Mony Life Insurance Co Of America 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	333-65423
Entity Registrant Name	EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA
Entity Incorporation, State or Country Code	AZ
Entity Tax Identification Number	86-0222062
Entity Address, Address Line One	8501 IBM Drive
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28262
City Area Code	212
Local Phone Number	554-1234
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,500,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Amendment Flag	false
Entity Central Index Key	0000835357
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $17,801 and $10,050) (allowance for credit losses of $0 and $0 )		$ 17,979	$ 9,891
Mortgage loans on real estate (net of allowance for credit losses of $7 and $2)		1,491	294
Policy loans		293	268
Other equity investments		38	19
Other invested assets		702	351
Total investments		20,503	10,823
Cash and cash equivalents		2,408	1,838
Deferred policy acquisition costs		1,649	1,212
Amounts due from reinsurers (allowance for credit losses of $0 and $0)		916	961
Funds withheld receivable		9,881	10,603
Reinsurance deposit assets		12,088	12,566
Purchased market risk benefits		7	9
Other assets		450	406
Assets for market risk benefits		39	24
Separate Accounts assets		8,327	5,754
Total Assets		56,268	44,196
LIABILITIES
Policyholders’ account balances		34,162	24,963
Liability for market risk benefits		6,595	7,333
Future policy benefits and other policyholders' liabilities		2,130	1,653
Amounts due to reinsurers		107	110
Current and deferred income taxes		233	54
Other liabilities		2,261	2,169
Separate Accounts liabilities		8,327	5,754
Total Liabilities		53,815	42,036
Commitments and contingent liabilities	[1]
EQUITY
Common stock, $1.00 par value; 2,500,000 shares authorized, issued and outstanding		3	3
Additional paid-in capital		1,885	1,882
Retained earnings (accumulated deficit)		978	969
Accumulated other comprehensive income (loss)		(413)	(694)
Total Equity		2,453	2,160
Total Liabilities and Equity		$ 56,268	$ 44,196
[1] See Note 13 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Amortized cost of fixed maturities available-for-sale	$ 17,801	$ 10,050
Allowance for credit losses of fixed maturities available-for-sale	0	0
Valuation allowances for credit losses of mortgage loans on real estate	7	2
Allowance for credit losses of reinsurance recoverable	$ 0	$ 0
Common stock par value (in dollars per share)	$ 1	$ 1
Common stock authorized (in shares)	2,500,000	2,500,000
Common stock issued (in shares)	2,500,000	2,500,000
Common stock outstanding (in shares)	2,500,000	2,500,000

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUES
Policy charges and fee income	$ 436	$ 411	$ 1,274	$ 882
Premiums	154	132	435	333
Net derivative gains (losses)	912	(336)	(134)	(1,029)
Net investment income (loss)	246	99	616	184
Investment gains (losses), net	4	0	1	(5)
Investment management and service fees	135	126	396	253
Other income	34	38	109	82
Total revenues	1,921	470	2,697	700
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	271	261	871	618
Remeasurement of liability for future policy benefits	(14)	23	(24)	21
Change in market risk benefits and purchased market risk benefits	334	(992)	(900)	(1,830)
Interest credited to policyholders’ account balances	338	231	893	439
Compensation and benefits	17	17	52	45
Commissions	133	99	358	219
Amortization of deferred policy acquisition costs	36	20	94	48
Amortization of reinsurance deposit assets	172	93	477	241
Other operating costs and expenses	94	106	283	237
Total benefits and other deductions	1,381	(142)	2,104	38
Income (loss) from continuing operations, before income taxes	540	612	593	662
Income tax (expense) benefit	(107)	(131)	(120)	(68)
Net income (loss)	$ 433	$ 481	$ 473	$ 594

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
COMPREHENSIVE INCOME (LOSS)
Net income (loss)		$ 433	$ 481	$ 473	$ 594
Other comprehensive income (loss), net of income taxes:
Change in unrealized gains (losses), net of adjustments	[1]	382	(154)	269	(130)
Change in market risk benefits - instrument-specific credit risk		(9)	(262)	11	(251)
Change in liability for future policy benefits - current discount rate		(27)	11	1	12
Other comprehensive income (loss), net of income taxes		346	(405)	281	(369)
Comprehensive income (loss)		$ 779	$ 76	$ 754	$ 225
[1] See Note 12 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period at Dec. 31, 2022	$ 231	$ 3	$ 831	$ (222)	$ (381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent	1,050		1,050
Net income (loss)	594			594
Other comprehensive income (loss)	(369)				(369)
Other	1		1
Balance at end of period at Sep. 30, 2023	1,507	3	1,882	372	(750)
Balance at beginning of period at Jun. 30, 2023	1,431	3	1,882	(109)	(345)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	481			481
Other comprehensive income (loss)	(405)				(405)
Other	0
Balance at end of period at Sep. 30, 2023	1,507	3	1,882	372	(750)
Balance at beginning of period at Dec. 31, 2023	2,160	3	1,882	969	(694)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	473			473
Other comprehensive income (loss)	281				281
Dividend to parent	(464)			(464)
Other	3		3
Balance at end of period at Sep. 30, 2024	2,453	3	1,885	978	(413)
Balance at beginning of period at Jun. 30, 2024	2,137	3	1,884	1,009	(759)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	433			433
Other comprehensive income (loss)	346				346
Dividend to parent	(464)			(464)
Other	1		1
Balance at end of period at Sep. 30, 2024	$ 2,453	$ 3	$ 1,885	$ 978	$ (413)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 473	$ 594
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	893	439
Policy charges and fee income	(1,274)	(882)
Net derivative (gains) losses	134	1,029
Investment (gains) losses, net	(1)	5
Realized and unrealized (gains) losses on trading securities	1	1
Non-cash long-term incentive compensation expense	2	2
Amortization and depreciation	447	195
Remeasurement of liability for future policy benefits	(24)	21
Change in market risk benefits	(900)	(1,830)
Changes in:
Reinsurance recoverable	(10)	47
Funds withheld receivable	(212)	(219)
Capitalization of deferred policy acquisition costs	(531)	(367)
Future policy benefits	412	365
Current and deferred income taxes	110	68
Other, net	1,335	984
Net cash provided by (used in) operating activities	855	452
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	1,424	486
Mortgage loans on real estate	13	0
Trading account securities	0	0
Short-term investments	5	0
Other	4	100
Payment for the purchase/origination of:
Fixed maturities, available-for-sale	(8,977)	(6,152)
Mortgage loans on real estate	(1,215)	(52)
Trading account securities	(1)	(1)
Short-term investments	(5)	(2)
Other	(24)	(99)
Cash settlements related to derivative instruments, net	(431)	(553)
Other, net	(19)	(17)
Net cash provided by (used in) investing activities	(9,226)	(6,290)
Policyholders’ account balances:
Deposits	9,668	5,952
Withdrawals	(1,234)	(745)
Transfer (to) from Separate Accounts	141	258
Payments of market risk benefits	(513)	(360)
Change in collateralized pledged assets	5	(27)
Change in collateralized pledged liabilities	1,319	415
Dividend to parent company	(464)	0
Cash contribution from parent company	0	1,050
Changes in securities lending payable	18	27
Other, net	1	0
Net cash provided by (used in) financing activities	8,941	6,570
Change in cash and cash equivalents	570	732
Cash and cash equivalents, beginning of period	1,838	294
Cash and cash equivalents, end of period	$ 2,408	$ 1,026

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Equitable Financial Life Insurance Company of America’s (collectively with its consolidated subsidiary, “Equitable America” or “the Company”) primary business is providing variable annuity, life insurance and employee benefit products to both individuals and businesses. The Company is an indirect, wholly-owned subsidiary of Equitable Holdings, Inc. (“Holdings”). Equitable America is a stock life insurance company organized under the laws of Arizona. Equitable Financial Investment Management America, LLC (“EFIMA”) is a subsidiary of Equitable America and is a wholly-owned indirect subsidiary of Holdings.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023. The terms “third quarter 2024” and “third quarter 2023” refer to the three months ended September 30, 2024 and 2023, respectively. The terms “first nine months of 2024” and “first nine months of 2023” refer to the nine months ended September 30, 2024 and 2023, respectively. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The adoption of ASU 2023-07 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements. Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity is determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, the Company consolidates the entity. Quarterly, management of the Company reviews its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts, and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs As of September 30, 2024 and December 31, 2023, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIEs model. Included in other invested assets and mortgage loans on real estate in the Company’s consolidated balance sheets at September 30, 2024 and December 31, 2023 are total assets of $669 million and $0 million, respectively related to these VIEs. Non-Consolidated VIEs As of September 30, 2024 and December 31, 2023, respectively, the Company held approximately $21 million and $0 million of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including CLOs, hedge funds, private equity funds and real estate-related funds. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as the primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheets as other equity investments and applies the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $95 million and $0 million as of September 30, 2024 and December 31, 2023, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $21 million and $0 million and approximately $260 million and $147 million of unfunded commitments as of September 30, 2024 and December 31, 2023, respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. Assumption Updates and Model Changes The Company conducts its annual review of its assumptions and models during the third quarter of each year. The annual review encompasses assumptions underlying the valuation of MRB, liabilities for future policyholder benefits and additional liability update. However, the Company updates its assumptions as needed in the event it becomes aware of economic conditions or events that could require a change in assumptions that it believes may have a significant impact to the carrying value of product liabilities and assets and consequently materially impact its earnings in the period of the change. Impact of Assumption Updates The net impact of assumption changes in the nine months ended September 30, 2024 decreased remeasurement of liability for future policy benefits by $9 million, decreased policyholders’ benefits by $6 million, increased market risk benefits and purchased market risk benefits by $12 million, and decreased other operating costs and expenses by $17 million. This resulted in an increase in income (loss) from operations, before income taxes of $20 million and an increase to net income (loss) by $16 million. The net impact of assumption changes in the nine months ended September 30, 2023 increased remeasurement of liability for future policy benefits by $1 million, decreased policyholders’ benefits by $1 million, decreased market risk benefits and purchased market risk benefits by $8 million, and decreased other operating costs and expenses by $42 million. This resulted in an increase in income (loss) from operations, before income taxes of $50 million and an increase to net income (loss) by $40 million. Model Changes There were no material model changes in the first nine months of 2024 and 2023. Revision of Previously Issued Financial Statements The Company identified certain errors in its previously issued financial statements primarily related to the initial and ongoing recording for the Reinsurance Treaty and coding errors impacting the inforce used to calculate actuarial reserves. The impact of these errors to prior periods’ financial statements was not considered to be material. In order to improve the consistency and comparability of the financial statements, management revised the financial statements to include the revisions discussed herein. See Note 17 of the Notes to these Financial Statements for details of the revision.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Fixed Maturities AFS The components of fair value and amortized cost for fixed maturities classified as AFS on the consolidated balance sheets excludes accrued interest receivable because the Company elected to present accrued interest receivable within other assets. Accrued interest receivable on AFS fixed maturities as of September 30, 2024 and December 31, 2023 was $139 million and $78 million, respectively. There was no accrued interest written off for AFS fixed maturities for the three and nine months ended September 30, 2024 and 2023. The following tables provide information relating to the Company’s fixed maturities classified as AFS: AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) September 30, 2024: Fixed Maturities: Corporate (1) $ 9,392 $ — $ 285 $ 233 $ 9,444 U.S. Treasury, government and agency 15 — — — 15 States and political subdivisions 49 — — 7 42 Foreign governments 49 — 1 — 50 Residential mortgage-backed 2,207 — 41 4 2,244 Asset-backed (2) 5,519 — 96 2 5,613 Commercial mortgage-backed 570 — 11 10 571 Total at September 30, 2024 $ 17,801 $ — $ 434 $ 256 $ 17,979 December 31, 2023: Fixed Maturities: Corporate (1) $ 5,842 $ — $ 96 $ 276 $ 5,662 U.S. Treasury, government and agency 15 — — — 15 States and political subdivisions 50 — — 7 43 Foreign governments 31 — 1 1 31 Residential mortgage-backed 961 — 15 4 972 Asset-backed (2) 2,956 — 32 2 2,986 Commercial mortgage-backed 195 — 1 14 182 Total at December 31, 2023 $ 10,050 $ — $ 145 $ 304 $ 9,891 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. The contractual maturities of AFS fixed maturities as of September 30, 2024 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or pre-pay obligations with or without call or pre-payment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) September 30, 2024: Contractual maturities: Due in one year or less $ 76 $ 76 Due in years two through five 2,261 2,307 Due in years six through ten 5,680 5,820 Due after ten years 1,488 1,348 Subtotal 9,505 9,551 Residential mortgage-backed 2,207 2,244 Asset-backed 5,519 5,613 Commercial mortgage-backed 570 571 Total at September 30, 2024 $ 17,801 $ 17,979 The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities: Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Proceeds from sales $ 18 $ 183 $ 18 $ 233 Gross gains on sales $ — $ — $ — $ — Gross losses on sales $ — $ — $ — $ (5) The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ — $ — $ — $ — Previously recognized impairments on securities that matured, paid, prepaid or sold — — — — Balance, end of period $ — $ — $ — $ — The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on AFS Fixed Maturities Three Months Ended September 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of period $ (296) $ 9 $ (9) $ (296) Net investment gains (losses) arising during the period 474 — — 474 Reclassification adjustment: Included in net income (loss) — — — — Excluded from net income (loss) — — — — Other — — 10 10 Impact of net unrealized investment gains (losses) — (2) (100) (102) Net unrealized investment gains (losses) excluding credit losses 178 7 (99) 86 Net unrealized investment gains (losses) with credit losses — — — — Balance, end of period $ 178 $ 7 $ (99) $ 86 Three Months Ended September 30, 2023 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (376) $ 7 $ 13 $ (356) Net investment gains (losses) arising during the period (200) — — (200) Reclassification adjustment: Included in net income (loss) — — — — Excluded from net income (loss) — — — — Impact of net unrealized investment gains (losses) — 5 40 45 Net unrealized investment gains (losses) excluding credit losses (576) 12 53 (511) Net unrealized investment gains (losses) with credit losses — — — — Balance, end of period $ (576) $ 12 $ 53 $ (511) Nine Months Ended September 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (159) $ 8 $ (33) $ (184) Net investment gains (losses) arising during the period 337 — — 337 Reclassification adjustment: Included in net income (loss) — — — — Other — — 5 5 Impact of net unrealized investment gains (losses) — (1) (71) (72) Net unrealized investment gains (losses) excluding credit losses 178 7 (99) 86 Balance, end of period $ 178 $ 7 $ (99) $ 86 Nine Months Ended September 30, 2023 Balance, beginning of period $ (388) $ 8 $ (1) $ (381) Net investment gains (losses) arising during the period (193) — — (193) Reclassification adjustment: Included in net income (loss) 5 — — 5 Other — — 16 16 Impact of net unrealized investment gains (losses) — 4 38 42 Net unrealized investment gains (losses) excluding credit losses (576) 12 53 (511) Balance, end of period $ (576) $ 12 $ 53 $ (511) _____________ (1) Certain balances were revised from previously filed financial statements. The following tables disclose the fair values and gross unrealized losses of the 771 issues as of September 30, 2024 and the 891 issues as of December 31, 2023 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) September 30, 2024: Fixed Maturities: Corporate $ 427 $ 2 $ 1,747 $ 231 $ 2,174 $ 233 States and political subdivisions — — 33 7 33 7 Foreign governments — — 11 — 11 — Residential mortgage-backed 201 1 10 3 211 4 Asset-backed 119 — 7 2 126 2 Commercial mortgage-backed 81 — 63 10 144 10 Total at September 30, 2024 $ 828 $ 3 $ 1,871 $ 253 $ 2,699 $ 256 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2023: Fixed Maturities: Corporate $ 505 $ 7 $ 1,900 $ 269 $ 2,405 $ 276 U.S. Treasury, government and agency — — 8 — 8 — States and political subdivisions — — 33 7 33 7 Foreign governments 7 1 4 — 11 1 Residential mortgage-backed 103 — 9 4 112 4 Asset-backed 290 1 23 1 313 2 Commercial mortgage-backed 29 — 61 14 90 14 Total at December 31, 2023 $ 934 $ 9 $ 2,038 $ 295 $ 2,972 $ 304 The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 1.1% of total corporate securities. The largest exposures to a single issuer of corporate securities held as of September 30, 2024 and December 31, 2023 were $103 million and $82 million, respectively, representing 4.2% and 3.8% of the consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). As of September 30, 2024 and December 31, 2023, respectively, approximately $67 million and $92 million, or 0.4% and 0.9%, of the $17.8 billion and $10.1 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $0 million and $0 million as of September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024 and December 31, 2023, respectively, the $253 million and $295 million of gross unrealized losses of twelve months or more were concentrated in corporate securities. In accordance with the policy described in Note 2 of the Notes to these Consolidated Financial Statements, the Company concluded that an allowance for credit losses for these securities was not warranted at either September 30, 2024 or December 31, 2023. As of September 30, 2024 and December 31, 2023, the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. Based on the Company’s evaluation both qualitatively and quantitatively of the drivers of the decline in fair value of fixed maturity securities as of September 30, 2024, the Company determined that the unrealized loss was primarily due to increases in interest rates and credit spreads. Securities Lending Beginning in 2023, the Company entered into securities lending agreements with an agent bank whereby blocks of securities are loaned to third parties, primarily major brokerage firms. As of September 30, 2024 and December 31, 2023, the estimated fair value of loaned securities was $17 million and $23 million. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as cash collateral, calculated daily. To further minimize the credit risks related to these programs, the financial condition of counterparties is monitored on a regular basis. As of September 30, 2024 and December 31, 2023, cash collateral received in the amount of $18 million and $23 million was invested by the agent bank. A securities lending payable for the overnight and continuous loans is included in other liabilities in the amount of cash collateral received. Securities lending transactions are used to generate income. Income and expenses associated with these transactions are reported as net investment income and were not material for the September 30, 2024 and December 31, 2023. Mortgage Loans on Real Estate In 2024, the Company began investing in residential mortgage loans. Accrued interest receivable on commercial and residential mortgage loans was $8 million and $1 million as of September 30, 2024 and December 31, 2023 and no accrued interest was written off for the three and nine months ended September 30, 2024 and 2023. As of September 30, 2024 and December 31, 2023, the Company had no loans for which foreclosure was probable included within the individually assessed mortgage loans, and accordingly had no associated allowance for credit losses. Allowance for Credit Losses on Mortgage Loans The change in the allowance for credit losses for commercial and residential mortgage loans were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 4 $ — $ 2 $ — Current-period provision for expected credit losses 1 — 3 — Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 1 — 3 — Balance, end of period $ 5 $ — $ 5 $ — Residential mortgages: Balance, beginning of period $ 1 $ — $ — $ — Current-period provision for expected credit losses 1 — 2 — Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 1 — 2 — Balance, end of period $ 2 $ — $ 2 $ — Total allowance for credit losses $ 7 $ — $ 7 $ — The change in the allowance for credit losses is attributable to: • increases/decreases in the loan balance due to new originations, maturing mortgages, and loan amortization and • changes in credit quality and economic assumptions. Credit Quality Information The Company’s commercial mortgage loans segregated by risk rating exposure were as follows: Loan to Value (“LTV”) Ratios (1) (3) September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ — $ — $ 17 $ — $ — $ 17 50% - 70% 516 301 — — — — — — 817 70% - 90% — — — — — — — — — 90% plus — — — — — — — — — Total commercial loans $ 516 $ 301 $ — $ — $ — $ 17 $ — $ — $ 834 Debt Service Coverage (“DSC”) Ratios (2) (3) September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Commercial: Greater than 2.0x $ 23 $ — $ — $ — $ — $ 17 $ — $ — $ 40 1.8x to 2.0x 103 — — — — — — — 103 1.5x to 1.8x 87 — — — — — — — 87 1.2x to 1.5x 303 221 — — — — — — 524 1.0x to 1.2x — 80 — — — — — — 80 Less than 1.0x — — — — — — — — — Total commercial loans $ 516 $ 301 $ — $ — $ — $ 17 $ — $ — $ 834 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. LTV Ratios (1) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: 0% - 50% $ 58 $ — $ — $ — $ — $ 17 $ — $ — $ 75 50% - 70% 221 — — — — — — — 221 70% - 90% — — — — — — — — — 90% plus — — — — — — — — — Total commercial loans $ 279 $ — $ — $ — $ — $ 17 $ — $ — $ 296 DSC Ratios (2) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Greater than 2.0x $ — $ — $ — $ — $ — $ 17 $ — $ — $ 17 1.8x to 2.0x — — — — — — — — — 1.5x to 1.8x — — — — — — — — — 1.2x to 1.5x 221 — — — — — — — 221 1.0x to 1.2x 58 — — — — — — — 58 Less than 1.0x — — — — — — — — — Total commercial loans $ 279 $ — $ — $ — $ — $ 17 $ — $ — $ 296 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Total (in millions) Performance indicators: (1) Performing $ 328 $ 197 $ 73 $ 64 $ 2 $ — $ 664 Nonperforming — — — — — — — Total $ 328 $ 197 $ 73 $ 64 $ 2 $ — $ 664 _____________ (1) The Company began investing in residential mortgages in 2024. Therefore, 2023 comparative information is not applicable. Past-Due and Nonaccrual Mortgage Loan Status The aging analysis of past-due mortgage loans were as follows: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Total (in millions) September 30, 2024: Mortgage loans: Commercial $ — $ — $ — $ — $ 834 $ 834 $ — $ 834 $ — $ — Residential — — — — 664 664 — 664 — — Total $ — $ — $ — $ — $ 1,498 $ 1,498 $ — $ 1,498 $ — $ — December 31, 2023: Mortgage loans: Commercial $ — $ — $ — $ — $ 296 $ 296 $ — $ 296 $ — $ — Residential — — — — — — — — — — Total $ — $ — $ — $ — $ 296 $ 296 $ — $ 296 $ — $ — ________________ (1) Amounts presented at amortized cost basis. As of September 30, 2024 and December 31, 2023, the amortized cost of problem mortgage loans that had been classified as non-accrual loans were $0 million and $0 million, respectively. Equity Securities The breakdown of unrealized and realized gains and (losses) on equity securities was as follows: Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ — $ 1 $ (1) Unrealized and realized gains (losses) on equity securities $ — $ — $ 1 $ (1) Trading Securities As of September 30, 2024 and December 31, 2023, respectively, the fair value of the Company’s trading securities was $0 million and $0 million. As of September 30, 2024 and December 31, 2023, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $1 million and $1 million. The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ (1) $ (1) $ (1) Unrealized and realized gains (losses) on trading securities — (1) (1) (1) Net investment income (loss) from trading securities $ — $ (1) $ (1) $ (1) Net Investment Income The following tables provide the components of net investment income by investment type: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ 230 $ 90 $ 555 $ 167 Mortgage loans on real estate 16 — 33 — Policy loans 1 1 4 3 Other equity investments — — 1 — Trading securities — (1) (1) (1) Other investment income 5 10 38 19 Gross investment income (loss) 252 100 630 188 Investment expenses (6) (1) (14) (4) Net investment income (loss) $ 246 $ 99 $ 616 $ 184 Investment Gains (Losses), Net Investment gains (losses), net, including changes in the valuation allowances and credit losses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ — $ — $ — $ (5) Mortgage loans on real estate (2) — (5) — Other 6 — 6 — Investment gains (losses), net $ 4 $ — $ 1 $ (5)

