Jackson National Life Insurance POS AM 10 May 23 2022 FY Prospectus update (post-effective amendment) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2022
Cover [Abstract]
Entity Registrant Name	JACKSON NATIONAL LIFE INSURANCE COMPANY
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-1659835
Entity Address, Address Line One	1 Corporate Way
Entity Address, City or Town	Lansing
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48951
City Area Code	517
Local Phone Number	381-5500
Document Type	POS AM
Entity Central Index Key	0000931788
Amendment Flag	true
Amendment Description	Pre-effective amendment to the Form S-1 registration statement
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Dec. 31, 2022	Dec. 31, 2021
Investments:
Debt Securities, available-for-sale, net of allowance for credit losses of $23 and $9 at December 31, 2022 and 2021, respectively (amortized cost: 2022 $48,798; 2021 $49,378)	[1]	$ 41,913,000,000	$ 51,289,000,000
Debt Securities, at fair value under fair value option	[1]	159,000,000	164,000,000
Equity securities, at fair value	[1]	359,000,000	257,000,000
Mortgage loans, net of allowance for credit losses of $95 and $94 at December 31, 2022 and 2021, respectively	[1]	10,967,000,000	11,482,000,000
Mortgage loans, at fair value under fair value option	[1]	582,000,000	0
Policy loans (including $3,419 and $3,467 at fair value under the fair value option at December 31, 2022 and 2021, respectively)	[1]	4,376,000,000	4,474,000,000
Freestanding derivative instruments	[1]	1,270,000,000	1,417,000,000
Other invested assets	[1]	2,817,000,000	2,620,000,000
Total investments	[1]	62,443,000,000	71,703,000,000
Cash and cash equivalents	[1]	3,934,000,000	1,799,000,000
Accrued investment income	[1]	501,000,000	496,000,000
Deferred acquisition costs	[1]	12,918,000,000	13,519,000,000
Reinsurance recoverable, net of allowance for credit losses of $15 and $12 at December 31, 2022 and 2021, respectively	[1]	29,076,000,000	32,877,000,000
Reinsurance recoverable on market risk benefits, at fair value	[1]	221,000,000	383,000,000
Market risk benefit assets, at fair value	[1]	4,865,000,000	1,664,000,000
Deferred income taxes, net	[1]	248,000,000	1,671,000,000
Receivables from affiliates	[1]	179,000,000	197,000,000
Other assets	[1]	731,000,000	656,000,000
Separate account assets	[1]	195,906,000,000	248,949,000,000
Total assets	[1]	311,022,000,000	373,914,000,000
Liabilities
Reserves for future policy benefits and claims payable	[1]	12,300,000,000	15,177,000,000
Other contract holder funds	[1]	57,980,000,000	58,489,000,000
Market risk benefit liabilities, at fair value	[1]	5,662,000,000	8,033,000,000
Funds withheld payable under reinsurance treaties	[1]	22,957,000,000	29,007,000,000
Long-term debt	[1]	470,000,000	494,000,000
Repurchase agreements and securities lending payable	[1]	1,045,000,000	1,586,000,000
Collateral payable for derivative instruments	[1]	689,000,000	913,000,000
Freestanding derivative instruments	[1]	2,065,000,000	41,000,000
Other liabilities	[1]	1,667,000,000	1,945,000,000
Separate account liabilities	[1]	195,906,000,000	248,949,000,000
Total liabilities	[1]	300,741,000,000	364,634,000,000
Commitments and contingencies
Equity
Common stock, (i) at December 31, 2022, common stock (formerly known as the Class A Common Stock at December 31, 2021) 1,000,000,000 shares authorized, $0.01 par value per share and 82,690,098 shares issued and outstanding (ii) at December 31, 2021, Class A Common Stock 900,000,000 shares authorized, $0.01 par value per share and 88,046,833 shares issued and outstanding and Class B Common Stock 100,000,000 shares authorized, $0.01 par value per share and 638,861 shares issued and outstanding (See Note 24)	[1]	14,000,000	14,000,000
Additional paid-in capital	[1]	5,364,000,000	5,964,000,000
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021	[1]	(3,200,000,000)	1,504,000,000
Retained earnings	[1]	8,103,000,000	1,798,000,000
Total shareholder's equity	[1]	10,281,000,000	9,280,000,000
Total liabilities and equity	[1]	$ 311,022,000,000	$ 373,914,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt securities, available for sale, allowance for credit losses	$ 23	$ 9
Debt securities, available for sale, amortized cost	48,198	49,132
Mortgage loans, allowance for credit loss	95	94
Policy loans, fair value under fair value option	3,419	3,467
Reinsurance recoverable, allowance for credit losses	15	12
Funds withheld payable under reinsurance treaties, fair value under fair value option	3,582	3,639
Accumulated other comprehensive income, tax expense (benefit)	$ (67)	$ 81
Class A common stock
Common stock, par value (in usd per share)	$ 1.15	$ 1.15
Common stock, authorized (in shares)	50,000	50,000
Common stock, issued (in shares)	12,000
Common stock, outstanding (in shares)	12,000

Consolidated Income Statements

Consolidated Income Statements - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Revenues
Fee income			$ 1,861,000	$ 1,893,000	$ 1,920,000	$ 1,997,000	$ 2,081,000	$ 2,047,000	$ 1,976,000	$ 1,890,000	$ 7,671,000	[1]	$ 7,994,000	[1]	$ 6,840,000
Premiums			22,000	30,000	26,000	31,000	30,000	30,000	31,000	31,000	109,000	[1]	122,000	[1]	157,000
Net investment income excluding funds withheld assets
Net investment income excluding funds withheld assets			378,000	335,000	355,000	398,000	493,000	472,000	450,000	537,000	1,466,000	[1]	1,952,000	[1]	2,044,000
Net investment income on funds withheld assets			317,000	313,000	364,000	260,000	304,000	299,000	294,000	291,000	1,254,000	[1]	1,188,000	[1]	792,000
Net investment income			695,000	648,000	719,000	658,000	797,000	771,000	744,000	828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Net gains (losses) on derivatives and investments:
Net gains (losses) on derivatives and investments	$ (832,000)	$ (5,367,000)	(4,198,000)	(194,000)	2,940,000	(1,566,000)	(1,698,000)	(421,000)	(388,000)	(2,839,000)	(3,018,000)	[1]	(5,346,000)	[1]	(6,894,000)
Net gains (losses) on funds withheld reinsurance treaties			(474,000)	555,000	1,077,000	1,028,000	(36,000)	(115,000)	(768,000)	898,000	2,186,000	[1]	(21,000)	[1]	440,000
Total net gains (losses) on derivatives and investments			(4,672,000)	361,000	4,017,000	(538,000)	(1,734,000)	(536,000)	(1,156,000)	(1,941,000)	(832,000)	[1]	(5,367,000)	[1]	(6,454,000)
Other income			25,000	19,000	20,000	20,000	22,000	17,000	31,000	23,000	84,000	[1]	93,000	[1]	64,000
Total revenues	9,752,000	5,982,000	(2,069,000)	2,951,000	6,702,000	2,168,000	1,196,000	2,329,000	1,626,000	831,000	9,752,000	[1]	5,982,000	[1]	3,443,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	1,035,000	904,000	246,000	240,000	261,000	288,000	155,000	280,000	214,000	255,000	1,035,000	[1]	904,000	[1]	1,313,000
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000	(26,000)	(39,000)	14,000	15,000	2,000	(15,000)	6,000	48,000	(36,000)	[1]	41,000	[1]	0
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)	(1,900,000)	(913,000)	1,184,000	(1,907,000)	(22,000)	1,066,000	1,512,000	(6,522,000)	(3,536,000)	[2]	(3,966,000)	[1]	0
Interest credited on other contract holder funds, net of deferrals and amortization	859,000	825,000	235,000	223,000	206,000	195,000	201,000	205,000	207,000	212,000	859,000	[1]	825,000	[1]	1,293,000
Interest expense			18,000	8,000	6,000	5,000	5,000	4,000	7,000	6,000	37,000	[1]	22,000	[1]	44,000
Operating costs and other expenses, net of deferrals			602,000	568,000	532,000	631,000	737,000	666,000	655,000	631,000	2,333,000	[1]	2,689,000	[1]	1,200,000
Cost of reinsurance											0	[1]	0	[1]	2,520,000
Amortization of deferred acquisition costs			297,000	304,000	308,000	316,000	319,000	327,000	328,000	331,000	1,225,000	[1]	1,305,000	[1]	(534,000)
Total benefits and expenses	1,917,000	1,820,000	(528,000)	391,000	2,511,000	(457,000)	1,397,000	2,533,000	2,929,000	(5,039,000)	1,917,000	[1]	1,820,000	[1]	5,836,000
Pretax income (loss)			(1,541,000)	2,560,000	4,191,000	2,625,000	(201,000)	(204,000)	(1,303,000)	5,870,000	7,835,000	[1]	4,162,000	[1]	(2,393,000)
Income tax expense (benefit)	1,530,000	680,000	(380,000)	661,000	854,000	395,000	(94,000)	(98,000)	(246,000)	1,118,000	1,530,000	[1]	680,000	[1]	(841,000)
Net income (loss)	$ 6,305,000	$ 3,482,000	$ (1,161,000)	$ 1,899,000	$ 3,337,000	$ 2,230,000	$ (107,000)	$ (106,000)	$ (1,057,000)	$ 4,752,000	$ 6,305,000	[2]	$ 3,482,000	[2]	$ (1,552,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 6,305	[1]	$ 3,482	[1]	$ (1,552)
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses) on securities with no credit impairment net of tax expense (benefit) of: $(915), $(592), and $413 for the years ended December 31, 2022, 2021 and 2020, respectively	(7,473)	[2]	(2,133)	[2]	1,417
Change in unrealized gains (losses) on securities with credit impairment, net of tax expense (benefit) of: $(1), $1, and $1 for the years ended December 31, 2022, 2021 and 2020, respectively	(2)	[2]	3	[2]	4
Change in current discount rate related to reserve for future policy benefits, net of tax expense (benefit) of $361 and $110 for the years ended December 31, 2022 and 2021, respectively.	1,303	[2]	397	[2]	0
Change in non-performance risk on market risk benefits, net of tax expense (benefit) of $407 and $(92) for the years ended December 31, 2022 and 2021, respectively.	1,468	[2]	(332)	[2]	0
Total other comprehensive income (loss)	(4,704)	[2]	(2,065)	[2]	1,421
Comprehensive income (loss)	$ 1,601	[2]	$ 1,417	[2]	$ (131)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Total revenues (1)	$ 9,752,000,000	[1]	$ 5,982,000,000	[1]	$ 3,443,000,000
Change in net unrealized gains (losses) on securities not impaired, tax expense (benefit)	(915,000,000)		(592,000,000)		413,000,000
Change in unrealized gains (losses) on securities for which an allowance for credit losses has been recorded, tax expense (benefit)	(1,000,000)		1,000,000		1,000,000
Change in current discount rate related to reserve for future policy benefits, net of tax expense (benefit)	361,000,000		110,000,000
Change in instrument-specific credit risk - market risk benefits, net of tax expense (benefit)	407,000,000		(92,000,000)
Operating Segments
Total revenues (1)	6,294,000,000		7,460,000,000		6,724,000,000
Operating Segments | Closed Life and Annuity Blocks
Total revenues (1)	$ 1,357,000,000		$ 1,672,000,000		$ 1,516,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions		Total		Common Stock	Additional Paid-In Capital	Shares Held In Trust	Equity Compensation Reserve	Accumulated Other Comprehensive Income	Retained Earnings	Total Stockholders' Equity	Cumulative effect of change in accounting principle Accumulated Other Comprehensive Income	Cumulative effect of change in accounting principle Retained Earnings	Cumulative effect of change in accounting principle Total Stockholders' Equity
Balance at Dec. 31, 2019				$ 14	$ 4,088	$ (4)	$ 0	$ 2,539	$ 2,528	$ 9,165		$ (55)	$ (55)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ (1,552)							(1,552)	(1,552)
Other comprehensive income (loss)		1,421						1,421		1,421
Capital contribution					500					500
Shares acquired at cost						(18)				(18)
Shares distributed at cost						18				18
Reserve for equity compensation plans							8			8
Balance at Dec. 31, 2020				14	4,588	(4)	8	3,960	921	9,487	$ (391)	$ (2,605)	$ (2,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		3,482	[1]						3,482	3,482
Other comprehensive income (loss)		(2,065)	[2]					(2,065)		(2,065)
Shares sold in connection with demerger		5			1	4
Capital contribution					1,375					1,375
Reserve for equity compensation plans							(8)			(8)
Balance at Dec. 31, 2021	[3]			14	5,964	0	0	1,504	1,798	9,280
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		3,482
Other comprehensive income (loss)		(2,065)
Balance at Jan. 01, 2022		9,280
Balance at Dec. 31, 2021	[3]			14	5,964	0	0	1,504	1,798	9,280
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		6,305	[1]						6,305	6,305
Other comprehensive income (loss)		(4,704)	[2]					(4,704)		(4,704)
Capital contribution		(600)
Balance at Dec. 31, 2022	[3]			$ 14	$ 5,364	$ 0	$ 0	$ (3,200)	$ 8,103	$ 10,281
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		6,305
Other comprehensive income (loss)		(4,704)
Balance at Jan. 01, 2023		$ 10,281
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions						12 Months Ended
		Jan. 01, 2023		Jan. 01, 2022		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)		$ 6,305		$ 3,482		$ 6,305	[1]	$ 3,482	[1]	$ (1,552)
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized losses (gains) on investments						355	[1]	(181)	[1]	(373)
Net losses (gains) on derivatives		2,663		5,527		2,663	[1]	5,527	[1]	7,267
Net losses (gains) on funds withheld reinsurance treaties						(2,186)	[1]	21	[1]	(440)
Net (gain) loss on market risk benefits		(3,536)		(3,966)		(3,536)	[1]	(3,966)	[2]	0
(Gain) loss from updating future policy benefits cash flow assumptions, net		(36)		41		(36)	[2]	41	[2]	0
Interest credited on other contract holder funds, gross		859		825		859	[1]	825	[1]	1,296
Mortality, expense and surrender charges						(530)	[1]	(553)	[1]	(593)
Amortization of discount and premium on investments						13	[1]	58	[1]	56
Deferred income tax expense (benefit)		1,572		761		1,572	[1]	761	[1]	(776)
Share-based compensation expense						118	[1]	94	[1]	44
Cash received (paid to) from reinsurance transaction						0	[1]	0	[1]	(32)
Change in:
Accrued investment income						(5)	[1]	58	[1]	35
Deferred acquisition costs		601		517		601	[1]	517	[1]	(1,503)
Funds withheld, net of reinsurance		(73)		(626)		(73)	[1]	(626)	[1]	792
Other assets and liabilities, net		(1,473)		(1,170)		(1,473)	[1]	(1,170)	[1]	(476)
Net cash provided by (used in) operating activities		4,647		4,888		4,647	[1]	4,888	[1]	3,745
Sales, maturities and repayments of:
Debt securities						11,525	[1]	18,865	[1]	29,697
Equity securities						71	[1]	35	[1]	82
Mortgage loans						1,695	[1]	1,747	[1]	1,201
Purchases of:
Debt securities						(11,030)	[1]	(13,445)	[1]	(27,851)
Equity securities						(246)	[1]	(114)	[1]	(115)
Mortgage loans						(1,816)	[1]	(2,427)	[1]	(2,189)
Settlements related to derivatives and collateral on investments						(673)	[1]	(4,837)	[1]	(5,321)
Other investing activities						111	[1]	(355)	[1]	(38)
Net cash provided by (used in) investing activities						(363)	[1]	(531)	[1]	(4,534)
Policyholders' account balances:
Deposits						18,456	[1]	20,130	[1]	19,604
Withdrawals						(25,144)	[1]	(28,688)	[1]	(23,060)
Net transfers to separate accounts						5,685	[1]	2,664	[1]	2,560
Proceeds from (payments on) repurchase agreements and securities lending						(541)	[1]	473	[1]	1,100
Net proceeds from (payments on) Federal Home Loan Bank notes						0	[1]	(380)	[1]	80
Net proceeds from (payments on) debt						(5)	[1]	10	[1]	14
Disposition of shares held in trust at cost, net						0	[1]	5	[1]	0
Capital contribution from (return of capital to) Parent						(600)	[1]	1,375	[1]	500
Net cash provided by (used in) financing activities						(2,149)	[1]	(4,411)	[1]	798
Net increase (decrease) in cash and cash equivalents						2,135	[1]	(54)	[1]	9
Cash and cash equivalents, at beginning of period		$ 3,934	[1]	$ 1,799	[1]	1,799	[1]	1,853	[1]	1,844
Total cash and cash equivalents, at end of period	[1]					3,934		1,799		1,853
Supplemental cash flow information
Income taxes paid (received)						(2)	[1]	(390)	[1]	(4)
Interest paid						37	[1]	21	[1]	26
Non-cash investing activities
Debt securities acquired from exchanges, payments-in-kind, and similar transactions						504	[1]	369	[1]	417
Other invested assets acquired from stock splits and stock distributions						$ 88	[1]	$ 99	[1]	$ 4
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Jackson National Life Insurance Company (the “Company” or “Jackson”) is wholly-owned by Brooke Life Insurance Company (“Brooke Life” or the “Parent”), which is wholly-owned by Jackson Financial Inc. (“Jackson Financial”). Jackson Financial, a Delaware corporation, was a majority-owned subsidiary of Prudential plc (“Prudential”), London, England. As described below under "Other," Jackson Financial's demerger from Prudential was completed on September 13, 2021 ("Demerger"), and Jackson Financial is a stand-alone United States ("U.S.") public company. Jackson, together with its New York life insurance subsidiary, is licensed to sell group and individual annuity products (including immediate, registered index-linked, deferred fixed, fixed index and variable annuities) and individual life insurance products, including variable universal life, in all 50 states and the District of Columbia. Jackson also participates in the institutional products market through the issuance of guaranteed investment contracts (“GICs”), funding agreements and medium term note funding agreements. The Consolidated Financial Statements include accounts, after the elimination of intercompany accounts and transactions, of the following: • Life insurers: Jackson and its wholly-owned subsidiaries Jackson National Life Insurance Company of New York (“JNY”), Squire Reassurance Company LLC (“Squire Re”), Squire Reassurance Company II, Inc. (“Squire Re II”) and VFL International Life Company SPC, LTD; • Indirect wholly-owned broker-dealer, subsidiary, Jackson National Life Distributors, LLC; • Indirect, wholly-owned investment management and investment advisor subsidiary, Jackson National Asset Management, LLC; • PGDS (US One) LLC (“PGDS”), an indirect wholly-owned subsidiary that provides certain services to Jackson and certain current and former affiliates; • Other insignificant wholly-owned subsidiaries; and • Other insignificant partnerships, limited liability companies and variable interest entities (“VIEs”) in which Jackson is deemed the primary beneficiary. Other On August 6, 2021, Jackson Financial's Class A Common Stock was registered on a Form 10 registration statement ("Form 10") filed with the U.S. Securities and Exchange Commission (the "SEC") and became effective under the Securities Exchange Act of 1934, as amended. The Demerger described in the Form 10 was consummated on September 13, 2021. As of December 31, 2022, Prudential retained 9.2% share ownership of Jackson Financial. On June 18, 2020, the Company announced that it had entered into a funds withheld coinsurance agreement with Athene Life Re Ltd. (“Athene”) effective June 1, 2020 to reinsure on 100% quota share basis, a block of Jackson’s in-force fixed and fixed index annuity product liabilities in exchange for a $1.2 billion ceding commission (the "Athene Reinsurance Agreement"). In addition, Jackson Financial entered into an investment agreement with Athene, pursuant to which Athene invested $500 million of capital in return for a 9.9% voting interest corresponding to a 11.1% economic interest in Jackson Financial. In August 2020, Jackson Financial made a $500 million capital contribution to Jackson. As of December 31, 2022, Athene beneficially owned 1.9% of Jackson Financial's outstanding shares. We continue to monitor developments related to the COVID-19 pandemic. The COVID-19 pandemic caused significant economic and financial turmoil in the U.S. and around the world. There has been a steady resumption of activity during 2022; however, at this time it is not possible to estimate the long-term effectiveness of any therapeutic treatments and vaccines for COVID-19, or their efficacy with respect to current or future variants or mutations of COVID-19, or the longer-term effects that the COVID-19 pandemic could have on our business. The extent to which the COVID-19 pandemic impacts our business, results of operations, financial condition and cash flows will depend on future developments that are highly uncertain and cannot be predicted. The Company implemented business continuity plans that already were in place to ensure the availability of services for our customers, work at home capabilities for our associates, where appropriate, and other ongoing risk management activities. The Company had associates, as needed or voluntarily, in our offices during this time, as perm itted by local and state restrictions. The Company rolled out a broader “return to office plan” for all associate s, and since September 2022, required some associates to return to the office five days a week. A ssociate s below director level remain on an “office-centric” h ybrid schedule between in-office and remote working arrangements. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Intercompany accounts and transactions have been eliminated upon consolidation. The Company adopted Accounting Standards Update (“ASU”) 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts,” (“LDTI”) effective January 1, 2023, with a transition date of January 1, 2021. The accompanying Consolidated Financial Statements have been recast as compared to the consolidated financial statements previously filed with the Company's registration statement on Form S-1 (registration nos. 333-268090, 333-249750, 333-249766, and 333-268101) filed with the SEC on April 17, 2023, to reflect the adoption of LDTI, which includes changes to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity as of the transition date of January 1, 2021. Our financial statements for the year ended December 31, 2020 are still presented on the basis of accounting effective prior to the adoption of LDTI. See Note 2 of the Notes to Consolidated Financial Statements for further description of the adoption of this change in accounting principle. Certain amounts in the Notes to Consolidated Financial Statements have been reclassified to conform to the recast presentation as discussed above. Use of Estimates The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: • Valuation of investments and derivative instruments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is necessary; • Assessments as to whether certain entities are variable interest entities, the existence of reconsideration events and the determination of which party, if any, should consolidate the entity; • Assumptions used in calculating policy reserves and liabilities and deferred acquisition costs including policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; • Assumptions as to future earnings levels being sufficient to realize deferred tax benefits; • Estimates related to expectations of credit losses on certain financial assets and off-balance sheet exposures; • Assumptions and estimates associated with the Company’s tax positions, including an estimate of the dividends received deduction, which impact the amount of recognized tax benefits recorded by the Company; • Assumptions used in calculating the value of guaranteed benefits, including those classified as market risk benefits subsequent to the adoption of LDTI, including policyholder behavior, mortality rates, and capital market assumptions; • Subsequent to the adoption of LDTI, assumptions impacting the expected term used in the calculation of amortization of deferred acquisition costs, including policyholder behavior and mortality rates; and • Prior to the adoption of LDTI, assumptions impacting estimated future gross profits used in the calculation of amortization of deferred acquisition costs, including policyholder behavior, mortality rates, expenses, projected hedging costs, investment returns and policy crediting rates. These estimates and assumptions are based on management’s best estimates and judgments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors deemed appropriate. As facts and circumstances dictate, these estimates and assumptions may be adjusted. Since future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in estimates, including those resulting from continuing changes in the economic environment, will be reflected in the Consolidated Financial Statements in the periods the estimates are changed. Revision of Prior Period Financial Statements In 2022, the Company identified errors related to the classification of certain balances and amounts in the line items of the Consolidated Balance Sheets and Consolidated Income Statements. These errors resulted in the revision of balances and amounts related to deferred sales inducement assets, liabilities for certain life-contingent annuities, sub-advisor fee expenses, and other operating expense items that impacted previously issued Consolidated Financial Statements. The impact of these errors to the current and the prior periods' Consolidated Financial Statements were not considered to be material and had no impact on shareholder's equity or net income (loss). However, to improve the consistency and comparability of the financial statements, management revised the financial statements and related disclosures in this Annual Report. See Note 24 to the Notes to Consolidated Financial Statements for details of the revisions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The following table identifies our significant accounting policies presented in other Notes to Consolidated Financial Statements: Investments* Note 4 Derivatives and Hedge Accounting* Note 5 Fair Value Measurements (Post-Adoption of LDTI Accounting Policies specifically for MRBs) Note 6 Deferred Acquisition Costs (Includes Pre-Adoption and Post-Adoption of LDTI Accounting Policies) Note 7 Reinsurance* Note 8 Reserves for Future Policy Benefits and Claims Payable (Post-Adoption of LDTI Accounting Policies) Note 9 Other Contract Holder Funds (Post-Adoption of LDTI Accounting Policies) Note 10 Separate Account Assets and Liabilities* Note 11 Market Risk Benefits (Post-Adoption of LDTI Accounting Policies) Note 12 Long-Term Debt* Note 13 Income Taxes* Note 15 Commitments, Contingencies, and Guarantees* Note 16 Share-Based Compensation* Note 18 Accumulated Other Comprehensive Income (Loss)* Note 23 *No impact to the significant accounting policies presented in these Notes related to the adoption of LDTI. Other Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase. Revenue and Expense Recognition Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs. Deposits on interest-sensitive life products and investment contracts, principally deferred annuities and guaranteed investment contracts, are treated as policyholder deposits and excluded from revenue. Revenues consist primarily of investment income and charges assessed against the account value for mortality charges, surrenders, variable annuity benefit guarantees and administrative expenses. Fee income also includes revenues related to asset management fees and certain service fees. Surrender benefits are treated as repayments of the policyholder account. Annuity benefit payments are treated as reductions to the policyholder account. Death benefits in excess of the policyholder account are recognized as an expense when incurred. Expenses consist primarily of the interest credited to policyholder deposits. Acquisition expenses directly related to the successful acquisition of these contracts are deferred. Prior to the adoption of LDTI, these deferred acquisition expenses were amortized based on the recognition of gross profits over the life of the business. Subsequent to the adoption of LDTI, these deferred acquisition costs are amortized on a constant-level basis over the expected term of the contracts. Expenses not related to policy acquisition are recognized when incurred. Accounting Policies Prior to the Adoption of LDTI - Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds For traditional life insurance contracts, which include term and whole life, reserves for future policy benefits are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest, lapse and expenses, plus provisions for adverse deviations. These assumptions are not unlocked unless the reserve is determined to be deficient. Interest rate assumptions range from 2.5% to 6.0%. Lapse, mortality, and expense assumptions for recoverability are based primarily on Company experience. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contract. Group payout annuities consist of a closed block of defined benefit annuity plans. The liability for future benefits for these limited payment contracts is calculated using assumptions as of the acquisition date as to mortality and expense plus provisions for adverse deviation. In conjunction with a prior acquisition, the Company recorded a fair value adjustment at acquisition related to certain annuity and interest sensitive liability blocks of business to reflect the cost of the interest guarantees within the in-force liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate at acquisition. This adjustment was recorded in reserves for future policy benefits and claims payable. This reserve is reassessed at the end of each period, taking into account changes in the in-force block. Any resulting change in the reserve is recorded as a change in policy reserve through the Consolidated Income Statements. For interest-sensitive life contracts, liabilities approximate the policyholder’s account value, plus the remaining balance of the fair value adjustment related to previously acquired business. The liability for fixed index annuities and registered index linked annuities is based on three components: 1) the imputed value of the underlying guaranteed host contract, 2) the fair value of the embedded option component of the contract, and 3) the liability for guaranteed benefits related to the optional lifetime income rider. For fixed annuities, variable annuity fixed option, and other investment contracts, the liability is the account value plus the unamortized balance of the fair value adjustment related to previously acquired business. For payout annuities, reserves are determined under the methodology for limited-payment contracts (for those with significant life contingencies) or using a constant yield method and assumptions as of the issue date for mortality, interest rates, lapse and expenses plus provisions for adverse deviations. Accounting Policies Prior to the Adoption of LDTI - Certain Non-traditional Long-Duration Contracts and Variable Annuity Guarantees Variable Annuity Guarantees Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. Certain benefits, including non-life contingent components of guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum withdrawal benefits for life (“GMWB for Life”), guaranteed minimum accumulation benefits (“GMAB”) and the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits. Variable annuity embedded derivatives are carried at fair value on the Company’s balance sheet as a component of reserves for future policy benefits and claims payable. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. The non-life contingent component of GMWB and GMWB for Life contracts consists of those guaranteed withdrawal amounts paid to the contract holder in excess of the account value of the contract, up to the amount of the living benefit base. Withdrawal amounts paid to the contract holder in excess of the living benefit base are considered life contingent and are accounted for as insurance benefits. GMABs and non-life contingent components of GMWB and GMWB for Life contracts are recorded at fair value with changes in fair value recorded in net gains (losses) on derivatives and investments. The fair value of the reserve is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the embedded derivative a portion of rider fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. Thus, when unfavorable equity market movements cause declines in the contract holder’s account value relative to the guarantee benefit, the valuation of future expected claims would generally increase relative to the measurement performed at the inception of the contract, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). Fair values for GMWB, GMWB for Life, and GMAB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits. The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations regarding policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders, lapse, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable. At each valuation date, the fair value calculation reflects expected returns based on constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience. The fair value of a liability reflects the effect of non-performance risk. Non-performance risk includes, but may not be limited to, a reporting entity’s own credit risk. Non-performance risk is incorporated into the calculation through the adjustment of the risk-free rate curve based on spreads indicated by a blend of yields on similarly-rated peer debt and yields on Jackson Financial debt (adjusted to operating company levels). As markets change, mature and evolve and actual policyholder behavior emerges, management periodically evaluates the appropriateness of its assumptions for this component of the fair value model. The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could be significantly different than this fair value. The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (“traditional variable annuities”). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (“variable contracts with guarantees”) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (guaranteed minimum death benefits, or "GMDB"), at annuitization (GMIB), upon the depletion of funds (GMWB) or at the end of a specified period (GMAB). The assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. Liabilities for guaranteed benefits, including net embedded derivatives, are general account obligations and are reported in reserves for future policy benefits and claims payable. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income. Changes in liabilities for minimum guarantees are reported within death, other policy benefits and change in policy reserves within the Consolidated Income Statements with the exception of changes in embedded derivatives, which are included in net gains (losses) on derivatives and investments. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the Consolidated Income Statements. Fixed Index Annuities The equity-linked option associated with fixed index annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the underlying guaranteed account value growth. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets. In addition, longevity riders may be issued on fixed index annuities. The benefits for these riders are accounted for as insurance benefits similarly to the life-contingent variable annuity guaranteed benefits described above and are a component of reserves for future policy benefits and claims payable on the Company’s Consolidated Balance Sheets. RILA The equity-linked option associated with registered index linked annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the associated account value growth and policyholder benefits. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets. Changes in Accounting Principles – Adopted in Current Year In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The new guidance provides optional expedients for applying U.S. GAAP to contracts and other transactions affected by reference rate reform and is effective for contract modifications made between March 12, 2020 and December 31, 2022. If certain criteria are met, an entity will not be required to remeasure or reassess contracts impacted by reference rate reform. The practical expedient allowed by this standard was elected and is being applied prospectively by the Company as reference rate reform unfolds. The contracts modified to date met the criteria for the practical expedient and therefore had no material impact on the Company’s Consolidated Financial Statements. In December 2022, the FASB issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848” which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments are effective for all entities as of December 21, 2022. The Company will continue to evaluate the impacts of reference rate reform on contract modifications and other transactions through December 31, 2024. Changes in Accounting Principles – Reflected in these Recast Financial Statements In August 2018, the FASB issued ASU 2018-12, “Targeted Improvements to the Accounting for Long Duration Contracts,” ("LDTI") which included changes to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity. The Company adopted LDTI effective January 1, 2023, with a transition date of January 1, 2021, using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs associated therewith; and on a retrospective basis, in relation to market risk benefits ("MRBs"). Under the modified retrospective approach, the Company applied the guidance to contracts in force on the transition date on the basis of their existing carrying value, using updated future cash flow assumptions, and eliminated certain related amounts in accumulated other comprehensive income (loss) (“AOCI”). Under the full retrospective transition approach, the Company applied the guidance as of the transition date, using actual historical assumption information as of contract inception, as if the accounting principle had always been applied. Amounts reported as of and for the year ended December 31, 2020 within these recast Consolidated Financial Statements are accounted for and presented in accordance with U.S. GAAP prior to the adoption of LDTI. Amounts reported as of and for the years ended December 31, 2021 and 2022 within these recast Consolidated Financial Statements are accounted for and presented in accordance with U.S. GAAP upon the adoption of LDTI. LDTI contains four significant changes: 1. Market risk benefits: market risk benefits, a new term for certain contract features that provide for potential benefits in addition to the account balance which expose the Company to other-than-nominal market risk (for example, guaranteed benefits on annuity contracts, including guaranteed minimum withdrawal benefits and guaranteed minimum death benefits on variable annuities), are measured at fair value. Changes in fair value are recorded and presented separately within the income statement, with the exception of changes in fair value due to non-performance risk, which are recognized in other comprehensive income (loss) (“OCI”); 2. Deferred acquisition costs: deferred acquisition costs (“DAC”) are amortized on a constant-level basis, independent of profitability on the underlying business; 3. Liability for future policy benefits: annual review and, if necessary, update of cash flow assumptions used to measure the liability for future policy benefits for nonparticipating traditional and limited-payment insurance contracts is required. These liabilities are discounted using an upper-medium grade fixed income instrument yield which is updated quarterly, with related changes in the liability recognized in OCI; and 4. Enhanced disclosures: enhanced disclosures, including disaggregated roll-forwards of certain balance sheet accounts that provide information about actual and expected cash flows, as well as information about significant inputs, judgments, assumptions and methods used in measurement, are required. The enhanced disclosures are intended to improve the ability of users of the financial statements to evaluate the timing, amount, and uncertainty of cash flows arising from long-duration contracts. The adoption of LDTI resulted in a decrease in total shareholder's equity of $3.0 billion as of the transition date of January 1, 2021, comprised of a reduction in AOCI of $0.4 billion and a reduction in retained earnings of $2.6 billion. The primary drivers for this impact to total equity included: 1. the classification of certain benefits as market risk benefits (“MRB”) which were remeasured at fair value as of the transition date. The resulting change in the value of these benefits at the transition date, net of the related deferred tax effect, is recognized in retained earnings, with the exception of the cumulative effect of changes in the non-performance risk, net of the related deferred tax effect, which is recognized in AOCI; 2. changes to the discount rate used to measure liabilities for future policyholder benefits which, under LDTI, are remeasured each reporting period using current upper-medium grade fixed-income instrument yields, which are generally considered to be those on single-A rated public corporate debt. The cumulative effect of the remeasurement of these liabilities using the transition date discount rate, net of the related deferred tax effect, is recognized in AOCI.; and 3. the removal of certain shadow adjustments previously recorded in AOCI related to the impact of unrealized gains (losses) on investments that were included in the estimated gross profit amortization calculation for deferred acquisition costs, which are no longer recognized upon the adoption of LDTI. The following table presents the effect of transition adjustments on shareholder's equity due to the adoption of LDTI (in millions): January 1, 2021 Accumulated other Retained earnings comprehensive income Deferred acquisition costs $ — $ 102 Reinsurance recoverable on market risk benefits — (35) Reserves for future policy benefits and claims payable 97 143 Market risk benefits (2,701) (601) Total $ (2,604) $ (391) The following table presents amounts previously reported as of December 31, 2020, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of January 1, 2021 (in millions). As Previously Effect of As of Reported Changes 1/1/2021 Assets Deferred acquisition costs $ 13,896 $ 140 $ 14,036 Reinsurance recoverable, net of allowance for credit losses 35,311 (155) 35,156 Reinsurance recoverable on market risk benefits, at fair value — 472 472 Market risk benefit assets, at fair value — 690 690 Deferred income taxes, net 1,036 824 1,860 Other assets 861 1 862 Total assets $ 351,538 $ 1,972 $ 353,510 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 22,490 $ (5,716) $ 16,774 Other contract holder funds 63,349 (7) 63,342 Market risk benefit liabilities, at fair value — 10,690 10,690 Total liabilities 342,051 4,967 347,018 Equity Accumulated other comprehensive income, net of tax expense 3,960 (391) 3,569 Retained earnings 921 (2,604) (1,683) Total shareholder's equity 9,487 (2,995) 6,492 Total liabilities and equity $ 351,538 $ 1,972 $ 353,510 Liability for future policy benefits For the liability for future policy benefits, the net transition adjustment is related to the difference in the discount rate used pre-transition and the discount rate at January 1, 2021. The discount rate used to measure the liability at transition was generally lower than the rates used to measure the liability prior to the adoption of LDTI. Additionally, at transition, where net premiums exceeded gross premiums at the cohort level, the Company set net premiums equal to gross premiums and recognized the resulting increase in the liability for future policy benefits as an adjustment to opening retained earnings. The following table presents the impact of the adoption of LDTI, as of the transition date, on reserves for future policy benefits and claims payable (in millions): Payout Closed Closed Annuities Block Life Block Annuity Total Reserves for future policy benefits at December 31, 2020 $ 1,143 $ 5,809 $ 5,328 $ 12,280 Adjustment for loss contracts under the modified retrospective approach 4 15 18 37 Effect of remeasurement of liability at current discount rates 143 560 997 1,700 Reserves for future policy benefits at January 1, 2021 $ 1,290 $ 6,384 $ 6,343 $ 14,017 Other future policy benefits and claims payable 2,757 Reserves for future policy benefits and claims payable at January 1, 2021 $ 16,774 The following table presents the transition date reclassifications and adjustments to reserves for future policy benefits by category resulting from the adoption of LDTI (in millions): Reserve for future policy benefits Other (1) Total Reserve for future policy benefits and claims payable at December 31, 2020 $ 12,280 $ 10,210 $ 22,490 Adjustments for LDTI transition 1,737 (7,453) (5,716) Reserve for future policy benefits and claims payable at January 1, 2021 $ 14,017 $ 2,757 $ 16,774 (1) Includes variable annuity embedded derivatives that were reclassed to market risk benefits. The following table presents the impact of the adoption of LDTI, as of the transition date, on Closed Block Life additional liabilities for universal life-type contracts (in millions): Closed Block Life Balance, December 31, 2020 $ 1,157 Adjustment for reversal of AOCI adjustments 28 Adjustment for cumulative effect of adoption of LDTI — Balance, January 1, 2021 $ 1,185 Market risk benefits For market risk benefits, the net transition adjustment relates to the measurement of some guaranteed benefit features at fair value that were previously measured using an insurance accrual model. The measurement of these features at fair value includes use of generally lower discount rates and lower assumed future fund performance relative to their previous measurement, as well as inclusion of risk margins, all of which lead to a generally higher fair value balance relative to the carrying value prior to transition to LDTI. The transition adjustment to AOCI for market risk benefits relates to the effect of changes in the non-performance risk between the contract issuance date and the transition date. The remaining difference between the carrying value under the insurance accrual model prior to transition to LDTI and the fair value measured at transition was recorded as an adjustment to retained earnings as of the transition date. The following table presents the impact of the adoption of LDTI, as of the transition date, on market risk benefits, net (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 7,306 $ 74 $ 7,380 Adjustment for reversal of AOCI adjustments (27) (48) (75) Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date (743) (6) (749) Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs 3,372 72 3,444 Balance, January 1, 2021 - Market risk benefits, net at fair value $ 9,908 $ 92 $ 10,000 Deferred acquisition costs For deferred acquisition costs, at transition to LDTI, the Company removed shadow adjustments previously recorded in AOCI for the impact of unrealized gains and losses that were included in the estimated gross profit amortization calculation prior to the adoption of LDTI. The following table presents the impact of the adoption of LDTI, as of the transition date, on deferred acquisition costs (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Deferred acquisition costs $ 13,725 $ 171 $ 13,896 Adjustment for reversal of AOCI adjustments 151 (11) 140 Balance, January 1, 2021 - Deferred acquisition costs $ 13,876 $ 160 $ 14,036 Reinsurance recoverable The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable (in millions) : Total Balance, December 31, 2020 $ 35,311 Reclass of carrying amount of MRBs under prior guidance (408) Adjustment for loss contracts under the modified retrospective approach — Effect of remeasurement of liability at current discount rate 253 Balance, January 1, 2021 $ 35,156 The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable on market risk benefits at fair value (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 340 $ 68 $ 408 Adjustment for reversal of AOCI adjustments — (47) (47) Cumulative difference between 12/31/2020 carrying amount and fair value measurement for the MRBs 28 83 111 Balance, January 1, 2021 - Reinsurance recoverable on market risk benefits at fair value $ 368 $ 104 $ 472 The adoption of the standard resulted in increases in net income of $492 million and $235 million for the years ended December 31, 2022 and 2021, respectively, and also resulted in an increase (decrease) in total shareholder's equity of $233 million and $(2,756) million for the years ended December 31, 2022 and 2021, respectively. The following tables present amounts previously reported in the Consolidated Balance Sheets as of December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of December 31, 2022 and 2021 (in millions). As Previously Reported Effect of As of December 31, 2022 Changes December 31, 2022 Assets Deferred acquisition costs $ 13,407 $ (489) $ 12,918 Reinsurance recoverable, net of allowance for credit losses 29,670 (594) 29,076 Reinsurance recoverable on market risk benefits, at fair value — 221 221 Market risk benefit assets, at fair value — 4,865 4,865 Deferred income taxes, net 315 (67) 248 Other assets 734 (3) 731 Total assets $ 307,089 $ 3,933 $ 311,022 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 14,255 $ (1,955) $ 12,300 Other contract holder funds 57,986 (6) 57,980 Market risk benefit liabilities, at fair value — 5,662 5,662 Other liabilities 1,668 (1) 1,667 Total liabilities 297,041 3,700 300,741 Equity Accumulated other comprehensive income (loss), net of tax (5,311) 2,111 (3,200) Retained earnings 9,981 (1,878) 8,103 Total shareholder's equity 10,048 233 10,281 Total liabilities and equity $ 307,089 $ 3,933 $ 311,022 As Previously Reported Effect of As of December 31, 2021 Changes December 31, 2021 Assets Investments: Deferred acquisition costs $ 14,246 $ (727) $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 383 Market risk benefit assets, at fair value — 1,664 1,664 Deferred income taxes, net 909 762 1,671 Other assets 652 4 656 Total assets $ 372,120 $ 1,794 $ 373,914 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 18,654 $ (3,477) $ 15,177 Other contract holder funds 58,494 (5) 58,489 Market risk benefit liabilities, at fair value — 8,033 8,033 Other liabilities 1,946 (1) 1,945 Total liabilities 360,084 4,550 364,634 Equity Accumulated other comprehensive income (loss), net of tax 1,890 (386) 1,504 Retained earnings 4,168 (2,370) 1,798 Total shareholder's equity 12,036 (2,756) 9,280 Total liabilities and equity $ 372,120 $ 1,794 $ 373,914 The following tables present amounts previously reported in the Consolidated Income Statements for the years ended December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts for the years ended December 31, 2022 and 2021 (in millions). As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Revenues Total net gai

