agreements with PALAC and Prudential Insurance. The reinsurance agreement with PALAC was recaptured on July 1, 2021. Additionally, the Company has entered into a reinsurance agreement with an external counterparty, Union Hamilton Reinsurance, Ltd. ("Union Hamilton") effective April 1, 2015. See Note 11 for additional information on the reinsurance agreements. Effective December 1, 2021, the Company entered into a reinsurance arrangement with FLIAC (previously named PALAC), which includes features that are accounted for as embedded derivatives. See Note 11 for additional information on the reinsurance arrangement. These embedded derivatives and reinsurance agreements, also accounted for as derivatives, are carried at fair value and marked to market through “Realized investment gains (losses), net” based on the change in value of the underlying contractual guarantees, which are determined using valuation models, as described in Note 5. Synthetic Guarantees The Company sells synthetic guarantees in the form of stable value wrap guarantees on third-party banked owned life insurance contracts. The synthetic guarantees are issued in respect of assets that are owned by the third-party insurer, who invest the assets according to the contract terms agreed to with the Company. The contracts establish policyholder balances and credit interest thereon. The policyholder balances are supported by the underlying assets. In connection with certain policyholder-initiated withdrawals, the contract guarantees that after all underlying assets are liquidated, any remaining policyholder balances will be paid by the Company. These guarantees are accounted for as derivatives and recorded at fair value. 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. December 31, 2023 December 31, 2022 Primary Underlying Risk/Instrument Type Gross Fair Value Gross Fair Value Assets Liabilities Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 3,064 $ 0 $ (238) $ 3,225 $ 0 $ (316) Foreign Currency Swaps 2,274,636 121,243 (54,044) 1,933,343 233,812 (10,462) Total Derivatives Designated as Hedge Accounting Instruments $ 2,277,700 $ 121,243 $ (54,282) $ 1,936,568 $ 233,812 $ (10,778) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 163,179,764 $ 6,605,817 $ (17,820,436) $ 138,419,110 $ 6,757,890 $ (17,092,749) Interest Rate Futures 1,332,600 3,055 (210) 2,425,500 3,267 (201) Interest Rate Options 29,738,000 189,112 (969,718) 8,368,000 123,168 (225,125) Interest Rate Forwards 1,458,000 741 (3,196) 1,104,000 11,265 (12,359) Foreign Currency Foreign Currency Forwards 744,576 1,772 (12,232) 364,946 590 (10,423) Credit Credit Default Swaps 643,280 7,727 0 47,450 346 0 Currency/Interest Rate Foreign Currency Swaps 2,237,331 96,618 (31,294) 2,289,170 194,412 (14,624) Equity Total Return Swaps 15,049,993 418,084 (803,452) 15,958,130 120,341 (175,104) Equity Options 49,247,510 1,600,335 (1,552,706) 25,187,516 239,003 (1,112,196) Futures 418,973 1,232 (500) 876,790 956 (513) Synthetic GICs 311,302 1 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 264,361,329 $ 8,924,494 $ (21,193,744) $ 195,040,612 $ 7,451,238 $ (18,643,294) Total Derivatives(1)(2) $ 266,639,029 $ 9,045,737 $ (21,248,026) $ 196,977,180 $ 7,685,050 $ (18,654,072) (1) Excludes embedded derivatives which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $7,402 million and $3,351 million as of December 31, 2023 and 2022, respectively, primarily included in "Policyholders' account balances". (2) Recorded in “Other invested assets” and “Payables to parent and affiliates” on the 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 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 Consolidated Statements of Financial Position. December 31, 2023 Gross Gross Net Financial Net Amount (in thousands) Offsetting of Financial Assets: Derivatives $ 9,045,718 $ (9,028,019) $ 17,699 $ 0 $ 17,699 Securities purchased under agreements to resell 25,000 0 25,000 0 25,000 Total Assets $ 9,070,718 $ (9,028,019) $ 42,699 $ 0 $ 42,699 Offsetting of Financial Liabilities: Derivatives $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 December 31, 2022 Gross Gross Net Financial Net Amount (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 15. 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. 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. Year Ended December 31, 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 $ 2 $ 0 $ (118) $ 0 $ 72 Currency/Interest Rate (636) 0 43,934 (26,206) (126,765) Total cash flow hedges (634) 0 43,816 (26,206) (126,693) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 25,329 (1,555,807) 0 0 0 Currency (16,012) 0 0 0 0 Currency/Interest Rate (102,238) 0 0 (257) 0 Credit 14,350 0 0 0 0 Equity 1,744,218 (821,996) 0 0 0 Embedded Derivatives (2,734,793) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (1,069,146) (2,377,803) 0 (257) 0 Total $ (1,069,780) $ (2,377,803) $ 43,816 $ (26,463) $ (126,693) Year Ended December 31, 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 $ (8) $ 0 $ (312) Currency/Interest Rate 7,636 0 36,734 34,070 99,043 Total cash flow hedges 7,637 0 36,726 34,070 98,731 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 661,978 (5,230,085) 0 0 0 Currency 18,952 0 0 0 0 Currency/Interest Rate 107,388 0 0 557 0 Credit (15,904) 0 0 0 0 Equity 40,076 1,050,139 0 0 0 Embedded Derivatives (312,814) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 499,676 (4,179,946) 0 557 0 Total $ 507,313 $ (4,179,946) $ 36,726 $ 34,627 $ 98,731 Year Ended December 31, 2021 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 $ 2 $ 0 $ 47 $ 0 $ (161) Currency/Interest Rate 1,357 0 15,983 11,119 48,169 Total cash flow hedges 1,359 0 16,030 11,119 48,008 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (53,626) 33,029 0 0 0 Currency 2,006 0 0 0 0 Currency/Interest Rate 44,350 0 0 79 0 Credit 2,892 0 0 0 0 Equity (299,798) (644,967) 0 0 0 Embedded Derivatives (79,714) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (383,890) (611,938) 0 79 0 Total $ (382,531) $ (611,938) $ 16,030 $ 11,198 $ 48,008 (1) Amounts reflect 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, 2020 $ (8,112) Amount recorded in AOCI Interest Rate (112) Currency/Interest Rate 76,628 Total amount recorded in AOCI 76,516 Amount reclassified from AOCI to income Interest Rate (49) Currency/Interest Rate (28,459) Total amount reclassified from AOCI to income (28,508) Balance, December 31, 2021 $ 39,896 Amount recorded in AOCI Interest Rate (319) Currency/Interest Rate 177,483 Total amount recorded in AOCI 177,164 Amount reclassified from AOCI to income Interest Rate 7 Currency/Interest Rate (78,440) Total amount reclassified from AOCI to income (78,433) Balance, December 31, 2022 $ 138,627 Amount recorded in AOCI Interest Rate (44) Currency/Interest Rate (109,673) Total amount recorded in AOCI (109,717) Amount reclassified from AOCI to income Interest Rate 116 Currency/Interest Rate (17,092) Total amount reclassified from AOCI to income (16,976) Balance, December 31, 2023 $ 11,934 The changes in fair value of cash flow hedges are deferred in AOCI and are included in "Net unrealized investment gains (losses)" in the Consolidated Statements of Operations and Comprehensive Income (Loss); these amounts are then reclassified to earnings when the hedged item affects earnings. Using December 31, 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 December 31, 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 $643 million and $47 million as of December 31, 2023 and 2022, respectively. These credit derivatives are reported at fair value as an asset of $8 million and $0 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023 the notional amount of these credit derivatives had $542 million in NAIC 3 and $101 million in NAIC 6. The Company has no exposure on purchased credit protection as of December 31, 2023 and 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 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.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 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. The Company’s Level 1 assets and liabilities primarily include certain cash equivalents and short-term investments, equity securities, derivative contracts that trade on an active exchange market, separate account assets and other 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 prices in active markets for similar assets and liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, and other market observable inputs. The Company’s Level 2 assets and liabilities include: fixed maturities (corporate public and private bonds, most government securities, certain asset-backed and mortgage-backed securities, etc.), certain equity securities (mutual funds, which do not trade in active markets because they are not publicly available), certain cash equivalents (primarily commercial paper), short-term investments and certain OTC derivatives and embedded derivatives resulting from reinsurance. 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. The Company’s Level 3 assets and liabilities primarily include: certain private fixed maturities and equity securities, certain manually priced public equity securities and fixed maturities, certain highly structured OTC derivative contracts, contracts or contract features pertaining to living benefit features (market risk benefits) of the Company's variable annuity contracts and embedded derivatives associated with the index-linked features of certain universal life and annuity products. 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. December 31, 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 $ 975,287 $ 0 $ $ 975,287 Obligations of U.S. states and their political subdivisions 0 776,627 0 776,627 Foreign government bonds 0 281,304 682 281,986 U.S. corporate public securities 0 9,495,912 0 9,495,912 U.S. corporate private securities 0 4,476,258 513,236 4,989,494 Foreign corporate public securities 0 1,698,965 7,129 1,706,094 Foreign corporate private securities 0 4,137,004 493,978 4,630,982 Asset-backed securities(2) 0 1,928,428 99,122 2,027,550 Commercial mortgage-backed securities 0 773,663 78,115 851,778 Residential mortgage-backed securities 0 396,070 0 396,070 Subtotal 0 24,939,518 1,192,262 26,131,780 Market risk benefit assets 0 0 2,367,243 2,367,243 Fixed maturities, trading 0 2,762,398 34,048 2,796,446 Equity securities(3) 790,346 11,285 28,709 830,340 Short-term investments 31,879 280,228 1,759 313,866 Cash equivalents 447,396 1,196,729 0 1,644,125 Other invested assets(4) 23,432 9,022,304 1 (9,028,019) 17,718 Other assets 0 0 224,019 224,019 Reinsurance recoverables 0 0 69,745 69,745 Receivables from parent and affiliates 0 147,984 0 147,984 Subtotal excluding separate account assets 1,293,053 38,360,446 3,917,786 (9,028,019) 34,543,266 Separate account assets(5)(6) 176,239 113,747,569 5,985 113,929,793 Total assets $ 1,469,292 $ 152,108,015 $ 3,923,771 $ (9,028,019) $ 148,473,059 Market risk benefit liabilities $ 0 $ 0 $ 5,144,401 $ $ 5,144,401 Policyholders' account balances 0 0 7,689,929 7,689,929 Payables to parent and affiliates 0 21,239,770 0 (18,588,647) 2,651,123 Other liabilities(7) 8,032 6,340 0 (8,032) 6,340 Total liabilities $ 8,032 $ 21,246,110 $ 12,834,330 $ (18,596,679) $ 15,491,793 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(8) 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(4) 4,223 7,680,827 0 (7,637,939) 47,111 Other assets 0 0 141,041 141,041 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(5)(6) 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(8) $ 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(7) 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 $(9,569) million and $(8,931) million as of December 31, 2023 and 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) Equity securities excluded from the fair value hierarchy include a fund for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. As of December 31, 2023, the fair value of this investment was $14.6 million. (4) 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 NAV per share (or its equivalent) as a practical expedient. At December 31, 2023 and 2022, the fair values of such investments were $67 million and $69 million, respectively. (5) 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 Consolidated Statements of Financial Position. (6) 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 December 31, 2023 and 2022, the fair value of such investments was $5,259 million and $5,262 million, respectively. (7) Other liabilities includes embedded derivatives associated with reinsurance agreements. (8) Amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below. Fixed Maturity Securities - The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services. Prices for each security are generally sourced from multiple pricing vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. The Company ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. The pricing hierarchy is updated for new financial products and recent pricing experience with various vendors. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Typical inputs used by these pricing services include but are not limited to, reported trades, benchmark yields, issuer spreads, bids, offers, and/or estimated cash flow, prepayment speeds, and default rates. If the pricing information received from third-party pricing services is deemed not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service or classify the securities as Level 3. If the pricing service updates the price to be more consistent with the presented market observations, the security remains within Level 2. Internally-developed valuations or indicative broker quotes are also used to determine fair value in circumstances where vendor pricing is not available, or where the Company ultimately concludes that pricing information received from the independent pricing services is not reflective of market activity. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information with an internally-developed valuation. As of December 31, 2023 and 2022, overrides on a net basis were not material. Pricing service overrides, internally-developed valuations and indicative broker quotes are generally included in Level 3 in the fair value hierarchy. The Company conducts several specific price monitoring activities. Daily analyses identify price changes over predetermined thresholds defined at the financial instrument level. Various pricing integrity reports are reviewed on a daily and monthly basis to determine if pricing is reflective of market activity or if it would warrant any adjustments. Other procedures performed include, but are not limited to, reviews of third-party pricing services methodologies, reviews of pricing trends and back testing. The fair values of private fixed maturities, which are originated by internal private asset managers, are primarily determined using discounted cash flow models. These models primarily use observable inputs that include Treasury or similar base rates plus estimated credit spreads to value each security. The credit spreads are obtained through a survey of private market intermediaries who are active in both primary and secondary transactions, and consider, among other factors, the credit quality and the reduced liquidity associated with private placements. Internal adjustments are made to reflect variation in observed sector spreads. Since most private placements are valued using standard market observable inputs and inputs derived from, or corroborated by, market observable data including, but not limited to observed prices and spreads for similar publicly or privately traded issues, they have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model may incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs that market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the price of a security, a Level 3 classification is made. Equity Securities - Equity securities consist principally of investments in common and preferred stock of publicly traded companies, privately traded securities, as well as mutual fund shares. The fair values of most publicly traded equity securities are based on quoted market prices in active markets for identical assets and are classified within Level 1 in the fair value hierarchy. Estimated fair values for most privately traded equity securities are determined using discounted cash flow, earnings multiple and other valuation models that require a substantial level of judgment around inputs and therefore are classified within Level 3. The fair values of mutual fund shares that transact regularly (but do not trade in active markets because they are not publicly available) are based on transaction prices of identical fund shares and are classified within Level 2 in the fair value hierarchy. Derivative Instruments - Derivatives are recorded at fair value either as assets, within “Other invested assets”, or as liabilities within “Payables to parent and affiliates” or "Other liabilities", except for embedded derivatives which are recorded with the associated host contract. The fair values of derivative contracts can be affected by changes in interest rates, foreign exchange rates, credit spreads, market volatility, expected returns, NPR, liquidity and other factors. The Company's exchange-traded futures and options include treasury and equity futures. Exchange-traded futures and options are valued using quoted prices in active markets and are classified within Level 1 in the fair value hierarchy. The majority of the Company’s derivative positions are traded in the OTC derivative market and are classified within Level 2 in the fair value hierarchy. OTC derivatives classified within Level 2 are valued using models that utilize actively quoted or observable market inputs from external market data providers, third-party pricing vendors and/or recent trading activity. The Company’s policy is to use mid-market pricing in determining its best estimate of fair value. The fair values of most OTC derivatives, including interest rate and cross-currency swaps, currency forward contracts and credit default swaps are determined using discounted cash flow models. The fair values of European style option contracts are determined using Black-Scholes option pricing models. These models’ key inputs include the contractual terms of the respective contract, along with significant observable inputs, including interest rates, currency rates, credit spreads, equity prices, index dividend yields, NPR, volatility and other factors. The Company’s cleared interest rate swaps and credit derivatives linked to an index are valued using models that utilize actively quoted or observable market inputs, including SOFR, obtained from external market data providers, third-party pricing vendors and/or recent trading activity. These derivatives are classified as Level 2 in the fair value hierarchy. Cash Equivalents and Short-Term Investments - Cash equivalents and short-term investments include money market instruments, commercial paper and other highly liquid debt instruments. Certain money market instruments are valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. The remaining instruments in this category are generally fair valued based on market observable inputs and these investments have primarily been classified within Level 2. Separate Account Assets - Separate account assets include fixed maturity securities, treasuries, equity securities, real estate, mutual funds and commercial mortgage loans for which values are determined consistent with similar instruments described above under “Fixed Maturity Securities” and “Equity Securities”. Receivables from Parent and Affiliates - Receivables from parent and affiliates carried at fair value include affiliated bonds within the Company’s legal entity where fair value is determined consistent with similar securities described above under “Fixed Maturity Securities” managed by affiliated asset managers. Other Assets - Consists primarily of deposit assets related to reinsurance agreements using deposit accounting under U.S. GAAP, which include amounts representing the fair value of embedded derivative instruments associated with the index-linked features of certain annuity products. The methods and assumptions used to estimate the fair value are consistent with those described below in “Policyholders' account balances”. Reinsurance Recoverables - Reinsurance recoverables primarily includes an embedded derivative associated with receivables from modified coinsurance arrangements. Market Risk Benefits - 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 expose the insurance entity 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 benefits. 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. Policyholders' Account Balances - The liability for policyholders’ account balances is related to certain embedded derivative instruments associated with certain universal life and annuity products that provide policyholders with index-linked interest credited over contract specified term periods. The fair values of these liabilities are determined using discounted cash flow models which include capital market assumptions such as interest rates and equity index volatility assumptions, the Company’s market-perceived NPR and actuarially determined assumptions for mortality, lapses and projected hedge costs. As there is no observable active market for these liabilities, the fair value is determined as the present value of account balances paid to policyholders in excess of contractually guaranteed minimums using option pricing techniques for index term periods that contain deposits as of the valuation date, and the expected option cost for future index term periods, where the terms of index crediting rates have not yet been declared by the Company. Premiums for risks inherent in valuation techniques, inputs, and the general uncertainty around the timing and amount of future cash flows are also incorporated in the fair value of these liabilities. Since the valuation of these liabilities require the use of management’s judgment to determine these risk premiums and the use of unobservable inputs, these liabilities are reflected within Level 3 in the fair value hierarchy. Capital market inputs, including interest rates and equity market volatility, and actual policyholders’ account values are updated each quarter. Actuarial assumptions are reviewed at least annually and updated based upon emerging experience, future expectations and other data, including any observable market data. Aside from these annual updates, assumptions are generally updated only if a material change is observed in an interim period that the Company believes is indicative of a long-term trend. Other Liabilities - Other liabilities primarily includes an embedded derivative associated with certain funds withheld reinsurance arrangements that are described in Note 11. The fair value of the liability is determined based on the valuation of the underlying funds withheld assets identified to support the payable due to the applicable reinsurance counterpartie s. 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. December 31, 2023 Fair Value Valuation Unobservable Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 81,635 Discounted cash flow Discount rate 6.98 % 20 % 9.73 % Decrease Liquidation Liquidation value 63.62 % 63.62 % 63.62 % Increase Commercial mortgage-backed securities $ 78,115 Discounted cash flow Liquidity premium 0.60 % 0.75 % 0.71 % Decrease Market risk benefit assets(4) $ 2,367,243 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.41 % 1.91 % 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 Other assets $ 224,019 Discounted cash flow Lapse rate(5) 1 % 80 % Increase Spread over SOFR(6) 0.41 % 1.85 % Increase Mortality rate(9) 0 % 23 % Increase Equity volatility curve 6 % 25 % Decrease Option Budget(11) (1) % 7 % Decrease Liabilities: Market risk benefit liabilities(4) $ 5,144,401 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.41 % 1.91 % 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) $ 7,689,929 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.41 % 1.85 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 25 % Increase Option Budget(11) (1) % 7 % 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 accumulation, 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 balances. (6) The spread over the SOFR swap curve and the 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 December 31, 2023 and 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 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, now known as AuguStar Life Insurance Company ("AuguStar"), 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 AuguStar, which may differ from that of the Company's; however, the NPR spreads for AuguStar 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 December 31, 2023 and 2022, the minimum withdrawal rate assumption is 81% and 77%, respectively. As of December 31, 2023 and 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 budget determines future costs of the options, which impacts the growth in a

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements	12 Months Ended
	Dec. 31, 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 table shows a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, January 1, 2021 $ 0 $ 0 $ 462,099 $ 2,030,983 $ 2,493,082 Capitalization 576 32,590 168,760 653,864 855,790 Amortization expense (1,008) (146,952) (53,775) (123,860) (325,595) Other(1) 84,913 3,921,094 0 24 4,006,031 Balance, December 31, 2021 84,481 3,806,732 577,084 2,561,011 7,029,308 Capitalization 31,494 270,864 127,541 532,678 962,577 Amortization expense (13,724) (341,142) (55,423) (109,987) (520,276) Other(2) 0 0 (365) (540,819) (541,184) Balance, December 31, 2022 102,251 3,736,454 648,837 2,442,883 6,930,425 Capitalization 117,851 241,136 159,000 576,920 1,094,907 Amortization expense (22,165) (326,444) (63,949) (121,877) (534,435) Other(3) 0 (393,385) 0 (1) (393,386) Balance, December 31, 2023 $ 197,937 $ 3,257,761 $ 743,888 $ 2,897,925 $ 7,097,511 (1) Includes the impact of the 2021 Variable Annuities Recapture as well as the assuming of DAC upon Affiliated reinsurance agreement with FLIAC within Fixed Annuities. See Note 1 and Note 11 for additional information. (2) Includes the impact of the reinsurance agreement with Lotus Re. See Note 11 for additional information. (3) Includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information. Deferred Reinsurance Losses The following table shows a rollforward for the lines of business that contain DRL balances, along with a reconciliation to the Company's total DRL balance: Variable Annuities Term Life Total (in thousands) Balance, January 1, 2021 $ 274,415 $ 87,932 $ 362,347 Amortization expense (14,847) (9,506) (24,353) Other (4,991) 0 (4,991) Balance, December 31, 2021 254,577 78,426 333,003 Amortization expense (31,057) (9,048) (40,105) Other (5) 0 (5) Balance, December 31, 2022 223,515 69,378 292,893 Amortization expense (29,403) (8,374) (37,777) Other (1) 0 (1) Balance, December 31, 2023 $ 194,111 $ 61,004 $ 255,115 Deferred Reinsurance Gains The following table shows a rollforward for the lines of business that contain DRG balances, along with a reconciliation to the Company's total DRG balance: Fixed Annuities Variable Annuities Variable / Universal Life Total (in thousands) Balance, January 1, 2021 $ 0 $ 0 $ 174,259 $ 174,259 Amortization (657) 0 (7,365) (8,022) Other(1) 78,795 0 7,704 86,499 Balance, December 31, 2021 78,138 0 174,598 252,736 Amortization (6,437) 0 (79,952) (86,389) Other(2) (13,803) 0 1,340,312 1,326,509 Balance, December 31, 2022 57,898 0 1,434,958 1,492,856 Amortization (9,790) (15,612) (71,462) (96,864) Other(3) (34) 277,333 0 277,299 Balance, December 31, 2023 $ 48,074 $ 261,721 $ 1,363,496 $ 1,673,291 (1) Includes the impact of the 2021 Variable Annuities Recapture. (2) Includes $1,352 million deferred gain related to the reinsurance agreement with Lotus Re, entered into January 1, 2022. (3) Includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information. 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: Variable Annuities (in thousands) Balance, January 1, 2021 $ 0 Capitalization 167 Amortization expense (17,885) Other(1) 432,337 Balance, December 31, 2021 414,619 Capitalization 676 Amortization expense (33,791) Balance, December 31, 2022 381,504 Capitalization 1,514 Amortization expense (31,625) Other 31 Balance, December 31, 2023 $ 351,424 (1) Includes the impact of the 2021 Variable Annuities Recapture.

Separate Accounts

Separate Accounts	12 Months Ended
	Dec. 31, 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: December 31, 2023 December 31, 2022 (in thousands) Asset Type: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 2,954 $ 2,510 U.S. corporate securities 9,504 8,702 Foreign corporate securities 1,763 1,420 Mortgage-backed securities 186 276 Mutual funds: Equity 72,614,821 67,144,660 Fixed Income 37,065,162 38,109,374 Other 4,101,661 3,441,016 Equity securities 104,159 49,260 Other invested assets 5,258,900 5,262,178 Short-term investments 2,126 1,237 Cash and cash equivalents 27,249 30,613 Total $ 119,188,485 $ 114,051,246 For the periods ended December 31, 2023, 2022 and 2021, 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: Year Ended December 31, 2023 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 91,785,447 $ 22,265,799 $ 114,051,246 Deposits 440,707 2,745,751 3,186,458 Investment performance 12,219,777 4,310,729 16,530,506 Policy charges (2,296,859) (829,539) (3,126,398) Surrenders and withdrawals (9,687,372) (347,955) (10,035,327) Benefit payments (73,791) (226,242) (300,033) Net transfers (to) from general account(1) (15,121) (1,175,575) (1,190,696) Other 10,333 62,396 72,729 Balance, end of period $ 92,383,121 $ 26,805,364 $ 119,188,485 Cash surrender value(2) $ 91,201,190 $ 23,700,726 $ 114,901,916 Year Ended December 31, 2022 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Deposits 658,695 2,275,000 2,933,695 Investment performance (21,600,783) (4,270,091) (25,870,874) Policy charges (2,513,831) (767,168) (3,280,999) Surrenders and withdrawals (8,481,231) (339,931) (8,821,162) Benefit payments (62,586) (278,140) (340,726) Net transfers (to) from general account (206,269) (213,752) (420,021) Other 13,828 39,677 53,505 Balance, end of period $ 91,785,447 $ 22,265,799 $ 114,051,246 Cash surrender value(2) $ 90,208,083 $ 19,575,562 $ 109,783,645 Year Ended December 31, 2021 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 124,275,626 $ 21,464,796 $ 145,740,422 Deposits 669,497 2,397,739 3,067,236 Investment performance 13,179,092 3,482,547 16,661,639 Policy charges (2,937,255) (703,264) (3,640,519) Surrenders and withdrawals (11,147,772) (403,558) (11,551,330) Benefit payments (74,953) (289,298) (364,251) Net transfers (to) from general account 3,449 (164,405) (160,956) Other 9,940 35,647 45,587 Balance, end of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Cash surrender value(2) $ 121,847,584 $ 23,174,409 $ 145,021,993 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 15 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	12 Months Ended
	Dec. 31, 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. In 2021, the actuarial assumption update for direct and assumed benefit reserves and additional insurance reserves was immaterial. 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. Year Ended December 31, 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 (200,513) (989) (201,502) Adjusted balance, beginning of period 11,265,387 (989) 11,264,398 Issuances 712,495 36,646 749,141 Net premiums / considerations collected (1,345,514) (35,657) (1,381,171) Interest accrual 521,176 0 521,176 Balance at original discount rate, end of period 11,153,544 0 11,153,544 Effect of cumulative changes in discount rate assumptions, end of period (225,711) 0 (225,711) Balance, end of period $ 10,927,833 $ 0 $ 10,927,833 Year Ended December 31, 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 962,035 24,876 986,911 Balance at original discount rate, beginning of period 18,797,286 229,603 19,026,889 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (263,243) 6,991 (256,252) Adjusted balance, beginning of period 18,532,999 236,594 18,769,593 Issuances 712,495 36,646 749,141 Interest accrual 895,023 8,440 903,463 Benefit payments (1,386,583) (33,287) (1,419,870) Other adjustments 3,844 (84) 3,760 Balance at original discount rate, end of period 18,757,778 248,309 19,006,087 Effect of cumulative changes in discount rate assumptions, end of period (331,571) (19,521) (351,092) Balance, end of period $ 18,426,207 $ 228,788 $ 18,654,995 Other, end of period 1,765 Total balance, end of period $ 18,656,760 Year Ended December 31, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 7,498,374 $ 228,788 $ 7,727,162 Flooring impact, end of period 44 0 44 Balance, end of period, post-flooring 7,498,418 228,788 7,727,206 Less: Reinsurance recoverable 6,817,488 18,489 6,835,977 Balance after reinsurance recoverable, end of period, post-flooring $ 680,930 $ 210,299 $ 891,229 Year Ended December 31, 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 (112,661) (1,143) (113,804) Adjusted balance, beginning of period 11,841,569 (1,143) 11,840,426 Issuances 439,874 30,469 470,343 Net premiums / considerations collected (1,339,902) (29,326) (1,369,228) Interest accrual 525,149 0 525,149 Balance at original discount rate, end of period 11,466,690 0 11,466,690 Effect of cumulative changes in discount rate assumptions, end of period (554,896) 0 (554,896) Balance, end of period $ 10,911,794 $ 0 $ 10,911,794 Year Ended December 31, 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 (206,175) (1,639) (207,814) Adjusted balance, beginning of period 18,880,642 218,722 19,099,364 Issuances 439,874 30,469 470,343 Interest accrual 888,525 7,836 896,361 Benefit payments (1,416,823) (27,138) (1,443,961) Other adjustments 5,068 (286) 4,782 Balance at original discount rate, end of period 18,797,286 229,603 19,026,889 Effect of cumulative changes in discount rate assumptions, end of period (962,035) (24,876) (986,911) Balance, end of period $ 17,835,251 $ 204,727 $ 18,039,978 Other, end of period 2,127 Total balance, end of period $ 18,042,105 Year Ended December 31, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 6,923,457 $ 204,727 $ 7,128,184 Flooring impact, end of period 0 0 0 Balance, end of period, post-flooring 6,923,457 204,727 7,128,184 Less: Reinsurance recoverable 6,497,257 16,460 6,513,717 Balance after reinsurance recoverable, end of period, post-flooring $ 426,200 $ 188,267 $ 614,467 Year Ended December 31, 2021 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,791,701 $ 0 $ 12,791,701 Effect of cumulative changes in discount rate assumptions, beginning of period (2,461,823) 0 (2,461,823) Balance at original discount rate, beginning of period 10,329,878 0 10,329,878 Effect of assumption update 39,089 0 39,089 Effect of actual variances from expected experience and other activity 246,712 0 246,712 Adjusted balance, beginning of period 10,615,679 0 10,615,679 Issuances 747,703 29,700 777,403 Net premiums / considerations collected (1,193,642) (29,700) (1,223,342) Interest accrual 489,196 0 489,196 Balance at original discount rate, end of period 10,658,936 0 10,658,936 Effect of cumulative changes in discount rate assumptions, end of period 1,826,120 0 1,826,120 Balance, end of period $ 12,485,056 $ 0 $ 12,485,056 Year Ended December 31, 2021 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 21,897,943 $ 237,094 $ 22,135,037 Effect of cumulative changes in discount rate assumptions, beginning of period (4,893,834) (27,090) (4,920,924) Balance at original discount rate, beginning of period 17,004,109 210,004 17,214,113 Effect of assumption update 40,236 0 40,236 Effect of actual variances from expected experience and other activity 268,005 (1,422) 266,583 Adjusted balance, beginning of period 17,312,350 208,582 17,520,932 Issuances 747,703 29,700 777,403 Interest accrual 832,663 7,454 840,117 Benefit payments (1,566,091) (25,328) (1,591,419) Other adjustments 3,197 (47) 3,150 Balance at original discount rate, end of period 17,329,822 220,361 17,550,183 Effect of cumulative changes in discount rate assumptions, end of period 3,607,275 16,704 3,623,979 Balance, end of period $ 20,937,097 $ 237,065 $ 21,174,162 Other, end of period 2,902 Total balance, end of period $ 21,177,064 Year Ended December 31, 2021 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 8,452,041 $ 237,065 $ 8,689,106 Flooring impact, end of period 951 0 951 Balance, end of period, post-flooring 8,452,992 237,065 8,690,057 Less: Reinsurance recoverable 7,855,802 19,314 7,875,116 Balance after reinsurance recoverable, end of period, post-flooring $ 597,190 $ 217,751 $ 814,941 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: Year Ended December 31, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,871,767 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,027,611 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,748,999 $ 0 Undiscounted expected future benefits and expenses $ 29,118,532 $ 332,902 Interest accrual $ 373,845 $ 8,440 Gross premiums $ 1,804,955 $ 41,111 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) 5.17 % 3.70 % Weighted-average interest rate (at current discount rate) 4.99 % 4.95 % Year Ended December 31, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,223,836 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,322,180 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,587,657 $ 0 Undiscounted expected future benefits and expenses $ 29,330,574 $ 306,286 Interest accrual $ 363,375 $ 7,836 Gross premiums $ 1,831,360 $ 32,105 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) 5.23 % 3.60 % Weighted-average interest rate (at current discount rate) 5.39 % 5.33 % Year Ended December 31, 2021 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 24,005,621 $ 0 Discounted expected future gross premiums (at original discount rate) $ 16,246,950 $ 0 Discounted expected future gross premiums (at current discount rate) $ 19,102,730 $ 0 Undiscounted expected future benefits and expenses $ 27,127,403 $ 293,095 Interest accrual $ 343,467 $ 7,454 Gross premiums $ 1,822,261 $ 35,672 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) 11 7 Weighted-average interest rate (at original discount rate) 5.30 % 3.47 % Weighted-average interest rate (at current discount rate) 2.55 % 2.49 % 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 2023, there was a $31 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 2022, there was an $83 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 an $82 million gain, reflecting the impact of ceded reinsurance on the affected cohorts. In 2021, there was an immaterial impact to net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts. The balances of and changes in Deferred Profit Liability for the years ended December 31, are as follows: 2023 2022 2021 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 $ 9,959 Effect of actual variances from expected experience and other activity (6,978) 1,250 1,247 Adjusted balance, beginning of period 11,215 17,015 11,206 Profits deferred 5,191 2,511 5,823 Interest accrual 552 616 529 Amortization (2,129) (1,909) (1,793) Other adjustments (11) (40) 0 Balance, end of period 14,818 18,193 15,765 Less: Reinsurance recoverable 1,365 1,684 1,726 Balance after reinsurance recoverable $ 13,453 $ 16,509 $ 14,039 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, for the years ended December 31,: 2023 2022 2021 Fixed Annuities (in thousands) Revenue(1) $ 3,375 $ (2,428) $ (5,805) Interest accrual 552 616 529 (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 years ended December 31,: 2023 2022 2021 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 $ 10,878,087 Flooring impact and amounts in AOCI 1,269,236 (896,931) (1,169,972) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,681 10,763,596 9,708,115 Effect of assumption update 22,910 2,197,592 (1,243) Effect of actual variances from expected experience and other activity 34,021 (223,185) 53,125 Adjusted balance, beginning of period 13,990,612 12,738,003 9,759,997 Assessments collected(1) 929,709 961,924 848,263 Interest accrual 486,253 433,631 344,789 Benefits paid (294,199) (199,877) (189,453) Balance, excluding amounts in AOCI, end of period, pre-flooring 15,112,375 13,933,681 10,763,596 Flooring impact and amounts in AOCI (831,583) (1,269,236) 896,931 Balance, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Less: Reinsurance recoverable 14,054,600 12,458,184 11,419,340 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 226,192 $ 206,261 $ 241,187 (1) Represents the portion of gross assessments required to fund the future policy benefits. 2023 2022 2021 ($ in thousands) Interest accrual $ 486,253 $ 433,631 $ 344,789 Gross assessments $ 1,405,696 $ 1,367,796 $ 1,674,305 Weighted-average duration of the liability in years (at original discount rate) 22 23 22 Weighted-average interest rate (at original discount rate) 3.39 % 3.37 % 3.37 % Future Policy Benefits Reconciliation The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Deferred Profit Liability and Additional Insurance Reserves including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Consolidated Statements of Financial Position for the years ended December 31,: 2023 2022 2021 (in thousands) Benefit reserves, end of period, post-flooring $ 7,727,206 $ 7,128,184 $ 8,690,057 Deferred profit liability, end of period, post-flooring 14,818 18,193 15,765 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Subtotal of amounts disclosed above 22,022,816 19,810,822 20,366,349 Other Future policy benefits reserves(1) 1,182,389 1,018,211 1,144,400 Total Future policy benefits $ 23,205,205 $ 20,829,033 $ 21,510,749 (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, Deferred Profit Liability and Additional Insurance Reserves, 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: Year Ended December 31, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,804,955 $ 0 $ 41,111 $ 1,846,066 Deferred profit liability 0 0 3,375 3,375 Additional insurance reserves 0 1,405,696 0 1,405,696 Total $ 1,804,955 $ 1,405,696 $ 44,486 $ 3,255,137 Year Ended December 31, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,831,360 $ 0 $ 32,105 $ 1,863,465 Deferred profit liability 0 0 (2,428) (2,428) Additional insurance reserves 0 1,367,796 0 1,367,796 Total $ 1,831,360 $ 1,367,796 $ 29,677 $ 3,228,833 Year Ended December 31, 2021 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,822,261 $ 0 $ 35,672 $ 1,857,933 Deferred profit liability 0 0 (5,805) (5,805) Additional insurance reserves 0 1,674,305 0 1,674,305 Total $ 1,822,261 $ 1,674,305 $ 29,867 $ 3,526,433 (1) Represents "Gross premiums" for benefit reserves; "Gross assessments" for additional insurance reserves; and "Revenue" for deferred profit liability. Year Ended December 31, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 373,845 $ 0 $ 8,440 $ 382,285 Deferred profit liability 0 0 552 552 Additional insurance reserves 0 486,253 0 486,253 Total $ 373,845 $ 486,253 $ 8,992 $ 869,090 Year Ended December 31, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 363,375 $ 0 $ 7,836 $ 371,211 Deferred profit liability 0 0 616 616 Additional insurance reserves 0 433,631 0 433,631 Total $ 363,375 $ 433,631 $ 8,452 $ 805,458 Year Ended December 31, 2021 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 343,467 $ 0 $ 7,454 $ 350,921 Deferred profit liability 0 0 529 529 Additional insurance reserves 0 344,789 0 344,789 Total $ 343,467 $ 344,789 $ 7,983 $ 696,239 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: Year Ended December 31, 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 1,158,879 (246,747) 912,132 Claims paid (85,898) 9,952 (75,946) Interest accrual 293,205 (53,016) 240,189 Actual in force different from expected 79,030 (13,338) 65,692 Effect of changes in interest rates (1,438,873) 455,062 (983,811) Effect of changes in equity markets (1,845,207) 180,953 (1,664,254) Effect of assumption update 330,769 (54,067) 276,702 Issuances 29,433 7,680 37,113 Other adjustments(1) (36,888) (635,011) (671,899) Effect of changes in current period counterparty non-performance risk 0 (146,999) (146,999) Balance, end of period, before effect of changes in non-performance risk 4,762,985 (917,792) 3,845,193 Effect of cumulative changes in non-performance risk (1,068,035) 0 (1,068,035) Balance, end of period $ 3,694,950 $ (917,792) $ 2,777,158 Year Ended December 31, 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 1,249,956 (147,727) 1,102,229 Claims paid (64,406) 3,456 (60,950) Interest accrual 143,483 (13,438) 130,045 Actual in force different from expected 105,996 (9,968) 96,028 Effect of changes in interest rates (7,271,427) 767,394 (6,504,033) Effect of changes in equity markets 3,103,563 (326,575) 2,776,988 Effect of assumption update (160,597) 23,171 (137,426) Effect of changes in current period counterparty non-performance risk 0 187,910 187,910 Balance, end of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Effect of cumulative changes in non-performance risk (1,727,910) 0 (1,727,910) Balance, end of period $ 4,550,625 $ (422,261) $ 4,128,364 Year Ended December 31, 2021 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 13,577,543 $ (13,589,575) $ (12,032) Effect of cumulative changes in non-performance risk 722,837 0 722,837 Balance, beginning of period, before effect of changes in non-performance risk 14,300,380 (13,589,575) 710,805 Attributed fees collected 1,368,434 (759,997) 608,437 Claims paid (29,401) 14,648 (14,753) Interest accrual 24,824 (16,593) 8,231 Actual in force different from expected (19,290) 22,687 3,397 Effect of changes in interest rates (3,461,436) 3,240,588 (220,848) Effect of changes in equity markets (2,789,777) 2,070,833 (718,944) Effect of assumption update (221,767) 221,767 0 Other adjustments(1) 0 8,223,470 8,223,470 Effect of changes in current period counterparty non-performance risk 0 (334,312) (334,312) Balance, end of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Effect of cumulative changes in non-performance risk (287,605) 0 (287,605) Balance, end of period $ 8,884,362 $ (906,484) $ 7,977,878 (1) Other adjustments for December 31, 2023 primarily includes $638 million related to the reinsurance transaction with AuguStar. See Note 11 for additional information. Other adjustments for December 31, 2021 includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. In 2023, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed MRBs, 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 MRBs, primarily due to updates to mortality and policyholder behavior assumptions on certain variable annuities. In 2021, the Company recognized a favorable impact to net income attributable to the actuarial assumption update for direct and assumed MRBs, primarily due to updates to long-term asset mix assumptions supporting claims 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. December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities ($ in thousands) Net amount at risk(1) $ 9,041,651 $ 12,141,947 $ 2,566,157 Weighted-average attained age of contractholders 70 68 66 (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: December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities (in thousands) Market risk benefit assets $ 2,367,243 $ 1,393,237 $ 1,786,565 Market risk benefit liabilities 5,144,401 5,521,601 9,764,443 Net liability $ 2,777,158 $ 4,128,364 $ 7,977,878

Policyholders' Liabilities

Policyholders' Liabilities	12 Months Ended
	Dec. 31, 2023
Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Abstract]
Policyholders' Liabilities	POLICYHOLDERS' ACCOUNT BALANCES The balances of and changes in policyholders' account balances as of and for the periods ended are as follows: Year Ended December 31, 2023 Fixed Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 3,575,823 $ 16,432,032 $ 18,736,365 $ 38,744,220 Deposits 2,612,775 4,633,727 2,117,153 9,363,655 Interest credited 101,192 277,708 556,057 934,957 Policy charges (8,438) (23,368) (1,810,644) (1,842,450) Surrenders and withdrawals (229,843) (516,039) (845,436) (1,591,318) Benefit payments (50,522) (30,461) (83,409) (164,392) Net transfers (to) from separate account(1) 0 15,121 1,175,575 1,190,696 Change in market value and other adjustments(2) 163,326 2,048,045 322,052 2,533,423 Balance, end of period 6,164,313 22,836,765 20,167,713 49,168,791 Less: Reinsurance recoverables(3) 4,746 569,844 12,830,700 13,405,290 Policyholders' account balance net of reinsurance recoverables $ 6,159,567 $ 22,266,921 $ 7,337,013 $ 35,763,501 Unearned revenue reserve 3,741,426 Other 102,583 Total Policyholders' account balance $ 53,012,800 Weighted-average crediting rate 2.08 % 1.40 % 2.86 % 2.12 % Net amount at risk(4) $ 15 $ 0 $ 323,508,432 $ 323,508,447 Cash surrender value(5) $ 5,307,537 $ 20,490,433 $ 18,676,852 $ 44,474,822 Year Ended December 31, 2022 Fixed Annuities(6) Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 3,005,867 $ 11,465,411 $ 18,762,548 $ 33,233,826 Deposits 754,397 4,761,547 2,173,035 7,688,979 Interest credited 53,884 175,574 583,814 813,272 Policy charges (5,118) (5,482) (1,795,879) (1,806,479) Surrenders and withdrawals (68,343) (282,497) (873,034) (1,223,874) Benefit payments (90,640) (35,042) (103,358) (229,040) Net transfers (to) from separate account 0 206,269 213,752 420,021 Change in market value and other adjustments(2) (74,224) 146,252 (224,513) (152,485) Balance, end of period 3,575,823 16,432,032 18,736,365 38,744,220 Less: Reinsurance recoverables(3) 5,724 323,981 12,896,517 13,226,222 Policyholders' account balance net of reinsurance recoverables $ 3,570,099 $ 16,108,051 $ 5,839,848 $ 25,517,998 Unearned revenue reserve 3,067,336 Other(6) 100,980 Total Policyholders' account balance $ 41,912,536 Weighted-average crediting rate 1.64 % 1.26 % 3.11 % 2.26 % Net amount at risk(4) $ 3 $ 0 $ 304,864,582 $ 304,864,585 Cash surrender value(5) $ 2,968,033 $ 13,844,151 $ 17,137,744 $ 33,949,928 Year Ended December 31, 2021 Fixed Annuities(6) Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 379,981 $ 3,634,125 $ 18,363,958 $ 22,378,064 Deposits 396,377 725,701 2,523,000 3,645,078 Interest credited 1,181 94,453 508,391 604,025 Policy charges (5,346) (1,941) (1,740,260) (1,747,547) Surrenders and withdrawals (41,886) (208,224) (990,423) (1,240,533) Benefit payments (87,897) (41,851) (132,586) (262,334) Net transfers (to) from separate account 0 (3,449) 164,405 160,956 Change in market value and other adjustments(2) 2,363,457 7,266,597 66,063 9,696,117 Balance, end of period 3,005,867 11,465,411 18,762,548 33,233,826 Less: Reinsurance recoverables(3) 7,066 340,527 11,706,343 12,053,936 Policyholders' account balance net of reinsurance recoverables $ 2,998,801 $ 11,124,884 $ 7,056,205 $ 21,179,890 Unearned revenue reserve 2,398,788 Other(6) 98,066 Total Policyholders' account balance $ 35,730,680 Weighted-average crediting rate 0.07 % 1.25 % 2.74 % 2.31 % Net amount at risk(4) $ 0 $ 0 $ 309,431,313 $ 309,431,313 Cash surrender value(5) $ 2,476,677 $ 11,250,816 $ 16,915,935 $ 30,643,428 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 15 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. Includes $7,203 million related to assuming of policyholders' account balances with PALAC for the year ended December 31, 2021. See Note 1 for additional information. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (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. (6) Prior period amounts have been updated to conform to current period presentation. 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: December 31, 2023 Range of Guaranteed Minimum 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) Fixed Annuities Less than 1.00% $ 105 $ 337 $ 994 $ 117,377 $ 118,813 1.00% - 1.99% 487,191 73,393 234,487 79,713 874,784 2.00% - 2.99% 301,132 469,276 562,347 16,881 1,349,636 3.00% - 4.00% 29,131 0 0 0 29,131 Greater than 4.00% 0 0 0 0 0 Total $ 817,559 $ 543,006 $ 797,828 $ 213,971 $ 2,372,364 Variable Annuities Less than 1.00% $ 908,097 $ 807,460 $ 18,083 $ 2 $ 1,733,642 1.00% - 1.99% 214,377 2,061 1,060 0 217,498 2.00% - 2.99% 23,323 4,071 4,135 0 31,529 3.00% - 4.00% 903,953 9,245 33 0 913,231 Greater than 4.00% 2,046 0 0 0 2,046 Total $ 2,051,796 $ 822,837 $ 23,311 $ 2 $ 2,897,946 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 196,692 $ 196,692 1.00% - 1.99% 201,121 0 2,588,458 528,155 3,317,734 2.00% - 2.99% 28,061 1,445,439 2,789,520 260,651 4,523,671 3.00% - 4.00% 3,956,631 2,217,133 1,107,726 0 7,281,490 Greater than 4.00% 2,136,137 0 0 0 2,136,137 Total $ 6,321,950 $ 3,662,572 $ 6,485,704 $ 985,498 $ 17,455,724 December 31, 2022 Range of Guaranteed Minimum 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) Fixed Annuities(2) Less than 1.00% $ 0 $ 0 $ 0 $ 0 $ 0 1.00% - 1.99% 521,189 73,554 248,881 83,415 927,039 2.00% - 2.99% 208,420 0 0 0 208,420 3.00% - 4.00% 38,195 0 0 0 38,195 Greater than 4.00% 0 0 0 0 0 Total $ 767,804 $ 73,554 $ 248,881 $ 83,415 $ 1,173,654 Variable Annuities Less than 1.00% $ 1,008,763 $ 861,119 $ 18,744 $ 2 $ 1,888,628 1.00% - 1.99% 243,223 2,257 1,294 0 246,774 2.00% - 2.99% 26,778 973 0 0 27,751 3.00% - 4.00% 1,070,958 2247 0 0 1,073,205 Greater than 4.00% 2,172 0 0 0 2,172 Total $ 2,351,894 $ 866,596 $ 20,038 $ 2 $ 3,238,530 Variable Life / Universal Life Less than 1.00% $ 11,902 $ 0 $ 0 $ 0 $ 11,902 1.00% - 1.99% 418,399 0 773,591 1,928,342 3,120,332 2.00% - 2.99% 32,651 121,200 2,413,571 1,824,303 4,391,725 3.00% - 4.00% 4,737,864 3,510 2,093,511 129,398 6,964,283 Greater than 4.00% 2,145,123 0 0 0 2,145,123 Total $ 7,345,939 $ 124,710 $ 5,280,673 $ 3,882,043 $ 16,633,365 December 31, 2021 Range of Guaranteed Minimum 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) Fixed Annuities(2) Less than 1.00% $ 0 $ 0 $ 0 $ 0 $ 0 1.00% - 1.99% 9,470 0 0 0 9,470 2.00% - 2.99% 213,321 0 0 0 213,321 3.00% - 4.00% 42,418 0 0 0 42,418 Greater than 4.00% 0 0 0 0 0 Total $ 265,209 $ 0 $ 0 $ 0 $ 265,209 Variable Annuities Less than 1.00% $ 1,070,567 $ 894,487 $ 19,207 $ 2 $ 1,984,263 1.00% - 1.99% 267,409 1,627 0 0 269,036 2.00% - 2.99% 30,738 62 0 0 30,800 3.00% - 4.00% 1,150,448 0 0 0 1,150,448 Greater than 4.00% 2,415 0 0 0 2,415 Total $ 2,521,577 $ 896,176 $ 19,207 $ 2 $ 3,436,962 Variable Life / Universal Life Less than 1.00% $ 18,091 $ 0 $ 0 $ 0 $ 18,091 1.00% - 1.99% 380,144 0 0 2,537,887 2,918,031 2.00% - 2.99% 10,227 0 3,735,376 552,995 4,298,598 3.00% - 4.00% 4,793,734 2,048,590 343,129 53,673 7,239,126 Greater than 4.00% 2,092,925 0 0 0 2,092,925 Total $ 7,295,121 $ 2,048,590 $ 4,078,505 $ 3,144,555 $ 16,566,771 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. (2) Prior period amounts have been updated to conform to current period presentation. Unearned Revenue Reserve The balances of and changes in URR as of and for the periods ended are as follows: Years Ended December 31, 2023 2022 2021 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 $ 1,745,269 Unearned revenue 827,960 799,185 760,153 Amortization expense (153,779) (129,525) (106,634) Other adjustments (91) (1,112) 0 Balance, end of period 3,741,426 3,067,336 2,398,788 Less: Reinsurance recoverables 1,690,255 1,542,900 939,798 Unearned revenue reserve net of reinsurance recoverables $ 2,051,171 $ 1,524,436 $ 1,458,990