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. The Company does not designate any derivatives as hedge accounting. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts can be used in these hedging programs, including exchange traded equity and interest rate futures contracts as well as equity options. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features which are accounted for as market risk benefits. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB feature and are accounted for as market risk benefits is that under-performance of the financial markets could result in the GMxB features benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual experience compared to expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the SCS variable annuity, SIO in the EQUI-VEST variable annuity series, MSO in the variable life insurance products and IUL insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments: The following table presents the gross notional amount and fair value of the Company’s derivatives: Derivative Instruments by Category September 30, 2024 December 31, 2023 Fair Value Fair Value Notional Derivative Assets Derivative Net Derivatives Notional Derivative Assets Derivative Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 286 $ — $ 8 $ (8) $ — $ — $ — $ — Interest swaps — — — — — — — — Total: designated for hedge accounting 286 — 8 (8) — — — — Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 4,263 — — — 2,277 — — — Options 11,617 3,421 898 2,523 4,930 1,370 402 968 Interest rate contracts: Futures 1,567 — — — 522 — — — Other contracts: Margin — 269 — 269 — 133 — 133 Collateral — — 2,470 (2,470) — — 956 (956) Total: 17,447 3,690 3,368 322 7,729 1,503 1,358 145 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — 13,198 (13,198) — — 8,804 (8,804) Funds withheld receivable (3) — 361 — 361 — 100 — 100 Modco receivable (2) — — (1,012) 1,012 — — (411) 411 Total embedded derivatives — 361 12,186 (11,825) — 100 8,393 (8,293) Total derivative instruments $ 17,733 $ 4,051 $ 15,562 $ (11,511) $ 7,729 $ 1,603 $ 9,751 $ (8,148) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. (3) Reported in funds withheld receivable in the consolidated balance sheets. The following table presents the effects of derivative instruments on the consolidated statements of income (loss) and comprehensive income (loss): Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Net Derivatives Gain (Losses) (1) AOCI Net Derivatives Gain (Losses) (1) AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps (8) (1) (8) (1) Interest swaps — — — — Total: designated for hedge accounting (8) (1) (8) (1) Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Net Derivatives Gain (Losses) (1) AOCI Net Derivatives Gain (Losses) (1) AOCI (in millions) Derivatives: not designated for hedge accounting Equity contracts: Futures $ 172 $ — $ 396 $ — Options 230 — 863 — Interest rate contracts: Futures 47 — 6 — Total: 449 — 1,265 — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features (1,258) — (4,836) — Funds withheld receivable (131) — (1,237) — Modco receivable 1,860 — 4,682 — Total Embedded Derivatives 471 — (1,391) — Total Derivatives instruments (1) $ 912 $ (1) $ (134) $ (1) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Net AOCI Net AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps — — — — Interest swaps — — — — Total: designated for hedge accounting Derivatives: not designated for hedge accounting Equity contracts: Futures $ (75) $ — $ 23 $ — Options (70) — 41 — Interest rate contracts: Futures (47) — (51) — Total: (192) — 13 — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features 903 — (1,326) — Funds withheld receivable 52 — (546) — Modco receivable (1,099) — 830 — Total Embedded Derivatives (144) — (1,042) — Total Derivatives instruments (1) $ (336) $ — $ (1,029) $ — ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). The following table presents a roll-forward of cash flow hedges recognized in AOCI: Roll-forward of Cash flow hedges in AOCI Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ — $ — $ — $ — Amount recorded in AOCI Currency swaps (1) — (1) — Interest swaps — — — — Total amount recorded in AOCI (1) — (1) — Amount reclassified (to) from income to AOCI Currency swaps — — — — Interest swaps — — — — Total amount reclassified (to) from income to AOCI — — — — Balance, end of period (1) $ (1) $ — $ (1) $ — ______________ (1) The Company does not estimate the amount of the deferred losses in AOCI at three and nine months ended September 30, 2024 which will be released and reclassified into net income (loss) over the next 12 months as the amounts cannot be reasonably estimated. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based futures contracts as of September 30, 2024 and December 31, 2023 are exchange-traded and net settled daily in cash. As of September 30, 2024 and December 31, 2023, respectively, the Company had open exchange-traded futures positions on: (i) the S&P 500, Nasdaq, Russell 2000 and Emerging Market indices, having initial margin requirements of $217 million and $113 million and (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $51 million and $20 million. Collateral Arrangements The Company generally has executed a CSA under the ISDA Master Agreement it maintains with each of its OTC derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. As of September 30, 2024 and December 31, 2023, respectively, the Company held $2.5 billion and $956 million in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in other invested assets. The Company posted collateral of $0 million and $0 million as of September 30, 2024 and December 31, 2023, respectively, in the normal operation of its collateral arrangements. The Company is exposed to losses in the event of non-performance by counterparties to financial derivative transactions with a positive fair value. The Company manages credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreements, as applicable; (ii) trading through central clearing and OTC parties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review. Substantially all of the Company’s derivative agreements have zero thresholds which require daily full collateralization by the party in a liability position. In addition, certain of the Company’s derivative agreements contain credit-risk related contingent features; if the credit rating of one of the parties to the derivative agreement is to fall below a certain level, the party with positive fair value could request termination at the then fair value or demand immediate full collateralization from the party whose credit rating fell and is in a net liability position. As of September 30, 2024 and December 31, 2023, there were no net liability derivative positions with counterparties with credit risk-related contingent features whose credit rating has fallen. All derivatives have been appropriately collateralized by the Company or the counterparty in accordance with the terms of the derivative agreements. The following tables present information about the Company’s offsetting of financial assets and liabilities and derivative instruments: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of September 30, 2024 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 3,690 $ 3,004 $ 686 $ (373) $ 313 Secured lending 18 — 18 — 18 Other financial assets (2) — (2) — (2) Other invested assets $ 3,706 $ 3,004 $ 702 $ (373) $ 329 Liabilities: Derivative liabilities $ 3,004 $ 3,004 $ — $ — $ — Secured lending 18 — 18 — 18 Other financial liabilities 2,243 — 2,243 — 2,243 Other liabilities $ 5,265 $ 3,004 $ 2,261 $ — $ 2,261 ______________ (1) Financial instruments sent (held). As of December 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 1,503 $ 1,177 $ 326 $ (178) $ 148 Secured lending 6 — 6 — 6 Other financial assets 19 — 19 — 19 Other invested assets $ 1,528 $ 1,177 $ 351 $ (178) $ 173 Liabilities: Derivative liabilities $ 1,180 $ 1,177 $ 3 $ — $ 3 Secured lending 6 — 6 — 6 Other financial liabilities 2,160 — 2,160 — 2,160 Other liabilities $ 3,346 $ 1,177 $ 2,169 $ — $ 2,169 ______________ (1) Financial instruments sent (held).

DAC AND OTHER DEFERRED ASSETS_L

DAC AND OTHER DEFERRED ASSETS/LIABILITIES	9 Months Ended
	Sep. 30, 2024
Contract Holder Bonus Interest Credits [Abstract]
DAC AND OTHER DEFERRED ASSETS/LIABILITIES	DAC AND OTHER DEFERRED ASSETS/LIABILITIES The following table presents a reconciliation of DAC to the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) VUL $ 489 $ 457 IUL 287 293 GMxB Core 194 119 Investment Edge 57 22 SCS 558 289 Other 64 32 Total $ 1,649 $ 1,212 Annually, or as circumstances warrant, we review the associated decrements assumptions (i.e. mortality and lapse) based on our multi-year average of companies experience with actuarial judgements to reflect other observable industry trends. In addition to DAC, the Unearned Revenue Liability and Sales Inducement Asset (“SIA”) use similar techniques and quarterly update processes for balance amortization. Changes in the DAC asset were as follows: Nine Months Ended September 30, 2024 VUL (1) IUL (2) GMxB Core IE (3) SCS Total (in millions) Balance, beginning of period $ 457 $ 293 $ 119 $ 22 $ 289 $ 1,180 Capitalization 52 8 85 37 315 497 Amortization (4) (20) (14) (10) (2) (46) (92) Balance, end of period $ 489 $ 287 $ 194 $ 57 $ 558 $ 1,585 ______________ (1) “VUL” defined as Variable Universal Life. (2) “IUL” defined as Indexed Universal Life. (3) “IE” defined as Investment Edge. (4) DAC amortization of $2 million related to Other not reflected in table above. Nine Months Ended September 30, 2023 VUL IUL GMxB Core IE SCS Total (in millions) Balance, beginning of period $ 410 $ 296 $ 40 $ 1 $ 13 $ 760 Capitalization 51 11 61 16 207 346 Amortization (1) (17) (13) (4) (1) (12) (47) Balance, end of period $ 444 $ 294 $ 97 $ 16 $ 208 $ 1,059 ______________ (1) DAC amortization of $1 million related to Other not reflected in table above. Changes in the unearned revenue liability were as follows: Nine Months Ended September 30, 2024 2023 VUL IUL VUL IUL (in millions) Balance, beginning of period $ 203 $ 210 $ 159 $ 157 Capitalization 47 42 41 49 Amortization (10) (11) (8) (8) Balance, end of period $ 240 $ 241 $ 192 $ 198

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued are also considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. As of September 30, 2024 and December 31, 2023, no assets or liabilities were required to be measured at fair value on a non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of September 30, 2024 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 9,266 $ 178 $ 9,444 U.S. Treasury, government and agency — 15 — 15 States and political subdivisions — 42 — 42 Foreign governments — 50 — 50 Residential mortgage-backed — 2,244 — 2,244 Asset-backed (2) — 5,599 14 5,613 Commercial mortgage-backed — 570 1 571 Total fixed maturities, AFS — 17,786 193 17,979 Other equity investments — 17 — 17 Other invested assets: Swaps — (8) — (8) Options — 2,523 — 2,523 Total other invested assets — 2,515 — 2,515 Cash equivalents 2,227 — — 2,227 Funds withheld receivable (3) (5) — — 361 361 Purchased market risk benefits — — 7 7 Assets for market risk benefits — — 39 39 Separate Accounts assets (4) 8,319 7 — 8,326 Total Assets $ 10,546 $ 20,325 $ 600 $ 31,471 Liabilities: Policyholders’ account balances: SCS, MSO and IUL indexed features’ liability — 13,198 — 13,198 Modco receivable (5) — — (1,012) (1,012) Liabilities for market risk benefits — — 6,595 6,595 Total Liabilities $ — $ 13,198 $ 5,583 $ 18,781 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (3) As discussed in Note 2, the funds withheld receivable was created through a funds withheld and modified coinsurance agreement where the investments supporting the reinsurance agreement are withheld by and continue to reside on Equitable Financial’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Equitable Financial, which are primarily available for sale securities. (4) Separate Accounts assets included in the fair value hierarchy exclude investments not fair valued including other assets of $1 million. (5) The embedded derivative is partially reflected in funds withheld receivable and policyholders’ account balance. The portion within Policyholders’ account balances relates to the non-insulated products assumed on a modified coinsurance basis and is reflected net of assumed liabilities on the balance sheet. Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 5,575 $ 87 $ 5,662 U.S. Treasury, government and agency — 15 — 15 States and political subdivisions — 43 — 43 Foreign governments — 31 — 31 Residential mortgage-backed — 972 — 972 Asset-backed (2) — 2,962 24 2,986 Commercial mortgage-backed — 181 1 182 Total fixed maturities, AFS — 9,779 112 9,891 Other equity investments — 19 — 19 Other invested assets: Options — 968 — 968 Total other invested assets — 968 — 968 Cash equivalents 1,654 — — 1,654 Funds withheld receivable (3) (5) — — 100 100 Purchased market risk benefits — — 9 9 Assets for market risk benefits — — 24 24 Separate Accounts assets (4) 5,747 7 — 5,754 Total Assets $ 7,401 $ 10,773 $ 245 $ 18,419 Liabilities: Policyholders’ account balances: SCS, SIO, MSO and IUL indexed features’ liability — 8,804 — 8,804 Modco receivable (5) — — (411) (411) Liabilities for market risk benefits — — 7,333 7,333 Total Liabilities $ — $ 8,804 $ 6,922 $ 15,726 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (3) The funds withheld receivable was created through a funds withheld and modified coinsurance agreement where the investments supporting the reinsurance agreement are withheld by and continue to reside on Equitable Financial’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Equitable Financial, which are primarily available for sale securities. (4) Separate Accounts assets included in the fair value hierarchy exclude investments not fair valued including other assets of $1 million. (5) The embedded derivative is partially reflected in funds withheld receivable and policyholders’ account balance. The portion within Policyholders’ account balances relates to the non-insulated products assumed on a modified coinsurance basis and is reflected net of assumed liabilities on the balance sheet. Public Fixed Maturities The fair values of the Company’s public fixed maturities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Private Fixed Maturities The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. Freestanding Derivative Positions The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 of the Notes to these Consolidated Financial Statements are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Funds Withheld Receivable Reinsurance agreements written on a funds withheld or modified coinsurance basis contain embedded derivatives. This embedded derivative is valued as a total return swap with reference to the fair value of the invested assets held by Equitable Financial. Accordingly, the unobservable inputs utilized in the valuation of the embedded derivative are a component of the invested assets supporting the reinsurance agreements that are held on Equitable Financial’s consolidated balance sheet. Level Classifications of the Company’s Financial Instruments Financial Instruments Classified as Level 1 Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Financial Instruments Classified as Level 2 Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as pre-payment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as IUL and the MSO fund available in some life contracts offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are accounted for as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. Financial Instruments Classified as Level 3 The Company’s investments classified as Level 3 primarily include corporate debt securities, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. The Company also issues certain benefits on its variable annuity products that are accounted for as market risk benefits carried at fair value and are also considered Level 3 for fair value leveling. The GMIBNLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The optional GMIB feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates. The GMWB feature allows the policyholder to withdraw at a minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. The GMDB feature guarantees that the benefit paid upon death will not be less than a guaranteed benefit base. If the contract’s account value is less than the benefit base at the time a death claim is paid, the amount payable will be equal to the benefit base. The market risk benefits fair value will be equal to the present value of benefits less the present value of ascribed fees. Considerable judgment is utilized by management in determining the assumptions used in determining present value of benefits and ascribed fees related to lapse rates, withdrawal rates, utilization rates, non-performance risk, volatility rates, annuitization rates and mortality (collectively, the significant MRB assumptions). Purchased MRB assets, which are accounted for as market risk benefits carried at fair value are also considered Level 3 for fair value leveling. The purchased MRB asset fair value reflects the present value of reinsurance premiums, net of recoveries, adjusted for risk margins and nonperformance risk over a range of market consistent economic scenarios while the MRB asset and liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to the MRB asset and liability over a range of market-consistent economic scenarios. The valuations of the purchased MRB assets incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Accounts funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its purchased MRB asset after taking into account the effects of collateral arrangements. Incremental adjustment to the risk free curve for counterparty non-performance risk is made to the fair values of the purchased MRB assets. Risk margins were applied to the non-capital markets inputs to the purchased MRB valuations. The Company also issues certain benefits on its variable annuity products that are accounted for as market risk benefits carried at fair value and are also considered Level 3. See Note 8 of the Notes to these Consolidated Financial Statements for further description of our market risk benefits fair value. The funds withheld embedded derivative receivable is determined based upon a total return swap technique referencing the fair value of the investments held under the reinsurance contract as collateral and requires certain unobservable inputs. The funds withheld embedded derivative are considered Level 3 in the fair value hierarchy. Transfers of Financial Instruments Between Levels 2 and 3 During the nine months ended September 30, 2024, there were $0 million AFS fixed maturities transferred out of Level 3 and into Level 2 and no AFS fixed maturities transferred out of Level 2 and into Level 3. These transfers in the aggregate represent approximately 0.0% of total consolidated equity as of September 30, 2024. During the nine months ended September 30, 2023, there were $10 million AFS fixed maturities transferred out of Level 3 and into Level 2 and no AFS fixed maturities transferred out of Level 2 and into Level 3. These transfers in the aggregate represent approximately 0.7% of total consolidated equity as of September 30, 2023. The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses). Not included below are the changes in balances related to market risk benefits and purchased market risk benefits level 3 assets and liabilities, which are included in Note 8 of the Notes to these Consolidated Financial Statements. Level 3 Instruments - Fair Value Measurements Three Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 197 $ 30 $ 1 $ (87) $ (183) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 1 — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) 1 — — — — Three Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Other comprehensive income (loss) 3 — — — — Purchases 168 (15) — — — Sales (191) (1) — — — Change in fair value of funds withheld assets — — — 448 (829) Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 178 $ 14 $ 1 $ 361 $ (1,012) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ — $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Three Months Ended September 30, 2023 Corporate RMBS CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 61 $ — $ — $ (136) $ 166 Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) — — — — — Other comprehensive income (loss) (1) (1) — — — Purchases 42 40 11 — — Sales (8) — — — — Change in fair value of funds withheld assets — — — (431) 657 Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 94 $ 39 $ 11 $ (567) $ 823 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ (1) $ (1) $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Level 3 Instruments - Fair Value Measurements Nine Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 87 $ 24 $ 1 $ 100 $ (411) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 1 — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) 1 — — — — Other comprehensive income (loss) 4 — — — — Purchases 317 14 — — — Sales (231) (24) — — — Change in fair value of funds withheld assets — — — 261 (601) Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 178 $ 14 $ 1 $ 361 $ (1,012) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ 3 $ — $ — $ — $ — _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Nine Months Ended September 30, 2023 Corporate RMBS CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 18 $ — $ — $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) — — — — — Other comprehensive income (loss) (1) (1) — — — Purchases 95 40 11 — — Sales (8) — — — — Change in fair value of funds withheld assets — — — (567) 823 Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) (10) — — — — Balance, end of period $ 94 $ 39 $ 11 $ (567) $ 823 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ (1) $ (1) $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Quantitative and Qualitative Information about Level 3 Fair Value Measurements The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities: Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2024 Fair Valuation Technique Significant Range Weighted Average (Dollars in millions) Assets:(5) Investments: Fixed maturities, AFS: Corporate $ 72 Matrix pricing model Spread over benchmark 20 bps - 120 bps 84 bps — Market comparable companies EBITDA multiples Discount Rate Cashflow Multiples Loan to Value 0.0x - 0.0x 0.0% - —% 0.0x - 0.0x 0.0% - —% 0.0x 0.0% 0.0x 0.00% Other equity investments — Discounted Cash Flow Earnings Multiple 0.0x - 0.0x 0.0x Purchased MRB asset (1) (2) (4) 7 Discounted cash flow Lapse rates Withdrawal rates Annuitization rates Non-performance risk (bps) Mortality: Ages 0-40 Ages 41-60 Ages 61-115 N/A N/A Liabilities: Direct MRB (1) (2) (3) (4) $ 6,556 Discounted cash flow Non-performance risk (bps) Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 20 bps - 110 bps 0.24% - 36.18% 0.00% - 11.65% 0.04% - 100.00% 0.01% - 0.17% 0.06% - 0.52% 0.32% - 41.20% 20 bps 3.59% 0.77% 4.79% 2.95% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. GMIB utilization rates were developed as a function of the GMIB benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $6.6 billion of MRB liabilities and $39 million of MRB asset. (4) Includes Core products. (5) Funds withheld and modco receivable that contain embedded derivatives held at fair value are excluded from the tables above. The funds withheld receivable embedded derivative utilizes a total return swap technique which incorporates the fair value of the invested assets supporting the reinsurance agreement as a component of the valuation. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2023 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 39 Matrix pricing model Spread over benchmark 95 bps - 120 bps 118 bps Purchased MRB asset (1) (2) (4) 9 Discounted cash flow Lapse rates Withdrawal rates Annuitization Non-performance risk (bps) Mortality: Ages 0-40 Ages 41-60 Ages 61-115 N/A N/A Liabilities: Direct MRB (1) (2) (3) (4) $ 7,309 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 23 bps - 118 bps 0.21% - 29.37% 0.00% - 14.97% 0.04% - 100.00% 0.01% - 0.18% 0.07% - 0.53% 0.33% - 42.00% 23 bps 3.99% 0.67% 3.04% 2.62% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. GMIB utilization rates were developed as a function of the GMIB benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $7.3 billion of MRB liabilities and $24 million of MRB assets. (4) Includes Core products. Level 3 Financial Instruments for which Quantitative Inputs are Not Available Certain Privately Placed Debt Securities with Limited Trading Activity Excluded from the tables above as of September 30, 2024 and December 31, 2023, respectively, are approximately $121 million and $73 million of Level 3 fair value measurements of investments for which the underlying quantitative inputs are not developed by the Company and are not readily available. These investments primarily consist of certain privately placed debt securities with limited trading activity, and their fair values generally reflect unadjusted prices obtained from independent valuation service providers and indicative, non-binding quotes obtained from third-party broker-dealers recognized as market participants. Significant increases or decreases in the fair value amounts received from these pricing sources may result in the Company reporting significantly higher or lower fair value measurements for these Level 3 investments. • The fair value of private placement securities is determined by application of a matrix pricing model or a market comparable company value technique. The significant unobservable input to the matrix pricing model valuation technique is the spread over the industry-specific benchmark yield curve. Generally, an increase or decrease in spreads would lead to directionally inverse movement in the fair value measurements of these securities. The significant unobservable input to the market comparable company va

LIABILITIES FOR FUTURE POLICYHO

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS The following tables reconcile the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Reconciliation Payout $ 736 $ 368 UL (1) 360 344 Other (2) 339 337 Subtotal 1,435 1,049 Other policy funds (3) 695 604 Grand total $ 2,130 $ 1,653 ______________ (1) Represents the SOP NLG Rider on UL contracts assumed from Equitable Financial. (2) Primarily future policy benefits related to Protective Life & Annuity and Employee Benefits. (3) Includes $485 million of URL of which $481 million is covered in Note 5 of the Notes to these Consolidated Financial Statements. The following tables summarize balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts. The payout annuities result from annuitization of current contracts. Inflows are the liquidation of the account values not premiums: Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 368 $ — Beginning balance of original discount rate 361 — Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience — — Adjusted beginning of period balance 361 — Issuances 368 251 Interest accrual 13 — Benefits payments (27) — Ending balance at original discount rate 715 251 Effect of changes in discount rate assumptions 21 (11) Balance, end of period $ 736 $ 240 Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Net liability for future policy benefits $ 736 $ 241 Less: Reinsurance recoverable — — Net liability for future policy benefits, after reinsurance recoverable $ 736 $ 241 Weighted-average duration of liability for future policyholder benefits (years) 7.5 7.5 The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: September 30, 2024 December 31, 2023 (in millions) Payout Expected future benefit payments and expenses (undiscounted) $ 1,073 $ 541 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 730 364 Expected future gross premiums (discounted) — — The following table provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities : Nine Months Ended September 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Payout (1) $ 119 $ 81 $ 23 $ 3 Total $ 119 $ 81 $ 23 $ 3 ______________ (1) Gross premium reflected is the liquidation of Account Value at time of annuitization. The following table provides the weighted average interest rates for the liability for future policy benefits: September 30, 2024 December 31, 2023 Weighted Average Interest Rate Payout Interest accretion rate 5.1 % 5.3 % Current discount rate 4.7 % 5.0 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Nine Months Ended September 30, 2024 2023 UL (in millions) Balance, beginning of period $ 344 $ — Beginning balance before AOCI adjustments 344 — Effect of changes in interest rate and cash flow assumptions and model changes 2 6 Effect of actual variances from expected experience (3) 3 Adjusted beginning of period balance 343 9 Issuances — 322 Interest accrual 11 4 Net assessments collected 15 1 Benefit payments (9) (2) Ending balance before shadow reserve adjustments 360 333 Effect of shadow reserve adjustment — — Balance, end of period $ 360 $ 333 Net liability for additional liability $ 360 $ 333 Effect of reserve adjustment recorded in AOCI — — Net liability for additional liability, after reinsurance recoverable $ 360 $ 333 Weighted-average duration of additional liability - death benefit (years) 16.9 17.2 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Assessments Interest Accretion Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 419 $ 11 $ 395 $ 7 Total $ 419 $ 11 $ 395 $ 7 Nine Months Ended September 30, 2024 2023 Universal Life Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % Prescribed and Permitted Accounting Practices As of September 30, 2024, the following two prescribed and permitted practices resulted in surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. During 2022, Equitable Life Financial Insurance Company of America received approval from the Arizona Department of Insurance and Financial Institutions pursuant to A.R.S. 20-515 for Separate Account No. 68A (“SA 68A”) for our Structured Capital Strategies product, Separate Account No. 69A (“SA 69A”) for our EQUI-VEST product Structured Investment Option and Separate Account No. 71A (“SA 71A”) for our Investment Edge Structured Investment Option, to permit us to use book value as the accounting basis of these three non-insulated Separate Accounts instead of fair value in accordance with the NAIC Accounting and Practices and Procedures Manual to align with how we manage and measure our overall general account asset portfolio. The impact of the application is a decrease of approximately $158 million in statutory surplus as of September 30, 2024. The Arizona Department of Insurance and Financial Institutions granted to Equitable America a permitted practice to deviate from SSAP No. 108 by applying special accounting treatment for specific derivatives hedging variable annuity benefits subject to fluctuations as a result of interest rate sensitivities. The permitted practice expands on SSAP No. 108 hedge accounting to include equity risks for the full scope of Variable Annuity (VA) contracts (i.e., not just the rider guarantees but for the VA total contract). The permitted practice allows Equitable America to adopt SSAP 108 retroactively from October 1, 2023 and applies to both directly held VA hedges as well as VA hedges in the Equitable America funds withheld asset that resulted from the Reinsurance Treaty. In the calculation of the amount of excess VA equity and interest rate derivative hedging gains/losses to defer (including Net Investment Income on our Equity Total Return Swaps), the permitted practice allows us to compare our total equity and interest derivatives gains and losses to 100% of our target liability change. Any hedge gain or loss deferrals will follow SSAP No. 108 amortization rules (i.e. 10-year straight line). The impact of applying this revised permitted practice relative to SSAP 108 was an increase of approximately $1.5 billion in statutory special surplus funds as of September 30, 2024. If the Company had not used all of the aforementioned prescribed and permitted practices that differ from NAIC SAP, a risk-based capital regulatory event would not have been triggered.