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has three reportable segments consisting of Retail Annuities, Institutional Products, and Closed Life and Annuity Block; plus, its Corporate and Other segment. These segments reflect how the Company’s chief operating decision maker views and manages the business. The following is a brief description of the Company’s reportable segments. Retail Annuities The Company’s Retail Annuities segment offers a variety of retirement income and savings products through its diverse suite of products, consisting primarily of variable annuities, fixed index annuities, fixed annuities, payout annuities, and registered index-linked annuities ("RILA"). These products are distributed through various wirehouses, insurance brokers and independent broker-dealers, as well as through banks and financial institutions, primarily to high net-worth investors and the mass and affluent markets. The Company’s variable annuities represent an attractive option for retirees and soon-to-be retirees, providing access to equity market appreciation and add-on benefits, including guaranteed lifetime income. A fixed index annuity is designed for investors who desire principal protection with the opportunity to participate in capped upside investment returns linked to a reference market index. The Company also provides access to guaranteed lifetime income as an add-on benefit. A fixed annuity is a guaranteed product designed to build wealth without market exposure, through a crediting rate that is likely to be superior to interest rates offered from banks or money market funds. A RILA product offers customers exposure to market returns through market index-linked investment options, subject to a cap, and offers a variety of guarantees designed to modify or limit losses. The financial results of the variable annuity business within the Company’s Retail Annuities segment are largely dependent on the performance of the contract holder account value, which impacts both the level of fees collected and the benefits paid to the contract holder. The financial results of the Company’s fixed annuities, including the fixed option on variable annuities, RILA and fixed index annuities, are largely dependent on the Company’s ability to earn a spread between earned investment rates on general account assets and the interest credited to contract holders. Institutional Products The Company’s Institutional Products consist of traditional Guaranteed Investment Contracts ("GICs"), funding agreements (including agreements issued in conjunction with the Company’s participation in the U.S. Federal Home Loan Bank ("FHLB") program) and medium-term note funding agreements. The Company’s GIC products are marketed to defined contribution pension and profit-sharing retirement plans. Funding agreements are marketed to institutional investors, including corporate cash accounts and securities lending funds, as well as money market funds, and are issued to the FHLB in connection with its program. The financial results of the Company’s institutional products business are primarily dependent on the Company’s ability to earn a spread between earned investment rates on general account assets and the interest credited on GICs and funding agreements. Closed Life and Annuity Blocks The Company's Closed Life and Annuity Blocks segment is primarily composed of blocks of business that have been acquired since 2004. The segment includes various protection products, primarily whole life, universal life, variable universal life, and term life insurance products, as well as fixed, fixed index, and payout annuities. The Closed Life and Annuity Blocks segment also includes a block of group payout annuities that we assumed from John Hancock Life Insurance Company (USA) and John Hancock Life Insurance Company of New York through reinsurance transactions in 2018 and 2019, respectively. The Company historically offered traditional and interest-sensitive life insurance products but discontinued new sales of life insurance products in 2012, as we believe opportunistically acquiring mature blocks of life insurance policies is a more efficient means of diversifying our in-force business than selling new life insurance products. The profitability of the Company’s Closed Life and Annuity Blocks segment is largely driven by its historical ability to appropriately price its products and purchase appropriately priced blocks of business, as realized through underwriting, expense and net gains (losses) on derivatives and investments, and the ability to earn an assumed rate of return on the assets supporting that business. Corporate and Other The Company’s Corporate and Other segment primarily consists of unallocated corporate income and expenses. The Corporate and Other segment also includes certain eliminations and consolidation adjustments. Segment Performance Measurement Segment operating revenues and pretax adjusted operating earnings are non-GAAP financial measures that management believes are critical to the evaluation of the financial performance of the Company’s segments. The Company uses the same accounting policies and procedures to measure segment pretax adjusted operating earnings as used in its reporting of consolidated net income. Its primary measure is pretax adjusted operating earnings, which is defined as net income recorded in accordance with U.S. GAAP, excluding certain items that may be highly variable from period to period due to accounting treatment under U.S. GAAP, or that are non-recurring in nature, as well as certain other revenues and expenses which are not considered to drive underlying performance. Operating revenues and pretax adjusted operating earnings should not be used as a substitute for revenues and net income as calculated in accordance with U.S. GAAP. Pretax adjusted operating earnings equals net income adjusted to eliminate the impact of the following items: 1. Net Hedging Results: Comprised of: (i) fees attributed to guaranteed benefits; (ii) changes in the fair value of freestanding derivatives used to manage the risk associated with market risk benefits and other guaranteed benefit features; (iii) the movements in reserves, market risk benefits, guaranteed benefit features accounted for as embedded derivative instruments, and related claims and benefit payments; (iv) amortization of the balance of unamortized deferred acquisition costs at the date of transition to current accounting guidance on January 1, 2021 associated with items excluded from pretax adjusted operating earnings prior to transition; and (v) the impact on the valuation of Guaranteed Benefits and Net Hedging Results arising from changes in underlying actuarial assumptions. These items are excluded from pretax adjusted operating earnings as they may vary significantly from period to period due to near-term market conditions and therefore are not directly comparable or reflective of the underlying performance of our business. We believe this approach appropriately removes the impact to both revenue and related expenses associated with Guaranteed Benefits and Net Hedging Results and provides investors a better picture of the drivers of our underlying performance. 2. Net Realized Investment Gains and Losses: Comprised of: (i) realized investment gains and losses associated with the periodic sales or disposals of securities, excluding those held within our trading portfolio; and (ii) impairments of securities, after adjustment for the non-credit component of the impairment charges. These items are excluded from pretax adjusted operating earnings as they may vary significantly from period to period due to near-term market conditions and therefore are not directly comparable or reflective of the underlying performance of our business. We believe this approach provides investors a better picture of the drivers of our underlying performance. 3. Change in Value of Funds Withheld Embedded Derivative and Net investment income on funds withheld assets: Comprised of: (i) the change in fair value of funds withheld embedded derivatives; and (ii) net investment income on funds withheld assets related to funds withheld reinsurance transactions. These items are excluded from pretax adjusted operating earnings as they are not reflective of the underlying performance of our business. We believe this approach provides investors a better picture of the drivers of our underlying performance. 4. Other items : Comprised of: (i) the impact of investments that are consolidated in our financial statements due to U.S. GAAP accounting requirements, such as our investments in collateralized loan obligations ("CLOs"), but for which the consolidation effects are not consistent with our economic interest or exposure to those entities, and (ii) one-time or other non-recurring items, such as costs relating to our separation from Prudential. These items are excluded from pretax adjusted operating earnings as they are not reflective of the underlying performance of our business. We believe this approach provides investors a better picture of the drivers of our underlying performance. 5. Income taxe s. Set forth in the tables below is certain information with respect to the Company’s segments, as described above (in millions, recast for the adoption of LDTI for 2022 and 2021): For the Year Ended December 31, 2022 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,108 $ 474 $ — $ — $ 4,582 Premiums 10 111 — — 121 Net investment income 394 706 312 55 1,467 Income (loss) on operating derivatives 17 31 (22) 14 40 Other income 42 35 — 7 84 Total Operating Revenues 4,571 1,357 290 76 6,294 Operating Benefits and Expenses Death, other policy benefits and change in policy 63 706 — — 769 Interest credited on other contract holder funds, net 246 412 201 — 859 (Gain) loss from updating future policy benefits cash flow assumptions, net (6) (24) — — (30) Interest expense 32 — 5 — 37 Operating costs and other expenses, net of deferrals 2,174 129 5 25 2,333 Amortization of deferred acquisition costs 557 11 — — 568 Total Operating Benefits and Expenses 3,066 1,234 211 25 4,536 Pretax Adjusted Operating Earnings $ 1,505 $ 123 $ 79 $ 51 $ 1,758 For the Year Ended December 31, 2021 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,636 $ 492 $ — $ — $ 5,128 Premiums 15 119 — — 134 Net investment income 686 950 260 56 1,952 Income (loss) on operating derivatives 52 72 (3) 32 153 Other income 47 39 — 7 93 Total Operating Revenues 5,436 1,672 257 95 7,460 Operating Benefits and Expenses Death, other policy benefits and change in policy 6 731 — — 737 Interest credited on other contract holder funds, net 218 419 188 — 825 (Gain) loss from updating future policy benefits cash flow assumptions, net (8) 80 — — 72 Interest expense 22 — — — 22 Operating costs and other expenses, net of deferrals 2,455 181 5 48 2,689 Amortization of deferred acquisition costs 556 12 — — 568 Total Operating Benefits and Expenses 3,249 1,423 193 48 4,913 Pretax Adjusted Operating Earnings $ 2,187 $ 249 $ 64 $ 47 $ 2,547 For the Year Ended December 31, 2020 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 3,806 $ 513 $ — $ — $ 4,319 Premiums 27 143 — — 170 Net investment income 947 776 355 (34) 2,044 Income (loss) on operating derivatives 48 58 — 21 127 Other income 30 26 1 7 64 Total Operating Revenues 4,858 1,516 356 (6) 6,724 Operating Benefits and Expenses Death, other policy benefits and change in policy 142 857 — — 999 Interest credited on other contract holder funds, net 469 436 250 — 1,155 Interest expense 28 — 16 — 44 Operating costs and other expenses, 2,172 190 5 36 2,403 Amortization of deferred acquisition costs 55 17 — 20 92 Total Operating Benefits and Expenses 2,866 1,500 271 56 4,693 Pretax Adjusted Operating Earnings $ 1,992 $ 16 $ 85 $ (62) $ 2,031 Intersegment eliminations in the above tables are included in the Corporate and Other segment. These include the elimination of investment income between Retail Annuities and the Corporate and Other segment. The following table summarizes the reconciling items from the non-GAAP measure of operating revenues to the U.S. GAAP measure of total revenues attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Total operating revenues 6,294 7,460 $ 6,724 Fees attributed to variable annuity benefit reserves 3,077 2,854 2,509 Net gains (losses) on derivatives and investments (873) (5,520) (6,582) Net investment income on funds withheld assets 1,254 1,188 792 Total revenues (1) $ 9,752 $ 5,982 $ 3,443 (1) Substantially all the Company's revenues originated in the U.S. There were no individual customers that exceeded 10% of total revenues. The following table summarizes the reconciling items from the non-GAAP measure of operating benefits and expenses to the U.S. GAAP measure of total benefits and expenses attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Total operating benefits and expenses 4,536 4,913 $ 4,693 Net (gain) loss on market risk benefits (3,536) (3,966) — Benefits attributed to guaranteed benefit features 261 137 150 Amortization of DAC related to non-operating revenues and expenses 656 736 (1,253) SOP 03-1 reserve movements — — 164 Athene reinsurance transaction — — 2,082 Total benefits and expenses $ 1,917 $ 1,820 $ 5,836 The following table summarizes the reconciling items, net of deferred acquisition costs, from the non-GAAP measure of pretax adjusted operating earnings to the U.S. GAAP measure of net income attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Pretax adjusted operating earnings $ 1,758 $ 2,547 $ 2,031 Non-operating adjustments income (loss): Fees attributable to guarantee benefit reserves 3,077 2,854 2,509 Net movement in freestanding derivatives (2,743) (5,675) (4,661) Market risk benefits gains (losses) 3,536 3,966 — Net reserve and embedded derivative movements (222) (141) (3,184) Amortization of DAC associated with non-operating items (655) (736) 1,261 Assumption changes — — 128 Guaranteed benefits and net hedging results 2,993 268 (3,947) Net realized investment gains (losses) (356) 180 373 Net realized investment gains (losses) on funds withheld assets 2,186 (21) 440 Net investment income on funds withheld assets 1,254 1,188 792 Loss on funds withheld reinsurance transaction — — (2,082) Pretax income (loss) 7,835 4,162 (2,393) Income tax expense (benefit) 1,530 680 (841) Net income (loss) $ 6,305 $ 3,482 $ (1,552) The following table summarizes total assets by segment (in millions recast for the adoption of LDTI): December 31, 2022 2021 Retail Annuities $ 269,755 $ 328,227 Closed Life and Annuity Blocks 28,927 32,311 Institutional Products 10,175 10,712 Corporate and Other 2,165 2,664 Total Assets $ 311,022 $ 373,914

Investments

Investments	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments are comprised primarily of fixed-income securities and loans, primarily publicly-traded corporate and government bonds, asset-backed securities and mortgage loans. Asset-backed securities include mortgage-backed and other structured securities. The Company generates the majority of its general account deposits from interest-sensitive individual annuity contracts, life insurance products and institutional products on which it has committed to pay a declared rate of interest. The Company's strategy of investing in fixed-income securities and loans aims to ensure matching of the asset yield with the amounts credited to the interest-sensitive liabilities and to earn a stable return on its investments. Debt Securities Debt securities consist primarily of bonds, notes, and asset-backed securities. Acquisition discounts and premiums on debt securities are amortized into investment income through call or maturity dates using the effective interest method. Discounts and premiums on asset-backed securities are amortized over the estimated redemption period. Certain asset-backed securities for which the Company might not recover substantially all of its recorded investment are accounted for on a prospective basis according to changes in the estimated future cash flows. Debt securities are generally classified as available-for-sale and are carried at fair value. For debt securities in an unrealized loss position, for which the Company deems an impairment necessary, the amortized cost may be written down to fair value through net gains (losses) on derivatives and investments, or an allowance for credit loss (“ACL”) may be recorded along with a charge to net gains (losses) on derivatives and investments. The following table sets forth the composition of the fair value of debt securities at December 31, 2022 and 2021, classified by rating categories as assigned by nationally recognized statistical rating organizations (“NRSRO”), the National Association of Insurance Commissioners (“NAIC”), or if not rated by such organizations, the Company’s affiliated investment advisor. The Company uses the second lowest rating by an NRSRO when NRSRO ratings are not equivalent and, for purposes of the table, if not otherwise rated by a NRSRO, the NAIC rating of a security is converted to an equivalent NRSRO-style rating. At December 31, 2022 and 2021, the carrying value of investments rated by the Company’s affiliated investment advisor totaled $32 million and $13 million, respectively. Percent of Total Debt December 31, Investment Rating 2022 2021 AAA 18.0% 15.0% AA 8.8% 10.0% A 31.5% 29.4% BBB 38.4% 42.0% Investment grade 96.7% 96.4% BB 2.5% 2.8% B and below 0.8% 0.8% Below investment grade 3.3% 3.6% Total debt securities 100.0% 100.0% At December 31, 2022, based on ratings by NRSROs, of the total carrying value of debt securities in an unrealized loss position, 78% were investment grade, 2% were below investment grade and 20% were not rated. Unrealized losses on debt securities that were below investment grade or not rated were approximately 21% of the aggregate gross unrealized losses on available-for-sale debt securities. At December 31, 2021, based on ratings by NRSROs, of the total carrying value of debt securities in an unrealized loss position, 76% were investment grade, 2% were below investment grade and 22% were not rated. Unrealized losses on debt securities that were below investment grade or not rated were approximately 16% of the aggregate gross unrealized losses on available for sale debt securities. Corporate securities in an unrealized loss position were diversified across industries. As of December 31, 2022, the industries accounting for the largest percentage of unrealized losses included utility (16% of corporate gross unrealized losses) and healthcare (10%). The largest unrealized loss related to a single corporate obligor was $57 million at December 31, 2022. As of December 31, 2021, the industries accounting for the largest percentage of unrealized losses included financial services (16% of corporate gross unrealized losses) and consumer goods (15%). The largest unrealized loss related to a single corporate obligor was $16 million at December 31, 2021. At December 31, 2022 and 2021, the amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities, including securities carried at fair value under the fair value option, were as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 5,731 $ — $ 1 $ 1,008 $ 4,724 Other government securities 1,719 2 2 251 1,468 Public utilities 5,833 — 26 692 5,167 Corporate securities 26,532 15 59 3,671 22,905 Residential mortgage-backed 498 6 19 59 452 Commercial mortgage-backed 1,813 — — 182 1,631 Other asset-backed securities 6,231 — 8 514 5,725 Total debt securities $ 48,357 $ 23 $ 115 $ 6,377 $ 42,072 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 4,515 $ — $ 97 $ 301 $ 4,311 Other government securities 1,489 — 147 17 1,619 Public utilities 6,016 — 669 25 6,660 Corporate securities 27,817 — 1,673 236 29,254 Residential mortgage-backed 514 2 45 3 554 Commercial mortgage-backed 1,960 — 75 6 2,029 Other asset-backed securities 6,985 7 71 23 7,026 Total debt securities $ 49,296 $ 9 $ 2,777 $ 611 $ 51,453 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option. The amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities at December 31, 2022, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties. Allowance Gross Gross Amortized for Unrealized Unrealized Fair Cost (1) Credit Loss Gains Losses Value Due in 1 year or less $ 1,994 $ — $ 1 $ 7 $ 1,988 Due after 1 year through 5 years 8,739 3 14 431 8,319 Due after 5 years through 10 years 12,212 11 26 1,515 10,712 Due after 10 years through 20 years 9,144 3 46 1,655 7,532 Due after 20 years 7,726 — 1 2,014 5,713 Residential mortgage-backed 498 6 19 59 452 Commercial mortgage-backed 1,813 — — 182 1,631 Other asset-backed securities 6,231 — 8 514 5,725 Total $ 48,357 $ 23 $ 115 $ 6,377 $ 42,072 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option. As required by law in various states in which business is conducted, securities with a carrying value of $90 million and $116 million at December 31, 2022 and 2021, respectively, were on deposit with regulatory authorities. Residential mortgage-backed securities (“RMBS”) include certain RMBS that are collateralized by residential mortgage loans and are neither expressly nor implicitly guaranteed by U.S. government agencies (“non-agency RMBS”). The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value Prime $ 205 $ 4 $ 2 $ 30 $ 173 Alt-A 84 2 7 10 79 Subprime 27 — 10 1 36 Total non-agency RMBS $ 316 $ 6 $ 19 $ 41 $ 288 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value Prime $ 227 $ 1 $ 10 $ 2 $ 234 Alt-A 94 1 21 — 114 Subprime 39 — 13 — 52 Total non-agency RMBS $ 360 $ 2 $ 44 $ 2 $ 400 (1) Amortized cost, apart from carrying value for securities carried at fair value under the fair value option. The Company defines its exposure to non-agency residential mortgage loans as follows: • Prime loan-backed securities are collateralized by mortgage loans made to the highest rated borrowers. • Alt-A loan-backed securities are collateralized by mortgage loans made to borrowers who lack credit documentation or necessary requirements to obtain prime borrower rates. • Subprime loan-backed securities are collateralized by mortgage loans made to borrowers that have a FICO score of 660 or lower. The following tables summarize the amount of gross unrealized losses, fair value and the number of securities aggregated by investment category and length of time that individual debt securities have been in a continuous loss position (dollars in millions): December 31, 2022 December 31, 2021 Less than 12 months Less than 12 months Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 339 $ 2,664 38 $ 2 $ 107 16 Other government securities 174 1,258 143 17 252 23 Public utilities 507 4,265 488 18 712 92 Corporate securities 2,072 16,936 2,307 178 6,266 722 Residential mortgage-backed 43 278 195 3 174 109 Commercial mortgage-backed 136 1,414 177 5 314 37 Other asset-backed securities 291 3,531 421 22 3,250 338 Total temporarily impaired securities $ 3,562 $ 30,346 3,769 $ 245 $ 11,075 1,337 12 months or longer 12 months or longer Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 669 $ 1,386 6 $ 299 $ 3,190 7 Other government securities 77 177 23 — 4 2 Public utilities 185 513 86 7 99 8 Corporate securities 1,599 4,549 637 58 661 69 Residential mortgage-backed 16 81 94 — 11 12 Commercial mortgage-backed 46 192 31 1 30 3 Other asset-backed securities 223 1,577 174 1 11 3 Total temporarily impaired securities $ 2,815 $ 8,475 1,051 $ 366 $ 4,006 104 Total Total Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 1,008 $ 4,050 40 $ 301 $ 3,297 21 Other government securities 251 1,435 162 17 256 25 Public utilities 692 4,778 559 25 811 97 Corporate securities (1) 3,671 21,485 2,786 236 6,927 770 Residential mortgage-backed 59 359 289 3 185 121 Commercial mortgage-backed 182 1,606 206 6 344 39 Other asset-backed securities 514 5,108 584 23 3,261 341 Total temporarily impaired securities $ 6,377 $ 38,821 4,626 $ 611 $ 15,081 1,414 (1) Certain securities contain multiple lots and fit the criteria of both aging groups. Debt securities in an unrealized loss position as of December 31, 2022 did not require an impairment recognized in earnings as (i) the Company did not intend to sell these debt securities, (ii) it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost basis, and (iii) the difference in the fair value compared to the amortized cost was due to factors other than credit loss. Based upon this evaluation, the Company believes it has the ability to generate adequate amounts of cash from normal operations to meet cash requirements with a reasonable margin of safety without requiring the sale of impaired securities. As of December 31, 2022, unrealized losses associated with debt securities are primarily due to widening credit spreads or rising risk-free rates since purchase. The Company performed a detailed analysis of the financial performance of the underlying issues in an unrealized loss position and determined that recovery of the entire amortized cost of each impaired security is expected. In addition, mortgage-backed and asset-backed securities were assessed for credit impairment using a cash flow model that incorporates key assumptions including default rates, severities, and prepayment rates. The Company estimated losses for a security by forecasting performance in the underlying loans in each transaction. The forecasted loan performance was used to project cash flows to the various tranches in the structure, as applicable. The forecasted cash flows also considered, as applicable, independent industry analyst reports and forecasts, and other independent market data. Based upon this assessment of the expected credit losses of the security given the performance of the underlying collateral compared to subordination or other credit enhancement, the Company expects to recover the entire amortized cost of each impaired security. Evaluation of Available-for-Sale Debt Securities for Credit Loss For debt securities in an unrealized loss position, management first assesses whether the Company has the intent to sell, or whether it is more likely than not it will be required to sell the security before the amortized cost basis is fully recovered. If either criterion is met, the amortized cost is written down to fair value through net gains (losses) on derivatives and investments as an impairment. Debt securities in an unrealized loss position for which the Company does not have the intent to sell or is not more likely than not to sell the security before recovery to amortized cost are further evaluated to determine if the cause of the decline in fair value resulted from credit losses or other factors, which includes estimates about the operations of the issuer and future earnings potential. The credit loss evaluation may consider the following: the extent to which the fair value is below amortized cost; changes in ratings of the security; whether a significant covenant related to the security has been breached; whether an issuer has filed or indicated a possibility of filing for bankruptcy, has missed or announced it intends to miss a scheduled interest or principal payment, or has experienced a specific material adverse change that may impair its creditworthiness; judgments about an obligor’s current and projected financial position; an issuer’s current and projected ability to service and repay its debt obligations; the existence of, and realizable value of, any collateral backing the obligations; and the macro-economic and micro-economic outlooks for specific industries and issuers. In addition to the above, the credit loss review of investments in asset-backed securities includes the review of future estimated cash flows, including expected and stress case scenarios, to identify potential shortfalls in contractual payments. These estimated cash flows are developed using available performance indicators from the underlying assets including current and projected default or delinquency rates, levels of credit enhancement, current subordination levels, vintage, expected loss severity and other relevant characteristics. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against third-party sources. For mortgage-backed securities, credit losses are assessed using a cash flow model that estimates the cash flows on the underlying mortgages, using the security-specific collateral characteristics and transaction structure. The model estimates cash flows from the underlying mortgage loans and distributes those cash flows to various tranches of securities, considering the transaction structure and any subordination and credit enhancements existing in that structure. The cash flow model incorporates actual cash flows on the mortgage-backed securities through the current period and then projects the remaining cash flows using a number of assumptions, including prepayment timing, default rates and loss severity. Specifically, for prime and Alt-A RMBS, the assumed default percentage is dependent on the severity of delinquency status, with foreclosures and real estate owned receiving higher rates, but also includes the currently performing loans. These estimates reflect a combination of data derived by third parties and internally developed assumptions. Where possible, this data is benchmarked against other third-party sources. In addition, these estimates are extrapolated along a default timing curve to estimate the total lifetime pool default rate. When a credit loss is determined to exist and the present value of cash flows expected to be collected is less than the amortized cost of the security, an allowance for credit loss is recorded along with a charge to net gains (losses) on derivatives and investments, limited by the amount that the fair value is less than amortized cost. Any remaining unrealized loss after recording the allowance for credit loss is the non-credit amount and is recorded to other comprehensive income. The allowance for credit loss for specific debt securities may be increased or reversed in subsequent periods due to changes in the assessment of the present value of cash flows that are expected to be collected. Any changes to the allowance for credit loss is recorded as a provision for (or reversal of) credit loss expense in net gains (losses) on derivatives and investments. When all, or a portion, of a security is deemed uncollectible, the uncollectible portion is written-off with an adjustment to amortized cost and a corresponding reduction to the allowance for credit losses. Accrued interest receivables are presented separate from the amortized cost basis of debt securities. Accrued interest receivables that are determined to be uncollectible are written off with a corresponding reduction to net investment income. Accrued interest of nil was written off during the years ended December 31, 2022 and 2021. The roll-forward of the allowance for credit loss for available-for-sale securities by sector is as follows (in millions): December 31, 2022 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2022 $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 Additions for which credit loss was not previously recorded — 6 1 43 4 — — 54 Changes for securities with previously recorded credit loss — — (1) (10) — — (7) (18) Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — (4) — (1) — — — (5) Securities intended/required to be sold before recovery of amortized cost basis — — — (17) — — — (17) Balance at December 31, 2022 (2) $ — $ 2 $ — $ 15 $ 6 $ — $ — $ 23 December 31, 2021 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2021 $ — $ — $ — $ — $ — $ — $ 14 $ 14 Additions for which credit loss was not previously recorded — — — — 2 — — 2 Changes for securities with previously recorded credit loss — — — — — — 9 9 Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — — — — — — (16) (16) Securities intended/required to be sold before recovery of amortized cost basis — — — — — — — — Balance at December 31, 2021 (2) $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 (1) Represents purchased credit-deteriorated ("PCD") fixed maturity available-for-sale securities. (2) Accrued interest receivable on debt securities totaled $395 million and $373 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses for the years ended December 31, 2022 and 2021. Net Investment Income The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,108 $ 1,063 $ 1,579 Equity securities (25) 8 (4) Mortgage loans 284 319 365 Policy loans 70 73 79 Limited partnerships 74 559 105 Other investment income 44 14 14 Total investment income excluding funds withheld assets 1,555 2,036 2,138 Investment expenses (89) (84) (94) Net investment income excluding funds withheld assets 1,466 1,952 2,044 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Net investment income $ 2,720 $ 3,140 $ 2,836 (1) Includes unrealized gains and losses on securities for which the Company elected the fair value option. Investment income is not accrued on securities in default and otherwise where the collection is uncertain. In these cases, receipts of interest on such securities are used to reduce the cost basis of the securities. Unrealized gains (losses) included in investment income that were recognized on equity securities held were $(65) million, $2 million and $(2) million, for the years ended December 31, 2022, 2021 and 2020, respectively. Net Gains (Losses) on Derivatives and Investments Realized gains and losses on sales of investments are recognized in income at the date of sale and are determined using the specific cost identification method. The following table summarizes net gains (losses) on derivatives and investments (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 41 $ 168 $ 772 Realized losses on sale (425) (88) (195) Credit loss income (expense) (5) (10) (14) Gross impairments — — (27) Credit loss income (expense) on mortgage loans (16) 62 (61) Other (1) 50 49 (102) Net gains (losses) excluding derivatives and funds withheld assets (355) 181 373 Net gains (losses) on derivative instruments (see Note 5) (2,663) (5,527) (7,267) Net gains (losses) on derivatives and investments (3,018) (5,346) (6,894) Net gains (losses) on funds withheld reinsurance treaties (see Note 8) 2,186 (21) 440 Total net gains (losses) on derivatives and investments $ (832) $ (5,367) $ (6,454) (1) Includes the foreign currency gain or loss related to foreign denominated trust instruments supporting funding agreements. Net gains (losses) on funds withheld reinsurance treaties represents income (loss) from the sale of investments held in segregated funds withheld accounts in support of reinsurance agreements for which Jackson retains legal ownership of the underlying investments. These gains (losses) are increased or decreased by changes in the embedded derivative liability related to the Athene Reinsurance Agreement. The gains (losses) also include (i) changes in the related funds withheld payable, as all economic performance of the investments held in the segregated funds withheld accounts inure to the benefit of the reinsurers under the respective reinsurance agreements with each reinsurer, and (ii) amortization of the difference between book value and fair value of the investments as of the effective date of the reinsurance agreements with each reinsurer. The aggregate fair value of securities sold at a loss for the years ended December 31, 2022, 2021 and 2020 was $5,359 million, $2,600 million and $7,608 million, which was approximately 93%, 95% and 97% of book value, respectively. Proceeds from sales of available-for-sale debt securities were $7,959 million, $9,600 million, and $25,533 million during the years ended December 31, 2022, 2021 and 2020, respectively. There are inherent uncertainties in assessing the fair values assigned to the Company’s investments. The Company’s reviews of net present value and fair value involve several criteria including economic conditions, credit loss experience, other issuer-specific developments and estimated future cash flows. These assessments are based on the best available information at the time. Factors such as market liquidity, the widening of bid/ask spreads and a change in the cash flow assumptions can contribute to future price volatility. If actual experience differs negatively from the assumptions and other considerations used in the Consolidated Financial Statements, unrealized losses currently reported in accumulated other comprehensive income (loss) may be recognized in the Consolidated Income Statements in future periods. The Company currently has no intent to sell securities with unrealized losses considered to be temporary until they mature or recover in value and believes that it has the ability to do so. However, if the specific facts and circumstances surrounding an individual security, or the outlook for its industry sector change, the Company may sell the security prior to its maturity or recovery and realize a loss. Unconsolidated VIEs The Company invests in certain LPs and LLCs that it has concluded are VIEs. Based on the analysis of these entities, the Company is not the primary beneficiary of the VIEs as it does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. In addition, the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entities. Therefore, the Company does not consolidate these VIEs and the carrying amounts of the Company’s investments in these LPs and LLCs are recognized in other invested assets on the Consolidated Balance Sheets. Unfunded capital commitments for these investments are detailed in Note 16 of the Notes to Consolidated Financial Statements. The Company’s exposure to loss is limited to the capital invested and unfunded capital commitments related to the LPs/LLCs, which was $3,098 million and $3,347 million as of December 31, 2022 and 2021, respectively. The capital invested in an LP or LLC equals the original capital contributed, increased for additional capital contributed after the initial investment, and reduced for any returns of capital from the LP or LLC. LPs and LLCs are carried at fair value. The Company invests in certain mutual funds that it has concluded are VIEs. Based on the analysis of these entities, the Company is not the primary beneficiary of the VIEs. Mutual funds for which the Company does not have the obligation to absorb losses or the right to receive benefits that could potentially be significant to the entities are recognized in equity securities on the Consolidated Balance Sheets and were $121 million and $139 million as of December 31, 2022 and 2021, respectively. The Company’s maximum exposure to loss on these mutual funds is limited to the amortized cost for these investments. The Company makes investments in structured debt securities issued by VIEs for which it is not the manager. These structured debt securities include RMBS, Commercial Mortgage-Backed Securities ("CMBS"), and asset-backed securities ("ABS"). The Company does not consolidate the securitization trusts utilized in these transactions because it does not have the power to direct the activities that most significantly impact the economic performance of these securitization trusts. The Company does not consider its continuing involvement with these VIEs to be significant because it either invests in securities issued by the VIE and was not involved in the design of the VIE or no transfers have occurred between the Company and the VIE. The Company’s maximum exposure to loss on these structured debt securities is limited to the amortized cost of these investments. The Company does not have any further contractual obligations to the VIE. The Company recognizes the variable interest in these VIEs at fair value on the Consolidated Balance Sheets. Commercial and Residential Mortgage Loans Commercial and residential mortgage loans are generally carried at the aggregate unpaid principal balance, adjusted for any applicable unamortized discount or premium, or ACL. Acquisition discounts and premiums on mortgage loans are amortized into investment income through maturity dates using the effective interest method. Interest income is accrued on the principal balance of the loan based on the loan’s contractual interest rate. Interest income and amortization of premiums and discounts are reported in net investment income along with prepayment fees and mortgage loan fees, which are recorded as incurred. Commercial mortgage loans of $10.2 billion and $10.5 billion at December 31, 2022 and 2021, respectively, are reported net of an allowance for credit losses of $91 million and $85 million at each date, respectively. At December 31, 2022, commercial mortgage loans were collateralized by properties located in 38 states, the District of Columbia, and Europe. Accrued interest receivable on commercial mortgage loans was $39 million and $32 million at December 31, 2022 and 2021, respectively. Residential mortgage loans of $1,308 million and $939 million at December 31, 2022 and 2021, respectively, are reported net of an allowance for credit losses of $4 million and $9 million at each date, respectively. Loans were collateralized by properties located in 50 states, the District of Columbia, Mexico, and Europe. Accrued interest receivable on residential mortgage loans was $9 million and $13 million at December 31, 2022 and 2021, respectively. Mortgage Loan Concessions In response to the adverse economic impact of the COVID-19 pandemic, the Company granted concessions to certain of its commercial mortgage loan borrowers, including payment deferrals and other loan modifications. The Company has elected the option under the Coronavirus Aid, Relief, and Economic Security Act, the Consolidated Appropriations Act of 2021, and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised) not to account for or report qualifying concessions as troubled debt restructurings and does not classify such loans as past due during the payment deferral period. Additionally, in accordance with the FASB’s published response to a COVID-19 Pandemic technical inquiry, the Company continues to accrue interest income on such loans that have deferred payment. For some commercial mortgage loan borrowers (principally in the hotel and retail sectors), the Company granted concessions that were primarily interest and/or principal payment deferrals generally ranging from 6 to 14 months and, to a much lesser extent, maturity date extensions. Repayment periods are generally within one year but may extend until maturity date. Deferred commercial mortgage loan interest and principal payments were $10 million at December 31, 2022. The concessions granted had no impact on the Company’s results of operations or financial position as the Company has not granted concessions that would have been disclosed and accounted for as troubled debt restructurings. Evaluation for Credit Losses on Mortgage Loans The Company reviews mortgage loans that are not carried at fair value under the fair value option on a quarterly basis to estimate the ACL with changes in the ACL recorded in net gains (losses) on derivatives and investments. Apart from an ACL recorded on individual mortgage loans where the borrower is experiencing financial difficulties, the Company records an ACL on the pool of mortgage loans based on lifetime expected credit losses. The Company utilizes a third-party forecasting model to estimate lifetime expected credit losses at a loan level for mortgage loans. The model forecasts net operating income and property values for the economic scenario selected. The debt service coverage ratios (“DSCR”) and loan to values (“LTV”) are calculated over the forecastable period by comparing the projected net operating income and property valuations to the loan payment and principal amounts of each loan. The model utilizes historical mortgage loan performance based on DSCRs and LTV to derive probability of default and expected losses based on the economic scenario that is similar to the Company’s expectations of economic factors such as unemployment, gross domestic product growth, and interest rates. The Company determined the forecastable period to be reasonable and supportable for a period of two years beyond the end of the reporting period. Over the following one-year period, the model reverts to the historical performance of the portfolio for the remainder of the contractual term of the loans. In cases where the Company does not have an appropriate length of historical performance, the relevant historical rate from an index or the lifetime expected credit loss calculated from the model may be used. Unfunded commitments are included in the model and an ACL is determined accordingly. Credit loss estimates are pooled by property type and the Company does not include accrued interest in the determination of ACL. For individual loans or for types of loans for which the third-party model is deemed not suitable, the Company utilizes relevant current market data, industry data, and publicly available historical loss rates to calculate an estimate of the lifetime expected credit loss. Mortgage loans on real estate deemed uncollectible are charged against the ACL, and subsequent recoveries, if any, are credited to the ACL, limited to the aggregate of amounts previously charged-off and expected to be charged-off. Mortgage loans on real estate are presented net of the allowance for credit losses on the Co