Market Risk Benefits

Market Risk Benefits	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Market Risk 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. In 2021, the actuarial assumption update for direct and assumed benefit reserves and additional insurance reserves was immaterial. 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. Year Ended December 31, 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 (200,513) (989) (201,502) Adjusted balance, beginning of period 11,265,387 (989) 11,264,398 Issuances 712,495 36,646 749,141 Net premiums / considerations collected (1,345,514) (35,657) (1,381,171) Interest accrual 521,176 0 521,176 Balance at original discount rate, end of period 11,153,544 0 11,153,544 Effect of cumulative changes in discount rate assumptions, end of period (225,711) 0 (225,711) Balance, end of period $ 10,927,833 $ 0 $ 10,927,833 Year Ended December 31, 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 962,035 24,876 986,911 Balance at original discount rate, beginning of period 18,797,286 229,603 19,026,889 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (263,243) 6,991 (256,252) Adjusted balance, beginning of period 18,532,999 236,594 18,769,593 Issuances 712,495 36,646 749,141 Interest accrual 895,023 8,440 903,463 Benefit payments (1,386,583) (33,287) (1,419,870) Other adjustments 3,844 (84) 3,760 Balance at original discount rate, end of period 18,757,778 248,309 19,006,087 Effect of cumulative changes in discount rate assumptions, end of period (331,571) (19,521) (351,092) Balance, end of period $ 18,426,207 $ 228,788 $ 18,654,995 Other, end of period 1,765 Total balance, end of period $ 18,656,760 Year Ended December 31, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 7,498,374 $ 228,788 $ 7,727,162 Flooring impact, end of period 44 0 44 Balance, end of period, post-flooring 7,498,418 228,788 7,727,206 Less: Reinsurance recoverable 6,817,488 18,489 6,835,977 Balance after reinsurance recoverable, end of period, post-flooring $ 680,930 $ 210,299 $ 891,229 Year Ended December 31, 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 (112,661) (1,143) (113,804) Adjusted balance, beginning of period 11,841,569 (1,143) 11,840,426 Issuances 439,874 30,469 470,343 Net premiums / considerations collected (1,339,902) (29,326) (1,369,228) Interest accrual 525,149 0 525,149 Balance at original discount rate, end of period 11,466,690 0 11,466,690 Effect of cumulative changes in discount rate assumptions, end of period (554,896) 0 (554,896) Balance, end of period $ 10,911,794 $ 0 $ 10,911,794 Year Ended December 31, 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 (206,175) (1,639) (207,814) Adjusted balance, beginning of period 18,880,642 218,722 19,099,364 Issuances 439,874 30,469 470,343 Interest accrual 888,525 7,836 896,361 Benefit payments (1,416,823) (27,138) (1,443,961) Other adjustments 5,068 (286) 4,782 Balance at original discount rate, end of period 18,797,286 229,603 19,026,889 Effect of cumulative changes in discount rate assumptions, end of period (962,035) (24,876) (986,911) Balance, end of period $ 17,835,251 $ 204,727 $ 18,039,978 Other, end of period 2,127 Total balance, end of period $ 18,042,105 Year Ended December 31, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 6,923,457 $ 204,727 $ 7,128,184 Flooring impact, end of period 0 0 0 Balance, end of period, post-flooring 6,923,457 204,727 7,128,184 Less: Reinsurance recoverable 6,497,257 16,460 6,513,717 Balance after reinsurance recoverable, end of period, post-flooring $ 426,200 $ 188,267 $ 614,467 Year Ended December 31, 2021 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,791,701 $ 0 $ 12,791,701 Effect of cumulative changes in discount rate assumptions, beginning of period (2,461,823) 0 (2,461,823) Balance at original discount rate, beginning of period 10,329,878 0 10,329,878 Effect of assumption update 39,089 0 39,089 Effect of actual variances from expected experience and other activity 246,712 0 246,712 Adjusted balance, beginning of period 10,615,679 0 10,615,679 Issuances 747,703 29,700 777,403 Net premiums / considerations collected (1,193,642) (29,700) (1,223,342) Interest accrual 489,196 0 489,196 Balance at original discount rate, end of period 10,658,936 0 10,658,936 Effect of cumulative changes in discount rate assumptions, end of period 1,826,120 0 1,826,120 Balance, end of period $ 12,485,056 $ 0 $ 12,485,056 Year Ended December 31, 2021 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 21,897,943 $ 237,094 $ 22,135,037 Effect of cumulative changes in discount rate assumptions, beginning of period (4,893,834) (27,090) (4,920,924) Balance at original discount rate, beginning of period 17,004,109 210,004 17,214,113 Effect of assumption update 40,236 0 40,236 Effect of actual variances from expected experience and other activity 268,005 (1,422) 266,583 Adjusted balance, beginning of period 17,312,350 208,582 17,520,932 Issuances 747,703 29,700 777,403 Interest accrual 832,663 7,454 840,117 Benefit payments (1,566,091) (25,328) (1,591,419) Other adjustments 3,197 (47) 3,150 Balance at original discount rate, end of period 17,329,822 220,361 17,550,183 Effect of cumulative changes in discount rate assumptions, end of period 3,607,275 16,704 3,623,979 Balance, end of period $ 20,937,097 $ 237,065 $ 21,174,162 Other, end of period 2,902 Total balance, end of period $ 21,177,064 Year Ended December 31, 2021 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 8,452,041 $ 237,065 $ 8,689,106 Flooring impact, end of period 951 0 951 Balance, end of period, post-flooring 8,452,992 237,065 8,690,057 Less: Reinsurance recoverable 7,855,802 19,314 7,875,116 Balance after reinsurance recoverable, end of period, post-flooring $ 597,190 $ 217,751 $ 814,941 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: Year Ended December 31, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,871,767 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,027,611 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,748,999 $ 0 Undiscounted expected future benefits and expenses $ 29,118,532 $ 332,902 Interest accrual $ 373,845 $ 8,440 Gross premiums $ 1,804,955 $ 41,111 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) 5.17 % 3.70 % Weighted-average interest rate (at current discount rate) 4.99 % 4.95 % Year Ended December 31, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,223,836 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,322,180 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,587,657 $ 0 Undiscounted expected future benefits and expenses $ 29,330,574 $ 306,286 Interest accrual $ 363,375 $ 7,836 Gross premiums $ 1,831,360 $ 32,105 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) 5.23 % 3.60 % Weighted-average interest rate (at current discount rate) 5.39 % 5.33 % Year Ended December 31, 2021 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 24,005,621 $ 0 Discounted expected future gross premiums (at original discount rate) $ 16,246,950 $ 0 Discounted expected future gross premiums (at current discount rate) $ 19,102,730 $ 0 Undiscounted expected future benefits and expenses $ 27,127,403 $ 293,095 Interest accrual $ 343,467 $ 7,454 Gross premiums $ 1,822,261 $ 35,672 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) 11 7 Weighted-average interest rate (at original discount rate) 5.30 % 3.47 % Weighted-average interest rate (at current discount rate) 2.55 % 2.49 % 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 2023, there was a $31 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 2022, there was an $83 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 an $82 million gain, reflecting the impact of ceded reinsurance on the affected cohorts. In 2021, there was an immaterial impact to net income for non-participating traditional and limited-payment products, where net premiums exceeded gross premiums for certain issue-year cohorts. The balances of and changes in Deferred Profit Liability for the years ended December 31, are as follows: 2023 2022 2021 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 $ 9,959 Effect of actual variances from expected experience and other activity (6,978) 1,250 1,247 Adjusted balance, beginning of period 11,215 17,015 11,206 Profits deferred 5,191 2,511 5,823 Interest accrual 552 616 529 Amortization (2,129) (1,909) (1,793) Other adjustments (11) (40) 0 Balance, end of period 14,818 18,193 15,765 Less: Reinsurance recoverable 1,365 1,684 1,726 Balance after reinsurance recoverable $ 13,453 $ 16,509 $ 14,039 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, for the years ended December 31,: 2023 2022 2021 Fixed Annuities (in thousands) Revenue(1) $ 3,375 $ (2,428) $ (5,805) Interest accrual 552 616 529 (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 years ended December 31,: 2023 2022 2021 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 $ 10,878,087 Flooring impact and amounts in AOCI 1,269,236 (896,931) (1,169,972) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,681 10,763,596 9,708,115 Effect of assumption update 22,910 2,197,592 (1,243) Effect of actual variances from expected experience and other activity 34,021 (223,185) 53,125 Adjusted balance, beginning of period 13,990,612 12,738,003 9,759,997 Assessments collected(1) 929,709 961,924 848,263 Interest accrual 486,253 433,631 344,789 Benefits paid (294,199) (199,877) (189,453) Balance, excluding amounts in AOCI, end of period, pre-flooring 15,112,375 13,933,681 10,763,596 Flooring impact and amounts in AOCI (831,583) (1,269,236) 896,931 Balance, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Less: Reinsurance recoverable 14,054,600 12,458,184 11,419,340 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 226,192 $ 206,261 $ 241,187 (1) Represents the portion of gross assessments required to fund the future policy benefits. 2023 2022 2021 ($ in thousands) Interest accrual $ 486,253 $ 433,631 $ 344,789 Gross assessments $ 1,405,696 $ 1,367,796 $ 1,674,305 Weighted-average duration of the liability in years (at original discount rate) 22 23 22 Weighted-average interest rate (at original discount rate) 3.39 % 3.37 % 3.37 % Future Policy Benefits Reconciliation The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Deferred Profit Liability and Additional Insurance Reserves including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Consolidated Statements of Financial Position for the years ended December 31,: 2023 2022 2021 (in thousands) Benefit reserves, end of period, post-flooring $ 7,727,206 $ 7,128,184 $ 8,690,057 Deferred profit liability, end of period, post-flooring 14,818 18,193 15,765 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Subtotal of amounts disclosed above 22,022,816 19,810,822 20,366,349 Other Future policy benefits reserves(1) 1,182,389 1,018,211 1,144,400 Total Future policy benefits $ 23,205,205 $ 20,829,033 $ 21,510,749 (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, Deferred Profit Liability and Additional Insurance Reserves, 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: Year Ended December 31, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,804,955 $ 0 $ 41,111 $ 1,846,066 Deferred profit liability 0 0 3,375 3,375 Additional insurance reserves 0 1,405,696 0 1,405,696 Total $ 1,804,955 $ 1,405,696 $ 44,486 $ 3,255,137 Year Ended December 31, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,831,360 $ 0 $ 32,105 $ 1,863,465 Deferred profit liability 0 0 (2,428) (2,428) Additional insurance reserves 0 1,367,796 0 1,367,796 Total $ 1,831,360 $ 1,367,796 $ 29,677 $ 3,228,833 Year Ended December 31, 2021 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,822,261 $ 0 $ 35,672 $ 1,857,933 Deferred profit liability 0 0 (5,805) (5,805) Additional insurance reserves 0 1,674,305 0 1,674,305 Total $ 1,822,261 $ 1,674,305 $ 29,867 $ 3,526,433 (1) Represents "Gross premiums" for benefit reserves; "Gross assessments" for additional insurance reserves; and "Revenue" for deferred profit liability. Year Ended December 31, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 373,845 $ 0 $ 8,440 $ 382,285 Deferred profit liability 0 0 552 552 Additional insurance reserves 0 486,253 0 486,253 Total $ 373,845 $ 486,253 $ 8,992 $ 869,090 Year Ended December 31, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 363,375 $ 0 $ 7,836 $ 371,211 Deferred profit liability 0 0 616 616 Additional insurance reserves 0 433,631 0 433,631 Total $ 363,375 $ 433,631 $ 8,452 $ 805,458 Year Ended December 31, 2021 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 343,467 $ 0 $ 7,454 $ 350,921 Deferred profit liability 0 0 529 529 Additional insurance reserves 0 344,789 0 344,789 Total $ 343,467 $ 344,789 $ 7,983 $ 696,239 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: Year Ended December 31, 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 1,158,879 (246,747) 912,132 Claims paid (85,898) 9,952 (75,946) Interest accrual 293,205 (53,016) 240,189 Actual in force different from expected 79,030 (13,338) 65,692 Effect of changes in interest rates (1,438,873) 455,062 (983,811) Effect of changes in equity markets (1,845,207) 180,953 (1,664,254) Effect of assumption update 330,769 (54,067) 276,702 Issuances 29,433 7,680 37,113 Other adjustments(1) (36,888) (635,011) (671,899) Effect of changes in current period counterparty non-performance risk 0 (146,999) (146,999) Balance, end of period, before effect of changes in non-performance risk 4,762,985 (917,792) 3,845,193 Effect of cumulative changes in non-performance risk (1,068,035) 0 (1,068,035) Balance, end of period $ 3,694,950 $ (917,792) $ 2,777,158 Year Ended December 31, 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 1,249,956 (147,727) 1,102,229 Claims paid (64,406) 3,456 (60,950) Interest accrual 143,483 (13,438) 130,045 Actual in force different from expected 105,996 (9,968) 96,028 Effect of changes in interest rates (7,271,427) 767,394 (6,504,033) Effect of changes in equity markets 3,103,563 (326,575) 2,776,988 Effect of assumption update (160,597) 23,171 (137,426) Effect of changes in current period counterparty non-performance risk 0 187,910 187,910 Balance, end of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Effect of cumulative changes in non-performance risk (1,727,910) 0 (1,727,910) Balance, end of period $ 4,550,625 $ (422,261) $ 4,128,364 Year Ended December 31, 2021 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 13,577,543 $ (13,589,575) $ (12,032) Effect of cumulative changes in non-performance risk 722,837 0 722,837 Balance, beginning of period, before effect of changes in non-performance risk 14,300,380 (13,589,575) 710,805 Attributed fees collected 1,368,434 (759,997) 608,437 Claims paid (29,401) 14,648 (14,753) Interest accrual 24,824 (16,593) 8,231 Actual in force different from expected (19,290) 22,687 3,397 Effect of changes in interest rates (3,461,436) 3,240,588 (220,848) Effect of changes in equity markets (2,789,777) 2,070,833 (718,944) Effect of assumption update (221,767) 221,767 0 Other adjustments(1) 0 8,223,470 8,223,470 Effect of changes in current period counterparty non-performance risk 0 (334,312) (334,312) Balance, end of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Effect of cumulative changes in non-performance risk (287,605) 0 (287,605) Balance, end of period $ 8,884,362 $ (906,484) $ 7,977,878 (1) Other adjustments for December 31, 2023 primarily includes $638 million related to the reinsurance transaction with AuguStar. See Note 11 for additional information. Other adjustments for December 31, 2021 includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. In 2023, the Company recognized an unfavorable impact to net income attributable to the actuarial assumption update for direct and assumed MRBs, 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 MRBs, primarily due to updates to mortality and policyholder behavior assumptions on certain variable annuities. In 2021, the Company recognized a favorable impact to net income attributable to the actuarial assumption update for direct and assumed MRBs, primarily due to updates to long-term asset mix assumptions supporting claims 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. December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities ($ in thousands) Net amount at risk(1) $ 9,041,651 $ 12,141,947 $ 2,566,157 Weighted-average attained age of contractholders 70 68 66 (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: December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities (in thousands) Market risk benefit assets $ 2,367,243 $ 1,393,237 $ 1,786,565 Market risk benefit liabilities 5,144,401 5,521,601 9,764,443 Net liability $ 2,777,158 $ 4,128,364 $ 7,977,878

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 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 Re, PALAC, a former subsidiary of Prudential Financial that was sold to Fortitude on April 1, 2022, which is discussed in Note 1, and Prudential Life Insurance Company of Taiwan Inc. ("Prudential of Taiwan"), a subsidiary of Prudential Financial that was sold to a third-party on June 30, 2021, as discussed below. As of July 1, 2021, the Company recaptured the risks related to its business that had been previously reinsured to PALAC as a result of the 2021 Variable Annuities Recapture, which is discussed below and 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 YRT 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. Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows: 2023 2022 (in thousands) Reinsurance recoverables(1) $ 38,709,651 $ 37,096,562 Policy loans (1,082,584) (1,011,112) Deferred policy acquisition costs(1) (3,195,161) (3,343,270) Deferred sales inducements(1) (35,313) (38,146) Market risk benefit assets(1) 1,165,378 543,177 Other assets(1) 1,897,410 1,146,794 Policyholders’ account balances(1) 5,977,108 7,157,639 Future policy benefits(1) 7,026,209 6,320,863 Market risk benefit liabilities(1) 249,538 120,916 Other liabilities(1) 4,397,862 2,891,433 (1) Prior period amounts reflect 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 Consolidated Statements of Financial Position as of December 31, were as follows: 2023 2022 (in thousands) Deferred policy acquisition costs(1) $ 71,315 $ 111,379 Market risk benefit assets(1) 745,662 64,738 Other assets 1,795,422 1,034,000 Policyholders' account balances(1) 1,830,579 2,771,961 Future policy benefits 453 0 Market risk benefit liabilities(1) 131,594 40,731 Other liabilities 1,915,205 820,185 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Reinsurance recoverables by counterparty as of December 31, are broken out below: 2023 2022(1) (in thousands) PAR U $ 15,722,061 $ 15,051,337 PURC 7,565,968 6,928,950 PARCC 2,304,270 2,437,589 GUL Re 3,211,899 3,124,697 PAR Term 2,101,004 2,040,599 Prudential Insurance 1,311,525 986,013 Term Re 2,080,564 1,830,197 Lotus Re 2,051,831 1,952,215 DART 744,043 578,462 Unaffiliated 1,616,486 2,166,503 Total reinsurance recoverables $ 38,709,651 $ 37,096,562 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Direct(1) $ 1,853,184 $ 1,868,709 $ 1,903,865 Assumed (61) 776 162 Ceded(1) (1,524,226) (1,604,277) (1,719,569) Net premiums(1) 328,897 265,208 184,458 Policy charges and fee income: Direct(1) 2,995,595 3,034,193 3,348,259 Assumed(1) 604,311 594,622 565,814 Ceded(1) (2,063,300) (2,398,214) (2,613,978) Net policy charges and fee income(1) 1,536,606 1,230,601 1,300,095 Net investment income: Direct 1,700,684 920,674 555,404 Assumed 1,364 1,513 1,049 Ceded (26,526) (38,186) (6,218) Net investment income(2) 1,675,522 884,001 550,235 Asset administration fees: Direct 323,444 351,600 403,359 Assumed 0 0 0 Ceded (90,494) (67,418) (201,182) Net asset administration fees 232,950 284,182 202,177 Other income (loss): Direct 636,930 (731,796) 227,035 Assumed (475) 271 (66) Ceded(1) 108,173 80,056 35,451 Net other income(1)(2) 744,628 (651,469) 262,420 2023 2022 2021 Realized investment gains (losses), net: Direct(1) (1,195,753) 497,016 (388,914) Assumed(1) 162,291 (244,000) 12,592 Ceded(1) (50,198) 83,366 (10,572) Realized investment gains (losses), net(1)(2) (1,083,660) 336,382 (386,894) Change in value of market risk benefits, net of related hedging gain (loss): Direct(1) 298,425 (181,260) 9,096,963 Assumed (2,199) 0 0 Ceded(1) (390,594) (519,321) (13,319,493) Net change in value of market risk benefits, net of related hedging gain (loss)(1) (94,368) (700,581) (4,222,530) Policyholders’ benefits (including change in reserves): Direct(1) 3,354,306 3,362,353 3,215,531 Assumed(1) 1,258,651 1,107,436 905,325 Ceded(1) (4,109,168) (4,011,416) (4,038,146) Net policyholders’ benefits (including change in reserves)(1)(2) 503,789 458,373 82,710 Change in estimates of liability for future policy benefits: Direct(1) (18,361) 1,716,983 99,202 Assumed(1) 8,644 679,863 (16,166) Ceded(1) 13,669 (2,341,747) (56,028) Net change in estimates of liability for future policy benefits(1) 3,952 55,099 27,008 Interest credited to policyholders’ account balances: Direct(1) 918,327 805,411 525,038 Assumed 136,725 74,402 138,202 Ceded(1) (399,607) (434,598) (814,629) Net interest credited to policyholders’ account balances(1) 655,445 445,215 (151,389) Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(1) (399,870) (150,374) (2,195,677) (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting. Unaffiliated reinsurance assumed and ceded amounts included in the table above and in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Assumed(1) $ (69) $ 149 $ 162 Ceded(1) (70,169) (42,721) (26,143) Policy charges and fee income: Assumed 1,563 2,113 0 Ceded (143,764) (81,781) (65,451) Net investment income(2): Ceded 23,023 10,802 687 Asset administration fees: Ceded (22,415) 0 0 Other income (loss)(2): Assumed (211) 270 (68) Ceded(1) 37,526 3,243 0 Realized investment gains (losses), net(2): Assumed(1) 162,291 778,620 0 Ceded(1) (45,711) 82,386 80,540 Change in value of market risk benefits, net of related hedging gain (loss): Assumed(1) (2,199) 0 0 Ceded(1) (186,996) (120,663) (130,654) Policyholders' benefits (including change in reserves)(2): Assumed 804 2,566 429 Ceded(1) (157,344) (94,402) (186,927) Change in estimates of liability for future policy benefits: Ceded(1) (1,367) (6,824) 0 Interest credited to policyholders' account balances: Assumed 16,243 (95,285) 0 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting. The gross and net amounts of life insurance face amount in force as of December 31, were as follows: 2023 2022 2021 (in thousands) Direct gross life insurance face amount in force $ 1,127,561,798 $ 1,093,610,227 $ 1,079,382,740 Assumed gross life insurance face amount in force 35,558,423 36,668,045 37,822,851 Reinsurance ceded (1,027,473,705) (1,009,571,304) (992,635,327) Net life insurance face amount in force $ 135,646,516 $ 120,706,968 $ 124,570,264 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. See Note 1 for additional information. 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. Prudential of Taiwan On January 31, 2001, Pruco Life transferred all of its assets and liabilities associated with its Taiwanese branch, including its Taiwanese insurance book of business, to Prudential of Taiwan. The mechanism used to transfer this block of business in Taiwan is referred to as a “full acquisition and assumption” transaction. Under this mechanism, Pruco Life is jointly liable with Prudential of Taiwan for two years from the giving of notice to all obligees for all matured obligations and for two years after the maturity date of not-yet-matured obligations. Prudential of Taiwan is also contractually liable, under indemnification provisions of the transaction, for any liabilities that may be asserted against Pruco Life. The transfer of the insurance related assets and liabilities was accounted for as a long-duration coinsurance transaction under U.S. GAAP. Under this accounting treatment, the insurance related liabilities remain on the books of Pruco Life and an offsetting reinsurance recoverable is established. These assets and liabilities are denominated in U.S. dollars. On August 11, 2020, Prudential International Insurance Holdings, Ltd. (“PIIH”), a subsidiary of Prudential Financial, entered into a Share Purchase Agreement with Taishin Financial Holding Co., Ltd. (the “Buyer”) pursuant to which PIIH has agreed to sell to the Buyer all of the issued and outstanding capital stock of Prudential of Taiwan. The Share Purchase Agreement contains customary warranties and covenants of PIIH and the Buyer. On June 30, 2021, PIIH completed the sale of Prudential of Taiwan to the Buyer. This resulted in the removal of the insurance related liabilities and offsetting reinsurance recoverables previously on the books of Pruco Life. The Buyer provided Pruco Life a backstop indemnification and Pruco Life provided a guarantee to stand ready to perform in the event of default by both Prudential of Taiwan and the Buyer. Refer to Note 16 for details on the guarantee. 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 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 AuguStar Life Insurance Company (Formerly Known as The Ohio National Life Insurance Company) Effective April 1, 2023, the Company entered into an agreement with AuguStar, 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 FLIAC's indexed variable annuities under modified coinsurance. 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 receivable, which reflects the value of the invested assets retained by FLIAC and the associated asset returns. The Company also assumed via coinsurance 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 December 31, 2023, the total account value of contracts novated from FLIAC to the Company were $5.3 billion for indexed variable annuities contracts and $2.0 billion for fixed annuities and fixed indexed annuities contracts, which is approximately 80% of the total reinsured block. Somerset Re Effective October 1, 2021, the Company entered into a reinsurance agreement with Somerset Reinsurance Ltd. (“Somerset Re") to coinsure business, on a quota share funds withheld basis, related to fixed index annuities. Under the reinsurance agreement, the Company cedes to Somerset Re its quota share of the insurance liabilities with respect to the reinsured contracts. The deposit assets on reinsurance totaled $1,618 million and $828 million at December 31, 2023 and 2022, respectively. The funds withheld liabilities totaled $1,518 million and $705 million at December 31, 2023 and 2022, respectively. 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 ®

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The following schedule discloses significant components of income tax expense (benefit) for each year presented: Years Ended December 31, 2023 2022 2021 (in thousands) Current tax expense (benefit): U.S. federal $ 698,170 $ (345,263) $ 440,649 State and local 14,550 4,479 5,002 Total 712,720 (340,784) 445,651 Deferred tax expense (benefit): U.S. federal(1) (683,342) 45,249 (920,437) Total (683,342) 45,249 (920,437) Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures 29,378 (295,535) (474,786) Income tax expense (benefit) on equity in earnings of operating joint ventures (109) (193) (147) Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss)(1) (5,627) (106,197) (128,241) Total income tax expense (benefit) $ 23,642 $ (401,925) $ (603,174) (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Reconciliation of Expected Tax at Statutory Rates to Reported Income Tax Expense (Benefit) The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2023, 2022 and 2021, and the reported income tax expense (benefit) are summarized as follows: Years Ended December 31, 2023 2022 2021 ($ in thousands) Expected federal income tax expense (benefit)(1) $ 103,215 $ (207,292) $ (392,740) Non-taxable investment income (42,730) (46,426) (48,662) Tax credits (42,578) (47,544) (36,806) Changes in tax law 0 0 (3,644) State tax (net of federal benefit)(2) 11,495 3,538 3,952 Other(2) (24) 2,189 3,114 Reported income tax expense (benefit) $ 29,378 $ (295,535) $ (474,786) Effective tax rate(1) 6.0 % 29.9 % 25.4 % (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Prior period amounts have been updated to conform to current period presentation. The effective tax rate is the ratio of “Income tax expense (benefit)” divided by “Income (loss) from operations before income taxes and equity in earnings of operating joint venture.” The Company’s effective tax rate for fiscal years 2023, 2022 and 2021 was 6.0%, 29.9% and 25.4%, respectively. The following is a description of items that had a significant impact on the difference between the Company’s statutory U.S. federal income tax rate of 21% applicable for 2023, 2022 and 2021, and the Company’s effective tax rate during the periods presented: Non-Taxable Investment Income . The U.S. Dividends Received Deduction (“DRD”) reduces the amount of dividend income subject to U.S. tax and is included in the non-taxable investment income shown in the table above. More specifically, the U.S. DRD constitutes $40 million of the total $43 million of 2023 non-taxable investment income, $44 million of the total $46 million of 2022 non-taxable investment income, and $46 million of the total $49 million of 2021 non-taxable investment income. The DRD for the current period was estimated using information from 2022, current year investment results, and current year’s equity market performance. The actual current year DRD can vary based on factors such as, but not limited to, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. Tax credits . These amounts primarily represent tax credits relating to foreign taxes withheld on the Company’s separate account investments. Other . This line item represents reconciling items that are individually less than 5% of the computed expected federal income tax expense (benefit) and have therefore been aggregated for purposes of this reconciliation in accordance with relevant disclosure guidance. Schedule of Deferred Tax Assets and Deferred Tax Liabilities December 31, 2023 2022 (in thousands) Deferred tax assets: Insurance reserves(1) $ 1,660,421 $ 1,235,687 Investments(1) 776,190 354,538 Net unrealized loss on securities(1) 296,749 481,989 Other(1) 4,723 2,801 Deferred tax assets 2,738,083 2,075,015 Deferred tax liabilities: Deferred policy acquisition cost(1) 936,929 954,953 Deferred sales inducements(1) 72,791 80,116 Deferred tax liabilities 1,009,720 1,035,069 Net deferred tax asset (liability) $ 1,728,363 $ 1,039,946 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. The application of U.S. GAAP requires the Company to evaluate the recoverability of deferred tax assets and establish a valuation allowance if necessary to reduce the deferred tax asset to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. In evaluating the need for a valuation allowance, the Company considers many factors, including: (1) the nature of the deferred tax assets and liabilities; (2) whether they are ordinary or capital; (3) in which tax jurisdictions they were generated and the timing of their reversal; (4) taxable income in prior carryback years as well as projected taxable earnings exclusive of reversing temporary differences and carryforwards; (5) the length of time that carryovers can be utilized in the various taxing jurisdictions; (6) any unique tax rules that would impact the utilization of the deferred tax assets; and (7) any tax planning strategies that the Company would employ to avoid a tax benefit from expiring unused. Although realization is not assured, management believes it is more likely than not that the deferred tax assets, net of valuation allowances, will be realized. Changes in market conditions, including the significant rise in interest rates since the beginning of 2022, resulted in the recording of deferred tax assets related to net unrealized tax capital losses in the Company. When assessing recoverability of these deferred tax assets, the Company considers its ability and intent to hold the underlying securities to recovery in value, if necessary, as well as other factors as noted above. As of December 31, 2023, based on all available evidence, including capital loss carryback capacity, the Company concluded that the deferred tax assets related to the unrealized tax capital losses on the available-for-sale securities portfolios are, more likely than not, expected to be realized. The Company had no valuation allowance as of December 31, 2023, and 2022. Adjustments to the valuation allowance will be made if there is a change in management’s assessment of the amount of deferred tax asset that is realizable. The Company’s “Income (loss) from operations before income taxes and equity in earnings of operating joint venture” includes income from domestic operations of $492 million, $(987) million and $(1,870) million for the years ended December 31, 2023, 2022 and 2021, respectively. Tax Audit and Unrecognized Tax Benefits The Company’s liability for income taxes includes the liability for unrecognized tax benefits and interest that relate to tax years still subject to review by the IRS or other taxing authorities. The completion of review or the expiration of the Federal statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company had no unrecognized tax benefits as of December 31, 2023, 2022, and 2021. The Company does not anticipate any significant changes within the next twelve months to its total unrecognized tax benefits related to tax years for which the statute of limitations has not expired. The Company classifies all interest and penalties related to tax uncertainties as income tax expense (benefit). The Company did not recognize tax related interest and penalties. At December 31, 2023, the Company remains subject to examination in the U.S. for tax years 2014 through 2023. The Company participates in the IRS’s Compliance Assurance Program. Under this program, the IRS assigns an examination team to review completed transactions as they occur in order to reach agreement with the Company on how they should be reported in the relevant tax returns. If disagreements arise, accelerated resolutions programs are available to resolve the disagreements in a timely manner.

Equity

Equity	12 Months Ended
	Dec. 31, 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 Consolidated Statements of Operations and Comprehensive Income (Loss). Net unrealized investment gains (losses) are described in further detail in Note 2, Note 8 (Interest rate remeasurement of Liability for Future Policy Benefits) and Note 10 (Gains (losses) from Changes in Nonperformance Risk on Market Risk Benefits). The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Currency 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, 2020 $ (7,797) $ 553,925 $ 0 $ 0 $ 546,128 Cumulative effect of adoption of ASU 2018-12 0 (81,364) (155,255) 571,039 334,420 Change in OCI before reclassifications(2) (3,891) (185,492) 37,274 (435,232) (587,341) Amounts reclassified from AOCI 0 (24,994) 0 0 (24,994) Income tax benefit (expense)(2) 414 44,256 (7,828) 91,399 128,241 Balance, December 31, 2021 (11,274) 306,331 (125,809) 227,206 396,454 Change in OCI before reclassifications(2) (9,337) (2,249,609) 310,351 1,440,307 (508,288) Amounts reclassified from AOCI 0 (4,428) 0 0 (4,428) Income tax benefit (expense)(2) 604 473,231 (65,174) (302,464) 106,197 Balance, December 31, 2022 (20,007) (1,474,475) 119,368 1,365,049 (10,065) Change in OCI before reclassifications 2,419 677,735 (60,978) (659,875) (40,699) Amounts reclassified from AOCI 0 14,217 0 0 14,217 Income tax benefit (expense) (497) (145,255) 12,805 138,574 5,627 Balance, December 31, 2023 $ (18,085) $ (927,778) $ 71,195 $ 843,748 $ (30,920) (1) Includes cash flow hedges of $12 million, $139 million, and $40 million as of December 31, 2023, 2022 and 2021, respectively. (2) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Reclassifications out of Accumulated Other Comprehensive Income (Loss) Years Ended December 31, 2023 2022 2021 (in thousands) Amounts reclassified from AOCI(1)(2): Net unrealized investment gains (losses): Cash flow hedges—Currency/Interest rate(3) $ 16,976 $ 78,433 $ 28,508 Net unrealized investment gains (losses) on available-for-sale securities (31,193) (74,005) (3,514) Total net unrealized investment gains (losses)(4) (14,217) 4,428 24,994 Total reclassifications for the period $ (14,217) $ 4,428 $ 24,994 (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 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 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 Investment Gains (Losses) on Available-for-Sale Fixed Maturity Securities on Which an Allowance for Credit Losses has been Recognized Net Unrealized Gains (Losses) on All Other Investments(1) Other Costs(2) Future Policy Income Tax Accumulated (in thousands) Balance, December 31, 2020 $ 0 $ 849,349 $ 1,200,048 $ (1,348,231) $ (147,241) $ 553,925 Cumulative effect of adoption of ASU 2018-12 0 (1,000) (89,160) (12,880) 21,677 (81,363) Net investment gains (losses) on investments arising during the period 2,951 (240,903) 0 0 50,016 (187,936) Reclassification adjustment for (gains) losses included in net income (8) (24,986) 0 0 5,254 (19,740) Reclassification due to allowance for credit losses recorded during the period 742 (742) 0 0 0 0 Impact of net unrealized investment (gains) losses(4) 0 0 (275,458) 327,917 (11,014) 41,445 Balance, December 31, 2021 3,685 581,718 835,430 (1,033,194) (81,308) 306,331 Net investment gains (losses) on investments arising during the period (149) (2,737,481) 0 0 574,760 (2,162,870) Reclassification adjustment for (gains) losses included in net income 831 (5,259) 0 0 930 (3,498) Reclassification due to allowance for credit losses recorded during the period 4 (4) 0 0 0 0 Impact of net unrealized investment (gains) losses(4) 0 0 (2,033,852) 2,521,873 (102,459) 385,562 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 (4,482) 744,727 0 0 (155,393) 584,852 Reclassification adjustment for (gains) losses included in net income (265) 14,482 0 0 (2,984) 11,233 Reclassification due to allowance for credit losses recorded during the period 2,363 (2,363) 0 0 0 0 Impact of net unrealized investment (gains) losses 0 0 397,071 (459,581) 13,122 (49,388) Balance, December 31, 2023 $ 1,987 $ (1,404,180) $ (801,351) $ 1,029,098 $ 246,668 $ (927,778) (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. (3) "Other liabilities" primarily includes reinsurance payables. (4) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. Noncontrolling interests For certain subsidiaries, the Company owns a controlling interest that is less than 100% ownership of the subsidiary but must consolidate 100% of the subsidiary’s financial statements in accordance with U.S. GAAP. Noncontrolling interests represent the portion of equity ownership in a consolidated subsidiary that is not attributable to the Company.

Statutory Net Income and Surplu

Statutory Net Income and Surplus and Dividend Restrictions	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Statutory Net Income and Surplus and Dividend Restrictions	STATUTORY NET INCOME AND SURPLUS AND DIVIDEND RESTRICTIONS The Company is required to prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the Arizona Department of Insurance ("AZDOI"). It's subsidiary PLNJ is required to prepare statutory financial statements in accordance with accounting practices prescribed or permitted by the New Jersey Department of Insurance and Banking. Statutory accounting practices primarily differ from U.S. GAAP by charging policy acquisition costs to expense as incurred, establishing future policy benefit liabilities using different actuarial assumptions and valuing investments, deferred taxes, and certain assets on a different basis. The following table summarizes certain statutory financial information for the Company, including its subsidiary PLNJ, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in millions) Statutory net income (loss)(1) $ 4,923 $ 3,317 $ 833 Statutory capital and surplus(1) 5,161 5,205 5,955 (1) 2022 amounts include adjustments made to the audited statutory financial statements as of December 31, 2022. The Company does not utilize prescribed or permitted practices that vary materially from the statutory accounting practices prescribed by the NAIC. The Company is subject to Arizona law, which limits the amount of dividends that insurance companies can pay to stockholders without approval of the AZDOI. The maximum dividend, which may be paid in any twelve-month period without notification or approval, is limited to the lesser of 10% of statutory surplus as of December 31 of the preceding year or the net gain from operations of the preceding calendar year. Cash dividends may only be paid out of surplus derived from realized net profits. The Company must obtain approval from AZDOI prior to paying a dividend if the dividend, together with other dividend distributions made within the preceding twelve months, would exceed the lesser of 10% of statutory surplus or net gain from operations. Based on these limitations, there is no capacity to pay a dividend in 2024 without prior approval. In 2023, there was $1,400 million return of capital to Prudential Insurance. The Company did not pay dividends to Prudential Insurance in 2023, 2022 and 2021.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 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 $1 million for each of the years ended December 31, 2023, 2022 and 2021. The expense charged to the Company for the deferred compensation program was $5 million, $5 million and $4 million for the years ended December 31, 2023, 2022 and 2021, 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 $13 million, $19 million and $14 million for the years ended December 31, 2023, 2022 and 2021, 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 $14 million, $15 million and $13 million for the years ended December 31, 2023, 2022 and 2021, respectively. 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 the voluntary savings plan was $7 million, $9 million and $5 million for the years ended December 31, 2023, 2022 and 2021, respectively. 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 $587 million, $611 million and $379 million for the years ended December 31, 2023, 2022 and 2021, 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 $144 million, $105 million and $86 million for the years ended December 31, 2023, 2022 and 2021, 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 $4,156 million and $4,512 million as of December 31, 2023 and 2022, respectively. Fees related to these COLI policies were $50 million, $52 million and $56 million for the years ended December 31, 2023, 2022 and 2021, 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 December 31, 2023. Interest income related to the policy loan was $26 million for the year ended December 31, 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 $53 million, $41 million and $20 million for the years ended December 31, 2023, 2022 and 2021, respectively. These expenses are recorded as “Net investment income” in the Consolidated Statements of Operations and Comprehensive Income. 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 $499 million and $137 million for the years ended December 31, 2023 and 2022, respectively, and are included in "Other income (loss)". Joint Ventures The Company has made investments in joint ventures with certain subsidiaries of Prudential Financial. "Other invested assets" includes $754 million and $606 million of investments in joint ventures as of December 31, 2023 and 2022, respectively. "Net investment income" related to these ventures includes gains(losses) of $5 million, $21 million and $39 million for the years ended December 31, 2023, 2022 and 2021, 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 $274 million, $306 million and $374 million for the years ended December 31, 2023, 2022 and 2021, respectively. These revenues are recorded as “Asset administration fees” in the Consolidated Statements of Operations and Comprehensive Income. Affiliated Notes Receivable Affiliated notes receivable included in “Receivables from parent and affiliates” at December 31, were as follows: Maturity Dates Interest Rates 2023 2022 (in thousands) U.S. dollar fixed rate notes 2025 - 2027 0.00% - 14.85 % $ 147,984 $ 148,076 Total notes receivable - affiliated(1) $ 147,984 $ 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. Accrued interest receivable related to these loans was $1 million at both December 31, 2023 and 2022, and is included in “Other assets.” Revenues related to these loans was $3 million, $3 million and $4 million for the years ended December 31, 2023, 2022 and 2021, respectively, and are included in “Other income (loss).” Affiliated Commercial Mortgage Loan The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at December 31, was as follows: Maturity Date Interest Rate 2023 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.85% $ 71,038 $ 72,225 This affiliated commercial mortgage loan was transferred from PALAC as part of the 2021 Variable Annuities Recapture. See Note 1 for details. 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 at both December 31, 2023 and 2022, and is included in "Accrued investment income". Revenues were $6.9 million, $4.6 million and $1.7 million for the years ended December 31, 2023, 2022, and 2021, respectively, and is 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 years ended December 31, 2023 and 2022. Affiliate Date Transaction Security Type Fair Book Value APIC, Net 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 Prudential Insurance September 2023 Purchase Fixed Maturities $ 15,880 $ 15,801 $ (62) $ 0 Prudential Insurance December 2023 Sale Commercial Mortgage and Other Loans $ 762 $ 754 $ 0 $ 8 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 debt. There is no long-term debt to affiliates as of December 31, 2023. Affiliate Date Issued Amount of Notes - December 31, 2023 Amount of Notes - December 31, 2022 Interest Date of Maturity (in thousands) Prudential Insurance 8/13/2021 $ 0 $ 96,666 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 0 29,000 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 94,953 97,665 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 37,981 39,066 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 47,477 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 Total Loans Payable to Affiliates(1) $ 180,411 $ 311,813 (1) Includes $180 million of loans reclassified as current portion of long-term debt as of December 31, 2023. Effective August 2021, the affiliated long-term debt was transferred to the Company from PALAC based on the market value of $324 million. The Company recorded a premium of $24 million which is amortized into earnings over the life of the loans. The total interest expense to the Company related to affiliated loans and cash collateral with PGF was $17 million, $3 million and $0 million for the years ended December 31, 2023, 2022 and 2021, respectively. All debt outstanding as of December 31, 2023 and 2022 is that of Pruco Life. Contributed Capital and Dividends In February and December 2023, the Company received capital contributions in the amount of $405 million and $7 million, respectively, from Prudential Insurance. In March, June and September of 2022, the Company received capital contributions in the amount of $8 million, $3 million and $7 million, respectively, from Prudential Insurance. In January, July and December of 2021, the Company received capital contributions in the amounts of $106 million, $3,813 million and $457 million, respectively, from Prudential Insurance. The December 2021 capital contribution includes $167 million of invested assets related to the reinsurance agreement with PALAC. In June, September, and December 2023, there was a $300 million, $650 million, and $450 million return of capital, respectively, to Prudential Insurance. In June 2021, there was a $34 million return of capital to Prudential Insurance associated with the financial guarantee related to the sale of Prudential of Taiwan. There was no return of capital in 2022. In 2023, 2022 and 2021, 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	12 Months Ended
	Dec. 31, 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 December 31, 2023 and 2022, the outstanding balances on these commitments were $270 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 $0.3 million and $0.1 million as of December 31, 2023 and 2022, respectively, which is a change of $0.3 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively. The Company also made commitments to purchase or fund investments, mostly fund investments and private fixed maturities, some of which are contingent upon events or circumstances not under the Company’s control, i ncluding those at the discretion of the Company’s counterparties. The Company anticipates a portion of these commitments will ultimately be funded from its separate accounts. As of December 31, 2023 and 2022, $1,182 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 both the years ended December 31, 2023 and 2022. Guarantees In July 2017, Pruco Life formed a joint venture with CT Corp to provide life insurance solutions in Indonesia. Pruco Life 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 Pruco Life 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. Pruco Life does not expect to make any payments on this guarantee and is not carrying any liabilities associated with the guarantee. Since 2001, Pruco Life entered into an arrangement with Prudential of Taiwan as discussed in Note 11. In June 2021, PIIH completed the sale of Prudential of Taiwan. As a result of the sale, Pruco Life 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. Pruco Life has a liability of $32 million and $33 million as of December 31, 2023 and 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. Guarantees of Asset Values December 31, 2023 2022 (in thousands) Guaranteed value of third-party assets $ 311,302 $ 0 Fair value of collateral supporting these assets $ 287,621 $ 0 Asset (liability) associated with guarantee, carried at fair value $ 1 $ 0 Certain contracts underwritten by Pruco Life include guarantees related to financial assets owned by the guaranteed party. These contracts are accounted for as derivatives and carried at fair value. The collateral supporting these guarantees is not reflected on the Consolidated Statements of Financial Position. 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 December 31, 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. Individual Annuities and Individual Life Moreland, Socorro v. PICA, et al. In June 2020, a putative class action complaint entitled Socorro Moreland v. The Prudential Insurance Company of America; Pruco Life Insurance Company, was filed in the United States District Court for the Northern District of California, alleging that the Company failed to comply with California laws requiring that life insurance policies issued and delivered in California: (i) provide for a 60-day grace period pre-lapse during which a policy must stay in force; (ii) provide a 30-day written notice of pending lapse; and (iii) notify policyowners of their right to designate additional recipients for lapse notices. The complaint asserts claims for violation of California law, breach of contract, unfair competition, and bad faith violation of the implied covenant of good faith and fair dealing, and seeks unspecified damages, declaratory and injunctive relief. In August 2020, defendants filed an answer to the complaint and a motion to stay the action pending the California Supreme Court’s decision, in McHugh v. Protective Life Insurance, on the question of whether the California lapse statutes apply to policies that were in force when the statutes went into effect on January 1, 2013, or solely to policies issued after that date. The Moreland court granted defendants’ motion to stay in October 2020. Subsequently, in August 2021, the California Supreme Court in McHugh determined that the California lapse statutes apply to policies that were in force as of January 1, 2013. In October 2021, the Moreland court lifted the stay order. In December 2022, plaintiff filed a motion for class certification. In September 2023, the court issued an Order denying plaintiff’s class certification motion. In January 2024, the court issued a Joint Stipulation and Order dismissing the case with prejudice. This matter is now closed. California Advocates for Nursing Home Reform v. The Prudential Insurance Company of America and Pruco Life Insurance Company, et al . In January 2024, a putative class action complaint entitled California Advocates for Nursing Home Reform v. The Prudential Insurance Company of America and Pruco Life Insurance Company, et al., was filed in California Superior Court, Alameda County, alleging that the Company has failed to comply with California laws requiring that life insurance policies issued or delivered in California: (i) provide for a contractual 60-day grace period pre-lapse during which a policy must stay in force; (ii) provide policyholders and designees with notice of payment default within 30 days and a 30-day advance written notice of pending lapse; and (iii) notify policyholders annually of their right to designate additional recipients for lapse notices. The complaint asserts claims for violation of California’s Unfair Competition law and seeks unspecified damages along with declaratory and injunctive relief. Regulatory Variable Products The Company has received regulatory inquiries and requests for information from state and federal regulators, including subpoenas from the U.S. Securities and Exchange Commission, concerning the appropriateness of variable product sales and replacement activity. The Company is cooperating with regulators and may become subject to additional regulatory inquiries and other actions related to this matter. 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.