MARKET RISK BENEFITS

MARKET RISK BENEFITS	9 Months Ended
	Sep. 30, 2024
Market Risk Benefit [Abstract]
MARKET RISK BENEFITS	MARKET RISK BENEFITS The following table presents the balances and changes to the balances for the market risk benefits for the GMxB benefits on deferred variable annuities: Three Months Ended September 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (Dollars in millions) Balance, beginning of period $ 917 $ 5,266 $ 1,064 $ 6,226 Balance BOP before changes in the instrument specific credit risk 667 4,898 1,073 6,232 Model changes and effect of changes in cash flow assumptions 76 (47) 54 (44) Actual market movement effect (181) (245) 216 291 Interest accrual 7 52 13 76 Attributed fees accrued (1) 89 82 90 87 Benefit payments (9) (120) (11) (127) Actual policyholder behavior different from expected behavior 5 (11) 7 (5) Changes in future economic assumptions 194 458 (541) (1,080) Issuances (1) — — — Balance EOP before changes in the instrument-specific credit risk 847 5,067 901 5,430 Changes in the instrument-specific credit risk (2) 252 379 123 190 Balance, end of period $ 1,099 $ 5,446 $ 1,024 $ 5,620 Weighted-average age of policyholders (years) 65.4 74.2 64.5 73.6 Net amount at risk $ 2,592 $ 8,963 $ 3,487 $ 10,957 _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Nine Months Ended September 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (Dollars in millions) Balance, beginning of period $ 1,191 $ 6,082 $ (6) $ — Balance BOP before changes in the instrument specific credit risk 934 5,695 (5) — Model changes and effect of changes in cash flow assumptions 76 (47) 54 (44) Actual market movement effect (332) (559) 103 30 Interest accrual 24 165 22 144 Attributed fees accrued (1) 274 245 192 182 Benefit payments (30) (407) (23) (280) Actual policyholder behavior different from expected behavior 13 (18) 15 (9) Changes in future economic assumptions (109) (170) (762) (1,435) Issuances (2) (3) 163 1,305 6,842 Balance EOP before changes in the instrument-specific credit risk 847 5,067 901 5,430 Changes in the instrument-specific credit risk (3) 252 379 123 190 Balance, end of period $ 1,099 $ 5,446 $ 1,024 $ 5,620 Weighted-average age of policyholders (years) 65.4 74.2 64.5 73.6 Net amount at risk $ 2,592 $ 8,963 $ 3,487 $ 10,957 _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances in 2023 are related to the Reinsurance Treaty with Equitable Financial. During the first quarter of 2024, Equitable Financial completed a non-affiliated recapture of reinsurance. The Company assumed MRBs related to the policies recaptured. (3) Changes are recorded in OCI. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk benefit amounts in the consolidated balance sheets: September 30, 2024 December 31, 2023 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (26) $ 1,125 $ 1,099 $ — $ 1,099 $ (14) $ 1,205 $ 1,191 $ — $ 1,191 GMxB Legacy — 5,446 5,446 — 5,446 — 6,082 6,082 — 6,082 Other (13) 24 11 (7) 4 (10) 46 36 (9) 27 Total $ (39) $ 6,595 $ 6,556 $ (7) $ 6,549 $ (24) $ 7,333 $ 7,309 $ (9) $ 7,300

POLICYHOLDER ACCOUNT BALANCES

POLICYHOLDER ACCOUNT BALANCES	9 Months Ended
	Sep. 30, 2024
Policyholder Account Balance [Abstract]
POLICYHOLDER ACCOUNT BALANCES	POLICYHOLDER ACCOUNT BALANCES The following tables reconcile the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 1,175 $ 1,186 IUL 2,505 2,431 EI 1,771 1,964 EG 6,436 6,619 SCS 50,533 40,353 Other (1) (28,258) (27,590) Total $ 34,162 $ 24,963 ______________ (1) Includes $(31.9) billion and $(30.3) billion as of September 30, 2024 and December 31, 2023, respectively, of assumed fair value of the modco reinsurance with Equitable Financial. The following tables summarize the balances and changes in policyholders’ account balances: Nine Months Ended September 30, 2024 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ 1,186 $ 2,431 $ 1,964 $ 6,619 40,353 Issuances — — — — — Premiums received 343 174 8 235 2 Policy charges (358) (145) — (3) (15) Surrenders and withdrawals (12) (76) (215) (686) (2,451) Benefit payments (13) (11) (13) (14) (190) Net transfers from (to) separate account — — (13) 135 7,630 Interest credited (2) 29 132 40 150 5,204 Balance, end of period $ 1,175 $ 2,505 $ 1,771 $ 6,436 $ 50,533 Weighted-average crediting rate 3.65% 2.55% 2.89% 2.36% 0.01% Net amount at risk (3) $ 15,126 $ 18,635 $ 90 $ 5 $ — Cash surrender value $ 1,035 $ 1,920 $ 1,768 $ 6,390 $ 47,964 ______________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. Nine Months Ended September 30, 2023 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ — $ 1,962 $ — $ — $ 242 Issuances 1,208 349 2,213 6,817 31,189 Premiums received 241 180 5 173 — Policy charges (254) (143) — (2) (5) Surrenders and withdrawals (9) (46) (144) (451) (1,203) Benefit payments (12) (8) (16) (12) (120) Net transfers from (to) separate account — — (17) 79 4,946 Interest credited (2) 18 92 31 93 1,474 Other — — — — — Balance, end of period $ 1,192 $ 2,386 $ 2,072 $ 6,697 $ 36,523 Weighted-average crediting rate 3.42% 2.39% 2.88% 2.31% —% Net amount at risk (3) $ 16,308 $ 19,322 $ 115 $ 38 $ 30 Cash surrender value $ 1,039 $ 1,825 $ 2,067 $ 6,650 $ 33,064 ___________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. The following table presents the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums: September 30, 2024 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 9 41 200 448 698 Greater than 2.50% — 476 — — 476 Total $ 9 $ 517 $ 200 $ 448 $ 1,174 Indexed Universal Life 0.00% - 1.50% — — — — — 1.51% - 2.50% 659 564 1,155 — 2,378 Greater than 2.50% — — — — — Total $ 659 $ 564 $ 1,155 $ — $ 2,378 EQUI-VEST Individual 0.00% - 1.50% 42 191 — — 233 1.51% - 2.50% 38 — — — 38 Greater than 2.50% 1,500 — — — 1,500 Total $ 1,580 $ 191 $ — $ — $ 1,771 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A EQUI-VEST Group 0.00% - 1.50% 450 2,054 21 234 2,759 1.51% - 2.50% 272 — — — 272 Greater than 2.50% 2,424 — — — 2,424 Total $ 3,146 $ 2,054 $ 21 $ 234 $ 5,455 December 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 47 9 339 298 693 Greater than 2.50% — 492 — — 492 Total $ 47 $ 501 $ 339 $ 298 $ 1,185 Indexed Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 1,112 218 1,001 — 2,331 Greater than 2.50% — — — — — Total $ 1,112 $ 218 $ 1,001 $ — $ 2,331 EQUI-VEST Individual 0.00% - 1.50% $ 47 $ 205 $ — $ — $ 252 1.51% - 2.50% 42 — — — 42 Greater than 2.50% 1,670 — — — 1,670 Total $ 1,759 $ 205 $ — $ — $ 1,964 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A EQUI-VEST Group 0.00% - 1.50% $ 488 $ 2,020 $ 11 $ 277 $ 2,796 1.51% - 1.51% 269 — — — 269 Greater than 2.50% 2,642 — — — 2,642 Total $ 3,399 $ 2,020 $ 11 $ 277 $ 5,707 Separate Account - Summary The following tables reconcile the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 2,570 $ 2,128 GMxB Core 3,702 2,166 IE 534 226 Reinsured 1,104 1,022 Other 417 212 Total $ 8,327 $ 5,754 The following tables present the balances of and changes in Separate Account liabilities: Nine Months Ended September 30, 2024 VUL GMxB Core IE Reinsured (2) (in millions) Balance, beginning of period $ 2,128 $ 2,166 $ 226 $ 1,022 Premiums and deposits 323 1,148 1,066 15 Policy charges (110) (22) — (24) Surrenders and withdrawals (38) (57) (14) (61) Benefit payments (8) (9) — (17) Investment performance (1) 319 147 (784) — Net transfers from (to) general account (44) 329 40 169 Other charges — — — — Balance, end of period $ 2,570 $ 3,702 $ 534 $ 1,104 Cash surrender value $ 2,228 $ 3,454 $ 510 $ — __ _____________ (1) Investment performance is reflected net of mortality and expense fees. (2) Reinsured primarily reflects Protective Life reinsured ceded business. Nine Months Ended September 30, 2023 VUL GMxB Core IE Reinsured (1) (in millions) Balance, beginning of period $ 1,653 $ 756 $ 26 $ 913 Premiums and deposits 284 790 387 15 Policy charges (98) (8) — (25) Surrenders and withdrawals (36) (21) (4) (49) Benefit payments (9) (4) — (4) Investment performance (2) 117 20 1 — Net transfers from (to) general account (32) 110 (245) 103 Other charges — — — — Balance, end of period $ 1,879 $ 1,643 $ 165 $ 953 Cash surrender value $ 1,551 $ 1,516 $ 157 $ — __ ____________ (1) Reinsured primarily reflects Protective Life reinsured ceded business. (2) Investment performance is reflected net of mortality and expense fees. The following tables present the aggregate fair value of Separate Account assets by major asset category: September 30, 2024 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Mutual Funds $ 3,141 $ 5,157 $ 17 $ 12 $ 8,327 Total $ 3,141 $ 5,157 $ 17 $ 12 $ 8,327 December 31, 2023 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Other Total (in millions) Asset Type Mutual Funds $ 2,642 $ 3,100 $ 12 $ 5,754 Total $ 2,642 $ 3,100 $ 12 $ 5,754

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three and nine months ended September 30, 2024 and 2023 was computed using an estimated annual effective tax rate (“ETR”), with discrete items recognized in the period in which they occur. The estimated ETR is revised, as necessary, at the end of successive interim reporting periods. During the fourth quarter of 2022, the Company established a valuation allowance against its deferred tax asset related to unrealized capital losses in the available for sale securities portfolio. During the year ended December 31, 2023, management took actions to increase its available liquidity so that the Company has the ability and intent to hold the majority of securities in its available for sale portfolio to recovery. For liquidity and other purposes, the Company maintains a smaller pool of securities that it does not intend to hold to recovery. The Company maintains a valuation allowance against the deferred tax asset on available for sale securities that will not be held to recovery. For the three and nine months ended September 30, 2024, the Company recorded decreases to the valuation allowance of $10 million and $4 million, respectively, due to changes in the value of unrealized losses in the available for sale portfolio that will not be held to recovery. This adjustment was recorded in other comprehensive income. A valuation allowance of $1 million remains against the portion of the deferred tax asset that is still not more-likely-than-not to be realized. The Company uses the aggregate portfolio approach related to the stranded or disproportionate income tax effects in accumulated other comprehensive income related to available for sale securities. Under this approach, the disproportionate tax effect remains intact as long as the investment portfolio remains.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company did not enter into any new significant transactions with related parties during the three and nine months ended September 30, 2024. Holding has provided a guarantee of the Company’s performance under a reinsurance arrangement that will no longer be in effect once certain conditions at the Company are met and notice is provided. On May 17, 2023, the Company entered into a reinsurance agreement with Equitable Financial, effective April 1, 2023. See Note 16 of the Notes to these Consolidated Financial Statements for further details.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
EQUITY	EQUITY AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances were as follows: September 30, 2024 December 31, 2023 (in millions) Unrealized gains (losses) on investments $ 216 $ (51) Market risk benefits - instrument-specific credit risk component (636) (649) Liability or future policy benefits - current discount rate component 7 6 Defined benefit pension plans — — Accumulated other comprehensive income (loss) $ (413) $ (694) The components of OCI, net of taxes were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 385 $ (158) $ 271 $ (137) (Gains) losses reclassified into net income (loss) during the period (1) — — — 4 Net unrealized gains (losses) on investments 385 (158) 271 (133) Adjustments for policyholders’ liabilities, insurance liability loss recognition and other (3) 4 (2) 3 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $89, $(42), $66 and $(54)) 382 (154) 269 (130) Change in LFPB discount rate and MRB credit risk Change in market risk benefits - instrument-specific credit risk (net of deferred income tax expense (benefit) of $(2), $(70), $3 and $(67)) (9) (262) 11 (251) Changes in liability for future policy benefits - current discount rate (net of deferred income tax expense (benefit) of $(7), $3, $0 and $3) (27) 11 1 12 Other comprehensive income (loss) $ 346 $ (405) $ 281 $ (369) ______________ (1) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $0 million for both the three and nine months ended September 30, 2024 and $(2) million and $(1) million for the three and nine months ended September 30, 2023, respectively. Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in total investment gains (losses), net on the consolidated statements of income (loss). Amounts presented in the table above are net of tax.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Litigation, regulatory and other loss contingencies arise in the ordinary course of the Company’s activities. The Company is a defendant in litigation matters arising from the conduct of its business. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters, nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company’s litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company’s results of operations or cash flows in a particular quarterly or annual period. For some matters, the Company is able to estimate a range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company believes a loss is reasonably possible, but not probable, no accrual is required. For matters for which an accrual has been made, but there remains a reasonably possible range of loss in excess of the amounts accrued or for matters where no accrual is required, the Company develops an estimate of the unaccrued amounts of the reasonably possible range of losses . As of September 30, 2024 , the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date, to be up to approximately $5 million . For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company’s accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews. FHLB As a member of the FHLB, the Company has access to collateralized borrowings. It also may issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require the Company to pledge qualified mortgage-backed assets and/or government securities as collateral, and would be reported in policyholders’ account balances in the balance sheets. The Company had no collateralized borrowings or funding agreements outstanding at September 30, 2024 or December 31, 2023. The Company has purchased $4 million of FHLB stock as of September 30, 2024. Funding Agreement-Backed Commercial Paper Program In May 2023, the Company established a funding agreement-backed commercial paper program (the “FABCP Program”), pursuant to which a special purpose limited liability company (the “SPLLC”) may issue commercial paper and deposit the proceeds with the Company pursuant to a funding agreement issued by the Company to the SPLLC. The current maximum aggregate principal amount permitted to be outstanding at any one time under the FABCP Program is $1.0 billion. The Company had $0 outstanding as of September 30, 2024 and December 31, 2023. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. As of September 30, 2024, these arrangements include commitments by the Company to provide equity financing of $260 million to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company had $0 million of commitments under existing mortgage loans or mortgage loan commitment agreements at September 30, 2024.

INSURANCE STATUTORY FINANCIAL I

INSURANCE STATUTORY FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2024
Insurance Statutory Financial Information [Abstract]
INSURANCE STATUTORY FINANCIAL INFORMATION	LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS The following tables reconcile the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Reconciliation Payout $ 736 $ 368 UL (1) 360 344 Other (2) 339 337 Subtotal 1,435 1,049 Other policy funds (3) 695 604 Grand total $ 2,130 $ 1,653 ______________ (1) Represents the SOP NLG Rider on UL contracts assumed from Equitable Financial. (2) Primarily future policy benefits related to Protective Life & Annuity and Employee Benefits. (3) Includes $485 million of URL of which $481 million is covered in Note 5 of the Notes to these Consolidated Financial Statements. The following tables summarize balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts. The payout annuities result from annuitization of current contracts. Inflows are the liquidation of the account values not premiums: Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 368 $ — Beginning balance of original discount rate 361 — Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience — — Adjusted beginning of period balance 361 — Issuances 368 251 Interest accrual 13 — Benefits payments (27) — Ending balance at original discount rate 715 251 Effect of changes in discount rate assumptions 21 (11) Balance, end of period $ 736 $ 240 Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Net liability for future policy benefits $ 736 $ 241 Less: Reinsurance recoverable — — Net liability for future policy benefits, after reinsurance recoverable $ 736 $ 241 Weighted-average duration of liability for future policyholder benefits (years) 7.5 7.5 The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: September 30, 2024 December 31, 2023 (in millions) Payout Expected future benefit payments and expenses (undiscounted) $ 1,073 $ 541 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 730 364 Expected future gross premiums (discounted) — — The following table provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities : Nine Months Ended September 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Payout (1) $ 119 $ 81 $ 23 $ 3 Total $ 119 $ 81 $ 23 $ 3 ______________ (1) Gross premium reflected is the liquidation of Account Value at time of annuitization. The following table provides the weighted average interest rates for the liability for future policy benefits: September 30, 2024 December 31, 2023 Weighted Average Interest Rate Payout Interest accretion rate 5.1 % 5.3 % Current discount rate 4.7 % 5.0 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Nine Months Ended September 30, 2024 2023 UL (in millions) Balance, beginning of period $ 344 $ — Beginning balance before AOCI adjustments 344 — Effect of changes in interest rate and cash flow assumptions and model changes 2 6 Effect of actual variances from expected experience (3) 3 Adjusted beginning of period balance 343 9 Issuances — 322 Interest accrual 11 4 Net assessments collected 15 1 Benefit payments (9) (2) Ending balance before shadow reserve adjustments 360 333 Effect of shadow reserve adjustment — — Balance, end of period $ 360 $ 333 Net liability for additional liability $ 360 $ 333 Effect of reserve adjustment recorded in AOCI — — Net liability for additional liability, after reinsurance recoverable $ 360 $ 333 Weighted-average duration of additional liability - death benefit (years) 16.9 17.2 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Assessments Interest Accretion Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 419 $ 11 $ 395 $ 7 Total $ 419 $ 11 $ 395 $ 7 Nine Months Ended September 30, 2024 2023 Universal Life Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % Prescribed and Permitted Accounting Practices As of September 30, 2024, the following two prescribed and permitted practices resulted in surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. During 2022, Equitable Life Financial Insurance Company of America received approval from the Arizona Department of Insurance and Financial Institutions pursuant to A.R.S. 20-515 for Separate Account No. 68A (“SA 68A”) for our Structured Capital Strategies product, Separate Account No. 69A (“SA 69A”) for our EQUI-VEST product Structured Investment Option and Separate Account No. 71A (“SA 71A”) for our Investment Edge Structured Investment Option, to permit us to use book value as the accounting basis of these three non-insulated Separate Accounts instead of fair value in accordance with the NAIC Accounting and Practices and Procedures Manual to align with how we manage and measure our overall general account asset portfolio. The impact of the application is a decrease of approximately $158 million in statutory surplus as of September 30, 2024. The Arizona Department of Insurance and Financial Institutions granted to Equitable America a permitted practice to deviate from SSAP No. 108 by applying special accounting treatment for specific derivatives hedging variable annuity benefits subject to fluctuations as a result of interest rate sensitivities. The permitted practice expands on SSAP No. 108 hedge accounting to include equity risks for the full scope of Variable Annuity (VA) contracts (i.e., not just the rider guarantees but for the VA total contract). The permitted practice allows Equitable America to adopt SSAP 108 retroactively from October 1, 2023 and applies to both directly held VA hedges as well as VA hedges in the Equitable America funds withheld asset that resulted from the Reinsurance Treaty. In the calculation of the amount of excess VA equity and interest rate derivative hedging gains/losses to defer (including Net Investment Income on our Equity Total Return Swaps), the permitted practice allows us to compare our total equity and interest derivatives gains and losses to 100% of our target liability change. Any hedge gain or loss deferrals will follow SSAP No. 108 amortization rules (i.e. 10-year straight line). The impact of applying this revised permitted practice relative to SSAP 108 was an increase of approximately $1.5 billion in statutory special surplus funds as of September 30, 2024. If the Company had not used all of the aforementioned prescribed and permitted practices that differ from NAIC SAP, a risk-based capital regulatory event would not have been triggered.

UNPAID CLAIM AND CLAIM EXPENSES

UNPAID CLAIM AND CLAIM EXPENSES	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
UNPAID CLAIM AND CLAIM EXPENSES	UNPAID CLAIM AND CLAIM EXPENSES The following summarizes the change in liability for unpaid claims and claim expenses: Liability for Unpaid Claims and Claim Expenses Nine Months Ended September 30, 2024 2023 (in millions) Gross Balance, beginning of period $ 141 $ 110 Less Reinsurance 48 36 Net Balance, beginning of period 93 74 Incurred Claims (net) Related to: Current Period 211 178 Prior Period (14) (15) Total Incurred 197 163 Paid Claims (net) Related to: Current Period 130 113 Prior Period 49 37 Total Paid 179 150 Net Balance, end of period 112 87 Add Reinsurance 47 44 Gross Balance, end of period $ 159 $ 131

REINSURANCE

REINSURANCE	9 Months Ended
	Sep. 30, 2024
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company assumes and cedes reinsurance with other insurance companies. The Company evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Ceded reinsurance does not relieve the originating insurer of liability. The following table summarizes the effect of reinsurance: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Direct charges and fee income $ 117 $ 100 $ 335 $ 278 Reinsurance assumed - Equitable Financial 349 341 1,028 685 Reinsurance ceded (30) (30) (89) (81) Policy charges and fee income $ 436 $ 411 $ 1,274 $ 882 Direct premiums $ 106 $ 87 $ 313 $ 259 Assumed premiums 11 — 34 — Reinsurance assumed - Equitable Financial 49 59 129 118 Reinsurance ceded (12) (14) (41) (44) Premiums $ 154 $ 132 $ 435 $ 333 Direct policyholders’ benefits $ 113 $ 119 $ 381 $ 337 Assumed policyholders’ benefits 20 — 40 — Reinsurance assumed - Equitable Financial 159 163 528 361 Reinsurance ceded (21) (21) (78) (80) Policyholders’ benefits $ 271 $ 261 $ 871 $ 618 Direct interest credited to policyholders’ account balances $ 179 $ 84 $ 443 $ 158 Reinsurance assumed - Equitable Financial 168 155 474 306 Reinsurance ceded (9) (8) (24) (25) Interest credited to policyholders’ account balances $ 338 $ 231 $ 893 $ 439 Ceded Reinsurance In 2013, the Company entered into the Reinsurance Agreement with Protective to reinsure an in-force book of life insurance and annuity policies written prior to 2004. In addition to the Reinsurance Agreement, the Company entered into a long-term administrative services agreement with Protective whereby Protective will provide all administrative and other services with respect to the reinsured business. For business not reinsured with Protective, the Company generally reinsures its variable life and interest-sensitive life insurance policies on an excess of retention basis. The Company generally retains up to a maximum of $4 million of mortality risk on single-life policies and up to a maximum of $6 million of mortality risk on second-to die policies. For amounts applied for in excess of those limits, reinsurance is ceded to Equitable Financial up to a combined maximum of $20 million of risk on single-life policies and up to a maximum of $25 million on second-to die policies. For amounts issued in excess of these limits, reinsurance is typically obtained from unaffiliated third parties. These reinsurance arrangements obligate the reinsurers to pay a portion of any death claim in excess of the amount the Company retains in exchange for an agreed-upon premium. Equitable America had a quota share arrangement with AXA Global Re (formerly AXA Cessions), assuming a percentage of excess Life/Disability/A&H business. The contract is now closed to new business. Beginning in 2015, group short and long-term disability is being reinsured with Group Reinsurance Plus (GRP) via a quota share arrangement. Assumed Reinsurance On May 17, 2023, Equitable Financial entered into a reinsurance agreement with Equitable America, effective April 1, 2023. Pursuant to the Reinsurance Treaty, virtually all of Equitable Financial’s net retained General Account liabilities, including all of its net retained liabilities relating to the living benefit and death riders related to (i) its variable annuity contracts issued outside the State of New York prior to October 1, 2022 (and with respect to its EQUI-VEST variable annuity contracts, issued outside the State of New York prior to February 1, 2023) and (ii) certain universal life insurance policies issued outside the State of New York prior to October 1, 2022, were reinsured to Equitable America on a coinsurance funds withheld basis. In addition, all of the Separate Accounts liabilities relating to such variable annuity contracts were reinsured to Equitable America on a modified coinsurance basis. Equitable America’s obligations under the Reinsurance Treaty are secured through Equitable Financial’s retention of certain assets supporting the reinsured liabilities. There is a diverse pool of assets supporting the funds withheld and NI modco arrangement with Equitable Financial. The following table summarizes the composition of the pool of assets: September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value (in millions) Fixed maturities $ 23,530 $ 23,530 $ 24,725 $ 24,725 Mortgage loans on real estate 7,889 7,184 8,405 7,409 Policy loans 272 274 248 250 Other equity investments 190 190 238 238 Other invested assets (1) 11,022 11,022 8,256 8,257 Total assets supporting funds withheld $ 42,903 $ 42,200 $ 41,872 $ 40,879 ______________ (1) Other invested assets includes derivatives and cash and cash equivalents.