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Freestanding Derivative Instruments The Company enters into financial derivative transactions, including swaps, put swaptions, futures and options to reduce and manage business risks. These transactions manage the risk of a change in the value, yield, price, cash flows, credit quality or degree of exposure with respect to assets, liabilities or future cash flows that the Company has acquired or incurred. The Company does not account for freestanding derivatives as either fair value or cash flow hedges as might be permitted if specific hedging documentation requirements were followed. As a result, freestanding derivatives are carried at fair value on the balance sheet with settlements and changes in fair value recorded in net gains (losses) on derivatives and investments. With respect to the Company’s interest rate swaps, total return swaps, and cross-currency swaps, the Company records the income related to periodic interest payment settlements within net gains (losses) on derivatives and investments. Although the Company does not account for these as cash flow hedges, the income from these settlements is considered operating income due to the cash settlement nature and is reported, as such, within the Company’s segment related disclosure within pretax adjusted operating earnings. The Company manages the potential credit exposure for over-the-counter derivative contracts through evaluation of the counterparty credit standing, collateral agreements, and master netting agreements. The Company is exposed to credit-related losses in the event of nonperformance by counterparties, however, it does not anticipate nonperformance. There were no charges due to nonperformance by derivative counterparties in 2022, 2021 or 2020. Embedded Derivatives—Product Liabilities Certain product features, including the index-linked crediting option offered in connection with fixed index annuities and RILAs issued by the Company, are classified as embedded derivatives. These embedded derivatives are separated for accounting purposes and are carried at fair value. These embedded derivatives are reported within other contract holder funds in the Consolidated Balance Sheets consistent with the host contract. The results from changes in value of these embedded derivatives are reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements. See Note 10 of the Notes to Consolidated Financial Statements for additional information on the accounting policies for these embedded derivatives within fixed index and registered index-linked annuities. Embedded Derivatives—Funds Withheld Reinsurance Agreements The Company has recorded an embedded derivative liability related to the Athene Reinsurance Agreement (the “Athene Embedded Derivative”) in accordance with FASB ASC 815-15-55-107 and 108, “Derivatives and Hedging Case B: Reinsurer’s Receivable Arising from a Modified Coinsurance Arrangement,” as Jackson’s obligation under the Reinsurance Agreement is based on the total return of investments in a segregated funds withheld account rather than Jackson’s own creditworthiness. As the Reinsurance Agreement transfers the economics of the investments in the segregated funds withheld account to Athene, it will receive an investment return equivalent to owning the underlying assets. At inception of the Reinsurance Agreement, the Athene Embedded Derivative was valued at zero. Additionally, the inception fair value of the investments in the segregated funds withheld account differed from their book value and, accordingly, the amortization of this difference is reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements, while the investments are held. Subsequent to the effective date of the Reinsurance Agreement, the Athene Embedded Derivative is measured at fair value with changes reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements. The Athene Embedded Derivative Liability is included in funds withheld payable under reinsurance treaties in the Consolidated Balance Sheets. See “Athene Reinsurance” in Note 8 of the Notes to the Consolidated Financial Statements for additional information on the Athene Reinsurance Transaction. A summary of the aggregate contractual or notional amounts and fair values of the Company’s freestanding and embedded derivative instruments are as follows (in millions, recast for the adoption of LDTI): December 31, 2022 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset Freestanding derivatives Cross-currency swaps $ 1,825 $ 73 $ 104 $ (31) Equity index call options 17,500 106 — 106 Equity index futures (2) 19,760 — — — Equity index put options 30,500 958 — 958 Interest rate swaps 7,728 5 231 (226) Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 25,000 — 1,711 (1,711) Interest rate futures (2) 105,249 — — — Total return swaps 739 31 — 31 Total freestanding derivatives 209,801 1,173 2,046 (873) Embedded derivatives Fixed index annuity embedded derivatives (3) N/A — 931 (931) Registered index linked annuity embedded derivatives (3) N/A — 205 (205) Total embedded derivatives N/A — 1,136 (1,136) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 23 1 22 Cross-currency forwards 1,490 74 18 56 Funds withheld embedded derivative (4) N/A 3,158 — 3,158 Total derivatives related to funds withheld under reinsurance treaties 1,648 3,255 19 3,236 Total $ 211,449 $ 4,428 $ 3,201 $ 1,227 (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Included within other contract holder funds on the Consolidated Balance Sheets. The non-performance risk adjustment is included in the balance above. (4) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. December 31, 2021 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset Freestanding derivatives Cross-currency swaps $ 1,767 $ 55 $ 35 $ 20 Equity index call options 21,000 606 — 606 Equity index futures (2) 18,258 — — — Equity index put options 27,500 150 — 150 Interest rate swaps 7,728 430 — 430 Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 19,000 133 — 133 Interest rate futures (2) 894 — — — Total freestanding derivatives 97,647 1,374 35 1,339 Embedded derivatives Fixed index annuity embedded derivatives (3) N/A — 1,439 (1,439) Registered index linked annuity embedded derivatives (3) N/A — 6 (6) Total embedded derivatives N/A — 1,445 (1,445) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 10 1 9 Cross-currency forwards 1,119 33 5 28 Funds withheld embedded derivative (4) N/A — 120 (120) Total derivatives related to funds withheld under reinsurance treaties 1,277 43 126 (83) Total $ 98,924 $ 1,417 $ 1,606 $ (189) (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Included within other contract holder funds on the Consolidated Balance Sheets. The non-performance risk adjustment is included in the balance above. (4) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. The following table reflects the results of the Company’s derivatives, including gains (losses) and change in fair value of freestanding derivative instruments and embedded derivatives (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Derivatives excluding funds withheld under reinsurance treaties Cross-currency swaps $ (67) $ (36) $ 74 Equity index call options (1,830) 1,479 1,468 Equity index futures 3,005 (4,663) (8,286) Equity index put options (244) (1,202) (218) Interest rate swaps (615) (179) 578 Interest rate swaps - cleared (201) (64) 1 Put-swaptions (1,832) 134 199 Interest rate futures (924) (990) 1,651 Total return swaps 5 — — Fixed index annuity embedded derivatives 3 (5) 30 Registered index linked annuity embedded derivatives 37 (1) — Variable annuity embedded derivatives — — (2,764) Total net gains (losses) on derivative instruments excluding derivative instruments related to funds withheld under reinsurance treaties (2,663) (5,527) (7,267) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 14 15 (5) Cross-currency forwards 79 42 (19) Treasury futures — — (204) Funds withheld embedded derivative 3,278 707 (827) Total net gains (losses) on derivative instruments related to funds withheld under reinsurance treaties 3,371 764 (1,055) Total net gains (losses) on derivative instruments including derivative instruments related to funds withheld under reinsurance treaties $ 708 $ (4,763) $ (8,322) All of the Company’s trade agreements for freestanding, over-the-counter derivatives, contain credit downgrade provisions that allow a party to assign or terminate derivative transactions if the counterparty’s credit rating declines below an established limit. At December 31, 2022 and 2021, the fair value of the Company’s net non-cleared, over-the-counter derivative assets by counterparty were $885 million and $1,376 million, respectively, and held collateral was $858 million and $1,576 million, respectively, related to these agreements. At December 31, 2022 and 2021, the fair value of the Company’s net non-cleared, over-the-counter derivative liabilities by counterparty were $1,680 million and nil, respectively, and provided collateral was $1,650 million and nil, respectively, related to these agreements. If all of the downgrade provisions had been triggered at December 31, 2022 and 2021, in aggregate, the Company would have had to disburse $30 million and $200 million, respectively, and would have been allowed to claim $27 million and nil, respectively. Offsetting Assets and Liabilities The Company’s derivative instruments, repurchase agreements and securities lending agreements are subject to master netting arrangements and collateral arrangements. A master netting arrangement with a counterparty creates a right of offset for amounts due to and due from that same counterparty that is enforceable in the event of a default or bankruptcy. The Company recognizes amounts subject to master netting arrangements on a gross basis within the Consolidated Balance Sheets. The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 33 — 33 — 33 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,110 $ — $ 3,110 $ 385 $ 33 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 14 — 14 — 14 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,627 $ — $ 1,627 $ 41 $ 14 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. All financial assets and liabilities measured at fair value are required to be classified into one of the following categories: Level 1 Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 1 securities include U.S. Treasury securities and exchange-traded equity securities and derivative instruments. Level 2 Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Most debt securities that are model priced using observable inputs are classified within Level 2. Also included are freestanding and embedded derivative instruments that are priced using models with observable market inputs. Level 3 Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Embedded derivatives that are valued using unobservable inputs are included in Level 3. Because Level 3 fair values, by their nature, contain unobservable market inputs, considerable judgment may be used to determine the Level 3 fair values. Level 3 fair values represent the Company’s best estimate of an amount that could be realized in a current market exchange absent actual market exchanges. In many situations, inputs used to measure the fair value of an asset or liability may fall into different levels of the fair value hierarchy. In these situations, the Company determines the level in which the fair value falls based upon the lowest level input that is significant to the determination of the fair value. As a result, both observable and unobservable inputs may be used in the determination of fair values that the Company has classified within Level 3. The Company determines the fair values of certain financial assets and liabilities based on quoted market prices, where available. The Company may also determine fair value based on estimated future cash flows discounted at the appropriate current market rate. When appropriate, fair values reflect adjustments for counterparty credit quality, the Company’s credit standing, liquidity and risk margins on unobservable inputs. Where quoted market prices are not available, fair value estimates are made at a point in time, based on relevant market data, as well as the best information about the individual financial instrument. At times, illiquid market conditions may result in inactive markets for certain of the Company’s financial instruments. In such instances, there may be no or limited observable market data for these assets and liabilities. Fair value estimates for financial instruments deemed to be in an illiquid market are based on judgments regarding current economic conditions, liquidity discounts, currency, credit and interest rate risks, loss experience and other factors. These fair values are estimates and involve considerable uncertainty and variability as a result of the inputs selected and may differ materially from the values that would have been used had an active market existed. As a result of market inactivity, such calculated fair value estimates may not be realizable in an immediate sale or settlement of the instrument. In addition, changes in the underlying assumptions used in the fair value measurement technique could significantly affect these fair value estimates. The following table summarizes the fair value and carrying value of the Company’s financial instruments (in millions, recast for the adoption of LDTI): December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets Debt securities (1) $ 42,072 $ 42,072 $ 51,453 $ 51,453 Equity securities 359 359 257 257 Mortgage loans 11,549 10,841 11,482 11,910 Limited partnerships 2,434 2,434 2,252 2,252 Policy loans (1) 4,376 4,376 4,474 4,474 Freestanding derivative instruments 1,270 1,270 1,417 1,417 Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock 146 146 125 125 Cash and cash equivalents 3,934 3,934 1,799 1,799 Reinsurance recoverable on market risk benefits 221 221 383 383 Market risk benefit assets 4,865 4,865 1,664 1,664 Receivables from affiliates 179 179 197 197 Separate account assets 195,906 195,906 248,949 248,949 Liabilities Annuity reserves (2) 37,143 32,212 — 37,529 45,836 Market risk benefit liabilities 5,662 5,662 — 8,033 8,033 Reserves for guaranteed investment contracts (3) 1,128 1,099 894 923 Trust instruments supported by funding agreements (3) 5,887 5,760 5,986 6,175 FHLB funding agreements (3) 2,004 2,104 1,950 1,938 Funds withheld payable under reinsurance treaties (1) 22,957 22,957 29,007 29,007 Long-term debt 470 492 494 563 Securities lending payable 33 33 14 14 Freestanding derivative instruments 2,065 2,065 41 41 Repurchase agreements 1,012 1,012 1,572 1,572 Separate account liabilities 195,906 195,906 248,949 248,949 (1) Includes items carried at fair value under the fair value option. (2) Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (3) Included as a component of other contract holder funds on the Consolidated Balance Sheets. The following is a discussion of the methodologies used to determine fair values of the financial instruments measured on a recurring basis reported in the following tables. Debt and Equity Securities The fair values for debt and equity securities are determined using information available from independent pricing services, broker-dealer quotes, or internally derived estimates. Priority is given to publicly available prices from independent sources, when available. Securities for which the independent pricing service does not provide a quotation are either submitted to independent broker-dealers for prices or priced internally. Typical inputs used by these three pricing methods include reported trades, benchmark yields, credit spreads, liquidity premiums and/or estimated cash flows based on default and prepayment assumptions. As a result of typical trading volumes and the lack of specific quoted market prices for most debt securities, independent pricing services will normally derive the security prices through recently reported trades for identical or similar securities, making adjustments through the reporting date based upon available market observable information as outlined above. If there are no recently reported trades, the independent pricing services and broker-dealers may use matrix or pricing model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and discounted at relevant market rates. Certain securities are priced using broker-dealer quotes, which may utilize proprietary inputs and models. Additionally, the majority of these quotes are non-binding. Included in the pricing of asset-backed securities are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived based on the characteristics of the underlying structure and prepayment assumptions believed to be relevant for the underlying collateral. Actual prepayment experience may vary from these estimates. Internally derived estimates may be used to develop a fair value for securities for which the Company is unable to obtain either a reliable price from an independent pricing service or a suitable broker-dealer quote. These fair value estimates may incorporate Level 2 and Level 3 inputs and are generally derived using expected future cash flows, discounted at market interest rates available from market sources based on the credit quality and duration of the instrument. For securities that may not be reliably priced using these internally developed pricing models, a fair value may be estimated using indicative market prices. These prices are indicative of an exit price, but the assumptions used to establish the fair value may not be observable or corroborated by market observable information and, therefore, represent Level 3 inputs. The Company performs an analysis on the prices and credit spreads received from third parties to ensure that the prices represent a reasonable estimate of the fair value. This process involves quantitative and qualitative analysis and is overseen by investment and accounting professionals. Examples of procedures performed include initial and ongoing review of third-party pricing service methodologies, review of pricing statistics and trends, back testing recent trades and monitoring of trading volumes. In addition, the Company considers whether prices received from independent broker-dealers represent a reasonable estimate of fair value using internal and external cash flow models, which are developed based on spreads and, when available, market indices. As a result of this analysis, if the Company determines there is a more appropriate fair value based upon the available market data, the price received from the third party may be adjusted accordingly. For those securities that were internally valued at December 31, 2022 and 2021, the pricing model used by the Company utilizes current spread levels of similarly rated securities to determine the market discount rate for the security. Furthermore, appropriate risk premiums for illiquidity and non-performance are incorporated in the discount rate. Cash flows, as estimated by the Company using issuer-specific default statistics and prepayment assumptions, are discounted to determine an estimated fair value. On an ongoing basis, the Company reviews the independent pricing services’ valuation methodologies and related inputs and evaluates the various types of securities in its investment portfolio to determine an appropriate fair value hierarchy distribution based upon trading activity and the observability of market inputs. Based on the results of this evaluation, each price is classified into Level 1, 2, or 3. Most prices provided by independent pricing services, including broker-dealer quotes, are classified into Level 2 due to their use of market observable inputs. Limited Partnerships Fair values for limited partnership interests, which are included in other invested assets, is generally determined using the proportion of the Company’s investment in the value of the net assets of each fund (“NAV equivalent”) as a practical expedient for fair value, and generally, are recorded on a three-month lag. No material adjustments were deemed necessary at December 31, 2022 and 2021. The Company’s limited partnership interests are not redeemable, and distributions received are generally the result of liquidation of the underlying assets of the partnerships. The Company generally has the ability under the partnership agreements to sell its interest to another limited partner with the prior written consent of the general partner. In cases when the Company expects to sell the limited partnership interest, the estimated sales price is used to determine the fair value rather than the practical expedient. These limited partnership interests are classified as Level 2 in the fair value hierarchy. In cases when a limited partnership's financial statements are unavailable and a NAV equivalent is not available or practical, the fair value may be based on an internally developed model or provided by the general partner as determined using private transactions, information obtained from the primary co-investor or underlying company, or financial metrics provided by the lead sponsor. These investments are classified as Level 3 in the fair value hierarchy. Policy Loans Policy loans are funds provided to policyholders in return for a claim on the policies values and function like demand deposits which are redeemable upon repayment, death or surrender, and there is only one market price at which the transaction could be settled – the then current carrying value. The funds provided are limited to the cash surrender value of the underlying policy. The nature of policy loans is to have a negligible default risk as the loans are fully collateralized by the value of the policy. Policy loans do not have a stated maturity and the balances and accrued interest are repaid either by the policyholder or with proceeds from the policy. Due to the collateralized nature of policy loans and unpredictable timing of payments, the Company believes the carrying value of policy loans approximates fair value. The reinsurance related component of policy loans at fair value under the fair value option have been classified as Level 3 within the fair value hierarchy. Freestanding Derivative Instruments Freestanding derivative instruments are reported at fair value, which reflects the estimated amounts, net of payment accruals, which the Company would receive or pay upon sale or termination of the contracts at the reporting date. Changes in fair value are included in net gains (losses) on derivatives and investments. Freestanding derivatives priced using third party pricing services incorporate inputs that are predominantly observable in the market. Inputs used to value derivatives include interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels. Freestanding derivative instruments classified as Level 1 include futures, which are traded on active exchanges. Freestanding derivative instruments classified as Level 2 include interest rate swaps, cross currency swaps, cross-currency forwards, credit default swaps, total return swaps, put-swaptions and certain equity index call and put options. These derivative valuations are determined by third-party pricing services using pricing models with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. Freestanding derivative instruments classified as Level 3 include interest rate contingent options that are valued by third-party pricing services utilizing significant unobservable inputs. Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase. Certain money market instruments are valued using unadjusted quoted prices in active markets and are classified as Level 1. Funds Withheld Payable Under Reinsurance Treaties The funds withheld payable under reinsurance treaties includes both the funds withheld payable which are held at fair value under the fair value option and the funds withheld embedded derivative liability. The fair value of the funds withheld payable which are held at fair value under the fair value option is equal to the fair value of the assets held as collateral, which primarily consists of policy loans using industry standard valuation techniques. The funds withheld embedded derivative liability is determined based upon a total return swap technique referencing the fair value of the investments held under the reinsurance contract and requires certain significant unobservable inputs. The funds withheld payable which are held at fair value under the fair value option and the funds withheld embedded derivative are considered Level 3 in the fair value hierarchy. Receivables from Affiliates The Company’s receivables from affiliates are set equal to the carrying value and are classified as Level 3. Separate Account Assets Separate account assets are comprised of investments in mutual funds that transact regularly, but do not trade in active markets as they are not publicly available, and, are categorized as Level 2 assets. Market Risk Benefits Variable annuity contracts issued by the Company may include various guaranteed minimum death, withdrawal, income and accumulation benefits, which are classified as MRBs and measured at fair value. The Company discontinued offering guaranteed minimum interest benefits (“GMIB”) in 2009 and guaranteed minimum accumulation benefits (“GMAB”) in 2011. Our MRB assets and MRB liabilities are reported separately on our Consolidated Balance Sheets. Increases to an asset or decreases to a liability are described as favorable changes to fair value. Changes in fair value are reported in Market risk benefits (gains) losses, net on the Consolidated Income Statements. However, the change in fair value related to our own non-performance risk is recognized as a component of other comprehensive income and is reported in Change in non-performance risk on market risk benefits, net of tax expense (benefit) on the Consolidated Statements of Comprehensive Income (Loss). Variable annuity guaranteed benefit features classified as MRBs, which have explicit fees, are measured using the attributed fee method. Under the attributed fee method, fair value is measured as the difference between the present value of projected future liabilities and the present value of projected attributed fees. At the inception of the contract, the Company attributes to the MRB a portion of total fees expected to be assessed against the contract holder's account value to offset the projected claims over the lifetime of the contract. The attributed fee is expressed as a percentage of total projected future fees at inception of the contract. This percentage of total projected fees is considered a fixed term of the MRB feature and is held static over the life of the contract. This percentage may not exceed 100% of the total projected contract fees as of contract inception. As the Company may issue contracts that have projected future liabilities greater than the projected future guaranteed benefit fees at issue, the Company may also attribute mortality and expense charges when performing this calculation. The percentage of guaranteed benefit fees and the percentage of mortality and expense charges may not exceed 100% of the total projected fees as of contract inception. In subsequent valuations, both the present value of future projected liabilities and the present value of projected attributed fees are remeasured based on current market conditions and policyholder behavior assumptions. The Company has ceded the guaranteed minimum income benefit (“GMIB”) features elected on certain annuity contracts to an unrelated party. The GMIBs ceded under this reinsurance treaty are classified as an MRB in their entirety. The reinsurance contract is measured at fair value and reported in Reinsurance recoverable on market risk benefits. Changes in fair value are recorded in market risk benefits (gains) losses, net. Due to the inability to economically reinsure or hedge new issues of the GMIB, the Company discontinued offering the benefit in 2009. Fair values for MRBs related to variable annuities, including the contract reinsuring GMIB features, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits. The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations concerning policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to fund returns, and discount rates, which includes an adjustment for non-performance risk. The more significant actuarial assumptions include benefit utilization by policyholders, lapse, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable. At each valuation date, the fair value calculation reflects expected returns based on constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on a weighting of available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Non-performance risk is incorporated into the calculation through the adjustment of the risk-free rate curve based on spreads indicated by a blend of yields on similarly-rated peer debt and yields on Jackson Financial debt (adjusted to operating company levels). Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience. As markets change, mature and evolve and actual policyholder behavior emerges, management continually evaluates the appropriateness of its assumptions for the fair value model. The use of the models and assumptions described above requires a significant amount of judgment. Management believes this results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could likely be significantly different than this fair value. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding MRBs. Fixed Index Annuities The longevity riders issued on fixed index annuities are classified as MRBs and measured at fair value. Similar to the variable annuity guaranteed benefit features, these contracts have explicit fees and are measured using the attributed fee method. The Company attributes a percentage of total projected future fees expected to be assessed against the policyholder to offset the projected future claims over the lifetime of the contract. If the fees attributed are insufficient to offset the claims at issue, the shortfall is borrowed from the host contract rather than recognizing a loss at inception. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding MRBs. The fair value of the index-linked crediting derivative feature embedded in fixed index annuities, included in Annuity Reserves in the above tables, is calculated using the closed form Black-Scholes Option Pricing model or Monte Carlo simulations, as appropriate for the type of option, incorporating such factors as the volatility of returns, the level of interest rates and the time remaining until the option expires. Additionally, assumed withdrawal rates are used to estimate the expected volume of embedded options that will be realized by policyholders. RILA RILA guaranteed benefit features are classified as MRBs and measured at fair value. Unlike variable or fixed index annuities, RILA products do not have explicit fees and are measured using an option-based method. The fair value measurement represents the present value of future claims payable by the MRB feature. At inception, the value of the MRB is deducted from the value of the contract resulting in no gain or loss. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding MRBs. The fair value of the index-linked crediting derivative feature embedded in RILAs, included in Annuity Reserves in the above table, is calculated using the closed form Black-Scholes Option Pricing model, incorporating such factors as the volatility of returns, the level of interest rates and the time remaining until the option expires. Additionally, assumed withdrawal rates are used to estimate the expected volume of embedded options that will be realized by policyholders. Fair Value Option The Company has elected the fair value option for certain funds withheld assets, which are held as collateral for reinsurance, totaling $4,160 million and $3,632 million at December 31, 2022 and 2021, respectively, as discussed above, and includes mortgage loans as discussed below. The Company elected the fair value option for certain mortgage loans held under the funds withheld reinsurance agreement with Athene. The fair value option was elected for these mortgage loans, purchased or funded after December 31, 2021, to mitigate inconsistency in earnings that would otherwise result between these mortgage loan assets and the funds withheld liability, including the associated embedded derivative, and are valued using third-party pricing services. Changes in fair value are reflected in net investment income on the Consolidated Income Statements. The fair value and aggregate contractual principal for mortgage loans where the fair value option was elected after December 31, 2021, were as follows (in millions): December 31, 2022 Fair value $ 582 Aggregate contractual principal 591 As of December 31, 2022, no loans for which the fair value option was elected were in non-accrual status, and no loans were more than 90 days past due and still accruing interest. Income and changes in unrealized gains and losses on other assets for which the Company has elected the fair value option are immaterial to the Company’s Consolidated Financial Statements. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following tables summarize the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in millions, recast for the adoption of LDTI): December 31, 2022 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,724 $ 4,724 $ — $ — Other government securities 1,468 — 1,468 — Public utilities 5,167 — 5,167 — Corporate securities 22,905 — 22,905 — Residential mortgage-backed 452 — 452 — Commercial mortgage-backed 1,631 — 1,631 — Other asset-backed securities 5,725 — 5,725 — Equity securities 359 163 195 1 Mortgage loans 582 — — 582 Limited partnerships (1) 14 — — 14 Policy loans 3,419 — — 3,419 Freestanding derivative instruments 1,270 — 1,270 — Cash and cash equivalents 3,934 3,934 — — Reinsurance recoverable on market risk benefits 221 — — 221 Market risk benefit assets 4,865 — — 4,865 Separate account assets 195,906 — 195,906 — Total $ 252,642 $ 8,821 $ 234,719 $ 9,102 Liabilities Embedded derivative liabilities (2) $ 1,135 $ — $ 1,135 $ — Funds withheld payable under reinsurance treaties (3) 424 — — 424 Freestanding derivative instruments 2,065 — 2,065 — Market risk benefit liabilities 5,662 — — 5,662 Total $ 9,286 $ — $ 3,200 $ 6,086 (1) Excludes $2,420 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative liabilities of $205 million related to RILA and $931 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,311 $ 4,311 $ — $ — Other government securities 1,619 — 1,619 — Public utilities 6,660 — 6,660 — Corporate securities 29,254 — 29,254 — Residential mortgage-backed 554 — 554 — Commercial mortgage-backed 2,029 — 2,029 — Other asset-backed securities 7,026 — 7,026 — Equity securities 257 212 43 2 Limited partnerships (1) 18 — 17 1 Policy loans 3,467 — — 3,467 Freestanding derivative instruments 1,417 — 1,417 — Cash and cash equivalents 1,799 1,799 — — Reinsurance recoverable on market risk benefits 383 — — 383 Market risk benefit assets 1,664 — — 1,664 Separate account assets 248,949 — 248,949 — Total $ 309,407 $ 6,322 $ 297,568 $ 5,517 Liabilities Embedded derivative (assets) liabilities (2) $ 1,445 $ — $ 1,445 $ — Funds withheld payable under reinsurance treaties (3) 3,759 — — 3,759 Freestanding derivative instruments 41 — 41 — Market risk benefit liabilities 8,033 — — 8,033 Total $ 13,278 $ — $ 1,486 $ 11,792 (1) Excludes $2,234 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative liabilities of $6 million related to RILA and $1,439 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) Level 3 Assets and Liabilities by Price Source The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in millions, recast for the adoption of LDTI): December 31, 2022 Assets Total Internal External Equity securities $ 1 $ 1 $ — Mortgage loans 582 — 582 Limited partnerships 14 8 6 Policy loans 3,419 3,419 — Reinsurance recoverable on market risk benefits 221 221 — Market risk benefit assets 4,865 4,865 — Total $ 9,102 $ 8,514 $ 588 Liabilities Funds withheld payable under reinsurance treaties (1) $ 424 $ 424 $ — Market risk benefit liabilities 5,662 5,662 — Total $ 6,086 $ 6,086 $ — (1) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Assets Total Internal External Equity securities $ 2 $ 1 $ 1 Limited partnerships 1 1 — Policy loans 3,467 3,467 — Reinsurance recoverable on market risk benefits 383 383 — Market risk benefit assets 1,664 1,664 — Total $ 5,517 $ 5,516 $ 1 Liabilities Funds withheld payable under reinsurance treaties (1) 3,759 3,759 — Market risk benefit liabilities 8,033 8,033 — Total $ 11,792 $ 11,792 $ — (1) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. External pricing sources for securities represent unadjusted prices from independent pricing services and independent indicative broker quotes where pricing inputs are not readily available. Quantitative Information Regarding Internally-Priced Level 3 Assets and Liabilities The table below presents quantitative information on internally priced Level 3 assets and liabilities that use significant unobservable inputs (in millions, recast for the adoption of LDTI): As of December 31, 2022 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets Reinsurance recoverable on market risk benefits $ 221 Discounted cash flow Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 2.97% - 8.10% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 47.50% - 52.50% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Market risk benefit assets $ 4,865 Discounted cash Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 0.05% - 41.28% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Liabilities Market risk benefit liabilities $ 5,662 Discounted cash flow Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 0.05% - 41.28% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase (1) Mortality rates vary by attained age, tax qualification status, guaranteed benefit election, and duration. The range displayed reflects ages from the minimum is

Deferred Acquisition Costs and

Deferred Acquisition Costs and Deferred Sales Inducements	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Deferred Acquisition Costs and Deferred Sales Inducements	Deferred Acquisition Costs and Deferred Sales Inducements Deferred Acquisition Costs - Post the Adoption of LDTI Certain costs that are directly related to the successful acquisition of new or renewal insurance business are capitalized as deferred acquisition costs in the period they are incurred. These costs primarily pertain to commissions and certain costs associated with policy issuance and underwriting. All other acquisition costs are expensed as incurred. Contracts are grouped into cohorts by contract type and issue year. For traditional and limited-payment insurance contracts, contracts are grouped consistent with the groupings used in estimating the associated liability. Deferred acquisition costs are amortized into expense on a constant level basis over the expected term of the grouped contracts. For traditional and limited-payment insurance contracts, amortization is determined based on projected in force amounts. For non-traditional contracts, amortization is determined based on projected policy counts . The expected term used to amortize deferred acquisition costs is determined using best estimate assumptions, including mortality and persistency, consistent with the best estimate assumptions used to determine the reserve for future policy benefits, market risk benefits, and additional liabilities for applicable contracts. For amortization of deferred acquisition costs related to contracts without these balances, assumptions used to determine expected term are developed in a similar manner. The amortization rate is determined using all information available as of the end of the reporting period, including actual experience and any assumption updates. Annually, or as circumstances warrant, a comprehensive review of assumptions is conducted, and assumptions are revised as appropriate. If assumptions are revised, the amortization rate is calculated using revised assumptions such that the effect of revised assumptions is recognized prospectively as of the beginning of that reporting period. Unamortized deferred acquisition costs are written off when a contract is internally replaced and substantially changed. Substantially unchanged contracts are treated as a continuation of the replaced contract, with no change to the unamortized deferred acquisition costs at the time of the replacement. The following table presents the roll-forward of the deferred acquisition costs (in millions). The current period amortization is based on the end of the period estimates of mortality and persistency. The amortization pattern is revised on a prospective basis at the beginning of the period based on the period’s actual experience. Years Ended December 31, 2022 2021 (1) Variable Annuities Balance, beginning of period $ 13,364 $ 13,725 Change in accounting principle — 151 Deferrals of acquisition costs 544 779 Amortization (1,209) (1,291) Variable Annuities balance, end of period $ 12,699 $ 13,364 Reconciliation of total deferred acquisition costs Variable Annuities balance, end of period $ 12,699 $ 13,364 Other product lines, end of period 219 155 Total balance, end of period $ 12,918 $ 13,519 (1) See Note 2 of the Notes to Consolidated Financial Statements for the transition to LDTI impact to the 2021 beginning of period balance for DAC . The assumptions used in the amortization of deferred acquisition costs consists of mortality and persistency. We have undertaken a comprehensive review of the assumptions used in the amortization of deferred acquisition costs, and we did not make any changes to the mortality or persistency as our current assumptions were materially consistent with our actual experience. Deferred Acquisition Costs - Prior to the Adoption of LDTI Under prior accounting guidance, certain costs that were directly related to the successful acquisition of new or renewal insurance business were capitalized as DAC. These costs primarily pertained to commissions and certain costs associated with policy issuance and underwriting. All other acquisition costs were expensed as incurred. DAC are increased by interest thereon and amortized into income in proportion to anticipated premium revenues for traditional life policies and in proportion to estimated gross profits, including net gains (losses) on derivatives and investments, for annuities and interest-sensitive life products. Due to volatility of certain factors that affect gross profits, including net gains (losses) on derivatives and investments, amortization may be a benefit or a charge in any given period. In the event of negative amortization, the related DAC balance is capped at the initial amount capitalized, plus interest. Unamortized DAC are written off when a contract is internally replaced and substantially changed. DAC is reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. The Company’s accounting policy includes reinsurance balances when evaluating recoverability of DAC. Any amount deemed unrecoverable is written off with a charge through DAC amortization. See below for discussion related to the Athene Reinsurance Transaction write-off in 2020. As available-for-sale debt securities are carried at fair value, an adjustment was made to DAC equal to the change in amortization that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on available-for-sale debt securities, net of applicable tax, was credited or charged directly to equity as a component of other comprehensive income. For variable annuity business, the Company employed a mean reversion methodology that was applied with the objective of adjusting the amortization of DAC that would otherwise have been highly volatile due to fluctuations in the level of future gross profits arising from changes in equity market levels. The mean reversion methodology achieved this objective by applying a dynamic adjustment to the assumption for short-term future investment returns. The Company evaluated the recoverability of previously established DAC assets in accordance with ASC 944-30-35-22. The Company determined it was appropriate to immediately write-off the remaining DAC on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. Accordingly, amortization of DAC for the year ended December 31, 2020 included a write-off of $626 million, related to the blocks of fixed and fixed-index annuity business, as a result of the Athene Reinsurance Transaction. See Note 8 of the Notes to Consolidated Financial Statements for a description of the Athene Reinsurance Transaction. The following table presents the roll-forward of deferred acquisition costs (in millions) prior to the adoption of LDTI: Year Ended December 31, 2020 Balance, beginning of period $ 12,334 Deferrals of acquisition costs 739 Amortization 534 Unrealized investment (gains) losses 290 Balance, end of period 13,897 Deferred Sales Inducements - Post the Adoption of LDTI Certain sales inducement costs that are directly related to the successful acquisition of new or renewal insurance business are capitalized as DSI. Bonus interest on deferred fixed annuities and contract enhancements on fixed index annuities and variable annuities are capitalized as DSI and included in other assets. Contracts are grouped into cohorts by contract type and issue year consistent with the groupings used in estimating the associated liability. DSI are amortized into expense on a constant level basis over the expected term of the grouped contracts. For traditional and limited-payment insurance contracts, amortization is determined based on projected in force amounts. For non-traditional contracts, amortization is determined based on projected policy counts . The expected term used to amortize DSI is determined using best estimate assumptions, including mortality and persistency, consistent with the best estimate assumptions used to determine the reserve for future policy benefits, market risk benefits, and additional liabilities for applicable contracts. For amortization of DSI related to contracts without these balances, assumptions used to determine expected term are developed in a similar manner. The amortization rate is determined using all information available as of the end of the reporting period, including actual experience and any assumption updates. Annually, or as circumstances warrant, a comprehensive review of assumptions is conducted, and assumptions are revised as appropriate. If assumptions are revised, the amortization rate is calculated using revised assumptions such that the effect of revised assumptions is recognized prospectively as of the beginning of that reporting period. Unamortized DSI are written off when a contract is internally replaced and substantially changed. Substantially unchanged contracts are treated as a continuation of the replaced contract, with no change to the unamortized DSI at the time of the replacement. The balances of and changes in deferred sales inducements, which are reported in other assets, were as follows (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 80 $ 77 Change in accounting principle — 3 Deferrals of sales inducements 4 8 Amortization (8) (8) Balance, end of year 76 80 Deferred Sales Inducements - Prior to the Adoption of LDTI Certain sales inducement costs that were directly related to the successful acquisition of new or renewal insurance business were capitalized as DSI. Bonus interest on deferred fixed annuities and contract enhancements on fixed index annuities and variable annuities were capitalized as DSI and included in other assets. DSI were increased by interest thereon and amortized into income in proportion to estimated gross profits, including net gains (losses) on derivatives and investments. DSI were reviewed periodically to ensure that the unamortized portion does not exceed the expected recoverable amounts. Any amount deemed unrecoverable was written off with a charge through DSI amortization. The Company evaluated the recoverability of previously established DSI assets in accordance with ASC 944-30-35-22. The Company determined it was appropriate to immediately write-off the remaining DSI costs on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. Accordingly, amortization of DSI costs for the year ended December 31, 2020, included a write-off of $138 million, related to the blocks of fixed and fixed-index annuity business, as a result of the Athene Reinsurance Transaction. The balances of and changes in deferred sales inducements, which are reported in other assets, prior to the adoption of LDTI were as follows (in millions): Year Ended December 31, 2020 Balance, beginning of year $ 130 Deferrals of sales inducements 3 Amortization (144) Unrealized investment losses (gains) 88 Balance, end of year 77

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Reinsurance	Reinsurance The Company assumes and cedes reinsurance from and to other insurance companies to limit losses from large exposures. However, if the reinsurer is unable to meet its obligations, the originating issuer of the coverage retains the liability. The Company reinsures certain of its risks to other reinsurers under a coinsurance, coinsurance with funds withheld, modified coinsurance, or yearly renewable term basis. The Company regularly monitors the financial strength ratings of its reinsurers. Athene Reinsurance Jackson has ceded a block of fixed and fixed index annuity contracts on a 100% coinsurance with funds withheld agreement with Athene. The funds withheld investments, which primarily consist of bonds, mortgage loans, limited partnerships, and cash and cash equivalents, are maintained in a segregated account and are subject to an investment management agreement between Jackson and Apollo Insurance Solutions Group LP (“Apollo”), which merged with Athene in 2022. To further support its obligations under the Coinsurance Agreement, Athene procured $1.2 billion in letters of credit for Jackson’s benefit and established a trust account for Jackson’s benefit, which had a book value of approximately $212 million at December 31, 2022. The Athene Reinsurance Agreement required Jackson to establish a segregated account in which the investments supporting the ceded obligations are maintained. While the economic benefits of the investments flow to Athene, Jackson retains physical possession and legal ownership of the investments supporting the reserve. Upon closing of the transaction, Jackson placed investments into the segregated account with a statutory book value of $25.6 billion. The investments maintained in the segregated account are valued at statutory carrying value for purposes of determining periodic settlement amounts under the Athene Reinsurance Agreement. Further, the investments in the segregated account are not available to settle any policyholder obligations other than those specifically covered by the Athene Reinsurance Agreement and are not available to settle obligations to general creditors of Jackson. The profit and loss with respect to obligations ceded to Athene are included in periodic net settlements pursuant to the Athene Reinsurance Agreement. As a result of this transaction, which occurred in 2020, prior to the adoption of LDTI, the Company evaluated the recoverability of previously established deferred acquisition costs, deferred sales inducement assets, and of cost of reinsurance assets in accordance with ASC 944-30-35-22. The Company’s accounting policy includes reinsurance balances when evaluating recoverability of DAC and DSI. Accordingly, the Company determined it was appropriate to immediately write-off the remaining DAC, DSI and the cost of reinsurance on the business reinsured to Athene as no future profits will be recognized on this business at this aggregated level of recoverability testing. The following table summarizes the impact of the Athene Reinsurance Transaction on the Consolidated Income Statements (in millions): December 31, 2020 Contractual ceding commission $ 1,202 Cost of reinsurance write-off (1) (2,520) DAC and DSI write-off (764) Total pretax loss on Athene Reinsurance Transaction $ (2,082) (1) Cost of reinsurance reflects the net impact of the fair value of assets of $30.1 billion and ceded reserves of $27.6 billion. Pursuant to the Athene Reinsurance Agreement, the Company holds certain assets as collateral. At December 31, 2022 and 2021, assets held as collateral in the segregated custody account were $19.4 billion and $25.4 billion, respectively. Swiss Re Reinsurance Jackson has three retrocession reinsurance agreements (“retro treaties”) with Swiss Reinsurance Company Ltd. (“SRZ”). Pursuant to these retro treaties, Jackson ceded to SRZ on a 100% coinsurance with funds withheld basis, subject to pre-existing reinsurance with other parties, certain blocks of business. As a result of the reinsurance agreements with SRZ, Jackson withholds certain assets, primarily in the form of policy loans and debt securities, as collateral for the reinsurance recoverable. The Company has also acquired certain blocks of business that are closed to new business and wholly ceded to non-affiliates. These include both direct and assumed accident and health business, direct and assumed life insurance business, and certain institutional annuities. GMIB Reinsurance The Company’s guaranteed minimum income benefits (GMIBs) are reinsured with an unrelated party. GMIB reinsured benefits are subject to aggregate annual claim limits. Deductibles also apply on reinsurance of GMIB business issued since March 1, 2005. The Company discontinued offering the GMIB in 2009. Assumed and Ceded Premiums and Benefit Paid or Provided Assumed and ceded premiums and benefits paid or provided are accounted for on bases consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Premium income and benefit expenses are reported net of reinsurance assumed and ceded. The effect of reinsurance on premiums and benefits was as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): For the Years Ended December 31, 2022 2021 2020 Premiums Direct $ 360 $ 407 $ 336 Assumed 40 42 47 Ceded (291) (327) (226) Total premium $ 109 $ 122 $ 157 Benefits Direct $ 1,687 $ 1,466 $ 1,568 Assumed 868 879 749 Ceded (920) (827) (663) Change in reserves, net of reinsurance (600) (614) (341) Total benefits $ 1,035 $ 949 $ 1,313 Reinsurance Recoverables and Reinsured Market Risk Benefits Ceded reinsurance agreements are reported on a gross basis on the Company’s Consolidated Balance Sheets as an asset for amounts recoverable from reinsurers or as a component of other assets or liabilities for amounts, such as premiums, owed to or due from reinsurers. Reinsurance recoverables relating to reinsurance of traditional and limited-payment contracts are required to be recognized and measured in a manner consistent with the liabilities relating to the underlying reinsured contracts, including using consistent assumptions. Reinsurance contracts may be executed subsequent to the direct contract issue dates, and market interest rates may have changed between the date that the underlying insurance contracts were issued and the date the reinsurance contract is recognized in the financial statements, resulting in the underlying discount rate differing between the direct and reinsured business. The Company regularly monitors the financial strength ratings of its reinsurers. At December 31, 2022 and 2021, the Company had ACL of $15 million and $12 million, respectively, on its reinsurance recoverables, which are reported net of ACL on the Consolidated Balance Sheets. The ACL considers the credit quality of the reinsurer and is generally determined based on probability of default and loss given default assumptions, after considering any applicable collateral arrangements. For reinsurance recoverables that are collateralized, and the amount of collateral is expected to be adjusted as necessary as a result of fair value changes in the collateral, the Company determines that the expectation of nonpayment of the carrying value of the reinsurance recoverable is zero. If the fair value of the collateral at the reporting date is less than the carrying value of the reinsurance recoverable, the Company recognizes an ACL on the difference between the fair value of the collateral at the reporting date and the carrying value of the reinsurance recoverable. Additions to or releases of the ACL are reported in death, other policyholder benefits, and changes in reserves, net of deferrals in the Consolidated Income Statements. Reinsurance recoverable on market risk benefits are recognized at fair value. The change in the fair value of reinsurance recoverable on market risk benefits, including the change in fair value due to the change in third-party credit risk (i.e., credit risk of the reinsurer), is recognized in current period earnings within market risk benefit (gains) losses, net. The Company’s reinsurance contract that cedes only the GMIB elected on certain variable annuity products is classified as a reinsurance recoverable on market risk benefits. These reinsured MRBs may have direct MRB balances recorded as either assets or liabilities; however, because of the unit of account for the reinsured MRB is the reinsurance contract, the ceded MRB is presented in total within reinsurance recoverable on market risk benefits. The fees used to determine the fair value of the reinsurance recoverable on market risk benefits are those defined in the reinsurance contract. Guaranteed benefits related to the optional lifetime income rider offered on certain fixed index annuities are market risk benefits that are reinsured with Athene. The reinsured market risk benefit is measured using a non-option valuation approach which uses cash flow assumptions and an attributed fee ratio consistent with those used to measure the market risk benefit on the direct contract and a discount rate that considered the reinsurer’s credit risk. The attributed fee is locked-in at inception of the contract. Components of the Company’s reinsurance recoverable excluding market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Reserves: Life $ 5,321 $ 5,741 Accident and health 482 712 Other annuity benefits (1) 22,478 25,580 Claims liability and other 795 844 Total $ 29,076 $ 32,877 (1) Other annuity benefits primarily attributable to fixed and fixed index annuities reinsured with Athene. Components of the Company’s reinsurance recoverable on market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Variable annuity $ 183 $ 284 Other product lines 38 99 Total $ 221 $ 383 Reinsurance and Funds Withheld Payable Under Reinsurance Treaties Under the reinsurance agreement with Athene and the retro treaties with SRZ, the Company maintains ownership of the underlying investments instead of transferring them to the reinsurer and, as a result, records a funds withheld liability payable to the reinsurer. Investment returns earned on withheld assets are paid by the Company to the reinsurer, pursuant to the terms of the agreements. Investment income and net gains (losses) on derivatives and investments are reported net of gains or losses on the funds withheld payable under reinsurance treaties. The amounts credited to reinsurers on the funds withheld payable is based on the return earned on those assets which is subject to the credit risk of the original issuer of the instrument rather than Jackson’s own creditworthiness, which results in an embedded derivative (total return swap). Funds withheld under reinsurance agreement with Athene The Company recognizes a liability for the embedded derivative related to the funds withheld under the reinsurance agreement with Athene within funds withheld payable under reinsurance treaties in the Consolidated Balance Sheets. The embedded derivative is measured at fair value with changes in fair value reported in net gains (losses) on derivatives and investments in the Consolidated Income Statements. At inception of the reinsurance agreement with Athene, the fair value of the withheld investments differed from their book value and, accordingly, while the investments are held, the amortization of this difference is reported in net gains (losses) on derivatives and investments in the Consolidated income Statements. Funds withheld under reinsurance agreements with SRZ At execution of the retro treaties with SRZ, the Company elected the fair value option for the withheld assets, as well as the related funds withheld payable. Accordingly, the embedded derivative is not bifurcated or separately measured. The funds withheld payable is measured at fair value with changes in fair value reported in net gains (losses) on derivatives and investments. The fair value of the funds withheld payable is equal to the fair value of the assets held as collateral. The following assets and liabilities were held in support of reserves associated with the Company’s funds withheld reinsurance agreements and were reported in the respective financial statement line items in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Assets Debt securities, available-for-sale $ 13,622 $ 19,094 Debt securities, at fair value under the fair value option 159 164 Equity securities 77 116 Mortgage loans 4,127 4,739 Mortgage loans, at fair value under the fair value option 582 — Policy loans 3,435 3,483 Freestanding derivative instruments, net 78 37 Other invested assets 793 715 Cash and cash equivalents 260 438 Accrued investment income 166 162 Other assets and liabilities, net (73) (56) Total assets (1) $ 23,226 $ 28,892 Liabilities Funds held under reinsurance treaties (2) $ 22,957 $ 29,007 Total liabilities $ 22,957 $ 29,007 (1) Certain assets are reported at amortized cost while the fair value of those assets is reported in the embedded derivative in the funds withheld liability. (2) Includes funds withheld embedded derivative asset (liability) of $3,158 million and $(120) million at December 31, 2022 and 2021, respectively. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees. The gains and losses on funds withheld reinsurance treaties as a component of net gains (losses) on derivatives and investments in the Consolidated Income Statements were as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 43 $ 536 $ 2,074 Realized losses on sale (54) (52) (12) Credit loss expense (26) (1) — Gross impairments — — (2) Credit loss expense on mortgage loans 15 23 (47) Other (62) (29) 4 Net gains (losses) on non-derivative investments (84) 477 2,017 Net gains (losses) on derivative instruments 93 58 (228) Net gains (losses) on funds withheld payable under reinsurance treaties (1) 2,177 (556) (1,349) Total net gains (losses) on derivatives and investments $ 2,186 $ (21) $ 440 (1) Includes the Athene Embedded Derivative gain (loss) of $3,278 million, $707 million and $(827) million for the years ended December 31, 2022, 2021 and 2020, respectively.