Schedule I - Summary of Investm

Schedule I - Summary of Investments Other Than investments in Related Parties	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I - Summary of Investments Other Than investments in Related Parties	Type of Investment Amortized Cost or Cost Fair Amount Fixed maturities, available-for-sale: Bonds: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 1,009,937 $ 975,287 $ 975,287 Obligations of U.S. states and their political subdivisions 789,856 776,627 776,627 Foreign governments 330,830 281,986 281,986 Asset-backed securities 2,016,028 2,027,550 2,027,550 Commercial mortgage-backed securities 913,347 851,778 851,778 Residential mortgage-backed securities 399,542 396,070 396,070 Public utilities 2,379,489 2,196,446 2,196,446 All other corporate bonds 19,693,932 18,620,862 18,620,862 Redeemable preferred stock 5,105 5,174 5,174 Total fixed maturities, available-for-sale $ 27,538,066 $ 26,131,780 $ 26,131,780 Equity securities: Common stocks: Other common stocks $ 783,571 $ 805,715 $ 805,715 Mutual funds 12,188 11,277 11,277 Perpetual preferred stocks 28,511 27,958 27,958 Total equity securities, at fair value $ 824,270 $ 844,950 $ 844,950 Fixed maturities, trading $ 3,476,746 $ 2,796,446 $ 2,796,446 Commercial mortgage and other loans 6,122,721 6,122,721 Policy loans 1,472,677 1,472,677 Short-term investments 380,366 380,366 Other invested assets 1,222,985 1,222,985 Total investments $ 41,037,831 $ 38,971,925

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule II - Condensed Financial Information of Registrant	PRUCO LIFE INSURANCE COMPANY Schedule II Condensed Financial Information of Registrant Condensed Statements of Financial Positions December 31, 2023 and 2022 (in thousands, except share amounts) December 31, 2023 December 31, 2022 ASSETS Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2023 – $2,004; 2022 – $4,406) (amortized cost: 2023 – $24,872,031; 2022 – $19,320,369) $ 23,662,832 $ 17,305,913 Fixed maturities, trading, at fair value (amortized cost: 2023 – $3,451,001; 2022 – $2,654,456) 2,773,006 1,912,377 Equity securities, at fair value (cost: 2023 – $819,617; 2022 – $143,565) 840,335 138,714 Policy loans 357,581 293,304 Short-term investments 374,407 117,491 Commercial mortgage and other loans (net of $36,527 and $19,855 allowance for credit losses at December 31, 2023 and December 31, 2022, respectively) 5,883,092 4,780,501 Other invested assets (includes $80,638 and $113,721 of assets measured at fair value at December 31, 2023 and 2022, respectively) 1,073,038 959,085 Total investments 34,964,291 25,507,385 Cash and cash equivalents 1,953,388 2,141,860 Deferred policy acquisition costs 6,704,372 6,578,551 Accrued investment income 279,567 194,413 Reinsurance recoverables 35,163,935 34,033,034 Investment in subsidiaries 1,434,641 1,026,655 Receivables from parent and affiliates 308,635 206,127 Deferred sales inducements 351,424 381,504 Income tax assets 1,670,376 1,627,136 Market risk benefit assets 1,829,584 834,613 Other assets 2,051,898 1,290,499 Separate account assets 105,111,382 100,124,288 TOTAL ASSETS $ 191,823,493 $ 173,946,065 LIABILITIES AND EQUITY LIABILITIES Policyholders’ account balances $ 48,976,616 $ 39,138,221 Future policy benefits 20,864,146 18,733,638 Market risk benefit liabilities 4,606,742 4,962,977 Cash collateral for loaned securities 218,310 86,750 Short-term debt to affiliates 180,411 126,250 Long-term debt to affiliates 0 185,563 Payables to parent and affiliates 2,658,870 2,119,579 Other liabilities 4,715,785 3,432,604 Separate account liabilities 105,111,382 100,124,288 Total liabilities 187,332,262 168,909,870 EQUITY Common stock ($10 par value; 1,000,000 shares authorized; 250,000 shares issued and 250,000 outstanding) 2,500 2,500 Additional paid-in capital 5,052,602 6,037,914 Retained earnings / (accumulated deficit) (532,951) (994,154) Accumulated other comprehensive income (loss) (30,920) (10,065) Total equity 4,491,231 5,036,195 TOTAL LIABILITIES AND EQUITY $ 191,823,493 $ 173,946,065 See Notes to Condensed Financial Information of Registrant PRUCO LIFE INSURANCE COMPANY Schedule II Condensed Financial Information of Registrant Condensed Statements of Operations and Comprehensive Income (Loss) Years Ended December 31, 2023, 2022 and 2021 (in thousands) 2023 2022 2021 REVENUES Premiums $ 289,344 $ 231,500 $ 155,709 Policy charges and fee income 1,476,927 1,172,867 1,227,933 Net investment income 1,507,280 785,609 449,744 Asset administration fees 223,803 275,702 193,302 Other income (loss) 741,052 (649,316) 261,639 Realized investment gains (losses), net (1,039,350) 322,547 (387,409) Change in value of market risk benefits, net of related hedging gain (loss) (157,160) (558,535) (4,262,200) TOTAL REVENUES 3,041,896 1,580,374 (2,361,282) BENEFITS AND EXPENSES Policyholders’ benefits 448,286 430,184 41,931 Change in estimates of liability for future policy benefits 6,067 38,468 24,189 Interest credited to policyholders’ account balances 591,310 397,637 (194,393) Amortization of deferred policy acquisition costs 513,863 500,986 307,397 General, administrative and other expenses 1,100,663 1,099,599 (574,501) TOTAL BENEFITS AND EXPENSES 2,660,189 2,466,874 (395,377) INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE 381,707 (886,500) (1,965,905) Income tax expense (benefit) 16,915 (264,761) (485,879) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE 364,792 (621,739) (1,480,026) Equity in earnings of subsidiaries 96,844 (69,829) 84,623 Equity in earnings of operating joint venture, net of taxes (433) (75,137) 702 NET INCOME (LOSS) $ 461,203 $ (766,705) $ (1,394,701) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) 632,819 (1,877,552) (143,225) Interest rate remeasurement of future policy benefits (50,679) 250,486 23,870 Gain (loss) from changes in non-performance risk on market risk benefits (597,083) 1,298,259 (395,563) Other (11,539) (183,909) (97,417) Total (26,482) (512,716) (612,335) Less: Income tax expense (benefit) related to other comprehensive income (loss) (5,627) (106,197) (128,241) Other comprehensive income (loss), net of taxes (20,855) (406,519) (484,094) Total comprehensive income (loss) $ 440,348 $ (1,173,224) $ (1,878,795) See Notes to Condensed Financial Information of Registrant PRUCO LIFE INSURANCE COMPANY Schedule II Condensed Financial Information of Registrant Condensed Statements of Cash Flows Years Ended December 31, 2023, 2022 and 2021 (in thousands) 2023 2022 2021 Net cash flows from (used in) operating activities $ 2,365,722 $ 1,813,780 $ (1,014,479) CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from the sale/maturity/prepayment of: Fixed maturities, available-for-sale 1,622,501 1,586,432 1,150,169 Fixed maturities, trading 95,872 901,690 914,082 Equity securities 189,210 242,247 100,151 Policy loans 152,275 140,937 144,925 Ceded policy loans (117,589) (110,477) (11,560) Short-term investments 444,983 622,072 221,613 Commercial mortgage and other loans 157,116 178,564 258,743 Other invested assets 17,405 57,335 296,278 Payments for the purchase/origination of: Fixed maturities, available-for-sale (6,762,400) (6,674,455) (2,278,457) Fixed maturities, trading (857,717) (425,267) (97,523) Equity securities (678,790) (281,502) (98,122) Policy loans (236,886) (122,982) (104,528) Ceded policy loans 147,961 69,369 10,391 Short-term investments (679,224) (551,161) (307,596) Commercial mortgage and other loans (1,239,173) (1,024,697) (561,310) Other invested assets (174,680) (149,837) (125,329) Capital contributions to subsidiaries (323,909) (325,000) (100,000) Other, net (56,531) (316,170) (68,135) Cash flows from (used in) investing activities (8,299,576) (6,182,902) (656,208) CASH FLOWS FROM FINANCING ACTIVITIES: Policyholders’ account deposits 10,508,549 9,500,054 5,130,649 Ceded policyholders’ account deposits (870,031) (902,233) (817,978) Policyholders’ account withdrawals (3,287,164) (3,343,369) (3,413,219) Ceded policyholders’ account withdrawals 360,211 398,101 78,517 Contributed / (return of) capital (995,000) 0 776,657 Other, net 28,817 75,814 340,224 Cash flows from (used in) financing activities 5,745,382 5,728,367 2,094,850 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (188,472) 1,359,245 424,163 CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 2,141,860 782,615 358,452 CASH AND CASH EQUIVALENTS, END OF YEAR $ 1,953,388 $ 2,141,860 $ 782,615 SUPPLEMENTAL CASH FLOW INFORMATION Income taxes paid (refund) $ 57,749 $ 61,613 $ 384,472 Interest paid $ 4,377 $ 7,863 $ 6,323 Significant Non-Cash Transactions Refer to the Consolidated Statements of Cash Flows included in Part II, Item 8 of this Annual Report on Form 10-K as the items listed were related to Pruco Life Insurance Company. See Notes to Condensed Financial Information of Registrant PRUCO LIFE INSURANCE COMPANY Schedule II Condensed Financial Information of Registrant Notes to Condensed Financial Information of Registrant 1. ORGANIZATION AND PRESENTATION Pruco Life Insurance Company, (“Pruco Life”) is a wholly-owned subsidiary of The Prudential Insurance Company of America, which in turn is a direct wholly-owned subsidiary of Prudential Financial, Inc. 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. The condensed financial information of Pruco Life should be read in conjunction with the consolidated financial statements of Pruco Life and its subsidiaries and the notes thereto (the “Consolidated Financial Statements”). The condensed financial statements of Pruco Life reflect its direct wholly-owned subsidiary and majority-owned subsidiaries using the equity method of accounting.

Significant Accounting Polici_2

Significant Accounting Policies and Pronouncements (Policies)	12 Months Ended
	Dec. 31, 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 and 2021 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 Consolidated Financial Statements. The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Consolidated Financial Statements include the accounts of Pruco Life and entities over which the Company exercises control, including majority-owned subsidiaries. Intercompany balances and transactions have been eliminated.
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. 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. Annual Assumptions Review Annually, the Company performs a comprehensive review of the assumptions set for purposes of estimating future premiums, benefits, and other cash flows. Assumptions include those that are economic and those that are insurance related. Insurance related assumptions are based on the Company’s best estimates of future rates of mortality, morbidity, lapse, surrender, annuitization, expenses and other items. The Company generally looks to relevant Company experience as the primary basis for these assumptions. If relevant Company experience is not available or does not have sufficient credibility, the Company may look to experience of similar blocks of business, either in the Company or the industry. Mortality rate assumptions are generally based on Company experience, sometimes blending Company experience with an industry table where the Company experience alone is not sufficiently credible. The Company sets mortality and morbidity assumptions that vary by major type of business. Within type of business, rates vary by age and gender. The Company applies an adjustment for future mortality improvement, consistent with observed long-term trends of population mortality over time. Lapse and surrender assumptions are based on Company and industry experience, where available. The Company sets rates that vary by product type, taking into account features specific to the product. As part of this review, the Company may update these assumptions and make refinements to its models based upon emerging experience, future expectations and other data, including any observable market data it feels is indicative of a long-term trend. These assumptions are generally updated annually, unless a material change is observed in an interim period that the Company feels is also 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, it expects such changes to be gradual over the long-term. The Company also performs a comprehensive review of the economic assumptions, including long-term interest rate assumptions and equity return assumptions that impact reserve calculations. The Company generally utilizes relevant economic outlook information and industry surveys as the primary basis for these assumptions, which may be used to project future rates of return on investments.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified for reasons unrelated to the adoption of ASU 2018-12 to conform to the current period presentation.
Investments and Investment-Related Liabilities	Fixed maturities, available-for-sale, at fair value ("AFS debt securities") includes bonds, notes and redeemable preferred stock that are carried at fair value. See Note 5 for additional information regarding the determination of fair value. The purchased cost of fixed maturities is adjusted for amortization of premiums and accretion of discounts to maturity or, if applicable, call date. AFS debt securities, where fair value is below amortized cost, are reviewed quarterly to determine whether the amortized cost basis of the security is recoverable. For mortgage-backed and asset-backed AFS debt securities, a credit impairment will be recognized in earnings as an allowance for credit losses and reported in “Realized investment gains (losses), net,” to the extent the amortized cost exceeds the net present value of projected future cash flows (the “net present value”) for the security. However, the credit impairment recorded cannot exceed the difference between the amortized cost and fair value of the respective security. The net present value used to measure a credit impairment is calculated by discounting the Company’s best estimate of projected future cash flows at the effective interest rate implicit in the AFS debt security at the date of acquisition. Once the Company has deemed all or a portion of the amortized cost uncollectible, the allowance is removed from the balance sheet by writing down the amortized cost basis of the AFS debt security. Any amount of an AFS debt security’s change in fair value not recorded as an allowance for credit losses will be recorded in Other Comprehensive Income (loss) (“OCI”). For all other AFS debt securities, qualitative factors are first considered including, but not limited to, the extent of the decline and the reasons for the decline in value (e.g., credit events, currency or interest-rate related, including general credit spread widening), and the financial condition of the issuer. If analysis of these qualitative factors results in the security needing to be impaired, a credit impairment will be recognized and measured using the same process for mortgage-backed and asset-backed AFS debt securities. When an AFS debt security's fair value is below amortized cost and the Company has the intent to sell the AFS debt security, or it is more likely than not the Company will be required to sell the AFS debt security before its anticipated recovery, the amortized cost basis of the AFS debt security is written down to fair value and any previously recognized allowance is reversed. The write-down is reported in "Realized investment gains (losses), net". Interest income, including amortization of premium and accretion of discount, are included in “Net investment income” under the effective yield method. Prepayment premiums are also included in “Net investment income”. For high credit quality mortgage-backed and asset-backed AFS debt securities (those rated AA or above), the amortized cost and effective yield of the securities are adjusted as necessary to reflect historical prepayment experience and changes in estimated future prepayments. The adjustments to amortized cost are recorded as a charge or credit to “Net investment income” in accordance with the retrospective method. For mortgage-backed and asset-backed AFS debt securities rated below AA, the effective yield is adjusted prospectively for any changes in the estimated timing and amount of cash flows unless the investment is purchased with credit deterioration or an allowance is currently recorded for the respective security. If an investment is impaired, any changes in the estimated timing and amount of cash flows will be recorded as the credit impairment, as opposed to a yield adjustment. If the asset is purchased with credit deterioration (or previously impaired), the effective yield will be adjusted if there are favorable changes in cash flows subsequent to the allowance being reduced to zero. For mortgage-backed and asset-backed AFS debt securities, cash flow estimates consider the payment terms of the underlying assets backing a particular security, including interest rate and prepayment assumptions based on data from widely accepted third-party data sources or internal estimates. In addition to interest rate and prepayment assumptions, cash flow estimates also include other assumptions regarding the underlying collateral including default rates and recoveries, which vary based on the asset type and geographic location, as well as the vintage year of the security. These assumptions can significantly impact income recognition, unrealized gains and loss recorded in OCI, and the amount of impairment recognized in earnings. The payment priority of the respective security is also considered. For all other AFS debt securities, cash flow estimates are driven by assumptions regarding probability of default and estimates regarding timing and amount of recoveries associated with a default. The Company has developed these estimates using information based on its historical experience as well as using market observable data, such as industry analyst reports and forecasts, sector credit ratings and other data relevant to the collectability of a security, such as the general payment terms of the security and the security’s position within the capital structure of the issuer. Fixed maturities, trading, at fair value ("Trading debt securities") includes debt securities that are carried at fair value. See Note 5 for additional information regarding the determination of fair value. Realized and unrealized gains and losses for these investments are reported in “Other income (loss),” and interest income from these investments is reported in “Net investment income”. Equity securities, at fair value consists of common stock and mutual fund shares carried at fair value. Realized and unrealized gains and losses on these investments are reported in “Other income (loss),” and dividend income is reported in “Net investment income” on the ex-dividend date. Policy loans represents funds loaned to policyholders up to the cash surrender value of the associated insurance policies and are carried at the unpaid principal balances due to the Company from the policyholders. Interest income on policy loans is recognized in “Net investment income” at the contract interest rate when earned. Policy loans are fully collateralized by the cash surrender value of the associated insurance policies. Short-term investments primarily consists of highly liquid debt instruments with a maturity of twelve months or less and greater than three months when purchased. These investments are generally carried at fair value or amortized cost that approximates fair value and include certain money market investments, funds managed similar to regulated money market funds, short-term debt securities issued by government sponsored entities and other highly liquid debt instruments. Commercial mortgage and other loans consist of commercial mortgage loans and agricultural property loans. Commercial mortgage and other loans held for investment are generally carried at unpaid principal balance, net of unamortized deferred loan origination fees and expenses and net of any current expected credit loss ("CECL") allowance. Certain off-balance sheet credit exposures (e.g., indemnification of serviced mortgage loans, and certain unfunded mortgage loan commitments where the Company cannot unconditionally cancel the commitment) are also subject to a CECL allowance. See Note 16 for additional information. Commercial mortgage and other loans acquired, including those related to the acquisition of a business, are recorded at fair value when purchased, reflecting any premiums or discounts to unpaid principal balances. Interest income, and the amortization of the related premiums or discounts, are included in “Net investment income” under the effective yield method. Prepayment fees are also included in “Net investment income.” The CECL allowance represents the Company’s best estimate of expected credit losses over the remaining life of the assets or off-balance sheet credit exposures. The determination of the allowance considers historical credit loss experience, current conditions, and reasonable and supportable forecasts. The allowance is calculated separately for commercial mortgage loans, agricultural mortgage loans, other collateralized and uncollateralized loans. For commercial mortgage and agricultural mortgage loans, the allowance is calculated using an internally developed CECL model that pools together loans that share similar risk characteristics. Similar risk characteristics used to create the pools include, but are not limited to, vintage, maturity, credit rating, and collateral type. Key inputs to the CECL model include unpaid principal balances, internal credit ratings, annual expected loss factors, average lives of the loans adjusted for prepayment considerations, current and historical interest rate assumptions, and other factors influencing the Company’s view of the current stage of the economic cycle and future economic conditions. Subjective considerations include a review of whether historical loss experience is representative of current market conditions and the Company’s view of the credit cycle. Model assumptions and factors are reviewed and updated as appropriate. Information about certain key inputs is detailed below. Key factors in determining the internal credit ratings for commercial mortgage and agricultural mortgage loans include loan-to-value and debt-service-coverage ratios. Other factors include amortization, loan term, and estimated market value growth rate and volatility for the property type and region. The loan-to-value ratio compares the carrying amount of the loan to the fair value of the underlying property or properties collateralizing the loan, and is commonly expressed as a percentage. Loan-to-value ratios greater than 100% indicate that the carrying amount of the loan exceeds the collateral value. A loan-to-value ratio less than 100% indicates an excess of collateral value over the carrying amount of the loan. The debt service coverage ratio is a property’s net operating income as a percentage of its debt service payments. Debt service coverage ratios less than 1.0 indicates that property operations do not generate enough income to cover the loan’s current debt payments. A debt service coverage ratio greater than 1.0 indicates an excess of net operating income over the debt service payments. The values utilized in calculating these ratios are developed as part of the Company’s periodic review of the commercial mortgage loan and agricultural property loan portfolios, which includes an internal appraisal of the underlying collateral value. The Company’s periodic review also includes a quality re-rating process, whereby the internal quality rating originally assigned at underwriting is updated based on current loan, property and market information using a proprietary quality rating system. See Note 3 for additional information related to the loan-to-value ratios and debt service coverage ratios related to the Company’s commercial mortgage and agricultural loan portfolios. Annual expected loss rates are based on historical default and loss experience factors. Using average lives, the annual expected loss rates are converted into life-of-loan loss expectations. When individual loans no longer have the credit risk characteristics of the commercial or agricultural mortgage loan pools, they are removed from the pools and are evaluated individually for an allowance. The allowance is determined based on the outstanding loan balance less the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. The CECL allowance on commercial mortgage and other loans can increase or decrease from period to period based on the factors noted above. The change in allowance is reported in “Realized investment gains (losses), net”. As it relates to unfunded commitments that are in scope of this guidance, the CECL allowance is reported in “Other liabilities”, and the change in the allowance is reported in “Realized investment gains (losses), net”. The CECL allowance for other collateralized and uncollateralized loans (e.g., corporate loans) carried at amortized cost is determined based on probability of default and loss given default assumptions by sector, credit quality and average lives of the loans. Additions to or releases of the allowance are reported in “Realized investment gains (losses), net.” Once the Company has deemed a portion of the amortized cost to be uncollectible, the uncollectible portion of allowance is removed from the balance sheet by writing down the amortized cost basis of the loan. The carrying amount of the loan is not adjusted for subsequent recoveries in value. Interest received on loans that are past due is either applied against the principal or reported as net investment income based on the Company’s assessment as to the collectability of the principal. The Company defines “past due” as principal or interest not collected at least 30 days past the scheduled contractual due date. See Note 3 for additional information about the Company’s past due loans. The Company discontinues accruing interest on loans after the loans become 90 days delinquent as to principal or interest payments, or earlier when the Company has doubts about collectability. When the Company discontinues accruing interest on a loan, any accrued but uncollectible interest on the loan and other loans backed by the same collateral, if any, is charged against interest income in the same period. Generally, a loan is restored to accrual status only after all delinquent interest and principal are brought current and, in the case of loans where the payment of interest has been interrupted for a substantial period, or the loan has been modified, a regular payment performance has been established. Commercial mortgage and other loans are occasionally restructured. These restructurings generally include one or more of the following: full or partial payoffs outside of the original contract terms; changes to interest rates; extensions of maturity; or additions or modifications to covenants. Additionally, the Company may accept assets in full or partial satisfaction of the debt. Effective January 1, 2023, the Company adopted ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosure , on a prospective basis. This ASU eliminates the accounting guidance for Troubled Debt Restructurings (“TDR”) for creditors and requires all loan restructurings to follow the modification guidance in ASC 310-20. Prior to the adoption of ASU 2022-02, when restructurings occurred, they were evaluated individually to determine whether the restructuring or modification constituted a TDR as defined by authoritative accounting guidance. If the borrower was experiencing financial difficulty and the Company granted a concession, the restructuring, including those that involved a partial payoff or the receipt of assets in full satisfaction of the debt was deemed to be a TDR. 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. Post adoption of ASU 2022-02, all restructurings are evaluated under the modification guidance in ASC 310-20. When a loan is modified, the Company evaluates whether the restructuring results in a continuation of the existing loan or a new loan. For modifications that result in a continuation of the existing loan, the CECL allowance of the loan is remeasured using the modified terms, including the loan’s post-modification effective yield, and the allowance is adjusted accordingly. For modifications that result in a new loan, any CECL allowance is reversed and a direct write-down of the loan is recorded for the amount of the allowance, and any additional loss, net of recoveries, or any gain is recorded for the difference between the fair value of the new loan and the recorded investment in the loan. The new loan is evaluated prospectively for credit impairment based on the CECL allowance process noted above. Other invested assets consist of the Company’s non-coupon investments in limited partnerships and limited liability companies ("LPs/LLCs"), other than operating joint ventures, as well as derivative assets. LPs/LLCs interests are accounted for using either the equity method of accounting, or at fair value. The Company’s income from investments in LPs/LLCs accounted for using the equity method, other than the Company’s investments in operating joint ventures, is included in “Net investment income”. 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. In applying the equity method (including assessment for OTTI), the Company uses financial information provided by the investee, generally on a one to three-month lag. For the investments reported at fair value with changes in fair value reported in current earnings, the associated realized and unrealized gains and losses are reported in “Other income (loss)”. Realized investment gains (losses) are computed using the specific identification method. Realized investment gains and losses are generated from numerous sources, including the sales of fixed maturity securities, investments in joint ventures and limited partnerships and other types of investments, as well as changes to the allowance for credit losses recognized in earnings. Realized investment gains and losses also reflect fair value changes on commercial mortgage loans carried at fair value, and fair value changes on embedded derivatives and free-standing derivatives that do not qualify for hedge accounting treatment. See “Derivative Financial Instruments” below for additional information regarding the accounting for derivatives. Realized investment gains (losses), net includes realized gains or losses from sales and maturities of investments, changes to the allowance for credit losses, other impairments, fair value changes on mortgage loans where the fair value option has been elected, releases of Other Comprehensive Income and derivative gains or losses. The derivative gains or losses include the impact of maturities, terminations and changes in fair value of the derivative instruments, including embedded derivatives, and other hedging instruments.
Cash and cash equivalents	Cash and cash equivalents includes cash on hand, amounts due from banks, certain money market investments, funds managed similar to regulated money market funds, other debt instruments with maturities of three months or less when purchased, other than cash equivalents that are included in "Fixed maturities, available-for-sale, at fair value,” and receivables related to securities purchased under agreements to resell (see also "Securities sold under agreements to purchase" below.) The Company also engages in overnight borrowing and lending of funds with Prudential Financial and affiliates which are considered cash and cash equivalents. These assets are generally carried at fair value or amortized cost which approximates fair value.
Deferred policy acquisition costs	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”. Upon the adoption of ASU 2018-12, the carrying amount of DAC for long-duration contracts is no longer subject to recoverability testing. DAC for most long-duration contracts 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.
Accrued investment income	Accrued investment income primarily includes accruals of interest and dividend income from investments that have been earned but not yet received.
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. For reinsurance of limited-payment contracts, the Company establishes a cost of reinsurance asset relating to the direct DPL and amortizes this balance through “Premiums” using the same methodology and assumptions used to amortize the direct DPL. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference between the fair value of the net consideration exchanged and the net liabilities ceded related to the underlying reinsured contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. This initial net cost of reinsurance is deferred and amortized into income over the remaining life of the reinsured policies on a basis consistent with the methodologies and assumptions used for amortizing DAC. This initial net cost of reinsurance may result in a deferred reinsurance gain which is recorded in "Other liabilities" and amortized through "Other income (loss)", or a deferred reinsurance loss which is recorded in "Other assets" and amortized through "General, administrative and other expenses". 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)". Coinsurance arrangements contrast with the Company’s yearly renewable term ("YRT") 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 YRT 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 YRT 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 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 benefits. 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 gain (loss)", 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.
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.
Income taxes receivable	Income tax assets primarily represents the net deferred tax asset and the Company’s estimated taxes receivable for the current year and open audit years. The Company is a member of the federal income tax return of Prudential Financial and primarily files separate company state and local tax returns. Pursuant to the tax allocation arrangement with Prudential Financial, total federal income tax expense is determined on a separate company basis. Members record tax benefits to the extent tax losses or tax credits are recognized in the consolidated federal tax provision. Items required by tax regulations to be included in the tax return may differ from the items reflected in the financial statements. As a result, the effective tax rate reflected in the financial statements may be different than the actual rate applied on the tax return. Some of these differences are permanent such as expenses that are not deductible in the Company’s tax return, and some differences are temporary, reversing over time, such as valuation of insurance reserves. Temporary differences create deferred tax assets and liabilities. Deferred tax assets generally represent items that can be used as a tax deduction or credit in future years for which the Company has already recorded the tax benefit in the Company’s Consolidated Statements of Operations. Deferred tax liabilities generally represent tax expense recognized in the Company’s financial statements for which payment has been deferred, or expenditures for which the Company has already taken a deduction in the Company’s tax return but have not yet been recognized in the Company’s financial statements. Deferred income taxes are recognized, based on enacted rates, when assets and liabilities have different values for financial statement and tax reporting purposes. The application of U.S. GAAP requires the Company to evaluate the recoverability of the Company’s deferred tax assets and establish a valuation allowance if necessary to reduce the Company’s deferred tax assets to an amount that is more likely than not expected to be realized. Considerable judgment is required in determining whether a valuation allowance is necessary, and if so, the amount of such valuation allowance. See Note 12 for a discussion of factors considered when evaluating the need for a valuation allowance. U.S. GAAP prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that a company has taken or expects to take on tax returns. The application of this guidance is a two-step process. First, the Company determines whether it is more likely than not, based on the technical merits, that the tax position will be sustained upon examination. If a tax position does not meet the more likely than not recognition threshold, the benefit of that position is not recognized in the financial statements. The second step is measurement. The Company measures the tax position as the largest amount of benefit that is greater than 50 percent likely to be realized upon ultimate resolution with a taxing authority that has full knowledge of all relevant information. This measurement considers the amounts and probabilities of the outcomes that could be realized upon ultimate settlement using the facts, circumstances, and information available at the reporting date. The Company’s liability for income taxes includes a liability for unrecognized tax benefits, interest and penalties which relate to tax years still subject to review by the Internal Revenue Service ("IRS") or other taxing jurisdictions. Audit periods remain open for review until the statute of limitations has passed. Generally, for tax years which produce net operating losses, capital losses or tax credit carryforwards (“tax attributes”), the statute of limitations does not close, to the extent of these tax attributes, until the expiration of the statute of limitations for the tax year in which they are fully utilized. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the liability for income taxes. The Company classifies all interest and penalties related to tax uncertainties as income tax expense. See Note 12 for additional information regarding income taxes.
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".
Separate account assets and Separate account liabilities	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. 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 primarily consists 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 in the second quarter of each year for future cash flow assumption updates during the Company’s annual assumptions review process 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 on or 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). Any adjustments to this liability related to net unrealized gains (losses) on securities classified as available-for-sale are included in AOCI. 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	Policyholders’ account balances
Cash collateral for loaned securities	Cash collateral for loaned securities represents liabilities to return cash proceeds from security lending transactions. Securities lending transactions are used primarily to earn spread income or to facilitate trading activity. As part of securities lending transactions, the Company transfers U.S. and foreign debt and equity securities, as well as U.S. government and government agency securities, and receives cash as collateral. Cash proceeds from securities lending transactions are primarily used to earn spread income, and are typically invested in cash equivalents, short-term investments or fixed maturities. Securities lending transactions are treated as financing arrangements and are recorded at the amount of cash received. The Company obtains collateral in an amount equal to 102% and 105% of the fair value of the domestic and foreign securities, respectively. The Company monitors the market value of the securities loaned on a daily basis with additional collateral obtained as necessary. Substantially all of the Company’s securities lending transactions are with large brokerage firms and large banks. Income and expenses associated with securities lending transactions used to earn spread income are reported as "Net investment income".
Securities sold under agreements to repurchase	Securities sold under agreements to repurchase represents liabilities associated with securities repurchase agreements that are used primarily to earn spread income. As part of securities repurchase agreements, the Company transfers U.S. government and government agency securities to a third-party, and receives cash as collateral. For securities repurchase agreements, the cash received is typically invested in cash equivalents, short-term investments or fixed maturities. Receivables associated with securities purchased under agreements to resell are generally reflected as cash equivalents. As part of securities resale agreements, the Company invests cash and receives as collateral U.S. government securities or other debt securities. Securities repurchase and resale agreements that satisfy certain criteria are treated as secured borrowing or secured lending arrangements. These agreements are carried at the amounts at which the securities will be subsequently resold or reacquired, as specified in the respective transactions. For securities purchased under agreements to resell, the Company’s policy is to take possession or control of the securities either directly or through a third-party custodian. These securities are valued daily, and additional securities or cash collateral is received, or returned, when appropriate to protect against credit exposure. Securities to be resold are the same, or substantially the same, as the securities received. The majority of these transactions are with large brokerage firms and large banks. For securities sold under agreements to repurchase, the market value of the securities to be repurchased is monitored, and additional collateral is obtained where appropriate, to protect against credit exposure. The Company obtains collateral in an amount at least equal to 95% of the fair value of the securities sold. Securities to be repurchased are the same, or substantially the same, as those sold. The majority of these transactions are with highly rated money market funds. Income and expenses related to these transactions executed within the insurance companies used to earn spread income are reported as “Net investment income.”
Short-term and long-term debt	Short-term and long-term debt liabilities are primarily carried at an amount equal to unpaid principal balance, net of unamortized discount or premium and debt issuance costs. Original-issue discount or premium and debt-issue costs are recognized as a component of interest expense over the period the debt is expected to be outstanding, using the interest method of amortization. Interest expense is generally presented within “General, administrative and other expenses” in the Company’s Consolidated Statements of Operations. Short-term debt is debt coming due in the next twelve months, including that portion of debt otherwise classified as long-term. The short-term debt caption may exclude short-term debt items for which the Company has the intent and ability to refinance on a long-term basis in the near term. See Note 15 for additional information regarding short-term and long-term debt.
Commitments and contingent liabilities	Commitments and contingent liabilities are accrued if it is probable that a liability has been incurred and an amount is reasonably estimable. Management evaluates whether there are incremental legal or other costs directly associated with the ultimate resolution of the matter that are reasonably estimable and, if so, they are included in the accrual. These accruals are generally reported in “Other liabilities”.
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.
Asset administration fees	Asset administration fees
Other income	Other income (loss) includes realized and unrealized gains or losses from investments reported as “Fixed maturities, trading, at fair value”, “Equity securities, at fair value”, and “Other invested assets” that are measured at fair value.
Derivative Financial Instruments	Derivative Financial Instruments Derivatives are financial instruments whose values are derived from interest rates, foreign exchange rates, financial indices, values of securities or commodities, credit spreads, market volatility, expected returns, and liquidity. Values can also be affected by changes in estimates and assumptions, including those related to counterparty behavior and NPR used in valuation models. Derivative financial instruments generally used by the Company include swaps, futures, forwards and options and may be exchange-traded or contracted in the over-the-counter (“OTC”) market. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties, while others are bilateral contracts between two counterparties. Derivative positions are carried at fair value, generally by obtaining quoted market prices or through the use of valuation models. Derivatives are used to manage the interest rate and currency characteristics of assets or liabilities. Additionally, derivatives may be used to reduce exposure to risks such as interest rate, credit, foreign currency and equity associated with assets held or expected to be purchased or sold, and liabilities incurred or expected to be incurred. As discussed in detail below and in Note 4, all realized and unrealized changes in fair value of derivatives are recorded in current earnings, with the exception of cash flow hedges. Cash flows from derivatives are reported in the operating, investing or financing activities sections in the Consolidated Statements of Cash Flows based on the nature and purpose of the derivative. Derivatives are recorded either as assets, within “Other invested assets”, or as liabilities, within “Payables to parent and affiliates”, except for embedded derivatives which are recorded with the associated host contract. The Company nets the fair value of all derivative financial instruments with counterparties for which a master netting arrangement has been executed. The Company designates derivatives as either (1) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow” hedge); or (2) a derivative that does not qualify for hedge accounting. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the designated risk of the hedged item. Effectiveness of the hedge is formally assessed at inception and throughout the life of the hedging relationship. The Company formally documents at inception all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. When a derivative is designated as a cash flow hedge and is determined to be highly effective, changes in its fair value are recorded in AOCI until earnings are affected by the variability of cash flows being hedged (e.g., when periodic settlements on a variable-rate asset or liability are recorded in earnings). At that time, the related portion of deferred gains or losses on the derivative instrument is reclassified and reported in the Consolidated Statements of Operations line item associated with the hedged item. If it is determined that a derivative no longer qualifies as an effective cash flow hedge or management removes the hedge designation, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net”. The component of AOCI related to discontinued cash flow hedges is reclassified to the Consolidated Statements of Operations line associated with the hedged cash flows consistent with the earnings impact of the original hedged cash flows. When hedge accounting is discontinued because the hedged item no longer meets the definition of a firm commitment, or because it is probable that the forecasted transaction will not occur by the end of the specified time period, the derivative will continue to be carried on the balance sheet at its fair value, with changes in fair value recognized currently in “Realized investment gains (losses), net”. Any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the balance sheet and recognized currently in “Realized investment gains (losses), net”. Gains and losses that were in AOCI pursuant to the hedge of a forecasted transaction are recognized immediately in “Realized investment gains (losses), net”. If a derivative does not qualify for hedge accounting, all changes in its fair value, including net receipts and payments, are included in “Realized investment gains (losses), net” without considering changes in the fair value of the economically associated assets or liabilities. The Company is a party to financial instruments that contain derivative instruments that are “embedded” in the financial instruments. At inception, the Company assesses whether the economic characteristics of the embedded instrument are clearly and closely related to the economic characteristics of the remaining component of the financial instrument (i.e., the host contract) and whether a separate instrument with the same terms as the embedded instrument would meet the definition of a derivative instrument. When it is determined that (1) the embedded instrument possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract, and (2) a separate instrument with the same terms would qualify as a derivative instrument, the embedded instrument qualifies as an embedded derivative that is separated from the host contract, carried at fair value, and changes in its fair value are included in “Realized investment gains (losses), net”. For certain financial instruments that contain an embedded derivative that otherwise would need to be bifurcated and reported at fair value, the Company may elect to carry the entire instrument at fair value and report it within "Other invested assets", or as liabilities, within “Payables to parent and affiliates” or "Other liabilities". The Company sells variable annuity contracts that include optional living benefit features that may be treated from an accounting perspective as embedded derivatives. Effective April 1, 2016, the Company reinsured the variable annuity base contracts, along with the living benefit guarantees, to PALAC, excluding the PLNJ business, which was reinsured to Prudential Insurance, in each case under a coinsurance and modified coinsurance agreement. Effective July 1, 2021, the Company recaptured the risks related to its variable annuity base contracts, along with the living benefit guarantees, that had previously been reinsured to PALAC from April 1, 2016 through June 30, 2021. See Note 11 for additional information. The embedded derivatives related to the living benefit features and the related reinsurance agreements are carried at fair value and included in “Future policy benefits" and “Reinsurance recoverables”. Additionally, changes in the fair value are determined using valuation models as described in Note 5 and are recorded in “Realized investment gains (losses), net".
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. The narrative description of the Company's significant accounting policies at the beginning of this Note reflects its policies as of December 31, 2023, including the policies associated with the adoption of ASU 2018-12. Outlined below are the key accounting policy changes effected by the ASU. 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. Area of Change Description Method of adoption Effect on the financial statements or other significant matters 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 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. Amortization of deferred acquisition costs and other balances Requires DAC and other balances, such as URR and 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 choose to apply this accounting policy election to any of its eligible sale or disposal transactions. Other ASUs adopted as of December 31, 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 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. The narrative description of the Company's significant accounting policies at the beginning of this Note reflects its policies as of December 31, 2023, including the policies associated with the adoption of ASU 2022-02. Adoption of the ASU did not have a significant impact on the Company’s Consolidated Financial Statements and Notes to the Consolidated Financial Statements.
Future Adoption Of New Accounting Pronouncements	ASUs issued but not yet adopted as of December 31, 2023 Standard Description Effective date and method of adoption Effect on the financial statements or other significant matters ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU requires entities, including those with a single operating or reportable segment, to provide more detailed information about significant segment expenses that are regularly provided to the chief operating decision maker. The ASU also clarifies that all of the disclosures required in the guidance apply to all public entities, including those with a single operating or reportable segment. Effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted, using the retrospective method. The Company is currently assessing the impact of the ASU on the Company's Consolidated Financial Statements and Notes to the Consolidated Financial Statements.