REVISION OF PREVIOUSLY ISSUED F

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS	REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS The Company identified certain errors in its previously issued September 30 and June 30, 2023 interim financial statements primarily related to the initial and ongoing recording for the Reinsurance Treaty. Management evaluated these errors in accordance with SEC Staff Accounting Bulletin Number 99, Materiality, which is since codified in Accounting Standards Codification ("ASC" 250, Accounting Changes and Error Corrections) and concluded they were not material to any previously reported quarterly financial statements. However, in order to improve the consistency and comparability of the financial statements, management will revise the financial statements and related disclosures to correct these errors in future interim filings. As part of correcting the errors associated with the Reinsurance Treaty, other immaterial errors, including coding errors impacting the inforce used to calculate actuarial reserves, which were previously recorded as out of period misstatements in previously issued 2023 interim financial statements, were also corrected and properly reflected in the financial statements as of and for the period ended December 31, 2022. Impacted financial statements include the previously issued September 30, June 30 and March 31, 2023 interim financial statements and December 31, 2022 annual financial statements. The following tables present line items for the previously issued September 30, 2023 interim financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact of the errors, and the amounts as revised. The following interim financial statements are unaudited. September 30, 2023 As Previously Adjustments As Revised (unaudited) (in millions) Balance Sheets Funds withheld receivable $ 10,550 $ 127 $ 10,677 Reinsurance deposit assets 12,682 (19) 12,663 Current and deferred income taxes 131 (4) 127 Assets for market risk benefits 24 (2) 22 Total Assets 39,861 102 39,963 Liability for market risk benefits 6,731 (19) 6,712 Future policy benefits and other policyholders’ liabilities 1,352 98 1,450 Other liabilities 2,137 6 2,143 Total Liabilities 38,371 85 38,456 Retained earnings (accumulated deficit) 373 (1) 372 Accumulated other comprehensive income (loss) (768) 18 (750) Total Equity 1,490 17 1,507 Total Liabilities and Equity $ 39,861 $ 102 $ 39,963 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Income (Loss) Policy charges and fee income $ 410 $ 1 $ 411 $ 882 $ — $ 882 Premiums 152 (20) 132 333 — 333 Net derivative gains (losses) (340) 4 (336) (1,034) 5 (1,029) Investment management and service fees 143 (17) 126 253 — 253 Total revenues 502 (32) 470 695 5 700 Benefits and other deductions Policyholders' benefits 244 17 261 658 (40) 618 Remeasurement of liability for future policy benefits 10 13 23 10 11 21 Change in market risk benefits and purchased market risk benefits (980) (12) (992) (1,842) 12 (1,830) Commissions 100 (1) 99 221 (2) 219 Amortization of reinsurance deposit assets — 93 93 — 241 241 Other operating costs and expenses 210 (104) 106 455 (218) 237 Total benefits and deductions (148) 6 (142) 34 4 38 Income (loss) from continuing operations, before income taxes 650 (38) 612 661 1 662 Income tax (expense) benefit from continuing operations (134) 3 (131) (68) — (68) Net income (loss) from continuing operations 516 (35) 481 593 1 594 Net income (loss) $ 516 $ (35) $ 481 $ 593 $ 1 $ 594 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Comprehensive Income (Loss) Net income (loss) $ 516 $ (35) $ 481 $ 593 $ 1 $ 594 Changes in market risk benefits - instrument-specific credit risk (280) 18 (262) (268) 17 (251) Other comprehensive income (423) 18 (405) (386) 17 (369) Comprehensive income (loss) $ 93 $ (17) $ 76 $ 207 $ 18 $ 225 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Equity Accumulated Deficit, beginning of year $ (143) $ 34 $ (109) $ (220) $ (2) $ (222) Net income (loss) 516 (35) 481 593 1 594 Accumulated Deficit, end of year 373 (1) 372 373 (1) 372 Accumulated other comprehensive income (loss), beginning of year (345) — (345) (382) 1 (381) Other comprehensive income (loss) (423) 18 (405) (386) 17 (369) Accumulated other comprehensive income (loss), end of year (768) 18 (750) (768) 18 (750) Total equity, end of year $ 1,490 $ 17 $ 1,507 $ 1,490 $ 17 $ 1,507 Nine Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (unaudited) (in millions) Statement of Cash Flows Cash flow from operating activities Net income (loss) $ 593 $ 1 $ 594 Net derivative (gains) losses 1,034 (5) 1,029 Remeasurement of liability for future policy benefits\ 10 11 21 Change in market risk benefits (1,842) 12 (1,830) Future policy benefits 264 101 365 Funds withheld receivable (87) (132) (219) Other, net 972 12 984 Net cash provided by (used in) operating activities $ 452 $ — $ 452

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 433	$ 481	$ 473	$ 594

Insider Trading Arrangements

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

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023. The terms “third quarter 2024” and “third quarter 2023” refer to the three months ended September 30, 2024 and 2023, respectively. The terms “first nine months of 2024” and “first nine months of 2023” refer to the nine months ended September 30, 2024 and 2023, respectively.
Future Adoption of New Accounting Pronouncements	Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The adoption of ASU 2023-07 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements.
Accounting and Consolidation of VIEs	Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity is determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, the Company consolidates the entity. Quarterly, management of the Company reviews its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts, and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs As of September 30, 2024 and December 31, 2023, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIEs model. Included in other invested assets and mortgage loans on real estate in the Company’s consolidated balance sheets at September 30, 2024 and December 31, 2023 are total assets of $669 million and $0 million, respectively related to these VIEs. Non-Consolidated VIEs
Assumption Updates and Model Changes	Assumption Updates and Model Changes The Company conducts its annual review of its assumptions and models during the third quarter of each year. The annual review encompasses assumptions underlying the valuation of MRB, liabilities for future policyholder benefits and additional liability update. However, the Company updates its assumptions as needed in the event it becomes aware of economic conditions or events that could require a change in assumptions that it believes may have a significant impact to the carrying value of product liabilities and assets and consequently materially impact its earnings in the period of the change.
Revision of Previously Issued Financial Statements	Revision of Previously Issued Financial Statements The Company identified certain errors in its previously issued financial statements primarily related to the initial and ongoing recording for the Reinsurance Treaty and coding errors impacting the inforce used to calculate actuarial reserves. The impact of these errors to prior periods’ financial statements was not considered to be material. In order to improve the consistency and comparability of the financial statements, management revised the financial statements to include the revisions discussed herein. See Note 17 of the Notes to these Financial Statements for details of the revision.
Fair Value Disclosures	U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued are also considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so. The adoption of ASU 2023-07 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis. The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows. SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds. Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption. The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s consolidated financial statements.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Fixed Maturities by Classification	The following tables provide information relating to the Company’s fixed maturities classified as AFS: AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) September 30, 2024: Fixed Maturities: Corporate (1) $ 9,392 $ — $ 285 $ 233 $ 9,444 U.S. Treasury, government and agency 15 — — — 15 States and political subdivisions 49 — — 7 42 Foreign governments 49 — 1 — 50 Residential mortgage-backed 2,207 — 41 4 2,244 Asset-backed (2) 5,519 — 96 2 5,613 Commercial mortgage-backed 570 — 11 10 571 Total at September 30, 2024 $ 17,801 $ — $ 434 $ 256 $ 17,979 December 31, 2023: Fixed Maturities: Corporate (1) $ 5,842 $ — $ 96 $ 276 $ 5,662 U.S. Treasury, government and agency 15 — — — 15 States and political subdivisions 50 — — 7 43 Foreign governments 31 — 1 1 31 Residential mortgage-backed 961 — 15 4 972 Asset-backed (2) 2,956 — 32 2 2,986 Commercial mortgage-backed 195 — 1 14 182 Total at December 31, 2023 $ 10,050 $ — $ 145 $ 304 $ 9,891 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types.
Schedule of Contractual Maturities of Available-for-Sale Fixed Maturities	The contractual maturities of AFS fixed maturities as of September 30, 2024 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or pre-pay obligations with or without call or pre-payment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) September 30, 2024: Contractual maturities: Due in one year or less $ 76 $ 76 Due in years two through five 2,261 2,307 Due in years six through ten 5,680 5,820 Due after ten years 1,488 1,348 Subtotal 9,505 9,551 Residential mortgage-backed 2,207 2,244 Asset-backed 5,519 5,613 Commercial mortgage-backed 570 571 Total at September 30, 2024 $ 17,801 $ 17,979
Schedule of Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities: Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Proceeds from sales $ 18 $ 183 $ 18 $ 233 Gross gains on sales $ — $ — $ — $ — Gross losses on sales $ — $ — $ — $ (5)
Schedule of AFS Fixed Maturities - Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts: AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ — $ — $ — $ — Previously recognized impairments on securities that matured, paid, prepaid or sold — — — — Balance, end of period $ — $ — $ — $ —
Schedule of Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities	The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI: Net Unrealized Gains (Losses) on AFS Fixed Maturities Three Months Ended September 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, beginning of period $ (296) $ 9 $ (9) $ (296) Net investment gains (losses) arising during the period 474 — — 474 Reclassification adjustment: Included in net income (loss) — — — — Excluded from net income (loss) — — — — Other — — 10 10 Impact of net unrealized investment gains (losses) — (2) (100) (102) Net unrealized investment gains (losses) excluding credit losses 178 7 (99) 86 Net unrealized investment gains (losses) with credit losses — — — — Balance, end of period $ 178 $ 7 $ (99) $ 86 Three Months Ended September 30, 2023 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (376) $ 7 $ 13 $ (356) Net investment gains (losses) arising during the period (200) — — (200) Reclassification adjustment: Included in net income (loss) — — — — Excluded from net income (loss) — — — — Impact of net unrealized investment gains (losses) — 5 40 45 Net unrealized investment gains (losses) excluding credit losses (576) 12 53 (511) Net unrealized investment gains (losses) with credit losses — — — — Balance, end of period $ (576) $ 12 $ 53 $ (511) Nine Months Ended September 30, 2024 Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) (1) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1) (in millions) Balance, beginning of period $ (159) $ 8 $ (33) $ (184) Net investment gains (losses) arising during the period 337 — — 337 Reclassification adjustment: Included in net income (loss) — — — — Other — — 5 5 Impact of net unrealized investment gains (losses) — (1) (71) (72) Net unrealized investment gains (losses) excluding credit losses 178 7 (99) 86 Balance, end of period $ 178 $ 7 $ (99) $ 86 Nine Months Ended September 30, 2023 Balance, beginning of period $ (388) $ 8 $ (1) $ (381) Net investment gains (losses) arising during the period (193) — — (193) Reclassification adjustment: Included in net income (loss) 5 — — 5 Other — — 16 16 Impact of net unrealized investment gains (losses) — 4 38 42 Net unrealized investment gains (losses) excluding credit losses (576) 12 53 (511) Balance, end of period $ (576) $ 12 $ 53 $ (511) _____________ (1) Certain balances were revised from previously filed financial statements.
Schedule of Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities	The following tables disclose the fair values and gross unrealized losses of the 771 issues as of September 30, 2024 and the 891 issues as of December 31, 2023 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) September 30, 2024: Fixed Maturities: Corporate $ 427 $ 2 $ 1,747 $ 231 $ 2,174 $ 233 States and political subdivisions — — 33 7 33 7 Foreign governments — — 11 — 11 — Residential mortgage-backed 201 1 10 3 211 4 Asset-backed 119 — 7 2 126 2 Commercial mortgage-backed 81 — 63 10 144 10 Total at September 30, 2024 $ 828 $ 3 $ 1,871 $ 253 $ 2,699 $ 256 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) December 31, 2023: Fixed Maturities: Corporate $ 505 $ 7 $ 1,900 $ 269 $ 2,405 $ 276 U.S. Treasury, government and agency — — 8 — 8 — States and political subdivisions — — 33 7 33 7 Foreign governments 7 1 4 — 11 1 Residential mortgage-backed 103 — 9 4 112 4 Asset-backed 290 1 23 1 313 2 Commercial mortgage-backed 29 — 61 14 90 14 Total at December 31, 2023 $ 934 $ 9 $ 2,038 $ 295 $ 2,972 $ 304
Schedule of Financing Receivable, Allowance for Credit Loss	The change in the allowance for credit losses for commercial and residential mortgage loans were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 4 $ — $ 2 $ — Current-period provision for expected credit losses 1 — 3 — Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 1 — 3 — Balance, end of period $ 5 $ — $ 5 $ — Residential mortgages: Balance, beginning of period $ 1 $ — $ — $ — Current-period provision for expected credit losses 1 — 2 — Write-offs charged against the allowance — — — — Recoveries of amounts previously written off — — — — Net change in allowance 1 — 2 — Balance, end of period $ 2 $ — $ 2 $ — Total allowance for credit losses $ 7 $ — $ 7 $ —
Schedule of Financing Receivable Credit Quality Indicators	The Company’s commercial mortgage loans segregated by risk rating exposure were as follows: Loan to Value (“LTV”) Ratios (1) (3) September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ — $ — $ 17 $ — $ — $ 17 50% - 70% 516 301 — — — — — — 817 70% - 90% — — — — — — — — — 90% plus — — — — — — — — — Total commercial loans $ 516 $ 301 $ — $ — $ — $ 17 $ — $ — $ 834 Debt Service Coverage (“DSC”) Ratios (2) (3) September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Commercial: Greater than 2.0x $ 23 $ — $ — $ — $ — $ 17 $ — $ — $ 40 1.8x to 2.0x 103 — — — — — — — 103 1.5x to 1.8x 87 — — — — — — — 87 1.2x to 1.5x 303 221 — — — — — — 524 1.0x to 1.2x — 80 — — — — — — 80 Less than 1.0x — — — — — — — — — Total commercial loans $ 516 $ 301 $ — $ — $ — $ 17 $ — $ — $ 834 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. LTV Ratios (1) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: 0% - 50% $ 58 $ — $ — $ — $ — $ 17 $ — $ — $ 75 50% - 70% 221 — — — — — — — 221 70% - 90% — — — — — — — — — 90% plus — — — — — — — — — Total commercial loans $ 279 $ — $ — $ — $ — $ 17 $ — $ — $ 296 DSC Ratios (2) (3) December 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Commercial mortgage loans: Greater than 2.0x $ — $ — $ — $ — $ — $ 17 $ — $ — $ 17 1.8x to 2.0x — — — — — — — — — 1.5x to 1.8x — — — — — — — — — 1.2x to 1.5x 221 — — — — — — — 221 1.0x to 1.2x 58 — — — — — — — 58 Less than 1.0x — — — — — — — — — Total commercial loans $ 279 $ — $ — $ — $ — $ 17 $ — $ — $ 296 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. (3) Residential mortgage loans are excluded from the above tables. The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows: September 30, 2024 Amortized Cost Basis by Origination Year 2024 2023 2022 2021 2020 Prior Total (in millions) Performance indicators: (1) Performing $ 328 $ 197 $ 73 $ 64 $ 2 $ — $ 664 Nonperforming — — — — — — — Total $ 328 $ 197 $ 73 $ 64 $ 2 $ — $ 664 _____________ (1) The Company began investing in residential mortgages in 2024. Therefore, 2023 comparative information is not applicable.
Schedule of Age Analysis of Past Due Mortgage Loans	The aging analysis of past-due mortgage loans were as follows: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Total (in millions) September 30, 2024: Mortgage loans: Commercial $ — $ — $ — $ — $ 834 $ 834 $ — $ 834 $ — $ — Residential — — — — 664 664 — 664 — — Total $ — $ — $ — $ — $ 1,498 $ 1,498 $ — $ 1,498 $ — $ — December 31, 2023: Mortgage loans: Commercial $ — $ — $ — $ — $ 296 $ 296 $ — $ 296 $ — $ — Residential — — — — — — — — — — Total $ — $ — $ — $ — $ 296 $ 296 $ — $ 296 $ — $ — ________________ (1) Amounts presented at amortized cost basis.
Schedule of Unrealized and Realized Gains (Losses) from Equity Securities	The breakdown of unrealized and realized gains and (losses) on equity securities was as follows: Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ — $ 1 $ (1) Unrealized and realized gains (losses) on equity securities $ — $ — $ 1 $ (1) The breakdown of net investment income (loss) from trading securities was as follows: Net Investment Income (Loss) from Trading Securities Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ — $ (1) $ (1) $ (1) Unrealized and realized gains (losses) on trading securities — (1) (1) (1) Net investment income (loss) from trading securities $ — $ (1) $ (1) $ (1)
Schedule of Net Investment Income (Loss)	The following tables provide the components of net investment income by investment type: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ 230 $ 90 $ 555 $ 167 Mortgage loans on real estate 16 — 33 — Policy loans 1 1 4 3 Other equity investments — — 1 — Trading securities — (1) (1) (1) Other investment income 5 10 38 19 Gross investment income (loss) 252 100 630 188 Investment expenses (6) (1) (14) (4) Net investment income (loss) $ 246 $ 99 $ 616 $ 184
Schedule of Investment Gains (Losses) Net Including Changes In Valuation Allowances and Credit Losses	Investment gains (losses), net, including changes in the valuation allowances and credit losses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Fixed maturities $ — $ — $ — $ (5) Mortgage loans on real estate (2) — (5) — Other 6 — 6 — Investment gains (losses), net $ 4 $ — $ 1 $ (5)

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments by Category	The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments: The following table presents the gross notional amount and fair value of the Company’s derivatives: Derivative Instruments by Category September 30, 2024 December 31, 2023 Fair Value Fair Value Notional Derivative Assets Derivative Net Derivatives Notional Derivative Assets Derivative Net Derivatives (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 286 $ — $ 8 $ (8) $ — $ — $ — $ — Interest swaps — — — — — — — — Total: designated for hedge accounting 286 — 8 (8) — — — — Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 4,263 — — — 2,277 — — — Options 11,617 3,421 898 2,523 4,930 1,370 402 968 Interest rate contracts: Futures 1,567 — — — 522 — — — Other contracts: Margin — 269 — 269 — 133 — 133 Collateral — — 2,470 (2,470) — — 956 (956) Total: 17,447 3,690 3,368 322 7,729 1,503 1,358 145 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — 13,198 (13,198) — — 8,804 (8,804) Funds withheld receivable (3) — 361 — 361 — 100 — 100 Modco receivable (2) — — (1,012) 1,012 — — (411) 411 Total embedded derivatives — 361 12,186 (11,825) — 100 8,393 (8,293) Total derivative instruments $ 17,733 $ 4,051 $ 15,562 $ (11,511) $ 7,729 $ 1,603 $ 9,751 $ (8,148) ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. (3) Reported in funds withheld receivable in the consolidated balance sheets. The following table presents the effects of derivative instruments on the consolidated statements of income (loss) and comprehensive income (loss): Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Net Derivatives Gain (Losses) (1) AOCI Net Derivatives Gain (Losses) (1) AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps (8) (1) (8) (1) Interest swaps — — — — Total: designated for hedge accounting (8) (1) (8) (1) Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 Net Derivatives Gain (Losses) (1) AOCI Net Derivatives Gain (Losses) (1) AOCI (in millions) Derivatives: not designated for hedge accounting Equity contracts: Futures $ 172 $ — $ 396 $ — Options 230 — 863 — Interest rate contracts: Futures 47 — 6 — Total: 449 — 1,265 — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features (1,258) — (4,836) — Funds withheld receivable (131) — (1,237) — Modco receivable 1,860 — 4,682 — Total Embedded Derivatives 471 — (1,391) — Total Derivatives instruments (1) $ 912 $ (1) $ (134) $ (1) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Net AOCI Net AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps — — — — Interest swaps — — — — Total: designated for hedge accounting Derivatives: not designated for hedge accounting Equity contracts: Futures $ (75) $ — $ 23 $ — Options (70) — 41 — Interest rate contracts: Futures (47) — (51) — Total: (192) — 13 — Embedded Derivatives: SCS, SIO, MSO and IUL indexed features 903 — (1,326) — Funds withheld receivable 52 — (546) — Modco receivable (1,099) — 830 — Total Embedded Derivatives (144) — (1,042) — Total Derivatives instruments (1) $ (336) $ — $ (1,029) $ — ______________ (1)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents a roll-forward of cash flow hedges recognized in AOCI: Roll-forward of Cash flow hedges in AOCI Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Balance, beginning of period $ — $ — $ — $ — Amount recorded in AOCI Currency swaps (1) — (1) — Interest swaps — — — — Total amount recorded in AOCI (1) — (1) — Amount reclassified (to) from income to AOCI Currency swaps — — — — Interest swaps — — — — Total amount reclassified (to) from income to AOCI — — — — Balance, end of period (1) $ (1) $ — $ (1) $ — ______________ (1) The Company does not estimate the amount of the deferred losses in AOCI at three and nine months ended September 30, 2024 which will be released and reclassified into net income (loss) over the next 12 months as the amounts cannot be reasonably estimated.
Schedule of Offsetting Financial Assets and Liabilities and Derivative Instruments	The following tables present information about the Company’s offsetting of financial assets and liabilities and derivative instruments: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of September 30, 2024 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 3,690 $ 3,004 $ 686 $ (373) $ 313 Secured lending 18 — 18 — 18 Other financial assets (2) — (2) — (2) Other invested assets $ 3,706 $ 3,004 $ 702 $ (373) $ 329 Liabilities: Derivative liabilities $ 3,004 $ 3,004 $ — $ — $ — Secured lending 18 — 18 — 18 Other financial liabilities 2,243 — 2,243 — 2,243 Other liabilities $ 5,265 $ 3,004 $ 2,261 $ — $ 2,261 ______________ (1) Financial instruments sent (held). As of December 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 1,503 $ 1,177 $ 326 $ (178) $ 148 Secured lending 6 — 6 — 6 Other financial assets 19 — 19 — 19 Other invested assets $ 1,528 $ 1,177 $ 351 $ (178) $ 173 Liabilities: Derivative liabilities $ 1,180 $ 1,177 $ 3 $ — $ 3 Secured lending 6 — 6 — 6 Other financial liabilities 2,160 — 2,160 — 2,160 Other liabilities $ 3,346 $ 1,177 $ 2,169 $ — $ 2,169 ______________ (1) Financial instruments sent (held).