Reserves for Future Policy Bene

Reserves for Future Policy Benefits and Claims Payable	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Reserves for Future Policy Benefits and Claims Payable	Reserves for Future Policy Benefits and Claims Payable This note is recast for the adoption of LDTI for 2022 and 2021. Reserves for Future Policy Benefits For non-participating traditional and limited-payment insurance contracts, the reserve for future policy benefits represents the present value of estimated future policy benefits to be paid to or on behalf of policyholders in future periods and certain related expenses less the present value of estimated future net premiums. Reserves for future policy benefits for non-participating traditional and limited-payment insurance contracts are measured using the net premium ratio (NPR) measurement model. The NPR measurement model accrues for future policy benefits in proportion to the premium revenue recognized. The reserve for future policy benefits is derived from the Company's best estimate of future net premium and future benefits and expenses, which is based on best estimate assumptions including mortality, persistency, claims expense, and discount rate. On an annual basis, or as circumstances warrant, we conduct a comprehensive review of our current best estimate assumptions based on our experience, industry benchmarking, and other factors, as applicable. Expense assumptions are updated based on estimates of expected non-level costs, such as termination or settlement costs, and costs after the premium-paying period and exclude acquisition costs or any costs that are required to be charged to expenses as incurred. Updates to assumptions are applied on a retrospective basis, and the change in the reserve for future policy benefits resulting from updates to assumptions is reported separately on the Consolidated Income Statements within the (Gain) loss from updating future policy benefits cash flow assumptions, net. Each reporting period the reserve for future policy benefits is updated to reflect actual experience to date. The Company establishes cohorts, which are product groupings used to measure reserves for future policy benefits. In determining cohorts, the Company considered both qualitative and quantitative factors, including the issue year, type of product, product features, and legal entity. The discount rate used to estimate reserves for future policy benefits is consistent with an upper-medium grade (low-credit risk) fixed-income corporate instrument yield, which has been interpreted to represent a single-A corporate instrument yield. This discount rate curve is determined by fitting a parametric function to yields to maturity and related times to maturity of market observable single-A rated corporate instruments. The discount rate used to recognize interest accretion on the reserves for future policy benefits is locked at the initial measurement of the cohort. Each reporting period, the reserve for future policy benefits is remeasured using the current discount rate. The difference between the reserve calculated using the current discount rate and the reserve calculated using the locked-in discount rate is recorded in other comprehensive income. For limited-payment insurance contracts, premiums are paid over a period shorter than the period over which benefits are provided. Gross premiums received in excess of the net premium are deferred and recognized as a deferred profit liability ("DPL"). The DPL is included within the reserve for future policy benefits and profits are recognized in income as a component of benefit expenses on a constant relationship with the amount of expected future benefit payments. Interest is accreted on the balance of the DPL using the discount rate locked in at the initial measurement of the cohort. Measurement of the DPL uses best estimate assumptions for mortality. These assumptions are similarly subject to the annual review process discussed above. Additional Liabilities - Universal Life-type For universal life-type insurance contracts, a liability is recognized for the policyholder’s account value as discussed further in Note 10 of the Notes to Consolidated Financial Statements. Where these contracts provide additional benefits beyond the account balance or base insurance coverage that are not market risk benefits or embedded derivatives, liabilities in addition to the policyholder’s account value are recognized. These additional liabilities for annuitization, death and other insurance benefits are reported within reserves for future policy benefits and claims payable. The methodology uses a benefit ratio defined as a constant percentage of the assessment base. This ratio is multiplied by current period assessments to determine the reserve accrual for the period. The assumptions used in the measurement of the additional liabilities for annuitization, death and other insurance benefits are based on best estimate assumptions including mortality, persistency, investment returns, and discount rates. These assumptions are similarly subject to the annual review process discussed above. As available-for-sale debt securities are carried at fair value, an adjustment is made to these additional liabilities equal to the change in liability that would have occurred if such securities had been sold at their stated fair value and the proceeds reinvested at current yields. This adjustment, along with the change in net unrealized gains (losses) on available-for-sale debt securities, net of applicable tax, is credited or charged directly to equity as a component of other comprehensive income. See Note 10 of the Notes to Consolidated Financial Statements for more information regarding other contract holder funds. Other Future Policy Benefits and Claims Payable In conjunction with a prior acquisition, the Company recorded a fair value adjustment at acquisition related to certain annuity and interest-sensitive liability blocks of business to reflect the cost of the interest guarantees within the in-force liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate at acquisition. This adjustment is included in other future policy benefits and claims payable as disclosed in the table below. This liability is remeasured at the end of each period, taking into account changes in the in-force block. Any resulting change in the liability is recorded as a Gain (loss) from updating future policy benefits cash flow assumptions, net through the Consolidated Income Statements. In addition, annuity and life claims liabilities in course of settlement are included in other future policy benefits and claims payable as disclosed in the table below. The following table summarizes the Company’s reserves for future policy benefits and claims payable balances (in millions): December 31, 2022 2021 Reserves for future policy benefits Payout Annuities $ 1,037 $ 1,246 Closed Block Life 4,161 5,449 Closed Block Annuity 4,434 5,739 Reserves for future policy benefits 9,632 12,434 Additional liabilities Closed Block Life 1,131 1,173 Other future policy benefits and claims payable 1,537 1,570 Reserves for future policy benefits and claims payable $ 12,300 $ 15,177 The following tables present the roll-forward of components of reserves for future policy benefits (in millions): Present Value of Expected Net Premiums Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ — $ 1,464 $ — $ — $ 1,440 $ — Beginning of period cumulative effect of changes in discount rate assumptions — (157) — — (191) — Beginning balance at original discount rate — 1,307 — — 1,249 — Effect of changes in cash flow assumptions — 242 — — — — Effect of actual variances from expected experience — 1 — — 146 — Balance adjusted for variances from expectation — 1,550 — — 1,395 — Issuances — 6 — — 4 — Interest accrual — 39 — — 48 — Net premiums collected — (147) — — (140) — Ending balance at original discount rate — 1,448 — — 1,307 — End of period cumulative effect of changes in discount rate assumptions — (161) — — 157 — Balance, end of year $ — $ 1,287 $ — $ — $ 1,464 $ — Present Value of Expected Future Policy Benefits Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ 1,246 $ 6,913 $ 5,739 $ 1,293 $ 7,647 $ 6,343 Beginning of period cumulative effect of changes in discount rate assumptions (84) (349) (689) (144) (660) (997) Beginning balance at original discount rate (including DPL of $38, $0 and $459 in 2022, and, $46, $0 and $452 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,162 6,564 5,050 1,149 6,987 5,346 Effect of changes in cash flow assumptions 4 331 (15) — — — Effect of actual variances from expected experience (38) 38 (34) (53) 193 (3) Balance adjusted for variances from expectation 1,128 6,933 5,001 1,096 7,180 5,343 Issuances 126 14 4 146 12 6 Interest accrual 40 209 210 42 220 222 Benefits payments (126) (750) (506) (122) (848) (521) Ending balance of original discount rate (including DPL of $40, $0 and $671 in 2022, and, $38, $0 and $459 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,168 6,406 4,709 1,162 6,564 5,050 End of period cumulative effect of changes in discount rate assumptions (131) (958) (275) 84 349 689 Balance, end of year $ 1,037 $ 5,448 $ 4,434 $ 1,246 $ 6,913 $ 5,739 Reserves for future policy benefits 1,037 4,161 4,434 1,246 5,449 5,739 Less: Reinsurance recoverable 71 2,263 2 51 2,855 2 Reserves for future policy benefits, after reinsurance recoverable $ 966 $ 1,898 $ 4,432 $ 1,195 $ 2,594 $ 5,737 The following table presents the weighted average duration of the reserves for future policy benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: Payout Closed Block Closed Block Annuities Life Annuity December 31, 2022 Weighted average duration (years) 6.9 7.8 7.0 December 31, 2021 Weighted average duration (years) 7.8 9.5 8.5 The significant assumptions used in the future policy benefits calculation consist of mortality, persistency, and discount rate. We have undertaken a comprehensive review of the significant assumptions used in the future policy benefits calculation. No significant changes were made to the mortality or persistency assumptions during 2021. During 2022, increase in benefits from active life reserves for certain Closed Block Life policies resulted in an increase in the liability for future policy benefits. However, this business is fully reinsured, resulting in no impact to the Company. No other significant changes were made during 2022. The discount rate assumption was updated based on current market data. Discount rates increased in the first quarter of 2021 primarily due to the increase in risk-free rates, but then remained stable through the remainder of 2021. Discount rates increased substantially throughout 2022 primarily due to increases in risk-free rates which resulted in a decrease in the liability for future policy benefits. Refer to the roll-forward above for further details. The following table presents the amount of undiscounted and discounted expected future gross premiums and expected future benefit payments for future policy benefits for non-participating traditional and limited-payment insurance contracts (in millions). The discounted premiums are calculated using the current discount rate, while the undiscounted cash flows represent the gross cash flows before any discounting is applied: December 31, 2022 2021 Undiscounted Discounted Undiscounted Discounted Payout Annuities Expected future benefit payments $ 1,541 $ 999 $ 1,525 $ 1,209 Expected future gross premiums — — — — Closed Block Life Expected future benefit payments 8,751 5,578 8,853 7,050 Expected future gross premiums 5,976 3,489 6,174 4,611 Closed Block Annuity Expected future benefit payments 5,834 3,729 6,799 5,256 Expected future gross premiums $ — $ — $ — $ — The following table presents the amount of revenue and interest related to non-participating traditional and limited-pay insurance contracts recognized in the Consolidated Income Statements (in millions): Gross Premiums Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Payout Annuities $ 10 $ 16 $ 40 $ 42 Closed Block Life 390 433 170 172 Closed Block Annuity — — 210 222 Total $ 400 $ 449 $ 420 $ 436 The following table presents the weighted average interest rate for the reserves for future policy benefits at the cohort's level for the locked-in discount rate (interest accretion rate), and current discount rate, weighted by the cohort's benefit reserve amount: December 31, 2022 2021 Payout Annuities Interest accretion rate 3.71 % 3.63 % Current discount rate 5.40 % 2.58 % Closed Block Life Interest accretion rate 3.01 % 3.10 % Current discount rate 5.34 % 2.63 % Closed Block Annuity Interest accretion rate 4.40 % 4.40 % Current discount rate 5.41 % 2.65 % The following table presents a roll-forward of Closed Block Life additional liabilities for annuitization, death and other insurance benefits (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 1,173 $ 1,185 Beginning of period cumulative effect of changes in shadow adjustments (14) (37) Beginning balance excluding shadow 1,159 1,148 Effect of changes in cash flow assumptions 6 — Effect of actual variances from expected experience 58 57 Issuances — — Interest accrual 56 56 Net assessments collected (107) (102) Effect of changes in discount rate assumptions — — Ending balance excluding shadow 1,172 1,159 End of period cumulative effect of changes in shadow adjustments (41) 14 Balance, end of year $ 1,131 $ 1,173 The following table presents the weighted average duration of Closed Block Life additional liabilities for annuitization, death and other insurance benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: December 31, 2022 2021 Weighted average duration (years) 8.1 7.7 The significant assumptions used in the additional liability for annuitization, death and other insurance benefits calculation consists of mortality, persistency, investment returns, and crediting rate. We have undertaken a comprehensive review of the significant assumptions used in the additional liability for annuitization, death and other insurance benefits calculation, and did not make any significant changes to the mortality, persistency, investment returns, or crediting rates in 2022 or 2021. The following table presents assessments and interest expense of Closed Block Life additional liabilities for annuitization, death and other insurance benefits recognized in the Consolidated Income Statements (in millions): Assessments Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Additional liability for annuitization, death and other insurance benefits $ (107) $ (102) $ 56 $ 56 The following table presents the weighted average current discount rate of Closed Block Life additional liabilities for annuitization, death and other insurance benefits, applied at the cohort level weighted by reserve benefit amount: December 31, 2022 2021 Weighted average current discount rate 4.96 % 4.93 %

Other Contract Holder Funds

Other Contract Holder Funds	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Other Contract Holder Funds	Other Contract Holder Funds This note is recast for the adoption of LDTI for 2022 and 2021. Other contract holder funds represent the policyholder account balance on our universal life-type products, investment contracts, and the fair value of the embedded derivatives associated with the indexed crediting features on our fixed index annuities and registered index-linked annuities. Universal life type contracts have an account balance as a principal component in which interest is credited to policyholders and assessments are deducted for mortality risk and contract administration. The account balance is recognized as a liability within other contract holder funds, and the liability is updated each period for fee and assessment deductions and increased for interest or returns credited to the account balance. Certain of our universal life type contracts contain features that are not classified as market risk benefits or embedded derivatives but provide additional benefits beyond the account balance or base insurance coverage for which a liability in addition to the account balance is necessary. These additional liabilities for death or other insurance benefits are reported as a component of reserves for future policy benefits and claims payable in the Consolidated Balance Sheets. See Note 9 of the Notes to the Consolidated Financial Statements for more information regarding these additional liabilities. Certain contracts without significant mortality or morbidity risk and certain annuities that lack insurance risk are treated as investment contracts. As investment contracts, payments received are reported as liabilities and accounted for in a manner that is consistent with the accounting for interest-bearing or other financial instruments, within other contract holder funds. The Company issues a variety of annuity products including fixed annuities, fixed index annuities, registered index linked annuities, variable annuities and payout annuities. For annuity contracts that are classified as investment contracts, the liability is the account balance as of the reporting date, reported within the other contract holder funds. For the variable annuity products only the allocations to fixed fund options are reported in other contract holder funds. For our fixed index annuities and registered index linked annuities, the equity-linked option issued by the Company is accounted for as an embedded derivative measured at fair value and reported as a component of other contract holder funds on the Consolidated Balance Sheets with changes in fair value recorded in net income within net gains (losses) on derivatives and investments. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the underlying guaranteed account value growth. This host contract liability is included as a component of other contract holder funds on the Consolidated Balance Sheets. Interest is accreted to the host contract liability using an effective yield method. Our annuity products may contain certain features or guarantees that are classified as market risk benefits. These market risk benefits are a component of the market risk benefits line items in the Consolidated Balance Sheet. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding market risk benefits. The Company’s institutional products business is comprised of the guaranteed investment contracts, medium-term funding agreement-backed notes and funding agreements (including agreements issued in conjunction with the Company’s participation in the U.S. Federal Home Loan Bank ("FHLB") program) described below. The Company has established a $27 billion aggregate Global Medium-Term Note ("MTN") program. Jackson National Life Global Funding was formed as a statutory business trust, solely for the purpose of issuing Medium-Term Note instruments to institutional investors, the proceeds of which are deposited with the Company and secured by the issuance of funding agreements. The carrying values at December 31, 2022 and 2021 totaled $5.9 billion and $6.0 billion, respectively. Those Medium-Term Note instruments issued in a foreign currency have been hedged for changes in exchange rates using cross-currency swaps. The unrealized foreign currency gains and losses on those Medium-Term Note instruments are included in the carrying value of the trust instruments supported by funding agreements. Trust instrument liabilities are adjusted to reflect the effects of foreign currency translation gains and losses using exchange rates as of the reporting date. Foreign currency translation gains and losses are included in net gains (losses) on derivatives and investments. Jackson is a member of the FHLBI primarily for the purpose of participating in the bank’s mortgage-collateralized loan advance program with long-term funding facilities. Advances are in the form of long-term notes or funding agreements issued to FHLBI. At December 31, 2022 and 2021, the Company held $146 million and $125 million of FHLBI capital stock, respectively, supporting $2.1 billion and $2.0 billion in funding agreements and long-term borrowings at December 31, 2022 and 2021, respectively. The following table presents the liabilities for other contract holder funds (in millions): December 31, 2022 2021 Payout Annuity $ 835 $ 830 Variable Annuity 10,259 9,456 Fixed Annuity 11,481 12,947 Fixed Indexed Annuities 11,787 13,161 RILA 1,875 110 Closed Block Life 11,215 11,570 Closed Block Annuity 1,319 1,394 Institutional Products 9,019 8,830 Other Product Lines 190 191 Total other contract holder funds $ 57,980 $ 58,489 The following table presents a roll-forward of other contract holder funds, gross of reinsurance (in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 Deposits 213 1,350 275 126 1,811 320 9 4,104 Surrenders, withdrawals and benefits (230) (1,492) (1,988) (1,414) (8) (766) (118) (6,016) Net transfers from (to) separate accounts — 870 — — — — — 870 Investment performance / change in value of equity option — — — (302) (37) — — (339) Interest credited 20 168 382 238 2 659 48 1,517 Policy charges and other 2 (93) (135) (22) (3) (568) (14) (833) Balance as of December 31, 2022 $ 835 $ 10,259 $ 11,481 $ 11,787 $ 1,875 $ 11,215 $ 1,319 $ 48,771 Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of January 1, 2021 $ 837 $ 10,094 $ 13,751 $ 14,028 $ — $ 11,836 $ 1,456 $ 52,002 Deposits 203 1,490 204 117 108 342 11 2,475 Surrenders, withdrawals and benefits (230) (1,816) (1,295) (1,464) — (699) (120) (5,624) Net transfers from (to) separate accounts — (384) — — — — — (384) Investment performance / change in value of equity option — — — 242 1 — — 243 Interest credited 24 165 395 259 — 669 48 1,560 Policy charges and other (4) (93) (108) (21) 1 (578) (1) (804) Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 The following table presents weighted average crediting rate, net amount at risk, and cash surrender value of contract holder account balances (dollars in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity December 31, 2022 Weighted-average crediting rate (1) 2.40 % 1.64 % 3.33 % 2.02 % 0.11 % 5.88 % 3.64 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 17,427 $ — Cash surrender value (3) $ — $ 10,101 $ 11,360 $ 11,409 $ 1,728 $ 7,096 $ 1,319 December 31, 2021 Weighted-average crediting rate (1) 2.89 % 1.74 % 3.05 % 1.97 % — % 5.78 % 3.44 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 18,506 $ — Cash surrender value (3) $ — $ 9,329 $ 12,767 $ 12,432 $ 102 $ 7,367 $ 1,394 (1) Weighted average crediting rate is the average crediting rate weighted by contract holder account balances invested in fixed account funds. (2) Net amount at risk represents the standard excess benefit base for guaranteed death benefits on universal life type products. The net amount at risk associated with market risk benefits are presented within Note 12 of the Notes to Consolidated Financial Statements. (3) Cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less the applicable surrender charges. At December 31, 2022 and 2021, excluding reinsurance business, approximately 92% and 93%, respectively, of the Company’s annuity account values correspond to crediting rates that are at the minimum guaranteed interest rates. At both of December 31, 2022 and 2021, excluding reinsurance business, approximately 65% of the Company’s closed block life account values correspond to crediting rates that are at the minimum guaranteed interest rates, respectively. The following table presents contract holder account balances invested in fixed account funds by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to other contract holder funds and the respective guaranteed minimums (in millions): December 31, 2022 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 6,679 $ 32 $ 2 $ 75 $ 6,788 1.51%-2.50% 200 — — — 200 Greater than 2.50% 3,271 — — — 3,271 Total $ 10,150 $ 32 $ 2 $ 75 $ 10,259 Fixed Annuities 0.00%-1.50% $ 19 $ 74 $ 93 $ — $ 186 1.51%-2.50% 34 2 1 — 37 Greater than 2.50% 366 63 346 — 775 Total $ 419 $ 139 $ 440 $ — $ 998 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 17 $ 5 $ 40 $ 68 1.51%-2.50% — — — — — Greater than 2.50% 24 — — — 24 Total $ 30 $ 17 $ 5 $ 40 $ 92 RILA 0.00%-1.50% $ 10 $ — $ 7 $ — $ 17 1.51%-2.50% $ — $ — $ — $ — — Greater than 2.50% — — — — — Total $ 10 $ — $ 7 $ — $ 17 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,566 1,868 619 14 7,067 Total $ 4,566 $ 1,868 $ 619 $ 14 $ 7,067 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 980 159 21 — 1,160 Total $ 980 $ 159 $ 22 $ 10 $ 1,171 December 31, 2021 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 5,964 $ 34 $ 3 $ — $ 6,001 1.51%-2.50% 206 — — — 206 Greater than 2.50% 3,249 — — — 3,249 Total $ 9,419 $ 34 $ 3 $ — $ 9,456 Fixed Annuities 0.00%-1.50% $ 20 $ 62 $ 77 $ — $ 159 1.51%-2.50% 37 2 2 — 41 Greater than 2.50% 235 66 357 — 658 Total $ 292 $ 130 $ 436 $ — $ 858 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 20 $ — $ — $ 26 1.51%-2.50% — — — — — Greater than 2.50% 30 — — — 30 Total $ 36 $ 20 $ — $ — $ 56 RILA 0.00%-1.50% $ 1 $ — $ — $ — $ 1 1.51%-2.50% — — — — — Greater than 2.50% — — — — — Total $ 1 $ — $ — $ — $ 1 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,764 1,929 640 14 7,347 Total $ 4,764 $ 1,929 $ 640 $ 14 $ 7,347 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 1,032 171 21 — 1,224 Total $ 1,032 $ 171 $ 22 $ 10 $ 1,235 This note is recast for the adoption of LDTI for 2022 and 2021. Contracts or contract features that provide protection to the contract holder from capital market risk and expose the Company to other-than-nominal capital market risk are classified as MRBs. All long-duration insurance contracts and certain investment contracts are subject to MRB evaluation. MRBs are measured at fair value at the contract level and can be in either an asset or liability position. For contracts that contain multiple MRB features, the MRBs are valued together as a single compound MRB. Market risk benefit assets and Market risk benefits liabilities are reported separately on the Consolidated Balance Sheets. Changes in fair value are reported in Net (gains) losses on market risk benefits on the Consolidated Income Statements. However, the change in fair value related to our own non-performance risk is reported as a component of other comprehensive income in Change in non-performance risk on market risk benefits on the Consolidated Statements of Comprehensive Income (Loss). A description of the items effecting the change in fair value by category is as follows: • Changes in interest rates — movement in risk free rates (impacts both assumed future separate account returns and discounting of cash flows) • Fund performance — separate account returns gross of fees • Change in equity index volatility — movement in implied volatility • Expected policyholder behavior — policyholder behavior as assumed in reserving • Actual policyholder behavior different than expected — difference between actual behavior during the period versus assumed behavior • Time — effect of passage of time including reduction to separate account balances from fees, the change in proximity of future cash flows, and impacts to policy features such as bonus credits • Change in assumptions — changes in assumptions resulting from our periodic review • Change in non-performance risk — changes in Jackson’s own credit spread See Note 6 of the Notes to Consolidated Financial Statements for more information regarding fair value measurements. Additionally, when an annuitization occurs (for annuitization benefits) or upon extinguishment of the account balance (for withdrawal benefits), the balance related to the MRB is derecognized and the amount deducted (after derecognition of any related amount included in accumulated other comprehensive income) is used in the calculation of the liability for future policy benefits for the resulting payout annuity. Variable Annuities Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. These guaranteed benefit features, as well as the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are classified as MRBs and measured at fair value. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. Variable annuity guaranteed benefit features classified as MRBs, which have explicit fees, are measured using the attributed fee method. Under the attributed fee method, fair value is measured as the difference between the present value of projected future liabilities and the present value of projected attributed fees. At the inception of the contract, the Company attributes to the MRB a portion of total fees expected to be assessed against the contract holder to offset the projected claims over the lifetime of the contract. The attributed fee is expressed as a percentage of total projected future fees at inception of the contract. This percentage of total projected fees is considered a fixed term of the MRB feature and is held static over the life of the contract. This percentage may not exceed 100% of the total projected contract fees as of contract inception. As the Company may issue contracts that have projected future liabilities greater than the projected future guaranteed benefit fees at issue, the Company may also attribute mortality and expense charges when performing this calculation. In subsequent valuations, both the present value of future projected liabilities and the present value of projected attributed fees are remeasured based on current market conditions and policyholder behavior assumptions. Fixed Index Annuities The longevity riders issued on fixed index annuities are classified as MRBs and measured at fair value. Similar to the variable annuity guaranteed benefits features, these contracts have explicit fees and are measured using the attributed fee method. The Company attributes a percentage of total projected future fees expected to be assessed against the policyholder to offset the projected future claims over the lifetime of the contract. If the fees attributed are insufficient to offset the claims at issue, the shortfall is borrowed from the host contract rather than recognizing a loss at inception. RILA RILA guaranteed benefit features are classified as MRBs and measured at fair value. Unlike variable or fixed index annuities, RILA products do not have explicit fees and are measured using an option-based method. The fair value measurement represents the present value of future claims payable by the MRB feature. At inception, the value of the MRB is deducted from the value of the contract resulting in no gain or loss. The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value. The significant assumptions used in the MRB fair value calculations are discussed in Note 6 of the Notes to Consolidated Financial Statements. The use of models and assumptions used to determine fair value of MRBs requires a significant amount of judgement. As such, we have undertaken a comprehensive review of the significant assumptions used. During 2022, the following notable changes were made to the inputs to the fair value estimates of the MRB calculations: • Assumed mortality rates for certain policies were increased as a result of trends in actual mortality experience within those blocks of business, which resulted in an increase in the MRB reserve. • Assumed lapse rates were reduced to capture recent trends in actual lapse experience and to reflect a strengthening of the risk margin, which resulted in an increase in the MRB reserve. • An update was made in the GMWB utilization modeling framework to allow for more direct modeling of certain product features and risk margins were strengthened to reflect the credibility associated with the increased granularity of the parameterization, which resulted in a net increase in the MRB reserve. No adjustments were made to the GMIB utilization rates. • Assumed GMWB withdrawal rates were increased as a result of trends in actual experience, which resulted in an increase in the MRB reserve. Minor adjustments were made to the free partial withdrawal rates on policies without a GMWB with no material impact on the resulting MRB reserve. • The non-performance risk adjustment increased as a result of increasing credit spreads, which resulted in a decrease in the MRB reserve that was recorded within OCI. • There were no changes made to assumed long-term equity volatility. • Increases in interest rates led to higher assumed separate account returns and higher discount rates, which resulted in a decrease in the MRB reserve. • Decreases in equity markets led to lower separate account fund performance and an increase in future projected benefits, which resulted in an increase in the MRB reserve. • Increases in equity index volatility led to lower assumed separate account returns, which resulted in an increase in the MRB reserve. During 2021, the following notable changes were made to the inputs to the fair value estimates of the MRB calculations: • Assumed mortality rates were adjusted downward slightly at older ages to better align with actual mortality experience, which resulted in a slight increase in the MRB reserve. • While lapse experience has generally stabilized in recent years, assumed lapse rates were reduced in specific segments of the structure to align more closely with experience, which resulted in an increase in the MRB reserves. • Assumed GMWB utilization rates were reduced in certain segments of the benefit structure to reflect emerging experience, which resulted in a decrease in the MRB reserve. No adjustments were made to the GMIB utilization rates. • Assumed GMWB withdrawal rates were increased as a result of trends in actual experience, which resulted in an increase in the MRB reserve. Minor adjustments were made to the free partial withdrawal rates on policies without a GMWB with no material impact on the resulting MRB reserve. • The non-performance risk adjustment decreased as a result of narrowing credit spreads, which resulted in an increase in the MRB reserve that was recorded within OCI. • There were no changes made to assumed long-term equity volatility. • Increases in interest rates led to higher assumed separate account returns and higher discount rates, which resulted in a decrease in the MRB reserve. • Increases in equity markets led to higher separate account fund performance and a decrease in future projected benefits, which resulted in a decrease in the MRB reserve. • Changes in equity index volatility were mixed throughout the year, which resulted in only minor impacts to the MRB reserve.

Separate Account Assets and Lia

Separate Account Assets and Liabilities	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Separate Account Assets and Liabilities	Separate Account Assets and Liabilities This note is recast for the adoption of LDTI for 2022 and 2021. The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (traditional variable annuities). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (variable contracts with guarantees) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (guaranteed minimum death benefits, or "GMDB"), at annuitization ("GMIB"), upon the depletion of funds ("GMWB") or at the end of a specified period ("GMAB"). These guarantees are classified as market risk benefits. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding market risk benefits. The separate account assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. At December 31, 2022 and December 31, 2021, the assets and liabilities associated with variable life and annuity contracts were $196 billion and $249 billion, respectively. Investment risks associated with market value changes are borne by the contract holders, except to the extent of minimum guarantees made by the Company. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the Consolidated Income Statements. Amounts assessed against the contract holders for mortality, variable annuity benefit guarantees, administrative, and other services are reported in revenue as fee income. Included in the separate account assets and liabilities described above is a Jackson issued group variable annuity contract designed for use in connection with and issued to the Company’s Defined Contribution Retirement Plan. These deposits are allocated to the Jackson National Separate Account - II, which had balances of $285 million and $390 million at December 31, 2022 and 2021, respectively. The Company receives administrative fees for managing the funds. These fees are recorded as earned and included in fee income in the Consolidated Income Statements. The following table presents the roll-forward of the separate account balance for variable annuities (in millions): December 31, 2022 2021 Balance as of beginning of year $ 248,469 $ 218,618 Deposits 12,288 17,588 Surrenders, withdrawals and benefits (14,554) (18,272) Net transfer from (to) general account (870) 384 Investment performance (47,150) 32,621 Policy charges and other (2,633) (2,470) Balance as of end of year, gross $ 195,550 $ 248,469 Cash surrender value (1) $ 190,243 $ 242,656 (1) Cash surrender value represents the amount of the contract holder’s account balances distributable at the balance sheet date less applicable surrender charges. The following table presents the reconciliation of the separate account balance in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Variable Annuities $ 195,550 $ 248,469 Other Product Lines 356 480 Total $ 195,906 $ 248,949 The following table presents aggregate fair value of assets, by major investment asset category, supporting separate accounts (in millions): December 31, 2022 2021 Variable Annuities By Fund Type Equity $ 132,547 $ 171,813 Bond 19,155 24,059 Balanced 40,797 50,534 Money Market 3,051 2,063 Total Variable Annuities 195,550 248,469 Other Product Lines 356 480 Total Separate Accounts $ 195,906 $ 248,949

Market Risk Benefits

Market Risk Benefits	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Market Risk Benefits	Other Contract Holder Funds This note is recast for the adoption of LDTI for 2022 and 2021. Other contract holder funds represent the policyholder account balance on our universal life-type products, investment contracts, and the fair value of the embedded derivatives associated with the indexed crediting features on our fixed index annuities and registered index-linked annuities. Universal life type contracts have an account balance as a principal component in which interest is credited to policyholders and assessments are deducted for mortality risk and contract administration. The account balance is recognized as a liability within other contract holder funds, and the liability is updated each period for fee and assessment deductions and increased for interest or returns credited to the account balance. Certain of our universal life type contracts contain features that are not classified as market risk benefits or embedded derivatives but provide additional benefits beyond the account balance or base insurance coverage for which a liability in addition to the account balance is necessary. These additional liabilities for death or other insurance benefits are reported as a component of reserves for future policy benefits and claims payable in the Consolidated Balance Sheets. See Note 9 of the Notes to the Consolidated Financial Statements for more information regarding these additional liabilities. Certain contracts without significant mortality or morbidity risk and certain annuities that lack insurance risk are treated as investment contracts. As investment contracts, payments received are reported as liabilities and accounted for in a manner that is consistent with the accounting for interest-bearing or other financial instruments, within other contract holder funds. The Company issues a variety of annuity products including fixed annuities, fixed index annuities, registered index linked annuities, variable annuities and payout annuities. For annuity contracts that are classified as investment contracts, the liability is the account balance as of the reporting date, reported within the other contract holder funds. For the variable annuity products only the allocations to fixed fund options are reported in other contract holder funds. For our fixed index annuities and registered index linked annuities, the equity-linked option issued by the Company is accounted for as an embedded derivative measured at fair value and reported as a component of other contract holder funds on the Consolidated Balance Sheets with changes in fair value recorded in net income within net gains (losses) on derivatives and investments. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the underlying guaranteed account value growth. This host contract liability is included as a component of other contract holder funds on the Consolidated Balance Sheets. Interest is accreted to the host contract liability using an effective yield method. Our annuity products may contain certain features or guarantees that are classified as market risk benefits. These market risk benefits are a component of the market risk benefits line items in the Consolidated Balance Sheet. See Note 12 of the Notes to Consolidated Financial Statements for more information regarding market risk benefits. The Company’s institutional products business is comprised of the guaranteed investment contracts, medium-term funding agreement-backed notes and funding agreements (including agreements issued in conjunction with the Company’s participation in the U.S. Federal Home Loan Bank ("FHLB") program) described below. The Company has established a $27 billion aggregate Global Medium-Term Note ("MTN") program. Jackson National Life Global Funding was formed as a statutory business trust, solely for the purpose of issuing Medium-Term Note instruments to institutional investors, the proceeds of which are deposited with the Company and secured by the issuance of funding agreements. The carrying values at December 31, 2022 and 2021 totaled $5.9 billion and $6.0 billion, respectively. Those Medium-Term Note instruments issued in a foreign currency have been hedged for changes in exchange rates using cross-currency swaps. The unrealized foreign currency gains and losses on those Medium-Term Note instruments are included in the carrying value of the trust instruments supported by funding agreements. Trust instrument liabilities are adjusted to reflect the effects of foreign currency translation gains and losses using exchange rates as of the reporting date. Foreign currency translation gains and losses are included in net gains (losses) on derivatives and investments. Jackson is a member of the FHLBI primarily for the purpose of participating in the bank’s mortgage-collateralized loan advance program with long-term funding facilities. Advances are in the form of long-term notes or funding agreements issued to FHLBI. At December 31, 2022 and 2021, the Company held $146 million and $125 million of FHLBI capital stock, respectively, supporting $2.1 billion and $2.0 billion in funding agreements and long-term borrowings at December 31, 2022 and 2021, respectively. The following table presents the liabilities for other contract holder funds (in millions): December 31, 2022 2021 Payout Annuity $ 835 $ 830 Variable Annuity 10,259 9,456 Fixed Annuity 11,481 12,947 Fixed Indexed Annuities 11,787 13,161 RILA 1,875 110 Closed Block Life 11,215 11,570 Closed Block Annuity 1,319 1,394 Institutional Products 9,019 8,830 Other Product Lines 190 191 Total other contract holder funds $ 57,980 $ 58,489 The following table presents a roll-forward of other contract holder funds, gross of reinsurance (in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 Deposits 213 1,350 275 126 1,811 320 9 4,104 Surrenders, withdrawals and benefits (230) (1,492) (1,988) (1,414) (8) (766) (118) (6,016) Net transfers from (to) separate accounts — 870 — — — — — 870 Investment performance / change in value of equity option — — — (302) (37) — — (339) Interest credited 20 168 382 238 2 659 48 1,517 Policy charges and other 2 (93) (135) (22) (3) (568) (14) (833) Balance as of December 31, 2022 $ 835 $ 10,259 $ 11,481 $ 11,787 $ 1,875 $ 11,215 $ 1,319 $ 48,771 Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of January 1, 2021 $ 837 $ 10,094 $ 13,751 $ 14,028 $ — $ 11,836 $ 1,456 $ 52,002 Deposits 203 1,490 204 117 108 342 11 2,475 Surrenders, withdrawals and benefits (230) (1,816) (1,295) (1,464) — (699) (120) (5,624) Net transfers from (to) separate accounts — (384) — — — — — (384) Investment performance / change in value of equity option — — — 242 1 — — 243 Interest credited 24 165 395 259 — 669 48 1,560 Policy charges and other (4) (93) (108) (21) 1 (578) (1) (804) Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 The following table presents weighted average crediting rate, net amount at risk, and cash surrender value of contract holder account balances (dollars in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity December 31, 2022 Weighted-average crediting rate (1) 2.40 % 1.64 % 3.33 % 2.02 % 0.11 % 5.88 % 3.64 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 17,427 $ — Cash surrender value (3) $ — $ 10,101 $ 11,360 $ 11,409 $ 1,728 $ 7,096 $ 1,319 December 31, 2021 Weighted-average crediting rate (1) 2.89 % 1.74 % 3.05 % 1.97 % — % 5.78 % 3.44 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 18,506 $ — Cash surrender value (3) $ — $ 9,329 $ 12,767 $ 12,432 $ 102 $ 7,367 $ 1,394 (1) Weighted average crediting rate is the average crediting rate weighted by contract holder account balances invested in fixed account funds. (2) Net amount at risk represents the standard excess benefit base for guaranteed death benefits on universal life type products. The net amount at risk associated with market risk benefits are presented within Note 12 of the Notes to Consolidated Financial Statements. (3) Cash surrender value represents the amount of the contract holder’s account balance distributable at the balance sheet date less the applicable surrender charges. At December 31, 2022 and 2021, excluding reinsurance business, approximately 92% and 93%, respectively, of the Company’s annuity account values correspond to crediting rates that are at the minimum guaranteed interest rates. At both of December 31, 2022 and 2021, excluding reinsurance business, approximately 65% of the Company’s closed block life account values correspond to crediting rates that are at the minimum guaranteed interest rates, respectively. The following table presents contract holder account balances invested in fixed account funds by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to other contract holder funds and the respective guaranteed minimums (in millions): December 31, 2022 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 6,679 $ 32 $ 2 $ 75 $ 6,788 1.51%-2.50% 200 — — — 200 Greater than 2.50% 3,271 — — — 3,271 Total $ 10,150 $ 32 $ 2 $ 75 $ 10,259 Fixed Annuities 0.00%-1.50% $ 19 $ 74 $ 93 $ — $ 186 1.51%-2.50% 34 2 1 — 37 Greater than 2.50% 366 63 346 — 775 Total $ 419 $ 139 $ 440 $ — $ 998 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 17 $ 5 $ 40 $ 68 1.51%-2.50% — — — — — Greater than 2.50% 24 — — — 24 Total $ 30 $ 17 $ 5 $ 40 $ 92 RILA 0.00%-1.50% $ 10 $ — $ 7 $ — $ 17 1.51%-2.50% $ — $ — $ — $ — — Greater than 2.50% — — — — — Total $ 10 $ — $ 7 $ — $ 17 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,566 1,868 619 14 7,067 Total $ 4,566 $ 1,868 $ 619 $ 14 $ 7,067 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 980 159 21 — 1,160 Total $ 980 $ 159 $ 22 $ 10 $ 1,171 December 31, 2021 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 5,964 $ 34 $ 3 $ — $ 6,001 1.51%-2.50% 206 — — — 206 Greater than 2.50% 3,249 — — — 3,249 Total $ 9,419 $ 34 $ 3 $ — $ 9,456 Fixed Annuities 0.00%-1.50% $ 20 $ 62 $ 77 $ — $ 159 1.51%-2.50% 37 2 2 — 41 Greater than 2.50% 235 66 357 — 658 Total $ 292 $ 130 $ 436 $ — $ 858 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 20 $ — $ — $ 26 1.51%-2.50% — — — — — Greater than 2.50% 30 — — — 30 Total $ 36 $ 20 $ — $ — $ 56 RILA 0.00%-1.50% $ 1 $ — $ — $ — $ 1 1.51%-2.50% — — — — — Greater than 2.50% — — — — — Total $ 1 $ — $ — $ — $ 1 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,764 1,929 640 14 7,347 Total $ 4,764 $ 1,929 $ 640 $ 14 $ 7,347 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 1,032 171 21 — 1,224 Total $ 1,032 $ 171 $ 22 $ 10 $ 1,235 This note is recast for the adoption of LDTI for 2022 and 2021. Contracts or contract features that provide protection to the contract holder from capital market risk and expose the Company to other-than-nominal capital market risk are classified as MRBs. All long-duration insurance contracts and certain investment contracts are subject to MRB evaluation. MRBs are measured at fair value at the contract level and can be in either an asset or liability position. For contracts that contain multiple MRB features, the MRBs are valued together as a single compound MRB. Market risk benefit assets and Market risk benefits liabilities are reported separately on the Consolidated Balance Sheets. Changes in fair value are reported in Net (gains) losses on market risk benefits on the Consolidated Income Statements. However, the change in fair value related to our own non-performance risk is reported as a component of other comprehensive income in Change in non-performance risk on market risk benefits on the Consolidated Statements of Comprehensive Income (Loss). A description of the items effecting the change in fair value by category is as follows: • Changes in interest rates — movement in risk free rates (impacts both assumed future separate account returns and discounting of cash flows) • Fund performance — separate account returns gross of fees • Change in equity index volatility — movement in implied volatility • Expected policyholder behavior — policyholder behavior as assumed in reserving • Actual policyholder behavior different than expected — difference between actual behavior during the period versus assumed behavior • Time — effect of passage of time including reduction to separate account balances from fees, the change in proximity of future cash flows, and impacts to policy features such as bonus credits • Change in assumptions — changes in assumptions resulting from our periodic review • Change in non-performance risk — changes in Jackson’s own credit spread See Note 6 of the Notes to Consolidated Financial Statements for more information regarding fair value measurements. Additionally, when an annuitization occurs (for annuitization benefits) or upon extinguishment of the account balance (for withdrawal benefits), the balance related to the MRB is derecognized and the amount deducted (after derecognition of any related amount included in accumulated other comprehensive income) is used in the calculation of the liability for future policy benefits for the resulting payout annuity. Variable Annuities Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. These guaranteed benefit features, as well as the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are classified as MRBs and measured at fair value. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. Variable annuity guaranteed benefit features classified as MRBs, which have explicit fees, are measured using the attributed fee method. Under the attributed fee method, fair value is measured as the difference between the present value of projected future liabilities and the present value of projected attributed fees. At the inception of the contract, the Company attributes to the MRB a portion of total fees expected to be assessed against the contract holder to offset the projected claims over the lifetime of the contract. The attributed fee is expressed as a percentage of total projected future fees at inception of the contract. This percentage of total projected fees is considered a fixed term of the MRB feature and is held static over the life of the contract. This percentage may not exceed 100% of the total projected contract fees as of contract inception. As the Company may issue contracts that have projected future liabilities greater than the projected future guaranteed benefit fees at issue, the Company may also attribute mortality and expense charges when performing this calculation. In subsequent valuations, both the present value of future projected liabilities and the present value of projected attributed fees are remeasured based on current market conditions and policyholder behavior assumptions. Fixed Index Annuities The longevity riders issued on fixed index annuities are classified as MRBs and measured at fair value. Similar to the variable annuity guaranteed benefits features, these contracts have explicit fees and are measured using the attributed fee method. The Company attributes a percentage of total projected future fees expected to be assessed against the policyholder to offset the projected future claims over the lifetime of the contract. If the fees attributed are insufficient to offset the claims at issue, the shortfall is borrowed from the host contract rather than recognizing a loss at inception. RILA RILA guaranteed benefit features are classified as MRBs and measured at fair value. Unlike variable or fixed index annuities, RILA products do not have explicit fees and are measured using an option-based method. The fair value measurement represents the present value of future claims payable by the MRB feature. At inception, the value of the MRB is deducted from the value of the contract resulting in no gain or loss. The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value. The significant assumptions used in the MRB fair value calculations are discussed in Note 6 of the Notes to Consolidated Financial Statements. The use of models and assumptions used to determine fair value of MRBs requires a significant amount of judgement. As such, we have undertaken a comprehensive review of the significant assumptions used. During 2022, the following notable changes were made to the inputs to the fair value estimates of the MRB calculations: • Assumed mortality rates for certain policies were increased as a result of trends in actual mortality experience within those blocks of business, which resulted in an increase in the MRB reserve. • Assumed lapse rates were reduced to capture recent trends in actual lapse experience and to reflect a strengthening of the risk margin, which resulted in an increase in the MRB reserve. • An update was made in the GMWB utilization modeling framework to allow for more direct modeling of certain product features and risk margins were strengthened to reflect the credibility associated with the increased granularity of the parameterization, which resulted in a net increase in the MRB reserve. No adjustments were made to the GMIB utilization rates. • Assumed GMWB withdrawal rates were increased as a result of trends in actual experience, which resulted in an increase in the MRB reserve. Minor adjustments were made to the free partial withdrawal rates on policies without a GMWB with no material impact on the resulting MRB reserve. • The non-performance risk adjustment increased as a result of increasing credit spreads, which resulted in a decrease in the MRB reserve that was recorded within OCI. • There were no changes made to assumed long-term equity volatility. • Increases in interest rates led to higher assumed separate account returns and higher discount rates, which resulted in a decrease in the MRB reserve. • Decreases in equity markets led to lower separate account fund performance and an increase in future projected benefits, which resulted in an increase in the MRB reserve. • Increases in equity index volatility led to lower assumed separate account returns, which resulted in an increase in the MRB reserve. During 2021, the following notable changes were made to the inputs to the fair value estimates of the MRB calculations: • Assumed mortality rates were adjusted downward slightly at older ages to better align with actual mortality experience, which resulted in a slight increase in the MRB reserve. • While lapse experience has generally stabilized in recent years, assumed lapse rates were reduced in specific segments of the structure to align more closely with experience, which resulted in an increase in the MRB reserves. • Assumed GMWB utilization rates were reduced in certain segments of the benefit structure to reflect emerging experience, which resulted in a decrease in the MRB reserve. No adjustments were made to the GMIB utilization rates. • Assumed GMWB withdrawal rates were increased as a result of trends in actual experience, which resulted in an increase in the MRB reserve. Minor adjustments were made to the free partial withdrawal rates on policies without a GMWB with no material impact on the resulting MRB reserve. • The non-performance risk adjustment decreased as a result of narrowing credit spreads, which resulted in an increase in the MRB reserve that was recorded within OCI. • There were no changes made to assumed long-term equity volatility. • Increases in interest rates led to higher assumed separate account returns and higher discount rates, which resulted in a decrease in the MRB reserve. • Increases in equity markets led to higher separate account fund performance and a decrease in future projected benefits, which resulted in a decrease in the MRB reserve. • Changes in equity index volatility were mixed throughout the year, which resulted in only minor impacts to the MRB reserve.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Liabilities for the Company’s debt are primarily carried at an amount equal to the principal balance net of any unamortized original issuance discount or premium. Original issuance discount or premium and any debt issue costs, if applicable, are recognized as a component of interest expense over the period the debt is expected to be outstanding. The aggregate carrying value of long-term debt was as follows (in millions): December 31, 2022 2021 Long-Term Debt Surplus notes $ 408 $ 427 FHLBI bank loans 62 67 Total long-term debt $ 470 $ 494 At December 31, 2022, the above borrowings were all due after five years. Surplus Notes Under Michigan insurance law, for statutory reporting purposes, the surplus notes are not part of the legal liabilities of the Company and are considered surplus funds. Payments of interest or principal may only be made with the prior approval of the Michigan Director of Insurance and only out of surplus earnings which the director determines to be available for such payments under Michigan insurance law. On March 15, 1997, the Company issued 8.2% surplus notes in the principal amount of $250 million due March 15, 2027. These surplus notes were issued pursuant to Rule 144A under the Securities Act of 1933, as amended, and are unsecured and subordinated to all present and future indebtedness, policy claims and other creditor claims and may not be redeemed at the option of the Company or any holder prior to maturity. Interest is payable semi-annually on March 15th and September 15th of each year. Interest expense on the notes was $20 million, $20 million, and $21 million for the years ended December 31, 2022, 2021 and 2020, respectively. In conjunction with a reserve financing transaction, Squire Re II issued a surplus note (the "Squire Surplus Note") to an affiliate. The Squire Surplus Note matures December 30, 2031 and bears interest at 4.4%, payable quarterly. Interest expense on the Squire Surplus Note was $6 million, $8 million, and $10 million for the years ended December 31, 2022, 2021 and 2020, respectively. FHLB Loans The Company received loans of $50 million from the FHLBI under its community investment program in both 2015 and 2014, which amortize on a straight-line basis over the loan term. The weighted average interest rate on these loans was 1.7% and 0.1% for the years ended December 31, 2022 and 2021, respectively.