Business and Basis of Present_2

Business and Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effects of Reinsurance	Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Direct(1) $ 1,853,184 $ 1,868,709 $ 1,903,865 Assumed (61) 776 162 Ceded(1) (1,524,226) (1,604,277) (1,719,569) Net premiums(1) 328,897 265,208 184,458 Policy charges and fee income: Direct(1) 2,995,595 3,034,193 3,348,259 Assumed(1) 604,311 594,622 565,814 Ceded(1) (2,063,300) (2,398,214) (2,613,978) Net policy charges and fee income(1) 1,536,606 1,230,601 1,300,095 Net investment income: Direct 1,700,684 920,674 555,404 Assumed 1,364 1,513 1,049 Ceded (26,526) (38,186) (6,218) Net investment income(2) 1,675,522 884,001 550,235 Asset administration fees: Direct 323,444 351,600 403,359 Assumed 0 0 0 Ceded (90,494) (67,418) (201,182) Net asset administration fees 232,950 284,182 202,177 Other income (loss): Direct 636,930 (731,796) 227,035 Assumed (475) 271 (66) Ceded(1) 108,173 80,056 35,451 Net other income(1)(2) 744,628 (651,469) 262,420 2023 2022 2021 Realized investment gains (losses), net: Direct(1) (1,195,753) 497,016 (388,914) Assumed(1) 162,291 (244,000) 12,592 Ceded(1) (50,198) 83,366 (10,572) Realized investment gains (losses), net(1)(2) (1,083,660) 336,382 (386,894) Change in value of market risk benefits, net of related hedging gain (loss): Direct(1) 298,425 (181,260) 9,096,963 Assumed (2,199) 0 0 Ceded(1) (390,594) (519,321) (13,319,493) Net change in value of market risk benefits, net of related hedging gain (loss)(1) (94,368) (700,581) (4,222,530) Policyholders’ benefits (including change in reserves): Direct(1) 3,354,306 3,362,353 3,215,531 Assumed(1) 1,258,651 1,107,436 905,325 Ceded(1) (4,109,168) (4,011,416) (4,038,146) Net policyholders’ benefits (including change in reserves)(1)(2) 503,789 458,373 82,710 Change in estimates of liability for future policy benefits: Direct(1) (18,361) 1,716,983 99,202 Assumed(1) 8,644 679,863 (16,166) Ceded(1) 13,669 (2,341,747) (56,028) Net change in estimates of liability for future policy benefits(1) 3,952 55,099 27,008 Interest credited to policyholders’ account balances: Direct(1) 918,327 805,411 525,038 Assumed 136,725 74,402 138,202 Ceded(1) (399,607) (434,598) (814,629) Net interest credited to policyholders’ account balances(1) 655,445 445,215 (151,389) Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(1) (399,870) (150,374) (2,195,677) (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting. Unaffiliated reinsurance assumed and ceded amounts included in the table above and in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Assumed(1) $ (69) $ 149 $ 162 Ceded(1) (70,169) (42,721) (26,143) Policy charges and fee income: Assumed 1,563 2,113 0 Ceded (143,764) (81,781) (65,451) Net investment income(2): Ceded 23,023 10,802 687 Asset administration fees: Ceded (22,415) 0 0 Other income (loss)(2): Assumed (211) 270 (68) Ceded(1) 37,526 3,243 0 Realized investment gains (losses), net(2): Assumed(1) 162,291 778,620 0 Ceded(1) (45,711) 82,386 80,540 Change in value of market risk benefits, net of related hedging gain (loss): Assumed(1) (2,199) 0 0 Ceded(1) (186,996) (120,663) (130,654) Policyholders' benefits (including change in reserves)(2): Assumed 804 2,566 429 Ceded(1) (157,344) (94,402) (186,927) Change in estimates of liability for future policy benefits: Ceded(1) (1,367) (6,824) 0 Interest credited to policyholders' account balances: Assumed 16,243 (95,285) 0 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting.
Deferred Policy Acquisition Costs	The following table shows a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, January 1, 2021 $ 0 $ 0 $ 462,099 $ 2,030,983 $ 2,493,082 Capitalization 576 32,590 168,760 653,864 855,790 Amortization expense (1,008) (146,952) (53,775) (123,860) (325,595) Other(1) 84,913 3,921,094 0 24 4,006,031 Balance, December 31, 2021 84,481 3,806,732 577,084 2,561,011 7,029,308 Capitalization 31,494 270,864 127,541 532,678 962,577 Amortization expense (13,724) (341,142) (55,423) (109,987) (520,276) Other(2) 0 0 (365) (540,819) (541,184) Balance, December 31, 2022 102,251 3,736,454 648,837 2,442,883 6,930,425 Capitalization 117,851 241,136 159,000 576,920 1,094,907 Amortization expense (22,165) (326,444) (63,949) (121,877) (534,435) Other(3) 0 (393,385) 0 (1) (393,386) Balance, December 31, 2023 $ 197,937 $ 3,257,761 $ 743,888 $ 2,897,925 $ 7,097,511 (1) Includes the impact of the 2021 Variable Annuities Recapture as well as the assuming of DAC upon Affiliated reinsurance agreement with FLIAC within Fixed Annuities. See Note 1 and Note 11 for additional information. (2) Includes the impact of the reinsurance agreement with Lotus Re. See Note 11 for additional information. (3) Includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information.
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. Year Ended December 31, 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 (200,513) (989) (201,502) Adjusted balance, beginning of period 11,265,387 (989) 11,264,398 Issuances 712,495 36,646 749,141 Net premiums / considerations collected (1,345,514) (35,657) (1,381,171) Interest accrual 521,176 0 521,176 Balance at original discount rate, end of period 11,153,544 0 11,153,544 Effect of cumulative changes in discount rate assumptions, end of period (225,711) 0 (225,711) Balance, end of period $ 10,927,833 $ 0 $ 10,927,833 Year Ended December 31, 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 962,035 24,876 986,911 Balance at original discount rate, beginning of period 18,797,286 229,603 19,026,889 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (263,243) 6,991 (256,252) Adjusted balance, beginning of period 18,532,999 236,594 18,769,593 Issuances 712,495 36,646 749,141 Interest accrual 895,023 8,440 903,463 Benefit payments (1,386,583) (33,287) (1,419,870) Other adjustments 3,844 (84) 3,760 Balance at original discount rate, end of period 18,757,778 248,309 19,006,087 Effect of cumulative changes in discount rate assumptions, end of period (331,571) (19,521) (351,092) Balance, end of period $ 18,426,207 $ 228,788 $ 18,654,995 Other, end of period 1,765 Total balance, end of period $ 18,656,760 Year Ended December 31, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 7,498,374 $ 228,788 $ 7,727,162 Flooring impact, end of period 44 0 44 Balance, end of period, post-flooring 7,498,418 228,788 7,727,206 Less: Reinsurance recoverable 6,817,488 18,489 6,835,977 Balance after reinsurance recoverable, end of period, post-flooring $ 680,930 $ 210,299 $ 891,229 Year Ended December 31, 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 (112,661) (1,143) (113,804) Adjusted balance, beginning of period 11,841,569 (1,143) 11,840,426 Issuances 439,874 30,469 470,343 Net premiums / considerations collected (1,339,902) (29,326) (1,369,228) Interest accrual 525,149 0 525,149 Balance at original discount rate, end of period 11,466,690 0 11,466,690 Effect of cumulative changes in discount rate assumptions, end of period (554,896) 0 (554,896) Balance, end of period $ 10,911,794 $ 0 $ 10,911,794 Year Ended December 31, 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 (206,175) (1,639) (207,814) Adjusted balance, beginning of period 18,880,642 218,722 19,099,364 Issuances 439,874 30,469 470,343 Interest accrual 888,525 7,836 896,361 Benefit payments (1,416,823) (27,138) (1,443,961) Other adjustments 5,068 (286) 4,782 Balance at original discount rate, end of period 18,797,286 229,603 19,026,889 Effect of cumulative changes in discount rate assumptions, end of period (962,035) (24,876) (986,911) Balance, end of period $ 17,835,251 $ 204,727 $ 18,039,978 Other, end of period 2,127 Total balance, end of period $ 18,042,105 Year Ended December 31, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 6,923,457 $ 204,727 $ 7,128,184 Flooring impact, end of period 0 0 0 Balance, end of period, post-flooring 6,923,457 204,727 7,128,184 Less: Reinsurance recoverable 6,497,257 16,460 6,513,717 Balance after reinsurance recoverable, end of period, post-flooring $ 426,200 $ 188,267 $ 614,467 Year Ended December 31, 2021 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,791,701 $ 0 $ 12,791,701 Effect of cumulative changes in discount rate assumptions, beginning of period (2,461,823) 0 (2,461,823) Balance at original discount rate, beginning of period 10,329,878 0 10,329,878 Effect of assumption update 39,089 0 39,089 Effect of actual variances from expected experience and other activity 246,712 0 246,712 Adjusted balance, beginning of period 10,615,679 0 10,615,679 Issuances 747,703 29,700 777,403 Net premiums / considerations collected (1,193,642) (29,700) (1,223,342) Interest accrual 489,196 0 489,196 Balance at original discount rate, end of period 10,658,936 0 10,658,936 Effect of cumulative changes in discount rate assumptions, end of period 1,826,120 0 1,826,120 Balance, end of period $ 12,485,056 $ 0 $ 12,485,056 Year Ended December 31, 2021 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 21,897,943 $ 237,094 $ 22,135,037 Effect of cumulative changes in discount rate assumptions, beginning of period (4,893,834) (27,090) (4,920,924) Balance at original discount rate, beginning of period 17,004,109 210,004 17,214,113 Effect of assumption update 40,236 0 40,236 Effect of actual variances from expected experience and other activity 268,005 (1,422) 266,583 Adjusted balance, beginning of period 17,312,350 208,582 17,520,932 Issuances 747,703 29,700 777,403 Interest accrual 832,663 7,454 840,117 Benefit payments (1,566,091) (25,328) (1,591,419) Other adjustments 3,197 (47) 3,150 Balance at original discount rate, end of period 17,329,822 220,361 17,550,183 Effect of cumulative changes in discount rate assumptions, end of period 3,607,275 16,704 3,623,979 Balance, end of period $ 20,937,097 $ 237,065 $ 21,174,162 Other, end of period 2,902 Total balance, end of period $ 21,177,064 Year Ended December 31, 2021 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 8,452,041 $ 237,065 $ 8,689,106 Flooring impact, end of period 951 0 951 Balance, end of period, post-flooring 8,452,992 237,065 8,690,057 Less: Reinsurance recoverable 7,855,802 19,314 7,875,116 Balance after reinsurance recoverable, end of period, post-flooring $ 597,190 $ 217,751 $ 814,941 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: Year Ended December 31, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,871,767 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,027,611 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,748,999 $ 0 Undiscounted expected future benefits and expenses $ 29,118,532 $ 332,902 Interest accrual $ 373,845 $ 8,440 Gross premiums $ 1,804,955 $ 41,111 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) 5.17 % 3.70 % Weighted-average interest rate (at current discount rate) 4.99 % 4.95 % Year Ended December 31, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,223,836 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,322,180 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,587,657 $ 0 Undiscounted expected future benefits and expenses $ 29,330,574 $ 306,286 Interest accrual $ 363,375 $ 7,836 Gross premiums $ 1,831,360 $ 32,105 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) 5.23 % 3.60 % Weighted-average interest rate (at current discount rate) 5.39 % 5.33 % Year Ended December 31, 2021 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 24,005,621 $ 0 Discounted expected future gross premiums (at original discount rate) $ 16,246,950 $ 0 Discounted expected future gross premiums (at current discount rate) $ 19,102,730 $ 0 Undiscounted expected future benefits and expenses $ 27,127,403 $ 293,095 Interest accrual $ 343,467 $ 7,454 Gross premiums $ 1,822,261 $ 35,672 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) 11 7 Weighted-average interest rate (at original discount rate) 5.30 % 3.47 % Weighted-average interest rate (at current discount rate) 2.55 % 2.49 % For additional information regarding observable market information and the techniques used to determine the interest rate assumptions seen above, see Note 2. The balances of and changes in Deferred Profit Liability for the years ended December 31, are as follows: 2023 2022 2021 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 $ 9,959 Effect of actual variances from expected experience and other activity (6,978) 1,250 1,247 Adjusted balance, beginning of period 11,215 17,015 11,206 Profits deferred 5,191 2,511 5,823 Interest accrual 552 616 529 Amortization (2,129) (1,909) (1,793) Other adjustments (11) (40) 0 Balance, end of period 14,818 18,193 15,765 Less: Reinsurance recoverable 1,365 1,684 1,726 Balance after reinsurance recoverable $ 13,453 $ 16,509 $ 14,039 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, for the years ended December 31,: 2023 2022 2021 Fixed Annuities (in thousands) Revenue(1) $ 3,375 $ (2,428) $ (5,805) Interest accrual 552 616 529 (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 years ended December 31,: 2023 2022 2021 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 $ 10,878,087 Flooring impact and amounts in AOCI 1,269,236 (896,931) (1,169,972) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,681 10,763,596 9,708,115 Effect of assumption update 22,910 2,197,592 (1,243) Effect of actual variances from expected experience and other activity 34,021 (223,185) 53,125 Adjusted balance, beginning of period 13,990,612 12,738,003 9,759,997 Assessments collected(1) 929,709 961,924 848,263 Interest accrual 486,253 433,631 344,789 Benefits paid (294,199) (199,877) (189,453) Balance, excluding amounts in AOCI, end of period, pre-flooring 15,112,375 13,933,681 10,763,596 Flooring impact and amounts in AOCI (831,583) (1,269,236) 896,931 Balance, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Less: Reinsurance recoverable 14,054,600 12,458,184 11,419,340 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 226,192 $ 206,261 $ 241,187 (1) Represents the portion of gross assessments required to fund the future policy benefits. 2023 2022 2021 ($ in thousands) Interest accrual $ 486,253 $ 433,631 $ 344,789 Gross assessments $ 1,405,696 $ 1,367,796 $ 1,674,305 Weighted-average duration of the liability in years (at original discount rate) 22 23 22 Weighted-average interest rate (at original discount rate) 3.39 % 3.37 % 3.37 % The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Deferred Profit Liability and Additional Insurance Reserves including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Consolidated Statements of Financial Position for the years ended December 31,: 2023 2022 2021 (in thousands) Benefit reserves, end of period, post-flooring $ 7,727,206 $ 7,128,184 $ 8,690,057 Deferred profit liability, end of period, post-flooring 14,818 18,193 15,765 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Subtotal of amounts disclosed above 22,022,816 19,810,822 20,366,349 Other Future policy benefits reserves(1) 1,182,389 1,018,211 1,144,400 Total Future policy benefits $ 23,205,205 $ 20,829,033 $ 21,510,749 (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, Deferred Profit Liability and Additional Insurance Reserves, 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: Year Ended December 31, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,804,955 $ 0 $ 41,111 $ 1,846,066 Deferred profit liability 0 0 3,375 3,375 Additional insurance reserves 0 1,405,696 0 1,405,696 Total $ 1,804,955 $ 1,405,696 $ 44,486 $ 3,255,137 Year Ended December 31, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,831,360 $ 0 $ 32,105 $ 1,863,465 Deferred profit liability 0 0 (2,428) (2,428) Additional insurance reserves 0 1,367,796 0 1,367,796 Total $ 1,831,360 $ 1,367,796 $ 29,677 $ 3,228,833 Year Ended December 31, 2021 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,822,261 $ 0 $ 35,672 $ 1,857,933 Deferred profit liability 0 0 (5,805) (5,805) Additional insurance reserves 0 1,674,305 0 1,674,305 Total $ 1,822,261 $ 1,674,305 $ 29,867 $ 3,526,433 (1) Represents "Gross premiums" for benefit reserves; "Gross assessments" for additional insurance reserves; and "Revenue" for deferred profit liability. Year Ended December 31, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 373,845 $ 0 $ 8,440 $ 382,285 Deferred profit liability 0 0 552 552 Additional insurance reserves 0 486,253 0 486,253 Total $ 373,845 $ 486,253 $ 8,992 $ 869,090 Year Ended December 31, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 363,375 $ 0 $ 7,836 $ 371,211 Deferred profit liability 0 0 616 616 Additional insurance reserves 0 433,631 0 433,631 Total $ 363,375 $ 433,631 $ 8,452 $ 805,458 Year Ended December 31, 2021 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 343,467 $ 0 $ 7,454 $ 350,921 Deferred profit liability 0 0 529 529 Additional insurance reserves 0 344,789 0 344,789 Total $ 343,467 $ 344,789 $ 7,983 $ 696,239
Additional Liability, Long-Duration Insurance (URR and Cost of Reinsurance)	The balances of and changes in URR as of and for the periods ended are as follows: Years Ended December 31, 2023 2022 2021 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 $ 1,745,269 Unearned revenue 827,960 799,185 760,153 Amortization expense (153,779) (129,525) (106,634) Other adjustments (91) (1,112) 0 Balance, end of period 3,741,426 3,067,336 2,398,788 Less: Reinsurance recoverables 1,690,255 1,542,900 939,798 Unearned revenue reserve net of reinsurance recoverables $ 2,051,171 $ 1,524,436 $ 1,458,990
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: Year Ended December 31, 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 1,158,879 (246,747) 912,132 Claims paid (85,898) 9,952 (75,946) Interest accrual 293,205 (53,016) 240,189 Actual in force different from expected 79,030 (13,338) 65,692 Effect of changes in interest rates (1,438,873) 455,062 (983,811) Effect of changes in equity markets (1,845,207) 180,953 (1,664,254) Effect of assumption update 330,769 (54,067) 276,702 Issuances 29,433 7,680 37,113 Other adjustments(1) (36,888) (635,011) (671,899) Effect of changes in current period counterparty non-performance risk 0 (146,999) (146,999) Balance, end of period, before effect of changes in non-performance risk 4,762,985 (917,792) 3,845,193 Effect of cumulative changes in non-performance risk (1,068,035) 0 (1,068,035) Balance, end of period $ 3,694,950 $ (917,792) $ 2,777,158 Year Ended December 31, 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 1,249,956 (147,727) 1,102,229 Claims paid (64,406) 3,456 (60,950) Interest accrual 143,483 (13,438) 130,045 Actual in force different from expected 105,996 (9,968) 96,028 Effect of changes in interest rates (7,271,427) 767,394 (6,504,033) Effect of changes in equity markets 3,103,563 (326,575) 2,776,988 Effect of assumption update (160,597) 23,171 (137,426) Effect of changes in current period counterparty non-performance risk 0 187,910 187,910 Balance, end of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Effect of cumulative changes in non-performance risk (1,727,910) 0 (1,727,910) Balance, end of period $ 4,550,625 $ (422,261) $ 4,128,364 Year Ended December 31, 2021 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 13,577,543 $ (13,589,575) $ (12,032) Effect of cumulative changes in non-performance risk 722,837 0 722,837 Balance, beginning of period, before effect of changes in non-performance risk 14,300,380 (13,589,575) 710,805 Attributed fees collected 1,368,434 (759,997) 608,437 Claims paid (29,401) 14,648 (14,753) Interest accrual 24,824 (16,593) 8,231 Actual in force different from expected (19,290) 22,687 3,397 Effect of changes in interest rates (3,461,436) 3,240,588 (220,848) Effect of changes in equity markets (2,789,777) 2,070,833 (718,944) Effect of assumption update (221,767) 221,767 0 Other adjustments(1) 0 8,223,470 8,223,470 Effect of changes in current period counterparty non-performance risk 0 (334,312) (334,312) Balance, end of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Effect of cumulative changes in non-performance risk (287,605) 0 (287,605) Balance, end of period $ 8,884,362 $ (906,484) $ 7,977,878 (1) Other adjustments for December 31, 2023 primarily includes $638 million related to the reinsurance transaction with AuguStar. See Note 11 for additional information. Other adjustments for December 31, 2021 includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. The following table presents accompanying information to the rollforward table above. December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities ($ in thousands) Net amount at risk(1) $ 9,041,651 $ 12,141,947 $ 2,566,157 Weighted-average attained age of contractholders 70 68 66 (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: December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities (in thousands) Market risk benefit assets $ 2,367,243 $ 1,393,237 $ 1,786,565 Market risk benefit liabilities 5,144,401 5,521,601 9,764,443 Net liability $ 2,777,158 $ 4,128,364 $ 7,977,878
Impacts of Recapture
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effects of Reinsurance		Affiliated Asset Transfers Affiliate Period Transaction Security Type Fair Value Book Value APIC/ Retained Earnings Increase/(Decrease) Realized Investment Gain/(Loss), Net Derivative Gain/(Loss) (in millions) PALAC July 1, 2021 Purchase Derivatives, Fixed Maturities, Equity Securities, Commercial Mortgages and JV/LP Investments $ 4,908 $ 4,908 $ 0 $ 0 $ 0 Prudential Insurance July 1, 2021 Contributed Capital Fixed Maturities $ 3,420 $ 3,420 $ 3,420 $ 0 $ 0
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	Consolidated Statements of Financial Position: December 31, 2022 IMPACTED LINES ONLY As Originally 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 Consolidated Statements of Operations and Comprehensive Income (Loss): Year Ended December 31, 2022 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) REVENUES Premiums $ 274,783 $ (9,575) $ 265,208 Policy charges and fee income 1,731,957 (501,356) 1,230,601 Other income (loss) (661,860) 10,391 (651,469) Realized investment gains (losses), net 1,041,435 (705,053) 336,382 Change in value of market risk benefits, net of related hedging gain (loss) 0 (700,581) (700,581) TOTAL REVENUES 3,554,498 (1,906,174) 1,648,324 BENEFITS AND EXPENSES Policyholders’ benefits 609,392 (151,019) 458,373 Change in estimates of liability for future policy benefits 0 55,099 55,099 Interest credited to policyholders’ account balances 517,488 (72,273) 445,215 Amortization of deferred policy acquisition costs 857,385 (337,109) 520,276 General, administrative and other expenses 1,154,229 2,235 1,156,464 TOTAL BENEFITS AND EXPENSES 3,138,494 (503,067) 2,635,427 INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 416,004 (1,403,107) (987,103) Income tax expense (benefit) (882) (294,653) (295,535) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 416,886 (1,108,454) (691,568) NET INCOME (LOSS) $ 341,749 $ (1,108,454) $ (766,705) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (2,430,238) 176,201 (2,254,037) Interest rate remeasurement of future policy benefits 0 310,353 310,353 Gain (loss) from changes in non-performance risk on market risk benefits 0 1,440,305 1,440,305 Total (2,439,575) 1,926,859 (512,716) Less: Income tax expense (benefit) related to other comprehensive income (loss) (510,840) 404,643 (106,197) Other comprehensive income (loss), net of taxes (1,928,735) 1,522,216 (406,519) Comprehensive income (loss) $ (1,586,986) $ 413,762 $ (1,173,224) Year Ended December 31, 2021 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) REVENUES Premiums $ 203,676 $ (19,218) $ 184,458 Policy charges and fee income 1,529,757 (229,662) 1,300,095 Other income (loss) 267,208 (4,788) 262,420 Realized investment gains (losses), net (5,295,406) 4,908,512 (386,894) Change in value of market risk benefits, net of related hedging gain (loss) 0 (4,222,530) (4,222,530) TOTAL REVENUES (2,542,353) 432,314 (2,110,039) BENEFITS AND EXPENSES Policyholders’ benefits 655,910 (573,200) 82,710 Change in estimates of liability for future policy benefits 0 27,008 27,008 Interest credited to policyholders’ account balances (114,585) (36,804) (151,389) Amortization of deferred policy acquisition costs 342,118 (16,523) 325,595 General, administrative and other expenses (523,925) 151 (523,774) TOTAL BENEFITS AND EXPENSES 359,518 (599,368) (239,850) INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (2,901,871) 1,031,682 (1,870,189) Income tax expense (benefit) (691,439) 216,653 (474,786) INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (2,210,432) 815,029 (1,395,403) NET INCOME (LOSS) $ (2,209,730) $ 815,029 $ (1,394,701) Other comprehensive income (loss), before tax: Net unrealized investment gains (losses) (247,176) 36,690 (210,486) Interest rate remeasurement of future policy benefits 0 37,274 37,274 Gain (loss) from changes in non-performance risk on market risk benefits 0 (435,232) (435,232) Total (251,067) (361,268) (612,335) Less: Income tax expense (benefit) related to other comprehensive income (loss) (52,374) (75,867) (128,241) Other comprehensive income (loss), net of taxes (198,693) (285,401) (484,094) Comprehensive income (loss) $ (2,408,423) $ 529,628 $ (1,878,795) Consolidated Statements of Cash Flows: Year Ended December 31, 2022 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 341,749 $ (1,108,454) $ (766,705) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (78,754) 210,690 131,936 Interest credited to policyholders’ account balances 517,488 (72,273) 445,215 Realized investment (gains) losses, net (1,041,435) 705,053 (336,382) Change in value of market risk benefits, net of related hedging (gains) losses 0 700,581 700,581 Change in: Future policy benefits and other insurance liabilities 2,407,887 1,335,893 3,743,780 Reinsurance recoverables (1,181,692) (1,072,598) (2,254,290) Deferred policy acquisition costs (105,194) (337,109) (442,303) Income taxes (40,095) (294,674) (334,769) Other, net 1,635,056 (67,109) 1,567,947 Cash flows from (used in) operating activities $ 1,824,964 $ 0 $ 1,824,964 Year Ended December 31, 2021 IMPACTED LINES ONLY As Originally Reported Effect of As Currently Reported (in thousands) CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ (2,209,730) $ 815,029 $ (1,394,701) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Policy charges and fee income (21,763) 187,438 165,675 Interest credited to policyholders’ account balances (114,585) (36,804) (151,389) Realized investment (gains) losses, net 5,295,406 (4,908,512) 386,894 Change in value of market risk benefits, net of related hedging (gains) losses 0 4,222,530 4,222,530 Change in: Future policy benefits and other insurance liabilities 2,080,967 (249,447) 1,831,520 Reinsurance recoverables (1,304,306) 169,623 (1,134,683) Deferred policy acquisition costs (3,926,121) (141,825) (4,067,946) Income taxes (1,082,459) 240,352 (842,107) Other, net 1,674,972 (298,384) 1,376,588 Cash flows from (used in) operating activities $ (883,941) $ 0 $ (883,941) 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 (“MRBs”) 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)	12 Months Ended
	Dec. 31, 2023
Investments [Abstract]
Fixed Maturities, Available-for-sale Securities	Fixed Maturity Securities The following tables set forth the composition of fixed maturity securities (excluding investments classified as trading), as of the dates indicated: December 31, 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 $ 1,009,937 $ 38,858 $ 73,508 $ 0 $ 975,287 Obligations of U.S. states and their political subdivisions 789,856 5,288 18,517 0 776,627 Foreign government bonds 330,830 1,840 50,684 0 281,986 U.S. public corporate securities 10,159,089 98,047 760,274 950 9,495,912 U.S. private corporate securities 5,207,699 37,435 254,828 812 4,989,494 Foreign public corporate securities 1,809,347 12,658 115,673 238 1,706,094 Foreign private corporate securities 4,902,391 109,806 381,215 0 4,630,982 Asset-backed securities(1) 2,016,028 23,035 11,512 1 2,027,550 Commercial mortgage-backed securities 913,347 4,776 66,345 0 851,778 Residential mortgage-backed securities(2) 399,542 4,016 7,481 7 396,070 Total fixed maturities, available-for-sale $ 27,538,066 $ 335,759 $ 1,740,037 $ 2,008 $ 26,131,780 (1) Includes credit-tranched securities collateralized by loan obligations, auto loans, education loans and home equity. (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 fixed maturity, available-for-sale 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: December 31, 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 $ 98,174 $ 945 $ 214,889 $ 72,563 $ 313,063 $ 73,508 Obligations of U.S. states and their political subdivisions 83,729 293 218,375 18,224 302,104 18,517 Foreign government bonds 10,226 116 233,757 50,568 243,983 50,684 U.S. public corporate securities 782,904 10,009 5,201,353 750,265 5,984,257 760,274 U.S. private corporate securities 707,674 16,613 2,794,697 238,181 3,502,371 254,794 Foreign public corporate securities 92,955 1,063 948,963 114,169 1,041,918 115,232 Foreign private corporate securities 429,212 8,035 2,461,367 373,180 2,890,579 381,215 Asset-backed securities 208,970 1,761 532,814 9,750 741,784 11,511 Commercial mortgage-backed securities 42,621 298 580,931 66,047 623,552 66,345 Residential mortgage-backed securities 35,904 435 124,956 7,046 160,860 7,481 Total fixed maturities, available-for-sale $ 2,492,369 $ 39,568 $ 13,312,102 $ 1,699,993 $ 15,804,471 $ 1,739,561 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 U.S. government authorities and agencies $ 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, available-for-sale by contractual maturities, as of the date indicated: December 31, 2023 Amortized Cost Fair Value (in thousands) Fixed maturities, available-for-sale: Due in one year or less $ 553,892 $ 546,321 Due after one year through five years 8,444,655 8,239,529 Due after five years through ten years 7,626,127 7,378,674 Due after ten years 7,584,475 6,691,858 Asset-backed securities 2,016,028 2,027,550 Commercial mortgage-backed securities 913,347 851,778 Residential mortgage-backed securities 399,542 396,070 Total fixed maturities, available-for-sale $ 27,538,066 $ 26,131,780
Sources of Fixed Maturity Proceeds and Related 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, available-for-sale, for the periods indicated: Years Ended December 31 2023 2022 2021 (in thousands) Fixed maturities, available-for-sale: Proceeds from sales(1) $ 460,596 $ 1,117,293 $ 790,331 Proceeds from maturities/prepayments 1,218,844 624,640 465,347 Gross investment gains from sales and maturities 11,482 5,647 14,972 Gross investment losses from sales and maturities (43,078) (58,432) (16,674) Write-offs recognized in earnings(2) (2,358) (20,600) (2) (Addition to) release of allowance for credit losses 2,761 (620) (1,810) (1) Excludes activity from non-cash related proceeds due to the timing of trade settlements of $57.4 million, $(53.9) million and $(4.4) million for the years ended December 31, 2023, 2022 and 2021, 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 available-for-sale securities, as of the dates indicated: Year Ended December 31, 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 4,267 1 0 0 4,268 Reductions for securities sold during the period 0 (1) (5,118) 0 0 (1) (5,120) Additions (reductions) on securities with previous allowance 0 (4) 436 0 0 (1) 431 Write-downs charged against the allowance 0 0 (2,340) 0 0 0 (2,340) Balance, end of period $ 0 $ 0 $ 2,000 $ 1 $ 0 $ 7 $ 2,008 Year Ended December 31, 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 12,700 0 0 7 13,036 Reductions for securities sold during the period 0 (96) (1,702) 0 0 0 (1,798) Reductions for securities with intent to sell 0 (324) (16,666) 0 0 0 (16,990) Additions (reductions) on securities with previous allowance 0 85 6,285 0 0 2 6,372 Balance, end of period $ 0 $ 5 $ 4,755 $ 0 $ 0 $ 9 $ 4,769 Year Ended December 31, 2021 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 $ 2,339 $ 0 $ 0 $ 0 $ 2,339 Additions to allowance for credit losses not previously recorded 0 11 2,664 0 0 0 2,675 Reductions for securities sold during the period 0 0 (28) 0 0 0 (28) Additions (reductions) on securities with previous allowance 0 0 (837) 0 0 0 (837) Balance, end of period $ 0 $ 11 $ 4,138 $ 0 $ 0 $ 0 $ 4,149
Commercial Mortgage and Other Loans	The following table sets forth the composition of “Commercial mortgage and other loans” as of the dates indicated: December 31, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,578,785 25.7 % $ 1,289,026 26.0 % Hospitality 102,952 1.7 104,177 2.1 Industrial 2,486,230 40.4 1,766,247 35.8 Office 604,611 9.8 590,897 11.9 Other 456,720 7.4 380,121 7.7 Retail 363,706 5.9 351,457 7.1 Total commercial mortgage loans 5,593,004 90.9 4,481,925 90.6 Agricultural property loans 562,046 9.1 467,018 9.4 Total commercial mortgage and agricultural property loans 6,155,050 100.0 % 4,948,943 100.0 % Allowance for credit losses (37,689) (20,263) Net commercial mortgage and agricultural property loans 6,117,361 4,928,680 Other loans: Other collateralized loans 5,360 0 Total other loans 5,360 0 Net commercial mortgage and other loans $ 6,122,721 $ 4,928,680 The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at December 31, was as follows: Maturity Date Interest Rate 2023 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.85% $ 71,038 $ 72,225
Allowance for Credit Losses	The following table sets forth the activity in the allowance for credit losses for commercial mortgage and other loans, as of the dates indicated: Commercial Mortgage Loans Agricultural Property Loans Total (in thousands) Balance at December 31, 2020 $ 4,546 $ 6 $ 4,552 Addition to (release of) allowance for expected losses 1,301 98 1,399 Balance at December 31, 2021 5,847 104 5,951 Addition to (release of) allowance for expected losses 13,818 494 14,312 Balance at December 31, 2022 19,665 598 20,263 Addition to (release of) allowance for expected losses 17,093 333 17,426 Balance at December 31, 2023 $ 36,758 $ 931 $ 37,689
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: December 31, 2023 Amortized Cost by Origination Year 2023 2022 2021 2020 2019 Prior Total (in thousands) Commercial mortgage loans Loan-to-Value Ratio: 0%-59.99% $ 249,037 $ 245,914 $ 482,718 $ 109,249 $ 265,053 $ 1,068,763 $ 2,420,734 60%-69.99% 675,153 355,984 449,878 172,721 225,803 206,237 2,085,776 70%-79.99% 218,015 133,343 255,299 77,812 20,924 86,806 792,199 80% or greater 0 47,555 73,702 3,817 16,508 152,713 294,295 Total $ 1,142,205 $ 782,796 $ 1,261,597 $ 363,599 $ 528,288 $ 1,514,519 $ 5,593,004 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 1,038,315 $ 779,282 $ 1,261,597 $ 292,561 $ 497,407 $ 1,402,831 $ 5,271,993 1.0 - 1.2x 103,890 3,514 0 0 15,632 40,521 163,557 Less than 1.0x 0 0 0 71,038 15,249 71,167 157,454 Total $ 1,142,205 $ 782,796 $ 1,261,597 $ 363,599 $ 528,288 $ 1,514,519 $ 5,593,004 Agricultural property loans Loan-to-Value Ratio: 0%-59.99% $ 73,774 $ 179,375 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 452,661 60%-69.99% 47,489 56,210 0 0 0 0 103,699 70%-79.99% 5,686 0 0 0 0 0 5,686 80% or greater 0 0 0 0 0 0 0 Total $ 126,949 $ 235,585 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 562,046 Debt Service Coverage Ratio: Greater or Equal to 1.2x $ 126,949 $ 233,585 $ 130,353 $ 24,063 $ 15,824 $ 25,771 $ 556,545 1.0 - 1.2x 0 2,000 0 1,812 0 0 3,812 Less than 1.0x 0 0 1,689 0 0 0 1,689 Total $ 126,949 $ 235,585 $ 132,042 $ 25,875 $ 15,824 $ 25,771 $ 562,046 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: December 31, 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 $ 5,593,004 $ 0 $ 0 $ 0 $ 5,593,004 $ 0 Agricultural property loans 562,046 0 0 0 562,046 1,301 Other collateralized loans 5,360 0 0 0 5,360 0 Total $ 6,160,410 $ 0 $ 0 $ 0 $ 6,160,410 $ 1,301 (1) As of December 31, 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. 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.
Other Invested Assets	The following table sets forth the composition of “Other invested assets”, as of the dates indicated: December 31, 2023 2022 (in thousands) LPs/LLCs: Equity method: Private equity $ 333,863 $ 287,969 Hedge funds 720,360 576,595 Real estate-related 83,339 107,429 Subtotal equity method 1,137,562 971,993 Fair value: Private equity 48,483 59,146 Hedge funds 137 396 Real estate-related 18,687 9,457 Subtotal fair value 67,307 68,999 Total LPs/LLCs 1,204,869 1,040,992 Derivative instruments 17,718 47,111 Other(1) 398 510 Total other invested assets $ 1,222,985 $ 1,088,613
Equity Method Investments	The following tables set forth summarized combined financial information for significant LP/LLC interests accounted for under the equity method, including the Company’s investments in operating joint ventures. Changes between periods in the tables below reflect changes in the activities within the operating joint ventures and LPs/LLCs, as well as changes in the Company’s level of investment in such entities. December 31, 2023 2022 (in thousands) STATEMENTS OF FINANCIAL POSITION Total assets(1) $ 44,591,082 $ 67,721,613 Total liabilities(2) $ 2,802,022 $ 12,174,133 Partners’ capital 41,789,060 55,547,480 Total liabilities and partners’ capital $ 44,591,082 $ 67,721,613 Total liabilities and partners’ capital included above $ 979,271 $ 815,783 Equity in LP/LLC interests not included above 216,205 214,442 Carrying value $ 1,195,476 $ 1,030,225 (1) Amount represents gross assets of each fund where the Company has a significant investment. These assets consist primarily of investments in real estate, investments in securities and other miscellaneous assets. (2) Amount represents gross liabilities of each fund where the Company has a significant investment. These liabilities consist primarily of third-party-borrowed funds and other miscellaneous liabilities. Years Ended December 31, 2023 2022 2021 (in thousands) STATEMENTS OF OPERATIONS Total revenue(1) $ 3,465,807 $ 11,062,060 $ 11,031,051 Total expenses(2) (979,287) (1,655,673) (2,044,942) Net earnings (losses) $ 2,486,520 $ 9,406,387 $ 8,986,109 Equity in net earnings (losses) included above $ 17,795 $ (36,513) $ 62,173 Equity in net earnings (losses) of LP/LLC interests not included above 11,792 7,320 28,765 Total equity in net earnings (losses) $ 29,587 $ (29,193) $ 90,938 (1) Amount represents gross revenue of each fund where the Company has a significant investment. This revenue consists of income from investments in real estate, investments in securities and other income. (2) Amount represents gross expenses of each fund where the Company has a significant investment. These expenses consist primarily of interest expense, investment management fees, salary expenses and other expenses.
Accrued Investment Income	The following table sets forth the composition of “Accrued investment income,” as of the dates indicated: December 31, 2023 2022 (in thousands) Fixed maturities $ 272,031 $ 187,628 Equity securities 220 349 Commercial mortgage and other loans 21,070 13,335 Policy loans 35,210 14,525 Other invested assets 43 48 Short-term investments and cash equivalents 5,264 3,750 Total accrued investment income $ 333,838 $ 219,635
Net Investment Income	The following table sets forth “Net investment income” by investment type, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in thousands) Fixed maturities, available-for-sale $ 1,139,581 $ 589,248 $ 299,607 Fixed maturities, trading 96,128 55,790 38,778 Equity securities 14,772 8,226 530 Commercial mortgage and other loans 231,994 119,358 63,548 Policy loans 48,118 21,189 69,602 Other invested assets 98,369 101,289 104,375 Short-term investments and cash equivalents 123,857 44,182 712 Gross investment income 1,752,819 939,282 577,152 Less: investment expenses (77,297) (55,281) (26,917) Net investment income $ 1,675,522 $ 884,001 $ 550,235
Realized Investment Gains (Losses), Net	The following table sets forth “Realized investment gains (losses), net” by investment type, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in thousands) Fixed maturities(1) $ (31,193) $ (74,005) $ (3,514) Commercial mortgage and other loans (17,854) (18,201) 1,535 Other invested assets 36,246 (78,671) (2,737) Derivatives(2)(3) (1,072,892) 507,313 (382,531) Short-term investments and cash equivalents 2,033 (54) 353 Realized investment gains (losses), net(3) $ (1,083,660) $ 336,382 $ (386,894) (1) Excludes fixed maturity securities classified as trading. (2) Includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. (3) Prior period amounts reflect 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: December 31, 2023 2022 2021 (in thousands) Fixed maturity securities, available-for-sale with an allowance $ 1,987 $ 4,371 $ 3,685 Fixed maturity securities, available-for-sale without an allowance (1,406,265) (2,285,288) 540,881 Derivatives designated as cash flow hedges(1) 11,934 138,627 39,896 Affiliated notes (8,760) (13,189) 73 Other investments(2)(3) (1,089) (1,176) 868 Net unrealized gains (losses) on investments(3) $ (1,402,193) $ (2,156,655) $ 585,403 (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 reflect 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: December 31, 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 $ 486 $ 0 $ 486 $ 506 $ 0 $ 506 U.S. public corporate securities 27,247 0 27,247 7,903 0 7,903 Foreign public corporate securities 13,101 0 13,101 12,873 0 12,873 Equity securities 177,476 0 177,476 65,468 0 65,468 Total cash collateral for loaned securities(1) $ 218,310 $ 0 $ 218,310 $ 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.
Securities Pledged	The following table sets forth the carrying value of investments pledged to third-parties and the carrying amount of the associated liabilities supported by the pledged collateral, as of the dates indicated: December 31, 2023 2022 (in thousands) Pledged collateral: Fixed maturity securities, available-for-sale $ 39,344 $ 20,553 Equity securities 172,995 63,895 Total securities pledged $ 212,339 $ 84,448 Liabilities supported by the pledged collateral: Cash collateral for loaned securities $ 218,310 $ 86,750 Total liabilities supported by the pledged collateral $ 218,310 $ 86,750

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 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. December 31, 2023 December 31, 2022 Primary Underlying Risk/Instrument Type Gross Fair Value Gross Fair Value Assets Liabilities Assets Liabilities (in thousands) Derivatives Designated as Hedge Accounting Instruments: Currency/Interest Rate Interest Rate Swaps $ 3,064 $ 0 $ (238) $ 3,225 $ 0 $ (316) Foreign Currency Swaps 2,274,636 121,243 (54,044) 1,933,343 233,812 (10,462) Total Derivatives Designated as Hedge Accounting Instruments $ 2,277,700 $ 121,243 $ (54,282) $ 1,936,568 $ 233,812 $ (10,778) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate Interest Rate Swaps $ 163,179,764 $ 6,605,817 $ (17,820,436) $ 138,419,110 $ 6,757,890 $ (17,092,749) Interest Rate Futures 1,332,600 3,055 (210) 2,425,500 3,267 (201) Interest Rate Options 29,738,000 189,112 (969,718) 8,368,000 123,168 (225,125) Interest Rate Forwards 1,458,000 741 (3,196) 1,104,000 11,265 (12,359) Foreign Currency Foreign Currency Forwards 744,576 1,772 (12,232) 364,946 590 (10,423) Credit Credit Default Swaps 643,280 7,727 0 47,450 346 0 Currency/Interest Rate Foreign Currency Swaps 2,237,331 96,618 (31,294) 2,289,170 194,412 (14,624) Equity Total Return Swaps 15,049,993 418,084 (803,452) 15,958,130 120,341 (175,104) Equity Options 49,247,510 1,600,335 (1,552,706) 25,187,516 239,003 (1,112,196) Futures 418,973 1,232 (500) 876,790 956 (513) Synthetic GICs 311,302 1 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments $ 264,361,329 $ 8,924,494 $ (21,193,744) $ 195,040,612 $ 7,451,238 $ (18,643,294) Total Derivatives(1)(2) $ 266,639,029 $ 9,045,737 $ (21,248,026) $ 196,977,180 $ 7,685,050 $ (18,654,072) (1) Excludes embedded derivatives which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $7,402 million and $3,351 million as of December 31, 2023 and 2022, respectively, primarily included in "Policyholders' account balances". (2) Recorded in “Other invested assets” and “Payables to parent and affiliates” on the 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 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 Consolidated Statements of Financial Position. December 31, 2023 Gross Gross Net Financial Net Amount (in thousands) Offsetting of Financial Assets: Derivatives $ 9,045,718 $ (9,028,019) $ 17,699 $ 0 $ 17,699 Securities purchased under agreements to resell 25,000 0 25,000 0 25,000 Total Assets $ 9,070,718 $ (9,028,019) $ 42,699 $ 0 $ 42,699 Offsetting of Financial Liabilities: Derivatives $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 December 31, 2022 Gross Gross Net Financial Net Amount (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 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 Consolidated Statements of Financial Position. December 31, 2023 Gross Gross Net Financial Net Amount (in thousands) Offsetting of Financial Assets: Derivatives $ 9,045,718 $ (9,028,019) $ 17,699 $ 0 $ 17,699 Securities purchased under agreements to resell 25,000 0 25,000 0 25,000 Total Assets $ 9,070,718 $ (9,028,019) $ 42,699 $ 0 $ 42,699 Offsetting of Financial Liabilities: Derivatives $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 Securities sold under agreements to repurchase 0 0 0 0 0 Total Liabilities $ 21,248,026 $ (18,596,679) $ 2,651,347 $ (2,651,347) $ 0 December 31, 2022 Gross Gross Net Financial Net Amount (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. Year Ended December 31, 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 $ 2 $ 0 $ (118) $ 0 $ 72 Currency/Interest Rate (636) 0 43,934 (26,206) (126,765) Total cash flow hedges (634) 0 43,816 (26,206) (126,693) Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 25,329 (1,555,807) 0 0 0 Currency (16,012) 0 0 0 0 Currency/Interest Rate (102,238) 0 0 (257) 0 Credit 14,350 0 0 0 0 Equity 1,744,218 (821,996) 0 0 0 Embedded Derivatives (2,734,793) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (1,069,146) (2,377,803) 0 (257) 0 Total $ (1,069,780) $ (2,377,803) $ 43,816 $ (26,463) $ (126,693) Year Ended December 31, 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 $ (8) $ 0 $ (312) Currency/Interest Rate 7,636 0 36,734 34,070 99,043 Total cash flow hedges 7,637 0 36,726 34,070 98,731 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate 661,978 (5,230,085) 0 0 0 Currency 18,952 0 0 0 0 Currency/Interest Rate 107,388 0 0 557 0 Credit (15,904) 0 0 0 0 Equity 40,076 1,050,139 0 0 0 Embedded Derivatives (312,814) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments 499,676 (4,179,946) 0 557 0 Total $ 507,313 $ (4,179,946) $ 36,726 $ 34,627 $ 98,731 Year Ended December 31, 2021 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 $ 2 $ 0 $ 47 $ 0 $ (161) Currency/Interest Rate 1,357 0 15,983 11,119 48,169 Total cash flow hedges 1,359 0 16,030 11,119 48,008 Derivatives Not Qualifying as Hedge Accounting Instruments: Interest Rate (53,626) 33,029 0 0 0 Currency 2,006 0 0 0 0 Currency/Interest Rate 44,350 0 0 79 0 Credit 2,892 0 0 0 0 Equity (299,798) (644,967) 0 0 0 Embedded Derivatives (79,714) 0 0 0 0 Total Derivatives Not Qualifying as Hedge Accounting Instruments (383,890) (611,938) 0 79 0 Total $ (382,531) $ (611,938) $ 16,030 $ 11,198 $ 48,008 (1) Amounts reflect 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, 2020 $ (8,112) Amount recorded in AOCI Interest Rate (112) Currency/Interest Rate 76,628 Total amount recorded in AOCI 76,516 Amount reclassified from AOCI to income Interest Rate (49) Currency/Interest Rate (28,459) Total amount reclassified from AOCI to income (28,508) Balance, December 31, 2021 $ 39,896 Amount recorded in AOCI Interest Rate (319) Currency/Interest Rate 177,483 Total amount recorded in AOCI 177,164 Amount reclassified from AOCI to income Interest Rate 7 Currency/Interest Rate (78,440) Total amount reclassified from AOCI to income (78,433) Balance, December 31, 2022 $ 138,627 Amount recorded in AOCI Interest Rate (44) Currency/Interest Rate (109,673) Total amount recorded in AOCI (109,717) Amount reclassified from AOCI to income Interest Rate 116 Currency/Interest Rate (17,092) Total amount reclassified from AOCI to income (16,976) Balance, December 31, 2023 $ 11,934

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 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. December 31, 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 $ 975,287 $ 0 $ $ 975,287 Obligations of U.S. states and their political subdivisions 0 776,627 0 776,627 Foreign government bonds 0 281,304 682 281,986 U.S. corporate public securities 0 9,495,912 0 9,495,912 U.S. corporate private securities 0 4,476,258 513,236 4,989,494 Foreign corporate public securities 0 1,698,965 7,129 1,706,094 Foreign corporate private securities 0 4,137,004 493,978 4,630,982 Asset-backed securities(2) 0 1,928,428 99,122 2,027,550 Commercial mortgage-backed securities 0 773,663 78,115 851,778 Residential mortgage-backed securities 0 396,070 0 396,070 Subtotal 0 24,939,518 1,192,262 26,131,780 Market risk benefit assets 0 0 2,367,243 2,367,243 Fixed maturities, trading 0 2,762,398 34,048 2,796,446 Equity securities(3) 790,346 11,285 28,709 830,340 Short-term investments 31,879 280,228 1,759 313,866 Cash equivalents 447,396 1,196,729 0 1,644,125 Other invested assets(4) 23,432 9,022,304 1 (9,028,019) 17,718 Other assets 0 0 224,019 224,019 Reinsurance recoverables 0 0 69,745 69,745 Receivables from parent and affiliates 0 147,984 0 147,984 Subtotal excluding separate account assets 1,293,053 38,360,446 3,917,786 (9,028,019) 34,543,266 Separate account assets(5)(6) 176,239 113,747,569 5,985 113,929,793 Total assets $ 1,469,292 $ 152,108,015 $ 3,923,771 $ (9,028,019) $ 148,473,059 Market risk benefit liabilities $ 0 $ 0 $ 5,144,401 $ $ 5,144,401 Policyholders' account balances 0 0 7,689,929 7,689,929 Payables to parent and affiliates 0 21,239,770 0 (18,588,647) 2,651,123 Other liabilities(7) 8,032 6,340 0 (8,032) 6,340 Total liabilities $ 8,032 $ 21,246,110 $ 12,834,330 $ (18,596,679) $ 15,491,793 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(8) 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(4) 4,223 7,680,827 0 (7,637,939) 47,111 Other assets 0 0 141,041 141,041 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(5)(6) 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(8) $ 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(7) 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 $(9,569) million and $(8,931) million as of December 31, 2023 and 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) Equity securities excluded from the fair value hierarchy include a fund for which fair value is measured at net asset value ("NAV") per share (or its equivalent) as a practical expedient. As of December 31, 2023, the fair value of this investment was $14.6 million. (4) 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 NAV per share (or its equivalent) as a practical expedient. At December 31, 2023 and 2022, the fair values of such investments were $67 million and $69 million, respectively. (5) 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 Consolidated Statements of Financial Position. (6) 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 December 31, 2023 and 2022, the fair value of such investments was $5,259 million and $5,262 million, respectively. (7) Other liabilities includes embedded derivatives associated with reinsurance agreements. (8) Amounts reflect 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. December 31, 2023 Fair Value Valuation Unobservable Minimum Maximum Weighted Impact of (in thousands) Assets: Corporate securities(2) $ 81,635 Discounted cash flow Discount rate 6.98 % 20 % 9.73 % Decrease Liquidation Liquidation value 63.62 % 63.62 % 63.62 % Increase Commercial mortgage-backed securities $ 78,115 Discounted cash flow Liquidity premium 0.60 % 0.75 % 0.71 % Decrease Market risk benefit assets(4) $ 2,367,243 Discounted cash flow Lapse rate(5) 1 % 20 % Increase Spread over SOFR(6) 0.41 % 1.91 % 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 Other assets $ 224,019 Discounted cash flow Lapse rate(5) 1 % 80 % Increase Spread over SOFR(6) 0.41 % 1.85 % Increase Mortality rate(9) 0 % 23 % Increase Equity volatility curve 6 % 25 % Decrease Option Budget(11) (1) % 7 % Decrease Liabilities: Market risk benefit liabilities(4) $ 5,144,401 Discounted cash flow Lapse rate(5) 1 % 20 % Decrease Spread over SOFR(6) 0.41 % 1.91 % 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) $ 7,689,929 Discounted cash flow Lapse rate(5) 1 % 80 % Decrease Spread over SOFR(6) 0.41 % 1.85 % Decrease Mortality rate(9) 0 % 23 % Decrease Equity volatility curve 6 % 25 % Increase Option Budget(11) (1) % 7 % 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 accumulation, 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 balances. (6) The spread over the SOFR swap curve and the 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 December 31, 2023 and 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 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, now known as AuguStar Life Insurance Company ("AuguStar"), 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 AuguStar, which may differ from that of the Company's; however, the NPR spreads for AuguStar 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 December 31, 2023 and 2022, the minimum withdrawal rate assumption is 81% and 77%, respectively. As of December 31, 2023 and 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 budget determines future costs of the options, which impacts the growth in account value and the valuation of embedded derivatives. (12) Amounts reflect 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. Year Ended December 31, 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 $ (42) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 682 $ (53) Corporate securities(3) 507,496 85 567,936 (39,722) 0 (130,688) 3,129 117,671 (11,564) 1,014,343 (973) Structured securities(4) 104,724 (4,442) 241,159 (37) 0 (2,147) (2,222) 4,537 (164,335) 177,237 (4,298) Other assets: Fixed maturities, trading 0 1,083 36,284 0 0 0 2,931 0 (6,250) 34,048 1,225 Equity securities 28,593 (928) 2,531 0 0 0 (1,487) 0 0 28,709 (928) Other invested assets 0 1 0 0 0 0 0 0 0 1 1 Short-term investments 16,945 2,573 4,922 0 0 (21,322) (1,359) 0 0 1,759 0 Other assets 141,041 (40,062) 145,922 0 0 (22,882) 0 0 0 224,019 (62,944) Reinsurance recoverables(5) 0 (3,034) 75,143 0 0 0 (2,364) 0 0 69,745 (3,034) Separate account assets 4,645 408 2,216 (1,124) 0 (160) 0 0 0 5,985 406 Liabilities: Policyholders' account balances(5) (3,502,096) (2,641,436) 0 0 (1,653,028) 0 106,631 0 0 (7,689,929) (360,807) Year Ended December 31, 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 $ (2,081) $ 0 $ 0 $ (2,808) $ 490 $ (2,904) $ 0 $ 0 $ (2,420) Other assets: Fixed maturities, trading 0 1,080 0 0 3 0 1,225 0 0 Equity securities 0 (928) 0 0 0 0 (928) 0 0 Other invested assets 1 0 0 0 0 1 0 0 0 Short-term investments 1,857 0 0 (73) 789 0 0 0 0 Other assets (40,062) 0 0 0 0 (62,944) 0 0 0 Reinsurance recoverables (3,034) 0 0 0 0 (3,034) 0 0 0 Separate account assets 0 0 408 0 0 0 0 406 0 Liabilities: Policyholders' account balances (2,641,436) 0 0 0 0 (360,807) 0 0 0 Year Ended December 31, 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 $ 73 $ 501 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 724 $ 69 Corporate securities(3) 385,634 (47,296) 323,603 (62,827) 0 (102,377) 106,408 10,475 (106,124) 507,496 (45,235) Structured securities(4) 173,944 (26,318) 81,576 0 0 (1,993) 0 0 (122,485) 104,724 (28,489) Other assets: Equity securities 12,472 (3,310) 10,000 (230) 0 0 9,661 0 0 28,593 (3,872) Short-term investments 0 114 18,046 0 0 (8,560) 7,290 55 0 16,945 73 Other assets 72,937 44,096 49,677 0 0 (3,855) (21,814) 0 0 141,041 47,951 Separate account assets 0 (70) 7,715 (3,000) 0 0 0 0 0 4,645 (70) Liabilities: Policyholders' account balances(5) (3,245,773) (409,912) 0 0 (1,094,824) 0 1,248,413 0 0 (3,502,096) (289,548) Year Ended December 31, 2022(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 $ (16,829) $ 0 $ 0 $ (56,470) $ (242) $ (14,416) $ 0 $ 0 $ (59,239) Other assets: Equity securities 0 (3,310) 0 0 0 0 (3,872) 0 0 Short-term investments 77 0 0 73 (36) 0 0 0 73 Other assets 44,096 0 0 0 0 47,951 0 0 0 Separate account assets 0 0 (70) 0 0 0 0 (70) 0 Liabilities: Policyholders' account balances (409,912) 0 0 0 0 (289,548) 0 0 0 Year Ended December 31, 2021(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 $ (832) $ 0 $ (6,318) $ 388 $ (1,778) $ 0 $ (5,346) Other assets: Fixed maturities, trading 0 46 0 0 0 46 0 Equity securities 0 709 0 0 0 709 0 Short-term investments 181 0 0 0 0 0 0 Cash equivalents 147 0 0 0 0 0 0 Other assets 1,258 0 0 0 359 0 0 Liabilities: Policyholders' account balances (78,321) 0 0 0 5,476 0 0 (1) "Other" largely represents non-cash moves related to novated variable indexed annuities under the reinsurance agreement with FLIAC. See Note 11 for more details regarding these transactions. In addition, for the prior year Policyholders' account balances represents an out of period adjustment related to certain portions of reinsurance activity that had been incorrectly recorded on the balance sheet during the fourth quarter of 2021. (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 public, U.S. corporate private, foreign corporate public, and foreign corporate private securities. (4) Includes asset-backed and commercial mortgage-backed securities. (5) Purchases/issuances and settlements for Policyholders' account balances and Reinsurance recoverables 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 now reported as Market Risk Benefits. See Note 10 for additional information. (7) Excludes MRB assets of $2,367 million and $1,393 million and MRB liabilities of $5,144 million and $5,522 million as of December 31, 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. Year Ended December 31, 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 $ (42) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 682 $ (53) Corporate securities(3) 507,496 85 567,936 (39,722) 0 (130,688) 3,129 117,671 (11,564) 1,014,343 (973) Structured securities(4) 104,724 (4,442) 241,159 (37) 0 (2,147) (2,222) 4,537 (164,335) 177,237 (4,298) Other assets: Fixed maturities, trading 0 1,083 36,284 0 0 0 2,931 0 (6,250) 34,048 1,225 Equity securities 28,593 (928) 2,531 0 0 0 (1,487) 0 0 28,709 (928) Other invested assets 0 1 0 0 0 0 0 0 0 1 1 Short-term investments 16,945 2,573 4,922 0 0 (21,322) (1,359) 0 0 1,759 0 Other assets 141,041 (40,062) 145,922 0 0 (22,882) 0 0 0 224,019 (62,944) Reinsurance recoverables(5) 0 (3,034) 75,143 0 0 0 (2,364) 0 0 69,745 (3,034) Separate account assets 4,645 408 2,216 (1,124) 0 (160) 0 0 0 5,985 406 Liabilities: Policyholders' account balances(5) (3,502,096) (2,641,436) 0 0 (1,653,028) 0 106,631 0 0 (7,689,929) (360,807) Year Ended December 31, 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 $ (2,081) $ 0 $ 0 $ (2,808) $ 490 $ (2,904) $ 0 $ 0 $ (2,420) Other assets: Fixed maturities, trading 0 1,080 0 0 3 0 1,225 0 0 Equity securities 0 (928) 0 0 0 0 (928) 0 0 Other invested assets 1 0 0 0 0 1 0 0 0 Short-term investments 1,857 0 0 (73) 789 0 0 0 0 Other assets (40,062) 0 0 0 0 (62,944) 0 0 0 Reinsurance recoverables (3,034) 0 0 0 0 (3,034) 0 0 0 Separate account assets 0 0 408 0 0 0 0 406 0 Liabilities: Policyholders' account balances (2,641,436) 0 0 0 0 (360,807) 0 0 0 Year Ended December 31, 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 $ 73 $ 501 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 724 $ 69 Corporate securities(3) 385,634 (47,296) 323,603 (62,827) 0 (102,377) 106,408 10,475 (106,124) 507,496 (45,235) Structured securities(4) 173,944 (26,318) 81,576 0 0 (1,993) 0 0 (122,485) 104,724 (28,489) Other assets: Equity securities 12,472 (3,310) 10,000 (230) 0 0 9,661 0 0 28,593 (3,872) Short-term investments 0 114 18,046 0 0 (8,560) 7,290 55 0 16,945 73 Other assets 72,937 44,096 49,677 0 0 (3,855) (21,814) 0 0 141,041 47,951 Separate account assets 0 (70) 7,715 (3,000) 0 0 0 0 0 4,645 (70) Liabilities: Policyholders' account balances(5) (3,245,773) (409,912) 0 0 (1,094,824) 0 1,248,413 0 0 (3,502,096) (289,548) Year Ended December 31, 2022(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 $ (16,829) $ 0 $ 0 $ (56,470) $ (242) $ (14,416) $ 0 $ 0 $ (59,239) Other assets: Equity securities 0 (3,310) 0 0 0 0 (3,872) 0 0 Short-term investments 77 0 0 73 (36) 0 0 0 73 Other assets 44,096 0 0 0 0 47,951 0 0 0 Separate account assets 0 0 (70) 0 0 0 0 (70) 0 Liabilities: Policyholders' account balances (409,912) 0 0 0 0 (289,548) 0 0 0 Year Ended December 31, 2021(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 $ (832) $ 0 $ (6,318) $ 388 $ (1,778) $ 0 $ (5,346) Other assets: Fixed maturities, trading 0 46 0 0 0 46 0 Equity securities 0 709 0 0 0 709 0 Short-term investments 181 0 0 0 0 0 0 Cash equivalents 147 0 0 0 0 0 0 Other assets 1,258 0 0 0 359 0 0 Liabilities: Policyholders' account balances (78,321) 0 0 0 5,476 0 0 (1) "Other" largely represents non-cash moves related to novated variable indexed annuities under the reinsurance agreement with FLIAC. See Note 11 for more details regarding these transactions. In addition, for the prior year Policyholders' account balances represents an out of period adjustment related to certain portions of reinsurance activity that had been incorrectly recorded on the balance sheet during the fourth quarter of 2021. (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 public, U.S. corporate private, foreign corporate public, and foreign corporate private securities. (4) Includes asset-backed and commercial mortgage-backed securities. (5) Purchases/issuances and settlements for Policyholders' account balances and Reinsurance recoverables 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 now reported as Market Risk Benefits. See Note 10 for additional information. (7) Excludes MRB assets of $2,367 million and $1,393 million and MRB liabilities of $5,144 million and $5,522 million as of December 31, 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 the years ended December 31, 2023 and 2021, there were no triggering events. Years Ended December 31, 2023 2022 2021 (in thousands) Equity in earnings of operating joint venture, net of taxes Investment in joint venture $ 0 $ (75,000) $ 0 Gains (Losses): Other invested assets $ 0 $ (11,125) $ 0 December 31, 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 Consolidated Statements of Financial Position. In some cases, as described below, the carrying amount equals or approximates fair value. December 31, 2023 Fair Value Carrying Level 1 Level 2 Level 3 Total Total (in thousands) Assets: Commercial mortgage and other loans $ 0 $ 0 $ 5,918,386 $ 5,918,386 $ 6,122,721 Policy loans 0 0 1,472,677 1,472,677 1,472,677 Short-term investments 66,500 0 0 66,500 66,500 Cash and cash equivalents 470,668 24,999 0 495,667 495,667 Accrued investment income 0 333,838 0 333,838 333,838 Reinsurance recoverables 0 0 22,155 22,155 23,537 Receivables from parent and affiliates 0 184,599 0 184,599 184,599 Other assets 0 80,646 1,489,983 1,570,629 1,570,629 Total assets $ 537,168 $ 624,082 $ 8,903,201 $ 10,064,451 $ 10,270,168 Liabilities: Policyholders’ account balances - investment contracts $ 0 $ 955,647 $ 5,396,885 $ 6,352,532 $ 6,368,061 Cash collateral for loaned securities 0 218,310 0 218,310 218,310 Short-term debt to affiliates 0 176,110 0 176,110 180,411 Payables to parent and affiliates 0 16,573 0 16,573 16,573 Other liabilities 0 2,121,861 32,423 2,154,284 2,154,283 Total liabilities $ 0 $ 3,488,501 $ 5,429,308 $ 8,917,809 $ 8,937,638 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)

Deferred Policy Acquisition C_2

Deferred Policy Acquisition Costs, Deferred Reinsurance Losses, Deferred Reinsurance Gains And Deferred Sales Inducements (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Charges, Insurers [Abstract]
Deferred Policy Acquisition Costs	The following table shows a rollforward for the lines of business that contain DAC balances, along with a reconciliation to the Company's total DAC balance: Fixed Annuities Variable Annuities Term Life Variable / Universal Life Total (in thousands) Balance, January 1, 2021 $ 0 $ 0 $ 462,099 $ 2,030,983 $ 2,493,082 Capitalization 576 32,590 168,760 653,864 855,790 Amortization expense (1,008) (146,952) (53,775) (123,860) (325,595) Other(1) 84,913 3,921,094 0 24 4,006,031 Balance, December 31, 2021 84,481 3,806,732 577,084 2,561,011 7,029,308 Capitalization 31,494 270,864 127,541 532,678 962,577 Amortization expense (13,724) (341,142) (55,423) (109,987) (520,276) Other(2) 0 0 (365) (540,819) (541,184) Balance, December 31, 2022 102,251 3,736,454 648,837 2,442,883 6,930,425 Capitalization 117,851 241,136 159,000 576,920 1,094,907 Amortization expense (22,165) (326,444) (63,949) (121,877) (534,435) Other(3) 0 (393,385) 0 (1) (393,386) Balance, December 31, 2023 $ 197,937 $ 3,257,761 $ 743,888 $ 2,897,925 $ 7,097,511 (1) Includes the impact of the 2021 Variable Annuities Recapture as well as the assuming of DAC upon Affiliated reinsurance agreement with FLIAC within Fixed Annuities. See Note 1 and Note 11 for additional information. (2) Includes the impact of the reinsurance agreement with Lotus Re. See Note 11 for additional information. (3) Includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information.
Deferred Reinsurance Losses	The following table shows a rollforward for the lines of business that contain DRL balances, along with a reconciliation to the Company's total DRL balance: Variable Annuities Term Life Total (in thousands) Balance, January 1, 2021 $ 274,415 $ 87,932 $ 362,347 Amortization expense (14,847) (9,506) (24,353) Other (4,991) 0 (4,991) Balance, December 31, 2021 254,577 78,426 333,003 Amortization expense (31,057) (9,048) (40,105) Other (5) 0 (5) Balance, December 31, 2022 223,515 69,378 292,893 Amortization expense (29,403) (8,374) (37,777) Other (1) 0 (1) Balance, December 31, 2023 $ 194,111 $ 61,004 $ 255,115
Deferred Insurance Gains	The following table shows a rollforward for the lines of business that contain DRG balances, along with a reconciliation to the Company's total DRG balance: Fixed Annuities Variable Annuities Variable / Universal Life Total (in thousands) Balance, January 1, 2021 $ 0 $ 0 $ 174,259 $ 174,259 Amortization (657) 0 (7,365) (8,022) Other(1) 78,795 0 7,704 86,499 Balance, December 31, 2021 78,138 0 174,598 252,736 Amortization (6,437) 0 (79,952) (86,389) Other(2) (13,803) 0 1,340,312 1,326,509 Balance, December 31, 2022 57,898 0 1,434,958 1,492,856 Amortization (9,790) (15,612) (71,462) (96,864) Other(3) (34) 277,333 0 277,299 Balance, December 31, 2023 $ 48,074 $ 261,721 $ 1,363,496 $ 1,673,291 (1) Includes the impact of the 2021 Variable Annuities Recapture. (2) Includes $1,352 million deferred gain related to the reinsurance agreement with Lotus Re, entered into January 1, 2022. (3) Includes the impact of the reinsurance agreement with AuguStar. See Note 11 for additional information.
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: Variable Annuities (in thousands) Balance, January 1, 2021 $ 0 Capitalization 167 Amortization expense (17,885) Other(1) 432,337 Balance, December 31, 2021 414,619 Capitalization 676 Amortization expense (33,791) Balance, December 31, 2022 381,504 Capitalization 1,514 Amortization expense (31,625) Other 31 Balance, December 31, 2023 $ 351,424 (1) Includes the impact of the 2021 Variable Annuities Recapture.