DAC AND OTHER DEFERRED ASSETS_2

DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Contract Holder Bonus Interest Credits [Abstract]
Schedule of Reconciliation of Deferred Acquisition Cost	The following table presents a reconciliation of DAC to the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) VUL $ 489 $ 457 IUL 287 293 GMxB Core 194 119 Investment Edge 57 22 SCS 558 289 Other 64 32 Total $ 1,649 $ 1,212
Schedule of Deferred Policy Acquisition Costs	Changes in the DAC asset were as follows: Nine Months Ended September 30, 2024 VUL (1) IUL (2) GMxB Core IE (3) SCS Total (in millions) Balance, beginning of period $ 457 $ 293 $ 119 $ 22 $ 289 $ 1,180 Capitalization 52 8 85 37 315 497 Amortization (4) (20) (14) (10) (2) (46) (92) Balance, end of period $ 489 $ 287 $ 194 $ 57 $ 558 $ 1,585 ______________ (1) “VUL” defined as Variable Universal Life. (2) “IUL” defined as Indexed Universal Life. (3) “IE” defined as Investment Edge. (4) DAC amortization of $2 million related to Other not reflected in table above. Nine Months Ended September 30, 2023 VUL IUL GMxB Core IE SCS Total (in millions) Balance, beginning of period $ 410 $ 296 $ 40 $ 1 $ 13 $ 760 Capitalization 51 11 61 16 207 346 Amortization (1) (17) (13) (4) (1) (12) (47) Balance, end of period $ 444 $ 294 $ 97 $ 16 $ 208 $ 1,059 ______________ (1) DAC amortization of $1 million related to Other not reflected in table above. Changes in the unearned revenue liability were as follows: Nine Months Ended September 30, 2024 2023 VUL IUL VUL IUL (in millions) Balance, beginning of period $ 203 $ 210 $ 159 $ 157 Capitalization 47 42 41 49 Amortization (10) (11) (8) (8) Balance, end of period $ 240 $ 241 $ 192 $ 198

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of September 30, 2024 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 9,266 $ 178 $ 9,444 U.S. Treasury, government and agency — 15 — 15 States and political subdivisions — 42 — 42 Foreign governments — 50 — 50 Residential mortgage-backed — 2,244 — 2,244 Asset-backed (2) — 5,599 14 5,613 Commercial mortgage-backed — 570 1 571 Total fixed maturities, AFS — 17,786 193 17,979 Other equity investments — 17 — 17 Other invested assets: Swaps — (8) — (8) Options — 2,523 — 2,523 Total other invested assets — 2,515 — 2,515 Cash equivalents 2,227 — — 2,227 Funds withheld receivable (3) (5) — — 361 361 Purchased market risk benefits — — 7 7 Assets for market risk benefits — — 39 39 Separate Accounts assets (4) 8,319 7 — 8,326 Total Assets $ 10,546 $ 20,325 $ 600 $ 31,471 Liabilities: Policyholders’ account balances: SCS, MSO and IUL indexed features’ liability — 13,198 — 13,198 Modco receivable (5) — — (1,012) (1,012) Liabilities for market risk benefits — — 6,595 6,595 Total Liabilities $ — $ 13,198 $ 5,583 $ 18,781 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (3) As discussed in Note 2, the funds withheld receivable was created through a funds withheld and modified coinsurance agreement where the investments supporting the reinsurance agreement are withheld by and continue to reside on Equitable Financial’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Equitable Financial, which are primarily available for sale securities. (4) Separate Accounts assets included in the fair value hierarchy exclude investments not fair valued including other assets of $1 million. (5) The embedded derivative is partially reflected in funds withheld receivable and policyholders’ account balance. The portion within Policyholders’ account balances relates to the non-insulated products assumed on a modified coinsurance basis and is reflected net of assumed liabilities on the balance sheet. Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 5,575 $ 87 $ 5,662 U.S. Treasury, government and agency — 15 — 15 States and political subdivisions — 43 — 43 Foreign governments — 31 — 31 Residential mortgage-backed — 972 — 972 Asset-backed (2) — 2,962 24 2,986 Commercial mortgage-backed — 181 1 182 Total fixed maturities, AFS — 9,779 112 9,891 Other equity investments — 19 — 19 Other invested assets: Options — 968 — 968 Total other invested assets — 968 — 968 Cash equivalents 1,654 — — 1,654 Funds withheld receivable (3) (5) — — 100 100 Purchased market risk benefits — — 9 9 Assets for market risk benefits — — 24 24 Separate Accounts assets (4) 5,747 7 — 5,754 Total Assets $ 7,401 $ 10,773 $ 245 $ 18,419 Liabilities: Policyholders’ account balances: SCS, SIO, MSO and IUL indexed features’ liability — 8,804 — 8,804 Modco receivable (5) — — (411) (411) Liabilities for market risk benefits — — 7,333 7,333 Total Liabilities $ — $ 8,804 $ 6,922 $ 15,726 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (3) The funds withheld receivable was created through a funds withheld and modified coinsurance agreement where the investments supporting the reinsurance agreement are withheld by and continue to reside on Equitable Financial’s consolidated balance sheet. This embedded derivative is valued as a total return swap with references to the fair value of the invested assets held by the Equitable Financial, which are primarily available for sale securities. (4) Separate Accounts assets included in the fair value hierarchy exclude investments not fair valued including other assets of $1 million. (5)
Schedule of Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses). Not included below are the changes in balances related to market risk benefits and purchased market risk benefits level 3 assets and liabilities, which are included in Note 8 of the Notes to these Consolidated Financial Statements. Level 3 Instruments - Fair Value Measurements Three Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 197 $ 30 $ 1 $ (87) $ (183) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 1 — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) 1 — — — — Three Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Other comprehensive income (loss) 3 — — — — Purchases 168 (15) — — — Sales (191) (1) — — — Change in fair value of funds withheld assets — — — 448 (829) Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 178 $ 14 $ 1 $ 361 $ (1,012) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ — $ — $ — $ — $ — _______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Three Months Ended September 30, 2023 Corporate RMBS CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 61 $ — $ — $ (136) $ 166 Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) — — — — — Other comprehensive income (loss) (1) (1) — — — Purchases 42 40 11 — — Sales (8) — — — — Change in fair value of funds withheld assets — — — (431) 657 Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 94 $ 39 $ 11 $ (567) $ 823 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ (1) $ (1) $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Level 3 Instruments - Fair Value Measurements Nine Months Ended September 30, 2024 Corporate Asset-backed CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 87 $ 24 $ 1 $ 100 $ (411) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income 1 — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) 1 — — — — Other comprehensive income (loss) 4 — — — — Purchases 317 14 — — — Sales (231) (24) — — — Change in fair value of funds withheld assets — — — 261 (601) Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) — — — — — Balance, end of period $ 178 $ 14 $ 1 $ 361 $ (1,012) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ 3 $ — $ — $ — $ — _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. Nine Months Ended September 30, 2023 Corporate RMBS CMBS Funds Withheld Receivable Modco Receivable (in millions) Balance, beginning of period $ 18 $ — $ — $ — $ — Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) (1) — — — — — Total realized and unrealized gains (losses) — — — — — Other comprehensive income (loss) (1) (1) — — — Purchases 95 40 11 — — Sales (8) — — — — Change in fair value of funds withheld assets — — — (567) 823 Transfers into Level 3 (1) — — — — — Transfers out of Level 3 (1) (10) — — — — Balance, end of period $ 94 $ 39 $ 11 $ (567) $ 823 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period $ — $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period. $ (1) $ (1) $ — $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values.
Schedule of Quantitative Information About Level 3 Fair Value Measurement	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities: Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2024 Fair Valuation Technique Significant Range Weighted Average (Dollars in millions) Assets:(5) Investments: Fixed maturities, AFS: Corporate $ 72 Matrix pricing model Spread over benchmark 20 bps - 120 bps 84 bps — Market comparable companies EBITDA multiples Discount Rate Cashflow Multiples Loan to Value 0.0x - 0.0x 0.0% - —% 0.0x - 0.0x 0.0% - —% 0.0x 0.0% 0.0x 0.00% Other equity investments — Discounted Cash Flow Earnings Multiple 0.0x - 0.0x 0.0x Purchased MRB asset (1) (2) (4) 7 Discounted cash flow Lapse rates Withdrawal rates Annuitization rates Non-performance risk (bps) Mortality: Ages 0-40 Ages 41-60 Ages 61-115 N/A N/A Liabilities: Direct MRB (1) (2) (3) (4) $ 6,556 Discounted cash flow Non-performance risk (bps) Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 20 bps - 110 bps 0.24% - 36.18% 0.00% - 11.65% 0.04% - 100.00% 0.01% - 0.17% 0.06% - 0.52% 0.32% - 41.20% 20 bps 3.59% 0.77% 4.79% 2.95% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. GMIB utilization rates were developed as a function of the GMIB benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $6.6 billion of MRB liabilities and $39 million of MRB asset. (4) Includes Core products. (5) Funds withheld and modco receivable that contain embedded derivatives held at fair value are excluded from the tables above. The funds withheld receivable embedded derivative utilizes a total return swap technique which incorporates the fair value of the invested assets supporting the reinsurance agreement as a component of the valuation. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2023 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (Dollars in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 39 Matrix pricing model Spread over benchmark 95 bps - 120 bps 118 bps Purchased MRB asset (1) (2) (4) 9 Discounted cash flow Lapse rates Withdrawal rates Annuitization Non-performance risk (bps) Mortality: Ages 0-40 Ages 41-60 Ages 61-115 N/A N/A Liabilities: Direct MRB (1) (2) (3) (4) $ 7,309 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 23 bps - 118 bps 0.21% - 29.37% 0.00% - 14.97% 0.04% - 100.00% 0.01% - 0.18% 0.07% - 0.53% 0.33% - 42.00% 23 bps 3.99% 0.67% 3.04% 2.62% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. GMIB utilization rates were developed as a function of the GMIB benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $7.3 billion of MRB liabilities and $24 million of MRB assets. (4) Includes Core products.
Schedule of Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values for financial instruments not otherwise disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements were as follows. Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Value Fair Value Level 1 Level 2 Level 3 Total (in millions) September 30, 2024: Mortgage loans on real estate $ 1,491 $ — $ — $ 1,517 $ 1,517 Policy loans $ 293 $ — $ — $ 317 $ 317 Funds withheld receivable $ 9,520 $ — $ — $ 9,520 $ 9,520 Modco receivable $ 30,876 $ — $ — $ 30,876 $ 30,876 Policyholders’ liabilities: Investment contracts $ 104 $ — $ — $ 103 $ 103 Separate Accounts liabilities $ 747 $ — $ — $ 747 $ 747 December 31, 2023: Mortgage loans on real estate $ 294 $ — $ — $ 297 $ 297 Policy loans $ 268 $ — $ — $ 275 $ 275 Funds withheld receivable $ 10,503 $ — $ — $ 10,503 $ 10,503 Modco receivable $ 29,912 $ — $ — $ 29,912 $ 29,912 Policyholders’ liabilities: Investment contracts $ 110 $ — $ — $ 108 $ 108 Separate Accounts liabilities $ 372 $ — $ — $ 372 $ 372

LIABILITIES FOR FUTURE POLICY_2

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Schedule of Policyholder Account Balance and Liability for Unpaid Claims and Claims Adjustment Expense	The following tables reconcile the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Reconciliation Payout $ 736 $ 368 UL (1) 360 344 Other (2) 339 337 Subtotal 1,435 1,049 Other policy funds (3) 695 604 Grand total $ 2,130 $ 1,653 ______________ (1) Represents the SOP NLG Rider on UL contracts assumed from Equitable Financial. (2) Primarily future policy benefits related to Protective Life & Annuity and Employee Benefits. (3) Includes $485 million of URL of which $481 million is covered in Note 5 of the Notes to these Consolidated Financial Statements.
Schedule of Policyholder Account Balance	The following tables summarize balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts. The payout annuities result from annuitization of current contracts. Inflows are the liquidation of the account values not premiums: Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 368 $ — Beginning balance of original discount rate 361 — Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience — — Adjusted beginning of period balance 361 — Issuances 368 251 Interest accrual 13 — Benefits payments (27) — Ending balance at original discount rate 715 251 Effect of changes in discount rate assumptions 21 (11) Balance, end of period $ 736 $ 240 Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Net liability for future policy benefits $ 736 $ 241 Less: Reinsurance recoverable — — Net liability for future policy benefits, after reinsurance recoverable $ 736 $ 241 Weighted-average duration of liability for future policyholder benefits (years) 7.5 7.5 The following tables reconcile the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 1,175 $ 1,186 IUL 2,505 2,431 EI 1,771 1,964 EG 6,436 6,619 SCS 50,533 40,353 Other (1) (28,258) (27,590) Total $ 34,162 $ 24,963 ______________ (1) Includes $(31.9) billion and $(30.3) billion as of September 30, 2024 and December 31, 2023, respectively, of assumed fair value of the modco reinsurance with Equitable Financial. The following tables summarize the balances and changes in policyholders’ account balances: Nine Months Ended September 30, 2024 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ 1,186 $ 2,431 $ 1,964 $ 6,619 40,353 Issuances — — — — — Premiums received 343 174 8 235 2 Policy charges (358) (145) — (3) (15) Surrenders and withdrawals (12) (76) (215) (686) (2,451) Benefit payments (13) (11) (13) (14) (190) Net transfers from (to) separate account — — (13) 135 7,630 Interest credited (2) 29 132 40 150 5,204 Balance, end of period $ 1,175 $ 2,505 $ 1,771 $ 6,436 $ 50,533 Weighted-average crediting rate 3.65% 2.55% 2.89% 2.36% 0.01% Net amount at risk (3) $ 15,126 $ 18,635 $ 90 $ 5 $ — Cash surrender value $ 1,035 $ 1,920 $ 1,768 $ 6,390 $ 47,964 ______________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. Nine Months Ended September 30, 2023 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ — $ 1,962 $ — $ — $ 242 Issuances 1,208 349 2,213 6,817 31,189 Premiums received 241 180 5 173 — Policy charges (254) (143) — (2) (5) Surrenders and withdrawals (9) (46) (144) (451) (1,203) Benefit payments (12) (8) (16) (12) (120) Net transfers from (to) separate account — — (17) 79 4,946 Interest credited (2) 18 92 31 93 1,474 Other — — — — — Balance, end of period $ 1,192 $ 2,386 $ 2,072 $ 6,697 $ 36,523 Weighted-average crediting rate 3.42% 2.39% 2.88% 2.31% —% Net amount at risk (3) $ 16,308 $ 19,322 $ 115 $ 38 $ 30 Cash surrender value $ 1,039 $ 1,825 $ 2,067 $ 6,650 $ 33,064 ___________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. Separate Account - Summary The following tables reconcile the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 2,570 $ 2,128 GMxB Core 3,702 2,166 IE 534 226 Reinsured 1,104 1,022 Other 417 212 Total $ 8,327 $ 5,754 The following tables present the balances of and changes in Separate Account liabilities: Nine Months Ended September 30, 2024 VUL GMxB Core IE Reinsured (2) (in millions) Balance, beginning of period $ 2,128 $ 2,166 $ 226 $ 1,022 Premiums and deposits 323 1,148 1,066 15 Policy charges (110) (22) — (24) Surrenders and withdrawals (38) (57) (14) (61) Benefit payments (8) (9) — (17) Investment performance (1) 319 147 (784) — Net transfers from (to) general account (44) 329 40 169 Other charges — — — — Balance, end of period $ 2,570 $ 3,702 $ 534 $ 1,104 Cash surrender value $ 2,228 $ 3,454 $ 510 $ — __ _____________ (1) Investment performance is reflected net of mortality and expense fees. (2) Reinsured primarily reflects Protective Life reinsured ceded business. Nine Months Ended September 30, 2023 VUL GMxB Core IE Reinsured (1) (in millions) Balance, beginning of period $ 1,653 $ 756 $ 26 $ 913 Premiums and deposits 284 790 387 15 Policy charges (98) (8) — (25) Surrenders and withdrawals (36) (21) (4) (49) Benefit payments (9) (4) — (4) Investment performance (2) 117 20 1 — Net transfers from (to) general account (32) 110 (245) 103 Other charges — — — — Balance, end of period $ 1,879 $ 1,643 $ 165 $ 953 Cash surrender value $ 1,551 $ 1,516 $ 157 $ — __ ____________ (1) Reinsured primarily reflects Protective Life reinsured ceded business. (2) Investment performance is reflected net of mortality and expense fees.
Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses	The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts: September 30, 2024 December 31, 2023 (in millions) Payout Expected future benefit payments and expenses (undiscounted) $ 1,073 $ 541 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted) 730 364 Expected future gross premiums (discounted) — —
Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion	The following table provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities : Nine Months Ended September 30, 2024 2023 2024 2023 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Payout (1) $ 119 $ 81 $ 23 $ 3 Total $ 119 $ 81 $ 23 $ 3 ______________ (1) Gross premium reflected is the liquidation of Account Value at time of annuitization.
Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates	The following table provides the weighted average interest rates for the liability for future policy benefits: September 30, 2024 December 31, 2023 Weighted Average Interest Rate Payout Interest accretion rate 5.1 % 5.3 % Current discount rate 4.7 % 5.0 % Nine Months Ended September 30, 2024 2023 Universal Life Weighted Average Interest Rate UL 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 %
Schedule of Balances of and Changes in Additional Liabilities Related to Insurance Guarantees	The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities: Nine Months Ended September 30, 2024 2023 UL (in millions) Balance, beginning of period $ 344 $ — Beginning balance before AOCI adjustments 344 — Effect of changes in interest rate and cash flow assumptions and model changes 2 6 Effect of actual variances from expected experience (3) 3 Adjusted beginning of period balance 343 9 Issuances — 322 Interest accrual 11 4 Net assessments collected 15 1 Benefit payments (9) (2) Ending balance before shadow reserve adjustments 360 333 Effect of shadow reserve adjustment — — Balance, end of period $ 360 $ 333 Net liability for additional liability $ 360 $ 333 Effect of reserve adjustment recorded in AOCI — — Net liability for additional liability, after reinsurance recoverable $ 360 $ 333 Weighted-average duration of additional liability - death benefit (years) 16.9 17.2 The following tables provide the revenue, interest and weighted average interest rates, related to the additional insurance liabilities: Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 Assessments Interest Accretion Assessments Interest Accretion (in millions) Revenue and Interest Accretion UL $ 419 $ 11 $ 395 $ 7 Total $ 419 $ 11 $ 395 $ 7

MARKET RISK BENEFITS (Tables)

MARKET RISK BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2024
Market Risk Benefit [Abstract]
Schedule of Market Risk Benefit, Activity	The following table presents the balances and changes to the balances for the market risk benefits for the GMxB benefits on deferred variable annuities: Three Months Ended September 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (Dollars in millions) Balance, beginning of period $ 917 $ 5,266 $ 1,064 $ 6,226 Balance BOP before changes in the instrument specific credit risk 667 4,898 1,073 6,232 Model changes and effect of changes in cash flow assumptions 76 (47) 54 (44) Actual market movement effect (181) (245) 216 291 Interest accrual 7 52 13 76 Attributed fees accrued (1) 89 82 90 87 Benefit payments (9) (120) (11) (127) Actual policyholder behavior different from expected behavior 5 (11) 7 (5) Changes in future economic assumptions 194 458 (541) (1,080) Issuances (1) — — — Balance EOP before changes in the instrument-specific credit risk 847 5,067 901 5,430 Changes in the instrument-specific credit risk (2) 252 379 123 190 Balance, end of period $ 1,099 $ 5,446 $ 1,024 $ 5,620 Weighted-average age of policyholders (years) 65.4 74.2 64.5 73.6 Net amount at risk $ 2,592 $ 8,963 $ 3,487 $ 10,957 _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. Nine Months Ended September 30, 2024 2023 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (Dollars in millions) Balance, beginning of period $ 1,191 $ 6,082 $ (6) $ — Balance BOP before changes in the instrument specific credit risk 934 5,695 (5) — Model changes and effect of changes in cash flow assumptions 76 (47) 54 (44) Actual market movement effect (332) (559) 103 30 Interest accrual 24 165 22 144 Attributed fees accrued (1) 274 245 192 182 Benefit payments (30) (407) (23) (280) Actual policyholder behavior different from expected behavior 13 (18) 15 (9) Changes in future economic assumptions (109) (170) (762) (1,435) Issuances (2) (3) 163 1,305 6,842 Balance EOP before changes in the instrument-specific credit risk 847 5,067 901 5,430 Changes in the instrument-specific credit risk (3) 252 379 123 190 Balance, end of period $ 1,099 $ 5,446 $ 1,024 $ 5,620 Weighted-average age of policyholders (years) 65.4 74.2 64.5 73.6 Net amount at risk $ 2,592 $ 8,963 $ 3,487 $ 10,957 _______________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Issuances in 2023 are related to the Reinsurance Treaty with Equitable Financial. During the first quarter of 2024, Equitable Financial completed a non-affiliated recapture of reinsurance. The Company assumed MRBs related to the policies recaptured. (3) Changes are recorded in OCI. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk benefit amounts in the consolidated balance sheets: September 30, 2024 December 31, 2023 MRB Asset MRB Liability Net MRB Purchased MRB Total MRB Asset MRB Liability Net MRB Purchased MRB Total (in millions) GMxB Core $ (26) $ 1,125 $ 1,099 $ — $ 1,099 $ (14) $ 1,205 $ 1,191 $ — $ 1,191 GMxB Legacy — 5,446 5,446 — 5,446 — 6,082 6,082 — 6,082 Other (13) 24 11 (7) 4 (10) 46 36 (9) 27 Total $ (39) $ 6,595 $ 6,556 $ (7) $ 6,549 $ (24) $ 7,333 $ 7,309 $ (9) $ 7,300

POLICYHOLDER ACCOUNT BALANCES (

POLICYHOLDER ACCOUNT BALANCES (Tables)	9 Months Ended
	Sep. 30, 2024
Policyholder Account Balance [Abstract]
Schedule of Policyholder Account Balance	The following tables summarize balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts. The payout annuities result from annuitization of current contracts. Inflows are the liquidation of the account values not premiums: Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of period $ 368 $ — Beginning balance of original discount rate 361 — Effect of changes in cash flow assumptions — — Effect of actual variances from expected experience — — Adjusted beginning of period balance 361 — Issuances 368 251 Interest accrual 13 — Benefits payments (27) — Ending balance at original discount rate 715 251 Effect of changes in discount rate assumptions 21 (11) Balance, end of period $ 736 $ 240 Nine Months Ended September 30, Payout 2024 2023 (Dollars in millions) Net liability for future policy benefits $ 736 $ 241 Less: Reinsurance recoverable — — Net liability for future policy benefits, after reinsurance recoverable $ 736 $ 241 Weighted-average duration of liability for future policyholder benefits (years) 7.5 7.5 The following tables reconcile the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Policyholders’ account balance reconciliation UL $ 1,175 $ 1,186 IUL 2,505 2,431 EI 1,771 1,964 EG 6,436 6,619 SCS 50,533 40,353 Other (1) (28,258) (27,590) Total $ 34,162 $ 24,963 ______________ (1) Includes $(31.9) billion and $(30.3) billion as of September 30, 2024 and December 31, 2023, respectively, of assumed fair value of the modco reinsurance with Equitable Financial. The following tables summarize the balances and changes in policyholders’ account balances: Nine Months Ended September 30, 2024 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ 1,186 $ 2,431 $ 1,964 $ 6,619 40,353 Issuances — — — — — Premiums received 343 174 8 235 2 Policy charges (358) (145) — (3) (15) Surrenders and withdrawals (12) (76) (215) (686) (2,451) Benefit payments (13) (11) (13) (14) (190) Net transfers from (to) separate account — — (13) 135 7,630 Interest credited (2) 29 132 40 150 5,204 Balance, end of period $ 1,175 $ 2,505 $ 1,771 $ 6,436 $ 50,533 Weighted-average crediting rate 3.65% 2.55% 2.89% 2.36% 0.01% Net amount at risk (3) $ 15,126 $ 18,635 $ 90 $ 5 $ — Cash surrender value $ 1,035 $ 1,920 $ 1,768 $ 6,390 $ 47,964 ______________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. Nine Months Ended September 30, 2023 UL IUL EI EG SCS (1) (Dollars in millions) Balance, beginning of period $ — $ 1,962 $ — $ — $ 242 Issuances 1,208 349 2,213 6,817 31,189 Premiums received 241 180 5 173 — Policy charges (254) (143) — (2) (5) Surrenders and withdrawals (9) (46) (144) (451) (1,203) Benefit payments (12) (8) (16) (12) (120) Net transfers from (to) separate account — — (17) 79 4,946 Interest credited (2) 18 92 31 93 1,474 Other — — — — — Balance, end of period $ 1,192 $ 2,386 $ 2,072 $ 6,697 $ 36,523 Weighted-average crediting rate 3.42% 2.39% 2.88% 2.31% —% Net amount at risk (3) $ 16,308 $ 19,322 $ 115 $ 38 $ 30 Cash surrender value $ 1,039 $ 1,825 $ 2,067 $ 6,650 $ 33,064 ___________ (1) SCS sales are recorded in a Separate Account holding account until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS includes amounts related to the change in embedded derivative. (3) For life insurance products, the net amount at risk is death benefit less account value for the policyholder. For variable annuity products, the net amount at risk is the maximum GMxB NAR for the policyholder. Separate Account - Summary The following tables reconcile the Separate Account liabilities to the Separate Account liability balance in the consolidated balance sheets: September 30, 2024 December 31, 2023 (in millions) Separate Account Reconciliation VUL $ 2,570 $ 2,128 GMxB Core 3,702 2,166 IE 534 226 Reinsured 1,104 1,022 Other 417 212 Total $ 8,327 $ 5,754 The following tables present the balances of and changes in Separate Account liabilities: Nine Months Ended September 30, 2024 VUL GMxB Core IE Reinsured (2) (in millions) Balance, beginning of period $ 2,128 $ 2,166 $ 226 $ 1,022 Premiums and deposits 323 1,148 1,066 15 Policy charges (110) (22) — (24) Surrenders and withdrawals (38) (57) (14) (61) Benefit payments (8) (9) — (17) Investment performance (1) 319 147 (784) — Net transfers from (to) general account (44) 329 40 169 Other charges — — — — Balance, end of period $ 2,570 $ 3,702 $ 534 $ 1,104 Cash surrender value $ 2,228 $ 3,454 $ 510 $ — __ _____________ (1) Investment performance is reflected net of mortality and expense fees. (2) Reinsured primarily reflects Protective Life reinsured ceded business. Nine Months Ended September 30, 2023 VUL GMxB Core IE Reinsured (1) (in millions) Balance, beginning of period $ 1,653 $ 756 $ 26 $ 913 Premiums and deposits 284 790 387 15 Policy charges (98) (8) — (25) Surrenders and withdrawals (36) (21) (4) (49) Benefit payments (9) (4) — (4) Investment performance (2) 117 20 1 — Net transfers from (to) general account (32) 110 (245) 103 Other charges — — — — Balance, end of period $ 1,879 $ 1,643 $ 165 $ 953 Cash surrender value $ 1,551 $ 1,516 $ 157 $ — __ ____________ (1) Reinsured primarily reflects Protective Life reinsured ceded business. (2) Investment performance is reflected net of mortality and expense fees.
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following table presents the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums: September 30, 2024 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 9 41 200 448 698 Greater than 2.50% — 476 — — 476 Total $ 9 $ 517 $ 200 $ 448 $ 1,174 Indexed Universal Life 0.00% - 1.50% — — — — — 1.51% - 2.50% 659 564 1,155 — 2,378 Greater than 2.50% — — — — — Total $ 659 $ 564 $ 1,155 $ — $ 2,378 EQUI-VEST Individual 0.00% - 1.50% 42 191 — — 233 1.51% - 2.50% 38 — — — 38 Greater than 2.50% 1,500 — — — 1,500 Total $ 1,580 $ 191 $ — $ — $ 1,771 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A EQUI-VEST Group 0.00% - 1.50% 450 2,054 21 234 2,759 1.51% - 2.50% 272 — — — 272 Greater than 2.50% 2,424 — — — 2,424 Total $ 3,146 $ 2,054 $ 21 $ 234 $ 5,455 December 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point-50 Basis Points Above 51 Basis Points-150 Basis Points Above Greater Than 150 Basis Points Above Total (in millions) Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 47 9 339 298 693 Greater than 2.50% — 492 — — 492 Total $ 47 $ 501 $ 339 $ 298 $ 1,185 Indexed Universal Life 0.00% - 1.50% $ — $ — $ — $ — $ — 1.51% - 2.50% 1,112 218 1,001 — 2,331 Greater than 2.50% — — — — — Total $ 1,112 $ 218 $ 1,001 $ — $ 2,331 EQUI-VEST Individual 0.00% - 1.50% $ 47 $ 205 $ — $ — $ 252 1.51% - 2.50% 42 — — — 42 Greater than 2.50% 1,670 — — — 1,670 Total $ 1,759 $ 205 $ — $ — $ 1,964 SCS Products with either a fixed rate or no guaranteed minimum N/A N/A N/A N/A N/A EQUI-VEST Group 0.00% - 1.50% $ 488 $ 2,020 $ 11 $ 277 $ 2,796 1.51% - 1.51% 269 — — — 269 Greater than 2.50% 2,642 — — — 2,642 Total $ 3,399 $ 2,020 $ 11 $ 277 $ 5,707
Schedule of Investment in Variable Insurance Trust Mutual Funds	The following tables present the aggregate fair value of Separate Account assets by major asset category: September 30, 2024 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Employer - Sponsored Products Other Total (in millions) Asset Type Mutual Funds $ 3,141 $ 5,157 $ 17 $ 12 $ 8,327 Total $ 3,141 $ 5,157 $ 17 $ 12 $ 8,327 December 31, 2023 Life Insurance & Employee Benefits Products Individual Variable Annuity Products Other Total (in millions) Asset Type Mutual Funds $ 2,642 $ 3,100 $ 12 $ 5,754 Total $ 2,642 $ 3,100 $ 12 $ 5,754

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances were as follows: September 30, 2024 December 31, 2023 (in millions) Unrealized gains (losses) on investments $ 216 $ (51) Market risk benefits - instrument-specific credit risk component (636) (649) Liability or future policy benefits - current discount rate component 7 6 Defined benefit pension plans — — Accumulated other comprehensive income (loss) $ (413) $ (694)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 385 $ (158) $ 271 $ (137) (Gains) losses reclassified into net income (loss) during the period (1) — — — 4 Net unrealized gains (losses) on investments 385 (158) 271 (133) Adjustments for policyholders’ liabilities, insurance liability loss recognition and other (3) 4 (2) 3 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $89, $(42), $66 and $(54)) 382 (154) 269 (130) Change in LFPB discount rate and MRB credit risk Change in market risk benefits - instrument-specific credit risk (net of deferred income tax expense (benefit) of $(2), $(70), $3 and $(67)) (9) (262) 11 (251) Changes in liability for future policy benefits - current discount rate (net of deferred income tax expense (benefit) of $(7), $3, $0 and $3) (27) 11 1 12 Other comprehensive income (loss) $ 346 $ (405) $ 281 $ (369) ______________ (1) See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $0 million for both the three and nine months ended September 30, 2024 and $(2) million and $(1) million for the three and nine months ended September 30, 2023, respectively.