Federal Home Loan Bank Advances

Federal Home Loan Bank Advances	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Federal Home Loan Bank Advances	Federal Home Loan Bank AdvancesThe Company entered into an advance program with the FHLBI in which interest rates were either fixed or variable based on the FHLBI cost of funds or market rates. Advances of nil were outstanding at both December 31, 2022 and 2021 and were recorded in other liabilities.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes U.S. Tax Law Changes On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. The IRA includes a new Federal alternative minimum tax (“AMT”), effective in 2023, that is based on 15% of an applicable corporation’s adjusted financial statement income (“AFSI”). A corporation will be subject to the AMT if its average pre-tax AFSI over three prior years (starting with 2020-2022) is greater than $1 billion (an “applicable corporation”). Upon becoming an applicable corporation, an entity will remain so for all future years, except under limited circumstances. The corporation’s AMT liability is payable to the extent the AMT liability exceeds regular corporate income tax. However, any AMT paid would be indefinitely available as a credit carryover that could reduce future regular corporate income tax in excess of AMT. We believe that we will be an applicable corporation starting in 2023. That determination is based on interpretations and assumptions we have made regarding the AMT provisions of the IRA, which may change once regulatory guidance is issued. As of December 31, 2022, we have not recorded any provision for the AMT. The U.S. Department of the Treasury is expected to issue regulatory guidance throughout 2023. The IRA also creates a 1% excise tax on stock buybacks of publicly-traded U.S. corporations. Starting in 2023, such excise tax generally applies if a company repurchases in excess of $1 million worth of its stock in any given calendar year. The impact of this provision will be dependent on the extent of share repurchases made in future periods. It is anticipated that there will be no impact to the Company as any excise tax incurred on corporate stock repurchases will not be reported as income tax expense and generally will be recognized as part of the cost basis of the treasury stock recorded by Jackson Financial. On March 27, 2020, H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act, “the CARES ACT”, was signed into legislation. The CARES ACT includes tax provisions relevant to businesses that during 2020 impacted taxes related to 2018 and 2019. Some of the significant changes are reducing the interest expense disallowance for 2019 and 2020, allowing the five-year carryback of net operating losses for 2018-2020, suspension of the 80% limitation of taxable income for net operating loss carryforwards for 2018-2020, and the acceleration of depreciation expense from 2018 and forward on qualified improvement property. In 2020, the Company recognized a tax benefit of $16 million as a result of the CARES ACT. In addition, the Taxpayer Certainty & Disaster Tax Relief Act was enacted on December 27, 2020. There was no impact to taxes from this legislation in 2021 or 2020. Effective Tax Rate The components of the provision for federal, state and local income taxes were as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Current tax expense (benefit) Federal $ (43) $ (78) $ (67) State and local 1 (3) 2 Total current tax expense (benefit) (42) (81) (65) Deferred tax expense (benefit) Federal 1,513 736 (703) State and local 59 25 (73) Total deferred tax expense (benefit) 1,572 761 (776) Total income taxes $ 1,530 $ 680 $ (841) For the tax year ended December 31, 2021, current tax benefit includes $24 million benefit of net interest related to tax refunds and $3 million benefit for the reversal of the uncertain tax position. The federal income tax provisions differ from the amounts determined by multiplying pretax income attributable to the Company by the statutory federal income tax rate of 21% were as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Income taxes at statutory rate $ 1,645 $ 872 $ (503) State income taxes (1) 48 18 (56) Dividends received deduction (142) (146) (158) U.S. federal tax reform impact (2) — — (16) Foreign and other tax credits (3) (24) (46) (61) Prior year deferred tax benefit — — (53) Other (4) 3 (18) 6 Income tax (benefit) expense $ 1,530 $ 680 $ (841) Effective tax rate 19.5 % 16.3 % 35.1 % (1) For the year ended December 31, 2020, includes a benefit of $33 million relating to prior periods. (2) For the year ended December 31, 2020, the benefit is the result of the CARES Act. (3) For the years ended December 31, 2022, 2021 and 2020, this primarily represents the benefit from foreign tax credits generated by the fund investments of the variable life and annuity contracts. (4) Aggregation of insignificant reconciling items that are less than 5% of the computed income tax expense (benefit). The dividends received deduction (“DRD”) reduces the amount of dividend income subject to tax. The DRD for the current period was estimated using information from the prior year and estimates of current year investments results. The actual current year DRD can vary based on factors including, changes in the amount of dividends received that are eligible for the DRD, changes in the amount of distributions received from fund investments, changes in the account balances of variable life and annuity contracts, and the Company’s taxable income before the DRD. Income Taxes Paid Income taxes paid (refunded) were $(2) million, $(390) million, and $(4) million in 2022, 2021 and 2020, respectively. The income taxes refunded in 2021 include $(314) million of taxes and $(24) million of net interest related to the IRS audit that closed during the year and $(51) million of refunds from the overpayment of 2020 taxes in 2021. Deferred Taxes and Assessment of Valuation Allowance The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Gross deferred tax asset Difference between financial reporting and the tax basis of: Policy reserves and other insurance items $ 1,647 $ 3,306 Employee benefits 135 151 Derivative investments 789 1,129 Net unrealized losses 1,359 — Net operating loss carryforward 547 284 Other 73 11 Total gross deferred tax asset 4,550 4,881 Valuation allowance (900) — Gross deferred tax asset, net of valuation allowance $ 3,650 $ 4,881 Gross deferred tax liability Difference between financial reporting and the tax basis of: Deferred acquisition costs and sales inducements $ (2,584) $ (2,701) Other investment items (789) (22) Net unrealized gains — (469) Other (29) (18) Total gross deferred tax liability (3,402) (3,210) Net deferred tax asset $ 248 $ 1,671 Deferred income taxes arise from the recognition of temporary differences between the basis of assets and liabilities determined for financial reporting purposes and the basis determined for income tax purposes. Such temporary differences are principally related to the effects of recording certain invested assets at market value, the deferral of acquisition costs and sales inducements and the provisions for future policy benefits and expenses. Deferred tax assets and liabilities are measured using the tax rates expected to be in effect when such benefits are realized. In 2016, the Company reached an agreement with the IRS regarding the taxation of hedging activities. This agreement requires the current taxation of all unrealized gains and losses on hedge-related investments, but then defers two-thirds of the amount ratably over the following two years. Accordingly, there is an acceleration of taxes incurred currently and a related offset to the taxes being deferred. The Company is required to evaluate the recoverability of its deferred tax assets and establish a valuation allowance, if necessary, to reduce its deferred tax asset to an amount that is more-likely-than-not to be realizable. Considerable judgment and the use of estimates are required when determining whether a valuation allowance is necessary and, if so, the amount of such valuation allowance. When evaluating the need for a valuation allowance, the Company considers many factors, including: the nature and character of the deferred tax assets and liabilities; taxable income in prior carryback years; future reversals of temporary differences; the length of time carryovers can be utilized; and any tax planning strategies the Company would employ to avoid a tax benefit from expiring unused. The Company utilized a three-year rolling calculation of actual comprehensive income before taxes adjusted for permanent items to measure the cumulative losses in recent years. In 2020, the Company entered into a funds withheld coinsurance agreement with Athene. The cumulative comprehensive income includes items that are not indicative of the Company’s ability to generate future taxable income. As such, an adjustment was made to exclude the change in AOCI not attributable to the funds withheld coinsurance agreement with Athene. The change in AOCI attributable to these assets is excluded because our invested assets are generally invested to closely match the duration of our liabilities, which are longer duration in nature, and therefore the Company believes that the period-to-period fair market value fluctuations in AOCI are inconsistent when analyzing trends in our business. The changes in AOCI within the funds withheld account related to the Athene Reinsurance Transaction are not excluded because they offset the related earnings from the Athene Reinsurance Transaction included in pre-tax income, and this appropriately results in removing the impact from the Athene Reinsurance Transaction from the cumulative income test which economically should be minimal over the life of the reinsured business. Based on these factors, it is reasonable for the Company rely on the estimated projection of future income as evidence in assessing the sources of taxable income available to realize the benefit of deferred tax assets. The Company evaluated each component of the deferred tax asset and assessed the effects of limitations and/or interpretations on the value of such components to be fully recognized in the future. The Company also evaluated the likelihood of sufficient taxable income in the future to offset the available deferred tax assets based on evidence considered to be objective and verifiable. Based on the analysis at December 31, 2022 and 2021, the Company concluded that it is more-likely-than-not, that the $248 million and $1,671 million, respectively, of net deferred tax assets will be realized through future projected taxable income. For the year ended December 31, 2022, recent changes in market conditions, including rising interest rates, impacted the unrealized tax gains and losses in the available for sale securities portfolio resulting in deferred tax assets related to net unrealized tax capital losses for the Company. The deferred tax asset relates to the unrealized losses for which the carryforward period has not yet begun, and as such, when assessing its recoverability, we consider our ability and intent to hold the underlying securities to recovery, our capital loss carryback capacity, along with reversing capital deferred tax liabilities. As of December 31, 2022, based on all available evidence, we concluded that a valuation allowance should be established on a portion of the deferred tax asset related to unrealized losses that are not more-likely-than-not to be realized. The valuation allowance against deferred taxes at December 31, 2022 of $900 million and at December 31, 2021 of nil is against the portion of the net unrealized tax capital losses in the Company’s available for sale securities portfolio not more-likely-than-not realizable. All of the valuation allowance establishment was allocated to other comprehensive income. The net change in the total valuation allowance for the year ended December 31, 2022 and December 31, 2021 was an increase of $900 million and nil, respectively. Carryforwards The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,377 $ 1,178 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 347 158 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 2,911 $ 1,479 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $124 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10-year carryforward. (5) Subject to Section 383 limitations. Accounting for Uncertainty in Income Taxes The Company determines whether a tax position is more likely than not to be sustained upon examination by tax authorities. The portion of a tax position that is greater than the 50% likelihood of being realized is recorded on the financial statements and any unrecognized part of a position due to uncertainties are recorded as a liability and are charged to income tax in the period that determination is made. The Company has considered both permanent and temporary positions in determining the unrecognized tax benefit. At December 31, 2022, the Company held no reserves related to unrecognized tax benefits. For the year ended December 31, 2021, the Company decreased the reserve by $2 million related to a change in the calculation of its tax basis reserves as a result of the lapse of the statute of limitations, which resulted in no reserves related to unrecognized tax benefits at December 31, 2021. The Company recognizes interest and penalties accrued, if any, related to unrecognized tax benefits as a component of income tax (benefit) expense. The Company did not recognize any interest and penalty expense in 2022, 2021 or 2020. For 2022 and 2021, the Company did not accrue any amounts for interest expense. For 2022 and 2021, the Company did not accrue any amounts for penalties. Based on information available as of December 31, 2022, the Company believes that, in the next 12 months, there are no positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease. Tax Examinations and Litigation The Company is no longer subject to U.S. federal tax examinations by tax authorities for years prior to 2018. Tax years from 2018 to 2022 remain open under the statute of limitations. Certain of the Company’s subsidiaries’ state income tax returns are currently under examination by various jurisdictions for years ranging from 2018 to 2021. The Company does not anticipate any material changes from any of these audits. Organization and Tax Sharing Agreements The Company's parent, Brooke Life, files a consolidated U.S. Federal income tax return including the life insurance subsidiaries Jackson, JNY, and Squire Re II. The Company also files income tax returns with various state and local jurisdictions, as well as certain foreign jurisdictions. Jackson National Life (Bermuda) LTD and VFL International Life Company SPC, LTD are taxed as controlled foreign corporations of Jackson. With the exception of several insignificant wholly-owned subsidiaries that are not included in the Brooke Life consolidated tax return, all other subsidiaries of Jackson are limited liability companies with all of their interests owned by Jackson. Accordingly, they are not considered separate entities for income tax purposes and, therefore, are taxed as part of the operations of Jackson. Income tax expense is calculated on a separate company basis. Brooke Life, Jackson, JNY, and Squire Re II have entered into written tax sharing agreements. These tax sharing agreements are generally based on a separate return basis with benefits for credits and losses.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIn the ordinary course of business, the Company and its subsidiaries are parties to legal actions and, at times, regulatory investigations. Given the inherent unpredictability of these matters, it is difficult to estimate their impact on the Company’s financial position. A reserve is established for contingent liabilities if it is probable that a loss has been incurred and the amount is reasonably estimable. It is possible that an adverse outcome in certain of the Company’s contingent liabilities, or the use of different assumptions in the determination of amounts recorded, could have a material effect upon the Company’s financial position. However, it is the opinion of management that the ultimate disposition of contingent liabilities is unlikely to have a material adverse effect on the Company’s financial position. Jackson has been named in civil litigation proceedings, which appear to be substantially similar to other class action litigation brought against many life insurers including allegations of misconduct in the sale of insurance products. The Company accrues for legal contingencies once the contingency is deemed to be probable and reasonably estimable.At December 31, 2022, the Company had unfunded commitments related to its investments in limited partnerships and limited liability companies totaling $1,398 million. At December 31, 2022, unfunded commitments related to fixed-rate mortgage loans and other debt securities totaled $1,169 million.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases The Company leases office space and equipment under operating leases that expire at various dates through 2051. The Company determines if a contract is a lease at inception or modification. Lease terms may include options to extend or terminate the lease and are included in the lease measurement when it is reasonably certain that the Company will exercise that option. Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and corresponding lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are determined using the Company’s incremental borrowings rate based upon information available at lease commencement. Certain lease incentives such as free rent periods are recorded as a reduction of the ROU asset. Lease costs for operating leases are recognized on a straight-line basis over the life of the lease. The Company has lease agreements with lease and non-lease components. The Company elected the practical expedient to combine lease and non-lease components for certain real estate leases. Variable lease expenses may include changes in index-linked lease payments and certain variable operating expenses associated with real estate leases. These payments are recognized in operating expenses in the period incurred. At December 31, 2022 and 2021, the Company had operating lease net ROU assets of $11 million and $14 million and associated lease liabilities of $18 million and $23 million, respectively, classified within other assets other liabilities The following table summarizes the components of operating lease costs and other information related to operating leases recorded within operating costs and other expenses, net of deferrals, (in millions): Years Ended December 31, 2022 2021 2020 Lease Cost: Operating leases (1) $ 6 $ 7 $ 11 Variable lease costs 2 2 2 Sublease income (3) (4) (5) Net Lease Cost $ 5 $ 5 $ 8 Other Information: Cash paid for amounts included in the measurement of operating lease liability $ 6 $ 7 $ 10 Weighted average lease term 5 years 5 years 6 years Weighted average discount rate 3.7 % 3.6 % 3.6 % (1) Operating lease costs exclude software leases, as intangible assets are excluded from the scope of Accounting Standard Codification 842, Leases. At December 31, 2022, the maturities of operating lease liabilities were as follows (in millions): 2023 $ 6 2024 5 2025 3 2026 3 2027 1 Thereafter 2 Total $ 20 Less: interest 2 Present value of lease liabilities $ 18

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation Prudential Share Plans Historically, certain associates participated in various share award plans relating to Prudential shares and/or American Depositary Receipts (“ADRs”) that were tradable on the New York Stock Exchange. Outstanding non-vested Prudential ADRs granted as of December 31, 2020 were 4,728,473. In 2021, these plans were replaced through a re-issuance under Jackson Financial’s 2021 Omnibus Incentive Plan (the “Incentive Plan”) and the remaining outstanding Prudential awards were exchanged for Jackson Financial awards under the new Incentive Plan as further described below. 2021 Omnibus Incentive Plan In April 2021, Jackson Financial’s Board of Directors adopted, and Jackson Financial’s shareholders approved, the Incentive Plan. This Incentive Plan became effective following the completion of the Demerger and replaced the Prudential Share Plans. The outstanding unvested awards previously issued under the Prudential Share Plans were exchanged for equivalent awards of shares of Jackson Financial’s Class A Common Stock under the Incentive Plan, with a grant date of October 4, 2021. The performance conditions of the awards were modified, based on U.S. GAAP based metrics, rather than International Financial Reporting Standards ("IFRS"). The incremental compensation cost resulting from the modifications will be recognized ratably over the remaining requisite service period of each award. The Incentive Plan allows for stock-based awards including stock options, stock appreciation rights, restricted share awards, performance share awards, and deferred share units. The Incentive Plan has a ten-year term, expiring in September 2031. Jackson Financial currently has Restricted Share Unit and Performance Unit equity-based compensation awards outstanding. Dividend equivalents are generally accrued on restricted share units and performance share units outstanding as of the record date. These dividend equivalents are paid only on restricted share units and performance share units that ultimately vest. Generally, the requisite service period is the vesting period. In the case of retirement (eligibility for which is based on the associate's age and years of service as provided in the relevant award agreement), awards vest in full, but are subject to the satisfaction of any applicable performance criteria and paid in line with the original vesting date. The Company reflects the cash settled awards of the above Incentive Plan as a liability classified plan and, therefore, reports the accrued compensation expense and the value of the cash settled awards within other liabilities. At December 31, 2022 and 2021, the Company had accrued $65 million and $61 million, respectively, for future payments under this plan, respectively. Jackson Financial allocates a portion of the compensation expense associated with the share-settled awards to Jackson, which Jackson settles with Jackson Financial monthly, on a one-month lag. Restricted Share Units ("RSUs") Jackson Financial grants RSUs to certain associates and non-employee directors. The majority of associate RSUs are expected to vest in three Outstanding non-vested liability classified RSUs granted to associates were as follows: Year Ended December 31, 2022 Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,568,395 $ 26.09 Granted (1) 919,084 $ 38.71 Vested (680,089) $ 26.93 Forfeited (75,859) $ 28.48 Non-vested at end of period 1,731,531 $ 32.77 Year Ended December 31, 2021 Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period — $ — Granted (1) 1,338,880 $ 26.57 Vested — $ — Forfeited (5,177) $ 26.41 Re-issuance due to modification 234,692 $ 26.41 Non-vested at end of period 1,568,395 $ 26.09 (1) Includes dividend equivalents granted in the current period on awards outstanding Performance Share Units ("PSUs") Jackson Financial grants PSUs to certain associates. PSU vesting is contingent on meeting a specified service requirement and the level of achievement of performance conditions. The PSU awards entitle recipients to receive, upon vesting, a number of units that range from 0% to 200% of the number of PSUs awarded, depending on the level of achievement of the specified performance conditions. The awards are generally expected to vest after a period of three years, subject to forfeiture and transfer restrictions, and are payable in cash or shares of Jackson Financial common stock at Jackson Financial’s discretion. However, the awards granted in 2021 will have a shortened, 30-month vesting period. Award recipients have immediate dividend rights and voting rights upon issuance of underlying shares when the share units vest. The dividends on unvested PSUs are awarded in additional units equal to the value of the dividends and are subject to the same vesting and distribution conditions as the underlying PSUs. The modified PSU awards retained their vesting and performance conditions, modified based on U.S. GAAP based metrics, rather than IFRS. Outstanding non-vested liability classified PSUs granted were as follows: Year Ended December 31, 2022 Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,519,122 $ 26.56 Granted (1) 217,270 $ 37.81 Vested (525,143) $ 26.63 Forfeited (81,196) $ 26.76 Non-vested at end of period 1,130,053 $ 28.67 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period — $ — Granted (1) 219,139 $ 27.44 Vested — $ — Forfeited (3,087) $ 26.41 Re-issuance due to modification 1,303,070 $ 26.41 Non-vested at end of period 1,519,122 $ 26.56 (1) Includes dividend equivalents granted in the current period on awards outstanding Compensation Cost The Company charges the fair value of the RSUs and PSUs to expense over the requisite service period. The fair value of equity-classified RSUs and PSUs is based on the price of Jackson Financial’s common stock on the grant date. The fair value of liability-classified RSUs and PSUs is based on the price of Jackson Financial’s common stock as of the reporting date. For performance-based awards, Jackson Financial estimates the number of shares expected to vest at the end of the performance period based on the probable achievement of the performance objectives. RSUs have graded vesting features and the Company recognizes expense for those awards on a straight-line basis over the requisite service period. Jackson Financial recognizes forfeitures as they occur when recognizing share-based compensation expense. Total expense related to these share-based plans was as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Compensation expense recognized $ 118 $ 97 $ 44 Income tax benefit recognized $ 23 $ 19 $ 9

Other Related Party Transaction

Other Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Other Related Party Transactions	Other Related Party Transactions The Company's investment portfolio is managed by PPM America, Inc. ("PPM"), a registered investment adviser, and an indirect, wholly-owned subsidiary of Jackson Financial. The Company paid $58 million, $58 million, and $65 million for investment advisory services during the years ended December 31, 2022, 2021 and 2020. The Company has entered into a shared services administrative agreement with PPM. Under the shared services administrative agreement, the Company charged $7 million, $6 million, and $9 million of certain management and corporate services costs in 2022, 2021 and 2020, respectively. The Company provided a $75 million revolving credit facility to PPM. The loan is unsecured and matures in September 2028, accrues interest at Secured Overnight Financing Rate ("SOFR") plus 2% plus 0.12% spread adjustment, and has a commitment fee of 0.1% per annum. At both December 31, 2022 and 2021, the outstanding balance was $20 million. The highest outstanding loan balance during both 2022 and 2021 was $20 million. The Company provides a $100 million revolving credit facility to Jackson Financial, an upstream holding company. The loan is unsecured and matures in December 2026, accrues interest at SOFR plus 2% plus 0.12% spread adjustment, and has a commitment fee of 0.1% per annum. There was no outstanding balance at both December 31, 2022 and 2021, respectively. The highest outstanding loan balance during 2022 and 2021 was nil and $30 million, respectively. The Company has entered into a shared services administrative agreement with Jackson Financial. Under the shared services administrative agreement, the Company charged $18 million of certain management and corporate services costs in 2022. The Company has a Master Repurchase Agreement with Jackson Financial, which allows for repurchase agreement transactions between the companies. There were no such borrowings during 2022. There was no outstanding balance as of December 31, 2022. Interest paid during 2022 was nil. The Company provides a $20 million revolving credit facility to Jackson Holdings, LLC, an upstream holding company. The loan is unsecured, matures in June 2024, accrues interest at LIBOR plus 2% per annum and has a commitment fee of 0.25% per annum. The outstanding balance at both December 31, 2022 and 2021 was nil. The highest outstanding loan balance during both 2022 and 2021 was nil. The Company, through its PGDS subsidiary, provides various information security and technology services to certain Prudential affiliated entities. The Company recognized nil, $4 million, and $5 million of revenue during the years ended December 31, 2022, 2021 and 2020, associated with these services. This revenue is included in other income in the accompanying Consolidated Income Statements and is substantially equal to the costs incurred to provide the services, which are reported in operating costs and other expenses in the Consolidated Income Statements. The investments in the segregated account related to the Coinsurance Agreement with Athene are subject to an investment management agreement between the Company and Apollo Insurance Solutions Group LP (“Apollo”), which merged with Athene in 2022. Apollo management fees, which are calculated and paid monthly in arrears, are paid directly from the funds withheld account, administered by Athene. Payments associated with these services were $83 million, $104 million, and $60 million during the years ended December 31, 2022, 2021 and 2020. Receivables from Affiliates Effective December 30, 2016, the Company executed a reserve financing transaction, whereby, for statutory reporting, the risk on $319 million of statutory basis redundant term life reserves was transferred to a third-party reinsurer. In conjunction with the transaction, Squire Re II financed the excess reserves through the Squire Surplus Note issued to an affiliate, Brier Capital LLC (“Brier”), in return for a note receivable from Brier (the “Financing Note”). Quarterly interest payments due under the Financing Note and the Squire Surplus Note are offset against each other and only the net amounts are due. The outstanding principal on the Financing Note and the Squire Surplus Note, each initially $344 million, are expected to increase or decrease in relation to changes in the excess reserves financed. The Financing Note, reported in Receivables from Affiliates, matures December 30, 2031 and bears interest at 4.0%. The outstanding balance of both the Financing Note and the Squire Surplus Note was $158 million and $177 million at December 31, 2022 and 2021, respectively.

Statutory Accounting and Regula

Statutory Accounting and Regulatory Matters	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Statutory Accounting and Regulatory Matters	Statutory Accounting and Regulatory MattersThe Company is required to prepare statutory financial statements in accordance with statutory accounting practices prescribed or permitted by the insurance department of the state of domicile. Statutory accounting practices primarily differ from U.S. GAAP by charging policy acquisition costs to expense as incurred and establishing future policy benefit liabilities using different actuarial assumptions, as well as valuing investments and certain assets and accounting for deferred income taxes on a different basis. At December 31, 2022 and 2021, the Company’s statutory capital and surplus was $6.0 billion and $6.1 billion, respectively. Statutory net income (loss) of the Company was $3,688 million, $136 million, and $(1,933) million, in 2022, 2021 and 2020, respectively. Under the Michigan Insurance Code of 1956, Jackson must notify the Michigan Director of Insurance prior to payment of any dividend. Ordinary dividends on capital stock may only be distributed out of earned surplus, excluding any unrealized capital gains and the effect of permitted practices (referred to as adjusted earned surplus). Ordinary dividends are also limited to the greater of 10% of statutory surplus as of the preceding year end, excluding any increase arising from the application of permitted practices, or the statutory net income, excluding any net realized investment gains, for the twelve-month period ended on the preceding December 31. The Michigan Director of Insurance may approve payment of dividends in excess of these amounts, which would be deemed an extraordinary dividend. The maximum amount that would qualify as an ordinary dividend, which would consequently be free from restriction and available for payment of dividends to Brooke Life in 2022, is estimated to be $3,688 million, subject to the availability of adjusted earned surplus as of the dividend date. At December 31, 2022, the Company had $943 million of adjusted earned surplus available for ordinary dividends. Ordinary dividends from the Company to its parent were nil in 2022, 2021, and 2020, respectively. On February 24, 2023, the Michigan Department of Insurance and Financial Services (“DIFS”) approved a $450 million ordinary dividend to the Company’s parent, Brooke Life. In addition to the dividend, DIFS approved a $150 million return of capital to Brooke. The distributions to Brooke Life were remitted on March 1, 2023. On March 1, 2022, the Company remitted a $600 million return of capital to Brooke. Under Michigan insurance law, Value of Business Acquired ("VOBA") is reported as an admitted asset if certain criteria are met. Pursuant to Michigan insurance law, the Company reported nil and $33 million of statutory basis VOBA, at December 31, 2022 and 2021, respectively, which was fully admissible. At December 31, 2022, Jackson's statutory basis VOBA was nil as the balance was fully amortized in 2022. The NAIC has developed certain risk-based capital (“RBC”) requirements for life insurance companies. Under those requirements, compliance is determined by a ratio of a company’s total adjusted capital (“TAC”), calculated in a manner prescribed by the NAIC to its authorized control level RBC, calculated in a manner prescribed by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, each of which requires specified corrective action. The minimum level of TAC before corrective action commences is twice the authorized control level RBC (“Company action level RBC”). At December 31, 2022, the Company's TAC remained well in excess of the Company action level RBC. In addition, on the basis of statutory financial statements that insurers file with the state insurance regulators, the NAIC annually calculates twelve financial ratios to assist state regulators in monitoring the financial condition of insurance companies. A usual range of results for each ratio is used as a benchmark and departure from the usual range on four or more of the ratios can lead to inquiries from individual state insurance departments. In 2022 and 2021, there were no significant exceptions with any ratios.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit PlansThe Company has a defined contribution retirement plan covering substantially all associates and certain affiliates. Effective January 1, 2020, associates are immediately eligible to participate in the Company’s matching contribution. To be eligible to participate in the Company’s profit-sharing contribution, an associate must have attained the age of 21, completed at least 1,000 hours of service in a 12-month period and passed their 12-month employment anniversary. In addition, the associate must be employed on the applicable January 1 or July 1 entry date. The Company’s annual profit-sharing contributions, as declared by Jackson’s Board of Directors, are based on a percentage of eligible compensation paid to participating associates during the year. In addition, the Company matches a participant’s elective contribution, up to 6 percent of eligible compensation, to the plan during the year. The Company’s expense related to this plan was $28 million, $28 million, and $30 million in 2022, 2021 and 2020, respectively.The Company maintains non-qualified voluntary deferred compensation plans for certain associates and independent agents. At December 31, 2022 and 2021, the total aggregate liability for such plans was $469 million and $564 million, respectively, and was reported in other liabilities. The Company’s expense (income) related to these plans, including a match of elective deferrals for the agents’ deferred compensation plan and the change in value of participant elective deferrals, was $(47) million, $54 million, and $56 million in 2022, 2021 and 2020, respectively.

Operating Costs and Other Expen

Operating Costs and Other Expenses	12 Months Ended
	Dec. 31, 2022
Operating Costs And Other Expenses [Abstract]
Operating Costs and Other Expenses	Operating Costs and Other Expenses The following table is a summary of the Company’s operating costs and other expenses (in millions): Years Ended December 31, 2022 2021 2020 Asset-based commission expenses $ 1,010 $ 1,126 $ 907 Other commission expenses 846 1,042 1,020 Deferral of acquisition costs (628) (796) (735) Sub-advisor expenses 337 400 336 General and administrative expenses 768 917 874 Athene ceding commission (1) — — (1,202) Total operating costs and other expenses $ 2,333 $ 2,689 $ 1,200 (1) See Note 8 of the Notes to Consolidated Financial Statements for further information.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income (Loss) Comprehensive income (loss) includes all changes in shareholder's equity (except those arising from transactions with owners/shareholders) and includes net income, net unrealized gains or losses on available-for-sale securities, the impact of changes in the non-performance risk used in the remeasurement of market risk benefits, and the impact of changes in the discount rate used in the remeasurement of our reserves for future policy benefits and claims payable. The following table represents changes in the balance of accumulated other comprehensive income (loss) ("AOCI"), net of income tax, related to unrealized investment gains (losses) (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Balance, beginning of period (1) $ 1,504 $ 3,960 $ 2,539 Change in accounting principle, net of tax — (391) — Other comprehensive income (loss): Change in unrealized gains (losses) of investments (8,253) (1,821) 2,589 Change in current discount rate - reserve for future policy benefits (2) 1,664 507 — Change in non-performance risk on market risk benefits 1,875 (424) — Change in unrealized gains (losses) - other 37 38 133 Change in deferred tax asset 111 370 (601) Other comprehensive income (loss) before reclassifications (4,566) (1,330) 2,121 Reclassifications from AOCI, net of tax (138) (735) (700) Other comprehensive income (loss) (4,704) (2,065) 1,421 Balance, end of period (1) $ (3,200) $ 1,504 $ 3,960 Includes $(2,106) million and $287 million related to the investments held within the funds withheld account related to the Athene Reinsurance Transaction as of December 31, 2022 and December 31, 2021, respectively. (1) Represents the impact of changes in the discount rate used in the remeasurement of our direct reserves for future policy benefits and claims payable, net of the remeasurement of ceded reserves for future policy benefits and claims payable. The following table represents amounts reclassified out of AOCI (in millions, recast for the adoption of LDTI for 2022 and 2021): AOCI Components Amounts Affected Line Item in the Years Ended December 31, 2022 2021 2020 Net unrealized investment gain (loss): Net realized gain (loss) on investments $ (175) $ (929) $ (1,142) Net gains (losses) on derivatives and investments Other impaired securities — (9) 10 Net gains (losses) on derivatives and investments Net unrealized gain (loss) (175) (938) (1,132) Amortization of deferred acquisition costs — — 246 Reclassifications, before income taxes (175) (938) (886) Income tax expense (benefit) (37) (203) (186) Reclassifications, net of income taxes $ (138) $ (735) $ (700)

Revision and Reclassifications

Revision and Reclassifications of Prior Period Financial Statements	12 Months Ended
	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Revision and Reclassifications of Prior Period Financial Statements	Revision and Reclassifications of Prior Period Financial Statements In 2022, the Company identified errors related to the classification of certain balances and amounts in line items of Consolidated Balance Sheets, Income Statements, and Statements of Cash Flows of its previously issued Consolidated Financial Statements. These errors consist of balances and amounts related to deferred sales inducement assets, liabilities for certain life-contingent annuities, sub-advisor fee expenses, and other operating expenses and do not impact previously reported net income, total equity, or net cash flows. Management evaluated these errors and the impact to previously issued financial statements based upon SEC Staff Accounting Bulletin No. 99, Materiality, which has since been codified in Accounting Standards Codification (“ASC”) 250, Accounting Changes and Error Corrections. Based on this evaluation, management has concluded that the adjustments and impact of these errors are not material to any previously issued quarterly or annual financial statements. However, to improve the consistency and comparability of the financial statements, management has revised previously reported financial statement line items and related disclosures in this report. In addition, certain other immaterial amounts in prior period financial statements have been reclassified to conform to the current period presentation. The following tables, recast for the adoption of LDTI for 2021, present Consolidated Balance Sheets and Income Statements line items affected by the revisions and reclassifications of previously reported financial statements adjusted for the adoption of LDTI, detailing amounts previously reported, the impact upon those line items due to revisions and reclassifications and amounts as currently revised within the financial statements. For the years ended December 31, 2021 and 2020 the reclassification also impacted the Consolidated Statements of Cash Flows in the amount of $61 million and $65 million, respectively, which increased financing cash flows offset by a decrease in operating cash flows. In addition, there were revisions reflected in our disclosures throughout these Consolidated Financial Statements. Consolidated Balance Sheets (in millions) As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised 12/31/21 12/31/21 12/31/21 12/31/21 Assets Deferred acquisition costs $ 14,246 $ (727) $ — $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) — 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 — 383 Market risk benefit assets, at fair value — 1,664 — 1,664 Deferred income taxes, net 909 762 — 1,671 Other assets 577 4 75 656 Total assets 372,045 1,794 75 373,914 Liabilities Reserves for future policy benefits and claims payable 17,617 (3,477) 1,037 15,177 Other contract holder funds 59,456 (5) (962) 58,489 Market risk benefit liabilities, at fair value — 8,033 — 8,033 Other liabilities 1,946 (1) — 1,945 Total liabilities 360,009 4,550 75 364,634 Equity Accumulated other comprehensive income, net of tax expense 1,890 (386) — 1,504 Retained earnings 4,168 (2,370) — 1,798 Total Equity 12,036 (2,756) — 9,280 Total liabilities and equity $ 372,045 $ 1,794 $ 75 $ 373,914 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/21 12/31/21 12/31/21 12/31/21 Revenues Fee income $ 7,594 $ — $ 400 $ 7,994 Premium 107 — 15 122 Net investment income 3,086 — 54 3,140 Total net gains (losses) on derivatives and investments (2,480) (2,887) — (5,367) Total revenues 8,400 (2,887) 469 5,982 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 892 (45) 57 904 (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 — 41 Market risk benefits (gains) losses, net — (3,966) — (3,966) Interest credited on other contract holder funds, net of deferrals and amortization 861 (2) (34) 825 Operating costs and other expenses, net of deferrals 2,242 — 447 2,689 Amortization of deferred acquisition costs 520 786 (1) 1,305 Total benefits and expenses 4,537 (3,186) 469 1,820 Pretax income (loss) 3,863 299 $ — 4,162 Income tax (benefit) expense 616 64 — 680 Net income (loss) $ 3,247 $ 235 $ — $ 3,482 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/20 12/31/20 12/31/20 12/31/20 Revenues Fee income $ 6,504 $ — $ 336 $ 6,840 Premium 130 — 27 157 Net investment income 2,781 — 55 2,836 Total revenues 3,025 — 418 3,443 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 1,235 — 78 1,313 Interest credited on other contract holder funds, net of deferrals and amortization 1,202 — 91 1,293 Operating costs and other expenses, net of deferrals 807 — 393 1,200 Amortization of deferred acquisition costs (390) — (144) (534) Total benefits and expenses 5,418 — 418 5,836 Net income (loss) $ (1,552) $ — $ — $ (1,552)

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) Effective January 1, 2023, the Company adopted LDTI using the modified retrospective transition method relating to liabilities for traditional and limited payment contracts and deferred policy acquisition costs associated therewith; and on a retrospective basis, in relation to market risk benefits ("MRBs"). See Note 2 of the Notes to Consolidated Financial Statements for further description of the adoption of this new accounting principle. The following table contains quarterly financial information recast for the years ended December 31, 2022 and 2021 (in millions): Three Months Ended March 31, June 30, September 30, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 Revenues Fee income $ 1,997 $ 1,890 $ 1,920 $ 1,976 $ 1,893 $ 2,047 $ 1,861 $ 2,081 Premiums 31 31 26 31 30 30 22 30 Net investment income: Net investment income excluding funds withheld assets 398 537 355 450 335 472 378 493 Net investment income on funds withheld assets 260 291 364 294 313 299 317 304 Total net investment income 658 828 719 744 648 771 695 797 Net gains (losses) on derivatives and investments: Net gains (losses) on derivatives and investments (1,566) (2,839) 2,940 (388) (194) (421) (4,198) (1,698) Net gains (losses) on funds withheld reinsurance treaties 1,028 898 1,077 (768) 555 (115) (474) (36) Total net gains (losses) on derivatives and investments (538) (1,941) 4,017 (1,156) 361 (536) (4,672) (1,734) Other income 20 23 20 31 19 17 25 22 Total revenues 2,168 831 6,702 1,626 2,951 2,329 (2,069) 1,196 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 288 255 261 214 240 280 246 155 (Gain) loss from updating future policy benefits cash flow assumptions, net 15 48 14 6 (39) (15) (26) 2 Market risk benefits (gains) losses, net (1,907) (6,522) 1,184 1,512 (913) 1,066 (1,900) (22) Interest credited on other contract holder funds, net of deferrals and amortization 195 212 206 207 223 205 235 201 Interest expense 5 6 6 7 8 4 18 5 Operating costs and other expenses, net of deferrals 631 631 532 655 568 666 602 737 Amortization of deferred acquisition costs 316 331 308 328 304 327 297 319 Total benefits and expenses (457) (5,039) 2,511 2,929 391 2,533 (528) 1,397 Pretax income (loss) 2,625 5,870 4,191 (1,303) 2,560 (204) (1,541) (201) Income tax expense (benefit) 395 1,118 854 (246) 661 (98) (380) (94) Net income (loss) 2,230 4,752 3,337 (1,057) 1,899 (106) (1,161) (107)

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events (Unaudited) The Company has evaluated subsequent events through the date these recast Consolidated Financial Statements were issued. In early March through late April, several regional U.S. banks were taken over by federal regulators with the Federal Deposit Insurance Corporation ("FDIC") being named the receiver. These bank failures raised concern among investors and depositors regarding the solvency and liquidity of regional banks across the country, leading to increased stress on the banking sector. In response, the FDIC invoked a systemic risk exception allowing the government to ensure repayment of all amounts on deposit at the failed banks. We continue to monitor and analyze the ongoing situation in the banking sector. Except for assets held as part of reinsurance arrangements within our funds withheld portfolios, where the Company does not have exposure to default risk, the Company's general account portfolio had no exposure to Silicon Valley Bank ("SVB"), Signature Bank, First Republic Bank, and Credit Suisse Additional Tier 1 debt as of March 31, 2023.