Separate Accounts (Tables)

Separate Accounts (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Separate Account Assets	The aggregate fair value of assets, by major investment asset category, supporting separate accounts is as follows: December 31, 2023 December 31, 2022 (in thousands) Asset Type: U.S. Treasury securities and obligations of U.S. government authorities and agencies $ 2,954 $ 2,510 U.S. corporate securities 9,504 8,702 Foreign corporate securities 1,763 1,420 Mortgage-backed securities 186 276 Mutual funds: Equity 72,614,821 67,144,660 Fixed Income 37,065,162 38,109,374 Other 4,101,661 3,441,016 Equity securities 104,159 49,260 Other invested assets 5,258,900 5,262,178 Short-term investments 2,126 1,237 Cash and cash equivalents 27,249 30,613 Total $ 119,188,485 $ 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: Year Ended December 31, 2023 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 91,785,447 $ 22,265,799 $ 114,051,246 Deposits 440,707 2,745,751 3,186,458 Investment performance 12,219,777 4,310,729 16,530,506 Policy charges (2,296,859) (829,539) (3,126,398) Surrenders and withdrawals (9,687,372) (347,955) (10,035,327) Benefit payments (73,791) (226,242) (300,033) Net transfers (to) from general account(1) (15,121) (1,175,575) (1,190,696) Other 10,333 62,396 72,729 Balance, end of period $ 92,383,121 $ 26,805,364 $ 119,188,485 Cash surrender value(2) $ 91,201,190 $ 23,700,726 $ 114,901,916 Year Ended December 31, 2022 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Deposits 658,695 2,275,000 2,933,695 Investment performance (21,600,783) (4,270,091) (25,870,874) Policy charges (2,513,831) (767,168) (3,280,999) Surrenders and withdrawals (8,481,231) (339,931) (8,821,162) Benefit payments (62,586) (278,140) (340,726) Net transfers (to) from general account (206,269) (213,752) (420,021) Other 13,828 39,677 53,505 Balance, end of period $ 91,785,447 $ 22,265,799 $ 114,051,246 Cash surrender value(2) $ 90,208,083 $ 19,575,562 $ 109,783,645 Year Ended December 31, 2021 Variable Annuities Variable Life Total (in thousands) Balance, beginning of period $ 124,275,626 $ 21,464,796 $ 145,740,422 Deposits 669,497 2,397,739 3,067,236 Investment performance 13,179,092 3,482,547 16,661,639 Policy charges (2,937,255) (703,264) (3,640,519) Surrenders and withdrawals (11,147,772) (403,558) (11,551,330) Benefit payments (74,953) (289,298) (364,251) Net transfers (to) from general account 3,449 (164,405) (160,956) Other 9,940 35,647 45,587 Balance, end of period $ 123,977,624 $ 25,820,204 $ 149,797,828 Cash surrender value(2) $ 121,847,584 $ 23,174,409 $ 145,021,993 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 15 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)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Liability for Future Policy Benefits	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. Year Ended December 31, 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 (200,513) (989) (201,502) Adjusted balance, beginning of period 11,265,387 (989) 11,264,398 Issuances 712,495 36,646 749,141 Net premiums / considerations collected (1,345,514) (35,657) (1,381,171) Interest accrual 521,176 0 521,176 Balance at original discount rate, end of period 11,153,544 0 11,153,544 Effect of cumulative changes in discount rate assumptions, end of period (225,711) 0 (225,711) Balance, end of period $ 10,927,833 $ 0 $ 10,927,833 Year Ended December 31, 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 962,035 24,876 986,911 Balance at original discount rate, beginning of period 18,797,286 229,603 19,026,889 Effect of assumption update (1,044) 0 (1,044) Effect of actual variances from expected experience and other activity (263,243) 6,991 (256,252) Adjusted balance, beginning of period 18,532,999 236,594 18,769,593 Issuances 712,495 36,646 749,141 Interest accrual 895,023 8,440 903,463 Benefit payments (1,386,583) (33,287) (1,419,870) Other adjustments 3,844 (84) 3,760 Balance at original discount rate, end of period 18,757,778 248,309 19,006,087 Effect of cumulative changes in discount rate assumptions, end of period (331,571) (19,521) (351,092) Balance, end of period $ 18,426,207 $ 228,788 $ 18,654,995 Other, end of period 1,765 Total balance, end of period $ 18,656,760 Year Ended December 31, 2023 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 7,498,374 $ 228,788 $ 7,727,162 Flooring impact, end of period 44 0 44 Balance, end of period, post-flooring 7,498,418 228,788 7,727,206 Less: Reinsurance recoverable 6,817,488 18,489 6,835,977 Balance after reinsurance recoverable, end of period, post-flooring $ 680,930 $ 210,299 $ 891,229 Year Ended December 31, 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 (112,661) (1,143) (113,804) Adjusted balance, beginning of period 11,841,569 (1,143) 11,840,426 Issuances 439,874 30,469 470,343 Net premiums / considerations collected (1,339,902) (29,326) (1,369,228) Interest accrual 525,149 0 525,149 Balance at original discount rate, end of period 11,466,690 0 11,466,690 Effect of cumulative changes in discount rate assumptions, end of period (554,896) 0 (554,896) Balance, end of period $ 10,911,794 $ 0 $ 10,911,794 Year Ended December 31, 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 (206,175) (1,639) (207,814) Adjusted balance, beginning of period 18,880,642 218,722 19,099,364 Issuances 439,874 30,469 470,343 Interest accrual 888,525 7,836 896,361 Benefit payments (1,416,823) (27,138) (1,443,961) Other adjustments 5,068 (286) 4,782 Balance at original discount rate, end of period 18,797,286 229,603 19,026,889 Effect of cumulative changes in discount rate assumptions, end of period (962,035) (24,876) (986,911) Balance, end of period $ 17,835,251 $ 204,727 $ 18,039,978 Other, end of period 2,127 Total balance, end of period $ 18,042,105 Year Ended December 31, 2022 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 6,923,457 $ 204,727 $ 7,128,184 Flooring impact, end of period 0 0 0 Balance, end of period, post-flooring 6,923,457 204,727 7,128,184 Less: Reinsurance recoverable 6,497,257 16,460 6,513,717 Balance after reinsurance recoverable, end of period, post-flooring $ 426,200 $ 188,267 $ 614,467 Year Ended December 31, 2021 Present Value of Expected Net Premiums Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 12,791,701 $ 0 $ 12,791,701 Effect of cumulative changes in discount rate assumptions, beginning of period (2,461,823) 0 (2,461,823) Balance at original discount rate, beginning of period 10,329,878 0 10,329,878 Effect of assumption update 39,089 0 39,089 Effect of actual variances from expected experience and other activity 246,712 0 246,712 Adjusted balance, beginning of period 10,615,679 0 10,615,679 Issuances 747,703 29,700 777,403 Net premiums / considerations collected (1,193,642) (29,700) (1,223,342) Interest accrual 489,196 0 489,196 Balance at original discount rate, end of period 10,658,936 0 10,658,936 Effect of cumulative changes in discount rate assumptions, end of period 1,826,120 0 1,826,120 Balance, end of period $ 12,485,056 $ 0 $ 12,485,056 Year Ended December 31, 2021 Present Value of Expected Future Policy Benefits Term Life Fixed Annuities Total (in thousands) Balance, beginning of period $ 21,897,943 $ 237,094 $ 22,135,037 Effect of cumulative changes in discount rate assumptions, beginning of period (4,893,834) (27,090) (4,920,924) Balance at original discount rate, beginning of period 17,004,109 210,004 17,214,113 Effect of assumption update 40,236 0 40,236 Effect of actual variances from expected experience and other activity 268,005 (1,422) 266,583 Adjusted balance, beginning of period 17,312,350 208,582 17,520,932 Issuances 747,703 29,700 777,403 Interest accrual 832,663 7,454 840,117 Benefit payments (1,566,091) (25,328) (1,591,419) Other adjustments 3,197 (47) 3,150 Balance at original discount rate, end of period 17,329,822 220,361 17,550,183 Effect of cumulative changes in discount rate assumptions, end of period 3,607,275 16,704 3,623,979 Balance, end of period $ 20,937,097 $ 237,065 $ 21,174,162 Other, end of period 2,902 Total balance, end of period $ 21,177,064 Year Ended December 31, 2021 Net Liability for Future Policy Benefits (Benefit Reserves) Term Life Fixed Annuities Total (in thousands) Balance, end of period, pre-flooring $ 8,452,041 $ 237,065 $ 8,689,106 Flooring impact, end of period 951 0 951 Balance, end of period, post-flooring 8,452,992 237,065 8,690,057 Less: Reinsurance recoverable 7,855,802 19,314 7,875,116 Balance after reinsurance recoverable, end of period, post-flooring $ 597,190 $ 217,751 $ 814,941 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: Year Ended December 31, 2023 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 21,871,767 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,027,611 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,748,999 $ 0 Undiscounted expected future benefits and expenses $ 29,118,532 $ 332,902 Interest accrual $ 373,845 $ 8,440 Gross premiums $ 1,804,955 $ 41,111 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) 5.17 % 3.70 % Weighted-average interest rate (at current discount rate) 4.99 % 4.95 % Year Ended December 31, 2022 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 22,223,836 $ 0 Discounted expected future gross premiums (at original discount rate) $ 15,322,180 $ 0 Discounted expected future gross premiums (at current discount rate) $ 14,587,657 $ 0 Undiscounted expected future benefits and expenses $ 29,330,574 $ 306,286 Interest accrual $ 363,375 $ 7,836 Gross premiums $ 1,831,360 $ 32,105 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) 5.23 % 3.60 % Weighted-average interest rate (at current discount rate) 5.39 % 5.33 % Year Ended December 31, 2021 Term Life Fixed Annuities ($ in thousands) Undiscounted expected future gross premiums $ 24,005,621 $ 0 Discounted expected future gross premiums (at original discount rate) $ 16,246,950 $ 0 Discounted expected future gross premiums (at current discount rate) $ 19,102,730 $ 0 Undiscounted expected future benefits and expenses $ 27,127,403 $ 293,095 Interest accrual $ 343,467 $ 7,454 Gross premiums $ 1,822,261 $ 35,672 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) 11 7 Weighted-average interest rate (at original discount rate) 5.30 % 3.47 % Weighted-average interest rate (at current discount rate) 2.55 % 2.49 % For additional information regarding observable market information and the techniques used to determine the interest rate assumptions seen above, see Note 2. The balances of and changes in Deferred Profit Liability for the years ended December 31, are as follows: 2023 2022 2021 Fixed Annuities (in thousands) Balance, beginning of period $ 18,193 $ 15,765 $ 9,959 Effect of actual variances from expected experience and other activity (6,978) 1,250 1,247 Adjusted balance, beginning of period 11,215 17,015 11,206 Profits deferred 5,191 2,511 5,823 Interest accrual 552 616 529 Amortization (2,129) (1,909) (1,793) Other adjustments (11) (40) 0 Balance, end of period 14,818 18,193 15,765 Less: Reinsurance recoverable 1,365 1,684 1,726 Balance after reinsurance recoverable $ 13,453 $ 16,509 $ 14,039 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, for the years ended December 31,: 2023 2022 2021 Fixed Annuities (in thousands) Revenue(1) $ 3,375 $ (2,428) $ (5,805) Interest accrual 552 616 529 (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 years ended December 31,: 2023 2022 2021 (in thousands) Balance, including amounts in AOCI, beginning of period, post-flooring $ 12,664,445 $ 11,660,527 $ 10,878,087 Flooring impact and amounts in AOCI 1,269,236 (896,931) (1,169,972) Balance, excluding amounts in AOCI, beginning of period, pre-flooring 13,933,681 10,763,596 9,708,115 Effect of assumption update 22,910 2,197,592 (1,243) Effect of actual variances from expected experience and other activity 34,021 (223,185) 53,125 Adjusted balance, beginning of period 13,990,612 12,738,003 9,759,997 Assessments collected(1) 929,709 961,924 848,263 Interest accrual 486,253 433,631 344,789 Benefits paid (294,199) (199,877) (189,453) Balance, excluding amounts in AOCI, end of period, pre-flooring 15,112,375 13,933,681 10,763,596 Flooring impact and amounts in AOCI (831,583) (1,269,236) 896,931 Balance, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Less: Reinsurance recoverable 14,054,600 12,458,184 11,419,340 Balance after reinsurance recoverable, including amounts in AOCI, end of period $ 226,192 $ 206,261 $ 241,187 (1) Represents the portion of gross assessments required to fund the future policy benefits. 2023 2022 2021 ($ in thousands) Interest accrual $ 486,253 $ 433,631 $ 344,789 Gross assessments $ 1,405,696 $ 1,367,796 $ 1,674,305 Weighted-average duration of the liability in years (at original discount rate) 22 23 22 Weighted-average interest rate (at original discount rate) 3.39 % 3.37 % 3.37 % The following table presents the reconciliation of the ending balances from the above rollforwards, Benefit Reserves, Deferred Profit Liability and Additional Insurance Reserves including other liabilities, gross of related reinsurance recoverables, to the total liability for Future Policy Benefits as reported on the Company's Consolidated Statements of Financial Position for the years ended December 31,: 2023 2022 2021 (in thousands) Benefit reserves, end of period, post-flooring $ 7,727,206 $ 7,128,184 $ 8,690,057 Deferred profit liability, end of period, post-flooring 14,818 18,193 15,765 Additional insurance reserves, including amounts in AOCI, end of period, post-flooring 14,280,792 12,664,445 11,660,527 Subtotal of amounts disclosed above 22,022,816 19,810,822 20,366,349 Other Future policy benefits reserves(1) 1,182,389 1,018,211 1,144,400 Total Future policy benefits $ 23,205,205 $ 20,829,033 $ 21,510,749 (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, Deferred Profit Liability and Additional Insurance Reserves, 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: Year Ended December 31, 2023 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,804,955 $ 0 $ 41,111 $ 1,846,066 Deferred profit liability 0 0 3,375 3,375 Additional insurance reserves 0 1,405,696 0 1,405,696 Total $ 1,804,955 $ 1,405,696 $ 44,486 $ 3,255,137 Year Ended December 31, 2022 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,831,360 $ 0 $ 32,105 $ 1,863,465 Deferred profit liability 0 0 (2,428) (2,428) Additional insurance reserves 0 1,367,796 0 1,367,796 Total $ 1,831,360 $ 1,367,796 $ 29,677 $ 3,228,833 Year Ended December 31, 2021 Revenues(1) Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 1,822,261 $ 0 $ 35,672 $ 1,857,933 Deferred profit liability 0 0 (5,805) (5,805) Additional insurance reserves 0 1,674,305 0 1,674,305 Total $ 1,822,261 $ 1,674,305 $ 29,867 $ 3,526,433 (1) Represents "Gross premiums" for benefit reserves; "Gross assessments" for additional insurance reserves; and "Revenue" for deferred profit liability. Year Ended December 31, 2023 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 373,845 $ 0 $ 8,440 $ 382,285 Deferred profit liability 0 0 552 552 Additional insurance reserves 0 486,253 0 486,253 Total $ 373,845 $ 486,253 $ 8,992 $ 869,090 Year Ended December 31, 2022 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 363,375 $ 0 $ 7,836 $ 371,211 Deferred profit liability 0 0 616 616 Additional insurance reserves 0 433,631 0 433,631 Total $ 363,375 $ 433,631 $ 8,452 $ 805,458 Year Ended December 31, 2021 Interest Expense Term Life Variable/ Universal Life Fixed Annuities Total (in thousands) Benefit reserves $ 343,467 $ 0 $ 7,454 $ 350,921 Deferred profit liability 0 0 529 529 Additional insurance reserves 0 344,789 0 344,789 Total $ 343,467 $ 344,789 $ 7,983 $ 696,239

Policyholders' Liabilities (Tab

Policyholders' Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Policyholder Account Balances, Future Policy Benefits and Claims and Separate Account Liabilities [Abstract]
Policyholder Account Balance	The balances of and changes in policyholders' account balances as of and for the periods ended are as follows: Year Ended December 31, 2023 Fixed Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 3,575,823 $ 16,432,032 $ 18,736,365 $ 38,744,220 Deposits 2,612,775 4,633,727 2,117,153 9,363,655 Interest credited 101,192 277,708 556,057 934,957 Policy charges (8,438) (23,368) (1,810,644) (1,842,450) Surrenders and withdrawals (229,843) (516,039) (845,436) (1,591,318) Benefit payments (50,522) (30,461) (83,409) (164,392) Net transfers (to) from separate account(1) 0 15,121 1,175,575 1,190,696 Change in market value and other adjustments(2) 163,326 2,048,045 322,052 2,533,423 Balance, end of period 6,164,313 22,836,765 20,167,713 49,168,791 Less: Reinsurance recoverables(3) 4,746 569,844 12,830,700 13,405,290 Policyholders' account balance net of reinsurance recoverables $ 6,159,567 $ 22,266,921 $ 7,337,013 $ 35,763,501 Unearned revenue reserve 3,741,426 Other 102,583 Total Policyholders' account balance $ 53,012,800 Weighted-average crediting rate 2.08 % 1.40 % 2.86 % 2.12 % Net amount at risk(4) $ 15 $ 0 $ 323,508,432 $ 323,508,447 Cash surrender value(5) $ 5,307,537 $ 20,490,433 $ 18,676,852 $ 44,474,822 Year Ended December 31, 2022 Fixed Annuities(6) Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 3,005,867 $ 11,465,411 $ 18,762,548 $ 33,233,826 Deposits 754,397 4,761,547 2,173,035 7,688,979 Interest credited 53,884 175,574 583,814 813,272 Policy charges (5,118) (5,482) (1,795,879) (1,806,479) Surrenders and withdrawals (68,343) (282,497) (873,034) (1,223,874) Benefit payments (90,640) (35,042) (103,358) (229,040) Net transfers (to) from separate account 0 206,269 213,752 420,021 Change in market value and other adjustments(2) (74,224) 146,252 (224,513) (152,485) Balance, end of period 3,575,823 16,432,032 18,736,365 38,744,220 Less: Reinsurance recoverables(3) 5,724 323,981 12,896,517 13,226,222 Policyholders' account balance net of reinsurance recoverables $ 3,570,099 $ 16,108,051 $ 5,839,848 $ 25,517,998 Unearned revenue reserve 3,067,336 Other(6) 100,980 Total Policyholders' account balance $ 41,912,536 Weighted-average crediting rate 1.64 % 1.26 % 3.11 % 2.26 % Net amount at risk(4) $ 3 $ 0 $ 304,864,582 $ 304,864,585 Cash surrender value(5) $ 2,968,033 $ 13,844,151 $ 17,137,744 $ 33,949,928 Year Ended December 31, 2021 Fixed Annuities(6) Variable Annuities Variable Life / Universal Life Total ($ in thousands) Balance, beginning of period $ 379,981 $ 3,634,125 $ 18,363,958 $ 22,378,064 Deposits 396,377 725,701 2,523,000 3,645,078 Interest credited 1,181 94,453 508,391 604,025 Policy charges (5,346) (1,941) (1,740,260) (1,747,547) Surrenders and withdrawals (41,886) (208,224) (990,423) (1,240,533) Benefit payments (87,897) (41,851) (132,586) (262,334) Net transfers (to) from separate account 0 (3,449) 164,405 160,956 Change in market value and other adjustments(2) 2,363,457 7,266,597 66,063 9,696,117 Balance, end of period 3,005,867 11,465,411 18,762,548 33,233,826 Less: Reinsurance recoverables(3) 7,066 340,527 11,706,343 12,053,936 Policyholders' account balance net of reinsurance recoverables $ 2,998,801 $ 11,124,884 $ 7,056,205 $ 21,179,890 Unearned revenue reserve 2,398,788 Other(6) 98,066 Total Policyholders' account balance $ 35,730,680 Weighted-average crediting rate 0.07 % 1.25 % 2.74 % 2.31 % Net amount at risk(4) $ 0 $ 0 $ 309,431,313 $ 309,431,313 Cash surrender value(5) $ 2,476,677 $ 11,250,816 $ 16,915,935 $ 30,643,428 (1) Variable life includes $900 million of funding for a policy loan to an affiliated irrevocable trust. See Note 15 for additional information. (2) Primarily relates to changes in the value of embedded derivative instruments associated with the indexed options of certain products. Includes $7,203 million related to assuming of policyholders' account balances with PALAC for the year ended December 31, 2021. See Note 1 for additional information. (3) The amount of recoverables related to reinsurance agreements that reduce the risk of the policyholders’ account balances gross liability. (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. (6) Prior period amounts have been updated to conform to current period presentation.
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: December 31, 2023 Range of Guaranteed Minimum 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) Fixed Annuities Less than 1.00% $ 105 $ 337 $ 994 $ 117,377 $ 118,813 1.00% - 1.99% 487,191 73,393 234,487 79,713 874,784 2.00% - 2.99% 301,132 469,276 562,347 16,881 1,349,636 3.00% - 4.00% 29,131 0 0 0 29,131 Greater than 4.00% 0 0 0 0 0 Total $ 817,559 $ 543,006 $ 797,828 $ 213,971 $ 2,372,364 Variable Annuities Less than 1.00% $ 908,097 $ 807,460 $ 18,083 $ 2 $ 1,733,642 1.00% - 1.99% 214,377 2,061 1,060 0 217,498 2.00% - 2.99% 23,323 4,071 4,135 0 31,529 3.00% - 4.00% 903,953 9,245 33 0 913,231 Greater than 4.00% 2,046 0 0 0 2,046 Total $ 2,051,796 $ 822,837 $ 23,311 $ 2 $ 2,897,946 Variable Life / Universal Life Less than 1.00% $ 0 $ 0 $ 0 $ 196,692 $ 196,692 1.00% - 1.99% 201,121 0 2,588,458 528,155 3,317,734 2.00% - 2.99% 28,061 1,445,439 2,789,520 260,651 4,523,671 3.00% - 4.00% 3,956,631 2,217,133 1,107,726 0 7,281,490 Greater than 4.00% 2,136,137 0 0 0 2,136,137 Total $ 6,321,950 $ 3,662,572 $ 6,485,704 $ 985,498 $ 17,455,724 December 31, 2022 Range of Guaranteed Minimum 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) Fixed Annuities(2) Less than 1.00% $ 0 $ 0 $ 0 $ 0 $ 0 1.00% - 1.99% 521,189 73,554 248,881 83,415 927,039 2.00% - 2.99% 208,420 0 0 0 208,420 3.00% - 4.00% 38,195 0 0 0 38,195 Greater than 4.00% 0 0 0 0 0 Total $ 767,804 $ 73,554 $ 248,881 $ 83,415 $ 1,173,654 Variable Annuities Less than 1.00% $ 1,008,763 $ 861,119 $ 18,744 $ 2 $ 1,888,628 1.00% - 1.99% 243,223 2,257 1,294 0 246,774 2.00% - 2.99% 26,778 973 0 0 27,751 3.00% - 4.00% 1,070,958 2247 0 0 1,073,205 Greater than 4.00% 2,172 0 0 0 2,172 Total $ 2,351,894 $ 866,596 $ 20,038 $ 2 $ 3,238,530 Variable Life / Universal Life Less than 1.00% $ 11,902 $ 0 $ 0 $ 0 $ 11,902 1.00% - 1.99% 418,399 0 773,591 1,928,342 3,120,332 2.00% - 2.99% 32,651 121,200 2,413,571 1,824,303 4,391,725 3.00% - 4.00% 4,737,864 3,510 2,093,511 129,398 6,964,283 Greater than 4.00% 2,145,123 0 0 0 2,145,123 Total $ 7,345,939 $ 124,710 $ 5,280,673 $ 3,882,043 $ 16,633,365 December 31, 2021 Range of Guaranteed Minimum 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) Fixed Annuities(2) Less than 1.00% $ 0 $ 0 $ 0 $ 0 $ 0 1.00% - 1.99% 9,470 0 0 0 9,470 2.00% - 2.99% 213,321 0 0 0 213,321 3.00% - 4.00% 42,418 0 0 0 42,418 Greater than 4.00% 0 0 0 0 0 Total $ 265,209 $ 0 $ 0 $ 0 $ 265,209 Variable Annuities Less than 1.00% $ 1,070,567 $ 894,487 $ 19,207 $ 2 $ 1,984,263 1.00% - 1.99% 267,409 1,627 0 0 269,036 2.00% - 2.99% 30,738 62 0 0 30,800 3.00% - 4.00% 1,150,448 0 0 0 1,150,448 Greater than 4.00% 2,415 0 0 0 2,415 Total $ 2,521,577 $ 896,176 $ 19,207 $ 2 $ 3,436,962 Variable Life / Universal Life Less than 1.00% $ 18,091 $ 0 $ 0 $ 0 $ 18,091 1.00% - 1.99% 380,144 0 0 2,537,887 2,918,031 2.00% - 2.99% 10,227 0 3,735,376 552,995 4,298,598 3.00% - 4.00% 4,793,734 2,048,590 343,129 53,673 7,239,126 Greater than 4.00% 2,092,925 0 0 0 2,092,925 Total $ 7,295,121 $ 2,048,590 $ 4,078,505 $ 3,144,555 $ 16,566,771 (1) Excludes contracts without minimum guaranteed crediting rates, such as funds with indexed-linked crediting options. (2) Prior period amounts have been updated to conform to current period presentation.
Additional Liability, Long-Duration Insurance	The balances of and changes in URR as of and for the periods ended are as follows: Years Ended December 31, 2023 2022 2021 Variable Life / Universal Life (in thousands) Balance, beginning of period $ 3,067,336 $ 2,398,788 $ 1,745,269 Unearned revenue 827,960 799,185 760,153 Amortization expense (153,779) (129,525) (106,634) Other adjustments (91) (1,112) 0 Balance, end of period 3,741,426 3,067,336 2,398,788 Less: Reinsurance recoverables 1,690,255 1,542,900 939,798 Unearned revenue reserve net of reinsurance recoverables $ 2,051,171 $ 1,524,436 $ 1,458,990

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	12 Months Ended
	Dec. 31, 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: Year Ended December 31, 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 1,158,879 (246,747) 912,132 Claims paid (85,898) 9,952 (75,946) Interest accrual 293,205 (53,016) 240,189 Actual in force different from expected 79,030 (13,338) 65,692 Effect of changes in interest rates (1,438,873) 455,062 (983,811) Effect of changes in equity markets (1,845,207) 180,953 (1,664,254) Effect of assumption update 330,769 (54,067) 276,702 Issuances 29,433 7,680 37,113 Other adjustments(1) (36,888) (635,011) (671,899) Effect of changes in current period counterparty non-performance risk 0 (146,999) (146,999) Balance, end of period, before effect of changes in non-performance risk 4,762,985 (917,792) 3,845,193 Effect of cumulative changes in non-performance risk (1,068,035) 0 (1,068,035) Balance, end of period $ 3,694,950 $ (917,792) $ 2,777,158 Year Ended December 31, 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 1,249,956 (147,727) 1,102,229 Claims paid (64,406) 3,456 (60,950) Interest accrual 143,483 (13,438) 130,045 Actual in force different from expected 105,996 (9,968) 96,028 Effect of changes in interest rates (7,271,427) 767,394 (6,504,033) Effect of changes in equity markets 3,103,563 (326,575) 2,776,988 Effect of assumption update (160,597) 23,171 (137,426) Effect of changes in current period counterparty non-performance risk 0 187,910 187,910 Balance, end of period, before effect of changes in non-performance risk 6,278,535 (422,261) 5,856,274 Effect of cumulative changes in non-performance risk (1,727,910) 0 (1,727,910) Balance, end of period $ 4,550,625 $ (422,261) $ 4,128,364 Year Ended December 31, 2021 Variable Annuities Less: Reinsured Market Risk Benefits Total, Net of Reinsurance (in thousands) Balance, beginning of period $ 13,577,543 $ (13,589,575) $ (12,032) Effect of cumulative changes in non-performance risk 722,837 0 722,837 Balance, beginning of period, before effect of changes in non-performance risk 14,300,380 (13,589,575) 710,805 Attributed fees collected 1,368,434 (759,997) 608,437 Claims paid (29,401) 14,648 (14,753) Interest accrual 24,824 (16,593) 8,231 Actual in force different from expected (19,290) 22,687 3,397 Effect of changes in interest rates (3,461,436) 3,240,588 (220,848) Effect of changes in equity markets (2,789,777) 2,070,833 (718,944) Effect of assumption update (221,767) 221,767 0 Other adjustments(1) 0 8,223,470 8,223,470 Effect of changes in current period counterparty non-performance risk 0 (334,312) (334,312) Balance, end of period, before effect of changes in non-performance risk 9,171,967 (906,484) 8,265,483 Effect of cumulative changes in non-performance risk (287,605) 0 (287,605) Balance, end of period $ 8,884,362 $ (906,484) $ 7,977,878 (1) Other adjustments for December 31, 2023 primarily includes $638 million related to the reinsurance transaction with AuguStar. See Note 11 for additional information. Other adjustments for December 31, 2021 includes the impact of the 2021 Variable Annuities Recapture. See Note 1 for additional information. The following table presents accompanying information to the rollforward table above. December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities ($ in thousands) Net amount at risk(1) $ 9,041,651 $ 12,141,947 $ 2,566,157 Weighted-average attained age of contractholders 70 68 66 (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: December 31, 2023 December 31, 2022 December 31, 2021 Variable Annuities (in thousands) Market risk benefit assets $ 2,367,243 $ 1,393,237 $ 1,786,565 Market risk benefit liabilities 5,144,401 5,521,601 9,764,443 Net liability $ 2,777,158 $ 4,128,364 $ 7,977,878

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2023
Reinsurance Disclosures [Abstract]
Reinsurance Impact On Balance Sheet	Reinsurance amounts included in the Company’s Consolidated Statements of Financial Position as of December 31, were as follows: 2023 2022 (in thousands) Reinsurance recoverables(1) $ 38,709,651 $ 37,096,562 Policy loans (1,082,584) (1,011,112) Deferred policy acquisition costs(1) (3,195,161) (3,343,270) Deferred sales inducements(1) (35,313) (38,146) Market risk benefit assets(1) 1,165,378 543,177 Other assets(1) 1,897,410 1,146,794 Policyholders’ account balances(1) 5,977,108 7,157,639 Future policy benefits(1) 7,026,209 6,320,863 Market risk benefit liabilities(1) 249,538 120,916 Other liabilities(1) 4,397,862 2,891,433 (1) Prior period amounts reflect 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 Consolidated Statements of Financial Position as of December 31, were as follows: 2023 2022 (in thousands) Deferred policy acquisition costs(1) $ 71,315 $ 111,379 Market risk benefit assets(1) 745,662 64,738 Other assets 1,795,422 1,034,000 Policyholders' account balances(1) 1,830,579 2,771,961 Future policy benefits 453 0 Market risk benefit liabilities(1) 131,594 40,731 Other liabilities 1,915,205 820,185 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Reinsurance Recoverables By Counterparty	Reinsurance recoverables by counterparty as of December 31, are broken out below: 2023 2022(1) (in thousands) PAR U $ 15,722,061 $ 15,051,337 PURC 7,565,968 6,928,950 PARCC 2,304,270 2,437,589 GUL Re 3,211,899 3,124,697 PAR Term 2,101,004 2,040,599 Prudential Insurance 1,311,525 986,013 Term Re 2,080,564 1,830,197 Lotus Re 2,051,831 1,952,215 DART 744,043 578,462 Unaffiliated 1,616,486 2,166,503 Total reinsurance recoverables $ 38,709,651 $ 37,096,562 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Reinsurance Impact On Income Statement	Reinsurance amounts, included in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Direct(1) $ 1,853,184 $ 1,868,709 $ 1,903,865 Assumed (61) 776 162 Ceded(1) (1,524,226) (1,604,277) (1,719,569) Net premiums(1) 328,897 265,208 184,458 Policy charges and fee income: Direct(1) 2,995,595 3,034,193 3,348,259 Assumed(1) 604,311 594,622 565,814 Ceded(1) (2,063,300) (2,398,214) (2,613,978) Net policy charges and fee income(1) 1,536,606 1,230,601 1,300,095 Net investment income: Direct 1,700,684 920,674 555,404 Assumed 1,364 1,513 1,049 Ceded (26,526) (38,186) (6,218) Net investment income(2) 1,675,522 884,001 550,235 Asset administration fees: Direct 323,444 351,600 403,359 Assumed 0 0 0 Ceded (90,494) (67,418) (201,182) Net asset administration fees 232,950 284,182 202,177 Other income (loss): Direct 636,930 (731,796) 227,035 Assumed (475) 271 (66) Ceded(1) 108,173 80,056 35,451 Net other income(1)(2) 744,628 (651,469) 262,420 2023 2022 2021 Realized investment gains (losses), net: Direct(1) (1,195,753) 497,016 (388,914) Assumed(1) 162,291 (244,000) 12,592 Ceded(1) (50,198) 83,366 (10,572) Realized investment gains (losses), net(1)(2) (1,083,660) 336,382 (386,894) Change in value of market risk benefits, net of related hedging gain (loss): Direct(1) 298,425 (181,260) 9,096,963 Assumed (2,199) 0 0 Ceded(1) (390,594) (519,321) (13,319,493) Net change in value of market risk benefits, net of related hedging gain (loss)(1) (94,368) (700,581) (4,222,530) Policyholders’ benefits (including change in reserves): Direct(1) 3,354,306 3,362,353 3,215,531 Assumed(1) 1,258,651 1,107,436 905,325 Ceded(1) (4,109,168) (4,011,416) (4,038,146) Net policyholders’ benefits (including change in reserves)(1)(2) 503,789 458,373 82,710 Change in estimates of liability for future policy benefits: Direct(1) (18,361) 1,716,983 99,202 Assumed(1) 8,644 679,863 (16,166) Ceded(1) 13,669 (2,341,747) (56,028) Net change in estimates of liability for future policy benefits(1) 3,952 55,099 27,008 Interest credited to policyholders’ account balances: Direct(1) 918,327 805,411 525,038 Assumed 136,725 74,402 138,202 Ceded(1) (399,607) (434,598) (814,629) Net interest credited to policyholders’ account balances(1) 655,445 445,215 (151,389) Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization(1) (399,870) (150,374) (2,195,677) (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting. Unaffiliated reinsurance assumed and ceded amounts included in the table above and in the Company's Consolidated Statements of Operations and Comprehensive Income (Loss) for the years ended December 31, were as follows: 2023 2022 2021 (in thousands) Premiums: Assumed(1) $ (69) $ 149 $ 162 Ceded(1) (70,169) (42,721) (26,143) Policy charges and fee income: Assumed 1,563 2,113 0 Ceded (143,764) (81,781) (65,451) Net investment income(2): Ceded 23,023 10,802 687 Asset administration fees: Ceded (22,415) 0 0 Other income (loss)(2): Assumed (211) 270 (68) Ceded(1) 37,526 3,243 0 Realized investment gains (losses), net(2): Assumed(1) 162,291 778,620 0 Ceded(1) (45,711) 82,386 80,540 Change in value of market risk benefits, net of related hedging gain (loss): Assumed(1) (2,199) 0 0 Ceded(1) (186,996) (120,663) (130,654) Policyholders' benefits (including change in reserves)(2): Assumed 804 2,566 429 Ceded(1) (157,344) (94,402) (186,927) Change in estimates of liability for future policy benefits: Ceded(1) (1,367) (6,824) 0 Interest credited to policyholders' account balances: Assumed 16,243 (95,285) 0 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts. (2) Amounts include reinsurance agreements using the deposit method of accounting.
Gross And Net Life Insurance In Force	The gross and net amounts of life insurance face amount in force as of December 31, were as follows: 2023 2022 2021 (in thousands) Direct gross life insurance face amount in force $ 1,127,561,798 $ 1,093,610,227 $ 1,079,382,740 Assumed gross life insurance face amount in force 35,558,423 36,668,045 37,822,851 Reinsurance ceded (1,027,473,705) (1,009,571,304) (992,635,327) Net life insurance face amount in force $ 135,646,516 $ 120,706,968 $ 124,570,264

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The following schedule discloses significant components of income tax expense (benefit) for each year presented: Years Ended December 31, 2023 2022 2021 (in thousands) Current tax expense (benefit): U.S. federal $ 698,170 $ (345,263) $ 440,649 State and local 14,550 4,479 5,002 Total 712,720 (340,784) 445,651 Deferred tax expense (benefit): U.S. federal(1) (683,342) 45,249 (920,437) Total (683,342) 45,249 (920,437) Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures 29,378 (295,535) (474,786) Income tax expense (benefit) on equity in earnings of operating joint ventures (109) (193) (147) Income tax expense (benefit) reported in equity related to: Other comprehensive income (loss)(1) (5,627) (106,197) (128,241) Total income tax expense (benefit) $ 23,642 $ (401,925) $ (603,174)
Schedule of Effective Income Tax Rate Reconciliation	The differences between income taxes expected at the U.S. federal statutory income tax rate of 21% applicable for 2023, 2022 and 2021, and the reported income tax expense (benefit) are summarized as follows: Years Ended December 31, 2023 2022 2021 ($ in thousands) Expected federal income tax expense (benefit)(1) $ 103,215 $ (207,292) $ (392,740) Non-taxable investment income (42,730) (46,426) (48,662) Tax credits (42,578) (47,544) (36,806) Changes in tax law 0 0 (3,644) State tax (net of federal benefit)(2) 11,495 3,538 3,952 Other(2) (24) 2,189 3,114 Reported income tax expense (benefit) $ 29,378 $ (295,535) $ (474,786) Effective tax rate(1) 6.0 % 29.9 % 25.4 %
Schedule of Deferred Tax Assets and Liabilities	Schedule of Deferred Tax Assets and Deferred Tax Liabilities December 31, 2023 2022 (in thousands) Deferred tax assets: Insurance reserves(1) $ 1,660,421 $ 1,235,687 Investments(1) 776,190 354,538 Net unrealized loss on securities(1) 296,749 481,989 Other(1) 4,723 2,801 Deferred tax assets 2,738,083 2,075,015 Deferred tax liabilities: Deferred policy acquisition cost(1) 936,929 954,953 Deferred sales inducements(1) 72,791 80,116 Deferred tax liabilities 1,009,720 1,035,069 Net deferred tax asset (liability) $ 1,728,363 $ 1,039,946 (1) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The balance of and changes in each component of AOCI as of and for the years ended December 31, are as follows: Accumulated Other Comprehensive Income (Loss) Foreign Currency 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, 2020 $ (7,797) $ 553,925 $ 0 $ 0 $ 546,128 Cumulative effect of adoption of ASU 2018-12 0 (81,364) (155,255) 571,039 334,420 Change in OCI before reclassifications(2) (3,891) (185,492) 37,274 (435,232) (587,341) Amounts reclassified from AOCI 0 (24,994) 0 0 (24,994) Income tax benefit (expense)(2) 414 44,256 (7,828) 91,399 128,241 Balance, December 31, 2021 (11,274) 306,331 (125,809) 227,206 396,454 Change in OCI before reclassifications(2) (9,337) (2,249,609) 310,351 1,440,307 (508,288) Amounts reclassified from AOCI 0 (4,428) 0 0 (4,428) Income tax benefit (expense)(2) 604 473,231 (65,174) (302,464) 106,197 Balance, December 31, 2022 (20,007) (1,474,475) 119,368 1,365,049 (10,065) Change in OCI before reclassifications 2,419 677,735 (60,978) (659,875) (40,699) Amounts reclassified from AOCI 0 14,217 0 0 14,217 Income tax benefit (expense) (497) (145,255) 12,805 138,574 5,627 Balance, December 31, 2023 $ (18,085) $ (927,778) $ 71,195 $ 843,748 $ (30,920) (1) Includes cash flow hedges of $12 million, $139 million, and $40 million as of December 31, 2023, 2022 and 2021, respectively. (2) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.
Reclassification out of Accumulated Other Comprehensive Income (Loss)	Reclassifications out of Accumulated Other Comprehensive Income (Loss) Years Ended December 31, 2023 2022 2021 (in thousands) Amounts reclassified from AOCI(1)(2): Net unrealized investment gains (losses): Cash flow hedges—Currency/Interest rate(3) $ 16,976 $ 78,433 $ 28,508 Net unrealized investment gains (losses) on available-for-sale securities (31,193) (74,005) (3,514) Total net unrealized investment gains (losses)(4) (14,217) 4,428 24,994 Total reclassifications for the period $ (14,217) $ 4,428 $ 24,994 (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 future policy benefits, policyholders’ account balances and other liabilities.
OTTI, Allowance and All Other Net Unrealized Investment Gains (Losses) AOCI Rollforward	Net Unrealized Investment Gains (Losses) on Available-for-Sale Fixed Maturity Securities on Which an Allowance for Credit Losses has been Recognized Net Unrealized Gains (Losses) on All Other Investments(1) Other Costs(2) Future Policy Income Tax Accumulated (in thousands) Balance, December 31, 2020 $ 0 $ 849,349 $ 1,200,048 $ (1,348,231) $ (147,241) $ 553,925 Cumulative effect of adoption of ASU 2018-12 0 (1,000) (89,160) (12,880) 21,677 (81,363) Net investment gains (losses) on investments arising during the period 2,951 (240,903) 0 0 50,016 (187,936) Reclassification adjustment for (gains) losses included in net income (8) (24,986) 0 0 5,254 (19,740) Reclassification due to allowance for credit losses recorded during the period 742 (742) 0 0 0 0 Impact of net unrealized investment (gains) losses(4) 0 0 (275,458) 327,917 (11,014) 41,445 Balance, December 31, 2021 3,685 581,718 835,430 (1,033,194) (81,308) 306,331 Net investment gains (losses) on investments arising during the period (149) (2,737,481) 0 0 574,760 (2,162,870) Reclassification adjustment for (gains) losses included in net income 831 (5,259) 0 0 930 (3,498) Reclassification due to allowance for credit losses recorded during the period 4 (4) 0 0 0 0 Impact of net unrealized investment (gains) losses(4) 0 0 (2,033,852) 2,521,873 (102,459) 385,562 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 (4,482) 744,727 0 0 (155,393) 584,852 Reclassification adjustment for (gains) losses included in net income (265) 14,482 0 0 (2,984) 11,233 Reclassification due to allowance for credit losses recorded during the period 2,363 (2,363) 0 0 0 0 Impact of net unrealized investment (gains) losses 0 0 397,071 (459,581) 13,122 (49,388) Balance, December 31, 2023 $ 1,987 $ (1,404,180) $ (801,351) $ 1,029,098 $ 246,668 $ (927,778) (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. (3) "Other liabilities" primarily includes reinsurance payables. (4) Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Statutory Net Income and Surp_2

Statutory Net Income and Surplus and Dividend Restrictions (Tables)	12 Months Ended
	Dec. 31, 2023
Insurance [Abstract]
Statutory Net Income and Surplus and Dividend Restrictions	The following table summarizes certain statutory financial information for the Company, including its subsidiary PLNJ, for the periods indicated: Years Ended December 31, 2023 2022 2021 (in millions) Statutory net income (loss)(1) $ 4,923 $ 3,317 $ 833 Statutory capital and surplus(1) 5,161 5,205 5,955 (1) 2022 amounts include adjustments made to the audited statutory financial statements as of December 31, 2022.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Affiliated Notes Receivable	Affiliated notes receivable included in “Receivables from parent and affiliates” at December 31, were as follows: Maturity Dates Interest Rates 2023 2022 (in thousands) U.S. dollar fixed rate notes 2025 - 2027 0.00% - 14.85 % $ 147,984 $ 148,076 Total notes receivable - affiliated(1) $ 147,984 $ 148,076 (1) All notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances.
Affiliated Commercial Mortgage Loans	The following table sets forth the composition of “Commercial mortgage and other loans” as of the dates indicated: December 31, 2023 December 31, 2022 Amount % of Amount % of Commercial mortgage and agricultural property loans by property type: Apartments/Multi-Family $ 1,578,785 25.7 % $ 1,289,026 26.0 % Hospitality 102,952 1.7 104,177 2.1 Industrial 2,486,230 40.4 1,766,247 35.8 Office 604,611 9.8 590,897 11.9 Other 456,720 7.4 380,121 7.7 Retail 363,706 5.9 351,457 7.1 Total commercial mortgage loans 5,593,004 90.9 4,481,925 90.6 Agricultural property loans 562,046 9.1 467,018 9.4 Total commercial mortgage and agricultural property loans 6,155,050 100.0 % 4,948,943 100.0 % Allowance for credit losses (37,689) (20,263) Net commercial mortgage and agricultural property loans 6,117,361 4,928,680 Other loans: Other collateralized loans 5,360 0 Total other loans 5,360 0 Net commercial mortgage and other loans $ 6,122,721 $ 4,928,680 The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at December 31, was as follows: Maturity Date Interest Rate 2023 2022 (in thousands) Affiliated Commercial Mortgage Loan 2025 9.85% $ 71,038 $ 72,225
Affiliated Asset Transfers	The table below shows affiliated asset trades for the years ended December 31, 2023 and 2022. Affiliate Date Transaction Security Type Fair Book Value APIC, Net 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 Prudential Insurance September 2023 Purchase Fixed Maturities $ 15,880 $ 15,801 $ (62) $ 0 Prudential Insurance December 2023 Sale Commercial Mortgage and Other Loans $ 762 $ 754 $ 0 $ 8
Debt Agreements	The following table provides the breakout of the Company's short-term debt. There is no long-term debt to affiliates as of December 31, 2023. Affiliate Date Issued Amount of Notes - December 31, 2023 Amount of Notes - December 31, 2022 Interest Date of Maturity (in thousands) Prudential Insurance 8/13/2021 $ 0 $ 96,666 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 0 29,000 4.39 % 12/15/2023 Prudential Insurance 8/13/2021 94,953 97,665 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 37,981 39,066 3.95 % 6/20/2024 Prudential Insurance 8/13/2021 47,477 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 Total Loans Payable to Affiliates(1) $ 180,411 $ 311,813 (1) Includes $180 million of loans reclassified as current portion of long-term debt as of December 31, 2023.