UNPAID CLAIM AND CLAIM EXPENS_2

UNPAID CLAIM AND CLAIM EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2024
Insurance [Abstract]
Schedules of Liability for Unpaid Claims and Claims Adjustment Expense	The following summarizes the change in liability for unpaid claims and claim expenses: Liability for Unpaid Claims and Claim Expenses Nine Months Ended September 30, 2024 2023 (in millions) Gross Balance, beginning of period $ 141 $ 110 Less Reinsurance 48 36 Net Balance, beginning of period 93 74 Incurred Claims (net) Related to: Current Period 211 178 Prior Period (14) (15) Total Incurred 197 163 Paid Claims (net) Related to: Current Period 130 113 Prior Period 49 37 Total Paid 179 150 Net Balance, end of period 112 87 Add Reinsurance 47 44 Gross Balance, end of period $ 159 $ 131

REINSURANCE (Tables)

REINSURANCE (Tables)	9 Months Ended
	Sep. 30, 2024
Reinsurance Disclosures [Abstract]
Schedule of Effect of Reinsurance	The following table summarizes the effect of reinsurance: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (in millions) Direct charges and fee income $ 117 $ 100 $ 335 $ 278 Reinsurance assumed - Equitable Financial 349 341 1,028 685 Reinsurance ceded (30) (30) (89) (81) Policy charges and fee income $ 436 $ 411 $ 1,274 $ 882 Direct premiums $ 106 $ 87 $ 313 $ 259 Assumed premiums 11 — 34 — Reinsurance assumed - Equitable Financial 49 59 129 118 Reinsurance ceded (12) (14) (41) (44) Premiums $ 154 $ 132 $ 435 $ 333 Direct policyholders’ benefits $ 113 $ 119 $ 381 $ 337 Assumed policyholders’ benefits 20 — 40 — Reinsurance assumed - Equitable Financial 159 163 528 361 Reinsurance ceded (21) (21) (78) (80) Policyholders’ benefits $ 271 $ 261 $ 871 $ 618 Direct interest credited to policyholders’ account balances $ 179 $ 84 $ 443 $ 158 Reinsurance assumed - Equitable Financial 168 155 474 306 Reinsurance ceded (9) (8) (24) (25) Interest credited to policyholders’ account balances $ 338 $ 231 $ 893 $ 439
Summary of Composition of Pool of Assets	The following table summarizes the composition of the pool of assets: September 30, 2024 December 31, 2023 Carrying Value Fair Value Carrying Value Fair Value (in millions) Fixed maturities $ 23,530 $ 23,530 $ 24,725 $ 24,725 Mortgage loans on real estate 7,889 7,184 8,405 7,409 Policy loans 272 274 248 250 Other equity investments 190 190 238 238 Other invested assets (1) 11,022 11,022 8,256 8,257 Total assets supporting funds withheld $ 42,903 $ 42,200 $ 41,872 $ 40,879 ______________ (1) Other invested assets includes derivatives and cash and cash equivalents.

REVISION OF PREVIOUSLY ISSUED_2

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Schedule of Prior Period Financial Statements Affected by Revision	The following tables present line items for the previously issued September 30, 2023 interim financial statements that have been affected by the revision. For these line items, the tables detail the amounts as previously reported, the impact of the errors, and the amounts as revised. The following interim financial statements are unaudited. September 30, 2023 As Previously Adjustments As Revised (unaudited) (in millions) Balance Sheets Funds withheld receivable $ 10,550 $ 127 $ 10,677 Reinsurance deposit assets 12,682 (19) 12,663 Current and deferred income taxes 131 (4) 127 Assets for market risk benefits 24 (2) 22 Total Assets 39,861 102 39,963 Liability for market risk benefits 6,731 (19) 6,712 Future policy benefits and other policyholders’ liabilities 1,352 98 1,450 Other liabilities 2,137 6 2,143 Total Liabilities 38,371 85 38,456 Retained earnings (accumulated deficit) 373 (1) 372 Accumulated other comprehensive income (loss) (768) 18 (750) Total Equity 1,490 17 1,507 Total Liabilities and Equity $ 39,861 $ 102 $ 39,963 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Income (Loss) Policy charges and fee income $ 410 $ 1 $ 411 $ 882 $ — $ 882 Premiums 152 (20) 132 333 — 333 Net derivative gains (losses) (340) 4 (336) (1,034) 5 (1,029) Investment management and service fees 143 (17) 126 253 — 253 Total revenues 502 (32) 470 695 5 700 Benefits and other deductions Policyholders' benefits 244 17 261 658 (40) 618 Remeasurement of liability for future policy benefits 10 13 23 10 11 21 Change in market risk benefits and purchased market risk benefits (980) (12) (992) (1,842) 12 (1,830) Commissions 100 (1) 99 221 (2) 219 Amortization of reinsurance deposit assets — 93 93 — 241 241 Other operating costs and expenses 210 (104) 106 455 (218) 237 Total benefits and deductions (148) 6 (142) 34 4 38 Income (loss) from continuing operations, before income taxes 650 (38) 612 661 1 662 Income tax (expense) benefit from continuing operations (134) 3 (131) (68) — (68) Net income (loss) from continuing operations 516 (35) 481 593 1 594 Net income (loss) $ 516 $ (35) $ 481 $ 593 $ 1 $ 594 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Comprehensive Income (Loss) Net income (loss) $ 516 $ (35) $ 481 $ 593 $ 1 $ 594 Changes in market risk benefits - instrument-specific credit risk (280) 18 (262) (268) 17 (251) Other comprehensive income (423) 18 (405) (386) 17 (369) Comprehensive income (loss) $ 93 $ (17) $ 76 $ 207 $ 18 $ 225 Three Months Ended Nine Months Ended As Previously Adjustments As Revised As Previously Adjustments As Revised (unaudited) (in millions) Statements of Equity Accumulated Deficit, beginning of year $ (143) $ 34 $ (109) $ (220) $ (2) $ (222) Net income (loss) 516 (35) 481 593 1 594 Accumulated Deficit, end of year 373 (1) 372 373 (1) 372 Accumulated other comprehensive income (loss), beginning of year (345) — (345) (382) 1 (381) Other comprehensive income (loss) (423) 18 (405) (386) 17 (369) Accumulated other comprehensive income (loss), end of year (768) 18 (750) (768) 18 (750) Total equity, end of year $ 1,490 $ 17 $ 1,507 $ 1,490 $ 17 $ 1,507 Nine Months Ended September 30, 2023 As Previously Reported Adjustments As Revised (unaudited) (in millions) Statement of Cash Flows Cash flow from operating activities Net income (loss) $ 593 $ 1 $ 594 Net derivative (gains) losses 1,034 (5) 1,029 Remeasurement of liability for future policy benefits\ 10 11 21 Change in market risk benefits (1,842) 12 (1,830) Future policy benefits 264 101 365 Funds withheld receivable (87) (132) (219) Other, net 972 12 984 Net cash provided by (used in) operating activities $ 452 $ — $ 452

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Variable Interest Entity [Line Items]
Assets	$ 56,268	$ 39,963	$ 56,268	$ 39,963	$ 44,196
Investments	20,503		20,503		10,823
Increase (decrease) in remeasurement of liability for future policy benefits	14	(23)	24	(21)
Increase (decrease) policyholders' benefits	271	261	871	618
Increase (decrease) in other operating costs and expenses	94	106	283	237
Increase (decrease) in income (loss) from continuing operation, before income taxes	540	$ 612	593	662
Long-term Lapses Partial Withdrawal Rates and Election Assumptions Updates
Variable Interest Entity [Line Items]
Increase (decrease) in remeasurement of liability for future policy benefits			(9)	1
Increase (decrease) policyholders' benefits			(6)	(1)
Increase (decrease) in market risk benefits and purchased mark risk benefits			12	(8)
Increase (decrease) in other operating costs and expenses			(17)	(42)
Increase (decrease) in income (loss) from continuing operation, before income taxes			20	50
Increase (decrease) in net income (loss)			16	$ 40
Consolidated Limited Partnerships
Variable Interest Entity [Line Items]
Assets	669		669		0
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets	95		95		0
Investments	21		21		0
Variable interest, maximum loss exposure	21		21		0
Unfunded commitments	$ 260		$ 260		$ 147

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) issue	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) issue	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) issue
Net Investment Income [Line Items]
Number of unrealized loss issues | issue	771		771		891
Debt securities exposure in single issuer greater than stated percentage of total investments	1.10%		1.10%
Amortized cost of fixed maturities available-for-sale	$ 17,801,000,000		$ 17,801,000,000		$ 10,050,000,000
Unrealized loss on available for sale securities	0		0		0
Gross unrealized losses	253,000,000		253,000,000		295,000,000
Loaned securities	$ 17,000,000		$ 17,000,000		23,000,000
Minimum requirement percentage of the fair value of the loaned securities to be held as cash collateral	102%		102%
Cash collateral	$ 18,000,000		$ 18,000,000		23,000,000
Financing receivable, allowance for credit loss, excluding accrued interest	7,000,000	$ 0	7,000,000	$ 0	2,000,000
Separate account equity investment carrying value	1,000,000		1,000,000		1,000,000
Fair Value, Recurring
Net Investment Income [Line Items]
Trading securities	0		0		0
Commercial And Residential Mortgage Loans
Net Investment Income [Line Items]
Accrued investment income receivable	8,000,000		8,000,000		1,000,000
Accrued interest, written off	0	0	0	0
Individually Assessed Mortgage Loans
Net Investment Income [Line Items]
Mortgage loans foreclosure probable	0		0		0
Financing receivable, allowance for credit loss, excluding accrued interest	0		0		0
Mortgage Loans
Net Investment Income [Line Items]
Non-accruing loans, amortized cost	0		0		0
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable	139,000,000		139,000,000		78,000,000
Accrued interest written off	0	$ 0	0	$ 0
Amortized cost of fixed maturities available-for-sale	17,800,000,000		17,800,000,000		10,100,000,000
Fixed maturities | External Credit Rating, Non Investment Grade
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost	$ 67,000,000		$ 67,000,000		$ 92,000,000
Percentage of available for sale securities	0.40%		0.40%		0.90%
Corporate
Net Investment Income [Line Items]
Debt securities exposure in single issuer of total investments	$ 103,000,000		$ 103,000,000		$ 82,000,000
Debt securities exposure in single issuer of total investments, percent	4.20%		4.20%		3.80%
Amortized cost of fixed maturities available-for-sale	$ 9,392,000,000		$ 9,392,000,000		$ 5,842,000,000
Gross unrealized losses	$ 231,000,000		$ 231,000,000		$ 269,000,000

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 17,801		$ 17,801		$ 10,050
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	434		434		145
Gross Unrealized Losses	256		256		304
Fair Value	17,979		17,979		9,891
Amortized Cost (Less Allowance for Credit Losses)
Due in one year or less	76		76
Due in years two through five	2,261		2,261
Due in years six through ten	5,680		5,680
Due after ten years	1,488		1,488
Subtotal	9,505		9,505
Amortized Cost	17,801		17,801
Fair Value
Due in one year or less	76		76
Due in years two through five	2,307		2,307
Due in years six through ten	5,820		5,820
Due after ten years	1,348		1,348
Subtotal	9,551		9,551
Fair Value	17,979		17,979		9,891
Available-For-Sale Fixed Maturities Proceeds, Gross Gains (Losses) From Sales And Other Than Temporary Impairments [Abstract]
Proceeds from sales	18	$ 183	18	$ 233
Gross gains on sales	0	0	0	0
Gross losses on sales	0	0	0	(5)
Fixed Maturities - Credit Loss Impairments
Balance, beginning of period	0	0	0	0
Previously recognized impairments on securities that matured, paid, prepaid or sold	0	0	0	0
Balance, end of period	0	$ 0	0	$ 0
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,392		9,392		5,842
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	285		285		96
Gross Unrealized Losses	233		233		276
Fair Value	9,444		9,444		5,662
Fair Value
Fair Value	9,444		9,444		5,662
U.S. Treasury, government and agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	15		15		15
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	0		0		0
Gross Unrealized Losses	0		0		0
Fair Value	15		15		15
Fair Value
Fair Value	15		15		15
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	49		49		50
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	0		0		0
Gross Unrealized Losses	7		7		7
Fair Value	42		42		43
Fair Value
Fair Value	42		42		43
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	49		49		31
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	1		1		1
Gross Unrealized Losses	0		0		1
Fair Value	50		50		31
Fair Value
Fair Value	50		50		31
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,207		2,207		961
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	41		41		15
Gross Unrealized Losses	4		4		4
Fair Value	2,244		2,244		972
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	2,207		2,207
Fair Value
Without single maturity date	2,244		2,244
Fair Value	2,244		2,244		972
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,519		5,519		2,956
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	96		96		32
Gross Unrealized Losses	2		2		2
Fair Value	5,613		5,613		2,986
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	5,519		5,519
Fair Value
Without single maturity date	5,613		5,613
Fair Value	5,613		5,613		2,986
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	570		570		195
Allowance for Credit Losses	0		0		0
Gross Unrealized Gains	11		11		1
Gross Unrealized Losses	10		10		14
Fair Value	571		571		182
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	570		570
Fair Value
Without single maturity date	571		571
Fair Value	$ 571		$ 571		$ 182

INVESTMENTS - Net Unrealized In

INVESTMENTS - Net Unrealized Investment (Details) - Unrealized gains (losses) on investments - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Unrealized Investment Gains Losses All Other | Net Unrealized Gains (Losses) on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (296)	$ (376)	$ (159)	$ (388)
Net investment gains (losses) arising during the period	474	(200)	337	(193)
Included in net income (loss)	0	0	0	5
Excluded from net income (loss)	0	0
Other	0		0	0
Impact of net unrealized investment gains (losses)	0	0	0	0
Ending balance	178	(576)	178	(576)
Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	9	7	8	8
Net investment gains (losses) arising during the period	0	0	0	0
Included in net income (loss)	0	0	0	0
Excluded from net income (loss)	0	0
Other	0		0	0
Impact of net unrealized investment gains (losses)	(2)	5	(1)	4
Ending balance	7	12	7	12
Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(9)	13	(33)	(1)
Net investment gains (losses) arising during the period	0	0	0	0
Included in net income (loss)	0	0	0	0
Excluded from net income (loss)	0	0
Other	10		5	16
Impact of net unrealized investment gains (losses)	(100)	40	(71)	38
Ending balance	(99)	53	(99)	53
Unrealized Investment Gains Losses All Other | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(296)	(356)	(184)	(381)
Net investment gains (losses) arising during the period	474	(200)	337	(193)
Included in net income (loss)	0	0	0	5
Excluded from net income (loss)	0	0
Other	10		5	16
Impact of net unrealized investment gains (losses)	(102)	45	(72)	42
Ending balance	86	(511)	86	(511)
Net unrealized investment gains (losses) excluding credit losses | Net Unrealized Gains (Losses) on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	178	(576)	178	(576)
Net unrealized investment gains (losses) excluding credit losses | Policyholders’ Liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	7	12	7	12
Net unrealized investment gains (losses) excluding credit losses | Deferred Income Tax Asset (Liability)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	(99)	53	(99)	53
Net unrealized investment gains (losses) excluding credit losses | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	86	(511)	86	(511)
Net unrealized investment gains (losses) with credit losses | Net Unrealized Gains (Losses) on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	0	0	0	0
Net unrealized investment gains (losses) with credit losses | Policyholders’ Liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	0	0	0	0
Net unrealized investment gains (losses) with credit losses | Deferred Income Tax Asset (Liability)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	0	0	0	0
Net unrealized investment gains (losses) with credit losses | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Ending balance	$ 0	$ 0	$ 0	$ 0

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	$ 828	$ 934
Less than 12 months, gross unrealized losses	3	9
12 months or longer, fair value	1,871	2,038
12 Months or Longer, gross unrealized Losses	253	295
Total fair value	2,699	2,972
Total gross unrealized losses	256	304
Corporate
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	427	505
Less than 12 months, gross unrealized losses	2	7
12 months or longer, fair value	1,747	1,900
12 Months or Longer, gross unrealized Losses	231	269
Total fair value	2,174	2,405
Total gross unrealized losses	233	276
U.S. Treasury, government and agency
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value		0
Less than 12 months, gross unrealized losses		0
12 months or longer, fair value		8
12 Months or Longer, gross unrealized Losses		0
Total fair value		8
Total gross unrealized losses		0
States and political subdivisions
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0	0
Less than 12 months, gross unrealized losses	0	0
12 months or longer, fair value	33	33
12 Months or Longer, gross unrealized Losses	7	7
Total fair value	33	33
Total gross unrealized losses	7	7
Foreign governments
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	0	7
Less than 12 months, gross unrealized losses	0	1
12 months or longer, fair value	11	4
12 Months or Longer, gross unrealized Losses	0	0
Total fair value	11	11
Total gross unrealized losses	0	1
Residential mortgage-backed
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	201	103
Less than 12 months, gross unrealized losses	1	0
12 months or longer, fair value	10	9
12 Months or Longer, gross unrealized Losses	3	4
Total fair value	211	112
Total gross unrealized losses	4	4
Asset-backed
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	119	290
Less than 12 months, gross unrealized losses	0	1
12 months or longer, fair value	7	23
12 Months or Longer, gross unrealized Losses	2	1
Total fair value	126	313
Total gross unrealized losses	2	2
Commercial mortgage-backed
Available-For-Sale Securities, Continuous Unrealized Loss Position [Line Items]
Less than 12 months, fair value	81	29
Less than 12 months, gross unrealized losses	0	0
12 months or longer, fair value	63	61
12 Months or Longer, gross unrealized Losses	10	14
Total fair value	144	90
Total gross unrealized losses	$ 10	$ 14

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period			$ 2
Balance, end of period	$ 7	$ 0	7	$ 0
Commercial mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	4	0	2	0
Current-period provision for expected credit losses	1	0	3	0
Write-offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Net change in allowance	1	0	3	0
Balance, end of period	5	0	5	0
Residential mortgages:
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	1	0	0	0
Current-period provision for expected credit losses	1	0	2	0
Write-offs charged against the allowance	0	0	0	0
Recoveries of amounts previously written off	0	0	0	0
Net change in allowance	1	0	2	0
Balance, end of period	$ 2	$ 0	$ 2	$ 0

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	$ 1,498	$ 296
Total	1,498	296
Non-accruing Loans	0	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	1,498	296
Commercial:
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	516	279
Fiscal year before current fiscal year	301	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	17	17
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	834	296
Total	834	296
Non-accruing Loans	0	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Commercial: | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial: | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial: | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial: | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial: | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	834	296
Commercial: | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	17	17
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	40	17
Commercial: | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	103	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	103	0
Commercial: | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	87	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	87	0
Commercial: | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	303	221
Fiscal year before current fiscal year	221	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	524	221
Commercial: | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	58
Fiscal year before current fiscal year	80	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	80	58
Commercial: | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Commercial: | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	58
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	17	17
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	17	75
Commercial: | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	516	221
Fiscal year before current fiscal year	301	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	817	221
Commercial: | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Commercial: | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Residential
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	328
Fiscal year before current fiscal year	197
Two years before current fiscal year	73
Three years before current fiscal year	64
Four years before current fiscal year	2
Prior	0
Total	664	0
Total	664	0
Non-accruing Loans	0	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Residential | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Residential | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Residential | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Residential | 90 Days or More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Residential | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	$ 664	$ 0

INVESTMENTS - Amortized Cost of

INVESTMENTS - Amortized Cost of Loans by Credit Quality Indicator and Origination Year (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost Basis by Origination Year
Total	$ 1,498	$ 296
Residential mortgages:
Amortized Cost Basis by Origination Year
Current fiscal year	328
Fiscal year before current fiscal year	197
Two years before current fiscal year	73
Three years before current fiscal year	64
Four years before current fiscal year	2
Prior	0
Total	664	$ 0
Residential mortgages: | Performing
Amortized Cost Basis by Origination Year
Current fiscal year	328
Fiscal year before current fiscal year	197
Two years before current fiscal year	73
Three years before current fiscal year	64
Four years before current fiscal year	2
Prior	0
Total	664
Residential mortgages: | Nonperforming
Amortized Cost Basis by Origination Year
Current fiscal year	0
Fiscal year before current fiscal year	0
Two years before current fiscal year	0
Three years before current fiscal year	0
Four years before current fiscal year	0
Prior	0
Total	$ 0

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 0	$ 0	$ 1	$ (1)
Unrealized and realized gains (losses) on equity securities	$ 0	$ 0	$ 1	$ (1)

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 0	$ (1)	$ (1)	$ (1)
Unrealized and realized gains (losses) on trading securities	0	(1)	(1)	(1)
Net investment income (loss) from trading securities	$ 0	$ (1)	$ (1)	$ (1)

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Investment Income [Line Items]
Gross investment income (loss)	$ 252	$ 100	$ 630	$ 188
Investment expenses	(6)	(1)	(14)	(4)
Net investment income (loss)	246	99	616	184
Fixed maturities
Net Investment Income [Line Items]
Gross investment income (loss)	230	90	555	167
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income (loss)	16	0	33	0
Policy loans
Net Investment Income [Line Items]
Gross investment income (loss)	1	1	4	3
Other equity investments
Net Investment Income [Line Items]
Gross investment income (loss)	0	0	1	0
Trading securities
Net Investment Income [Line Items]
Gross investment income (loss)	0	(1)	(1)	(1)
Other investment income
Net Investment Income [Line Items]
Gross investment income (loss)	$ 5	$ 10	$ 38	$ 19

INVESTMENTS - Investment Gains

INVESTMENTS - Investment Gains (Losses), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Investment Income [Line Items]
Investment gains (losses), net	$ 4	$ 0	$ 1	$ (5)
Fixed maturities
Net Investment Income [Line Items]
Investment gains (losses), net	0	0	0	(5)
Mortgage loans on real estate
Net Investment Income [Line Items]
Investment gains (losses), net	(2)	0	(5)	0
Other
Net Investment Income [Line Items]
Investment gains (losses), net	$ 6	$ 0	$ 6	$ 0