Schedule I

Schedule I	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
Schedule I	Schedule I Jackson National Life Insurance Company and Subsidiaries Summary of Investments—Other Than Investments in Related Parties (In millions) As of December 31, 2022 Amount at Which Shown Cost or on Balance Type of Investment Amortized Cost Fair Value Sheet Debt securities: Bonds: U.S. government securities $ 5,731 $ 4,724 $ 4,724 Other government securities 1,719 1,468 1,468 Public utilities 5,833 5,167 5,167 Corporate securities 26,532 22,905 22,905 Residential mortgage-backed 498 452 452 Commercial mortgage-backed 1,813 1,631 1,631 Other asset-backed securities 6,231 5,725 5,725 Total debt securities 48,357 42,072 42,072 Equity securities 359 359 359 Mortgage loans 11,549 N/A 11,549 Policy loans 4,376 N/A 4,376 Derivative instruments 1,270 N/A 1,270 Other invested assets 2,174 N/A 2,817 Total investments $ 68,085 $ 62,443

Schedule III

Schedule III	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Schedule III	Schedule III Jackson National Life Insurance Company and Subsidiaries Supplemental Insurance Information (In millions) Reserves for Deferred Future Policy Acquisition Benefits and Other Contract Costs Claims Payable Holder Funds December 31, 2022 (1) Retail Annuities $ 12,725 $ 1,406 $ 36,231 Closed Life and Annuity Blocks 119 10,894 12,730 Institutional Products — — 9,019 Corporate and Other 74 — — Total $ 12,918 $ 12,300 $ 57,980 December 31, 2021 (1) Retail Annuities $ 13,365 $ 1,706 $ 36,501 Closed Life and Annuity Blocks 130 13,471 13,158 Institutional Products — — 8,830 Corporate and Other 24 — — Total $ 13,519 $ 15,177 $ 58,489 December 31, 2020 Retail Annuities $ 13,739 $ 9,075 $ 38,720 Closed Life and Annuity Blocks 134 13,417 13,491 Institutional Products — — 11,138 Corporate and Other 24 — — Total $ 13,897 $ 22,492 $ 63,349 (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . Schedule III Jackson National Life Insurance Company and Subsidiaries Supplemental Insurance Information (In millions) Interest Credited Deferred on Other Acquisition and Operating Net Investment Contract Holder Sales Inducements Costs and Premium Income Funds Amortization Other Expenses December 31, 2022 (1) Retail Annuities $ 10 $ 394 $ 246 $ 557 $ 2,174 Closed Life and Annuity Blocks 111 706 412 11 129 Institutional Products — 312 201 — 5 Corporate and Other — 55 — — 25 Segment subtotal 121 1,467 859 568 2,333 Non-operating items (2) (12) 1,253 — 657 — Total $ 109 $ 2,720 $ 859 $ 1,225 $ 2,333 December 31, 2021 (1) Retail Annuities $ 15 $ 686 $ 218 $ 556 $ 2,455 Closed Life and Annuity Blocks 119 950 419 12 181 Institutional Products — 260 188 — 5 Corporate and Other — 56 — — 48 Segment subtotal 134 1,952 825 568 2,689 Non-operating items (2) (12) 1,188 — 737 — Total $ 122 $ 3,140 $ 825 $ 1,305 $ 2,689 December 31, 2020 Retail Annuities $ 27 $ 947 $ 469 $ 55 $ 2,172 Closed Life and Annuity Blocks 143 776 436 17 190 Institutional Products — 355 250 — 5 Corporate and Other — (34) — 20 36 Segment subtotal 170 2,044 1,155 92 2,403 Non-operating items (1) (13) 792 138 (626) (1,203) Total $ 157 $ 2,836 $ 1,293 $ (534) $ 1,200 (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (2) See Note 3. Segment Information for further details on the non-operating items.

Schedule IV

Schedule IV	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Schedule IV	Schedule IV Jackson National Life Insurance Company and Subsidiaries Reinsurance For the Years Ended December 31, 2022, 2021, and 2020 (In millions) % Amount Assumed to Gross Amount Ceded Assumed Net Amount Net December 31, 2022 Life insurance in-force $ 86,792 $ 55,496 $ 15,976 $ 47,272 33.8 % Insurance premium Life insurance $ 325 $ 251 $ 37 $ 111 33.3 % Accident and health 25 28 3 — Payout annuity 10 — — 10 Annuity guaranteed benefits — 12 — (12) Total insurance premium $ 360 $ 291 $ 40 $ 109 36.7 % December 31, 2021 Life insurance in-force $ 105,704 $ 72,034 $ 16,358 $ 50,028 32.7 % Insurance premium Life insurance $ 354 $ 273 $ 38 $ 119 31.9 % Accident and health 38 42 4 — Payout annuity 15 — — 15 Annuity guaranteed benefits — 12 — (12) Total insurance premium $ 407 $ 327 $ 42 $ 122 34.4 % December 31, 2020 Life insurance in-force $ 118,328 $ 81,858 $ 17,034 $ 53,504 31.8 % Insurance premium Life insurance $ 273 $ 172 $ 42 $ 143 29.6 % Accident and health 36 41 5 — Payout annuity 27 — — 27 Annuity guaranteed benefits — 13 — (13) Total insurance premium $ 336 $ 226 $ 47 $ 157 29.9 %

Schedule V

Schedule V	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule V	Schedule V Jackson National Life Insurance Company and Subsidiaries Valuation and Qualifying Accounts For the Years Ended December 31, 2022 and 2021 (In millions) Balance at Charged to Beginning Costs and Balance at of Period Expenses Deductions End of Period December 31, 2022 Allowance for credit losses on debt securities $ 9 $ 36 $ (22) (1) $ 23 Allowances for credit losses on mortgage and other loans 94 — 1 (2) 95 Allowance for credit losses on reinsurance recoverable 12 3 — 15 Valuation allowance on deferred tax asset — 900 (3) — 900 $ 115 $ 939 $ (21) $ 1,033 December 31, 2021 Allowance for credit losses on debt securities $ 14 $ 11 $ (16) (1) $ 9 Allowances for credit losses on mortgage and other loans 179 — (85) (2) 94 Allowance for credit losses on reinsurance recoverable 13 — (1) 12 Valuation allowance on deferred tax asset — — — — $ 206 $ 11 $ (102) $ 115 (1) Represents reductions for securities disposed. (2) Represents provision (release) of allowance for write-offs.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Intercompany accounts and transactions have been eliminated upon consolidation. The Company adopted Accounting Standards Update (“ASU”) 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts,” (“LDTI”) effective January 1, 2023, with a transition date of January 1, 2021. The accompanying Consolidated Financial Statements have been recast as compared to the consolidated financial statements previously filed with the Company's registration statement on Form S-1 (registration nos. 333-268090, 333-249750, 333-249766, and 333-268101) filed with the SEC on April 17, 2023, to reflect the adoption of LDTI, which includes changes to the existing recognition, measurement, presentation and disclosure requirements for long-duration contracts issued by an insurance entity as of the transition date of January 1, 2021. Our financial statements for the year ended December 31, 2020 are still presented on the basis of accounting effective prior to the adoption of LDTI. See Note 2 of the Notes to Consolidated Financial Statements for further description of the adoption of this change in accounting principle.
Use of Estimates	Use of Estimates The preparation of the Consolidated Financial Statements in conformity with U.S. GAAP requires the use of estimates and assumptions about future events that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Significant estimates or assumptions, as further discussed in the notes, include: • Valuation of investments and derivative instruments, including fair values of securities deemed to be in an illiquid market and the determination of when an impairment is necessary; • Assessments as to whether certain entities are variable interest entities, the existence of reconsideration events and the determination of which party, if any, should consolidate the entity; • Assumptions used in calculating policy reserves and liabilities and deferred acquisition costs including policyholder behavior, mortality rates, expenses, investment returns and policy crediting rates; • Assumptions as to future earnings levels being sufficient to realize deferred tax benefits; • Estimates related to expectations of credit losses on certain financial assets and off-balance sheet exposures; • Assumptions and estimates associated with the Company’s tax positions, including an estimate of the dividends received deduction, which impact the amount of recognized tax benefits recorded by the Company; • Assumptions used in calculating the value of guaranteed benefits, including those classified as market risk benefits subsequent to the adoption of LDTI, including policyholder behavior, mortality rates, and capital market assumptions; • Subsequent to the adoption of LDTI, assumptions impacting the expected term used in the calculation of amortization of deferred acquisition costs, including policyholder behavior and mortality rates; and • Prior to the adoption of LDTI, assumptions impacting estimated future gross profits used in the calculation of amortization of deferred acquisition costs, including policyholder behavior, mortality rates, expenses, projected hedging costs, investment returns and policy crediting rates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents primarily include money market instruments and bank deposits. Cash equivalents also includes all highly liquid securities and other investments purchased with an original or remaining maturity of three months or less at the date of purchase.
Revenue and Expense Recognition	Revenue and Expense Recognition Premiums for traditional life insurance are reported as revenues when due. Benefits, claims and expenses are associated with earned revenues in order to recognize profit over the lives of the contracts. This association is accomplished through provisions for future policy benefits and the deferral and amortization of certain acquisition costs. Deposits on interest-sensitive life products and investment contracts, principally deferred annuities and guaranteed investment contracts, are treated as policyholder deposits and excluded from revenue. Revenues consist primarily of investment income and charges assessed against the account value for mortality charges, surrenders, variable annuity benefit guarantees and administrative expenses. Fee income also includes revenues related to asset management fees and certain service fees. Surrender benefits are treated as repayments of the policyholder account. Annuity benefit payments are treated as reductions to the policyholder account. Death benefits in excess of the policyholder account are recognized as an expense when incurred. Expenses consist primarily of the interest credited to policyholder deposits. Acquisition expenses directly related to the successful acquisition of these contracts are deferred. Prior to the adoption of LDTI, these deferred acquisition expenses were amortized based on the recognition of gross profits over the life of the business. Subsequent to the adoption of LDTI, these deferred acquisition costs are amortized on a constant-level basis over the expected term of the contracts. Expenses not related to policy acquisition are recognized when incurred. Accounting Policies Prior to the Adoption of LDTI - Reserves for Future Policy Benefits and Claims Payable and Other Contract Holder Funds For traditional life insurance contracts, which include term and whole life, reserves for future policy benefits are determined using the net level premium method and assumptions as of the issue date or acquisition date as to mortality, interest, lapse and expenses, plus provisions for adverse deviations. These assumptions are not unlocked unless the reserve is determined to be deficient. Interest rate assumptions range from 2.5% to 6.0%. Lapse, mortality, and expense assumptions for recoverability are based primarily on Company experience. The Company’s liability for future policy benefits also includes net liabilities for guaranteed benefits related to certain nontraditional long-duration life and annuity contract. Group payout annuities consist of a closed block of defined benefit annuity plans. The liability for future benefits for these limited payment contracts is calculated using assumptions as of the acquisition date as to mortality and expense plus provisions for adverse deviation. In conjunction with a prior acquisition, the Company recorded a fair value adjustment at acquisition related to certain annuity and interest sensitive liability blocks of business to reflect the cost of the interest guarantees within the in-force liabilities, based on the difference between the guaranteed interest rate and an assumed new money guaranteed interest rate at acquisition. This adjustment was recorded in reserves for future policy benefits and claims payable. This reserve is reassessed at the end of each period, taking into account changes in the in-force block. Any resulting change in the reserve is recorded as a change in policy reserve through the Consolidated Income Statements. For interest-sensitive life contracts, liabilities approximate the policyholder’s account value, plus the remaining balance of the fair value adjustment related to previously acquired business. The liability for fixed index annuities and registered index linked annuities is based on three components: 1) the imputed value of the underlying guaranteed host contract, 2) the fair value of the embedded option component of the contract, and 3) the liability for guaranteed benefits related to the optional lifetime income rider. For fixed annuities, variable annuity fixed option, and other investment contracts, the liability is the account value plus the unamortized balance of the fair value adjustment related to previously acquired business. For payout annuities, reserves are determined under the methodology for limited-payment contracts (for those with significant life contingencies) or using a constant yield method and assumptions as of the issue date for mortality, interest rates, lapse and expenses plus provisions for adverse deviations. Accounting Policies Prior to the Adoption of LDTI - Certain Non-traditional Long-Duration Contracts and Variable Annuity Guarantees Variable Annuity Guarantees Variable annuity contracts issued by the Company offer various guaranteed minimum death, withdrawal, income and accumulation benefits. Certain benefits, including non-life contingent components of guaranteed minimum withdrawal benefits (“GMWB”) and guaranteed minimum withdrawal benefits for life (“GMWB for Life”), guaranteed minimum accumulation benefits (“GMAB”) and the reinsurance recoverable on the Company’s guaranteed minimum income benefits (“GMIB”), are recorded at fair value. Guaranteed benefits that are not subject to fair value accounting are accounted for as insurance benefits. Variable annuity embedded derivatives are carried at fair value on the Company’s balance sheet as a component of reserves for future policy benefits and claims payable. The Company discontinued offering the GMIB in 2009 and GMAB in 2011. The non-life contingent component of GMWB and GMWB for Life contracts consists of those guaranteed withdrawal amounts paid to the contract holder in excess of the account value of the contract, up to the amount of the living benefit base. Withdrawal amounts paid to the contract holder in excess of the living benefit base are considered life contingent and are accounted for as insurance benefits. GMABs and non-life contingent components of GMWB and GMWB for Life contracts are recorded at fair value with changes in fair value recorded in net gains (losses) on derivatives and investments. The fair value of the reserve is based on the expectations of future benefit payments and certain future fees associated with the benefits. At the inception of the contract, the Company attributes to the embedded derivative a portion of rider fees collected from the contract holder, which is then held static in future valuations. Those fees, generally referred to as the attributed fees, are set such that the present value of the attributed fees is equal to the present value of future claims expected to be paid under the guaranteed benefit at the inception of the contract. In subsequent valuations, both the present value of future benefits and the present value of attributed fees are revalued based on current market conditions and policyholder behavior assumptions. The difference between each of the two components represents the fair value of the embedded derivative. Thus, when unfavorable equity market movements cause declines in the contract holder’s account value relative to the guarantee benefit, the valuation of future expected claims would generally increase relative to the measurement performed at the inception of the contract, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). Fair values for GMWB, GMWB for Life, and GMAB embedded derivatives, as well as GMIB reinsurance recoverables, are calculated using internally developed models because active, observable markets do not exist for those guaranteed benefits. The fair value calculation is based on the present value of future cash flows comprised of future expected benefit payments, less future attributed rider fees, over the lives of the contracts. Estimating these cash flows requires numerous estimates and subjective judgments related to capital market inputs, as well as actuarially determined assumptions related to expectations regarding policyholder behavior. Capital market inputs include expected market rates of return, market volatility, correlations of market index returns to funds, fund performance and discount rates. The more significant actuarial assumptions include benefit utilization by policyholders, lapse, mortality, and withdrawal rates. Best estimate assumptions plus risk margins are used as applicable. At each valuation date, the fair value calculation reflects expected returns based on constant maturity treasury rates as of that date to determine the value of expected future cash flows produced in a stochastic process. Volatility assumptions are based on available market data for implied market volatility for durations up to 10 years, grading to a historical volatility level by year 15, where such long-term historical volatility levels contain an explicit risk margin. Risk margins are also incorporated into the model assumptions, particularly for policyholder behavior. Estimates of future policyholder behavior are subjective and are based primarily on the Company’s experience. The fair value of a liability reflects the effect of non-performance risk. Non-performance risk includes, but may not be limited to, a reporting entity’s own credit risk. Non-performance risk is incorporated into the calculation through the adjustment of the risk-free rate curve based on spreads indicated by a blend of yields on similarly-rated peer debt and yields on Jackson Financial debt (adjusted to operating company levels). As markets change, mature and evolve and actual policyholder behavior emerges, management periodically evaluates the appropriateness of its assumptions for this component of the fair value model. The use of the models and assumptions described above requires a significant amount of judgment. Management believes the aggregation of each of these components results in an amount that the Company would be required to transfer for a liability, or receive for an asset, to or from a willing buyer or seller, if one existed, for those market participants to assume the risks associated with the guaranteed benefits and the related reinsurance. However, the ultimate settlement amount of the asset or liability, which is currently unknown, could be significantly different than this fair value. The Company issues variable contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contract holder (“traditional variable annuities”). The Company also issues variable annuity and life contracts through separate accounts where the Company contractually guarantees to the contract holder (“variable contracts with guarantees”) either a) return of no less than total deposits made to the account adjusted for any partial withdrawals, b) total deposits made to the account adjusted for any partial withdrawals plus a minimum return, or c) the highest account value on a specified anniversary date adjusted for any withdrawals following the contract anniversary. These guarantees include benefits that are payable in the event of death (guaranteed minimum death benefits, or "GMDB"), at annuitization (GMIB), upon the depletion of funds (GMWB) or at the end of a specified period (GMAB). The assets supporting the variable portion of both traditional variable annuities and variable contracts with guarantees are carried at fair value and reported as summary total separate account assets with an equivalent summary total reported for separate account liabilities. Liabilities for guaranteed benefits, including net embedded derivatives, are general account obligations and are reported in reserves for future policy benefits and claims payable. Amounts assessed against the contract holders for mortality, administrative, and other services are reported in revenue as fee income. Changes in liabilities for minimum guarantees are reported within death, other policy benefits and change in policy reserves within the Consolidated Income Statements with the exception of changes in embedded derivatives, which are included in net gains (losses) on derivatives and investments. Separate account net investment income, net investment realized and unrealized gains and losses, and the related liability changes are offset within the same line item in the Consolidated Income Statements. Fixed Index Annuities The equity-linked option associated with fixed index annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the underlying guaranteed account value growth. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets. In addition, longevity riders may be issued on fixed index annuities. The benefits for these riders are accounted for as insurance benefits similarly to the life-contingent variable annuity guaranteed benefits described above and are a component of reserves for future policy benefits and claims payable on the Company’s Consolidated Balance Sheets. RILA The equity-linked option associated with registered index linked annuities issued by the Company is accounted for at fair value as an embedded derivative on the Company’s Consolidated Balance Sheets as a component of other contract holder funds, with changes in fair value recorded in net income. The fair value is determined using an option-budget method with capital market inputs of market index returns and discount rates as well as actuarial assumptions including lapse, mortality and withdrawal rates. Thus, favorable equity market movements cause increases in future contract holder benefits, resulting in an increase in the fair value of the embedded derivative liability (and vice versa). The Company also establishes a host contract reserve to support the associated account value growth and policyholder benefits. This host reserve is a component of other contract holder funds on the Company’s Consolidated Balance Sheets.
Changes in Accounting Principles - Issued but Not Yet Adopted	Changes in Accounting Principles – Issued but Not Yet AdoptedIn March 2022, the FASB issued ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” The new guidance eliminates the accounting guidance for troubled debt restructurings by creditors, and instead requires an entity to evaluate whether a modification represents a new loan or a continuation of an existing loan. The amendments also enhance disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. New guidance for vintage disclosures requires that current-period gross write-offs be disclosed by year of origination for financing receivables and net investments in leases that fall within scope of the current expected credit loss model. The amendments in this update are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Updates should be applied prospectively. However, an entity has the option to apply the modified retrospective method related to the recognition and measurements of troubled debt restructurings. The Company will adopt the standard effective January 1, 2023, and does not anticipate a material impact to the Consolidated Financial Statements upon adoption.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Location of Significant Accounting Policies	The following table identifies our significant accounting policies presented in other Notes to Consolidated Financial Statements: Investments* Note 4 Derivatives and Hedge Accounting* Note 5 Fair Value Measurements (Post-Adoption of LDTI Accounting Policies specifically for MRBs) Note 6 Deferred Acquisition Costs (Includes Pre-Adoption and Post-Adoption of LDTI Accounting Policies) Note 7 Reinsurance* Note 8 Reserves for Future Policy Benefits and Claims Payable (Post-Adoption of LDTI Accounting Policies) Note 9 Other Contract Holder Funds (Post-Adoption of LDTI Accounting Policies) Note 10 Separate Account Assets and Liabilities* Note 11 Market Risk Benefits (Post-Adoption of LDTI Accounting Policies) Note 12 Long-Term Debt* Note 13 Income Taxes* Note 15 Commitments, Contingencies, and Guarantees* Note 16 Share-Based Compensation* Note 18 Accumulated Other Comprehensive Income (Loss)* Note 23 *No impact to the significant accounting policies presented in these Notes related to the adoption of LDTI.
Accounting Standards Update and Change in Accounting Principle, Effect Of Transition On Equity	The following table presents the effect of transition adjustments on shareholder's equity due to the adoption of LDTI (in millions): January 1, 2021 Accumulated other Retained earnings comprehensive income Deferred acquisition costs $ — $ 102 Reinsurance recoverable on market risk benefits — (35) Reserves for future policy benefits and claims payable 97 143 Market risk benefits (2,701) (601) Total $ (2,604) $ (391)
Schedule of Error Corrections and Prior Period Adjustments	The following table presents amounts previously reported as of December 31, 2020, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of January 1, 2021 (in millions). As Previously Effect of As of Reported Changes 1/1/2021 Assets Deferred acquisition costs $ 13,896 $ 140 $ 14,036 Reinsurance recoverable, net of allowance for credit losses 35,311 (155) 35,156 Reinsurance recoverable on market risk benefits, at fair value — 472 472 Market risk benefit assets, at fair value — 690 690 Deferred income taxes, net 1,036 824 1,860 Other assets 861 1 862 Total assets $ 351,538 $ 1,972 $ 353,510 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 22,490 $ (5,716) $ 16,774 Other contract holder funds 63,349 (7) 63,342 Market risk benefit liabilities, at fair value — 10,690 10,690 Total liabilities 342,051 4,967 347,018 Equity Accumulated other comprehensive income, net of tax expense 3,960 (391) 3,569 Retained earnings 921 (2,604) (1,683) Total shareholder's equity 9,487 (2,995) 6,492 Total liabilities and equity $ 351,538 $ 1,972 $ 353,510 The following tables present amounts previously reported in the Consolidated Balance Sheets as of December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of December 31, 2022 and 2021 (in millions). As Previously Reported Effect of As of December 31, 2022 Changes December 31, 2022 Assets Deferred acquisition costs $ 13,407 $ (489) $ 12,918 Reinsurance recoverable, net of allowance for credit losses 29,670 (594) 29,076 Reinsurance recoverable on market risk benefits, at fair value — 221 221 Market risk benefit assets, at fair value — 4,865 4,865 Deferred income taxes, net 315 (67) 248 Other assets 734 (3) 731 Total assets $ 307,089 $ 3,933 $ 311,022 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 14,255 $ (1,955) $ 12,300 Other contract holder funds 57,986 (6) 57,980 Market risk benefit liabilities, at fair value — 5,662 5,662 Other liabilities 1,668 (1) 1,667 Total liabilities 297,041 3,700 300,741 Equity Accumulated other comprehensive income (loss), net of tax (5,311) 2,111 (3,200) Retained earnings 9,981 (1,878) 8,103 Total shareholder's equity 10,048 233 10,281 Total liabilities and equity $ 307,089 $ 3,933 $ 311,022 As Previously Reported Effect of As of December 31, 2021 Changes December 31, 2021 Assets Investments: Deferred acquisition costs $ 14,246 $ (727) $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 383 Market risk benefit assets, at fair value — 1,664 1,664 Deferred income taxes, net 909 762 1,671 Other assets 652 4 656 Total assets $ 372,120 $ 1,794 $ 373,914 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 18,654 $ (3,477) $ 15,177 Other contract holder funds 58,494 (5) 58,489 Market risk benefit liabilities, at fair value — 8,033 8,033 Other liabilities 1,946 (1) 1,945 Total liabilities 360,084 4,550 364,634 Equity Accumulated other comprehensive income (loss), net of tax 1,890 (386) 1,504 Retained earnings 4,168 (2,370) 1,798 Total shareholder's equity 12,036 (2,756) 9,280 Total liabilities and equity $ 372,120 $ 1,794 $ 373,914 The following tables present amounts previously reported in the Consolidated Income Statements for the years ended December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts for the years ended December 31, 2022 and 2021 (in millions). As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Revenues Total net gains (losses) on derivatives and investments $ 3,856 $ (4,688) $ (832) Total revenues 14,440 (4,688) 9,752 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 2,263 (1,228) 1,035 (Gain) loss from updating future policy benefits cash flow assumptions, net — (36) (36) Market risk benefits (gains) losses, net — (3,536) (3,536) Interest credited on other contract holder funds, net of deferrals and amortization 855 4 859 Amortization of deferred acquisition costs 1,743 (518) 1,225 Total benefits and expenses 7,231 (5,314) 1,917 Pretax income (loss) 7,209 626 7,835 Income tax expense (benefit) 1,396 134 1,530 Net income (loss) 5,813 492 6,305 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Revenues Total net gains (losses) on derivatives and investments $ (2,480) $ (2,887) $ (5,367) Total revenues 8,869 (2,887) 5,982 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 949 (45) 904 (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 41 Market risk benefits (gains) losses, net — (3,966) (3,966) Interest credited on other contract holder funds, net of deferrals and amortization 827 (2) 825 Amortization of deferred acquisition costs 519 786 1,305 Total benefits and expenses 5,006 (3,186) 1,820 Pretax income (loss) 3,863 299 4,162 Income tax expense (benefit) 616 64 680 Net income (loss) 3,247 235 3,482 The following tables present amounts previously reported in Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts for the years ended December 31, 2022 and 2021 (in millions). As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Net income (loss) $ 5,813 $ 492 $ 6,305 Other comprehensive income (loss), net of tax: Change in unrealized gains (losses) on securities with no credit impairment net of tax (7,199) (274) (7,473) Change in current discount rate related to reserve for future policy benefits, net of tax — 1,303 1,303 Change in non-performance risk on market risk benefits, net of tax — 1,468 1,468 Total other comprehensive income (loss) (7,201) 2,497 (4,704) Comprehensive income (loss) $ (1,388) $ 2,989 $ 1,601 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Net income (loss) $ 3,247 $ 235 $ 3,482 Other comprehensive income (loss), net of tax: Change in unrealized gains (losses) on securities with no credit impairment net of tax (2,073) (60) (2,133) Change in current discount rate related to reserve for future policy benefits, net of tax — 397 397 Change in non-performance risk on market risk benefits, net of tax — (332) (332) Total other comprehensive income (loss) (2,070) 5 (2,065) Comprehensive income (loss) $ 1,177 $ 240 $ 1,417 The adoption of the standard did not affect the previously reported totals for net cash flows provided by (used in) operating, investing, or financing activities, but did affect the following components of net cash flows provided by (used in) operating activities. As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Cash flows from operating activities: Net income $ 5,813 $ 492 $ 6,305 Adjustments to reconcile net income to net cash provided by operating activities: Net losses (gains) on derivatives (2,025) 4,688 2,663 Net (gain) loss on market risk benefits — (3,536) (3,536) (Gain) loss from updating future policy benefits cash flow assumptions, net — (36) (36) Interest credited on other contract holder funds, gross 855 4 859 Deferred income tax expense (benefit) 1,438 134 1,572 Change in deferred acquisition costs 1,119 (518) 601 Change in funds withheld, net of reinsurance (402) 329 (73) Change in other assets and liabilities, net 84 (1,557) (1,473) Total adjustments 1,069 (492) 577 Net cash provided by (used in) operating activities $ 4,647 $ — $ 4,647 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Cash flows from operating activities: Net income $ 3,247 $ 235 $ 3,482 Adjustments to reconcile net income to net cash provided by operating activities: Net losses (gains) on derivatives 2,640 2,887 5,527 Net (gain) loss on market risk benefits — (3,966) (3,966) (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 41 Interest credited on other contract holder funds, gross 827 (2) 825 Deferred income tax expense (benefit) 697 64 761 Change in deferred acquisition costs (270) 787 517 Change in funds withheld, net of reinsurance (757) 131 (626) Change in other assets and liabilities, net (993) (177) (1,170) Total adjustments 2,144 (235) 1,909 Net cash provided by (used in) operating activities $ 4,888 $ — $ 4,888 Consolidated Balance Sheets (in millions) As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised 12/31/21 12/31/21 12/31/21 12/31/21 Assets Deferred acquisition costs $ 14,246 $ (727) $ — $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) — 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 — 383 Market risk benefit assets, at fair value — 1,664 — 1,664 Deferred income taxes, net 909 762 — 1,671 Other assets 577 4 75 656 Total assets 372,045 1,794 75 373,914 Liabilities Reserves for future policy benefits and claims payable 17,617 (3,477) 1,037 15,177 Other contract holder funds 59,456 (5) (962) 58,489 Market risk benefit liabilities, at fair value — 8,033 — 8,033 Other liabilities 1,946 (1) — 1,945 Total liabilities 360,009 4,550 75 364,634 Equity Accumulated other comprehensive income, net of tax expense 1,890 (386) — 1,504 Retained earnings 4,168 (2,370) — 1,798 Total Equity 12,036 (2,756) — 9,280 Total liabilities and equity $ 372,045 $ 1,794 $ 75 $ 373,914 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/21 12/31/21 12/31/21 12/31/21 Revenues Fee income $ 7,594 $ — $ 400 $ 7,994 Premium 107 — 15 122 Net investment income 3,086 — 54 3,140 Total net gains (losses) on derivatives and investments (2,480) (2,887) — (5,367) Total revenues 8,400 (2,887) 469 5,982 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 892 (45) 57 904 (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 — 41 Market risk benefits (gains) losses, net — (3,966) — (3,966) Interest credited on other contract holder funds, net of deferrals and amortization 861 (2) (34) 825 Operating costs and other expenses, net of deferrals 2,242 — 447 2,689 Amortization of deferred acquisition costs 520 786 (1) 1,305 Total benefits and expenses 4,537 (3,186) 469 1,820 Pretax income (loss) 3,863 299 $ — 4,162 Income tax (benefit) expense 616 64 — 680 Net income (loss) $ 3,247 $ 235 $ — $ 3,482 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/20 12/31/20 12/31/20 12/31/20 Revenues Fee income $ 6,504 $ — $ 336 $ 6,840 Premium 130 — 27 157 Net investment income 2,781 — 55 2,836 Total revenues 3,025 — 418 3,443 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 1,235 — 78 1,313 Interest credited on other contract holder funds, net of deferrals and amortization 1,202 — 91 1,293 Operating costs and other expenses, net of deferrals 807 — 393 1,200 Amortization of deferred acquisition costs (390) — (144) (534) Total benefits and expenses 5,418 — 418 5,836 Net income (loss) $ (1,552) $ — $ — $ (1,552)
Balances of and changes in liability for future policy benefits, and Revenue and interest recognized	The following table presents the impact of the adoption of LDTI, as of the transition date, on reserves for future policy benefits and claims payable (in millions): Payout Closed Closed Annuities Block Life Block Annuity Total Reserves for future policy benefits at December 31, 2020 $ 1,143 $ 5,809 $ 5,328 $ 12,280 Adjustment for loss contracts under the modified retrospective approach 4 15 18 37 Effect of remeasurement of liability at current discount rates 143 560 997 1,700 Reserves for future policy benefits at January 1, 2021 $ 1,290 $ 6,384 $ 6,343 $ 14,017 Other future policy benefits and claims payable 2,757 Reserves for future policy benefits and claims payable at January 1, 2021 $ 16,774 The following table presents the transition date reclassifications and adjustments to reserves for future policy benefits by category resulting from the adoption of LDTI (in millions): Reserve for future policy benefits Other (1) Total Reserve for future policy benefits and claims payable at December 31, 2020 $ 12,280 $ 10,210 $ 22,490 Adjustments for LDTI transition 1,737 (7,453) (5,716) Reserve for future policy benefits and claims payable at January 1, 2021 $ 14,017 $ 2,757 $ 16,774 (1) Includes variable annuity embedded derivatives that were reclassed to market risk benefits. The following tables present the roll-forward of components of reserves for future policy benefits (in millions): Present Value of Expected Net Premiums Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ — $ 1,464 $ — $ — $ 1,440 $ — Beginning of period cumulative effect of changes in discount rate assumptions — (157) — — (191) — Beginning balance at original discount rate — 1,307 — — 1,249 — Effect of changes in cash flow assumptions — 242 — — — — Effect of actual variances from expected experience — 1 — — 146 — Balance adjusted for variances from expectation — 1,550 — — 1,395 — Issuances — 6 — — 4 — Interest accrual — 39 — — 48 — Net premiums collected — (147) — — (140) — Ending balance at original discount rate — 1,448 — — 1,307 — End of period cumulative effect of changes in discount rate assumptions — (161) — — 157 — Balance, end of year $ — $ 1,287 $ — $ — $ 1,464 $ — Present Value of Expected Future Policy Benefits Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ 1,246 $ 6,913 $ 5,739 $ 1,293 $ 7,647 $ 6,343 Beginning of period cumulative effect of changes in discount rate assumptions (84) (349) (689) (144) (660) (997) Beginning balance at original discount rate (including DPL of $38, $0 and $459 in 2022, and, $46, $0 and $452 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,162 6,564 5,050 1,149 6,987 5,346 Effect of changes in cash flow assumptions 4 331 (15) — — — Effect of actual variances from expected experience (38) 38 (34) (53) 193 (3) Balance adjusted for variances from expectation 1,128 6,933 5,001 1,096 7,180 5,343 Issuances 126 14 4 146 12 6 Interest accrual 40 209 210 42 220 222 Benefits payments (126) (750) (506) (122) (848) (521) Ending balance of original discount rate (including DPL of $40, $0 and $671 in 2022, and, $38, $0 and $459 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,168 6,406 4,709 1,162 6,564 5,050 End of period cumulative effect of changes in discount rate assumptions (131) (958) (275) 84 349 689 Balance, end of year $ 1,037 $ 5,448 $ 4,434 $ 1,246 $ 6,913 $ 5,739 Reserves for future policy benefits 1,037 4,161 4,434 1,246 5,449 5,739 Less: Reinsurance recoverable 71 2,263 2 51 2,855 2 Reserves for future policy benefits, after reinsurance recoverable $ 966 $ 1,898 $ 4,432 $ 1,195 $ 2,594 $ 5,737 The following table presents the weighted average duration of the reserves for future policy benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: Payout Closed Block Closed Block Annuities Life Annuity December 31, 2022 Weighted average duration (years) 6.9 7.8 7.0 December 31, 2021 Weighted average duration (years) 7.8 9.5 8.5 The following table presents the amount of undiscounted and discounted expected future gross premiums and expected future benefit payments for future policy benefits for non-participating traditional and limited-payment insurance contracts (in millions). The discounted premiums are calculated using the current discount rate, while the undiscounted cash flows represent the gross cash flows before any discounting is applied: December 31, 2022 2021 Undiscounted Discounted Undiscounted Discounted Payout Annuities Expected future benefit payments $ 1,541 $ 999 $ 1,525 $ 1,209 Expected future gross premiums — — — — Closed Block Life Expected future benefit payments 8,751 5,578 8,853 7,050 Expected future gross premiums 5,976 3,489 6,174 4,611 Closed Block Annuity Expected future benefit payments 5,834 3,729 6,799 5,256 Expected future gross premiums $ — $ — $ — $ — The following table presents the amount of revenue and interest related to non-participating traditional and limited-pay insurance contracts recognized in the Consolidated Income Statements (in millions): Gross Premiums Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Payout Annuities $ 10 $ 16 $ 40 $ 42 Closed Block Life 390 433 170 172 Closed Block Annuity — — 210 222 Total $ 400 $ 449 $ 420 $ 436 The following table presents the weighted average interest rate for the reserves for future policy benefits at the cohort's level for the locked-in discount rate (interest accretion rate), and current discount rate, weighted by the cohort's benefit reserve amount: December 31, 2022 2021 Payout Annuities Interest accretion rate 3.71 % 3.63 % Current discount rate 5.40 % 2.58 % Closed Block Life Interest accretion rate 3.01 % 3.10 % Current discount rate 5.34 % 2.63 % Closed Block Annuity Interest accretion rate 4.40 % 4.40 % Current discount rate 5.41 % 2.65 %
Additional Liability, Long-Duration Insurance	The following table presents the impact of the adoption of LDTI, as of the transition date, on Closed Block Life additional liabilities for universal life-type contracts (in millions): Closed Block Life Balance, December 31, 2020 $ 1,157 Adjustment for reversal of AOCI adjustments 28 Adjustment for cumulative effect of adoption of LDTI — Balance, January 1, 2021 $ 1,185
Market Risk Benefit, Activity	The following table presents the impact of the adoption of LDTI, as of the transition date, on market risk benefits, net (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 7,306 $ 74 $ 7,380 Adjustment for reversal of AOCI adjustments (27) (48) (75) Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date (743) (6) (749) Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs 3,372 72 3,444 Balance, January 1, 2021 - Market risk benefits, net at fair value $ 9,908 $ 92 $ 10,000 The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable on market risk benefits at fair value (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 340 $ 68 $ 408 Adjustment for reversal of AOCI adjustments — (47) (47) Cumulative difference between 12/31/2020 carrying amount and fair value measurement for the MRBs 28 83 111 Balance, January 1, 2021 - Reinsurance recoverable on market risk benefits at fair value $ 368 $ 104 $ 472 Components of the Company’s reinsurance recoverable on market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Variable annuity $ 183 $ 284 Other product lines 38 99 Total $ 221 $ 383 The following table presents a roll-forward of Closed Block Life additional liabilities for annuitization, death and other insurance benefits (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 1,173 $ 1,185 Beginning of period cumulative effect of changes in shadow adjustments (14) (37) Beginning balance excluding shadow 1,159 1,148 Effect of changes in cash flow assumptions 6 — Effect of actual variances from expected experience 58 57 Issuances — — Interest accrual 56 56 Net assessments collected (107) (102) Effect of changes in discount rate assumptions — — Ending balance excluding shadow 1,172 1,159 End of period cumulative effect of changes in shadow adjustments (41) 14 Balance, end of year $ 1,131 $ 1,173 The following table presents the weighted average duration of Closed Block Life additional liabilities for annuitization, death and other insurance benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: December 31, 2022 2021 Weighted average duration (years) 8.1 7.7 The following table presents assessments and interest expense of Closed Block Life additional liabilities for annuitization, death and other insurance benefits recognized in the Consolidated Income Statements (in millions): Assessments Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Additional liability for annuitization, death and other insurance benefits $ (107) $ (102) $ 56 $ 56 The following table presents the weighted average current discount rate of Closed Block Life additional liabilities for annuitization, death and other insurance benefits, applied at the cohort level weighted by reserve benefit amount: December 31, 2022 2021 Weighted average current discount rate 4.96 % 4.93 % The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value.
Deferred Acquisition Costs	The following table presents the impact of the adoption of LDTI, as of the transition date, on deferred acquisition costs (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Deferred acquisition costs $ 13,725 $ 171 $ 13,896 Adjustment for reversal of AOCI adjustments 151 (11) 140 Balance, January 1, 2021 - Deferred acquisition costs $ 13,876 $ 160 $ 14,036 The following table presents the roll-forward of the deferred acquisition costs (in millions). The current period amortization is based on the end of the period estimates of mortality and persistency. The amortization pattern is revised on a prospective basis at the beginning of the period based on the period’s actual experience. Years Ended December 31, 2022 2021 (1) Variable Annuities Balance, beginning of period $ 13,364 $ 13,725 Change in accounting principle — 151 Deferrals of acquisition costs 544 779 Amortization (1,209) (1,291) Variable Annuities balance, end of period $ 12,699 $ 13,364 Reconciliation of total deferred acquisition costs Variable Annuities balance, end of period $ 12,699 $ 13,364 Other product lines, end of period 219 155 Total balance, end of period $ 12,918 $ 13,519 (1) See Note 2 of the Notes to Consolidated Financial Statements for the transition to LDTI impact to the 2021 beginning of period balance for DAC . The following table presents the roll-forward of deferred acquisition costs (in millions) prior to the adoption of LDTI: Year Ended December 31, 2020 Balance, beginning of period $ 12,334 Deferrals of acquisition costs 739 Amortization 534 Unrealized investment (gains) losses 290 Balance, end of period 13,897
Reinsurance Recoverable, Activity	The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable (in millions) : Total Balance, December 31, 2020 $ 35,311 Reclass of carrying amount of MRBs under prior guidance (408) Adjustment for loss contracts under the modified retrospective approach — Effect of remeasurement of liability at current discount rate 253 Balance, January 1, 2021 $ 35,156