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Guarantees	Guarantees of Asset Values December 31, 2023 2022 (in thousands) Guaranteed value of third-party assets $ 311,302 $ 0 Fair value of collateral supporting these assets $ 287,621 $ 0 Asset (liability) associated with guarantee, carried at fair value $ 1 $ 0

Business and Basis of Present_3

Business and Basis of Presentation (Narrative) (Details) $ in Thousands			12 Months Ended					24 Months Ended
	Dec. 01, 2021 USD ($)	Jul. 01, 2021 USD ($)	Dec. 31, 2023 USD ($) subsidiary	Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)		Dec. 31, 2022 USD ($)		Dec. 31, 2020 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number Of Subsidiaries | subsidiary			1
Adoption of ASU 2018-12 for LDTI								Accounting Standards Update 2018-12
Effects of Reinsurance [Line Items]
Total assets			$ 213,309,041	$ 193,473,118				$ 193,473,118
Loss related to ceding commissions			1,536,606	1,230,601	[1]	$ 1,300,095	[1]
Reinsurance recoverable			639,002	2,254,290	[2]	1,134,683	[2]
Capital contributions received				0		776,657
Reinsurance recoverables			38,709,651	37,096,562				37,096,562
Policyholders’ account balances			$ 53,012,800	41,912,536	[3]	35,730,680		41,912,536	[3]
Variable Annuties
Effects of Reinsurance [Line Items]
Policyholders’ account balances				16,432,032		11,465,411		16,432,032		$ 3,634,125
Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Reinsurance recoverable		$ (11,600,000)
Net deferred reinsurance loss		(200,000)
Pre-tax loss		(2,900,000)
Fixed Annuities
Effects of Reinsurance [Line Items]
Policyholders’ account balances				$ 3,575,823		3,005,867		$ 3,575,823		$ 379,981
Investments | Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Non-cash activities		8,300,000
PALAC | Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Total assets		6,800,000
Loss related to ceding commissions		(2,000,000)
PALAC | Investments | Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Loss related to ceding commissions		(2,000,000)
Prudential Insurance | Additional paid-in capital | Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Capital contributions received		3,800,000
Non-cash activities		3,400,000
Cash		$ 400,000
Affiliated Entity | FLIAC | Variable Annuties | Impacts of Recapture
Effects of Reinsurance [Line Items]
Net deferred reinsurance loss	$ (238,000)
Reinsurance recoverables						7,200,000
Affiliated Entity | FLIAC | Fixed Annuities | Impacts of Recapture
Effects of Reinsurance [Line Items]
Policyholders’ account balances						$ 9,800,000
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[3]Prior period amounts reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_4

Business and Basis of Presentation (Summary of Adoption of New Guidance on Consolidated Statement of Financial Position) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred policy acquisition costs	$ 7,097,511	$ 6,930,425	[1]	$ 7,029,308	$ 2,493,082	$ 2,493,082
Reinsurance recoverables	38,709,651	37,096,562
Deferred sales inducements	351,424	381,504	[1]
Income tax assets	1,737,651	1,694,751	[1]
Market risk benefits assets	2,367,243	1,393,237	[1]
Other assets	2,078,938	1,331,427	[1]
TOTAL ASSETS	213,309,041	193,473,118
Policyholders’ account balances	53,012,800	41,912,536	[1]	35,730,680
Future policy benefits	23,205,205	20,829,033	[1]	$ 21,510,749
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Other liabilities	5,170,308	3,597,373	[1]
Total liabilities	208,787,616	188,436,923
Retained Earnings (accumulated deficit)	(532,951)	(994,154)	[1]
Accumulated other comprehensive income (loss)	(30,920)	(10,065)	[1]
Equity, Attributable to Parent	4,491,231	5,036,195
TOTAL LIABILITIES AND EQUITY	$ 213,309,041	193,473,118
As Originally 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)
Equity, Attributable to Parent		4,363,531
TOTAL LIABILITIES AND EQUITY		189,299,841
Effect of Change
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
Equity, Attributable to Parent		672,664
TOTAL LIABILITIES AND EQUITY		$ 4,173,277
[1]Prior period amounts reflect 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 Consolidated Statement of Operations) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
REVENUES
Premiums		$ 328,897	$ 265,208	[1]	$ 184,458	[1]
Policy charges and fee income		1,536,606	1,230,601	[1]	1,300,095	[1]
Other Income (loss)		744,628	(651,469)	[1]	262,420	[1]
Realized investment gains (losses), net		(1,083,660)	336,382	[2]	(386,894)	[1]
Change in value of market risk benefits, net of related hedging gain (losses)		(94,368)	(700,581)	[1]	(4,222,530)	[2]
TOTAL REVENUES		3,340,575	1,648,324		(2,110,039)
BENEFITS AND EXPENSES
Policyholders’ benefits		503,789	458,373	[1]	82,710	[1]
Change in estimates of liability for future policy benefits		3,952	55,099		27,008
Interest credited to policyholders’ account balances		655,445	445,215	[1]
Interest credited to policyholders’ account balances	[1]				(151,389)
Amortization of deferred policy acquisition costs		534,435	520,276	[1]	325,595	[1]
General, administrative and other expenses		1,151,452	1,156,464	[1]
General, administrative and other expenses	[1]				(523,774)
TOTAL BENEFITS AND EXPENSES					(239,850)
TOTAL BENEFITS AND EXPENSES		2,849,073	2,635,427
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE		491,502	(987,103)		(1,870,189)
Income tax expense (benefit)		29,378	(295,535)	[1]	(474,786)	[1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE		462,124	(691,568)		(1,395,403)
NET INCOME (LOSS)		461,691	(766,705)	[2]	(1,394,701)	[2]
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)			(2,254,037)		(210,486)
Interest rate remeasurement of future policy benefits			310,353		37,274
Gain (loss) from changes in non-performance risk on market risk benefits			1,440,305		(435,232)
Total		(26,482)	(512,716)		(612,335)
Less: Income tax expense (benefit) related to other comprehensive income (loss)		(5,627)	(106,197)		(128,241)
Other comprehensive income (loss), net of taxes		(20,855)	(406,519)		(484,094)
Total Comprehensive Income (Loss)		$ 440,348	(1,173,224)		(1,878,795)
As Originally Reported
REVENUES
Premiums			274,783		203,676
Policy charges and fee income			1,731,957		1,529,757
Other Income (loss)			(661,860)		267,208
Realized investment gains (losses), net			1,041,435		(5,295,406)
Change in value of market risk benefits, net of related hedging gain (losses)			0		0
TOTAL REVENUES			3,554,498		(2,542,353)
BENEFITS AND EXPENSES
Policyholders’ benefits			609,392		655,910
Change in estimates of liability for future policy benefits			0		0
Interest credited to policyholders’ account balances			517,488
Interest credited to policyholders’ account balances					(114,585)
Amortization of deferred policy acquisition costs			857,385		342,118
General, administrative and other expenses			1,154,229
General, administrative and other expenses					(523,925)
TOTAL BENEFITS AND EXPENSES			3,138,494		359,518
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE			416,004		(2,901,871)
Income tax expense (benefit)			(882)		(691,439)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			416,886		(2,210,432)
NET INCOME (LOSS)			341,749		(2,209,730)
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)			(2,430,238)		(247,176)
Interest rate remeasurement of future policy benefits			0		0
Gain (loss) from changes in non-performance risk on market risk benefits			0		0
Total			(2,439,575)		(251,067)
Less: Income tax expense (benefit) related to other comprehensive income (loss)			(510,840)		(52,374)
Other comprehensive income (loss), net of taxes			(1,928,735)		(198,693)
Total Comprehensive Income (Loss)			(1,586,986)		(2,408,423)
Effect of Change
REVENUES
Premiums			(9,575)		(19,218)
Policy charges and fee income			(501,356)		(229,662)
Other Income (loss)			10,391		(4,788)
Realized investment gains (losses), net			(705,053)		4,908,512
Change in value of market risk benefits, net of related hedging gain (losses)			(700,581)		(4,222,530)
TOTAL REVENUES			(1,906,174)		432,314
BENEFITS AND EXPENSES
Policyholders’ benefits			(151,019)		(573,200)
Change in estimates of liability for future policy benefits			55,099		27,008
Interest credited to policyholders’ account balances			(72,273)
Interest credited to policyholders’ account balances					(36,804)
Amortization of deferred policy acquisition costs			(337,109)		(16,523)
General, administrative and other expenses			2,235
General, administrative and other expenses					151
TOTAL BENEFITS AND EXPENSES			(503,067)		(599,368)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE			(1,403,107)		1,031,682
Income tax expense (benefit)			(294,653)		216,653
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE			(1,108,454)		815,029
NET INCOME (LOSS)			(1,108,454)		815,029
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)			176,201		36,690
Interest rate remeasurement of future policy benefits			310,353		37,274
Gain (loss) from changes in non-performance risk on market risk benefits			1,440,305		(435,232)
Total			1,926,859		(361,268)
Less: Income tax expense (benefit) related to other comprehensive income (loss)			404,643		(75,867)
Other comprehensive income (loss), net of taxes			1,522,216		(285,401)
Total Comprehensive Income (Loss)			$ 413,762		$ 529,628
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_6

Business and Basis of Presentation (Summary of Adoption of New Guidance on Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)	$ 461,691	$ (766,705)	[1]	$ (1,394,701)	[1]
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income	69,986	131,936	[1]	165,675	[1]
Interest credited to policyholders’ account balances	655,445	445,215	[1]	(151,389)	[1]
Realized investment gains (losses), net	1,083,660	(336,382)	[1]	386,894	[2]
Change in value of market risk benefits, net of related hedging (gains) losses	94,368	700,581	[2]	4,222,530	[1]
Change in:
Future policy benefits and other insurance liabilities	2,241,530	3,743,780	[1]	1,831,520	[1]
Reinsurance recoverables	(639,002)	(2,254,290)	[1]	(1,134,683)	[1]
Deferred policy acquisition costs	(560,471)	(442,303)	[1]	(4,067,946)	[1]
Income taxes	(37,886)	(334,769)	[1]	(842,107)	[1]
Other, net	(395,372)	1,567,947	[1]	1,376,588	[1]
Net Cash Provided by (Used in) Operating Activities	$ 2,459,895	1,824,964		(883,941)
As Originally Reported
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)		341,749		(2,209,730)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income		(78,754)		(21,763)
Interest credited to policyholders’ account balances		517,488		(114,585)
Realized investment gains (losses), net		(1,041,435)		5,295,406
Change in value of market risk benefits, net of related hedging (gains) losses		0		0
Change in:
Future policy benefits and other insurance liabilities		2,407,887		2,080,967
Reinsurance recoverables		(1,181,692)		(1,304,306)
Deferred policy acquisition costs		(105,194)		(3,926,121)
Income taxes		(40,095)		(1,082,459)
Other, net		1,635,056		1,674,972
Net Cash Provided by (Used in) Operating Activities		1,824,964		(883,941)
Effect of Change
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss)		(1,108,454)		815,029
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Policy charges and fee income		210,690		187,438
Interest credited to policyholders’ account balances		(72,273)		(36,804)
Realized investment gains (losses), net		705,053		(4,908,512)
Change in value of market risk benefits, net of related hedging (gains) losses		700,581		4,222,530
Change in:
Future policy benefits and other insurance liabilities		1,335,893		(249,447)
Reinsurance recoverables		(1,072,598)		169,623
Deferred policy acquisition costs		(337,109)		(141,825)
Income taxes		(294,674)		240,352
Other, net		(67,109)		(298,384)
Net Cash Provided by (Used in) Operating Activities		$ 0		$ 0
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_7

Business and Basis of Presentation (Affiliated Asset Transfers) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 01, 2021	Dec. 31, 2023	Dec. 31, 2022	[1]	Dec. 31, 2021	[2]
Effects of Reinsurance [Line Items]
Realized investment gains (losses), net		$ (1,083,660)	$ 336,382		$ (386,894)
Variable Annuties | Impacts of Recapture | PALAC July 2021 Purchase | Affiliated Entity
Effects of Reinsurance [Line Items]
Fair Value	$ 4,908,000
Book Value	4,908,000
APIC/Retained Earnings Increase/(Decrease)	0
Realized investment gains (losses), net	0
Derivative, Gain (Loss)	0
Variable Annuties | Impacts of Recapture | Prudential Insurance July 2021 Contributed Capital | Affiliated Entity
Effects of Reinsurance [Line Items]
Fair Value	3,420,000
Book Value	3,420,000
APIC/Retained Earnings Increase/(Decrease)	3,420,000
Realized investment gains (losses), net	0
Derivative, Gain (Loss)	$ 0
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Present_8

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 Originally Reported
Retained Earnings Transition Adjustment [Roll Forward]
Balance after-tax, prior to transition	1,772,398
Effect of Change
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_9

Business and Basis of Presentation (Transition Adjustment Roll Forward Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands			12 Months Ended
		Jan. 01, 2021	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning balance	[1]		$ (10,065)
Ending balance			(30,920)	$ (10,065)	[1]
Accumulated Other   Comprehensive  Income (Loss)
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning balance		$ 546,128	(10,065)	396,454		$ 546,128
Ending balance		880,548	(30,920)	(10,065)		396,454
As Originally Reported
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning balance			(1,581,300)
Ending balance				(1,581,300)
As Originally Reported | Accumulated Other   Comprehensive  Income (Loss)
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning balance		546,128				$ 546,128
Effect of Change
Accumulated Other Comprehensive Income Transition Adjustment [Roll Forward]
Beginning balance			$ 1,571,235
Ending balance				$ 1,571,235
Effect of Change | Accumulated Other   Comprehensive  Income (Loss)
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 reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Presen_10

Business and Basis of Presentation (Schedule of Deferred Policy Acquisition Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Deferred Policy Acquisition Cost [Line Items]
Balance	$ 7,097,511	$ 6,930,425	[1]	$ 7,029,308	$ 2,493,082	$ 2,493,082
As Originally Reported
Deferred Policy Acquisition Cost [Line Items]
Balance		6,616,097				2,433,936
Effect of Change
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	743,888	648,837		577,084	462,099	462,099
Term Life | As Originally Reported
Deferred Policy Acquisition Cost [Line Items]
Balance						462,098
Term Life | Effect of Change
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	$ 2,897,925	$ 2,442,883		$ 2,561,011	2,030,983	2,030,983
Variable / Universal Life | As Originally Reported
Deferred Policy Acquisition Cost [Line Items]
Balance						$ 1,971,838
Variable / Universal Life | Effect of Change
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 reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Business and Basis of Presen_11

Business and Basis of Presentation (Shedule of Deferred Reinsurance) (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Dec. 31, 2020
Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 362,347
As Originally 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 Annuties | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance	274,415
Variable Annuties | As Originally Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance		118,579
Variable Annuties | 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 Annuties | 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 Annuties | 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 | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance	87,932
Term Life | As Originally 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 Originally Reported | Deferred Reinsurance Losses
Liability for Future Policy Benefit, Activity [Line Items]
Balance		27,167
Variable / Universal Life | As Originally 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_12

Business and Basis of Presentation (Liability for Future Policy Benefit-Benefits Reserve) (Details) - Benefit Reserves - USD ($) $ in Thousands	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Balance	$ 8,522,254
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance	14,299,073
Reinsurance recoverable	13,728,627
Balance after transition, net of reinsurance recoverable	570,446
As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		$ 8,486,563
Changes in cash flow assumptions and other activity
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	35,691
Cumulative changes in discount rate assumptions
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	6,674,231
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance	9,106,241
Reinsurance recoverable	8,536,200
Balance after transition, net of reinsurance recoverable	570,041
Term Life | As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		6,674,490
Term Life | Changes in cash flow assumptions and other activity
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	(259)
Term Life | Cumulative changes in discount rate assumptions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	2,432,010
Life Insurance - Taiwan
Liability for Future Policy Benefit, Activity [Line Items]
Balance	1,635,562
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance	4,952,553
Reinsurance recoverable	4,952,553
Balance after transition, net of reinsurance recoverable	0
Life Insurance - Taiwan | As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		1,592,329
Life Insurance - Taiwan | Changes in cash flow assumptions and other activity
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
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	3,316,991
Other
Liability for Future Policy Benefit, Activity [Line Items]
Balance	212,461
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance	240,279
Reinsurance recoverable	239,874
Balance after transition, net of reinsurance recoverable	405
Other | As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		$ 219,744
Other | Changes in cash flow assumptions and other activity
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	(7,283)
Other | Cumulative changes in discount rate assumptions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	$ 27,818

Business and Basis of Presen_13

Business and Basis of Presentation (Liability for Future Policy Benefit-Deferred Profit Liability) (Details) - Deferred Profit Liaibility - USD ($) $ in Thousands	Jan. 01, 2021	Dec. 31, 2020
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 transition, net of reinsurance recoverable	0
As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		$ 50,816
Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Change in benefit reserves	1,850
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 transition, net of reinsurance recoverable	0
Life Insurance - Taiwan | As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		49,127
Life Insurance - Taiwan | Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Change in benefit reserves	(6,671)
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 transition, net of reinsurance recoverable	0
Other | As Originally Reported
Liability for Future Policy Benefit, Activity [Line Items]
Balance		$ 1,689
Other | Changes in benefit reserves
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Change in benefit reserves	$ 8,521

Business and Basis of Presen_14

Business and Basis of Presentation (Additional Insurance Reserves) (Details) - Additional Insurance Reserves - USD ($) $ in Thousands	Jan. 01, 2021	Dec. 31, 2020
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 transition, net of reinsurance recoverable	192,937
As Originally 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
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)
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)
Updates to certain universal life contract liabilities
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Cash flow change	1,771,341
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 transition, net of reinsurance recoverable	192,937
Variable / Universal Life | As Originally 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
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)
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
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
Variable Annuties
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 transition, net of reinsurance recoverable	0
Variable Annuties | As Originally 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
Variable Annuties | 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)
Variable Annuties | 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)
Variable Annuties | 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_15

Business and Basis of Presentation (Unearned Revenue Reserves) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 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	$ 14,280,792	$ 12,664,445	$ 11,660,527		$ 10,878,087
Unwinding amounts related to unrealized investment gains and losses and other activity		34,021	(223,185)		53,125
Less: Reinsurance recoverable	14,054,600	12,458,184	11,419,340
Balance after transition, net of reinsurance recoverable	$ 226,192	$ 206,261	$ 241,187
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 recoverable				751,517
Balance after transition, net of reinsurance recoverable				993,751
Variable / Universal Life | As Originally 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_16

Business and Basis of Presentation (Market Risk Benefit, Activity) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Variable Annuties
Market Risk Benefit [Roll Forward]
Net liabilities	$ 4,550,625	$ 8,884,362	$ (12,032)	$ 13,577,543
Variable Annuties | As Originally Reported
Market Risk Benefit [Roll Forward]
Net liabilities				$ 13,227,814
Variable Annuties | 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 liabilities			534,422
Variable Annuties | Total liability prior to transition
Market Risk Benefit [Roll Forward]
Net liabilities			13,762,236
Variable Annuties | Change in reserve basis to market risk benefits framework
Market Risk Benefit [Roll Forward]
Net liabilities			(184,693)
Variable Annuties | Market risk benefits after transition, at current non-performance risk value
Market Risk Benefit [Roll Forward]
Net liabilities			13,577,543
Variable Annuties | Less: Reinsured market risk benefits
Market Risk Benefit [Roll Forward]
Net liabilities			13,589,575
Variable Annuties | Market risk benefits after transition, at contract inception non-performance risk value
Market Risk Benefit [Roll Forward]
Net liabilities			13,577,543
Variable Annuties | Cumulative change in non-performance risk
Market Risk Benefit [Roll Forward]
Net liabilities			722,837
Individual Variable | Market risk benefits after transition, at contract inception non-performance risk value | Retirement Strategies
Market Risk Benefit [Roll Forward]
Net liabilities			$ 14,300,380

Business and Basis of Presen_17

Business and Basis of Presentation (Cost Of Reinsurance) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 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	$ 14,280,792	$ 12,664,445	$ 11,660,527		$ 10,878,087
Unwinding amounts related to unrealized investment gains and losses and other activity		34,021	(223,185)		53,125
Amounts related to unrealized investment gains and losses after transition	14,054,600	12,458,184	11,419,340
Balance after transition	$ 226,192	$ 206,261	$ 241,187
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 Originally 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 (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Jan. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2021 USD ($)
Accounting Policies [Abstract]
Commercial mortgage and other loans, Loan-to-value ratios (greater than)	100%
Commercial mortgage and other loans, Loan-to-value ratios (less than)	100%
Commercial mortgage and other loans, Debt service coverage ratios (less than)	1
Commercial mortgage and agricultural mortgage loans, Debt service coverage ratios (greater than)	1
Uncertain tax positions measurement percentage (greater than)	50%
Securities Loaned Transactions Collateral Fair Value of Domestic Securities	102%
Securities Loaned Transactions Collateral Fair Value of Foreign Securities	105%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity, Attributable to Parent	$ 4,491,231,000		$ 5,036,195,000
Effect of Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity, Attributable to Parent			$ 672,664,000
Effect of Change | Accounting Standards Update 2018-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity, Attributable to Parent		$ 673,000,000		$ (271,000,000)
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net To Gross Ratio	1
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Repurchase and Resale Agreements, Collateral, Percentage	95%
Minimum   | Liability for Future Policy Benefit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for Future Policy Benefits, cohort level and balance floored	$ 0
Minimum   | Deferred Profit Liability
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability for Future Policy Benefits, cohort level and balance floored	$ 0

Investments (Fixed Maturities S

Investments (Fixed Maturities Securities Excluding Investments Classified as Trading) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 27,538,066	$ 21,311,087
Gross Unrealized Gains	335,759	72,582
Gross Unrealized Losses	1,740,037	2,353,499
Allowance for credit losses	2,008	4,769
Fair Value	26,131,780	19,025,401
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,009,937	354,348
Gross Unrealized Gains	38,858	300
Gross Unrealized Losses	73,508	72,856
Allowance for credit losses	0	0
Fair Value	975,287	281,792
Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	789,856	654,884
Gross Unrealized Gains	5,288	4,275
Gross Unrealized Losses	18,517	30,959
Allowance for credit losses	0	0
Fair Value	776,627	628,200
Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	330,830	330,967
Gross Unrealized Gains	1,840	1,140
Gross Unrealized Losses	50,684	58,640
Allowance for credit losses	0	5
Fair Value	281,986	273,462
U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,159,089	7,414,790
Gross Unrealized Gains	98,047	21,299
Gross Unrealized Losses	760,274	992,145
Allowance for credit losses	950	0
Fair Value	9,495,912	6,443,944
U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,207,699	4,140,734
Gross Unrealized Gains	37,435	13,071
Gross Unrealized Losses	254,828	335,205
Allowance for credit losses	812	1,871
Fair Value	4,989,494	3,816,729
Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,809,347	1,539,172
Gross Unrealized Gains	12,658	2,455
Gross Unrealized Losses	115,673	163,384
Allowance for credit losses	238	21
Fair Value	1,706,094	1,378,222
Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,902,391	4,338,585
Gross Unrealized Gains	109,806	19,761
Gross Unrealized Losses	381,215	589,153
Allowance for credit losses	0	2,863
Fair Value	4,630,982	3,766,330
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,016,028	1,467,955
Gross Unrealized Gains	23,035	6,976
Gross Unrealized Losses	11,512	32,577
Allowance for credit losses	1	0
Fair Value	2,027,550	1,442,354
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	913,347	727,159
Gross Unrealized Gains	4,776	94
Gross Unrealized Losses	66,345	69,101
Allowance for credit losses	0	0
Fair Value	851,778	658,152
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	399,542	342,493
Gross Unrealized Gains	4,016	3,211
Gross Unrealized Losses	7,481	9,479
Allowance for credit losses	7	9
Fair Value	396,070	$ 336,216
Fixed maturities | U.S. Treasury securities and obligations of U.S. government authorities and agencies
Debt Securities, Available-for-sale [Line Items]
Fair Value	975,287
Fixed maturities | Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Fair Value	776,627
Fixed maturities | Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	281,986
Fixed maturities | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	2,027,550
Fixed maturities | Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	851,778
Fixed maturities | Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 396,070

Investments (Fair Value and Los

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	$ 2,492,369	$ 10,575,622
Less than Twelve Months, Gross Unrealized Losses	39,568	925,410
Twelve Months or More Fair Value	13,312,102	5,707,596
Twelve Months or More, Gross Unrealized Losses	1,699,993	1,428,069
Total, Fair Value	15,804,471	16,283,218
Total, Gross Unrealized Losses	1,739,561	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	98,174	212,991
Less than Twelve Months, Gross Unrealized Losses	945	46,928
Twelve Months or More Fair Value	214,889	62,630
Twelve Months or More, Gross Unrealized Losses	72,563	25,928
Total, Fair Value	313,063	275,621
Total, Gross Unrealized Losses	73,508	72,856
Obligations of U.S. states and their political subdivisions
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	83,729	307,734
Less than Twelve Months, Gross Unrealized Losses	293	16,851
Twelve Months or More Fair Value	218,375	61,915
Twelve Months or More, Gross Unrealized Losses	18,224	14,108
Total, Fair Value	302,104	369,649
Total, Gross Unrealized Losses	18,517	30,959
Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	10,226	139,577
Less than Twelve Months, Gross Unrealized Losses	116	19,435
Twelve Months or More Fair Value	233,757	111,371
Twelve Months or More, Gross Unrealized Losses	50,568	39,205
Total, Fair Value	243,983	250,948
Total, Gross Unrealized Losses	50,684	58,640
U.S. public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	782,904	3,873,275
Less than Twelve Months, Gross Unrealized Losses	10,009	389,937
Twelve Months or More Fair Value	5,201,353	1,979,725
Twelve Months or More, Gross Unrealized Losses	750,265	602,208
Total, Fair Value	5,984,257	5,853,000
Total, Gross Unrealized Losses	760,274	992,145
U.S. private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	707,674	2,506,932
Less than Twelve Months, Gross Unrealized Losses	16,613	157,853
Twelve Months or More Fair Value	2,794,697	948,686
Twelve Months or More, Gross Unrealized Losses	238,181	177,352
Total, Fair Value	3,502,371	3,455,618
Total, Gross Unrealized Losses	254,794	335,205
Foreign public corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	92,955	548,083
Less than Twelve Months, Gross Unrealized Losses	1,063	40,508
Twelve Months or More Fair Value	948,963	596,437
Twelve Months or More, Gross Unrealized Losses	114,169	122,856
Total, Fair Value	1,041,918	1,144,520
Total, Gross Unrealized Losses	115,232	163,364
Foreign private corporate securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	429,212	1,772,413
Less than Twelve Months, Gross Unrealized Losses	8,035	199,124
Twelve Months or More Fair Value	2,461,367	1,479,608
Twelve Months or More, Gross Unrealized Losses	373,180	390,029
Total, Fair Value	2,890,579	3,252,021
Total, Gross Unrealized Losses	381,215	589,153
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	208,970	625,710
Less than Twelve Months, Gross Unrealized Losses	1,761	15,146
Twelve Months or More Fair Value	532,814	289,581
Twelve Months or More, Gross Unrealized Losses	9,750	17,431
Total, Fair Value	741,784	915,291
Total, Gross Unrealized Losses	11,511	32,577
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	42,621	459,186
Less than Twelve Months, Gross Unrealized Losses	298	30,408
Twelve Months or More Fair Value	580,931	176,349
Twelve Months or More, Gross Unrealized Losses	66,047	38,693
Total, Fair Value	623,552	635,535
Total, Gross Unrealized Losses	66,345	69,101
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than Twelve Months, Fair Value	35,904	129,721
Less than Twelve Months, Gross Unrealized Losses	435	9,220
Twelve Months or More Fair Value	124,956	1,294
Twelve Months or More, Gross Unrealized Losses	7,046	259
Total, Fair Value	160,860	131,015
Total, Gross Unrealized Losses	$ 7,481	$ 9,479

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Loans acquired	$ 0	$ 27,600
Loans sold	0	24,800
Fixed Maturity Purchased with Credit Deterioration	0	0
Securities sold under agreements to repurchase	$ 0	$ 0
Commercial mortgage loans, Percentage	100%	100%
Commercial mortgage and other loans purchased with credit deterioration	$ 0	$ 0
Fixed maturities, available-for-sale	26,131,780	19,025,401
Fixed maturities, trading	2,796,446	1,936,159
Fair value of collateral that could be sold or repledged	25,000	290,000
Assets Deposited With Governmental Authorities	3,600	3,900
Gross Unrealized Losses	1,739,561	2,353,479
Twelve Months or More, Gross Unrealized Losses	1,699,993	1,428,069
Carrying value of non-income producing assets
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale	9,200
Fixed maturities, trading	1,000
Fixed maturities | Trading
Schedule of Investments [Line Items]
Fixed maturities, trading	2,796,446
NAIC high or highest quality rating | Fixed maturities
Schedule of Investments [Line Items]
Gross Unrealized Losses	1,633,900	2,164,100
NAIC other than high or highest quality rating | Fixed maturities
Schedule of Investments [Line Items]
Gross Unrealized Losses	$ 105,700	189,400
California
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	28%
Texas
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	12%
Colorado
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	5%
Europe
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	10%
Mexico
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	1%
Australia
Schedule of Investments [Line Items]
Commercial mortgage loans, Percentage	1%
Other Income | Fixed maturities | Trading
Schedule of Investments [Line Items]
Unrealized Gain (Loss) on Investments	$ 65,600	(728,600)	$ 156,100
Other Income | Equity securities
Schedule of Investments [Line Items]
Unrealized Gain (Loss) on Investments	25,800	(10,200)	$ 2,100
Fixed maturities
Schedule of Investments [Line Items]
Twelve Months or More, Gross Unrealized Losses	$ 1,700,000	$ 1,428,100

Investments (Amortized Cost and

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 553,892
Due after one year through five years	8,444,655
Due after five years through ten years	7,626,127
Due after ten years	7,584,475
Amortized Cost	27,538,066	$ 21,311,087
Fair Value
Due in one year or less	546,321
Due after one year through five years	8,239,529
Due after five years through ten years	7,378,674
Due after ten years	6,691,858
Fair Value	26,131,780	19,025,401
Asset-backed securities
Amortized Cost
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Amortized Cost	2,016,028
Amortized Cost	2,016,028	1,467,955
Fair Value
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Fair Value	2,027,550
Fair Value	2,027,550	1,442,354
Commercial mortgage-backed securities
Amortized Cost
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Amortized Cost	913,347
Amortized Cost	913,347	727,159
Fair Value
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Fair Value	851,778
Fair Value	851,778	658,152
Residential mortgage-backed securities
Amortized Cost
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Amortized Cost	399,542
Amortized Cost	399,542	342,493
Fair Value
Debt Securities, Available-for-sale,Maturity, without Single Maturity Date,Fair Value	396,070
Fair Value	396,070	$ 336,216
Fixed maturities | Asset-backed securities
Fair Value
Fair Value	2,027,550
Fixed maturities | Commercial mortgage-backed securities
Fair Value
Fair Value	851,778
Fixed maturities | Residential mortgage-backed securities
Fair Value
Fair Value	$ 396,070

Investments (Fixed Maturities_2

Investments (Fixed Maturities Securities Proceeds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Proceeds from maturities/prepayments	$ 1,736,809	$ 1,688,079	$ 1,251,269
Fixed maturities | Available-for-sale
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales	460,596	1,117,293	790,331
Proceeds from maturities/prepayments	1,218,844	624,640	465,347
Gross investment gains from sales and maturities	11,482	5,647	14,972
Gross investment losses from sales and maturities	(43,078)	(58,432)	(16,674)
Write-downs recognized in earnings	(2,358)	(20,600)	(2)
(Addition to) release of allowance for credit losses	2,761	(620)	(1,810)
Noncash or Part Noncash Divestiture, Amount of Consideration Received	$ 57,400	$ (53,900)	$ (4,400)

Investments (Credit Losses Reco

Investments (Credit Losses Recognized In Earnings on Fixed Maturity Securities Held by the Company) (Details) - Available-for-sale - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	$ 4,769	$ 4,149	$ 2,339
Additions to allowance for credit losses not previously recorded	4,268	13,036	2,675
Reductions for securities sold during the period	(5,120)	(1,798)	(28)
Reductions for securities with intent to sell		(16,990)
Addition (reductions) on securities with previous allowance	431	6,372	(837)
Write-downs charged against the allowance	(2,340)
Balance, end of period	2,008	4,769	4,149
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
Additions to allowance for credit losses not previously recorded	0	0	0
Reductions for securities sold during the period	0	0	0
Reductions for securities with intent to sell		0
Addition (reductions) on securities with previous allowance	0	0	0
Write-downs charged against the allowance	0
Balance, end of period	0	0	0
Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	5	11	0
Additions to allowance for credit losses not previously recorded	0	329	11
Reductions for securities sold during the period	(1)	(96)	0
Reductions for securities with intent to sell		(324)
Addition (reductions) on securities with previous allowance	(4)	85	0
Write-downs charged against the allowance	0
Balance, end of period	0	5	11
U.S. and Foreign Corporate Securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	4,755	4,138	2,339
Additions to allowance for credit losses not previously recorded	4,267	12,700	2,664
Reductions for securities sold during the period	(5,118)	(1,702)	(28)
Reductions for securities with intent to sell		(16,666)
Addition (reductions) on securities with previous allowance	436	6,285	(837)
Write-downs charged against the allowance	(2,340)
Balance, end of period	2,000	4,755	4,138
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	0	0
Additions to allowance for credit losses not previously recorded	1	0	0
Reductions for securities sold during the period	0	0	0
Reductions for securities with intent to sell		0
Addition (reductions) on securities with previous allowance	0	0	0
Write-downs charged against the allowance	0
Balance, end of period	1	0	0
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	0	0	0
Additions to allowance for credit losses not previously recorded	0	0	0
Reductions for securities sold during the period	0	0	0
Reductions for securities with intent to sell		0
Addition (reductions) on securities with previous allowance	0	0	0
Write-downs charged against the allowance	0
Balance, end of period	0	0	0
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Balance, beginning of period	9	0	0
Additions to allowance for credit losses not previously recorded	0	7	0
Reductions for securities sold during the period	(1)	0	0
Reductions for securities with intent to sell		0
Addition (reductions) on securities with previous allowance	(1)	2	0
Write-downs charged against the allowance	0
Balance, end of period	$ 7	$ 9	$ 0

Investments (Commercial Mortgag

Investments (Commercial Mortgage and Other Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 6,155,050	$ 4,948,943
Commercial mortgage loans, Percentage	100%	100%
Allowance for Credit Losses	$ (37,689)	$ (20,263)
Commercial Mortgage Loans	6,122,721	4,928,680
Total net Commercial Mortgage and Other Loans	6,122,721	4,928,680
Other loans	5,360	0
Commercial Mortgage and Agricultural Loans
Commercial Mortgage and Other Loans [Line Items]
Commercial Mortgage Loans	6,117,361	4,928,680
Total net Commercial Mortgage and Other Loans	6,117,361	4,928,680
Collateralized Loan Obligations
Commercial Mortgage and Other Loans [Line Items]
Other loans	5,360	0
Total Net Commercial Mortgage and Other Loans
Commercial Mortgage and Other Loans [Line Items]
Commercial Mortgage Loans	6,122,721	4,928,680
Total net Commercial Mortgage and Other Loans	6,122,721	4,928,680
Apartments and multi-family
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 1,578,785	$ 1,289,026
Commercial mortgage loans, Percentage	25.70%	26%
Hospitality
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 102,952	$ 104,177
Commercial mortgage loans, Percentage	1.70%	2.10%
Industrial
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 2,486,230	$ 1,766,247
Commercial mortgage loans, Percentage	40.40%	35.80%
Office
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 604,611	$ 590,897
Commercial mortgage loans, Percentage	9.80%	11.90%
Other
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 456,720	$ 380,121
Commercial mortgage loans, Percentage	7.40%	7.70%
Retail
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 363,706	$ 351,457
Commercial mortgage loans, Percentage	5.90%	7.10%
Commercial mortgage loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 5,593,004	$ 4,481,925
Commercial mortgage loans, Percentage	90.90%	90.60%
Agricultural property loans
Commercial Mortgage and Other Loans [Line Items]
Commercial mortgage and agricultural property loans	$ 562,046	$ 467,018
Commercial mortgage loans, Percentage	9.10%	9.40%

Investments (Allowance for Cred

Investments (Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	$ 20,263	$ 5,951	$ 4,552
Addition to (release of) allowance for expected losses	17,426	14,312	1,399
Total ending balance	37,689	20,263	5,951
Commercial mortgage loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	19,665	5,847	4,546
Addition to (release of) allowance for expected losses	17,093	13,818	1,301
Total ending balance	36,758	19,665	5,847
Agricultural Property Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of year	598	104	6
Addition to (release of) allowance for expected losses	333	494	98
Total ending balance	$ 931	$ 598	$ 104

Investments (Credit Quality Ind

Investments (Credit Quality Indicators) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Recording investment gross of allowance for credit losses	$ 6,160,410	$ 4,948,943
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	1,142,205	777,192
One Year Prior	782,796	1,248,477
Two Year Prior	1,261,597	354,746
Three Year Prior	363,599	511,628
Four Year Prior	528,288	265,253
Prior	1,514,519	1,324,629
Recording investment gross of allowance for credit losses	5,593,004	4,481,925
Commercial mortgage loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	1,038,315	744,301
One Year Prior	779,282	1,248,477
Two Year Prior	1,261,597	243,325
Three Year Prior	292,561	452,626
Four Year Prior	497,407	258,617
Prior	1,402,831	1,203,807
Recording investment gross of allowance for credit losses	5,271,993	4,151,153
Commercial mortgage loans | 1.0X to 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	103,890	32,891
One Year Prior	3,514	0
Two Year Prior	0	83,655
Three Year Prior	0	26,558
Four Year Prior	15,632	6,636
Prior	40,521	45,742
Recording investment gross of allowance for credit losses	163,557	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	71,038	32,444
Four Year Prior	15,249	0
Prior	71,167	75,080
Recording investment gross of allowance for credit losses	157,454	135,290
Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	126,949	264,918
One Year Prior	235,585	133,126
Two Year Prior	132,042	25,894
Three Year Prior	25,875	16,053
Four Year Prior	15,824	6,327
Prior	25,771	20,700
Recording investment gross of allowance for credit losses	562,046	467,018
Agricultural Property Loans | ≥ 1.2X
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	126,949	262,918
One Year Prior	233,585	133,126
Two Year Prior	130,353	25,894
Three Year Prior	24,063	16,053
Four Year Prior	15,824	6,327
Prior	25,771	20,700
Recording investment gross of allowance for credit losses	556,545	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	1,812	0
Four Year Prior	0	0
Prior	0	0
Recording investment gross of allowance for credit losses	3,812	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	1,689	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Recording investment gross of allowance for credit losses	1,689	0
0%-59.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	249,037	266,453
One Year Prior	245,914	262,095
Two Year Prior	482,718	63,558
Three Year Prior	109,249	222,638
Four Year Prior	265,053	201,087
Prior	1,068,763	894,646
Recording investment gross of allowance for credit losses	2,420,734	1,910,477
0%-59.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	73,774	208,708
One Year Prior	179,375	133,126
Two Year Prior	132,042	25,894
Three Year Prior	25,875	16,053
Four Year Prior	15,824	6,327
Prior	25,771	20,700
Recording investment gross of allowance for credit losses	452,661	410,808
60%-69.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	675,153	344,110
One Year Prior	355,984	681,996
Two Year Prior	449,878	243,800
Three Year Prior	172,721	219,593
Four Year Prior	225,803	61,757
Prior	206,237	305,175
Recording investment gross of allowance for credit losses	2,085,776	1,856,431
60%-69.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	47,489	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
Recording investment gross of allowance for credit losses	103,699	56,210
70%-79.99% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	218,015	166,629
One Year Prior	133,343	304,386
Two Year Prior	255,299	47,388
Three Year Prior	77,812	66,148
Four Year Prior	20,924	2,409
Prior	86,806	53,336
Recording investment gross of allowance for credit losses	792,199	640,296
70%-79.99% | Agricultural Property Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	5,686	0
One Year Prior	0	0
Two Year Prior	0	0
Three Year Prior	0	0
Four Year Prior	0	0
Prior	0	0
Recording investment gross of allowance for credit losses	5,686	0
80% or greater | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current Year	0	0
One Year Prior	47,555	0
Two Year Prior	73,702	0
Three Year Prior	3,817	3,249
Four Year Prior	16,508	0
Prior	152,713	71,472
Recording investment gross of allowance for credit losses	294,295	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
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	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	$ 6,160,410	$ 4,948,943
Non-Accrual Status	1,301	0
Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	6,160,410	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	5,593,004	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	5,593,004	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	562,046	467,018
Non-Accrual Status	1,301	0
Agricultural Loan | Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	562,046	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
Collateralized Loan Obligations
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	5,360
Non-Accrual Status	0
Collateralized Loan Obligations | Current
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	5,360
Collateralized Loan Obligations | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0
Collateralized Loan Obligations | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	0
Collateralized Loan Obligations | 90 Days or More Past Due
Financing Receivable, Past Due [Line Items]
Recording investment gross of allowance for credit losses	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	Dec. 31, 2023	Dec. 31, 2022
Other Invested Assets [Line Items]
Other invested assets	$ 1,222,985	$ 1,088,613
Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	1,204,869	1,040,992
Derivative Instruments
Other Invested Assets [Line Items]
Other invested assets	17,718	47,111
other
Other Invested Assets [Line Items]
Other invested assets	398	510
Equity Method | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	1,137,562	971,993
Equity Method | Private equity | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	333,863	287,969
Equity Method | Hedge funds | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	720,360	576,595
Equity Method | Real estate-related | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	83,339	107,429
Fair Value | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	67,307	68,999
Fair Value | Private equity | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	48,483	59,146
Fair Value | Hedge funds | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	137	396
Fair Value | Real estate-related | Total LPs/LLCs
Other Invested Assets [Line Items]
Other invested assets	$ 18,687	$ 9,457

Investments (Equity Method Inve

Investments (Equity Method Investments, Statement of Financial Position) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
TOTAL ASSETS	$ 213,309,041	$ 193,473,118
Total liabilities	208,787,616	188,436,923
Equity, Attributable to Parent	4,491,231	5,036,195
TOTAL LIABILITIES AND EQUITY	213,309,041	193,473,118
LP/LLC Interests
Schedule of Equity Method Investments [Line Items]
Total liabilities and partners’ capital included above	979,271	815,783
Equity in LP/LLC interests not included above	216,205	214,442
Carrying value	1,195,476	1,030,225
Equity Method Investment
Schedule of Equity Method Investments [Line Items]
TOTAL ASSETS	44,591,082	67,721,613
Total liabilities	2,802,022	12,174,133
Equity, Attributable to Parent	41,789,060	55,547,480
TOTAL LIABILITIES AND EQUITY	$ 44,591,082	$ 67,721,613

Investments (Equity Method In_2

Investments (Equity Method Investments, Statement of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments [Abstract]
Total Revenue	$ 3,465,807	$ 11,062,060	$ 11,031,051
Total Expenses	(979,287)	(1,655,673)	(2,044,942)
Net earnings (losses)	2,486,520	9,406,387	8,986,109
Earnings in net earnings (losses) included above	17,795	(36,513)	62,173
Equity in net earnings (losses) of LP/LLC interests not included above	11,792	7,320	28,765
Total equity in net earnings (losses)	$ 29,587	$ (29,193)	$ 90,938

Investments (Accrued Investment

Investments (Accrued Investment Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income
Accrued investment income	$ 333,838	$ 219,635
Fixed maturities
Net Investment Income
Accrued investment income	272,031	187,628
Equity securities
Net Investment Income
Accrued investment income	220	349
Commercial mortgage and other loans
Net Investment Income
Accrued investment income	21,070	13,335
Policy loans
Net Investment Income
Accrued investment income	35,210	14,525
Other invested assets
Net Investment Income
Accrued investment income	43	48
Short-term investments and cash equivalents
Net Investment Income
Accrued investment income	$ 5,264	$ 3,750

Investments (Net Investment Inc

Investments (Net Investment Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 1,752,819	$ 939,282	$ 577,152
Less: investment expenses	(77,297)	(55,281)	(26,917)
Net investment income	1,675,522	884,001	550,235
Equity securities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	14,772	8,226	530
Commercial mortgage and other loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	231,994	119,358	63,548
Policy loans
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	48,118	21,189	69,602
Other invested assets
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	98,369	101,289	104,375
Short-term investments and cash equivalents
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	123,857	44,182	712
Available-for-sale | Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	1,139,581	589,248	299,607
Trading | Fixed maturities
Schedule of Investment Income, Reported Amounts, by Category [Line Items]
Gross investment income	$ 96,128	$ 55,790	$ 38,778

Investments (Realized Investmen

Investments (Realized Investment Gains Losses, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	$ (1,083,660)	$ 336,382	[1]	$ (386,894)	[2]
Fixed maturities
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	(31,193)	(74,005)		(3,514)
Commercial mortgage and other loans
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	(17,854)	(18,201)		1,535
Other invested assets
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	36,246	(78,671)		(2,737)
Derivatives
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	(1,072,892)	507,313		(382,531)
Short-term investments and cash equivalents
Schedule of Gain (Loss) on Investments [Line Items]
Realized investment gains (losses), net	$ 2,033	$ (54)		$ 353
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect 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	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ (1,402,193)	$ (2,156,655)	$ 585,403
Fixed maturities | Available-for-sale | With an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	1,987	4,371	3,685
Fixed maturities | Available-for-sale | Without an allowance
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(1,406,265)	(2,285,288)	540,881
Derivatives designated as cash flow hedges
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	11,934	138,627	39,896
Affiliated notes
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	(8,760)	(13,189)	73
Other investments
Gain (Loss) on Securities [Line Items]
Net Unrealized Gains (Losses) on Investments	$ (1,089)	$ (1,176)	$ 868

Investments (Repurchase Agreeme

Investments (Repurchase Agreements and Securities Lending) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	$ 218,310	$ 86,750
Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	218,310	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 days or greater
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	486	506
Foreign government bonds | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	486	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	27,247	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	27,247	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	13,101	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	13,101	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	177,476	65,468
Equity securities | Overnight & Continuous
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Total cash collateral for loaned securities	177,476	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

Investments (Securities Pledged

Investments (Securities Pledged) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	$ 212,339	$ 84,448
Total liabilities supported by pledged collateral	218,310	86,750
Fixed Maturities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	39,344	20,553
Cash collateral for loaned securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total liabilities supported by pledged collateral	218,310	86,750
Equity securities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total securities pledged	$ 172,995	$ 63,895

Derivative Instruments (Gross N

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Gross Notional	$ 266,639,029	$ 196,977,180
Fair Value Assets	9,045,737	7,685,050
Fair Value Liabilities	(21,248,026)	(18,654,072)
Derivatives Designated as Hedge Accounting Instruments:
Derivative [Line Items]
Gross Notional	2,277,700	1,936,568
Fair Value Assets	121,243	233,812
Fair Value Liabilities	(54,282)	(10,778)
Derivatives Designated as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Gross Notional	3,064	3,225
Fair Value Assets	0	0
Fair Value Liabilities	(238)	(316)
Derivatives Designated as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Gross Notional	2,274,636	1,933,343
Fair Value Assets	121,243	233,812
Fair Value Liabilities	(54,044)	(10,462)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Derivative [Line Items]
Gross Notional	264,361,329	195,040,612
Fair Value Assets	8,924,494	7,451,238
Fair Value Liabilities	(21,193,744)	(18,643,294)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Swaps
Derivative [Line Items]
Gross Notional	163,179,764	138,419,110
Fair Value Assets	6,605,817	6,757,890
Fair Value Liabilities	(17,820,436)	(17,092,749)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Future
Derivative [Line Items]
Gross Notional	1,332,600	2,425,500
Fair Value Assets	3,055	3,267
Fair Value Liabilities	(210)	(201)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Forwards
Derivative [Line Items]
Gross Notional	744,576	364,946
Fair Value Assets	1,772	590
Fair Value Liabilities	(12,232)	(10,423)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit Default Swaps
Derivative [Line Items]
Gross Notional	643,280	47,450
Fair Value Assets	7,727	346
Fair Value Liabilities	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Foreign Currency Swaps
Derivative [Line Items]
Gross Notional	2,237,331	2,289,170
Fair Value Assets	96,618	194,412
Fair Value Liabilities	(31,294)	(14,624)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Options
Derivative [Line Items]
Gross Notional	49,247,510	25,187,516
Fair Value Assets	1,600,335	239,003
Fair Value Liabilities	(1,552,706)	(1,112,196)
Derivatives Not Qualifying as Hedge Accounting Instruments: | interest rate forward
Derivative [Line Items]
Gross Notional	1,458,000	1,104,000
Fair Value Assets	741	11,265
Fair Value Liabilities	(3,196)	(12,359)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Option
Derivative [Line Items]
Gross Notional	29,738,000	8,368,000
Fair Value Assets	189,112	123,168
Fair Value Liabilities	(969,718)	(225,125)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Total Return Swap
Derivative [Line Items]
Gross Notional	15,049,993	15,958,130
Fair Value Assets	418,084	120,341
Fair Value Liabilities	(803,452)	(175,104)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity Futures
Derivative [Line Items]
Gross Notional	418,973	876,790
Fair Value Assets	1,232	956
Fair Value Liabilities	(500)	(513)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Synthetic Gics
Derivative [Line Items]
Gross Notional	311,302	0
Fair Value Assets	1	0
Fair Value Liabilities	$ 0	$ 0

Derivative Instruments (Offsett

Derivative Instruments (Offsetting Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Offsetting of Financial Assets, Derivatives
Gross Amounts of Recognized Financial Instruments	$ 9,045,718	$ 7,685,050
Gross Amounts Offset in the Consolidated Statement of Financial Position	(9,028,019)	(7,637,939)
Net Amounts Presented in the Consolidated Statement of Financial Position	17,699	47,111
Financial Instruments/Collateral	0	0
Net Amount	17,699	47,111
Securities purchased under agreements to resell
Gross Amounts of Recognized Financial Instruments	25,000	290,000
Gross Amounts Offset in the Consolidated Statement of Financial Position	0	0
Net Amounts Presented in the Consolidated Statement of Financial Position	25,000	290,000
Financial Instruments/Collateral	0	(290,000)
Net Amount	25,000	0
Total Assets
Gross Amounts of Recognized Financial Instruments	9,070,718	7,975,050
Gross Amounts Offset in the Consolidated Statement of Financial Position	(9,028,019)	(7,637,939)
Net Amounts Presented in the Consolidated Statement of Financial Position	42,699	337,111
Financial Instruments/Collateral	0	(290,000)
Net Amount	42,699	47,111
Offsetting of Financial Liabilities, Derivatives
Gross Amounts of Recognized Financial Instruments	21,248,026	18,654,072
Gross Amounts Offset in the Consolidated Statement of Financial Position	(18,596,679)	(16,568,912)
Net Amounts Presented in the Consolidated Statement of Financial Position	2,651,347	2,085,160
Financial Instruments/Collateral	(2,651,347)	(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	21,248,026	18,654,072
Gross Amounts Offset in the Consolidated Statement of Financial Position	(18,596,679)	(16,568,912)
Net Amounts Presented in the Consolidated Statement of Financial Position	2,651,347	2,085,160
Financial Instruments/Collateral	(2,651,347)	(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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (1,069,780)	$ 507,313	$ (382,531)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Realized investment gains (losses), net	Realized investment gains (losses), net	Realized investment gains (losses), net
Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (2,377,803)	$ (4,179,946)	$ (611,938)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Change in value of market risk benefits, net of related hedging gain (losses)	Change in value of market risk benefits, net of related hedging gain (losses)	Change in value of market risk benefits, net of related hedging gain (losses)
Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 43,816	$ 36,726	$ 16,030
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net investment income	Net investment income	Net investment income
Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (26,463)	$ 34,627	$ 11,198
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Income (loss)	Other Income (loss)	Other Income (loss)
AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (126,693)	$ 98,731	$ 48,008
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive Income (Loss), Net of Tax	Other Comprehensive Income (Loss), Net of Tax	Other Comprehensive Income (Loss), Net of Tax
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ (634)	$ 7,637	$ 1,359
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	43,816	36,726	16,030
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(26,206)	34,070	11,119
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(126,693)	98,731	48,008
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate Contract | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	2	1	2
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate Contract | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate Contract | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(118)	(8)	47
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate Contract | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Interest Rate Contract | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	72	(312)	(161)
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(636)	7,636	1,357
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	43,934	36,734	15,983
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(26,206)	34,070	11,119
Derivatives Designated as Hedge Accounting Instruments: | Cash flow hedges | Currency/Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(126,765)	99,043	48,169
Derivatives Not Qualifying as Hedge Accounting Instruments: | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1,069,146)	499,676	(383,890)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(2,377,803)	(4,179,946)	(611,938)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(257)	557	79
Derivatives Not Qualifying as Hedge Accounting Instruments: | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Contract | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	25,329	661,978	(53,626)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Contract | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(1,555,807)	(5,230,085)	33,029
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Contract | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Contract | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Interest Rate Contract | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(16,012)	18,952	2,006
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(102,238)	107,388	44,350
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	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 derivative, net	(257)	557	79
Derivatives Not Qualifying as Hedge Accounting Instruments: | Currency/Interest Rate | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	14,350	(15,904)	2,892
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Credit | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	1,744,218	40,076	(299,798)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(821,996)	1,050,139	(644,967)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Equity | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivative Financial Instruments | Realized investment gains (losses), net
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	(2,734,793)	(312,814)	(79,714)
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivative Financial Instruments | Market Risk Benefit, Increase (Decrease)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivative Financial Instruments | Investment Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivative Financial Instruments | Other Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	0	0	0
Derivatives Not Qualifying as Hedge Accounting Instruments: | Embedded Derivative Financial Instruments | AOCI
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, gain (loss) on derivative, net	$ 0	$ 0	$ 0

Derivative Instruments (Current

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Net unrealized investment gains (losses)	Net unrealized investment gains (losses)	Net unrealized investment gains (losses)
Cash flow hedges in AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Balance, beginning	$ 138,627	$ 39,896	$ (8,112)
Amount recorded in AOCI	(109,717)	177,164	76,516
Amount reclassified into current period earnings	(16,976)	(78,433)	(28,508)
Balance, ending	11,934	138,627	39,896
Interest Rate Contract | Accumulated Gain (Loss), Net, Cash Flow Hedge
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount recorded in AOCI	(44)	(319)	(112)
Amount reclassified into current period earnings	116	7	(49)
Currency/Interest Rate | Accumulated Gain (Loss), Net, Cash Flow Hedge
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Amount recorded in AOCI	(109,673)	177,483	76,628
Amount reclassified into current period earnings	$ (17,092)	$ (78,440)	$ (28,459)