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Total derivative instruments
Derivatives, Fair Value [Line Items]
Notional Amount	$ 17,733	$ 7,729
Derivative Assets	4,051	1,603
Derivative Liabilities	15,562	9,751
Net Derivatives	(11,511)	(8,148)
Derivatives: designated for hedge accounting | Cash flow hedges:
Derivatives, Fair Value [Line Items]
Notional Amount	286	0
Derivative Assets	0	0
Derivative Liabilities	8	0
Net Derivatives	(8)	0
Derivatives: designated for hedge accounting | Cash flow hedges: | Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	286	0
Derivative Assets	0	0
Derivative Liabilities	8	0
Net Derivatives	(8)	0
Derivatives: designated for hedge accounting | Cash flow hedges: | Interest swaps
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	0	0
Net Derivatives	0	0
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	17,447	7,729
Derivative Assets	3,690	1,503
Derivative Liabilities	3,368	1,358
Net Derivatives	322	145
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	4,263	2,277
Derivative Assets	0	0
Derivative Liabilities	0	0
Net Derivatives	0	0
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Notional Amount	11,617	4,930
Derivative Assets	3,421	1,370
Derivative Liabilities	898	402
Net Derivatives	2,523	968
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Notional Amount	1,567	522
Derivative Assets	0	0
Derivative Liabilities	0	0
Net Derivatives	0	0
Derivatives: not designated for hedge accounting | Margin
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	269	133
Derivative Liabilities	0	0
Net Derivatives	269	133
Derivatives: not designated for hedge accounting | Collateral
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	2,470	956
Net Derivatives	(2,470)	(956)
Derivatives: not designated for hedge accounting | Total embedded derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	361	100
Derivative Liabilities	12,186	8,393
Net Derivatives	(11,825)	(8,293)
Derivatives: not designated for hedge accounting | SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	13,198	8,804
Net Derivatives	(13,198)	(8,804)
Derivatives: not designated for hedge accounting | Funds withheld receivable
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	361	100
Derivative Liabilities	0	0
Net Derivatives	361	100
Derivatives: not designated for hedge accounting | Modco receivable
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	(1,012)	(411)
Net Derivatives	$ 1,012	$ 411

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	$ 912	$ (336)	$ (134)	$ (1,029)
Total derivative instruments
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	912	(336)	(134)	(1,029)
AOCI	(1)	0	(1)	0
Derivatives: designated for hedge accounting | Cash flow hedges:
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(8)		(8)
AOCI	(1)		(1)
Derivatives: designated for hedge accounting | Cash flow hedges: | Currency swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(8)	0	(8)	0
AOCI	(1)	0	(1)	0
Derivatives: designated for hedge accounting | Cash flow hedges: | Interest swaps
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0	0	0
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	449	(192)	1,265	13
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	172	(75)	396	23
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Options
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	230	(70)	863	41
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Futures
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	47	(47)	6	(51)
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Total embedded derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	471	(144)	(1,391)	(1,042)
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(1,258)	903	(4,836)	(1,326)
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Funds withheld receivable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(131)	52	(1,237)	(546)
AOCI	0	0	0	0
Derivatives: not designated for hedge accounting | Modco receivable
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	1,860	$ (1,099)	4,682	$ 830
AOCI	$ 0		$ 0

DERIVATIVES - Rollforward for C

DERIVATIVES - Rollforward for Cash Flows Hedges in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 2,137	$ 1,431	$ 2,160	$ 231
Balance at end of period	2,453	1,507	2,453	1,507
Cash Flow Hedges Recognized in AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	0	0	0	0
Amount recorded in AOCI	(1)	0	(1)	0
Amount reclassified (to) from income to AOCI	0	0	0	0
Balance at end of period	(1)	0	(1)	0
Cash Flow Hedges Recognized in AOCI | Currency swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(1)	0	(1)	0
Amount reclassified (to) from income to AOCI	0	0	0	0
Cash Flow Hedges Recognized in AOCI | Interest swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	0	0	0	0
Amount reclassified (to) from income to AOCI	$ 0	$ 0	$ 0	$ 0

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 2,500	$ 956
Collateral	0	0
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirements	217	113
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirements	$ 51	$ 20

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative
Assets:
Gross Amount Recognized	$ 3,690	$ 1,503
Gross Amount Offset in the Balance Sheets	3,004	1,177
Net Amount Presented in the Balance Sheets	686	326
Gross Amount not Offset in the Balance Sheets	(373)	(178)
Net Amount	313	148
Liabilities:
Gross Amount Recognized	3,004	1,180
Gross Amount Offset in the Balance Sheets	3,004	1,177
Net Amount Presented in the Balance Sheets	0	3
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	0	3
Secured lending
Assets:
Gross Amount Recognized	18	6
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	18	6
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	18	6
Liabilities:
Gross Amount Recognized	18	6
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	18	6
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	18	6
Other financial assets
Assets:
Gross Amount Recognized	(2)	19
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	(2)	19
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	(2)	19
Other invested assets
Assets:
Gross Amount Recognized	3,706	1,528
Gross Amount Offset in the Balance Sheets	3,004	1,177
Net Amount Presented in the Balance Sheets	702	351
Gross Amount not Offset in the Balance Sheets	(373)	(178)
Net Amount	329	173
Other financial liabilities
Liabilities:
Gross Amount Recognized	2,243	2,160
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	2,243	2,160
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	2,243	2,160
Other liabilities
Liabilities:
Gross Amount Recognized	5,265	3,346
Gross Amount Offset in the Balance Sheets	3,004	1,177
Net Amount Presented in the Balance Sheets	2,261	2,169
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	$ 2,261	$ 2,169

DAC AND OTHER DEFERRED ASSETS_3

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - Reconciliation of DAC (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 1,649	$ 1,212
VUL
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	489	457
IUL
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	287	293
GMxB Core
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	194	119
Investment Edge
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	57	22
SCS
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	558	289
Other
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 64	$ 32

DAC AND OTHER DEFERRED ASSETS_4

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Costs (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	$ 1,180	$ 760
Capitalization	497	346
Amortization	(92)	(47)
Balance, end of period	1,585	1,059
VUL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	457	410
Capitalization	52	51
Amortization	(20)	(17)
Balance, end of period	489	444
IUL
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	293	296
Capitalization	8	11
Amortization	(14)	(13)
Balance, end of period	287	294
GMxB Core
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	119	40
Capitalization	85	61
Amortization	(10)	(4)
Balance, end of period	194	97
IE
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	22	1
Capitalization	37	16
Amortization	(2)	(1)
Balance, end of period	57	16
SCS
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	289	13
Capitalization	315	207
Amortization	(46)	(12)
Balance, end of period	558	208
Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Amortization	$ (2)	$ (1)

DAC AND OTHER DEFERRED ASSETS_5

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Credits (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
VUL
Changes in unearned revenue liability
Balance, beginning of the period	$ 203	$ 159
Capitalization	47	41
Amortization	(10)	(8)
Balance, end of the period	240	192
IUL
Changes in unearned revenue liability
Balance, beginning of the period	210	157
Capitalization	42	49
Amortization	(11)	(8)
Balance, end of the period	$ 241	$ 198

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedules Of Assets And Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets:
Fixed maturities available for sale, at fair value	$ 17,979	$ 9,891
U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	15	15
States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	42	43
Foreign governments
Assets:
Fixed maturities available for sale, at fair value	50	31
Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	2,244	972
Asset-backed
Assets:
Fixed maturities available for sale, at fair value	5,613	2,986
Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	571	182
Fair Value, Recurring
Assets:
Fixed maturities available for sale, at fair value	17,979	9,891
Other equity investments	17	19
Other invested assets:	2,515	968
Cash equivalents	2,227	1,654
Funds withheld receivable	361	100
Purchased market risk benefits	7	9
Assets for market risk benefits	39	24
Separate Accounts assets	8,326	5,754
Total Assets	31,471	18,419
Liabilities:
Liabilities for market risk benefits	6,595	7,333
Total Liabilities	18,781	15,726
Fair Value, Recurring | Corporate
Assets:
Fixed maturities available for sale, at fair value	9,444	5,662
Fair Value, Recurring | U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	15	15
Fair Value, Recurring | States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	42	43
Fair Value, Recurring | Foreign governments
Assets:
Fixed maturities available for sale, at fair value	50	31
Fair Value, Recurring | Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	2,244	972
Fair Value, Recurring | Asset-backed
Assets:
Fixed maturities available for sale, at fair value	5,613	2,986
Fair Value, Recurring | Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	571	182
Fair Value, Recurring | Swaps
Assets:
Other invested assets:	(8)
Fair Value, Recurring | Options
Assets:
Other invested assets:	2,523	968
Fair Value, Recurring | SCS, MSO and IUL indexed features’ liability
Liabilities:
Guarantees	13,198	8,804
Fair Value, Recurring | Modco receivable
Liabilities:
Guarantees	(1,012)	(411)
Fair Value, Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Other equity investments	0	0
Other invested assets:	0	0
Cash equivalents	2,227	1,654
Funds withheld receivable	0	0
Purchased market risk benefits	0	0
Assets for market risk benefits	0	0
Separate Accounts assets	8,319	5,747
Total Assets	10,546	7,401
Liabilities:
Liabilities for market risk benefits	0	0
Total Liabilities	0	0
Fair Value, Recurring | Level 1 | Corporate
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | Foreign governments
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | Asset-backed
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 1 | Swaps
Assets:
Other invested assets:	0
Fair Value, Recurring | Level 1 | Options
Assets:
Other invested assets:	0	0
Fair Value, Recurring | Level 1 | SCS, MSO and IUL indexed features’ liability
Liabilities:
Guarantees	0	0
Fair Value, Recurring | Level 1 | Modco receivable
Liabilities:
Guarantees	0	0
Fair Value, Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	17,786	9,779
Other equity investments	17	19
Other invested assets:	2,515	968
Cash equivalents	0	0
Funds withheld receivable	0	0
Purchased market risk benefits	0	0
Assets for market risk benefits	0	0
Separate Accounts assets	7	7
Total Assets	20,325	10,773
Liabilities:
Liabilities for market risk benefits	0	0
Total Liabilities	13,198	8,804
Fair Value, Recurring | Level 2 | Corporate
Assets:
Fixed maturities available for sale, at fair value	9,266	5,575
Fair Value, Recurring | Level 2 | U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	15	15
Fair Value, Recurring | Level 2 | States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	42	43
Fair Value, Recurring | Level 2 | Foreign governments
Assets:
Fixed maturities available for sale, at fair value	50	31
Fair Value, Recurring | Level 2 | Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	2,244	972
Fair Value, Recurring | Level 2 | Asset-backed
Assets:
Fixed maturities available for sale, at fair value	5,599	2,962
Fair Value, Recurring | Level 2 | Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	570	181
Fair Value, Recurring | Level 2 | Swaps
Assets:
Other invested assets:	(8)
Fair Value, Recurring | Level 2 | Options
Assets:
Other invested assets:	2,523	968
Fair Value, Recurring | Level 2 | SCS, MSO and IUL indexed features’ liability
Liabilities:
Guarantees	13,198	8,804
Fair Value, Recurring | Level 2 | Modco receivable
Liabilities:
Guarantees	0	0
Fair Value, Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	193	112
Other equity investments	0	0
Other invested assets:	0	0
Cash equivalents	0	0
Funds withheld receivable	361	100
Purchased market risk benefits	7	9
Assets for market risk benefits	39	24
Separate Accounts assets	0	0
Total Assets	600	245
Liabilities:
Liabilities for market risk benefits	6,595	7,333
Total Liabilities	5,583	6,922
Fair Value, Recurring | Level 3 | Corporate
Assets:
Fixed maturities available for sale, at fair value	178	87
Fair Value, Recurring | Level 3 | U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 3 | States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 3 | Foreign governments
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 3 | Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	0	0
Fair Value, Recurring | Level 3 | Asset-backed
Assets:
Fixed maturities available for sale, at fair value	14	24
Fair Value, Recurring | Level 3 | Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	1	1
Fair Value, Recurring | Level 3 | Swaps
Assets:
Other invested assets:	0
Fair Value, Recurring | Level 3 | Options
Assets:
Other invested assets:	0	0
Fair Value, Recurring | Level 3 | SCS, MSO and IUL indexed features’ liability
Liabilities:
Guarantees	0	0
Fair Value, Recurring | Level 3 | Modco receivable
Liabilities:
Guarantees	(1,012)	(411)
Fair Value, Recurring | NAV
Assets:
Separate Accounts assets	$ 1	$ 1

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Fair Value Inputs, Assets Quantitative Information [Line Items]
AFS fixed maturities transferred from Level 3 to Level 2	$ 0	$ 10,000,000
AFS fixed maturities transferred from Level 2 to Level 3	$ 0	$ 0
Percentage of total equity representing AFS fixed maturities transferred	0%	0.70%
Level 3 | Fair Value, Nonrecurring
Fair Value Inputs, Assets Quantitative Information [Line Items]
Investments, fair value	$ 121,000,000		$ 73,000,000

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation For All Levels (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Realized and unrealized gains (losses), included in Net income (loss) as:
Net derivative gains (losses)			$ 1,000,000	$ (5,000,000)
Transfers into Level 3			0	0
Transfers out of Level 3			0	(10,000,000)
Level 3 | Corporate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 197,000,000	$ 61,000,000	87,000,000	18,000,000
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income	1,000,000	0	1,000,000	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	1,000,000	0	1,000,000	0
Other comprehensive income (loss)	3,000,000	(1,000,000)	4,000,000	(1,000,000)
Purchases	168,000,000	42,000,000	317,000,000	95,000,000
Sales	(191,000,000)	(8,000,000)	(231,000,000)	(8,000,000)
Change in fair value of funds withheld assets	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	(10,000,000)
Closing Balance	178,000,000	94,000,000	178,000,000	94,000,000
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.	0	(1,000,000)	3,000,000	(1,000,000)
Level 3 | Asset-backed
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	30,000,000		24,000,000
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income	0		0
Net derivative gains (losses)	0		0
Total realized and unrealized gains (losses)	0		0
Other comprehensive income (loss)	0		0
Purchases	(15,000,000)		14,000,000
Sales	(1,000,000)		(24,000,000)
Change in fair value of funds withheld assets	0		0	0
Transfers into Level 3	0		0
Transfers out of Level 3	0		0
Closing Balance	14,000,000		14,000,000
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0		0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.	0		0
Level 3 | RMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		0		0
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income		0		0
Net derivative gains (losses)		0		0
Total realized and unrealized gains (losses)		0		0
Other comprehensive income (loss)		(1,000,000)		(1,000,000)
Purchases		40,000,000		40,000,000
Sales		0		0
Change in fair value of funds withheld assets		0
Transfers into Level 3		0		0
Transfers out of Level 3		0		0
Closing Balance		39,000,000		39,000,000
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period		0		0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.		(1,000,000)		(1,000,000)
Level 3 | CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,000,000	0	1,000,000	0
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income	0	0	0	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	11,000,000	0	11,000,000
Sales	0	0	0	0
Change in fair value of funds withheld assets	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	1,000,000	11,000,000	1,000,000	11,000,000
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.	0	0	0	0
Level 3 | Funds Withheld Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(87,000,000)	(136,000,000)	100,000,000	0
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income	0	0	0	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Change in fair value of funds withheld assets	448,000,000	(431,000,000)	261,000,000	(567,000,000)
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	361,000,000	(567,000,000)	361,000,000	(567,000,000)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.	0	0	0	0
Level 3 | Modco Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(183,000,000)	166,000,000	(411,000,000)	0
Realized and unrealized gains (losses), included in Net income (loss) as:
Investment gains (losses), reported in net investment income	0	0	0	0
Net derivative gains (losses)	0	0	0	0
Total realized and unrealized gains (losses)	0	0	0	0
Other comprehensive income (loss)	0	0	0	0
Purchases	0	0	0	0
Sales	0	0	0	0
Change in fair value of funds withheld assets	(829,000,000)	657,000,000	(601,000,000)	823,000,000
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Closing Balance	(1,012,000,000)	823,000,000	(1,012,000,000)	823,000,000
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period.	$ 0	$ 0	$ 0	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information About Level 3 (Details) $ in Millions	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liability for market risk benefits	$ 6,595	$ 7,333	$ 6,712
Assets for market risk benefits	39	24	$ 22
Level 3 | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value, other equity investments, AFS	0
Level 3 | Corporate | Matrix pricing model
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value, fixed maturities AFS	$ 72	$ 39
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0.0020	0.0095
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0.0120	0.0120
Level 3 | Corporate | Matrix pricing model | Spread over benchmark | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0.0084	0.0118
Level 3 | Corporate | Market comparable companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value, fixed maturities AFS	$ 0
Level 3 | Corporate | Market comparable companies | EBITDA multiple | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | EBITDA multiple | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | EBITDA multiple | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Discount rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Discount rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Discount rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Cash flow multiples | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Cash flow multiples | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Cash flow multiples | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Loan to Value | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Loan to Value | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Corporate | Market comparable companies | Loan to Value | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Other equity investments | Discounted cash flow | Earnings Multiple | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Other equity investments | Discounted cash flow | Earnings Multiple | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | Other equity investments | Discounted cash flow | Earnings Multiple | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage measurement input of equity securities	0
Level 3 | MRB | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value, fixed maturities AFS	$ 7	$ 9
Fair value, liabilities	$ 6,556	$ 7,309
Level 3 | MRB | Discounted cash flow | Non-performance Risk | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0020	0.0023
Level 3 | MRB | Discounted cash flow | Non-performance Risk | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0110	0.0118
Level 3 | MRB | Discounted cash flow | Non-performance Risk | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0020	0.0023
Level 3 | MRB | Discounted cash flow | Lapse rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0024	0.0021
Level 3 | MRB | Discounted cash flow | Lapse rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.3618	0.2937
Level 3 | MRB | Discounted cash flow | Lapse rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0359	0.0399
Level 3 | MRB | Discounted cash flow | Withdrawal rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0	0
Level 3 | MRB | Discounted cash flow | Withdrawal rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.1165	0.1497
Level 3 | MRB | Discounted cash flow | Withdrawal rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0077	0.0067
Level 3 | MRB | Discounted cash flow | Annuitization rate | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0004	0.0004
Level 3 | MRB | Discounted cash flow | Annuitization rate | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	1	1
Level 3 | MRB | Discounted cash flow | Annuitization rate | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0479	0.0304
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 0-40 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0001	0.0001
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 0-40 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0017	0.0018
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 0-40 | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0295	0.0262
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 41-60 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0006	0.0007
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 41-60 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0052	0.0053
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 61-115 | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.0032	0.0033
Level 3 | MRB | Discounted cash flow | Mortality rates | Age 61-115 | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input of servicing liability	0.4120	0.4200

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values And Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Consolidated Amounts [Abstract]
Policy loans	$ 293	$ 268
Funds withheld receivable	9,881	10,603	$ 10,677
Policyholders’ liabilities: Investment contracts	34,162	24,963
Separate Accounts liabilities	8,327	5,754
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	1,491	294
Policy loans	293	268
Funds withheld receivable	9,520	10,503
Modco receivable	30,876	29,912
Policyholders’ liabilities: Investment contracts	104	110
Separate Accounts liabilities	747	372
Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	1,517	297
Policy loans	317	275
Funds withheld receivable	9,520	10,503
Modco receivable	30,876	29,912
Policyholders’ liabilities: Investment contracts	103	108
Separate Accounts liabilities	747	372
Fair Value | Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Funds withheld receivable	0	0
Modco receivable	0	0
Policyholders’ liabilities: Investment contracts	0	0
Separate Accounts liabilities	0	0
Fair Value | Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0	0
Policy loans	0	0
Funds withheld receivable	0	0
Modco receivable	0	0
Policyholders’ liabilities: Investment contracts	0	0
Separate Accounts liabilities	0	0
Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	1,517	297
Policy loans	317	275
Funds withheld receivable	9,520	10,503
Modco receivable	30,876	29,912
Policyholders’ liabilities: Investment contracts	103	108
Separate Accounts liabilities	$ 747	$ 372

LIABILITIES FOR FUTURE POLICY_3

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance And Liability For Unpaid Claims And Claims Adjustment Expense (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 2,130	$ 1,653	$ 1,450
All Future Policyholder Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	2,130	1,653
Subtotal
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,435	1,049
Payout
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	736	368	241
UL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	360	344	$ 333
Other
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	339	337
Other policy funds
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	695	$ 604
Unearned revenue liability	481
URL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 485

LIABILITIES FOR FUTURE POLICY_4

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 2,130	$ 1,450	$ 1,653
Payout
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	368	0
Beginning balance of original discount rate	361	0
Effect of changes in cash flow assumptions			0	$ 0
Effect of actual variances from expected experience			0	0
Adjusted beginning of period balance			361	$ 0
Issuances	368	251
Interest accrual	13	0
Benefit payments	(27)	0
Ending balance at original discount rate	715	251
Effect of changes in discount rate assumptions	21	(11)
Balance, end of period	736	240
Net liability for additional liability	736	241	$ 368
Less: Reinsurance recoverable	0	0
Net liability for additional liability, after reinsurance recoverable	$ 736	$ 241
Weighted-average duration of additional liability - death benefit (years)	7 years 6 months	7 years 6 months

LIABILITIES FOR FUTURE POLICY_5

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses (Details) - Payout - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	$ 1,073	$ 541
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted)	730	364
Expected future gross premiums (discounted)	$ 0	$ 0

LIABILITIES FOR FUTURE POLICY_6

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	$ 119	$ 81
Interest Accretion	23	3
Payout
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	119	81
Interest Accretion	$ 23	$ 3

LIABILITIES FOR FUTURE POLICY_7

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates (Details) - Payout	Sep. 30, 2024	Dec. 31, 2023
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.10%	5.30%
Current discount rate	4.70%	5%

LIABILITIES FOR FUTURE POLICY_8

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Balances of and Changes in Additional Liabilities Related to Insurance Guarantees (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 2,130	$ 1,450	$ 1,653
Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	419	395
Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	11	7
UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of period	344	0
Beginning balance before AOCI adjustments	344	0
Effect of changes in interest rate and cash flow assumptions and model changes			2	$ 6
Effect of actual variances from expected experience			(3)	3
Adjusted beginning of period balance			343	$ 9
Issuances	0	322
Interest accrual	11	4
Net assessments collected	15	1
Benefit payments	(9)	(2)
Ending balance before shadow reserve adjustments	360	333
Effect of shadow reserve adjustment	0	0
Balance, end of period	360	333
Net liability for additional liability	360	333	$ 344
Effect of reserve adjustment recorded in AOCI	0	0
Net liability for additional liability, after reinsurance recoverable	$ 360	$ 333
Weighted-average duration of additional liability - death benefit (years)	16 years 10 months 24 days	17 years 2 months 12 days
Weighted Average Interest Rate	4.50%	4.50%
UL | Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 419	$ 395
UL | Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 11	$ 7
Universal Life
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Weighted Average Interest Rate	4.50%	4.50%

MARKET RISK BENEFITS - Changes

MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
GMxB Core
Market Risk Benefit [Roll Forward]
Balance, beginning of period	$ 917	$ 1,064	$ 1,191	$ (6)
Balance BOP before changes in the instrument specific credit risk	667	1,073	934	(5)
Model changes and effect of changes in cash flow assumptions	76	54	76	54
Actual market movement effect	(181)	216	(332)	103
Interest accrual	7	13	24	22
Attributed fees accrued	89	90	274	192
Benefit payments	(9)	(11)	(30)	(23)
Actual policyholder behavior different from expected behavior	5	7	13	15
Changes in future economic assumptions	194	(541)	(109)	(762)
Issuances	(1)	0	(3)	1,305
Balance EOP before changes in the instrument-specific credit risk	847	901	847	901
Changes in the instrument-specific credit risk	252	123	252	123
Balance, end of period	$ 1,099	$ 1,024	$ 1,099	$ 1,024
Weighted-average age of policyholders (years)	65 years 4 months 24 days	64 years 6 months	65 years 4 months 24 days	64 years 6 months
Net amount at risk	$ 2,592	$ 3,487	$ 2,592	$ 3,487
GMxB Legacy
Market Risk Benefit [Roll Forward]
Balance, beginning of period	5,266	6,226	6,082	0
Balance BOP before changes in the instrument specific credit risk	4,898	6,232	5,695	0
Model changes and effect of changes in cash flow assumptions	(47)	(44)	(47)	(44)
Actual market movement effect	(245)	291	(559)	30
Interest accrual	52	76	165	144
Attributed fees accrued	82	87	245	182
Benefit payments	(120)	(127)	(407)	(280)
Actual policyholder behavior different from expected behavior	(11)	(5)	(18)	(9)
Changes in future economic assumptions	458	(1,080)	(170)	(1,435)
Issuances	0	0	163	6,842
Balance EOP before changes in the instrument-specific credit risk	5,067	5,430	5,067	5,430
Changes in the instrument-specific credit risk	379	190	379	190
Balance, end of period	$ 5,446	$ 5,620	$ 5,446	$ 5,620
Weighted-average age of policyholders (years)	74 years 2 months 12 days	73 years 7 months 6 days	74 years 2 months 12 days	73 years 7 months 6 days
Net amount at risk	$ 8,963	$ 10,957	$ 8,963	$ 10,957