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Certain Information with Respect to Segments	Set forth in the tables below is certain information with respect to the Company’s segments, as described above (in millions, recast for the adoption of LDTI for 2022 and 2021): For the Year Ended December 31, 2022 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,108 $ 474 $ — $ — $ 4,582 Premiums 10 111 — — 121 Net investment income 394 706 312 55 1,467 Income (loss) on operating derivatives 17 31 (22) 14 40 Other income 42 35 — 7 84 Total Operating Revenues 4,571 1,357 290 76 6,294 Operating Benefits and Expenses Death, other policy benefits and change in policy 63 706 — — 769 Interest credited on other contract holder funds, net 246 412 201 — 859 (Gain) loss from updating future policy benefits cash flow assumptions, net (6) (24) — — (30) Interest expense 32 — 5 — 37 Operating costs and other expenses, net of deferrals 2,174 129 5 25 2,333 Amortization of deferred acquisition costs 557 11 — — 568 Total Operating Benefits and Expenses 3,066 1,234 211 25 4,536 Pretax Adjusted Operating Earnings $ 1,505 $ 123 $ 79 $ 51 $ 1,758 For the Year Ended December 31, 2021 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 4,636 $ 492 $ — $ — $ 5,128 Premiums 15 119 — — 134 Net investment income 686 950 260 56 1,952 Income (loss) on operating derivatives 52 72 (3) 32 153 Other income 47 39 — 7 93 Total Operating Revenues 5,436 1,672 257 95 7,460 Operating Benefits and Expenses Death, other policy benefits and change in policy 6 731 — — 737 Interest credited on other contract holder funds, net 218 419 188 — 825 (Gain) loss from updating future policy benefits cash flow assumptions, net (8) 80 — — 72 Interest expense 22 — — — 22 Operating costs and other expenses, net of deferrals 2,455 181 5 48 2,689 Amortization of deferred acquisition costs 556 12 — — 568 Total Operating Benefits and Expenses 3,249 1,423 193 48 4,913 Pretax Adjusted Operating Earnings $ 2,187 $ 249 $ 64 $ 47 $ 2,547 For the Year Ended December 31, 2020 Retail Annuities Closed Life Institutional Corporate and Total Operating Revenues Fee income $ 3,806 $ 513 $ — $ — $ 4,319 Premiums 27 143 — — 170 Net investment income 947 776 355 (34) 2,044 Income (loss) on operating derivatives 48 58 — 21 127 Other income 30 26 1 7 64 Total Operating Revenues 4,858 1,516 356 (6) 6,724 Operating Benefits and Expenses Death, other policy benefits and change in policy 142 857 — — 999 Interest credited on other contract holder funds, net 469 436 250 — 1,155 Interest expense 28 — 16 — 44 Operating costs and other expenses, 2,172 190 5 36 2,403 Amortization of deferred acquisition costs 55 17 — 20 92 Total Operating Benefits and Expenses 2,866 1,500 271 56 4,693 Pretax Adjusted Operating Earnings $ 1,992 $ 16 $ 85 $ (62) $ 2,031 The following table summarizes total assets by segment (in millions recast for the adoption of LDTI): December 31, 2022 2021 Retail Annuities $ 269,755 $ 328,227 Closed Life and Annuity Blocks 28,927 32,311 Institutional Products 10,175 10,712 Corporate and Other 2,165 2,664 Total Assets $ 311,022 $ 373,914
Reconciliation of Segment Operating Revenues to Total Revenues	The following table summarizes the reconciling items from the non-GAAP measure of operating revenues to the U.S. GAAP measure of total revenues attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Total operating revenues 6,294 7,460 $ 6,724 Fees attributed to variable annuity benefit reserves 3,077 2,854 2,509 Net gains (losses) on derivatives and investments (873) (5,520) (6,582) Net investment income on funds withheld assets 1,254 1,188 792 Total revenues (1) $ 9,752 $ 5,982 $ 3,443 (1) Substantially all the Company's revenues originated in the U.S. There were no individual customers that exceeded 10% of total revenues.
Reconciliation of Segment Operating Benefits and Expenses to Total Benefits and Expenses	The following table summarizes the reconciling items from the non-GAAP measure of operating benefits and expenses to the U.S. GAAP measure of total benefits and expenses attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Total operating benefits and expenses 4,536 4,913 $ 4,693 Net (gain) loss on market risk benefits (3,536) (3,966) — Benefits attributed to guaranteed benefit features 261 137 150 Amortization of DAC related to non-operating revenues and expenses 656 736 (1,253) SOP 03-1 reserve movements — — 164 Athene reinsurance transaction — — 2,082 Total benefits and expenses $ 1,917 $ 1,820 $ 5,836
Reconciliation of Segment Pretax Adjusted Operating Earnings to Net Income	The following table summarizes the reconciling items, net of deferred acquisition costs, from the non-GAAP measure of pretax adjusted operating earnings to the U.S. GAAP measure of net income attributable to the Company (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Pretax adjusted operating earnings $ 1,758 $ 2,547 $ 2,031 Non-operating adjustments income (loss): Fees attributable to guarantee benefit reserves 3,077 2,854 2,509 Net movement in freestanding derivatives (2,743) (5,675) (4,661) Market risk benefits gains (losses) 3,536 3,966 — Net reserve and embedded derivative movements (222) (141) (3,184) Amortization of DAC associated with non-operating items (655) (736) 1,261 Assumption changes — — 128 Guaranteed benefits and net hedging results 2,993 268 (3,947) Net realized investment gains (losses) (356) 180 373 Net realized investment gains (losses) on funds withheld assets 2,186 (21) 440 Net investment income on funds withheld assets 1,254 1,188 792 Loss on funds withheld reinsurance transaction — — (2,082) Pretax income (loss) 7,835 4,162 (2,393) Income tax expense (benefit) 1,530 680 (841) Net income (loss) $ 6,305 $ 3,482 $ (1,552)

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule Of Composition Of Fair Value Of Debt Securities Classified By Rating	At December 31, 2022 and 2021, the carrying value of investments rated by the Company’s affiliated investment advisor totaled $32 million and $13 million, respectively. Percent of Total Debt December 31, Investment Rating 2022 2021 AAA 18.0% 15.0% AA 8.8% 10.0% A 31.5% 29.4% BBB 38.4% 42.0% Investment grade 96.7% 96.4% BB 2.5% 2.8% B and below 0.8% 0.8% Below investment grade 3.3% 3.6% Total debt securities 100.0% 100.0%
Debt Securities - Amortized Cost, Gross Unrealized Gains and Losses, Fair Value and Allowance for Credit Loss and Maturities	At December 31, 2022 and 2021, the amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities, including securities carried at fair value under the fair value option, were as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 5,731 $ — $ 1 $ 1,008 $ 4,724 Other government securities 1,719 2 2 251 1,468 Public utilities 5,833 — 26 692 5,167 Corporate securities 26,532 15 59 3,671 22,905 Residential mortgage-backed 498 6 19 59 452 Commercial mortgage-backed 1,813 — — 182 1,631 Other asset-backed securities 6,231 — 8 514 5,725 Total debt securities $ 48,357 $ 23 $ 115 $ 6,377 $ 42,072 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value U.S. government securities $ 4,515 $ — $ 97 $ 301 $ 4,311 Other government securities 1,489 — 147 17 1,619 Public utilities 6,016 — 669 25 6,660 Corporate securities 27,817 — 1,673 236 29,254 Residential mortgage-backed 514 2 45 3 554 Commercial mortgage-backed 1,960 — 75 6 2,029 Other asset-backed securities 6,985 7 71 23 7,026 Total debt securities $ 49,296 $ 9 $ 2,777 $ 611 $ 51,453 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option. The amortized cost, ACL, gross unrealized gains and losses, and fair value of debt securities at December 31, 2022, by contractual maturity, are shown below (in millions). Actual maturities may differ from contractual maturities where securities can be called or prepaid with or without early redemption penalties. Allowance Gross Gross Amortized for Unrealized Unrealized Fair Cost (1) Credit Loss Gains Losses Value Due in 1 year or less $ 1,994 $ — $ 1 $ 7 $ 1,988 Due after 1 year through 5 years 8,739 3 14 431 8,319 Due after 5 years through 10 years 12,212 11 26 1,515 10,712 Due after 10 years through 20 years 9,144 3 46 1,655 7,532 Due after 20 years 7,726 — 1 2,014 5,713 Residential mortgage-backed 498 6 19 59 452 Commercial mortgage-backed 1,813 — — 182 1,631 Other asset-backed securities 6,231 — 8 514 5,725 Total $ 48,357 $ 23 $ 115 $ 6,377 $ 42,072 (1) Amortized cost, apart from the carrying value for securities carried at fair value under the fair value option.
Residential Mortgage-Backed Securities	The Company’s non-agency RMBS include investments in securities backed by prime, Alt-A, and subprime loans as follows (in millions): Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2022 Cost (1) Credit Loss Gains Losses Value Prime $ 205 $ 4 $ 2 $ 30 $ 173 Alt-A 84 2 7 10 79 Subprime 27 — 10 1 36 Total non-agency RMBS $ 316 $ 6 $ 19 $ 41 $ 288 Allowance Gross Gross Amortized for Unrealized Unrealized Fair December 31, 2021 Cost (1) Credit Loss Gains Losses Value Prime $ 227 $ 1 $ 10 $ 2 $ 234 Alt-A 94 1 21 — 114 Subprime 39 — 13 — 52 Total non-agency RMBS $ 360 $ 2 $ 44 $ 2 $ 400 (1) Amortized cost, apart from carrying value for securities carried at fair value under the fair value option.
Debt Securities in Continuous Unrealized Loss Position	The following tables summarize the amount of gross unrealized losses, fair value and the number of securities aggregated by investment category and length of time that individual debt securities have been in a continuous loss position (dollars in millions): December 31, 2022 December 31, 2021 Less than 12 months Less than 12 months Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 339 $ 2,664 38 $ 2 $ 107 16 Other government securities 174 1,258 143 17 252 23 Public utilities 507 4,265 488 18 712 92 Corporate securities 2,072 16,936 2,307 178 6,266 722 Residential mortgage-backed 43 278 195 3 174 109 Commercial mortgage-backed 136 1,414 177 5 314 37 Other asset-backed securities 291 3,531 421 22 3,250 338 Total temporarily impaired securities $ 3,562 $ 30,346 3,769 $ 245 $ 11,075 1,337 12 months or longer 12 months or longer Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 669 $ 1,386 6 $ 299 $ 3,190 7 Other government securities 77 177 23 — 4 2 Public utilities 185 513 86 7 99 8 Corporate securities 1,599 4,549 637 58 661 69 Residential mortgage-backed 16 81 94 — 11 12 Commercial mortgage-backed 46 192 31 1 30 3 Other asset-backed securities 223 1,577 174 1 11 3 Total temporarily impaired securities $ 2,815 $ 8,475 1,051 $ 366 $ 4,006 104 Total Total Gross Fair Gross Fair Unrealized # of Unrealized # of Losses securities Losses securities U.S. government securities $ 1,008 $ 4,050 40 $ 301 $ 3,297 21 Other government securities 251 1,435 162 17 256 25 Public utilities 692 4,778 559 25 811 97 Corporate securities (1) 3,671 21,485 2,786 236 6,927 770 Residential mortgage-backed 59 359 289 3 185 121 Commercial mortgage-backed 182 1,606 206 6 344 39 Other asset-backed securities 514 5,108 584 23 3,261 341 Total temporarily impaired securities $ 6,377 $ 38,821 4,626 $ 611 $ 15,081 1,414 (1) Certain securities contain multiple lots and fit the criteria of both aging groups.
Rollforward of Debt Securities Allowance for Credit Loss	The roll-forward of the allowance for credit loss for available-for-sale securities by sector is as follows (in millions): December 31, 2022 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2022 $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 Additions for which credit loss was not previously recorded — 6 1 43 4 — — 54 Changes for securities with previously recorded credit loss — — (1) (10) — — (7) (18) Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — (4) — (1) — — — (5) Securities intended/required to be sold before recovery of amortized cost basis — — — (17) — — — (17) Balance at December 31, 2022 (2) $ — $ 2 $ — $ 15 $ 6 $ — $ — $ 23 December 31, 2021 US Other government securities Public Corporate securities Residential mortgage-backed Commercial mortgage-backed Other Total Balance at January 1, 2021 $ — $ — $ — $ — $ — $ — $ 14 $ 14 Additions for which credit loss was not previously recorded — — — — 2 — — 2 Changes for securities with previously recorded credit loss — — — — — — 9 9 Additions for purchases of PCD debt securities (1) — — — — — — — — Reductions from charge-offs — — — — — — — — Reductions for securities disposed — — — — — — (16) (16) Securities intended/required to be sold before recovery of amortized cost basis — — — — — — — — Balance at December 31, 2021 (2) $ — $ — $ — $ — $ 2 $ — $ 7 $ 9 (1) Represents purchased credit-deteriorated ("PCD") fixed maturity available-for-sale securities. (2) Accrued interest receivable on debt securities totaled $395 million and $373 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses for the years ended December 31, 2022 and 2021.
Sources of Net Investment Income	The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,108 $ 1,063 $ 1,579 Equity securities (25) 8 (4) Mortgage loans 284 319 365 Policy loans 70 73 79 Limited partnerships 74 559 105 Other investment income 44 14 14 Total investment income excluding funds withheld assets 1,555 2,036 2,138 Investment expenses (89) (84) (94) Net investment income excluding funds withheld assets 1,466 1,952 2,044 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Net investment income $ 2,720 $ 3,140 $ 2,836 (1) Includes unrealized gains and losses on securities for which the Company elected the fair value option. The following assets and liabilities were held in support of reserves associated with the Company’s funds withheld reinsurance agreements and were reported in the respective financial statement line items in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Assets Debt securities, available-for-sale $ 13,622 $ 19,094 Debt securities, at fair value under the fair value option 159 164 Equity securities 77 116 Mortgage loans 4,127 4,739 Mortgage loans, at fair value under the fair value option 582 — Policy loans 3,435 3,483 Freestanding derivative instruments, net 78 37 Other invested assets 793 715 Cash and cash equivalents 260 438 Accrued investment income 166 162 Other assets and liabilities, net (73) (56) Total assets (1) $ 23,226 $ 28,892 Liabilities Funds held under reinsurance treaties (2) $ 22,957 $ 29,007 Total liabilities $ 22,957 $ 29,007 (1) Certain assets are reported at amortized cost while the fair value of those assets is reported in the embedded derivative in the funds withheld liability. (2) Includes funds withheld embedded derivative asset (liability) of $3,158 million and $(120) million at December 31, 2022 and 2021, respectively. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees.
Net Gains (Losses) on Derivatives and Investments	The following table summarizes net gains (losses) on derivatives and investments (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 41 $ 168 $ 772 Realized losses on sale (425) (88) (195) Credit loss income (expense) (5) (10) (14) Gross impairments — — (27) Credit loss income (expense) on mortgage loans (16) 62 (61) Other (1) 50 49 (102) Net gains (losses) excluding derivatives and funds withheld assets (355) 181 373 Net gains (losses) on derivative instruments (see Note 5) (2,663) (5,527) (7,267) Net gains (losses) on derivatives and investments (3,018) (5,346) (6,894) Net gains (losses) on funds withheld reinsurance treaties (see Note 8) 2,186 (21) 440 Total net gains (losses) on derivatives and investments $ (832) $ (5,367) $ (6,454) (1) Includes the foreign currency gain or loss related to foreign denominated trust instruments supporting funding agreements.
Rollforward of Mortgagees Allowance for Credit Loss	The following table provides a summary of the allowance for credit losses in the Company’s mortgage loan portfolios (in millions): December 31, 2022 Apartment Hotel Office Retail Warehouse Residential Mortgage Total Balance at January 1, 2022 $ 19 $ 9 $ 28 $ 17 $ 12 $ 9 $ 94 Charge offs, net of recoveries — — — — — — — Additions from purchase of PCD mortgage loans — — — — — — — Provision (release) (1) 11 (13) 5 4 (5) 1 Balance at December 31, 2022 (1) $ 18 $ 20 $ 15 $ 22 $ 16 $ 4 $ 95 December 31, 2021 Apartment Hotel Office Retail Warehouse Residential Mortgage Total Balance at January 1, 2021 $ 58 $ 34 $ 25 $ 24 $ 24 $ 14 $ 179 Charge offs, net of recoveries — — — — — — — Additions from purchase of PCD mortgage loans — — — — — — — Provision (release) (39) (25) 3 (7) (12) (5) (85) Balance at December 31, 2021 (1) $ 19 $ 9 $ 28 $ 17 $ 12 $ 9 $ 94 (1) Accrued interest receivable totaled $48 million and $44 million as of December 31, 2022 and 2021, respectively, and was excluded from the determination of credit losses.
Information About Credit Quality and Vintage Year of Commercial Mortgage Loans	The following tables provide information about the credit quality and vintage year of mortgage loans (in millions): December 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total % of Commercial mortgage loans Loan to value ratios: Less than 70% $ 771 $ 1,266 $ 1,171 $ 1,473 $ 1,480 $ 3,421 $ 4 $ 9,586 94 % 70% - 80% 125 190 32 13 5 59 — 424 4 % 80% - 100% — 152 — — 5 40 — 197 2 % Greater than 100% — — — 25 — 9 — 34 — % Total commercial mortgage loans 896 1,608 1,203 1,511 1,490 3,529 4 10,241 100 % Debt service coverage ratios: Greater than 1.20x 694 1,092 955 1,387 1,324 3,211 4 8,667 85 % 1.00x - 1.20x 202 372 106 83 34 172 — 969 9 % Less than 1.00x — 144 142 41 132 146 — 605 6 % Total commercial mortgage loans 896 1,608 1,203 1,511 1,490 3,529 4 10,241 100 % Residential mortgage loans Performing 413 308 49 37 14 409 — 1,230 94 % Nonperforming 6 11 8 6 7 40 — 78 6 % Total residential mortgage loans 419 319 57 43 21 449 — 1,308 100 % Total mortgage loans $ 1,315 $ 1,927 $ 1,260 $ 1,554 $ 1,511 $ 3,978 $ 4 $ 11,549 100 % December 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Total % of Commercial mortgage loans Loan to value ratios: Less than 70% $ 1,270 $ 1,346 $ 1,592 $ 1,599 $ 1,305 $ 2,703 $ 4 $ 9,819 93 % 70% - 80% 345 35 — 52 85 153 — 670 6 % 80% - 100% — — 39 5 — — — 44 — % Greater than 100% — — — — — 10 — 10 — % Total commercial mortgage loans 1,615 1,381 1,631 1,656 1,390 2,866 4 10,543 100 % Debt service coverage ratios: Greater than 1.20x 796 974 1,532 1,293 1,257 2,609 4 8,465 80 % 1.00x - 1.20x 651 329 81 90 11 68 — 1,230 12 % Less than 1.00x 168 78 18 273 122 189 — 848 8 % Total commercial mortgage loans 1,615 1,381 1,631 1,656 1,390 2,866 4 10,543 100 % Residential mortgage loans Performing 268 22 18 16 7 396 — 727 77 % Nonperforming 4 44 22 19 23 100 — 212 23 % Total residential mortgage loans 272 66 40 35 30 496 — 939 100 % Total mortgage loans $ 1,887 $ 1,447 $ 1,671 $ 1,691 $ 1,420 $ 3,362 $ 4 $ 11,482 100 % December 31, 2022 In Good Standing (1) Restructured Greater than 90 Days Delinquent In the Process of Foreclosure Total Carrying Value Apartment $ 3,558 $ — $ — $ — $ 3,558 Hotel 1,015 — — — 1,015 Office 1,795 — — — 1,795 Retail 2,085 — — — 2,085 Warehouse 1,788 — — — 1,788 Total commercial 10,241 — — — 10,241 Residential (2) 1,230 — 63 15 1,308 Total $ 11,471 $ — $ 63 $ 15 $ 11,549 December 31, 2021 In Good Standing (1) Restructured Greater than 90 Days Delinquent In the Process of Foreclosure Total Carrying Value Apartment $ 3,755 $ — $ — $ — $ 3,755 Hotel 1,054 — — — 1,054 Office 1,889 — — — 1,889 Retail 2,104 — — — 2,104 Warehouse 1,741 — — — 1,741 Total commercial 10,543 — — — 10,543 Residential (2) 727 — 206 6 939 Total $ 11,270 $ — $ 206 $ 6 $ 11,482 (1) At December 31, 2022 and 2021, includes mezzanine loans of $410 million and $278 million in the Apartment category, $41 million and $75 million in the Hotel category, $236 million and $252 million in the Office category, $43 million and $27 million in the Retail category, and $140 million and $26 million in the Warehouse category, respectively. (2) At December 31, 2022 and 2021, includes $41 million and $202 million of loans purchased when the loans were greater than 90 days delinquent and $12 million and $5 million of loans in process of foreclosure are supported with insurance or other guarantees provided by various governmental programs, respectively.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Aggregate Contractual Notional Amounts and Fair Values of Derivatives	A summary of the aggregate contractual or notional amounts and fair values of the Company’s freestanding and embedded derivative instruments are as follows (in millions, recast for the adoption of LDTI): December 31, 2022 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset Freestanding derivatives Cross-currency swaps $ 1,825 $ 73 $ 104 $ (31) Equity index call options 17,500 106 — 106 Equity index futures (2) 19,760 — — — Equity index put options 30,500 958 — 958 Interest rate swaps 7,728 5 231 (226) Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 25,000 — 1,711 (1,711) Interest rate futures (2) 105,249 — — — Total return swaps 739 31 — 31 Total freestanding derivatives 209,801 1,173 2,046 (873) Embedded derivatives Fixed index annuity embedded derivatives (3) N/A — 931 (931) Registered index linked annuity embedded derivatives (3) N/A — 205 (205) Total embedded derivatives N/A — 1,136 (1,136) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 23 1 22 Cross-currency forwards 1,490 74 18 56 Funds withheld embedded derivative (4) N/A 3,158 — 3,158 Total derivatives related to funds withheld under reinsurance treaties 1,648 3,255 19 3,236 Total $ 211,449 $ 4,428 $ 3,201 $ 1,227 (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Included within other contract holder funds on the Consolidated Balance Sheets. The non-performance risk adjustment is included in the balance above. (4) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets. December 31, 2021 Contractual/ Assets Liabilities Net Notional Fair Fair Fair Value Amount (1) Value Value Asset Freestanding derivatives Cross-currency swaps $ 1,767 $ 55 $ 35 $ 20 Equity index call options 21,000 606 — 606 Equity index futures (2) 18,258 — — — Equity index put options 27,500 150 — 150 Interest rate swaps 7,728 430 — 430 Interest rate swaps - cleared (2) 1,500 — — — Put-swaptions 19,000 133 — 133 Interest rate futures (2) 894 — — — Total freestanding derivatives 97,647 1,374 35 1,339 Embedded derivatives Fixed index annuity embedded derivatives (3) N/A — 1,439 (1,439) Registered index linked annuity embedded derivatives (3) N/A — 6 (6) Total embedded derivatives N/A — 1,445 (1,445) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 158 10 1 9 Cross-currency forwards 1,119 33 5 28 Funds withheld embedded derivative (4) N/A — 120 (120) Total derivatives related to funds withheld under reinsurance treaties 1,277 43 126 (83) Total $ 98,924 $ 1,417 $ 1,606 $ (189) (1) The notional amount for swaps and swaptions represents the stated principal balance used as a basis for calculating payments. The contractual amount for futures and options represents the market exposure of open positions. (2) Variation margin is considered settlement resulting in the netting of cash received/paid for variation margin against the fair value of the trades. (3) Included within other contract holder funds on the Consolidated Balance Sheets. The non-performance risk adjustment is included in the balance above. (4) Included within funds withheld payable under reinsurance treaties on the Consolidated Balance Sheets.
Gains and Losses, and Change in Fair Value of Derivatives	The following table reflects the results of the Company’s derivatives, including gains (losses) and change in fair value of freestanding derivative instruments and embedded derivatives (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Derivatives excluding funds withheld under reinsurance treaties Cross-currency swaps $ (67) $ (36) $ 74 Equity index call options (1,830) 1,479 1,468 Equity index futures 3,005 (4,663) (8,286) Equity index put options (244) (1,202) (218) Interest rate swaps (615) (179) 578 Interest rate swaps - cleared (201) (64) 1 Put-swaptions (1,832) 134 199 Interest rate futures (924) (990) 1,651 Total return swaps 5 — — Fixed index annuity embedded derivatives 3 (5) 30 Registered index linked annuity embedded derivatives 37 (1) — Variable annuity embedded derivatives — — (2,764) Total net gains (losses) on derivative instruments excluding derivative instruments related to funds withheld under reinsurance treaties (2,663) (5,527) (7,267) Derivatives related to funds withheld under reinsurance treaties Cross-currency swaps 14 15 (5) Cross-currency forwards 79 42 (19) Treasury futures — — (204) Funds withheld embedded derivative 3,278 707 (827) Total net gains (losses) on derivative instruments related to funds withheld under reinsurance treaties 3,371 764 (1,055) Total net gains (losses) on derivative instruments including derivative instruments related to funds withheld under reinsurance treaties $ 708 $ (4,763) $ (8,322)
Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements - Assets	The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 33 — 33 — 33 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,110 $ — $ 3,110 $ 385 $ 33 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 14 — 14 — 14 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,627 $ — $ 1,627 $ 41 $ 14 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.
Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements - Liabilities	The following tables present the gross and net information about the Company’s financial instruments subject to master netting arrangements (in millions): December 31, 2022 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,270 $ — $ 1,270 $ 385 $ 683 $ 157 $ 45 Financial Liabilities: Freestanding derivative liabilities $ 2,065 $ — $ 2,065 $ 385 $ — $ 1,638 $ 42 Securities loaned 33 — 33 — 33 — — Repurchase agreements 1,012 — 1,012 — — 1,012 — Total financial liabilities $ 3,110 $ — $ 3,110 $ 385 $ 33 $ 2,650 $ 42 (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives. December 31, 2021 Gross Gross Net Amounts Gross Amounts Not Offset Financial Instruments (1) Cash Securities Collateral (2) Net Financial Assets: Freestanding derivative assets $ 1,417 $ — $ 1,417 $ 41 $ 817 $ 555 $ 4 Financial Liabilities: Freestanding derivative liabilities $ 41 $ — $ 41 $ 41 $ — $ — $ — Securities loaned 14 — 14 — 14 — — Repurchase agreements 1,572 — 1,572 — — 1,572 — Total financial liabilities $ 1,627 $ — $ 1,627 $ 41 $ 14 $ 1,572 $ — (1) Represents the amount that could be offset under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets. (2) Excludes initial margin amounts for exchange-traded derivatives.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value and Carrying Value of Financial Instruments	The following table summarizes the fair value and carrying value of the Company’s financial instruments (in millions, recast for the adoption of LDTI): December 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets Debt securities (1) $ 42,072 $ 42,072 $ 51,453 $ 51,453 Equity securities 359 359 257 257 Mortgage loans 11,549 10,841 11,482 11,910 Limited partnerships 2,434 2,434 2,252 2,252 Policy loans (1) 4,376 4,376 4,474 4,474 Freestanding derivative instruments 1,270 1,270 1,417 1,417 Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock 146 146 125 125 Cash and cash equivalents 3,934 3,934 1,799 1,799 Reinsurance recoverable on market risk benefits 221 221 383 383 Market risk benefit assets 4,865 4,865 1,664 1,664 Receivables from affiliates 179 179 197 197 Separate account assets 195,906 195,906 248,949 248,949 Liabilities Annuity reserves (2) 37,143 32,212 — 37,529 45,836 Market risk benefit liabilities 5,662 5,662 — 8,033 8,033 Reserves for guaranteed investment contracts (3) 1,128 1,099 894 923 Trust instruments supported by funding agreements (3) 5,887 5,760 5,986 6,175 FHLB funding agreements (3) 2,004 2,104 1,950 1,938 Funds withheld payable under reinsurance treaties (1) 22,957 22,957 29,007 29,007 Long-term debt 470 492 494 563 Securities lending payable 33 33 14 14 Freestanding derivative instruments 2,065 2,065 41 41 Repurchase agreements 1,012 1,012 1,572 1,572 Separate account liabilities 195,906 195,906 248,949 248,949 (1) Includes items carried at fair value under the fair value option. (2) Annuity reserves represent only the components of other contract holder funds and reserves for future policy benefits and claims payable that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (3) Included as a component of other contract holder funds on the Consolidated Balance Sheets.
Fair Value Option, Disclosures	The fair value and aggregate contractual principal for mortgage loans where the fair value option was elected after December 31, 2021, were as follows (in millions): December 31, 2022 Fair value $ 582 Aggregate contractual principal 591
Assets and Liabilities Carried at Fair Value by Hierarchy Levels	The following tables summarize the Company’s assets and liabilities that are carried at fair value by hierarchy levels (in millions, recast for the adoption of LDTI): December 31, 2022 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,724 $ 4,724 $ — $ — Other government securities 1,468 — 1,468 — Public utilities 5,167 — 5,167 — Corporate securities 22,905 — 22,905 — Residential mortgage-backed 452 — 452 — Commercial mortgage-backed 1,631 — 1,631 — Other asset-backed securities 5,725 — 5,725 — Equity securities 359 163 195 1 Mortgage loans 582 — — 582 Limited partnerships (1) 14 — — 14 Policy loans 3,419 — — 3,419 Freestanding derivative instruments 1,270 — 1,270 — Cash and cash equivalents 3,934 3,934 — — Reinsurance recoverable on market risk benefits 221 — — 221 Market risk benefit assets 4,865 — — 4,865 Separate account assets 195,906 — 195,906 — Total $ 252,642 $ 8,821 $ 234,719 $ 9,102 Liabilities Embedded derivative liabilities (2) $ 1,135 $ — $ 1,135 $ — Funds withheld payable under reinsurance treaties (3) 424 — — 424 Freestanding derivative instruments 2,065 — 2,065 — Market risk benefit liabilities 5,662 — — 5,662 Total $ 9,286 $ — $ 3,200 $ 6,086 (1) Excludes $2,420 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative liabilities of $205 million related to RILA and $931 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Total Level 1 Level 2 Level 3 Assets Debt securities U.S. government securities $ 4,311 $ 4,311 $ — $ — Other government securities 1,619 — 1,619 — Public utilities 6,660 — 6,660 — Corporate securities 29,254 — 29,254 — Residential mortgage-backed 554 — 554 — Commercial mortgage-backed 2,029 — 2,029 — Other asset-backed securities 7,026 — 7,026 — Equity securities 257 212 43 2 Limited partnerships (1) 18 — 17 1 Policy loans 3,467 — — 3,467 Freestanding derivative instruments 1,417 — 1,417 — Cash and cash equivalents 1,799 1,799 — — Reinsurance recoverable on market risk benefits 383 — — 383 Market risk benefit assets 1,664 — — 1,664 Separate account assets 248,949 — 248,949 — Total $ 309,407 $ 6,322 $ 297,568 $ 5,517 Liabilities Embedded derivative (assets) liabilities (2) $ 1,445 $ — $ 1,445 $ — Funds withheld payable under reinsurance treaties (3) 3,759 — — 3,759 Freestanding derivative instruments 41 — 41 — Market risk benefit liabilities 8,033 — — 8,033 Total $ 13,278 $ — $ 1,486 $ 11,792 (1) Excludes $2,234 million of limited partnership investments measured at NAV. (2) Includes net embedded derivative liabilities of $6 million related to RILA and $1,439 million of fixed index annuities, both included in other contract holder funds on the Consolidated Balance Sheets. (3) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option.
Balances of Level 3 Assets and Liabilities Measured at Fair Value with Corresponding Pricing Sources	The table below presents the balances of Level 3 assets and liabilities measured at fair value with their corresponding pricing sources (in millions, recast for the adoption of LDTI): December 31, 2022 Assets Total Internal External Equity securities $ 1 $ 1 $ — Mortgage loans 582 — 582 Limited partnerships 14 8 6 Policy loans 3,419 3,419 — Reinsurance recoverable on market risk benefits 221 221 — Market risk benefit assets 4,865 4,865 — Total $ 9,102 $ 8,514 $ 588 Liabilities Funds withheld payable under reinsurance treaties (1) $ 424 $ 424 $ — Market risk benefit liabilities 5,662 5,662 — Total $ 6,086 $ 6,086 $ — (1) Includes the Athene Embedded Derivative asset of $3,158 million and funds withheld payable under reinsurance treaties at fair value under the fair value option. December 31, 2021 Assets Total Internal External Equity securities $ 2 $ 1 $ 1 Limited partnerships 1 1 — Policy loans 3,467 3,467 — Reinsurance recoverable on market risk benefits 383 383 — Market risk benefit assets 1,664 1,664 — Total $ 5,517 $ 5,516 $ 1 Liabilities Funds withheld payable under reinsurance treaties (1) 3,759 3,759 — Market risk benefit liabilities 8,033 8,033 — Total $ 11,792 $ 11,792 $ — (1) Includes the Athene Embedded Derivative liability of $120 million and funds withheld payable under reinsurance treaties at fair value under the fair value option.
Quantitative Information on Significant Internally-Priced Level 3 Assets and Liabilities	The table below presents quantitative information on internally priced Level 3 assets and liabilities that use significant unobservable inputs (in millions, recast for the adoption of LDTI): As of December 31, 2022 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets Reinsurance recoverable on market risk benefits $ 221 Discounted cash flow Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 2.97% - 8.10% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 47.50% - 52.50% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Market risk benefit assets $ 4,865 Discounted cash Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 0.05% - 41.28% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase Liabilities Market risk benefit liabilities $ 5,662 Discounted cash flow Mortality (1) 0.01% - 23.33% Decrease Lapse (2) 0.05% - 41.28% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.64% - 2.27% Decrease Long-term Equity Volatility (6) 18.50% - 23.68% Increase (1) Mortality rates vary by attained age, tax qualification status, guaranteed benefit election, and duration. The range displayed reflects ages from the minimum issue age for the benefit through age 95, which corresponds to the typical maturity age. A mortality improvement assumption is also applied. (2) Base lapse rates vary by contract-level factors, such as product type, surrender charge schedule and optional benefits election. Lapse rates are further adjusted based on the degree to which a guaranteed benefit is in-the-money, with lower lapse applying when benefits are more in-the-money. Lapse rates are also adjusted to reflect lower lapse expectations when guaranteed benefits are utilized. (3) The utilization rate represents the expected percentage of contracts that will utilize the benefit through annuitization (GMIB) or commencement of withdrawals (GMWB). Utilization may vary by benefit type, attained age, duration, tax qualification status, benefit provision, and degree to which the guaranteed benefit is in-the-money. (4) The withdrawal rate represents the percentage of annual withdrawal assumed relative to the maximum allowable withdrawal amount under the free partial withdrawal provision or the GMWB, as applicable. Free partial withdrawal rates vary based on the product type and duration. Withdrawal rates on contracts with a GMWB vary based on attained age, tax qualification status, GMWB type and GMWB benefit provisions. (5) Non-performance risk adjustment is applied as a spread over the risk-free rate to determine the rate used to discount the related cash flows and varies by projection year. (6) Long-term equity volatility represents the equity volatility beyond the period for which observable equity volatilities are available. As of December 31, 2021 Fair Valuation Technique(s) Significant Unobservable Input(s) Assumption or Input Range Impact of Increase in Input on Fair Value Assets Reinsurance recoverable on market risk benefits $ 383 Discounted cash flow Mortality (1) 0.01% - 23.42% Decrease Lapse (2) 3.33% - 9.04% Decrease Utilization (3) 0.00% - 20.00% Increase Withdrawal (4) 37.50% - 45.00% Increase Non-performance risk adjustment (5) 0.11% - 1.50% Decrease Long-term Equity Volatility (6) 18.50% - 22.06% Increase Market risk benefit assets $ 1,664 Discounted cash flow Mortality (1) 0.01% - 23.42% Decrease Lapse (2) 0.07% - 30.88% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.11% - 1.50% Decrease Long-term Equity Volatility (6) 18.50% - 22.06% Increase Liabilities Market risk benefit liabilities $ 8,033 Discounted cash flow Mortality (1) 0.01% - 23.42% Decrease Lapse (2) 0.07% - 30.88% Decrease Utilization (3) 0.00% - 100.00% Increase Withdrawal (4) 11.25% - 100.00% Increase Non-performance risk adjustment (5) 0.11% - 1.50% Decrease Long-term Equity Volatility (6) 18.50% - 22.06% Increase (1) Mortality rates vary by attained age, tax qualification status, guaranteed benefit election, and duration. The range displayed reflects ages from the minimum issue age for the benefit through age 95, which corresponds to the typical maturity age. A mortality improvement assumption is also applied. (2) Base lapse rates vary by contract-level factors, such as product type, surrender charge schedule and optional benefits election. Lapse rates are further adjusted based on the degree to which a guaranteed benefit is in-the-money, with lower lapse applying when benefits are more in-the-money. Lapse rates are also adjusted to reflect lower lapse expectations when guaranteed benefits are utilized. (3) The utilization rate represents the expected percentage of contracts that will utilize the benefit through annuitization (GMIB) or commencement of withdrawals (GMWB). Utilization may vary by benefit type, attained age, duration, tax qualification status, benefit provision, and degree to which the guaranteed benefit is in-the-money. (4) The withdrawal rate represents the percentage of annual withdrawal assumed relative to the maximum allowable withdrawal amount under the free partial withdrawal provision or the GMWB, as applicable. Free partial withdrawal rates vary based on the product type and duration. Withdrawal rates on contracts with a GMWB vary based on attained age, tax qualification status, GMWB type and GMWB benefit provisions. (5) Non-performance risk adjustment is applied as a spread over the risk-free rate to determine the rate used to discount the related cash flows and varies by projection year.
Rollforwards of Financial Instruments for Which Significant Unobservable Inputs (Level 3) are Used - Assets	Therefore, the impact of the derivative instruments reported in Level 3 may vary significantly from the total income effect of the hedged instruments. Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2022 2022 Income Income Settlements Level 3 2022 Assets Equity securities 2 (1) — — — 1 Mortgage loans — (7) — 589 — 582 Limited partnerships 1 (1) — — 14 14 Reinsurance recoverable on market risk benefits 383 (162) — — — 221 Market risk benefit assets 1,664 3,201 — — — 4,865 Policy loans 3,467 29 — (77) — 3,419 Liabilities Funds withheld payable under reinsurance treaties $ (3,759) $ 3,249 $ — $ 86 $ — $ (424) Market risk benefit liabilities $ (8,033) $ 497 $ 1,874 $ — $ — $ (5,662) Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2021 2021 Income Income Settlements Level 3 2021 Assets Equity securities $ 2 $ — $ — $ — $ — $ 2 Limited partnerships 1 — — — — 1 Reinsurance recoverable on market risk benefits 472 (89) — — — 383 Market risk benefit assets 690 974 — — — 1,664 Policy loans 3,454 (2) — 15 — 3,467 Liabilities Funds withheld payable under reinsurance treaties $ (4,453) $ 708 $ — $ (14) $ — $ (3,759) Market risk benefit liabilities (10,690) 3,081 (424) — — (8,033)
Rollforwards of Financial Instruments for Which Significant Unobservable Inputs (Level 3) are Used - Liabilities	Therefore, the impact of the derivative instruments reported in Level 3 may vary significantly from the total income effect of the hedged instruments. Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2022 2022 Income Income Settlements Level 3 2022 Assets Equity securities 2 (1) — — — 1 Mortgage loans — (7) — 589 — 582 Limited partnerships 1 (1) — — 14 14 Reinsurance recoverable on market risk benefits 383 (162) — — — 221 Market risk benefit assets 1,664 3,201 — — — 4,865 Policy loans 3,467 29 — (77) — 3,419 Liabilities Funds withheld payable under reinsurance treaties $ (3,759) $ 3,249 $ — $ 86 $ — $ (424) Market risk benefit liabilities $ (8,033) $ 497 $ 1,874 $ — $ — $ (5,662) Total Realized/Unrealized Gains (Losses) Included in Purchases, Fair Value Sales, Transfers Fair Value as of Other Issuances in and/or as of January 1, Net Comprehensive and (out of) December 31, December 31, 2021 2021 Income Income Settlements Level 3 2021 Assets Equity securities $ 2 $ — $ — $ — $ — $ 2 Limited partnerships 1 — — — — 1 Reinsurance recoverable on market risk benefits 472 (89) — — — 383 Market risk benefit assets 690 974 — — — 1,664 Policy loans 3,454 (2) — 15 — 3,467 Liabilities Funds withheld payable under reinsurance treaties $ (4,453) $ 708 $ — $ (14) $ — $ (3,759) Market risk benefit liabilities (10,690) 3,081 (424) — — (8,033)
Components of Amounts Included in Purchases, Sales, Issuances and Settlements	The components of the amounts included in purchases, sales, issuances and settlements for the years ended December 31, 2022 and 2021 shown above are as follows (in millions): December 31, 2022 Purchases Sales Issuances Settlements Total Assets Mortgage loans $ 632 $ (43) $ — $ — $ 589 Policy loans — — 215 (292) (77) Total $ 632 $ (43) $ 215 $ (292) $ 512 Liabilities Funds withheld payable under reinsurance treaties $ — $ — $ (222) $ 308 $ 86 December 31, 2021 Purchases Sales Issuances Settlements Total Assets Policy loans $ — $ — $ 261 $ (246) $ 15 Liabilities Funds withheld payable under reinsurance treaties $ — $ — $ (468) $ 454 $ (14)
Portion of Gains (Losses) Included in Net Income or Other Comprehensive Income	The portion of gains (losses) included in net income (loss) or other comprehensive income (loss) ("OCI") attributable to the change in unrealized gains and losses on Level 3 financial instruments still held was as follows (in millions, recast for the adoption of LDTI): Year Ended December 31, 2022 2021 Included in Included in OCI Included in Included in OCI Assets Equity securities $ (1) $ — $ — $ — Mortgage loans (7) — — — Limited partnerships (1) — — — Reinsurance recoverable on market risk benefits (162) — (89) — Market risk benefit assets 3,201 — 974 — Policy loans 29 — (2) — Liabilities Funds withheld payable under reinsurance treaties $ 3,249 $ — $ 708 $ — Market risk benefit liabilities 497 1,874 3,081 (424)
Carrying Amount and Fair Value by Hierarchy of Certain Financial Instruments Not Reported at Fair Value	The table below presents the carrying amount and fair value by fair value hierarchy level of certain financial instruments that are not reported at fair value (in millions): December 31, 2022 Fair Value Carrying Total Level 1 Level 2 Level 3 Assets Mortgage loans $ 10,967 $ 10,259 $ — $ — $ 10,259 Policy loans 957 957 — — 957 FHLBI capital stock 146 146 146 — — Receivables from affiliates 179 179 — — 179 Liabilities Annuity reserves (1) $ 36,008 $ 31,077 $ — $ — $ 31,077 Reserves for guaranteed investment contracts (2) 1,128 1,099 — — 1,099 Trust instruments supported by funding agreements (2) 5,887 5,760 — — 5,760 FHLB funding agreements (2) 2,004 2,104 — — 2,104 Funds withheld payable under reinsurance treaties (3) 22,533 22,533 — — 22,533 Debt 470 492 — 334 158 Securities lending payable 33 33 — 33 — Repurchase agreements 1,012 1,012 — 1,012 — Separate account liabilities (4) 195,906 195,906 — 195,906 — December 31, 2021 Fair Value Carrying Total Level 1 Level 2 Level 3 Assets Mortgage loans $ 11,482 $ 11,910 $ — $ — $ 11,910 Policy loans 1,007 1,007 — — 1,007 FHLBI capital stock 125 125 125 — — Receivables from affiliates 197 197 — — 197 Liabilities Annuity reserves (1) $ 36,084 $ 44,391 $ — $ — $ 44,391 Reserves for guaranteed investment contracts (2) 894 923 — — 923 Trust instruments supported by funding agreements (2) 5,986 6,175 — — 6,175 FHLB funding agreements (2) 1,950 1,938 — — 1,938 Funds withheld payable under reinsurance treaties 24,533 24,533 537 19,127 4,869 Debt 494 563 — 386 177 Securities lending payable 14 14 — 14 — Repurchase agreements 1,572 1,572 — 1,572 — Separate account liabilities (4) 248,949 248,949 — 248,949 — (1) Annuity reserves represent only the components of other contract holder funds that are considered to be financial instruments. The fair value amounts shown in the table for 2021 have been revised for an immaterial error related to the historical disclosure for annuity reserves not reported at fair value within the Fair Value Measurement note to the Consolidated Financial Statements. The prior period error did not impact the Consolidated Balance Sheets. (2) Included as a component of other contract holder funds on the Consolidated Balance Sheets. (3) Excludes $715 million of limited partnership investments measured at NAV at December 31, 2021. (4) The values of separate account liabilities are set equal to the values of separate account assets.