Derivative Instruments (Narrati

Derivative Instruments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative, Net Liability	$ (7,402)	$ (3,351)
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	19
Credit Default Swap, Selling Protection
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	643	47
Credit Risk Derivatives, at Fair Value, Net Asset (Liability) (less than)	8	$ 0
Credit Default Swap, Selling Protection | NAIC 3
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	542
Credit Default Swap, Selling Protection | NAIC 6
Derivative [Line Items]
Credit Derivative, Maximum Exposure, Undiscounted	$ 101

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	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	$ 26,131,780	$ 19,025,401
Market risk benefits assets	2,367,243	1,393,237	[1]
Fixed maturities, trading	2,796,446	1,936,159
Equity securities	844,950	143,072
Short-term investments	380,366
Other invested assets	1,222,985	1,088,613
Other Assets	2,078,938	1,331,427	[1]
Reinsurance recoverables	38,709,651	37,096,562
Receivables from parent and affiliates	332,583	224,921
Separate account assets	119,188,485	114,051,246
TOTAL ASSETS	213,309,041	193,473,118
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Payables to parent and affiliates	2,667,696	2,126,571
Total liabilities	208,787,616	188,436,923
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	975,287	281,792
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	776,627	628,200
Foreign government bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	281,986	273,462
U.S. corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	9,495,912	6,443,944
U.S. corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	4,989,494	3,816,729
Foreign corporate public securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	1,706,094	1,378,222
Foreign corporate private securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	4,630,982	3,766,330
Asset-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	2,027,550	1,442,354
Commercial mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	851,778	658,152
Residential mortgage-backed securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	396,070	336,216
Equity securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value investment measured at NAV per share	14,600
Fair Value, Measurements, Recurring
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale	26,131,780	19,025,401
Market risk benefits assets	2,367,243	1,393,237
Fixed maturities, trading	2,796,446	1,936,159
Equity securities	830,340	143,072
Short-term investments	313,866	98,160
Cash equivalents	1,644,125	1,432,182
Other invested assets	17,718	47,111
Other Assets	224,019	141,041
Reinsurance recoverables	69,745
Receivables from parent and affiliates	147,984	148,075
Subtotal excluding separate account assets	34,543,266	24,364,438
Separate account assets	113,929,793	108,789,313
TOTAL ASSETS	148,473,059	133,153,751
Market risk benefit liabilities	5,144,401	5,521,601
Policyholders’ account balances	7,689,929	3,502,096
Payables to parent and affiliates	2,651,123	2,084,917
Other liabilities	6,340	(9,267)
Total liabilities	15,491,793	11,099,347
Assets netting	(9,028,019)	(7,637,939)
Liabilities netting	(18,596,679)	(16,568,912)
Netting	(9,569,000)	(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	(9,028,019)	(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	(18,588,647)	(16,568,242)
Fair Value, Measurements, Recurring | Other liabilities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities netting	(8,032)	(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	975,287	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	776,627	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	281,986	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	9,495,912	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	4,989,494	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	1,706,094	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	4,630,982	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	2,027,550	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	851,778	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	396,070	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	790,346	108,076
Short-term investments	31,879	0
Cash equivalents	447,396	0
Other invested assets	23,432	4,223
Other Assets	0	0
Reinsurance recoverables	0
Receivables from parent and affiliates	0	0
Subtotal excluding separate account assets	1,293,053	112,299
Separate account assets	176,239	102,243
TOTAL ASSETS	1,469,292	214,542
Market risk benefit liabilities	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	0	0
Other liabilities	8,032	899
Total liabilities	8,032	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	24,939,518	18,412,457
Market risk benefits assets	0	0
Fixed maturities, trading	2,762,398	1,936,159
Equity securities	11,285	6,403
Short-term investments	280,228	81,215
Cash equivalents	1,196,729	1,432,182
Other invested assets	9,022,304	7,680,827
Other Assets	0	0
Reinsurance recoverables	0
Receivables from parent and affiliates	147,984	148,075
Subtotal excluding separate account assets	38,360,446	29,697,318
Separate account assets	113,747,569	108,682,425
TOTAL ASSETS	152,108,015	138,379,743
Market risk benefit liabilities	0	0
Policyholders’ account balances	0	0
Payables to parent and affiliates	21,239,770	18,653,159
Other liabilities	6,340	(9,496)
Total liabilities	21,246,110	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	975,287	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	776,627	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	281,304	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	9,495,912	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	4,476,258	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	1,698,965	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	4,137,004	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	1,928,428	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	773,663	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	396,070	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	1,192,262	612,944
Market risk benefits assets	2,367,243	1,393,237
Fixed maturities, trading	34,048	0
Equity securities	28,709	28,593
Short-term investments	1,759	16,945
Cash equivalents	0	0
Other invested assets	1	0
Other Assets	224,019	141,041
Reinsurance recoverables	69,745
Receivables from parent and affiliates	0	0
Subtotal excluding separate account assets	3,917,786	2,192,760
Separate account assets	5,985	4,645
TOTAL ASSETS	3,923,771	2,197,405
Market risk benefit liabilities	5,144,401	5,521,601
Policyholders’ account balances	7,689,929	3,502,096
Payables to parent and affiliates	0	0
Other liabilities	0	0
Total liabilities	12,834,330	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	682	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	513,236	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	7,129	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	493,978	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	99,122	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	78,115	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	$ 5,259,000	$ 5,262,000
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Corporate securities	$ 824,270	$ 148,179
Market risk benefits assets	2,367,243	1,393,237	[1]
Other assets	2,078,938	1,331,427	[1]
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Fair Value, Measurements, Recurring
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Market risk benefits assets	2,367,243	1,393,237
Other assets	224,019	141,041
Market risk benefit liabilities	5,144,401	5,521,601
Policyholders’ account balances	7,689,929	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	$ 2,367,243	1,393,237
Other assets	224,019	141,041
Market risk benefit liabilities	5,144,401	5,521,601
Policyholders’ account balances	$ 7,689,929	$ 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	0.41%	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	0.41%	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	6.98%	9.77%
Level 3 | Internal | Minimum   | Discounted cash flow | Commercial mortgage-backed securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidity premium	0.60%
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	0.41%	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 | Other assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	1%
Spread over SOFR	0.41%
Mortality rate	0%
Equity volatility curve	6%
Option budget	(1.00%)
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	63.62%
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	1.91%	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	1.85%	2.26%
Mortality rate	23%	23%
Equity volatility curve	25%	30%
Option budget	7%	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 | Commercial mortgage-backed securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidity premium	0.75%
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	1.91%	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 | Other assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Lapse rate	80%
Spread over SOFR	1.85%
Mortality rate	23%
Equity volatility curve	25%
Option budget	7%
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	63.62%
Level 3 | Internal | Weighted Average | Discounted cash flow | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Discount rate	9.73%	16.53%
Level 3 | Internal | Weighted Average | Discounted cash flow | Commercial mortgage-backed securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Liquidity premium	0.71%
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	63.62%
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	$ 5,144,401	$ 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	7,689,929	3,502,096
Level 3 | Internal | Fair Value, Measurements, Recurring | Corporate securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Corporate securities	81,635	408,494
Level 3 | Internal | Fair Value, Measurements, Recurring | Commercial mortgage-backed securities
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Commercial mortgage-backed securities	78,115
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	2,367,243	$ 1,393,237
Level 3 | Internal | Fair Value, Measurements, Recurring | Other assets
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items]
Other assets	$ 224,019
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Unrealized gains (losses) for assets/liabilities still held:
Market risk benefits assets	$ 2,367,243	$ 1,393,237	[1]
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	28,593	12,472
Purchases	2,531	10,000
Sales	0	(230)
Issuances	0	0
Settlements	0	0
Other	(1,487)	9,661
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	28,709	28,593		$ 12,472
Total gains (losses) (realized/unrealized):
Included in earnings	(928)	(3,310)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(928)	(3,872)
Equity securities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0		0
Equity securities | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	(928)	(3,310)		709
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(928)	(3,872)		709
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
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0		0
Equity securities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Other invested assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0
Purchases	0
Sales	0
Issuances	0
Settlements	0
Other	0
Transfers into Level 3	0
Transfers out of Level 3	0
Fair Value, end of period	1	0
Total gains (losses) (realized/unrealized):
Included in earnings	1
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1
Other invested assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	1
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1
Other invested assets | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other invested assets | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other invested assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Other invested assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0
Short-term investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	16,945	0
Purchases	4,922	18,046
Sales	0	0
Issuances	0	0
Settlements	(21,322)	(8,560)
Other	(1,359)	7,290
Transfers into Level 3	0	55
Transfers out of Level 3	0	0
Fair Value, end of period	1,759	16,945		0
Total gains (losses) (realized/unrealized):
Included in earnings	2,573	114
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	73
Short-term investments | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	1,857	77		181
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0		0
Short-term investments | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	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	(73)	73		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	73		0
Short-term investments | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	789	(36)		0
Cash equivalents | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings				147
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings				0
Cash equivalents | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings				0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings				0
Cash equivalents | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings				0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings				0
Cash equivalents | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings				0
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	141,041	72,937
Purchases	145,922	49,677
Sales	0	0
Issuances	0	0
Settlements	(22,882)	(3,855)
Other	0	(21,814)
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	224,019	141,041		72,937
Total gains (losses) (realized/unrealized):
Included in earnings	(40,062)	44,096
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(62,944)	47,951
Other assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(40,062)	44,096		1,258
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(62,944)	47,951		359
Other assets | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	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
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0		0
Other assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Reinsurance recoverables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0
Purchases	75,143
Sales	0
Issuances	0
Settlements	0
Other	(2,364)
Transfers into Level 3	0
Transfers out of Level 3	0
Fair Value, end of period	69,745	0
Total gains (losses) (realized/unrealized):
Included in earnings	(3,034)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(3,034)
Reinsurance recoverables | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(3,034)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(3,034)
Reinsurance recoverables | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Reinsurance recoverables | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Reinsurance recoverables | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Reinsurance recoverables | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0
Separate account assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	4,645	0
Purchases	2,216	7,715
Sales	(1,124)	(3,000)
Issuances	0	0
Settlements	(160)	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	5,985	4,645		0
Total gains (losses) (realized/unrealized):
Included in earnings	408	(70)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	406	(70)
Separate account assets | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Separate account assets | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Separate account assets | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	408	(70)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	406	(70)
Separate account assets | Included in other comprehensive income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0
Separate account assets | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0
Policyholders' account balances
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	(3,502,096)	(3,245,773)
Purchases	0	0
Sales	0	0
Issuances	(1,653,028)	(1,094,824)
Settlements	0	0
Other	106,631	1,248,413
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	(7,689,929)	(3,502,096)		(3,245,773)
Total gains (losses) (realized/unrealized):
Included in earnings	(2,641,436)	(409,912)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(360,807)	(289,548)
Policyholders' account balances | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(2,641,436)	(409,912)		(78,321)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(360,807)	(289,548)		5,476
Policyholders' account balances | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	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
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0	0		0
Policyholders' account balances | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Available-for-sale | Fixed maturities | Realized investment gains (losses), net
Total gains (losses) (realized/unrealized):
Included in earnings	(2,081)	(16,829)		(832)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(2,904)	(14,416)		(1,778)
Available-for-sale | Fixed maturities | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	0	0		0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	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	(2,808)	(56,470)		(6,318)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(2,420)	(59,239)		(5,346)
Available-for-sale | Fixed maturities | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	490	(242)		388
Available-for-sale | Fixed maturities | Foreign government
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	724	150
Purchases	0	501
Sales	0	0
Issuances	0	0
Settlements	0	0
Other	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, end of period	682	724		150
Total gains (losses) (realized/unrealized):
Included in earnings	(42)	73
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(53)	69
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	507,496	385,634
Purchases	567,936	323,603
Sales	(39,722)	(62,827)
Issuances	0	0
Settlements	(130,688)	(102,377)
Other	3,129	106,408
Transfers into Level 3	117,671	10,475
Transfers out of Level 3	(11,564)	(106,124)
Fair Value, end of period	1,014,343	507,496		385,634
Total gains (losses) (realized/unrealized):
Included in earnings	85	(47,296)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(973)	(45,235)
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	104,724	173,944
Purchases	241,159	81,576
Sales	(37)	0
Issuances	0	0
Settlements	(2,147)	(1,993)
Other	(2,222)	0
Transfers into Level 3	4,537	0
Transfers out of Level 3	(164,335)	(122,485)
Fair Value, end of period	177,237	104,724		173,944
Total gains (losses) (realized/unrealized):
Included in earnings	(4,442)	(26,318)
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	(4,298)	(28,489)
Trading | Fixed maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, beginning of period	0
Purchases	36,284
Sales	0
Issuances	0
Settlements	0
Other	2,931
Transfers into Level 3	0
Transfers out of Level 3	(6,250)
Fair Value, end of period	34,048	$ 0
Total gains (losses) (realized/unrealized):
Included in earnings	1,083
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1,225
Trading | Fixed maturities | Realized investment gains (losses), net
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 | Other income (loss)
Total gains (losses) (realized/unrealized):
Included in earnings	1,080			46
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	1,225			46
Trading | Fixed maturities | Interest credited to policyholders' account balances
Total gains (losses) (realized/unrealized):
Included in earnings	0
Unrealized gains (losses) for assets/liabilities still held:
Included in earnings	0
Trading | Fixed maturities | Included in other comprehensive income (loss)
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 | Net investment income
Total gains (losses) (realized/unrealized):
Included in earnings	$ 3			$ 0
[1]Prior period amounts reflect 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 - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment in joint venture
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
Carrying value after measurement as of period end	0	60,456
Other invested assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Gains (losses)	$ 0	$ (11,125)	$ 0

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	Dec. 31, 2023	Dec. 31, 2022
Assets:
Policy loans	$ 1,472,677	$ 505,367
Short-term investments	380,366
Cash and cash equivalents	2,139,792	2,397,627
Accrued investment income	333,838	219,635
Reinsurance recoverables	38,709,651	37,096,562
Receivables from parent and affiliates	332,583	224,921
Liabilities:
Cash collateral for loaned securities	218,310	86,750
Fair Value
Assets:
Commercial mortgage and other loans	5,918,386	4,602,177
Policy loans	1,472,677	505,367
Short-term investments	66,500	26,331
Cash and cash equivalents	495,667	965,445
Accrued investment income	333,838	219,635
Reinsurance recoverables	22,155	25,127
Receivables from parent and affiliates	184,599	76,846
Other assets	1,570,629	824,882
Total assets	10,064,451	7,245,810
Liabilities:
Policyholders’ account balances - investment contracts	6,352,532	4,333,271
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	176,110	120,325
Long-term debt to affiliates		173,905
Payables to parent and affiliates	16,573	41,654
Other liabilities	2,154,284	1,302,865
Total liabilities	8,917,809	6,058,770
Carrying Amount
Assets:
Commercial mortgage and other loans	6,122,721	4,928,680
Policy loans	1,472,677	505,367
Short-term investments	66,500	26,331
Cash and cash equivalents	495,667	965,445
Accrued investment income	333,838	219,635
Reinsurance recoverables	23,537	27,183
Receivables from parent and affiliates	184,599	76,846
Other assets	1,570,629	824,882
Total assets	10,270,168	7,574,369
Liabilities:
Policyholders’ account balances - investment contracts	6,368,061	4,351,945
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	180,411	126,250
Long-term debt to affiliates		185,563
Payables to parent and affiliates	16,573	41,654
Other liabilities	2,154,283	1,302,866
Total liabilities	8,937,638	6,095,028
Level 1 | Fair Value
Assets:
Commercial mortgage and other loans	0	0
Policy loans	0	0
Short-term investments	66,500	26,331
Cash and cash equivalents	470,668	675,445
Accrued investment income	0	0
Reinsurance recoverables	0	0
Receivables from parent and affiliates	0	0
Other assets	0	0
Total assets	537,168	701,776
Liabilities:
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
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	24,999	290,000
Accrued investment income	333,838	219,635
Reinsurance recoverables	0	0
Receivables from parent and affiliates	184,599	76,846
Other assets	80,646	94,200
Total assets	624,082	680,681
Liabilities:
Policyholders’ account balances - investment contracts	955,647	1,192,271
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	176,110	120,325
Long-term debt to affiliates		173,905
Payables to parent and affiliates	16,573	41,654
Other liabilities	2,121,861	1,269,615
Total liabilities	3,488,501	2,884,520
Level 3 | Fair Value
Assets:
Commercial mortgage and other loans	5,918,386	4,602,177
Policy loans	1,472,677	505,367
Short-term investments	0	0
Cash and cash equivalents	0	0
Accrued investment income	0	0
Reinsurance recoverables	22,155	25,127
Receivables from parent and affiliates	0	0
Other assets	1,489,983	730,682
Total assets	8,903,201	5,863,353
Liabilities:
Policyholders’ account balances - investment contracts	5,396,885	3,141,000
Cash collateral for loaned securities	0	0
Short-term debt to affiliates	0	0
Long-term debt to affiliates		0
Payables to parent and affiliates	0	0
Other liabilities	32,423	33,250
Total liabilities	$ 5,429,308	$ 3,174,250

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	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	$ 6,930,425	[1]	$ 7,029,308		$ 2,493,082
Capitalization	1,094,907		962,577		855,790
Amortization Expense	(534,435)		(520,276)		(325,595)
Other	(393,386)		(541,184)		4,006,031
Balance, end of period	7,097,511		6,930,425	[1]	7,029,308
Fixed Annuities
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	102,251		84,481		0
Capitalization	117,851		31,494		576
Amortization Expense	(22,165)		(13,724)		(1,008)
Other	0		0		84,913
Balance, end of period	197,937		102,251		84,481
Variable Annuties
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	3,736,454		3,806,732		0
Capitalization	241,136		270,864		32,590
Amortization Expense	(326,444)		(341,142)		(146,952)
Other	(393,385)		0		3,921,094
Balance, end of period	3,257,761		3,736,454		3,806,732
Term Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	648,837		577,084		462,099
Capitalization	159,000		127,541		168,760
Amortization Expense	(63,949)		(55,423)		(53,775)
Other	0		(365)		0
Balance, end of period	743,888		648,837		577,084
Variable / Universal Life
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Cost, Beginning Balance	2,442,883		2,561,011		2,030,983
Capitalization	576,920		532,678		653,864
Amortization Expense	(121,877)		(109,987)		(123,860)
Other	(1)		(540,819)		24
Balance, end of period	$ 2,897,925		$ 2,442,883		$ 2,561,011
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 292,893	$ 333,003	$ 362,347
Amortization expense	(37,777)	(40,105)	(24,353)
Other	(1)	(5)	(4,991)
Balance, end of period	255,115	292,893	333,003
Variable Annuties
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	223,515	254,577	274,415
Amortization expense	(29,403)	(31,057)	(14,847)
Other	(1)	(5)	(4,991)
Balance, end of period	194,111	223,515	254,577
Term Life
Reinsurance Recoverable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	69,378	78,426	87,932
Amortization expense	(8,374)	(9,048)	(9,506)
Other	0	0	0
Balance, end of period	$ 61,004	$ 69,378	$ 78,426

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	$ 1,492,856	$ 252,736	$ 174,259
Amortization	(96,864)	(86,389)	(8,022)
Other	277,299	1,326,509	86,499
Balance, end of period	1,673,291	1,492,856	252,736
Lotus Re
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Other		1,352,000
Fixed Annuities
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	57,898	78,138	0
Amortization	(9,790)	(6,437)	(657)
Other	(34)	(13,803)	78,795
Balance, end of period	48,074	57,898	78,138
Variable Annuties
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	0	0	0
Amortization	(15,612)	0	0
Other	277,333	0	0
Balance, end of period	261,721	0	0
Variable / Universal Life
Reinsurance Recoverable, Allowance for Credit Gain [Roll Forward]
Balance, beginning of period	1,434,958	174,598	174,259
Amortization	(71,462)	(79,952)	(7,365)
Other	0	1,340,312	7,704
Balance, end of period	$ 1,363,496	$ 1,434,958	$ 174,598

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		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Movement in Deferred Sales Inducements [Roll Forward]
Beginning Balance	[1]	$ 381,504
Ending Balance		351,424	$ 381,504	[1]
Variable Annuties
Movement in Deferred Sales Inducements [Roll Forward]
Beginning Balance		381,504	414,619		$ 0
Capitalization		1,514	676		167
Amortization expense		(31,625)	(33,791)		(17,885)
Other adjustments		31			432,337
Ending Balance		$ 351,424	$ 381,504		$ 414,619
[1]Prior period amounts reflect 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	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 119,188,485	$ 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	2,954	2,510
U.S. corporate securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	9,504	8,702
Foreign corporate securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	1,763	1,420
Mortgage-backed securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	186	276
Equity
Fair Value, Separate Account Investment [Line Items]
Separate account assets	72,614,821	67,144,660
Fixed Income
Fair Value, Separate Account Investment [Line Items]
Separate account assets	37,065,162	38,109,374
Other
Fair Value, Separate Account Investment [Line Items]
Separate account assets	4,101,661	3,441,016
Equity securities
Fair Value, Separate Account Investment [Line Items]
Separate account assets	104,159	49,260
Other invested assets
Fair Value, Separate Account Investment [Line Items]
Separate account assets	5,258,900	5,262,178
Short-term investments
Fair Value, Separate Account Investment [Line Items]
Separate account assets	2,126	1,237
Cash and cash equivalents
Fair Value, Separate Account Investment [Line Items]
Separate account assets	$ 27,249	$ 30,613

Separate Accounts (Separate A_2

Separate Accounts (Separate Account Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Separate Account, Liability [Roll Forward]
Balance, beginning of period	$ 114,051,246	$ 149,797,828	$ 145,740,422
Deposits	3,186,458	2,933,695	3,067,236
Investment performance	16,530,506	(25,870,874)	16,661,639
Policy charges	(3,126,398)	(3,280,999)	(3,640,519)
Surrenders and withdrawals	(10,035,327)	(8,821,162)	(11,551,330)
Benefit payments	(300,033)	(340,726)	(364,251)
Net transfers (to) from general account	(1,190,696)	(420,021)	(160,956)
Other	72,729	53,505	45,587
Balance, end of period	119,188,485	114,051,246	149,797,828
Cash surrender value	114,901,916	109,783,645	145,021,993
Variable Annuties
Separate Account, Liability [Roll Forward]
Balance, beginning of period	91,785,447	123,977,624	124,275,626
Deposits	440,707	658,695	669,497
Investment performance	12,219,777	(21,600,783)	13,179,092
Policy charges	(2,296,859)	(2,513,831)	(2,937,255)
Surrenders and withdrawals	(9,687,372)	(8,481,231)	(11,147,772)
Benefit payments	(73,791)	(62,586)	(74,953)
Net transfers (to) from general account	(15,121)	(206,269)	3,449
Other	10,333	13,828	9,940
Balance, end of period	92,383,121	91,785,447	123,977,624
Cash surrender value	91,201,190	90,208,083	121,847,584
Variable Life
Separate Account, Liability [Roll Forward]
Balance, beginning of period	22,265,799	25,820,204	21,464,796
Deposits	2,745,751	2,275,000	2,397,739
Investment performance	4,310,729	(4,270,091)	3,482,547
Policy charges	(829,539)	(767,168)	(703,264)
Surrenders and withdrawals	(347,955)	(339,931)	(403,558)
Benefit payments	(226,242)	(278,140)	(289,298)
Net transfers (to) from general account	(1,175,575)	(213,752)	(164,405)
Other	62,396	39,677	35,647
Balance, end of period	26,805,364	22,265,799	25,820,204
Cash surrender value	23,700,726	$ 19,575,562	$ 23,174,409
Policy loan funding to an affiliated irrevocable trust | Variable Life
Separate Account, Liability [Roll Forward]
Net transfers (to) from general account	$ (900,000)

Liability for Future Policy B_3

Liability for Future Policy Benefits (Benefit Reserves) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Other adjustments	$ (3,952)	$ (55,099)	[1]	$ (27,008)	[1]
Interest accrual	486,253	433,631		344,789
Other Businesses
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	2,127	2,902
Balance after transition, at current discount rate	1,765	2,127		2,902
Total
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	18,042,105	21,177,064
Balance after transition, at current discount rate	18,656,760	18,042,105		21,177,064
Term Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	10,911,794	12,485,056		12,791,701
Effect of cumulative changes in discount rate assumptions, beginning of period	554,896	(1,826,120)		(2,461,823)
Balance at original discount rate, beginning of period	11,466,690	10,658,936		10,329,878
Effect of assumption update		(790)		1,295,294		$ 39,089
Effect of actual variances from expected experiences and other activity		(200,513)		(112,661)		246,712
Adjusted balance, beginning of period		11,265,387		11,841,569		10,615,679
Issuances	712,495	439,874		747,703
Net Premium / Consideration Collected	(1,345,514)	(1,339,902)		(1,193,642)
Interest accural	521,176	525,149		489,196
Balance at original discount rate, end of period	11,153,544	11,466,690		10,658,936
Effect of cumulative changes in discount rate assumptions, end of period	(225,711)	(554,896)		1,826,120
Balance, end of period	10,927,833	10,911,794		12,485,056
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	17,835,251	20,937,097		21,897,943
Effect of cumulative changes in discount rate assumptions, beginning of period	962,035	(3,607,275)		(4,893,834)
Balance at original discount rate, beginning of period	18,797,286	17,329,822		17,004,109
Effect of assumption update		(1,044)		1,756,995		40,236
Effect of actual variance from expected experience and other activity		(263,243)		(206,175)		268,005
Adjusted balance, beginning of period		18,532,999		18,880,642		17,312,350
Issuances	712,495	439,874		747,703
Interest accrual	895,023	888,525		832,663
Benefit Payments	(1,386,583)	(1,416,823)		(1,566,091)
Other adjustments	3,844	5,068		3,197
Balance at original discount rate, end of period	18,757,778	18,797,286		17,329,822
Effect of cumulative changes in discount rate assumptions, end of period	(331,571)	(962,035)		3,607,275
Balance after transition, at current discount rate	18,426,207	17,835,251		20,937,097
Balance, end of period, pre-flooring	7,498,374	6,923,457		8,452,041
Flooring impact, end of period	44	0		951
Balance, end of period, post-flooring	7,498,418	6,923,457		8,452,992
Less: Reinsurance Recoverable	6,817,488	6,497,257		7,855,802
Balance after transition, net of reinsurance recoverable	680,930	426,200		597,190
Term Life | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Undiscounted expected future gross premiums	21,871,767	22,223,836		24,005,621
Discounted expected future gross premiums (at original discount rate)	15,027,611	15,322,180		16,246,950
Discounted expected future gross premiums (at current discount rate)	14,748,999	14,587,657		19,102,730
Undiscounted expected future benefits and expenses	29,118,532	29,330,574		27,127,403
Interest accrual	373,845	363,375		343,467
Gross premiums	$ 1,804,955	$ 1,831,360		$ 1,822,261
Weighted-average duration of the liability in years (at original discount rate)	10 years	11 years		10 years
Weighted-average duration of the liability in years (at current discount rate)	10 years	10 years		11 years
Weighted-Average Interest Rate (At Original Discount Rate)	5.17%	5.23%		5.30%
Weighted-average interest rate (at current discount rate)	4.99%	5.39%		2.55%
Fixed Annuities
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of period	$ 0	$ 0		$ 0
Effect of cumulative changes in discount rate assumptions, beginning of period	0	0		0
Balance at original discount rate, beginning of period	0	0		0
Effect of assumption update		0		0		0
Effect of actual variances from expected experiences and other activity		(989)		(1,143)		0
Adjusted balance, beginning of period						0
Issuances	36,646	30,469		29,700
Net Premium / Consideration Collected	(35,657)	(29,326)		(29,700)
Interest accural	0	0		0
Balance at original discount rate, end of period	0	0		0
Effect of cumulative changes in discount rate assumptions, end of period	0	0		0
Balance, end of period	0	0		0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	204,727	237,065		237,094
Effect of cumulative changes in discount rate assumptions, beginning of period	24,876	(16,704)		(27,090)
Balance at original discount rate, beginning of period	229,603	220,361		210,004
Effect of assumption update		0		0		0
Effect of actual variance from expected experience and other activity		6,991		(1,639)		(1,422)
Adjusted balance, beginning of period		236,594		218,722		208,582
Issuances	36,646	30,469		29,700
Interest accrual	8,440	7,836		7,454
Benefit Payments	(33,287)	(27,138)		(25,328)
Other adjustments	(84)	(286)		(47)
Balance at original discount rate, end of period	248,309	229,603		220,361
Effect of cumulative changes in discount rate assumptions, end of period	(19,521)	(24,876)		16,704
Balance after transition, at current discount rate	228,788	204,727		237,065
Balance, end of period, pre-flooring	228,788	204,727		237,065
Flooring impact, end of period	0	0		0
Balance, end of period, post-flooring	228,788	204,727		237,065
Less: Reinsurance Recoverable	18,489	16,460		19,314
Balance after transition, net of reinsurance recoverable	210,299	188,267		217,751
Fixed Annuities | Gross Basis
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Undiscounted expected future gross premiums	0	0		0
Discounted expected future gross premiums (at original discount rate)	0	0		0
Discounted expected future gross premiums (at current discount rate)	0	0		0
Undiscounted expected future benefits and expenses	332,902	306,286		293,095
Interest accrual	8,440	7,836		7,454
Gross premiums	$ 41,111	$ 32,105		$ 35,672
Weighted-average duration of the liability in years (at original discount rate)	7 years	7 years		7 years
Weighted-average duration of the liability in years (at current discount rate)	6 years	6 years		7 years
Weighted-Average Interest Rate (At Original Discount Rate)	3.70%	3.60%		3.47%
Weighted-average interest rate (at current discount rate)	4.95%	5.33%		2.49%
Fixed Annuity
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Adjusted balance, beginning of period		$ (989)		$ (1,143)
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		12,791,701
Effect of cumulative changes in discount rate assumptions, beginning of period	554,896	(1,826,120)		(2,461,823)
Balance at original discount rate, beginning of period	11,466,690	10,658,936		10,329,878
Effect of assumption update		(790)		1,295,294		39,089
Effect of actual variances from expected experiences and other activity		(201,502)		(113,804)		246,712
Adjusted balance, beginning of period		11,264,398		11,840,426		10,615,679
Issuances	749,141	470,343		777,403
Net Premium / Consideration Collected	(1,381,171)	(1,369,228)		(1,223,342)
Interest accural	521,176	525,149		489,196
Balance at original discount rate, end of period	11,153,544	11,466,690		10,658,936
Effect of cumulative changes in discount rate assumptions, end of period	(225,711)	(554,896)		1,826,120
Balance, end of period	10,927,833	10,911,794		12,485,056
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	18,039,978	21,174,162		22,135,037
Effect of cumulative changes in discount rate assumptions, beginning of period	986,911	(3,623,979)		(4,920,924)
Balance at original discount rate, beginning of period	19,026,889	17,550,183		17,214,113
Effect of assumption update		(1,044)		1,756,995		40,236
Effect of actual variance from expected experience and other activity		(256,252)		(207,814)		266,583
Adjusted balance, beginning of period		18,769,593		19,099,364		$ 17,520,932
Issuances	749,141	470,343		777,403
Interest accrual	903,463	896,361		840,117
Benefit Payments	(1,419,870)	(1,443,961)		(1,591,419)
Other adjustments	3,760	4,782		3,150
Balance at original discount rate, end of period	19,006,087	19,026,889		17,550,183
Effect of cumulative changes in discount rate assumptions, end of period	(351,092)	(986,911)		3,623,979
Balance after transition, at current discount rate	18,654,995	18,039,978		21,174,162
Balance, end of period, pre-flooring	7,727,162	7,128,184		8,689,106
Flooring impact, end of period	44	0		951
Balance, end of period, post-flooring	7,727,206	7,128,184		8,690,057
Less: Reinsurance Recoverable	6,835,977	6,513,717		7,875,116
Balance after transition, net of reinsurance recoverable	891,229	614,467		$ 814,941
Nonparticipating Traditional and Limited-Pay Business
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Loss in net income	31,000	82,000
Gain in net income	$ 30,000	$ 83,000
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Liability for Future Policy B_4

Liability for Future Policy Benefits (Deferred Profit Liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Other adjustments	$ (3,952)	$ (55,099)	[1]	$ (27,008)	[1]
Fixed Annuities | Deferred Profit Liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	18,193	15,765		9,959
Effect of actual variance from expected experience and other activity		(6,978)		1,250		$ 1,247
Adjusted balance, beginning of period		11,215		17,015		$ 11,206
Profits deferred	5,191	2,511		5,823
Interest accrual	552	616		529
Amortization	(2,129)	(1,909)		(1,793)
Other adjustments	(11)	(40)		0
Balance, end of period	14,818	18,193		15,765
Less: Reinsurance Recoverable	1,365	1,684		1,726
Balance after reinsurance recoverable	13,453	16,509		14,039
Gross Basis | Fixed Annuities | Deferred Profit Liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Interest accrual	552	616		529
Gross premiums	$ 3,375
Gross Basis | Fixed Annuities | Deferred Profit Liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Gross premiums		$ (2,428)		$ (5,805)
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Liability for Future Policy B_5

Liability for Future Policy Benefits (Additional Insurance Reserves) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Insurance [Abstract]
Balance including amounts in AOCI, beginning of period, post-flooring	$ 12,664,445	$ 11,660,527	$ 10,878,087
Flooring Impact and amounts in AOCI	1,269,236	(896,931)	(1,169,972)
Balance, excluding amounts in AOCI, beginning of period, pre-flooring		13,933,681	10,763,596	$ 9,708,115
Effect of assumption updates		22,910	2,197,592	(1,243)
Effect of actual variance from expected experience and other activity		34,021	(223,185)	53,125
Adjusted balance, beginning of period		13,990,612	12,738,003	$ 9,759,997
Assessments collected	929,709	961,924	848,263
Interest accrual	486,253	433,631	344,789
Benefits paid	(294,199)	(199,877)	(189,453)
Balance, excluding amounts in AOCI, end of period, pre-flooring	15,112,375	13,933,681	10,763,596
Flooring Impact and amounts in AOCI	(831,583)	(1,269,236)	896,931
Balance, including amounts in AOCI, end of period, post-flooring	14,280,792	12,664,445	11,660,527
Less: Reinsurance recoverable	14,054,600	12,458,184	11,419,340
Balance after reinsurance recoverable, including amounts in AOCI, end of period	226,192	206,261	241,187
Gross assessments	$ 1,405,696	$ 1,367,796	$ 1,674,305
Weighted-average duration of the liability in years (at original discount rate)	22 years	23 years	22 years
Weighted-average interest rate (at original discount rate)	3.39%	3.37%	3.37%

Liability for Future Policy B_6

Liability for Future Policy Benefits (Future Policy Benefits Reconciliation) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Insurance [Abstract]
Benefit reserves, end of period, post-flooring	$ 7,727,206	$ 7,128,184		$ 8,690,057
Deferred profit liability, end of period, post-flooring	14,818	18,193		15,765
Additional insurance reserves, including amounts in AOCI, end of period, post-flooring	14,280,792	12,664,445		11,660,527
Subtotal of amounts disclosed above	22,022,816	19,810,822		20,366,349
Other future policy benefit reserves	1,182,389	1,018,211		1,144,400
Future policy benefits	$ 23,205,205	$ 20,829,033	[1]	$ 21,510,749
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Benefit Reserves | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	$ 1,804,955	$ 1,831,360	$ 1,822,261
Interest expense	373,845	363,375	343,467
Benefit Reserves | Variable / Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0	0
Interest expense	0	0	0
Benefit Reserves | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	41,111	32,105	35,672
Interest expense	8,440	7,836	7,454
Benefit Reserves | Total
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,846,066	1,863,465	1,857,933
Interest expense	382,285	371,211	350,921
Deferred Profit Liability | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0	0
Interest expense	0	0	0
Deferred Profit Liability | Variable / Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0	0
Interest expense	0	0	0
Deferred Profit Liability | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	3,375
Interest expense	552	616	529
Deferred Profit Liability | Total
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	3,375
Interest expense	552	616	529
Deferred Profit Liability | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue		(2,428)	(5,805)
Deferred Profit Liability | Total
Liability for Future Policy Benefit, Activity [Line Items]
Revenue		(2,428)	(5,805)
Additional Insurance Reserves | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0	0
Interest expense	0	0	0
Additional Insurance Reserves | Variable / Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,405,696	1,367,796	1,674,305
Interest expense	486,253	433,631	344,789
Additional Insurance Reserves | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	0	0	0
Interest expense	0	0	0
Additional Insurance Reserves | Total
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,405,696	1,367,796	1,674,305
Interest expense	486,253	433,631	344,789
Revenues | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,804,955	1,831,360	1,822,261
Revenues | Variable / Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	1,405,696	1,367,796	1,674,305
Revenues | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	44,486	29,677	29,867
Revenues | Total
Liability for Future Policy Benefit, Activity [Line Items]
Revenue	3,255,137	3,228,833	3,526,433
Interest Expense | Term Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	373,845	363,375	343,467
Interest Expense | Variable / Universal Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	486,253	433,631	344,789
Interest Expense | Fixed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	8,992	8,452	7,983
Interest Expense | Total
Liability for Future Policy Benefit, Activity [Line Items]
Interest expense	$ 869,090	$ 805,458	$ 696,239

Policyholders' Liabilities (Det

Policyholders' Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	$ 41,912,536	[1]	$ 35,730,680
Transfer (to) from separate account	1,190,696		420,021		$ 160,956
Unearned revenue reserve	3,741,426		3,067,336		2,398,788
Other	102,583		100,980		98,066
Total Policyholders' account balance	$ 53,012,800		$ 41,912,536	[1]	$ 35,730,680
Weighted-average crediting rate	2.12%		2.26%		2.31%
Net amount at risk	$ 323,508,447		$ 304,864,585		$ 309,431,313
Cash surrender value	44,474,822		33,949,928		30,643,428
Total
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	38,744,220		33,233,826		22,378,064
Deposits	9,363,655		7,688,979		3,645,078
Interest credited	934,957		813,272		604,025
Policy charges	(1,842,450)		(1,806,479)		(1,747,547)
Surrenders and withdrawals	(1,591,318)		(1,223,874)		(1,240,533)
Benefit payments	(164,392)		(229,040)		(262,334)
Transfer (to) from separate account	1,190,696		420,021		160,956
Change in market value and other adjustments	2,533,423		(152,485)		9,696,117
Balance, end of period	49,168,791		38,744,220		33,233,826
Less: Reinsurance and other recoverable	13,405,290		13,226,222		12,053,936
Policyholders' account balance net of reinsurance and other recoverables	35,763,501		25,517,998		21,179,890
Total Policyholders' account balance			38,744,220		33,233,826
Fixed Annuities
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	3,575,823		3,005,867		379,981
Deposits	2,612,775		754,397		396,377
Interest credited	101,192		53,884		1,181
Policy charges	(8,438)		(5,118)		(5,346)
Surrenders and withdrawals	(229,843)		(68,343)		(41,886)
Benefit payments	(50,522)		(90,640)		(87,897)
Transfer (to) from separate account	0		0		0
Change in market value and other adjustments	163,326		(74,224)		2,363,457
Balance, end of period	6,164,313		3,575,823		3,005,867
Less: Reinsurance and other recoverable	4,746		5,724		7,066
Policyholders' account balance net of reinsurance and other recoverables	$ 6,159,567		3,570,099		2,998,801
Total Policyholders' account balance			$ 3,575,823		$ 3,005,867
Weighted-average crediting rate	2.08%		1.64%		0.07%
Net amount at risk	$ 15		$ 3		$ 0
Cash surrender value	5,307,537		2,968,033		2,476,677
Variable Annuties
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	16,432,032		11,465,411		3,634,125
Deposits	4,633,727		4,761,547		725,701
Interest credited	277,708		175,574		94,453
Policy charges	(23,368)		(5,482)		(1,941)
Surrenders and withdrawals	(516,039)		(282,497)		(208,224)
Benefit payments	(30,461)		(35,042)		(41,851)
Transfer (to) from separate account	15,121		206,269		(3,449)
Change in market value and other adjustments	2,048,045		146,252		7,266,597
Balance, end of period	22,836,765		16,432,032		11,465,411
Less: Reinsurance and other recoverable	569,844		323,981		340,527
Policyholders' account balance net of reinsurance and other recoverables	$ 22,266,921		16,108,051		11,124,884
Total Policyholders' account balance			$ 16,432,032		$ 11,465,411
Weighted-average crediting rate	1.40%		1.26%		1.25%
Net amount at risk	$ 0		$ 0		$ 0
Cash surrender value	20,490,433		13,844,151		11,250,816
Variable Annuties | PALAC
Additional Liability, Long-Duration Insurance [Roll Forward]
Change in market value and other adjustments					7,203,000
Variable / Universal Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of period	18,736,365		18,762,548		18,363,958
Deposits	2,117,153		2,173,035		2,523,000
Interest credited	556,057		583,814		508,391
Policy charges	(1,810,644)		(1,795,879)		(1,740,260)
Surrenders and withdrawals	(845,436)		(873,034)		(990,423)
Benefit payments	(83,409)		(103,358)		(132,586)
Transfer (to) from separate account	1,175,575		213,752		164,405
Change in market value and other adjustments	322,052		(224,513)		66,063
Balance, end of period	20,167,713		18,736,365		18,762,548
Less: Reinsurance and other recoverable	12,830,700		12,896,517		11,706,343
Policyholders' account balance net of reinsurance and other recoverables	$ 7,337,013		5,839,848		7,056,205
Total Policyholders' account balance			$ 18,736,365		$ 18,762,548
Weighted-average crediting rate	2.86%		3.11%		2.74%
Net amount at risk	$ 323,508,432		$ 304,864,582		$ 309,431,313
Cash surrender value	18,676,852		17,137,744		16,915,935
Variable Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Transfer (to) from separate account	1,175,575		$ 213,752		$ 164,405
Policy loans | Variable Life
Additional Liability, Long-Duration Insurance [Roll Forward]
Transfer (to) from separate account	$ 900,000
[1]Prior period amounts reflect 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	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 53,012,800	$ 41,912,536	[1]	$ 35,730,680
1 - 50 bps above guaranteed minimum | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	50	50		50
1 - 50 bps above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	1	1		1
51 - 150 bps above guaranteed minimum | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	150	150		150
51 - 150 bps above guaranteed minimum | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	51	51		51
Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	150	150		150
Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances		$ 3,575,823		$ 3,005,867	$ 379,981
Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances		16,432,032		11,465,411	3,634,125
Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances		18,736,365		18,762,548	$ 18,363,958
Less than 1.00% | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 118,813	$ 0		$ 0
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
Less than 1.00% | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 105	$ 0		$ 0
Less than 1.00% | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	337	0		0
Less than 1.00% | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	994	0		0
Less than 1.00% | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	117,377	0		0
Less than 1.00% | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 1,733,642	$ 1,888,628		$ 1,984,263
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
Less than 1.00% | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 908,097	$ 1,008,763		$ 1,070,567
Less than 1.00% | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	807,460	861,119		894,487
Less than 1.00% | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	18,083	18,744		19,207
Less than 1.00% | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2	2		2
Less than 1.00% | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 196,692	$ 11,902		$ 18,091
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
Less than 1.00% | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 0	$ 11,902		$ 18,091
Less than 1.00% | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Less than 1.00% | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Less than 1.00% | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	196,692	0		0
1.00% - 1.99% | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 874,784	$ 927,039		$ 9,470
1.00% - 1.99% | Fixed Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1.99%	1.99%		1.99%
1.00% - 1.99% | Fixed Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
1.00% - 1.99% | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 487,191	$ 521,189		$ 9,470
1.00% - 1.99% | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	73,393	73,554		0
1.00% - 1.99% | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	234,487	248,881		0
1.00% - 1.99% | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	79,713	83,415		0
1.00% - 1.99% | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 217,498	$ 246,774		$ 269,036
1.00% - 1.99% | Variable Annuties | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1.99%	1.99%		1.99%
1.00% - 1.99% | Variable Annuties | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
1.00% - 1.99% | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 214,377	$ 243,223		$ 267,409
1.00% - 1.99% | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,061	2,257		1,627
1.00% - 1.99% | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	1,060	1,294		0
1.00% - 1.99% | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
1.00% - 1.99% | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 3,317,734	$ 3,120,332		$ 2,918,031
1.00% - 1.99% | Variable / Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1.99%	1.99%		1.99%
1.00% - 1.99% | Variable / Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	1%	1%		1%
1.00% - 1.99% | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 201,121	$ 418,399		$ 380,144
1.00% - 1.99% | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
1.00% - 1.99% | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,588,458	773,591		0
1.00% - 1.99% | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	528,155	1,928,342		2,537,887
2.00% - 2.99% | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 1,349,636	$ 208,420		$ 213,321
2.00% - 2.99% | Fixed Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2.99%	2.99%		2.99%
2.00% - 2.99% | Fixed Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2%	2%		2%
2.00% - 2.99% | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 301,132	$ 208,420		$ 213,321
2.00% - 2.99% | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	469,276	0		0
2.00% - 2.99% | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	562,347	0		0
2.00% - 2.99% | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	16,881	0		0
2.00% - 2.99% | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 31,529	$ 27,751		$ 30,800
2.00% - 2.99% | Variable Annuties | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2.99%	2.99%		2.99%
2.00% - 2.99% | Variable Annuties | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2%	2%		2%
2.00% - 2.99% | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 23,323	$ 26,778		$ 30,738
2.00% - 2.99% | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	4,071	973		62
2.00% - 2.99% | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	4,135	0		0
2.00% - 2.99% | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
2.00% - 2.99% | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 4,523,671	$ 4,391,725		$ 4,298,598
2.00% - 2.99% | Variable / Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2.99%	2.99%		2.99%
2.00% - 2.99% | Variable / Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	2%	2%		2%
2.00% - 2.99% | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 28,061	$ 32,651		$ 10,227
2.00% - 2.99% | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	1,445,439	121,200		0
2.00% - 2.99% | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,789,520	2,413,571		3,735,376
2.00% - 2.99% | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	260,651	1,824,303		552,995
3.00% - 4.00% | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 29,131	$ 38,195		$ 42,418
3.00% - 4.00% | Fixed Annuities | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
3.00% - 4.00% | Fixed Annuities | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	3%	3%		3%
3.00% - 4.00% | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 29,131	$ 38,195		$ 42,418
3.00% - 4.00% | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
3.00% - 4.00% | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
3.00% - 4.00% | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
3.00% - 4.00% | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 913,231	$ 1,073,205		$ 1,150,448
3.00% - 4.00% | Variable Annuties | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
3.00% - 4.00% | Variable Annuties | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	3%	3%		3%
3.00% - 4.00% | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 903,953	$ 1,070,958		$ 1,150,448
3.00% - 4.00% | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	9,245	2,247		0
3.00% - 4.00% | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	33	0		0
3.00% - 4.00% | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
3.00% - 4.00% | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 7,281,490	$ 6,964,283		$ 7,239,126
3.00% - 4.00% | Variable / Universal Life | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
3.00% - 4.00% | Variable / Universal Life | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rates	3%	3%		3%
3.00% - 4.00% | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 3,956,631	$ 4,737,864		$ 4,793,734
3.00% - 4.00% | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,217,133	3,510		2,048,590
3.00% - 4.00% | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	1,107,726	2,093,511		343,129
3.00% - 4.00% | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	129,398		53,673
Greater than 4.00% | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 0	$ 0		$ 0
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
Greater than 4.00% | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 0	$ 0		$ 0
Greater than 4.00% | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 2,046	$ 2,172		$ 2,415
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
Greater than 4.00% | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 2,046	$ 2,172		$ 2,415
Greater than 4.00% | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 2,136,137	$ 2,145,123		$ 2,092,925
Range of Guaranteed Minimum Crediting Rates	4%	4%		4%
Greater than 4.00% | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 2,136,137	$ 2,145,123		$ 2,092,925
Greater than 4.00% | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Greater than 4.00% | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	0	0		0
Total | Fixed Annuities
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,372,364	1,173,654		265,209
Total | Fixed Annuities | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	817,559	767,804		265,209
Total | Fixed Annuities | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	543,006	73,554		0
Total | Fixed Annuities | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	797,828	248,881		0
Total | Fixed Annuities | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	213,971	83,415		0
Total | Variable Annuties
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,897,946	3,238,530		3,436,962
Total | Variable Annuties | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2,051,796	2,351,894		2,521,577
Total | Variable Annuties | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	822,837	866,596		896,176
Total | Variable Annuties | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	23,311	20,038		19,207
Total | Variable Annuties | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	2	2		2
Total | Variable / Universal Life
Policyholder Account Balance [Line Items]
Policyholders’ account balances	17,455,724	16,633,365		16,566,771
Total | Variable / Universal Life | At guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	6,321,950	7,345,939		7,295,121
Total | Variable / Universal Life | 1 - 50 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	3,662,572	124,710		2,048,590
Total | Variable / Universal Life | 51 - 150 bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	6,485,704	5,280,673		4,078,505
Total | Variable / Universal Life | Greater than 150bps above guaranteed minimum
Policyholder Account Balance [Line Items]
Policyholders’ account balances	$ 985,498	$ 3,882,043		$ 3,144,555
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	$ 3,067,336	$ 2,398,788	$ 1,745,269
Unearned revenue	827,960	799,185	760,153
Amortization expense	(153,779)	(129,525)	(106,634)
Other adjustments	(91)	(1,112)	0
Balance, end of period	3,741,426	3,067,336	2,398,788
Less: Reinsurance recoverables	1,690,255	1,542,900	939,798
Unearned revenue reserve net of reinsurance recoverables	$ 2,051,171	$ 1,524,436	$ 1,458,990