MARKET RISK BENEFITS - Reconcil

MARKET RISK BENEFITS - Reconciles Market Risk Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Market Risk Benefit [Line Items]
MRB Asset	$ (39)	$ (24)	$ (22)
MRB Liability	6,595	7,333	$ 6,712
Net MRB	6,556	7,309
Purchased MRB	(7)	(9)
Total	6,549	7,300
GMxB Core
Market Risk Benefit [Line Items]
MRB Asset	(26)	(14)
MRB Liability	1,125	1,205
Net MRB	1,099	1,191
Purchased MRB	0	0
Total	1,099	1,191
GMxB Legacy
Market Risk Benefit [Line Items]
MRB Asset	0	0
MRB Liability	5,446	6,082
Net MRB	5,446	6,082
Purchased MRB	0	0
Total	5,446	6,082
Other
Market Risk Benefit [Line Items]
MRB Asset	(13)	(10)
MRB Liability	24	46
Net MRB	11	36
Purchased MRB	(7)	(9)
Total	$ 4	$ 27

POLICYHOLDER ACCOUNT BALANCES -

POLICYHOLDER ACCOUNT BALANCES - Reconciliation of Policyholders Account Balances to Policyholders' Account Balance Liability (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Total
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	$ 34,162	$ 24,963
UL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	1,175	1,186	$ 1,192	$ 0
IUL
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	2,505	2,431	2,386	1,962
EI
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	1,771	1,964	2,072	0
EG
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	6,436	6,619	6,697	0
SCS
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	50,533	40,353	$ 36,523	$ 242
Other
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	(28,258)	(27,590)
Modco Reinsurance
Liability for Future Policy Benefit, Activity [Line Items]
Policyholder account balance	$ (31,900)	$ (30,300)

POLICYHOLDER ACCOUNT BALANCES_2

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Policyholders’ Account Balances (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
UL
Policyholder Account Balance [Roll Forward]
Balance, beginning of period	$ 1,186	$ 0
Issuances	0	1,208
Premiums received	343	241
Policy charges	(358)	(254)
Surrenders and withdrawals	(12)	(9)
Benefit payments	(13)	(12)
Net transfers from (to) separate account	0	0
Interest credited	29	18
Other		0
Balance, end of the period	$ 1,175	$ 1,192
Weighted-average crediting rate	3.65%	3.42%
Net amount at risk	$ 15,126	$ 16,308
Cash surrender value	1,035	1,039
IUL
Policyholder Account Balance [Roll Forward]
Balance, beginning of period	2,431	1,962
Issuances	0	349
Premiums received	174	180
Policy charges	(145)	(143)
Surrenders and withdrawals	(76)	(46)
Benefit payments	(11)	(8)
Net transfers from (to) separate account	0	0
Interest credited	132	92
Other		0
Balance, end of the period	$ 2,505	$ 2,386
Weighted-average crediting rate	2.55%	2.39%
Net amount at risk	$ 18,635	$ 19,322
Cash surrender value	1,920	1,825
EI
Policyholder Account Balance [Roll Forward]
Balance, beginning of period	1,964	0
Issuances	0	2,213
Premiums received	8	5
Policy charges	0	0
Surrenders and withdrawals	(215)	(144)
Benefit payments	(13)	(16)
Net transfers from (to) separate account	(13)	(17)
Interest credited	40	31
Other		0
Balance, end of the period	$ 1,771	$ 2,072
Weighted-average crediting rate	2.89%	2.88%
Net amount at risk	$ 90	$ 115
Cash surrender value	1,768	2,067
EG
Policyholder Account Balance [Roll Forward]
Balance, beginning of period	6,619	0
Issuances	0	6,817
Premiums received	235	173
Policy charges	(3)	(2)
Surrenders and withdrawals	(686)	(451)
Benefit payments	(14)	(12)
Net transfers from (to) separate account	135	79
Interest credited	150	93
Other		0
Balance, end of the period	$ 6,436	$ 6,697
Weighted-average crediting rate	2.36%	2.31%
Net amount at risk	$ 5	$ 38
Cash surrender value	6,390	6,650
SCS
Policyholder Account Balance [Roll Forward]
Balance, beginning of period	40,353	242
Issuances	0	31,189
Premiums received	2	0
Policy charges	(15)	(5)
Surrenders and withdrawals	(2,451)	(1,203)
Benefit payments	(190)	(120)
Net transfers from (to) separate account	7,630	4,946
Interest credited	5,204	1,474
Other		0
Balance, end of the period	$ 50,533	$ 36,523
Weighted-average crediting rate	0.01%	0%
Net amount at risk	$ 0	$ 30
Cash surrender value	$ 47,964	$ 33,064

POLICYHOLDER ACCOUNT BALANCES_3

POLICYHOLDER ACCOUNT BALANCES - Guaranteed Minimum Interest Rates (Details) $ in Millions	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
1 Basis Point - 50 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0001	0.0001
1 Basis Point - 50 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0050	0.0050
51 Basis Points - 150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0051	0.0051
51 Basis Points - 150 Basis Points Above | Maximum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150	0.0150
Greater Than 150 Basis Points Above | Minimum
Policyholder Account Balance [Line Items]
Policyholder account balance, above guaranteed minimum crediting rate	0.0150	0.0150
Universal Life
Policyholder Account Balance [Line Items]
Policyholder account value	$ 1,174	$ 1,185
Universal Life | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
Universal Life | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
Universal Life | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
Universal Life | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 698	$ 693
Universal Life | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
Universal Life | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Universal Life | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 476	$ 492
Universal Life | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Universal Life | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 9	$ 47
Universal Life | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	9	47
Universal Life | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	517	501
Universal Life | 1 Basis Point - 50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | 1 Basis Point - 50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	41	9
Universal Life | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	476	492
Universal Life | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	200	339
Universal Life | 51 Basis Points - 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | 51 Basis Points - 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	200	339
Universal Life | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	448	298
Universal Life | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Universal Life | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	448	298
Universal Life | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life
Policyholder Account Balance [Line Items]
Policyholder account value	2,378	2,331
Indexed Universal Life | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
Indexed Universal Life | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
Indexed Universal Life | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
Indexed Universal Life | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,378	$ 2,331
Indexed Universal Life | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
Indexed Universal Life | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Indexed Universal Life | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
Indexed Universal Life | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Indexed Universal Life | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 659	$ 1,112
Indexed Universal Life | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	659	1,112
Indexed Universal Life | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	564	218
Indexed Universal Life | 1 Basis Point - 50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | 1 Basis Point - 50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	564	218
Indexed Universal Life | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	1,155	1,001
Indexed Universal Life | 51 Basis Points - 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | 51 Basis Points - 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	1,155	1,001
Indexed Universal Life | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Indexed Universal Life | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual
Policyholder Account Balance [Line Items]
Policyholder account value	1,771	1,964
EQUI-VEST Individual | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 233	$ 252
EQUI-VEST Individual | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
EQUI-VEST Individual | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
EQUI-VEST Individual | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 38	$ 42
EQUI-VEST Individual | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
EQUI-VEST Individual | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Individual | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 1,500	$ 1,670
EQUI-VEST Individual | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Individual | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 1,580	$ 1,759
EQUI-VEST Individual | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	42	47
EQUI-VEST Individual | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	38	42
EQUI-VEST Individual | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	1,500	1,670
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	191	205
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	191	205
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Individual | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group
Policyholder Account Balance [Line Items]
Policyholder account value	5,455	5,707
EQUI-VEST Group | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,759	$ 2,796
EQUI-VEST Group | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
EQUI-VEST Group | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
EQUI-VEST Group | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 272	$ 269
EQUI-VEST Group | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
EQUI-VEST Group | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%
EQUI-VEST Group | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,424	$ 2,642
EQUI-VEST Group | Greater than 2.50% | Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
EQUI-VEST Group | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,146	$ 3,399
EQUI-VEST Group | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	450	488
EQUI-VEST Group | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	272	269
EQUI-VEST Group | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	2,424	2,642
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	2,054	2,020
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	2,054	2,020
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 1 Basis Point - 50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	21	11
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	21	11
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | 51 Basis Points - 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Policyholder account value	234	277
EQUI-VEST Group | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Policyholder account value	234	277
EQUI-VEST Group | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
EQUI-VEST Group | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0

POLICYHOLDER ACCOUNT BALANCES_4

POLICYHOLDER ACCOUNT BALANCES - Reconciliation of Separate Account Liabilities to Separate Account Liability balance (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 8,327	$ 5,754
VUL
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	2,570	2,128	$ 1,879	$ 1,653
GMxB Core
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	3,702	2,166	1,643	756
IE
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	534	226	165	26
Reinsured
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	1,104	1,022	$ 953	$ 913
Other
Liability for Future Policy Benefit, Activity [Line Items]
Separate Accounts liabilities	$ 417	$ 212

POLICYHOLDER ACCOUNT BALANCES_5

POLICYHOLDER ACCOUNT BALANCES - Balances and Changes in Separate Accounts Liability (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Separate Account, Liability [Roll Forward]
Balance, beginning of period	$ 5,754
Balance, end of period	8,327
VUL
Separate Account, Liability [Roll Forward]
Balance, beginning of period	2,128	$ 1,653
Premiums and deposits	323	284
Policy charges	(110)	(98)
Surrenders and withdrawals	(38)	(36)
Benefit payments	(8)	(9)
Investment performance	319	117
Net transfers from (to) general account	(44)	(32)
Other charges	0	0
Balance, end of period	2,570	1,879
Cash surrender value	2,228	1,551
GMxB Core
Separate Account, Liability [Roll Forward]
Balance, beginning of period	2,166	756
Premiums and deposits	1,148	790
Policy charges	(22)	(8)
Surrenders and withdrawals	(57)	(21)
Benefit payments	(9)	(4)
Investment performance	147	20
Net transfers from (to) general account	329	110
Other charges	0	0
Balance, end of period	3,702	1,643
Cash surrender value	3,454	1,516
IE
Separate Account, Liability [Roll Forward]
Balance, beginning of period	226	26
Premiums and deposits	1,066	387
Policy charges	0	0
Surrenders and withdrawals	(14)	(4)
Benefit payments	0	0
Investment performance	(784)	1
Net transfers from (to) general account	40	(245)
Other charges	0	0
Balance, end of period	534	165
Cash surrender value	510	157
Reinsured
Separate Account, Liability [Roll Forward]
Balance, beginning of period	1,022	913
Premiums and deposits	15	15
Policy charges	(24)	(25)
Surrenders and withdrawals	(61)	(49)
Benefit payments	(17)	(4)
Investment performance	0	0
Net transfers from (to) general account	169	103
Other charges	0	0
Balance, end of period	1,104	953
Cash surrender value	$ 0	$ 0

POLICYHOLDER ACCOUNT BALANCES_6

POLICYHOLDER ACCOUNT BALANCES - Aggregate Fair Value of Separate Account Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 8,327	$ 5,754
Life Insurance & Employee Benefits Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	3,141	2,642
Individual Variable Annuity Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	5,157	3,100
Employer - Sponsored Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	17
Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	12	12
Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	8,327	5,754
Mutual Funds | Life Insurance & Employee Benefits Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	3,141	2,642
Mutual Funds | Individual Variable Annuity Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	5,157	3,100
Mutual Funds | Employer - Sponsored Products
Policyholder Account Balance [Line Items]
Separate Accounts assets	17
Mutual Funds | Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 12	$ 12

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)
Income Tax Disclosure [Abstract]
Increase (decrease) in valuation allowance	$ (10)	$ (4)
Valuation allowance	$ 1	$ 1

EQUITY - Cumulative Gains (Loss

EQUITY - Cumulative Gains (Losses) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ 2,453	$ 2,137	$ 2,160	$ 1,507	$ 1,431	$ 231
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(413)	$ (759)	(694)	$ (750)	$ (345)	$ (381)
Unrealized gains (losses) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	216		(51)
Market risk benefits - instrument-specific credit risk component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	(636)		(649)
Liability or future policy benefits - current discount rate component
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	7		6
Defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI	$ 0		$ 0

EQUITY - Components of OCI, Net

EQUITY - Components of OCI, Net of Taxes (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period		$ 385	$ (158)	$ 271	$ (137)
(Gains) losses reclassified into net income (loss) during the period		0	0	0	4
Net unrealized gains (losses) on investments		385	(158)	271	(133)
Adjustments for policyholders’ liabilities, insurance liability loss recognition and other		(3)	4	(2)	3
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $89, $(42), $66 and $(54))	[1]	382	(154)	269	(130)
Change in LFPB discount rate and MRB credit risk
Change in market risk benefits - instrument-specific credit risk (net of deferred income tax expense (benefit) of $(2), $(70), $3 and $(67))		(9)	(262)	11	(251)
Changes in liability for future policy benefits - current discount rate (net of deferred income tax expense (benefit) of $(7), $3, $0 and $3)		(27)	11	1	12
Other comprehensive income (loss), net of income taxes		346	(405)	281	(369)
Deferred income tax expense (benefit) for change in unrealized gains (losses)		89	(42)	66	(54)
Deferred income tax expense (benefit) for market risk benefits - change in instrument-specific credit risk		(2)	(70)	3	(67)
Deferred income tax expense (benefit) for liability for future policy benefits - change in current discount rate		(7)	3	0	3
Reclassification adjustment		$ 0	$ (2)	$ 0	$ (1)
[1] See Note 12 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	May 31, 2023
Restructuring Cost and Reserve [Line Items]
Unaccrued amounts of reasonably possible range of losses	$ 5,000,000
Federal home loan bank stock	4,000,000
Line of credit facility, outstanding balance	0	$ 0
Guaranty application, equity commitment to certain limited partnerships	260,000,000
Commitments under existing mortgage loan agreements	0
Commercial Paper | Funding Agreement-Backed Commercial Paper Program
Restructuring Cost and Reserve [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,000,000,000
Secured Debt
Restructuring Cost and Reserve [Line Items]
Borrowings outstanding	$ 0	$ 0

INSURANCE STATUTORY FINANCIAL_2

INSURANCE STATUTORY FINANCIAL INFORMATION (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) prescribed_and_permitted_practice
Related Party Transaction [Line Items]
Number of prescribed and permitted practices | prescribed_and_permitted_practice	2
Change in statutory surplus	$ (158)
Statement of Statutory Accounting Principles 108
Related Party Transaction [Line Items]
Change in statutory surplus	$ 1,500
Target liability change percentage	100%

UNPAID CLAIM AND CLAIM EXPENS_3

UNPAID CLAIM AND CLAIM EXPENSES (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Liability for Unpaid Claims and Claims Adjustment Expense, [Roll Forward]
Gross balance at beginning of period	$ 141	$ 110
Less Reinsurance	48	36
Net balance at beginning of period	93	74
Incurred Claims (net) Related to:
Current Period	211	178
Prior Period	(14)	(15)
Total Incurred	197	163
Paid Claims (net) Related to:
Current Period	130	113
Prior Period	49	37
Total Paid	179	150
Net balance at end of period	112	87
Add Reinsurance	47	44
Gross balance at end of period	$ 159	$ 131

REINSURANCE - Effect of Reinsur

REINSURANCE - Effect of Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reinsurance Disclosures [Abstract]
Direct charges and fee income	$ 117	$ 100	$ 335	$ 278
Reinsurance assumed - Equitable Financial	349	341	1,028	685
Reinsurance ceded	(30)	(30)	(89)	(81)
Policy charges and fee income	436	411	1,274	882
Direct premiums	106	87	313	259
Assumed premiums	11	0	34	0
Reinsurance assumed - Equitable Financial	49	59	129	118
Reinsurance ceded	(12)	(14)	(41)	(44)
Premiums	154	132	435	333
Direct policyholders’ benefits	113	119	381	337
Assumed policyholders’ benefits	20	0	40	0
Reinsurance assumed - Equitable Financial	159	163	528	361
Reinsurance ceded	(21)	(21)	(78)	(80)
Policyholders’ benefits	271	261	871	618
Direct interest credited to policyholders’ account balances	179	84	443	158
Reinsurance assumed - Equitable Financial	168	155	474	306
Reinsurance ceded	(9)	(8)	(24)	(25)
Interest credited to policyholders’ account balances	$ 338	$ 231	$ 893	$ 439

REINSURANCE - Narrative (Detail

REINSURANCE - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Variable Universal Term Life Insurance Single Life
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, amount retained	$ 4
Variable Universal Term Life Insurance Single Life | Equitable Financial Life Insurance Company
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Policyholder contract deposits ceded	20
Variable Universal Term Life Insurance Joint Life
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance retention policy, amount retained	6
Variable Universal Term Life Insurance Joint Life | Equitable Financial Life Insurance Company
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Policyholder contract deposits ceded	$ 25

REINSURANCE - Composition of Po

REINSURANCE - Composition of Pool of Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Effects of Reinsurance [Line Items]
Other equity investments	$ 38	$ 19
Total assets supporting funds withheld	9,881	10,603	$ 10,677
Carrying Value
Effects of Reinsurance [Line Items]
Total assets supporting funds withheld	9,520	10,503
Fair Value
Effects of Reinsurance [Line Items]
Total assets supporting funds withheld	9,520	10,503
Equitable Financial Life Insurance Company | Carrying Value
Effects of Reinsurance [Line Items]
Fixed maturities	23,530	24,725
Mortgage loans on real estate	7,889	8,405
Policy loans	272	248
Other equity investments	190	238
Other invested assets	11,022	8,256
Total assets supporting funds withheld	42,903	41,872
Equitable Financial Life Insurance Company | Fair Value
Effects of Reinsurance [Line Items]
Fixed maturities	23,530	24,725
Mortgage loans on real estate	7,184	7,409
Policy loans	274	250
Other equity investments	190	238
Other invested assets	11,022	8,257
Total assets supporting funds withheld	$ 42,200	$ 40,879

REVISION OF PREVIOUSLY ISSUED_3

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Funds withheld receivable	$ 9,881		$ 10,603	$ 10,677
Reinsurance deposit assets	12,088		12,566	12,663
Current and deferred income taxes				127
Assets for market risk benefits	39		24	22
Total Assets	56,268		44,196	39,963
Liability for market risk benefits	6,595		7,333	6,712
Future policy benefits and other policyholders' liabilities	2,130		1,653	1,450
Other liabilities	2,261		2,169	2,143
Total Liabilities	53,815		42,036	38,456
Retained earnings (accumulated deficit)	978		969	372
Accumulated other comprehensive income (loss)	(413)		(694)	(750)
Total Equity	2,453	$ 2,137	2,160	1,507	$ 1,431	$ 231
Total Liabilities and Equity	$ 56,268		$ 44,196	39,963
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Funds withheld receivable				10,550
Reinsurance deposit assets				12,682
Current and deferred income taxes				131
Assets for market risk benefits				24
Total Assets				39,861
Liability for market risk benefits				6,731
Future policy benefits and other policyholders' liabilities				1,352
Other liabilities				2,137
Total Liabilities				38,371
Retained earnings (accumulated deficit)				373
Accumulated other comprehensive income (loss)				(768)
Total Equity				1,490
Total Liabilities and Equity				39,861
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Funds withheld receivable				127
Reinsurance deposit assets				(19)
Current and deferred income taxes				(4)
Assets for market risk benefits				(2)
Total Assets				102
Liability for market risk benefits				(19)
Future policy benefits and other policyholders' liabilities				98
Other liabilities				6
Total Liabilities				85
Retained earnings (accumulated deficit)				(1)
Accumulated other comprehensive income (loss)				18
Total Equity				17
Total Liabilities and Equity				$ 102

REVISION OF PREVIOUSLY ISSUED_4

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Statements of Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Policy charges and fee income	$ 436	$ 411	$ 1,274	$ 882
Premiums	154	132	435	333
Net derivative gains (losses)	912	(336)	(134)	(1,029)
Investment management and service fees	135	126	396	253
Total revenues	1,921	470	2,697	700
Benefits and other deductions
Policyholders’ benefits	271	261	871	618
Remeasurement of liability for future policy benefits	(14)	23	(24)	21
Change in market risk benefits and purchased market risk benefits	334	(992)	(900)	(1,830)
Commissions	133	99	358	219
Amortization of reinsurance deposit assets	172	93	477	241
Other operating costs and expenses	94	106	283	237
Total benefits and other deductions	1,381	(142)	2,104	38
Income (loss) from continuing operations, before income taxes	540	612	593	662
Income tax (expense) benefit from continuing operations	(107)	(131)	(120)	(68)
Net income (loss) from continuing operations		481		594
Net income (loss)	$ 433	481	$ 473	594
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Policy charges and fee income		410		882
Premiums		152		333
Net derivative gains (losses)		(340)		(1,034)
Investment management and service fees		143		253
Total revenues		502		695
Benefits and other deductions
Policyholders’ benefits		244		658
Remeasurement of liability for future policy benefits		10		10
Change in market risk benefits and purchased market risk benefits		(980)		(1,842)
Commissions		100		221
Amortization of reinsurance deposit assets		0		0
Other operating costs and expenses		210		455
Total benefits and other deductions		(148)		34
Income (loss) from continuing operations, before income taxes		650		661
Income tax (expense) benefit from continuing operations		(134)		(68)
Net income (loss) from continuing operations		516		593
Net income (loss)		516		593
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Policy charges and fee income		1		0
Premiums		(20)		0
Net derivative gains (losses)		4		5
Investment management and service fees		(17)		0
Total revenues		(32)		5
Benefits and other deductions
Policyholders’ benefits		17		(40)
Remeasurement of liability for future policy benefits		13		11
Change in market risk benefits and purchased market risk benefits		(12)		12
Commissions		(1)		(2)
Amortization of reinsurance deposit assets		93		241
Other operating costs and expenses		(104)		(218)
Total benefits and other deductions		6		4
Income (loss) from continuing operations, before income taxes		(38)		1
Income tax (expense) benefit from continuing operations		3		0
Net income (loss) from continuing operations		(35)		1
Net income (loss)		$ (35)		$ 1

REVISION OF PREVIOUSLY ISSUED_5

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)	$ 433	$ 481	$ 473	$ 594
Change in market risk benefits - instrument-specific credit risk	(9)	(262)	11	(251)
Other comprehensive income (loss), net of income taxes	346	(405)	281	(369)
Comprehensive income (loss)	$ 779	76	$ 754	225
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		516		593
Change in market risk benefits - instrument-specific credit risk		(280)		(268)
Other comprehensive income (loss), net of income taxes		(423)		(386)
Comprehensive income (loss)		93		207
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net income (loss)		(35)		1
Change in market risk benefits - instrument-specific credit risk		18		17
Other comprehensive income (loss), net of income taxes		18		17
Comprehensive income (loss)		$ (17)		$ 18

REVISION OF PREVIOUSLY ISSUED_6

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Statements of Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	$ 2,137	$ 1,431	$ 2,160	$ 231
Net income (loss)	433	481	473	594
Other comprehensive income (loss)	346	(405)	281	(369)
Balance at end of period	2,453	1,507	2,453	1,507
Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	1,009	(109)	969	(222)
Net income (loss)	433	481	473	594
Balance at end of period	978	372	978	372
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period	(759)	(345)	(694)	(381)
Other comprehensive income (loss)	346	(405)	281	(369)
Balance at end of period	$ (413)	(750)	$ (413)	(750)
As Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		516		593
Other comprehensive income (loss)		(423)		(386)
Balance at end of period		1,490		1,490
As Previously Reported | Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		(143)		(220)
Net income (loss)		516		593
Balance at end of period		373		373
As Previously Reported | Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		(345)		(382)
Other comprehensive income (loss)		(423)		(386)
Balance at end of period		(768)		(768)
Adjustments
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(35)		1
Other comprehensive income (loss)		18		17
Balance at end of period		17		17
Adjustments | Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		34		(2)
Net income (loss)		(35)		1
Balance at end of period		(1)		(1)
Adjustments | Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at beginning of period		0		1
Other comprehensive income (loss)		18		17
Balance at end of period		$ 18		$ 18

REVISION OF PREVIOUSLY ISSUED_7

REVISION OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 433	$ 481	$ 473	$ 594
Net derivative (gains) losses	(912)	336	134	1,029
Remeasurement of liability for future policy benefits	$ (14)	23	(24)	21
Change in market risk benefits			(900)	(1,830)
Future policy benefits			412	365
Funds withheld receivable			(212)	(219)
Other, net			1,335	984
Net cash provided by (used in) operating activities			$ 855	452
As Previously Reported
Cash flows from operating activities:
Net income (loss)		516		593
Net derivative (gains) losses		340		1,034
Remeasurement of liability for future policy benefits		10		10
Change in market risk benefits				(1,842)
Future policy benefits				264
Funds withheld receivable				(87)
Other, net				972
Net cash provided by (used in) operating activities				452
Adjustments
Cash flows from operating activities:
Net income (loss)		(35)		1
Net derivative (gains) losses		(4)		(5)
Remeasurement of liability for future policy benefits		$ 13		11
Change in market risk benefits				12
Future policy benefits				101
Funds withheld receivable				(132)
Other, net				12
Net cash provided by (used in) operating activities				$ 0