Market Risk Benefits - Rollforw

Market Risk Benefits - Rollforward of Balances for Variable Annuity Products (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Variable Annuties
Market Risk Benefit [Roll Forward]
Balance, beginning of period	$ 4,550,625	$ 8,884,362	$ 13,577,543
Effect of cumulative changes in non-performance risk	1,727,910	287,605	722,837
Balance, beginning of period, before effect of changes in non-performance risk	6,278,535	9,171,967	14,300,380
Attributed fees collected	1,158,879	1,249,956	1,368,434
Claims Paid	(85,898)	(64,406)	(29,401)
Interest accrual	293,205	143,483	24,824
Actual in force different from expected	79,030	105,996	(19,290)
Effect of changes in interest rates	(1,438,873)	(7,271,427)	(3,461,436)
Effect of changes in equity markets	(1,845,207)	3,103,563	(2,789,777)
Effect of assumption update	330,769	(160,597)	(221,767)
Issuances	29,433
Other adjustments	(36,888)		0
Effect of changes in current period counterparty non-performance risk	0	0	0
Balance, end of period, before effect of changes in non-performance risk	4,762,985	6,278,535	9,171,967
Effect of cumulative changes in non-performance risk	(1,068,035)	(1,727,910)	(287,605)
Balance, end of period	3,694,950	4,550,625	8,884,362
Less: Reinsured Market Risk Benefits
Market Risk Benefit [Roll Forward]
Balance, beginning of period	(422,261)	(906,484)	(13,589,575)
Effect of cumulative changes in non-performance risk	0	0	0
Balance, beginning of period, before effect of changes in non-performance risk	(422,261)	(906,484)	(13,589,575)
Interest accrual	(53,016)	(13,438)	(16,593)
Actual in force different from expected	(13,338)	(9,968)	22,687
Effect of changes in interest rates	455,062	767,394	3,240,588
Effect of changes in equity markets	180,953	(326,575)	2,070,833
Effect of assumption update	(54,067)	23,171	221,767
Issuances	7,680
Other adjustments	(635,011)		8,223,470
Effect of changes in current period counterparty non-performance risk	(146,999)	187,910	(334,312)
Balance, end of period, before effect of changes in non-performance risk	(917,792)	(422,261)	(906,484)
Effect of cumulative changes in non-performance risk	0	0	0
Balance, end of period	(917,792)	(422,261)	(906,484)
Less: Reinsured Market Risk Benefits | Augustar
Market Risk Benefit [Roll Forward]
Other adjustments	638,000
Less: Reinsured Market Risk Benefits
Market Risk Benefit [Roll Forward]
Attributed fees collected	(246,747)	(147,727)	(759,997)
Claims Paid	9,952	3,456	14,648
Total, Net of Reinsurance
Market Risk Benefit [Roll Forward]
Balance, beginning of period	4,128,364	7,977,878	(12,032)
Effect of cumulative changes in non-performance risk	1,727,910	287,605	722,837
Balance, beginning of period, before effect of changes in non-performance risk	5,856,274	8,265,483	710,805
Attributed fees collected	912,132	1,102,229	608,437
Claims Paid	(75,946)	(60,950)	(14,753)
Interest accrual	240,189	130,045	8,231
Actual in force different from expected	65,692	96,028	3,397
Effect of changes in interest rates	(983,811)	(6,504,033)	(220,848)
Effect of changes in equity markets	(1,664,254)	2,776,988	(718,944)
Effect of assumption update	276,702	(137,426)	0
Issuances	37,113
Other adjustments	(671,899)		8,223,470
Effect of changes in current period counterparty non-performance risk	(146,999)	187,910	(334,312)
Balance, end of period, before effect of changes in non-performance risk	3,845,193	5,856,274	8,265,483
Effect of cumulative changes in non-performance risk	(1,068,035)	(1,727,910)	(287,605)
Balance, end of period	$ 2,777,158	$ 4,128,364	$ 7,977,878

Market Risk Benefits - Market R

Market Risk Benefits - Market Risk Benefits In Asset and Liability Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Market risk benefits assets	$ 2,367,243	$ 1,393,237	[1]
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Variable Annuties
Liability for Future Policy Benefit, Activity [Line Items]
Net amount at risk	$ 9,041,651	$ 12,141,947		$ 2,566,157
Weighted-average attained age of contractholders	70 years	68 years		66 years
Market risk benefits assets	$ 2,367,243	$ 1,393,237		$ 1,786,565
Market risk benefit liabilities	5,144,401	5,521,601		9,764,443
Net liability		4,550,625		8,884,362	$ (12,032)	$ 13,577,543
Total, Net of Reinsurance
Liability for Future Policy Benefit, Activity [Line Items]
Net liability	$ 2,777,158	$ 4,128,364		$ 7,977,878		$ (12,032)
[1]Prior period amounts reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Reinsurance (Balance Sheet Rein

Reinsurance (Balance Sheet Reinsurance Results) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Effects of Reinsurance [Line Items]
Reinsurance recoverables	$ 38,709,651	$ 37,096,562
Policy loans	(1,472,677)	(505,367)
Deferred policy acquisition costs	(7,097,511)	(6,930,425)	[1]	$ (7,029,308)	$ (2,493,082)	$ (2,493,082)
Deferred sales inducements	(351,424)	(381,504)	[1]
Market risk benefits assets	2,367,243	1,393,237	[1]
Other Assets	2,078,938	1,331,427	[1]
Future policy benefits	23,205,205	20,829,033	[1]	$ 21,510,749
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Other Liabilities	5,170,308	3,597,373	[1]
Impacts of Reinsurance
Effects of Reinsurance [Line Items]
Reinsurance recoverables	38,709,651	37,096,562
Policy loans	(1,082,584)	(1,011,112)
Deferred policy acquisition costs	(3,195,161)	(3,343,270)
Deferred sales inducements	(35,313)	(38,146)
Market risk benefits assets	1,165,378	543,177
Other Assets	1,897,410	1,146,794
Policyholders’ account balances	5,977,108	7,157,639
Future policy benefits	7,026,209	6,320,863
Market risk benefit liabilities	249,538	120,916
Other Liabilities	4,397,862	2,891,433
Unaffiliated activity
Effects of Reinsurance [Line Items]
Market risk benefits assets	745,662	64,738
Other Assets	1,795,422	1,034,000
Policyholders’ account balances	1,830,579	2,771,961
Future policy benefits	453	0
Market risk benefit liabilities	131,594	40,731
Other Liabilities	1,915,205	820,185
Unaffiliated activity
Effects of Reinsurance [Line Items]
Deferred policy acquisition costs	$ 71,315	$ 111,379
[1]Prior period amounts reflect 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	Dec. 31, 2023	Dec. 31, 2022
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 38,709,651	$ 37,096,562
PAR U
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	15,722,061	15,051,337
PURC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	7,565,968	6,928,950
PARCC
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,304,270	2,437,589
GUL Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	3,211,899	3,124,697
PAR Term
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,101,004	2,040,599
Prudential Insurance
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	1,311,525	986,013
Term Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,080,564	1,830,197
Lotus Re
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	2,051,831	1,952,215
DART
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	744,043	578,462
Unaffiliated activity
Effects of Reinsurance [Line Items]
Total reinsurance recoverables	$ 1,616,486	$ 2,166,503

Reinsurance (Income Statement R

Reinsurance (Income Statement Reinsurance Results) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Premiums:
Direct		$ 1,853,184	$ 1,868,709		$ 1,903,865
Assumed		(61)	776		162
Ceded		(1,524,226)	(1,604,277)		(1,719,569)
Net premiums		328,897	265,208	[1]	184,458	[1]
Policy charges and fee income:
Direct		2,995,595	3,034,193		3,348,259
Assumed		604,311	594,622		565,814
Ceded		(2,063,300)	(2,398,214)		(2,613,978)
Net policy charges and fee income		1,536,606	1,230,601	[1]	1,300,095	[1]
Net investment income:
Direct		1,700,684	920,674		555,404
Assumed		1,364	1,513		1,049
Ceded		(26,526)	(38,186)		(6,218)
Net investment income		1,675,522	884,001		550,235
Asset administration fees:
Direct		323,444	351,600		403,359
Assumed		0	0		0
Ceded		(90,494)	(67,418)		(201,182)
Net asset administration fees		232,950	284,182		202,177
Other income (loss):
Direct		636,930	(731,796)		227,035
Assumed		(475)	271		(66)
Ceded		108,173	80,056		35,451
Net other income		744,628	(651,469)	[1]	262,420	[1]
Realized investment gains (losses), net:
Direct		(1,195,753)	497,016		(388,914)
Assumed		162,291	(244,000)		12,592
Ceded		(50,198)	83,366		(10,572)
Realized investment gains (losses), net		(1,083,660)	336,382	[2]	(386,894)	[1]
Change in value of market risk benefits, net of related hedging gain (loss):
Direct		298,425	(181,260)		9,096,963
Assumed		(2,199)	0		0
Ceded		(390,594)	(519,321)		(13,319,493)
Net change in value of market risk benefits, net of related hedging gain (loss)		(94,368)	(700,581)	[1]	(4,222,530)	[2]
Policyholders’ benefits (including change in reserves):
Direct		3,354,306	3,362,353		3,215,531
Assumed		1,258,651	1,107,436		905,325
Ceded		(4,109,168)	(4,011,416)		(4,038,146)
Net policyholders’ benefits (including change in reserves)		503,789	458,373	[1]	82,710	[1]
Change in estimates of liability for future policy benefits:
Direct		(18,361)	1,716,983		99,202
Assumed		8,644	679,863		(16,166)
Ceded		13,669	(2,341,747)		(56,028)
Net change in estimates of liability for future policy benefits		3,952	55,099		27,008
Interest credited to policyholders’ account balances:
Direct		918,327	805,411		525,038
Assumed		136,725	74,402		138,202
Ceded		(399,607)	(434,598)		(814,629)
Net interest credited to policyholders’ account balances	[1]				(151,389)
Net interest credited to policyholders’ account balances		655,445	445,215	[1]
Reinsurance expense allowances and general and administrative expenses, net of capitalization and amortization		(399,870)	(150,374)		(2,195,677)
Unaffiliated activity
Premiums:
Assumed		(69)	149		162
Ceded		(70,169)	(42,721)		(26,143)
Policy charges and fee income:
Assumed		1,563	2,113		0
Ceded		(143,764)	(81,781)		(65,451)
Net investment income:
Ceded		23,023	10,802		687
Asset administration fees:
Ceded		(22,415)	0		0
Other income (loss):
Assumed		(211)	270		(68)
Ceded		37,526	3,243		0
Realized investment gains (losses), net:
Assumed		162,291	778,620		0
Ceded		(45,711)	82,386		80,540
Change in value of market risk benefits, net of related hedging gain (loss):
Assumed		(2,199)	0		0
Ceded		(186,996)	(120,663)		(130,654)
Policyholders’ benefits (including change in reserves):
Assumed		804	2,566		429
Ceded		(157,344)	(94,402)		(186,927)
Change in estimates of liability for future policy benefits:
Ceded		(1,367)	(6,824)		0
Interest credited to policyholders’ account balances:
Assumed		$ 16,243	$ (95,285)		$ 0
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect 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	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reinsurance Disclosures [Abstract]
Direct gross life insurance face amount in force	$ 1,127,561,798	$ 1,093,610,227	$ 1,079,382,740
Assumed gross life insurance face amount in force	35,558,423	36,668,045	37,822,851
Reinsurance ceded	(1,027,473,705)	(1,009,571,304)	(992,635,327)
Net life insurance face amount in force	$ 135,646,516	$ 120,706,968	$ 124,570,264

Reinsurance (Narrative) (Detail

Reinsurance (Narrative) (Details) $ in Thousands

3 Months Ended

12 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

Jan. 31, 2001

Dec. 31, 2021 USD ($)

Dec. 31, 2023 USD ($) counterparty

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2016

Dec. 31, 2019

Dec. 31, 2019

Dec. 31, 2016

Dec. 31, 2013

Dec. 31, 2017

Dec. 31, 2013

Oct. 01, 2021 USD ($)

Dec. 31, 2020 USD ($)

Effects of Reinsurance [Line Items]

Policy charges and fee income

$ 1,536,606

$ 1,230,601

[1]

$ 1,300,095

[1]

Policy loans

1,472,677

505,367

Deferred Reinsurance Gain

$ 252,736

1,673,291

1,492,856

252,736

$ 174,259

Reinsurance recoverables

38,709,651

37,096,562

Variable Annuties

Effects of Reinsurance [Line Items]

Deferred Reinsurance Gain

0

261,721

0

0

0

Fixed Annuities

Effects of Reinsurance [Line Items]

Deferred Reinsurance Gain

$ 78,138

48,074

57,898

78,138

$ 0

Impacts of Reinsurance

Effects of Reinsurance [Line Items]

Policy loans

1,082,584

1,011,112

Reinsurance recoverables

38,709,651

37,096,562

PAR U

Effects of Reinsurance [Line Items]

Reinsurance recoverables

15,722,061

15,051,337

PURC

Effects of Reinsurance [Line Items]

Reinsurance recoverables

7,565,968

6,928,950

PARCC

Effects of Reinsurance [Line Items]

Reinsurance recoverables

2,304,270

2,437,589

GUL Re

Effects of Reinsurance [Line Items]

Reinsurance recoverables

3,211,899

3,124,697

PAR Term

Effects of Reinsurance [Line Items]

Reinsurance recoverables

2,101,004

2,040,599

Term Re

Effects of Reinsurance [Line Items]

Reinsurance recoverables

2,080,564

1,830,197

Prudential Insurance

Effects of Reinsurance [Line Items]

Reinsurance recoverables

1,311,525

986,013

Lotus Re

Effects of Reinsurance [Line Items]

Reinsurance recoverables

2,051,831

1,952,215

DART

Effects of Reinsurance [Line Items]

Reinsurance recoverables

744,043

578,462

FLIAC | Variable Annuties

Effects of Reinsurance [Line Items]

Funds held under reinsurance agreements

5,300,000

FLIAC | Fixed Annuities

Effects of Reinsurance [Line Items]

Funds held under reinsurance agreements

$ 2,000,000

Percent of total reinsured block

0.80

Somerset Re

Effects of Reinsurance [Line Items]

Deposit assets on reinsurance

$ 1,618,000

828,000

Funds withheld liabilities

1,518,000

$ 705,000

Union Hamilton

Effects of Reinsurance [Line Items]

Reinsurance recoverables

$ 2,300,000

Union Hamilton | Quote Share Reinsurance

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

50%

AuguStar

Effects of Reinsurance [Line Items]

Reinsured Amount

$ 10,000,000

Deferred Reinsurance Gain

$ 277,000

Percent of total reinsured block

0.10

AuguStar | Separate account liabilities under MODCO

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

100%

AuguStar | General account liabilities under MODCO

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

100%

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 | Prudential of Taiwan

Effects of Reinsurance [Line Items]

Related Party Transaction, Term

2 years

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]

Policy charges and fee income

$ (305,000)

Number Of Counterparties | counterparty

2

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

1,387,000

Net liabilities associated with the transaction for modified coinsurance

14,037,000

14,037,000

Policy loans

855,000

855,000

Cash received

820,000

$ 820,000

Recognized gains

$ 1,352,000

Affiliated Entity | DART

Effects of Reinsurance [Line Items]

Reinsurance Retention Policy, Reinsured Risk, Percentage

95%

[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Income Taxes (Components of Inc

Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Current tax expense (benefit):
U.S. federal	$ 698,170	$ (345,263)		$ 440,649
State and local	14,550	4,479		5,002
Total	712,720	(340,784)		445,651
Deferred tax expense (benefit):
U.S. federal	(683,342)	45,249		(920,437)
Total	(683,342)	45,249		(920,437)
Income tax expense (benefit)	29,378	(295,535)	[1]	(474,786)	[1]
Income tax expense (benefit) on equity in earnings of operating joint ventures	(109)	(193)		(147)
Income tax expense (benefit) reported in equity related to:
Other comprehensive income (loss)	(5,627)	(106,197)		(128,241)
Total income tax expense (benefit)	$ 23,642	$ (401,925)		$ (603,174)
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21%	21%	21%
Effective tax rate	6%	29.90%	25.40%
Percent of income tax expense (benefit)	5%
Income (loss) from domestic operations	$ 492	$ (987)	$ (1,870)
DRD constituting non-taxable investment income	40	44	46
Non-taxable investment income	$ 43	$ 46	$ 49

Income Taxes (Reconciliation To

Income Taxes (Reconciliation To Effective Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%		21%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Expected federal income tax expense (benefit)	$ 103,215	$ (207,292)		$ (392,740)
Non-taxable investment income	(42,730)	(46,426)		(48,662)
Tax credits	(42,578)	(47,544)		(36,806)
Changes in tax law	0	0		(3,644)
State and Local Income Tax Expense (Benefit)	11,495	3,538		3,952
Other	(24)	2,189		3,114
Total income tax expense (benefit) on income (loss) before equity in earnings of operating joint ventures	$ 29,378	$ (295,535)	[1]	$ (474,786)	[1]
Effective tax rate	6%	29.90%		25.40%
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Income Taxes (Deferred Tax Asse

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Insurance reserves	$ 1,660,421	$ 1,235,687
Deferred Tax Assets, Investments	776,190	354,538
Net unrealized loss on securities	296,749	481,989
Other	4,723	2,801
Deferred tax assets	2,738,083	2,075,015
Deferred tax liabilities:
Deferred policy acquisition cost	936,929	954,953
Deferred sales inducements	72,791	80,116
Deferred tax liabilities	1,009,720	1,035,069
Net deferred tax asset	$ 1,728,363	$ 1,039,946

Equity (Accumulated Other Compr

Equity (Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	[1]	$ (10,065)
Income tax benefit (expense)		5,627	$ 106,197		$ 128,241
Ending balance		(30,920)	(10,065)	[1]
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(20,007)	(11,274)		(7,797)
Cumulative effect of adoption of ASU 2018-12					0
Change in OCI before reclassifications		2,419	(9,337)		(3,891)
Amounts reclassified from AOCI		0	0		0
Income tax benefit (expense)		(497)	604		414
Ending balance		(18,085)	(20,007)		(11,274)
Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(1,474,475)	306,331		553,925
Cumulative effect of adoption of ASU 2018-12					(81,364)
Change in OCI before reclassifications		677,735	(2,249,609)		(185,492)
Amounts reclassified from AOCI		14,217	(4,428)		(24,994)
Income tax benefit (expense)		(145,255)	473,231		44,256
Ending balance		(927,778)	(1,474,475)		306,331
AOCI, Liability for Future Policy Benefit, Parent
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		119,368	(125,809)		0
Cumulative effect of adoption of ASU 2018-12					(155,255)
Change in OCI before reclassifications		(60,978)	310,351		37,274
Amounts reclassified from AOCI		0	0		0
Income tax benefit (expense)		12,805	(65,174)		(7,828)
Ending balance		71,195	119,368		(125,809)
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		1,365,049	227,206		0
Cumulative effect of adoption of ASU 2018-12					571,039
Change in OCI before reclassifications		(659,875)	1,440,307		(435,232)
Amounts reclassified from AOCI		0	0		0
Income tax benefit (expense)		138,574	(302,464)		91,399
Ending balance		843,748	1,365,049		227,206
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(10,065)	396,454		546,128
Cumulative effect of adoption of ASU 2018-12					334,420
Change in OCI before reclassifications		(40,699)	(508,288)		(587,341)
Amounts reclassified from AOCI		14,217	(4,428)		(24,994)
Income tax benefit (expense)		5,627	106,197		128,241
Ending balance		(30,920)	(10,065)		396,454
Cash flow hedges | Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		139,000	40,000
Ending balance		$ 12,000	$ 139,000		$ 40,000
[1]Prior period amounts reflect the implementation of Accounting Standard Update ("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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	$ 14,217	$ (4,428)	$ (24,994)
Accumulated Other   Comprehensive  Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	14,217	(4,428)	(24,994)
Amounts reclassified from AOCI | Total net unrealized investment gains (losses)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(14,217)	4,428	24,994
Amounts reclassified from AOCI | Accumulated Other   Comprehensive  Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from AOCI	(14,217)	4,428	24,994
Amounts reclassified from AOCI | Net unrealized investment gains (losses) on available-for-sale securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Unrealized Gain (Loss) on Investments	(31,193)	(74,005)	(3,514)
Amounts reclassified from AOCI | Currency/Interest Rate | Cash flow hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Unrealized Gain (Loss) on Investments	$ 16,976	$ 78,433	$ 28,508

Equity (Net Unrealized Investme

Equity (Net Unrealized Investment Gains (Losses) in AOCI on AFS Fixed Maturity Securities with OTTI, Allowance for Credit Losses and All Other Investments (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	[1]	$ (10,065)
Ending balance		(30,920)	$ (10,065)	[1]
Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(1,474,475)	306,331		$ 553,925
Cumulative effect of adoption of ASU 2018-12					(81,364)
Ending balance		(927,778)	(1,474,475)		306,331
Net Unrealized Investment Gains (losses) | Accumulated Net Unrealized Investment Gains (Losses) Pre-Tax with Allowance
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		4,371	3,685		0
Cumulative effect of adoption of ASU 2018-12					0
Net unrealized investment gains (losses) on investments arising during period		(4,482)	(149)		2,951
Reclassification adjustment for (gains) losses included in net income		(265)	831		(8)
Reclassification due to allowance for credit losses recorded during the period		2,363	4		742
Impact of net unrealized investment (gains) losses		0	0		0
Ending balance		1,987	4,371		3,685
Net Unrealized Investment Gains (losses) | Accumulated Net Unrealized Investment Gains (Losses) Pre Tax All Other
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(2,161,026)	581,718		849,349
Cumulative effect of adoption of ASU 2018-12					(1,000)
Net unrealized investment gains (losses) on investments arising during period		744,727	(2,737,481)		(240,903)
Reclassification adjustment for (gains) losses included in net income		14,482	(5,259)		(24,986)
Reclassification due to allowance for credit losses recorded during the period		(2,363)	(4)		(742)
Impact of net unrealized investment (gains) losses		0	0		0
Ending balance		(1,404,180)	(2,161,026)		581,718
Net Unrealized Investment Gains (losses) | Deferred Policy Acquisition Costs and Other Costs
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(1,198,422)	835,430		1,200,048
Cumulative effect of adoption of ASU 2018-12					(89,160)
Net unrealized investment gains (losses) on investments arising during period		0	0		0
Reclassification adjustment for (gains) losses included in net income		0	0		0
Reclassification due to allowance for credit losses recorded during the period		0	0		0
Impact of net unrealized investment (gains) losses		397,071	(2,033,852)		(275,458)
Ending balance		(801,351)	(1,198,422)		835,430
Net Unrealized Investment Gains (losses) | Future Policy Benefits and Policyholders' Account Balances and Other Liabilities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		1,488,679	(1,033,194)		(1,348,231)
Cumulative effect of adoption of ASU 2018-12					(12,880)
Net unrealized investment gains (losses) on investments arising during period		0	0		0
Reclassification adjustment for (gains) losses included in net income		0	0		0
Reclassification due to allowance for credit losses recorded during the period		0	0		0
Impact of net unrealized investment (gains) losses		(459,581)	2,521,873		327,917
Ending balance		1,029,098	1,488,679		(1,033,194)
Net Unrealized Investment Gains (losses) | Income Tax Benefit (Expense)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		391,923	(81,308)		(147,241)
Cumulative effect of adoption of ASU 2018-12					21,677
Net unrealized investment gains (losses) on investments arising during period		(155,393)	574,760		50,016
Reclassification adjustment for (gains) losses included in net income		(2,984)	930		5,254
Reclassification due to allowance for credit losses recorded during the period		0	0		0
Impact of net unrealized investment (gains) losses		13,122	(102,459)		(11,014)
Ending balance		246,668	391,923		(81,308)
Net Unrealized Investment Gains (losses) | Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Investment Gains (Losses)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance		(1,474,475)	306,331		553,925
Cumulative effect of adoption of ASU 2018-12					(81,363)
Net unrealized investment gains (losses) on investments arising during period		584,852	(2,162,870)		(187,936)
Reclassification adjustment for (gains) losses included in net income		11,233	(3,498)		(19,740)
Reclassification due to allowance for credit losses recorded during the period		0	0		0
Impact of net unrealized investment (gains) losses		(49,388)	385,562		41,445
Ending balance		$ (927,778)	$ (1,474,475)		$ 306,331
[1]Prior period amounts reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Statutory Net Income and Surp_3

Statutory Net Income and Surplus and Dividend Restrictions (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
Statutory Accounting Practices [Line Items]
Statutory net income (loss)	$ 4,923	$ 3,317	[1]	$ 833	[1]
Statutory capital and surplus	5,161	5,205	[1]	5,955	[1]
Statutory surplus capacity to pay divided without prior approval in 2024	0
Return of Capital	1,400
Statutory dividend paid to Prudential Insurance	$ 0	$ 0		$ 0
Pruco Life Insurance
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices Dividends And Distributions Surplus Restriction	10%
[1]

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)	3 Months Ended											9 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) policy	Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)		Aug. 01, 2021 USD ($)
Related Party Transaction [Line Items]
Commissions and fees													$ 1,536,606,000	$ 1,230,601,000	[1]	$ 1,300,095,000	[1]
Company's share of corporate expenses													(979,287,000)	(1,655,673,000)		(2,044,942,000)
Payments to Fund Policy Loans													1,162,959,000	144,764,000		122,297,000
Policy loans	$ 1,472,677,000												1,472,677,000	505,367,000
Net investment income													1,675,522,000	884,001,000		550,235,000
Accrued investment income	333,838,000												333,838,000	219,635,000
Long-term debt to affiliates	0												0	185,563,000
Contributed / (return of) capital														0		776,657,000
Return of Capital													1,400,000,000
Prudential Insurance
Related Party Transaction [Line Items]
Contributed / (return of) capital	7,000,000			$ 405,000,000	$ 7,000,000	$ 3,000,000	$ 8,000,000	$ 457,000,000	$ 3,813,000,000		$ 106,000,000
Return of Capital	450,000,000	$ 650,000,000	$ 300,000,000							$ 34,000,000			(1,400,000,000)	0
Dividend													0	0		0
PALAC
Related Party Transaction [Line Items]
Contributed / (return of) capital								$ 167,000,000
PALAC
Related Party Transaction [Line Items]
Market value of loan																		$ 324,000,000
Premium from Transactions with Related Party												$ 24,000,000
Prudential Insurance and Prudential FInancial
Related Party Transaction [Line Items]
Life Insurance, Corporate or Bank Owned, amount	4,156,000,000												4,156,000,000	4,512,000,000
Fees related to Life Insurance, Corporate or Bank Owned, amount													50,000,000	52,000,000		56,000,000
Prudential Insurance
Related Party Transaction [Line Items]
Stock option program plan expense													1,000,000	1,000,000		1,000,000
Deferred compensation program expense													5,000,000	5,000,000		4,000,000
Pension plan expense													13,000,000	19,000,000		14,000,000
Welfare plan expense													$ 14,000,000	15,000,000		13,000,000
Defined contribution plan, employer matching contribution, percent (up to)													4%
Defined contribution plan, cost recognized													$ 7,000,000	9,000,000		5,000,000
Number of Corporate Owned Life Insurance policies sold | policy													5
PRUCO Life Insurance Company
Related Party Transaction [Line Items]
Company's share of corporate expenses													$ 144,000,000	105,000,000		86,000,000
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 and Fee Income, Other Loans													26,000,000
Affiliated Entity
Related Party Transaction [Line Items]
Net investment income													6,900,000	4,600,000		1,700,000
Accrued interest receivable related to long-term notes	1,000,000												1,000,000	1,000,000
Revenue related to long-term notes receivable													3,000,000	3,000,000		4,000,000
Accrued investment income	500,000												500,000	500,000
Line of credit facility, maximum borrowing capacity	7,000,000,000												7,000,000,000
Long-term debt to affiliates	0												0
Interest expense related to loans payable, Related Party													17,000,000	3,000,000		0
Affiliated Entity | PAD
Related Party Transaction [Line Items]
Commissions and fees													587,000,000	611,000,000		379,000,000
Affiliated Entity | ASTISI and Prudential Investments
Related Party Transaction [Line Items]
Fee income from revenue sharing agreement													274,000,000	306,000,000		374,000,000
Affiliated Entity | PGIM Investments
Related Party Transaction [Line Items]
Fee income from revenue sharing agreement													38,000,000	36,000,000		21,000,000
Affiliated Entity | PGIM
Related Party Transaction [Line Items]
Net investment income													53,000,000	41,000,000		20,000,000
Prudential Financial Joint Venture
Related Party Transaction [Line Items]
Net investment income													5,000,000	21,000,000		$ 39,000,000
Other invested assets	$ 754,000,000												754,000,000	606,000,000
PGF
Related Party Transaction [Line Items]
Investment Income, Interest													$ 499,000,000	$ 137,000,000
[1]Prior period amounts reflect 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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Total long-term notes receivable - affiliated	$ 147,984	$ 148,076
U.S. Dollar fixed rate notes
Related Party Transaction [Line Items]
Total long-term notes receivable - affiliated	$ 147,984	$ 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 Transactions (A_2

Related Party Transactions (Affiliate Commercial Mortgage Loan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Commercial Mortgage Loans	$ 6,122,721	$ 4,928,680
Affiliated Entity | Commercial mortgage Loans
Related Party Transaction [Line Items]
Interest Rates	9.85%
Commercial Mortgage Loans	$ 71,038	$ 72,225

Related Party Transactions (A_3

Related Party Transactions (Affiliated Asset Transfers) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	[1]	Dec. 31, 2021	[2]
Related Party Transaction [Line Items]
Realized investment gains (losses), net	$ (1,083,660)	$ 336,382		$ (386,894)
Affiliated Entity | PALAC - January 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	4,432
Book Value	4,432
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | PALAC - January 2022 - Purchase - Derivatives
Related Party Transaction [Line Items]
Fair Value	404
Book Value	404
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | PALAC - February 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	128,909
Book Value	128,909
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Arizona Reinsurance Universal Co - April 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,970
Book Value	48,970
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - May 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	233,426
Book Value	241,128
APIC, Net of Tax Increase/ (Decrease)	6,085
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - June 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	88,754
Book Value	81,216
APIC, Net of Tax Increase/ (Decrease)	(5,955)
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - June 2022 - Transfer In - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	52,089
Book Value	45,031
APIC, Net of Tax Increase/ (Decrease)	(5,577)
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - June 2022 - Transfer Out - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,786
Book Value	58,984
APIC, Net of Tax Increase/ (Decrease)	(8,057)
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Arizona Reinsurance Universal Co - June 2022 - Purchase - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	6,492
Book Value	6,492
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Arizona Reinsurance Universal Co - June 2022 - Sale - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	14,853
Book Value	15,725
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	(872)
Affiliated Entity | Gibraltar Universal Life Reinsurance Co - June 2022 - Purchase - Commercial and Other Loans
Related Party Transaction [Line Items]
Fair Value	13,551
Book Value	13,551
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Gibraltar Universal Life Reinsurance Co - June 2022 - Sale - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	8,692
Book Value	9,033
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	(341)
Affiliated Entity | Prudential Universal Reinsurance Co - June 2022 - Purchase - Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	4,403
Book Value	4,403
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - July 2022 - Transfer in - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	6,319
Book Value	7,230
APIC, Net of Tax Increase/ (Decrease)	719
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Arizona Reinsurance Captive Co - July 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	16,284
Book Value	16,284
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - August 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	155,823
Book Value	139,712
APIC, Net of Tax Increase/ (Decrease)	(12,728)
Realized investment gains (losses), net	0
Affiliated Entity | Vantage Casualty Insurance Co - September 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	3,497
Book Value	3,497
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | WH Warehouse Ltd - October 2022 - Sale - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	26,536
Book Value	26,388
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	148
Affiliated Entity | PARU, November 2022, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	91,051
Book Value	91,051
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - December 2022 - Purchase - Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	67,477
Book Value	71,369
APIC, Net of Tax Increase/ (Decrease)	3,075
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, January 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	48,329
Book Value	50,372
APIC, Net of Tax Increase/ (Decrease)	1,614
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, March 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	7,175
Book Value	7,500
APIC, Net of Tax Increase/ (Decrease)	256
Realized investment gains (losses), net	0
Affiliated Entity | PURC, April 2023, Purchase, Fixed maturities
Related Party Transaction [Line Items]
Fair Value	102,804
Book Value	102,804
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Term Re, June 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	115,573
Book Value	115,573
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities
Related Party Transaction [Line Items]
Fair Value	4,298
Book Value	4,443
APIC, Net of Tax Increase/ (Decrease)	114
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 1
Related Party Transaction [Line Items]
Fair Value	4,394
Book Value	4,494
APIC, Net of Tax Increase/ (Decrease)	80
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 2
Related Party Transaction [Line Items]
Fair Value	19,453
Book Value	19,203
APIC, Net of Tax Increase/ (Decrease)	(198)
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, June 2023, Purchase, Fixed Maturities 3
Related Party Transaction [Line Items]
Fair Value	14,452
Book Value	15,086
APIC, Net of Tax Increase/ (Decrease)	502
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance, September 2023, Purchase, Fixed Maturities 4
Related Party Transaction [Line Items]
Fair Value	15,880
Book Value	15,801
APIC, Net of Tax Increase/ (Decrease)	(62)
Realized investment gains (losses), net	0
Affiliated Entity | Prudential Insurance - December 2023, Sale, Commercial Mortgage and Other Loans
Related Party Transaction [Line Items]
Fair Value	762
Book Value	754
APIC, Net of Tax Increase/ (Decrease)	0
Realized investment gains (losses), net	$ 8
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Related Party Transactions (Deb

Related Party Transactions (Debt Agreements) (Details) - Affiliated Entity - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 180,411,000	$ 311,813,000
Short-term debt to affiliates	180,000,000
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	96,666,000
Interest Rates	4.39%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	29,000,000
Interest Rates	4.39%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 94,953,000	97,665,000
Interest Rates	3.95%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 37,981,000	39,066,000
Interest Rates	3.95%
Prudential Insurance Loan Issued 8/13/2021
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 47,477,000	48,832,000
Interest Rates	3.95%
Prudential Funding LLC Loan Issued 12282022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	138,000
Interest Rates	4.73%
Prudential Funding LLC Loan Issued 12292022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	62,000
Interest Rates	4.73%
Prudential Funding LLC Loan Issued 12302022
Related Party Transaction [Line Items]
Short-term and Long-term debt	$ 0	$ 384,000
Interest Rates	4.73%

Commitments and Contingent Li_3

Commitments and Contingent Liabilities (Details) - Guarantee of Asset Values - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commitments and Contingent Liabilities [Line Items]
Guaranteed value of third-party assets	$ 311,302	$ 0
Fair value of collateral supporting these assets	287,621	0
Asset (liability) associated with guarantee, carried at fair value	$ 1,000	$ 0

Commitments and Contingent Li_4

Commitments and Contingent Liabilities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	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
Indonesia | Joint Venture With CT Corp
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 commercial mortgage loan commitments	270	$ 333
Allowance for credit losses	0.3	0.1
Change in allowance for credit loss expense (reversal)	0.3	0.1
Commitments | Investments
Commitments and Contingent Liabilities [Line Items]
Commitments to purchase investment (excluding commercial mortgage loans)	1,182	582
Purchase Commitment
Commitments and Contingent Liabilities [Line Items]
Change in allowance for credit loss expense (reversal)	0	0
Other Guarantees
Commitments and Contingent Liabilities [Line Items]
Accrued Liabilities	$ 32	$ 33

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments Other Than investments in Related Parties (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	$ 27,538,066	$ 21,311,087
Fair Value	26,131,780	19,025,401
Equity securities, at cost	824,270	148,179
Equity securities, at fair value	844,950	143,072
Fixed maturities, trading, amortized cost	3,476,746	2,682,022
Fixed maturities, trading	2,796,446	1,936,159
Commercial Mortgage Loans	6,122,721	4,928,680
Policy loans	1,472,677	505,367
Short-term Investments	380,366
Other invested assets	1,222,985	1,088,613
Total Investment at Cost	41,037,831
Total investment per Balance Sheet	38,971,925	27,751,783
Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	824,270
Equity securities, at fair value	844,950
Available-for-sale | Fixed maturities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	27,538,066
Fair Value	26,131,780
Trading | Fixed maturities
Schedule of Investments [Line Items]
Fixed maturities, trading, amortized cost	3,476,746
Fixed maturities, trading	2,796,446
U.S. Treasury securities and obligations of U.S. government authorities and agencies
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	1,009,937	354,348
Fair Value	975,287	281,792
U.S. Treasury securities and obligations of U.S. government authorities and agencies | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	975,287
Obligations of U.S. states and their political subdivisions
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	789,856	654,884
Fair Value	776,627	628,200
Obligations of U.S. states and their political subdivisions | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	776,627
Foreign government bonds
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	330,830	330,967
Fair Value	281,986	273,462
Foreign government bonds | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	281,986
Asset-backed securities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	2,016,028	1,467,955
Fair Value	2,027,550	1,442,354
Asset-backed securities | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	2,027,550
Commercial mortgage-backed securities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	913,347	727,159
Fair Value	851,778	658,152
Commercial mortgage-backed securities | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	851,778
Residential mortgage-backed securities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	399,542	342,493
Fair Value	396,070	336,216
Residential mortgage-backed securities | Fixed maturities
Schedule of Investments [Line Items]
Fair Value	396,070
Public utilities | Available-for-sale | Fixed maturities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	2,379,489
Fair Value	2,196,446
All other corporate bonds | Available-for-sale | Fixed maturities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	19,693,932
Fair Value	18,620,862
Redeemable preferred stock | Available-for-sale | Fixed maturities
Schedule of Investments [Line Items]
Fixed maturities, available-for-sale, amortized cost	5,105
Fair Value	5,174
Other common stocks | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	783,571
Equity securities, at fair value	805,715
Mutual funds | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	12,188
Equity securities, at fair value	11,277
Perpetual preferred stocks | Equity securities
Schedule of Investments [Line Items]
Equity securities, at cost	28,511
Equity securities, at fair value	27,958
Total Net Commercial Mortgage and Other Loans
Schedule of Investments [Line Items]
Commercial Mortgage Loans	$ 6,122,721	$ 4,928,680

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Financial Position) (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Assets:
Fixed maturities, available-for-sale	$ 26,131,780	$ 19,025,401
Fixed maturities, trading	2,796,446	1,936,159
Equity securities, at fair value	844,950	143,072
Policy loans	1,472,677	505,367
Short-term Investments	380,366	124,491
Commercial Mortgage Loans	6,122,721	4,928,680
Other invested assets	1,222,985	1,088,613
Total investments	38,971,925	27,751,783
Cash and cash equivalents	2,139,792	2,397,627
Deferred policy acquisition costs	7,097,511	6,930,425	[1]	$ 7,029,308	$ 2,493,082	$ 2,493,082
Accrued investment income	333,838	219,635
Reinsurance recoverables	38,709,651	37,096,562	[1]
Receivables from parent and affiliates	332,583	224,921
Deferred sales inducements	351,424	381,504	[1]
Income taxes assets	1,737,651	1,694,751	[1]
Market risk benefits assets	2,367,243	1,393,237	[1]
Other assets	2,078,938	1,331,427	[1]
Separate account assets	119,188,485	114,051,246
TOTAL ASSETS	213,309,041	193,473,118
Liabilities:
Policyholder Account Balance	53,012,800	41,912,536	[1]	35,730,680
Future policy benefits	23,205,205	20,829,033	[1]	21,510,749
Market risk benefit liabilities	5,144,401	5,521,601	[1]
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	180,411	126,250
Long-term debt to affiliates	0	185,563
Payables to parent and affiliates	2,667,696	2,126,571
Other liabilities	5,170,308	3,597,373	[1]
Separate account liabilities	119,188,485	114,051,246		149,797,828		145,740,422
Total liabilities	208,787,616	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	5,052,602	6,037,914
Retained Earnings (accumulated deficit)	(532,951)	(994,154)	[1]
Accumulated other comprehensive income (loss)	(30,920)	(10,065)	[1]
Total equity	4,521,425	5,036,195
TOTAL LIABILITIES AND EQUITY	213,309,041	193,473,118
Fixed Maturities, Available-for-sale, allowance for credit losses	2,008	4,769
Fixed maturities, available-for-sale, amortized cost	27,538,066	21,311,087
Fixed maturities, trading, amortized cost	3,476,746	2,682,022
Equity securities, at cost	824,270	148,179
Commercial mortgage and other loans, allowance for credit losses	37,689	20,263		$ 5,951		$ 4,552
Other invested assets, at fair value	$ 85,025	$ 116,110
Common stock, par value (in dollars 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
PRUCO Life Insurance Company
Assets:
Fixed maturities, available-for-sale	$ 23,662,832	$ 17,305,913
Fixed maturities, trading	2,773,006	1,912,377
Equity securities, at fair value	840,335	138,714
Policy loans	357,581	293,304
Short-term Investments	374,407	117,491
Commercial Mortgage Loans	5,883,092	4,780,501
Other invested assets	1,073,038	959,085
Total investments	34,964,291	25,507,385
Cash and cash equivalents	1,953,388	2,141,860
Deferred policy acquisition costs	6,704,372	6,578,551
Accrued investment income	279,567	194,413
Reinsurance recoverables	35,163,935	34,033,034
Investment in subsidiaries	1,434,641	1,026,655
Receivables from parent and affiliates	308,635	206,127
Deferred sales inducements	351,424	381,504
Income taxes assets	1,670,376	1,627,136
Market risk benefits assets	1,829,584	834,613
Other assets	2,051,898	1,290,499
Separate account assets	105,111,382	100,124,288
TOTAL ASSETS	191,823,493	173,946,065
Liabilities:
Policyholder Account Balance	48,976,616	39,138,221
Future policy benefits	20,864,146	18,733,638
Market risk benefit liabilities	4,606,742	4,962,977
Cash collateral for loaned securities	218,310	86,750
Short-term debt to affiliates	180,411	126,250
Long-term debt to affiliates	0	185,563
Payables to parent and affiliates	2,658,870	2,119,579
Other liabilities	4,715,785	3,432,604
Separate account liabilities	105,111,382	100,124,288
Total liabilities	187,332,262	168,909,870
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	5,052,602	6,037,914
Retained Earnings (accumulated deficit)	(532,951)	(994,154)
Accumulated other comprehensive income (loss)	(30,920)	(10,065)
Total equity	4,491,231	5,036,195
TOTAL LIABILITIES AND EQUITY	191,823,493	173,946,065
Fixed Maturities, Available-for-sale, allowance for credit losses	2,004	4,406
Fixed maturities, available-for-sale, amortized cost	24,872,031	19,320,369
Fixed maturities, trading, amortized cost	3,451,001	2,654,456
Equity securities, at cost	819,617	143,565
Commercial mortgage and other loans, allowance for credit losses	36,527	19,855
Other invested assets, at fair value	$ 80,638	$ 113,721
Common stock, par value (in dollars 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
[1]Prior period amounts reflect the implementation of Accounting Standard Update ("ASU") 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022		Dec. 31, 2021
REVENUES
Premiums	$ 328,897	$ 265,208	[1]	$ 184,458	[1]
Policy charges and fee income	1,536,606	1,230,601	[1]	1,300,095	[1]
Net investment income	1,675,522	884,001		550,235
Asset administration fees	232,950	284,182		202,177
Other Income (loss)	744,628	(651,469)	[1]	262,420	[1]
Realized investment gains (losses), net	(1,083,660)	336,382	[2]	(386,894)	[1]
Change in value of market risk benefits, net of related hedging gain (losses)	(94,368)	(700,581)	[1]	(4,222,530)	[2]
TOTAL REVENUES	3,340,575	1,648,324		(2,110,039)
BENEFITS AND EXPENSES
Policyholders’ benefits	503,789	458,373	[1]	82,710	[1]
Change in estimates of liability for future policy benefits	3,952	55,099	[1]	27,008	[1]
Interest credited to policyholders’ account balances	655,445	445,215	[1]
Amortization of deferred policy acquisition costs	534,435	520,276	[1]	325,595	[1]
General, administrative and other expense	1,151,452	1,156,464	[1]
TOTAL BENEFITS AND EXPENSES	2,849,073	2,635,427
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE	491,502	(987,103)		(1,870,189)
Income tax expense (benefit)	29,378	(295,535)	[1]	(474,786)	[1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	462,124	(691,568)		(1,395,403)
Equity in earnings of operating joint venture, net of taxes	(433)	(75,137)		702
Net Income (Loss)	461,691	(766,705)	[2]	(1,394,701)	[2]
Net unrealized investment gains (losses)	691,952	(2,254,037)	[1]	(210,486)	[1]
Interest rate remeasurement of future policy benefits	(60,978)	310,353	[1]	37,274	[1]
Gain (loss) from changes in non-performance risk on market risk benefits	(659,875)	1,440,305	[1]	(435,232)	[1]
Total	(26,482)	(512,716)		(612,335)
Less: Income tax expense (benefit) related to other comprehensive income (loss)	(5,627)	(106,197)	[1]	(128,241)	[1]
Total Comprehensive Income (Loss)	440,348	(1,173,224)		(1,878,795)
PRUCO Life Insurance Company
REVENUES
Premiums	289,344	231,500		155,709
Policy charges and fee income	1,476,927	1,172,867		1,227,933
Net investment income	1,507,280	785,609		449,744
Asset administration fees	223,803	275,702		193,302
Other Income (loss)	741,052	(649,316)		261,639
Realized investment gains (losses), net	(1,039,350)	322,547		(387,409)
Change in value of market risk benefits, net of related hedging gain (losses)	(157,160)	(558,535)		(4,262,200)
TOTAL REVENUES	3,041,896	1,580,374		(2,361,282)
BENEFITS AND EXPENSES
Policyholders’ benefits	448,286	430,184		41,931
Change in estimates of liability for future policy benefits	6,067	38,468		24,189
Interest credited to policyholders’ account balances	591,310	397,637		(194,393)
Amortization of deferred policy acquisition costs	513,863	500,986		307,397
General, administrative and other expense	1,100,663	1,099,599		(574,501)
TOTAL BENEFITS AND EXPENSES	2,660,189	2,466,874		(395,377)
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE	381,707	(886,500)		(1,965,905)
Income tax expense (benefit)	16,915	(264,761)		(485,879)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	364,792	(621,739)		(1,480,026)
Equity In Earnings Of Subsidiaries	96,844	(69,829)		84,623
Equity in earnings of operating joint venture, net of taxes	(433)	(75,137)		702
Net Income (Loss)	461,203	(766,705)		(1,394,701)
Net unrealized investment gains (losses)	632,819	(1,877,552)		(143,225)
Interest rate remeasurement of future policy benefits	(50,679)	250,486		23,870
Gain (loss) from changes in non-performance risk on market risk benefits	(597,083)	1,298,259		(395,563)
Other	(11,539)	(183,909)		(97,417)
Total	(26,482)	(512,716)		(612,335)
Less: Income tax expense (benefit) related to other comprehensive income (loss)	(5,627)	(106,197)		(128,241)
Other Comprehensive Income (Loss), Net of Tax	(20,855)	(406,519)		(484,094)
Total Comprehensive Income (Loss)	$ 440,348	$ (1,173,224)		$ (1,878,795)
[1]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.[2]Prior period amounts reflect the implementation of ASU 2018-12: Targeted Improvements to the Accounting for Long-Duration Contracts.

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant (Condensed Statements of Cash Flow) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash flows from (used in) operating activities	$ 2,459,895	$ 1,824,964	$ (883,941)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	1,736,809	1,688,079	1,251,269
Fixed maturities, trading	97,693	907,941	914,662
Equity securities	189,237	242,292	100,151
Policy loans	182,973	169,723	172,932
Ceded Policy Loans Proceeds	(119,787)	(112,164)	(13,387)
Short-term investments	456,983	632,069	221,645
Commercial mortgage and other loans	167,888	196,672	280,103
Other invested assets	19,693	60,349	302,692
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(7,544,596)	(7,009,578)	(2,504,582)
Fixed maturities, trading	(857,717)	(425,267)	(117,247)
Equity securities	(678,847)	(281,684)	(98,122)
Policy loans	(1,162,959)	(144,764)	(122,297)
Ceded policy loans	151,019	71,402	12,161
Short-term investments	(690,173)	(558,161)	(317,593)
Commercial mortgage and other loans	(1,341,450)	(1,076,351)	(565,222)
Other invested assets	(190,826)	(166,345)	(148,842)
Other, net	(4,808)	57,687	(10,392)
Net Cash Provided by (Used in) Investing Activities	(9,639,503)	(6,114,134)	(699,329)
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits	12,101,043	9,996,128	5,690,619
Ceded policyholders’ account deposits	(1,189,331)	(1,216,195)	(1,149,254)
Policyholders’ account withdrawals	(3,695,248)	(3,727,579)	(3,927,948)
Ceded policyholders’ account withdrawals	625,238	638,392	326,680
Contributed / (return of) capital		0	776,657
Other, net	63,816	(59,327)	(3,251)
Cash flows from (used in) financing activities	6,921,773	5,767,866	2,075,222
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(257,835)	1,478,696	491,952
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	2,139,792	2,397,627	918,931	$ 426,979
CASH AND CASH EQUIVALENTS, END OF YEAR	2,139,792	2,397,627	918,931	426,979
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid (refund)	67,203	39,201	391,015
Interest paid	4,533	7,863	6,341
PRUCO Life Insurance Company
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash flows from (used in) operating activities	2,365,722	1,813,780	(1,014,479)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	1,622,501	1,586,432	1,150,169
Fixed maturities, trading	95,872	901,690	914,082
Equity securities	189,210	242,247	100,151
Policy loans	152,275	140,937	144,925
Ceded Policy Loans Proceeds	(117,589)	(110,477)	(11,560)
Short-term investments	444,983	622,072	221,613
Commercial mortgage and other loans	157,116	178,564	258,743
Other invested assets	17,405	57,335	296,278
Payments for the purchase/origination of:
Fixed maturities, available-for-sale	(6,762,400)	(6,674,455)	(2,278,457)
Fixed maturities, trading	(857,717)	(425,267)	(97,523)
Equity securities	(678,790)	(281,502)	(98,122)
Policy loans	(236,886)	(122,982)	(104,528)
Ceded policy loans	147,961	69,369	10,391
Short-term investments	(679,224)	(551,161)	(307,596)
Commercial mortgage and other loans	(1,239,173)	(1,024,697)	(561,310)
Other invested assets	(174,680)	(149,837)	(125,329)
Capital contributions to subsidiaries	(323,909)	(325,000)	(100,000)
Other, net	(56,531)	(316,170)	(68,135)
Net Cash Provided by (Used in) Investing Activities	(8,299,576)	(6,182,902)	(656,208)
CASH FLOWS FROM FINANCING ACTIVITIES:
Policyholders’ account deposits	10,508,549	9,500,054	5,130,649
Ceded policyholders’ account deposits	(870,031)	(902,233)	(817,978)
Policyholders’ account withdrawals	(3,287,164)	(3,343,369)	(3,413,219)
Ceded policyholders’ account withdrawals	360,211	398,101	78,517
Contributed / (return of) capital	(995,000)	0	776,657
Other, net	28,817	75,814	340,224
Cash flows from (used in) financing activities	5,745,382	5,728,367	2,094,850
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(188,472)	1,359,245	424,163
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	1,953,388	2,141,860	782,615	358,452
CASH AND CASH EQUIVALENTS, END OF YEAR	1,953,388	2,141,860	782,615	$ 358,452
SUPPLEMENTAL CASH FLOW INFORMATION
Income taxes paid (refund)	57,749	61,613	384,472
Interest paid	$ 4,377	$ 7,863	$ 6,323