Deferred Acquisition Costs an_2

Deferred Acquisition Costs and Deferred Sales Inducements (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Deferred Acquisition Costs	The following table presents the impact of the adoption of LDTI, as of the transition date, on deferred acquisition costs (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Deferred acquisition costs $ 13,725 $ 171 $ 13,896 Adjustment for reversal of AOCI adjustments 151 (11) 140 Balance, January 1, 2021 - Deferred acquisition costs $ 13,876 $ 160 $ 14,036 The following table presents the roll-forward of the deferred acquisition costs (in millions). The current period amortization is based on the end of the period estimates of mortality and persistency. The amortization pattern is revised on a prospective basis at the beginning of the period based on the period’s actual experience. Years Ended December 31, 2022 2021 (1) Variable Annuities Balance, beginning of period $ 13,364 $ 13,725 Change in accounting principle — 151 Deferrals of acquisition costs 544 779 Amortization (1,209) (1,291) Variable Annuities balance, end of period $ 12,699 $ 13,364 Reconciliation of total deferred acquisition costs Variable Annuities balance, end of period $ 12,699 $ 13,364 Other product lines, end of period 219 155 Total balance, end of period $ 12,918 $ 13,519 (1) See Note 2 of the Notes to Consolidated Financial Statements for the transition to LDTI impact to the 2021 beginning of period balance for DAC . The following table presents the roll-forward of deferred acquisition costs (in millions) prior to the adoption of LDTI: Year Ended December 31, 2020 Balance, beginning of period $ 12,334 Deferrals of acquisition costs 739 Amortization 534 Unrealized investment (gains) losses 290 Balance, end of period 13,897
Schedule of Deferred Sales Inducements	The balances of and changes in deferred sales inducements, which are reported in other assets, were as follows (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 80 $ 77 Change in accounting principle — 3 Deferrals of sales inducements 4 8 Amortization (8) (8) Balance, end of year 76 80 The balances of and changes in deferred sales inducements, which are reported in other assets, prior to the adoption of LDTI were as follows (in millions): Year Ended December 31, 2020 Balance, beginning of year $ 130 Deferrals of sales inducements 3 Amortization (144) Unrealized investment losses (gains) 88 Balance, end of year 77

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Impact of Athene Transaction	The following table summarizes the impact of the Athene Reinsurance Transaction on the Consolidated Income Statements (in millions): December 31, 2020 Contractual ceding commission $ 1,202 Cost of reinsurance write-off (1) (2,520) DAC and DSI write-off (764) Total pretax loss on Athene Reinsurance Transaction $ (2,082) (1) Cost of reinsurance reflects the net impact of the fair value of assets of $30.1 billion and ceded reserves of $27.6 billion.
Schedule of Components of Reinsurance Recoverable, and Premiums and Benefits	The effect of reinsurance on premiums and benefits was as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): For the Years Ended December 31, 2022 2021 2020 Premiums Direct $ 360 $ 407 $ 336 Assumed 40 42 47 Ceded (291) (327) (226) Total premium $ 109 $ 122 $ 157 Benefits Direct $ 1,687 $ 1,466 $ 1,568 Assumed 868 879 749 Ceded (920) (827) (663) Change in reserves, net of reinsurance (600) (614) (341) Total benefits $ 1,035 $ 949 $ 1,313 Components of the Company’s reinsurance recoverable excluding market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Reserves: Life $ 5,321 $ 5,741 Accident and health 482 712 Other annuity benefits (1) 22,478 25,580 Claims liability and other 795 844 Total $ 29,076 $ 32,877 (1)
Market Risk Benefit, Activity	The following table presents the impact of the adoption of LDTI, as of the transition date, on market risk benefits, net (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 7,306 $ 74 $ 7,380 Adjustment for reversal of AOCI adjustments (27) (48) (75) Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date (743) (6) (749) Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs 3,372 72 3,444 Balance, January 1, 2021 - Market risk benefits, net at fair value $ 9,908 $ 92 $ 10,000 The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable on market risk benefits at fair value (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 340 $ 68 $ 408 Adjustment for reversal of AOCI adjustments — (47) (47) Cumulative difference between 12/31/2020 carrying amount and fair value measurement for the MRBs 28 83 111 Balance, January 1, 2021 - Reinsurance recoverable on market risk benefits at fair value $ 368 $ 104 $ 472 Components of the Company’s reinsurance recoverable on market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Variable annuity $ 183 $ 284 Other product lines 38 99 Total $ 221 $ 383 The following table presents a roll-forward of Closed Block Life additional liabilities for annuitization, death and other insurance benefits (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 1,173 $ 1,185 Beginning of period cumulative effect of changes in shadow adjustments (14) (37) Beginning balance excluding shadow 1,159 1,148 Effect of changes in cash flow assumptions 6 — Effect of actual variances from expected experience 58 57 Issuances — — Interest accrual 56 56 Net assessments collected (107) (102) Effect of changes in discount rate assumptions — — Ending balance excluding shadow 1,172 1,159 End of period cumulative effect of changes in shadow adjustments (41) 14 Balance, end of year $ 1,131 $ 1,173 The following table presents the weighted average duration of Closed Block Life additional liabilities for annuitization, death and other insurance benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: December 31, 2022 2021 Weighted average duration (years) 8.1 7.7 The following table presents assessments and interest expense of Closed Block Life additional liabilities for annuitization, death and other insurance benefits recognized in the Consolidated Income Statements (in millions): Assessments Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Additional liability for annuitization, death and other insurance benefits $ (107) $ (102) $ 56 $ 56 The following table presents the weighted average current discount rate of Closed Block Life additional liabilities for annuitization, death and other insurance benefits, applied at the cohort level weighted by reserve benefit amount: December 31, 2022 2021 Weighted average current discount rate 4.96 % 4.93 % The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value.
Schedule of Sources of Income Related to Funds Withheld Under Reinsurance Treaties	The sources of net investment income were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 1,108 $ 1,063 $ 1,579 Equity securities (25) 8 (4) Mortgage loans 284 319 365 Policy loans 70 73 79 Limited partnerships 74 559 105 Other investment income 44 14 14 Total investment income excluding funds withheld assets 1,555 2,036 2,138 Investment expenses (89) (84) (94) Net investment income excluding funds withheld assets 1,466 1,952 2,044 Net investment income on funds withheld assets (see Note 8) 1,254 1,188 792 Net investment income $ 2,720 $ 3,140 $ 2,836 (1) Includes unrealized gains and losses on securities for which the Company elected the fair value option. The following assets and liabilities were held in support of reserves associated with the Company’s funds withheld reinsurance agreements and were reported in the respective financial statement line items in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Assets Debt securities, available-for-sale $ 13,622 $ 19,094 Debt securities, at fair value under the fair value option 159 164 Equity securities 77 116 Mortgage loans 4,127 4,739 Mortgage loans, at fair value under the fair value option 582 — Policy loans 3,435 3,483 Freestanding derivative instruments, net 78 37 Other invested assets 793 715 Cash and cash equivalents 260 438 Accrued investment income 166 162 Other assets and liabilities, net (73) (56) Total assets (1) $ 23,226 $ 28,892 Liabilities Funds held under reinsurance treaties (2) $ 22,957 $ 29,007 Total liabilities $ 22,957 $ 29,007 (1) Certain assets are reported at amortized cost while the fair value of those assets is reported in the embedded derivative in the funds withheld liability. (2) Includes funds withheld embedded derivative asset (liability) of $3,158 million and $(120) million at December 31, 2022 and 2021, respectively. The sources of income related to funds withheld under reinsurance treaties reported in net investment income in the Consolidated Income Statements were as follows (in millions): Years Ended December 31, 2022 2021 2020 Debt securities (1) $ 680 $ 762 $ 490 Equity securities (34) 5 2 Mortgage loans (2) 231 179 51 Policy loans 312 314 315 Limited partnerships 149 35 — Other investment income 1 — — Total investment income on funds withheld assets 1,339 1,295 858 Other investment expenses on funds withheld assets (3) (85) (107) (66) Total net investment income on funds withheld reinsurance treaties $ 1,254 $ 1,188 $ 792 (1) Includes $(10) million, $(3) million, and $2 million for the years ended December 31, 2022, 2021 and 2020, respectively, related to the change in fair value for securities carried under the fair value option. (2) Includes $(7) million for the year ended December 31, 2022, and nil for the years ended December 31, 2021 and 2020 respectively, related to the change in fair value for mortgage loans carried under the fair value option. (3) Includes management fees.
Schedule of Gains And Losses On Funds Withheld Reinsurance Treaties	The gains and losses on funds withheld reinsurance treaties as a component of net gains (losses) on derivatives and investments in the Consolidated Income Statements were as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Available-for-sale securities Realized gains on sale $ 43 $ 536 $ 2,074 Realized losses on sale (54) (52) (12) Credit loss expense (26) (1) — Gross impairments — — (2) Credit loss expense on mortgage loans 15 23 (47) Other (62) (29) 4 Net gains (losses) on non-derivative investments (84) 477 2,017 Net gains (losses) on derivative instruments 93 58 (228) Net gains (losses) on funds withheld payable under reinsurance treaties (1) 2,177 (556) (1,349) Total net gains (losses) on derivatives and investments $ 2,186 $ (21) $ 440 (1) Includes the Athene Embedded Derivative gain (loss) of $3,278 million, $707 million and $(827) million for the years ended December 31, 2022, 2021 and 2020, respectively.

Reserves for Future Policy Be_2

Reserves for Future Policy Benefits and Claims Payable (Tables)	12 Months Ended
	Dec. 31, 2022
Insurance [Abstract]
Schedule of Reserves for Future Policy Benefits and Claims Payable Balances	The following table summarizes the Company’s reserves for future policy benefits and claims payable balances (in millions): December 31, 2022 2021 Reserves for future policy benefits Payout Annuities $ 1,037 $ 1,246 Closed Block Life 4,161 5,449 Closed Block Annuity 4,434 5,739 Reserves for future policy benefits 9,632 12,434 Additional liabilities Closed Block Life 1,131 1,173 Other future policy benefits and claims payable 1,537 1,570 Reserves for future policy benefits and claims payable $ 12,300 $ 15,177
Balances of and changes in liability for future policy benefits, and Revenue and interest recognized	The following table presents the impact of the adoption of LDTI, as of the transition date, on reserves for future policy benefits and claims payable (in millions): Payout Closed Closed Annuities Block Life Block Annuity Total Reserves for future policy benefits at December 31, 2020 $ 1,143 $ 5,809 $ 5,328 $ 12,280 Adjustment for loss contracts under the modified retrospective approach 4 15 18 37 Effect of remeasurement of liability at current discount rates 143 560 997 1,700 Reserves for future policy benefits at January 1, 2021 $ 1,290 $ 6,384 $ 6,343 $ 14,017 Other future policy benefits and claims payable 2,757 Reserves for future policy benefits and claims payable at January 1, 2021 $ 16,774 The following table presents the transition date reclassifications and adjustments to reserves for future policy benefits by category resulting from the adoption of LDTI (in millions): Reserve for future policy benefits Other (1) Total Reserve for future policy benefits and claims payable at December 31, 2020 $ 12,280 $ 10,210 $ 22,490 Adjustments for LDTI transition 1,737 (7,453) (5,716) Reserve for future policy benefits and claims payable at January 1, 2021 $ 14,017 $ 2,757 $ 16,774 (1) Includes variable annuity embedded derivatives that were reclassed to market risk benefits. The following tables present the roll-forward of components of reserves for future policy benefits (in millions): Present Value of Expected Net Premiums Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ — $ 1,464 $ — $ — $ 1,440 $ — Beginning of period cumulative effect of changes in discount rate assumptions — (157) — — (191) — Beginning balance at original discount rate — 1,307 — — 1,249 — Effect of changes in cash flow assumptions — 242 — — — — Effect of actual variances from expected experience — 1 — — 146 — Balance adjusted for variances from expectation — 1,550 — — 1,395 — Issuances — 6 — — 4 — Interest accrual — 39 — — 48 — Net premiums collected — (147) — — (140) — Ending balance at original discount rate — 1,448 — — 1,307 — End of period cumulative effect of changes in discount rate assumptions — (161) — — 157 — Balance, end of year $ — $ 1,287 $ — $ — $ 1,464 $ — Present Value of Expected Future Policy Benefits Year Ended December 31, Year Ended December 31, 2022 2021 Payout Closed Block Closed Block Payout Closed Block Closed Block Annuities Life Annuity Annuities Life Annuity Balance, beginning of year $ 1,246 $ 6,913 $ 5,739 $ 1,293 $ 7,647 $ 6,343 Beginning of period cumulative effect of changes in discount rate assumptions (84) (349) (689) (144) (660) (997) Beginning balance at original discount rate (including DPL of $38, $0 and $459 in 2022, and, $46, $0 and $452 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,162 6,564 5,050 1,149 6,987 5,346 Effect of changes in cash flow assumptions 4 331 (15) — — — Effect of actual variances from expected experience (38) 38 (34) (53) 193 (3) Balance adjusted for variances from expectation 1,128 6,933 5,001 1,096 7,180 5,343 Issuances 126 14 4 146 12 6 Interest accrual 40 209 210 42 220 222 Benefits payments (126) (750) (506) (122) (848) (521) Ending balance of original discount rate (including DPL of $40, $0 and $671 in 2022, and, $38, $0 and $459 in 2021 for payout annuities, closed block life and closed block annuity, respectively) 1,168 6,406 4,709 1,162 6,564 5,050 End of period cumulative effect of changes in discount rate assumptions (131) (958) (275) 84 349 689 Balance, end of year $ 1,037 $ 5,448 $ 4,434 $ 1,246 $ 6,913 $ 5,739 Reserves for future policy benefits 1,037 4,161 4,434 1,246 5,449 5,739 Less: Reinsurance recoverable 71 2,263 2 51 2,855 2 Reserves for future policy benefits, after reinsurance recoverable $ 966 $ 1,898 $ 4,432 $ 1,195 $ 2,594 $ 5,737 The following table presents the weighted average duration of the reserves for future policy benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: Payout Closed Block Closed Block Annuities Life Annuity December 31, 2022 Weighted average duration (years) 6.9 7.8 7.0 December 31, 2021 Weighted average duration (years) 7.8 9.5 8.5 The following table presents the amount of undiscounted and discounted expected future gross premiums and expected future benefit payments for future policy benefits for non-participating traditional and limited-payment insurance contracts (in millions). The discounted premiums are calculated using the current discount rate, while the undiscounted cash flows represent the gross cash flows before any discounting is applied: December 31, 2022 2021 Undiscounted Discounted Undiscounted Discounted Payout Annuities Expected future benefit payments $ 1,541 $ 999 $ 1,525 $ 1,209 Expected future gross premiums — — — — Closed Block Life Expected future benefit payments 8,751 5,578 8,853 7,050 Expected future gross premiums 5,976 3,489 6,174 4,611 Closed Block Annuity Expected future benefit payments 5,834 3,729 6,799 5,256 Expected future gross premiums $ — $ — $ — $ — The following table presents the amount of revenue and interest related to non-participating traditional and limited-pay insurance contracts recognized in the Consolidated Income Statements (in millions): Gross Premiums Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Payout Annuities $ 10 $ 16 $ 40 $ 42 Closed Block Life 390 433 170 172 Closed Block Annuity — — 210 222 Total $ 400 $ 449 $ 420 $ 436 The following table presents the weighted average interest rate for the reserves for future policy benefits at the cohort's level for the locked-in discount rate (interest accretion rate), and current discount rate, weighted by the cohort's benefit reserve amount: December 31, 2022 2021 Payout Annuities Interest accretion rate 3.71 % 3.63 % Current discount rate 5.40 % 2.58 % Closed Block Life Interest accretion rate 3.01 % 3.10 % Current discount rate 5.34 % 2.63 % Closed Block Annuity Interest accretion rate 4.40 % 4.40 % Current discount rate 5.41 % 2.65 %
Market Risk Benefit, Activity	The following table presents the impact of the adoption of LDTI, as of the transition date, on market risk benefits, net (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 7,306 $ 74 $ 7,380 Adjustment for reversal of AOCI adjustments (27) (48) (75) Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date (743) (6) (749) Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs 3,372 72 3,444 Balance, January 1, 2021 - Market risk benefits, net at fair value $ 9,908 $ 92 $ 10,000 The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable on market risk benefits at fair value (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 340 $ 68 $ 408 Adjustment for reversal of AOCI adjustments — (47) (47) Cumulative difference between 12/31/2020 carrying amount and fair value measurement for the MRBs 28 83 111 Balance, January 1, 2021 - Reinsurance recoverable on market risk benefits at fair value $ 368 $ 104 $ 472 Components of the Company’s reinsurance recoverable on market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Variable annuity $ 183 $ 284 Other product lines 38 99 Total $ 221 $ 383 The following table presents a roll-forward of Closed Block Life additional liabilities for annuitization, death and other insurance benefits (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 1,173 $ 1,185 Beginning of period cumulative effect of changes in shadow adjustments (14) (37) Beginning balance excluding shadow 1,159 1,148 Effect of changes in cash flow assumptions 6 — Effect of actual variances from expected experience 58 57 Issuances — — Interest accrual 56 56 Net assessments collected (107) (102) Effect of changes in discount rate assumptions — — Ending balance excluding shadow 1,172 1,159 End of period cumulative effect of changes in shadow adjustments (41) 14 Balance, end of year $ 1,131 $ 1,173 The following table presents the weighted average duration of Closed Block Life additional liabilities for annuitization, death and other insurance benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: December 31, 2022 2021 Weighted average duration (years) 8.1 7.7 The following table presents assessments and interest expense of Closed Block Life additional liabilities for annuitization, death and other insurance benefits recognized in the Consolidated Income Statements (in millions): Assessments Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Additional liability for annuitization, death and other insurance benefits $ (107) $ (102) $ 56 $ 56 The following table presents the weighted average current discount rate of Closed Block Life additional liabilities for annuitization, death and other insurance benefits, applied at the cohort level weighted by reserve benefit amount: December 31, 2022 2021 Weighted average current discount rate 4.96 % 4.93 % The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value.

Other Contract Holder Funds (Ta

Other Contract Holder Funds (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Policyholder Account Balance And Liability For Unpaid Claims And Claims Adjustment Expense	The following table presents the liabilities for other contract holder funds (in millions): December 31, 2022 2021 Payout Annuity $ 835 $ 830 Variable Annuity 10,259 9,456 Fixed Annuity 11,481 12,947 Fixed Indexed Annuities 11,787 13,161 RILA 1,875 110 Closed Block Life 11,215 11,570 Closed Block Annuity 1,319 1,394 Institutional Products 9,019 8,830 Other Product Lines 190 191 Total other contract holder funds $ 57,980 $ 58,489
Policyholder Account Balance	The following table presents a roll-forward of other contract holder funds, gross of reinsurance (in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 Deposits 213 1,350 275 126 1,811 320 9 4,104 Surrenders, withdrawals and benefits (230) (1,492) (1,988) (1,414) (8) (766) (118) (6,016) Net transfers from (to) separate accounts — 870 — — — — — 870 Investment performance / change in value of equity option — — — (302) (37) — — (339) Interest credited 20 168 382 238 2 659 48 1,517 Policy charges and other 2 (93) (135) (22) (3) (568) (14) (833) Balance as of December 31, 2022 $ 835 $ 10,259 $ 11,481 $ 11,787 $ 1,875 $ 11,215 $ 1,319 $ 48,771 Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity Total Balance as of January 1, 2021 $ 837 $ 10,094 $ 13,751 $ 14,028 $ — $ 11,836 $ 1,456 $ 52,002 Deposits 203 1,490 204 117 108 342 11 2,475 Surrenders, withdrawals and benefits (230) (1,816) (1,295) (1,464) — (699) (120) (5,624) Net transfers from (to) separate accounts — (384) — — — — — (384) Investment performance / change in value of equity option — — — 242 1 — — 243 Interest credited 24 165 395 259 — 669 48 1,560 Policy charges and other (4) (93) (108) (21) 1 (578) (1) (804) Balance as of December 31, 2021 $ 830 $ 9,456 $ 12,947 $ 13,161 $ 110 $ 11,570 $ 1,394 $ 49,468 The following table presents weighted average crediting rate, net amount at risk, and cash surrender value of contract holder account balances (dollars in millions): Fixed Closed Closed Payout Variable Fixed Indexed Block Block Annuity Annuity Annuity Annuities RILA Life Annuity December 31, 2022 Weighted-average crediting rate (1) 2.40 % 1.64 % 3.33 % 2.02 % 0.11 % 5.88 % 3.64 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 17,427 $ — Cash surrender value (3) $ — $ 10,101 $ 11,360 $ 11,409 $ 1,728 $ 7,096 $ 1,319 December 31, 2021 Weighted-average crediting rate (1) 2.89 % 1.74 % 3.05 % 1.97 % — % 5.78 % 3.44 % Net amount at risk (2) $ — $ — $ — $ — $ — $ 18,506 $ — Cash surrender value (3) $ — $ 9,329 $ 12,767 $ 12,432 $ 102 $ 7,367 $ 1,394 (1) Weighted average crediting rate is the average crediting rate weighted by contract holder account balances invested in fixed account funds. (2) Net amount at risk represents the standard excess benefit base for guaranteed death benefits on universal life type products. The net amount at risk associated with market risk benefits are presented within Note 12 of the Notes to Consolidated Financial Statements.
Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following table presents contract holder account balances invested in fixed account funds by range of guaranteed minimum crediting rates and the related range of the difference between rates being credited to other contract holder funds and the respective guaranteed minimums (in millions): December 31, 2022 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 6,679 $ 32 $ 2 $ 75 $ 6,788 1.51%-2.50% 200 — — — 200 Greater than 2.50% 3,271 — — — 3,271 Total $ 10,150 $ 32 $ 2 $ 75 $ 10,259 Fixed Annuities 0.00%-1.50% $ 19 $ 74 $ 93 $ — $ 186 1.51%-2.50% 34 2 1 — 37 Greater than 2.50% 366 63 346 — 775 Total $ 419 $ 139 $ 440 $ — $ 998 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 17 $ 5 $ 40 $ 68 1.51%-2.50% — — — — — Greater than 2.50% 24 — — — 24 Total $ 30 $ 17 $ 5 $ 40 $ 92 RILA 0.00%-1.50% $ 10 $ — $ 7 $ — $ 17 1.51%-2.50% $ — $ — $ — $ — — Greater than 2.50% — — — — — Total $ 10 $ — $ 7 $ — $ 17 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,566 1,868 619 14 7,067 Total $ 4,566 $ 1,868 $ 619 $ 14 $ 7,067 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 980 159 21 — 1,160 Total $ 980 $ 159 $ 22 $ 10 $ 1,171 December 31, 2021 At Guaranteed 1 Basis Point-50 51 Basis Points-150 Greater Than 150 Range of Guaranteed Minimum Crediting Rate Minimum Basis Points Above Basis Points Above Basis Points Above Total Variable Annuities 0.00%-1.50% $ 5,964 $ 34 $ 3 $ — $ 6,001 1.51%-2.50% 206 — — — 206 Greater than 2.50% 3,249 — — — 3,249 Total $ 9,419 $ 34 $ 3 $ — $ 9,456 Fixed Annuities 0.00%-1.50% $ 20 $ 62 $ 77 $ — $ 159 1.51%-2.50% 37 2 2 — 41 Greater than 2.50% 235 66 357 — 658 Total $ 292 $ 130 $ 436 $ — $ 858 Fixed Indexed Annuities 0.00%-1.50% $ 6 $ 20 $ — $ — $ 26 1.51%-2.50% — — — — — Greater than 2.50% 30 — — — 30 Total $ 36 $ 20 $ — $ — $ 56 RILA 0.00%-1.50% $ 1 $ — $ — $ — $ 1 1.51%-2.50% — — — — — Greater than 2.50% — — — — — Total $ 1 $ — $ — $ — $ 1 Closed Block Life 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — — — — Greater than 2.50% 4,764 1,929 640 14 7,347 Total $ 4,764 $ 1,929 $ 640 $ 14 $ 7,347 Closed Block Annuity 0.00%-1.50% $ — $ — $ — $ — $ — 1.51%-2.50% — — 1 10 11 Greater than 2.50% 1,032 171 21 — 1,224 Total $ 1,032 $ 171 $ 22 $ 10 $ 1,235

Separate Account Assets and L_2

Separate Account Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Roll forward of the Separate Account Balance	The following table presents the roll-forward of the separate account balance for variable annuities (in millions): December 31, 2022 2021 Balance as of beginning of year $ 248,469 $ 218,618 Deposits 12,288 17,588 Surrenders, withdrawals and benefits (14,554) (18,272) Net transfer from (to) general account (870) 384 Investment performance (47,150) 32,621 Policy charges and other (2,633) (2,470) Balance as of end of year, gross $ 195,550 $ 248,469 Cash surrender value (1) $ 190,243 $ 242,656 (1) Cash surrender value represents the amount of the contract holder’s account balances distributable at the balance sheet date less applicable surrender charges.
Roll forward of the Separate Account Balance in the Consolidated Balance Sheet	The following table presents the reconciliation of the separate account balance in the Consolidated Balance Sheets (in millions): December 31, 2022 2021 Variable Annuities $ 195,550 $ 248,469 Other Product Lines 356 480 Total $ 195,906 $ 248,949
Schedule of Separate Account Balances	The following table presents aggregate fair value of assets, by major investment asset category, supporting separate accounts (in millions): December 31, 2022 2021 Variable Annuities By Fund Type Equity $ 132,547 $ 171,813 Bond 19,155 24,059 Balanced 40,797 50,534 Money Market 3,051 2,063 Total Variable Annuities 195,550 248,469 Other Product Lines 356 480 Total Separate Accounts $ 195,906 $ 248,949

Market Risk Benefits (Tables)

Market Risk Benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Standards Update 2018-12 [Abstract]
Market Risk Benefit, Activity	The following table presents the impact of the adoption of LDTI, as of the transition date, on market risk benefits, net (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 7,306 $ 74 $ 7,380 Adjustment for reversal of AOCI adjustments (27) (48) (75) Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date (743) (6) (749) Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs 3,372 72 3,444 Balance, January 1, 2021 - Market risk benefits, net at fair value $ 9,908 $ 92 $ 10,000 The following table presents the impact of the adoption of LDTI, as of the transition date, on reinsurance recoverable on market risk benefits at fair value (in millions): Variable Other Annuities Product Lines Total Balance, December 31, 2020 - Carrying amount of MRBs under prior guidance $ 340 $ 68 $ 408 Adjustment for reversal of AOCI adjustments — (47) (47) Cumulative difference between 12/31/2020 carrying amount and fair value measurement for the MRBs 28 83 111 Balance, January 1, 2021 - Reinsurance recoverable on market risk benefits at fair value $ 368 $ 104 $ 472 Components of the Company’s reinsurance recoverable on market risk benefits were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Variable annuity $ 183 $ 284 Other product lines 38 99 Total $ 221 $ 383 The following table presents a roll-forward of Closed Block Life additional liabilities for annuitization, death and other insurance benefits (in millions): Years Ended December 31, 2022 2021 Balance, beginning of year $ 1,173 $ 1,185 Beginning of period cumulative effect of changes in shadow adjustments (14) (37) Beginning balance excluding shadow 1,159 1,148 Effect of changes in cash flow assumptions 6 — Effect of actual variances from expected experience 58 57 Issuances — — Interest accrual 56 56 Net assessments collected (107) (102) Effect of changes in discount rate assumptions — — Ending balance excluding shadow 1,172 1,159 End of period cumulative effect of changes in shadow adjustments (41) 14 Balance, end of year $ 1,131 $ 1,173 The following table presents the weighted average duration of Closed Block Life additional liabilities for annuitization, death and other insurance benefits. The weighted average duration represents average cohort-level duration weighted by the benefit reserves amount: December 31, 2022 2021 Weighted average duration (years) 8.1 7.7 The following table presents assessments and interest expense of Closed Block Life additional liabilities for annuitization, death and other insurance benefits recognized in the Consolidated Income Statements (in millions): Assessments Interest Expense Years Ended December 31, Years Ended December 31, 2022 2021 2022 2021 Additional liability for annuitization, death and other insurance benefits $ (107) $ (102) $ 56 $ 56 The following table presents the weighted average current discount rate of Closed Block Life additional liabilities for annuitization, death and other insurance benefits, applied at the cohort level weighted by reserve benefit amount: December 31, 2022 2021 Weighted average current discount rate 4.96 % 4.93 % The following table presents the reconciliation of the market risk benefits balance in the Consolidated Balance Sheets (in millions): December 31, 2022 December 31, 2021 Variable Other Variable Other Annuities Product Lines Total Annuities Product Lines Total Market risk benefit - (assets) $ (4,856) $ (9) $ (4,865) $ (1,658) $ (6) $ (1,664) Market risk benefit - liabilities 5,623 39 5,662 7,939 94 8,033 Market risk benefit - net liabilities $ 767 $ 30 $ 797 $ 6,281 $ 88 $ 6,369 The following table presents the roll-forward of the net (assets) liabilities of the market risk benefits for variable annuities (in millions): Years Ended December 31, 2022 2021 Net liability balance, beginning of year $ 6,281 $ 9,908 Net liability beginning of year cumulative effect of changes in non-performance risk 326 743 Net liability balance, beginning of year, before effect of changes in non-performance risk 6,607 10,651 Effect of changes in interest rates (14,137) (3,193) Effect of fund performance 6,432 (2,388) Effect of changes in equity index volatility 1,576 (45) Effect of expected policyholder behavior 532 412 Effect of actual policyholder behavior different from expected (230) (747) Effect of time 1,707 1,901 Effect of changes in assumptions 465 16 Net liability balance, end of year, before effect of changes in non-performance risk 2,952 6,607 Net liability end of year cumulative effect of changes in non-performance risk (2,185) (326) Net liability balance, end of year, gross 767 6,281 Reinsurance recoverable on market risk benefits at fair value, end of year (183) (284) Net liability balance, end of year, net of reinsurance 584 5,997 Weighted average attained age (years) (1) 69 68 Net amount at risk (2) $ 15,592 $ 3,404 (1) Weighted-average attained age is defined as the average age of policyholders weighted by account value. (2) Net amount at risk (NAR) is defined as of the valuation date for each contract as the greater of Death Benefit NAR (DBNAR) and Living Benefit NAR (LBNAR), as applicable, where DBNAR is the GMDB benefit base in excess of the account value, and the LBNAR is the actuarial present value of guaranteed living benefits in excess of the account value.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Aggregate Carrying Value of Long-Term Debt	The aggregate carrying value of long-term debt was as follows (in millions): December 31, 2022 2021 Long-Term Debt Surplus notes $ 408 $ 427 FHLBI bank loans 62 67 Total long-term debt $ 470 $ 494

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of the Provision for Income Taxes	The components of the provision for federal, state and local income taxes were as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Current tax expense (benefit) Federal $ (43) $ (78) $ (67) State and local 1 (3) 2 Total current tax expense (benefit) (42) (81) (65) Deferred tax expense (benefit) Federal 1,513 736 (703) State and local 59 25 (73) Total deferred tax expense (benefit) 1,572 761 (776) Total income taxes $ 1,530 $ 680 $ (841)
Schedule of Effective Income Tax Rate Reconciliation	The federal income tax provisions differ from the amounts determined by multiplying pretax income attributable to the Company by the statutory federal income tax rate of 21% were as follows (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Income taxes at statutory rate $ 1,645 $ 872 $ (503) State income taxes (1) 48 18 (56) Dividends received deduction (142) (146) (158) U.S. federal tax reform impact (2) — — (16) Foreign and other tax credits (3) (24) (46) (61) Prior year deferred tax benefit — — (53) Other (4) 3 (18) 6 Income tax (benefit) expense $ 1,530 $ 680 $ (841) Effective tax rate 19.5 % 16.3 % 35.1 % (1) For the year ended December 31, 2020, includes a benefit of $33 million relating to prior periods. (2) For the year ended December 31, 2020, the benefit is the result of the CARES Act. (3) For the years ended December 31, 2022, 2021 and 2020, this primarily represents the benefit from foreign tax credits generated by the fund investments of the variable life and annuity contracts.
Schedule of Deferred Tax Assets and Liabilities	The tax effects of significant temporary differences that gave rise to deferred tax assets and liabilities were as follows (in millions, recast for the adoption of LDTI): December 31, 2022 2021 Gross deferred tax asset Difference between financial reporting and the tax basis of: Policy reserves and other insurance items $ 1,647 $ 3,306 Employee benefits 135 151 Derivative investments 789 1,129 Net unrealized losses 1,359 — Net operating loss carryforward 547 284 Other 73 11 Total gross deferred tax asset 4,550 4,881 Valuation allowance (900) — Gross deferred tax asset, net of valuation allowance $ 3,650 $ 4,881 Gross deferred tax liability Difference between financial reporting and the tax basis of: Deferred acquisition costs and sales inducements $ (2,584) $ (2,701) Other investment items (789) (22) Net unrealized gains — (469) Other (29) (18) Total gross deferred tax liability (3,402) (3,210) Net deferred tax asset $ 248 $ 1,671
Schedule of Operating Loss Carryforwards	The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,377 $ 1,178 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 347 158 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 2,911 $ 1,479 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $124 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10-year carryforward. (5) Subject to Section 383 limitations.
Schedule of Tax Credit Carryforwards	The following table sets forth the amount and expiration dates of federal and state operating, capital loss and tax credit carryforwards for tax periods indicated. Included in the table is a Section 382 loss carryforward attributable to a previous acquisition. Section 382 of the Internal Revenue Code imposes limitations on the utilization of net operating loss carryforwards. The Section 382 limitation is an annual limitation on the amount of pre-acquisition net operating losses that a corporation may use to offset post-acquisition income. Section 382 further limits certain unrealized built-in losses at the time of acquisition. December 31, 2022 2021 Federal net operating and capital loss carryforwards (1) $ 2,377 $ 1,178 Section 382 net operating loss from previous acquisition (2) 137 137 State net operating and capital loss carryforwards (3) 347 158 Foreign Tax Credit (4) 44 — Alternative Minimum Credit (5) 6 6 Total $ 2,911 $ 1,479 (1) Unlimited carryforward (2) Begins to expire in 2026 with annual limitation of approximately $21 million. (3) For the year ended December 31, 2022, includes $124 million with expiration of 0-20 years, and with $223 million unlimited carryforward. (4) 10-year carryforward. (5) Subject to Section 383 limitations.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Components of Operating Lease Costs and Other Information Related to Operating Leases	The following table summarizes the components of operating lease costs and other information related to operating leases recorded within operating costs and other expenses, net of deferrals, (in millions): Years Ended December 31, 2022 2021 2020 Lease Cost: Operating leases (1) $ 6 $ 7 $ 11 Variable lease costs 2 2 2 Sublease income (3) (4) (5) Net Lease Cost $ 5 $ 5 $ 8 Other Information: Cash paid for amounts included in the measurement of operating lease liability $ 6 $ 7 $ 10 Weighted average lease term 5 years 5 years 6 years Weighted average discount rate 3.7 % 3.6 % 3.6 % (1) Operating lease costs exclude software leases, as intangible assets are excluded from the scope of Accounting Standard Codification 842, Leases.
Maturities of Operating Lease Liabilities	At December 31, 2022, the maturities of operating lease liabilities were as follows (in millions): 2023 $ 6 2024 5 2025 3 2026 3 2027 1 Thereafter 2 Total $ 20 Less: interest 2 Present value of lease liabilities $ 18

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Outstanding Non-Vested RSUs	Outstanding non-vested liability classified RSUs granted to associates were as follows: Year Ended December 31, 2022 Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,568,395 $ 26.09 Granted (1) 919,084 $ 38.71 Vested (680,089) $ 26.93 Forfeited (75,859) $ 28.48 Non-vested at end of period 1,731,531 $ 32.77 Year Ended December 31, 2021 Cash-Settled RSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period — $ — Granted (1) 1,338,880 $ 26.57 Vested — $ — Forfeited (5,177) $ 26.41 Re-issuance due to modification 234,692 $ 26.41 Non-vested at end of period 1,568,395 $ 26.09
Outstanding Non-Vested PSUs	Outstanding non-vested liability classified PSUs granted were as follows: Year Ended December 31, 2022 Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period 1,519,122 $ 26.56 Granted (1) 217,270 $ 37.81 Vested (525,143) $ 26.63 Forfeited (81,196) $ 26.76 Non-vested at end of period 1,130,053 $ 28.67 (1) Includes dividend equivalents granted in the current period on awards outstanding Year Ended December 31, 2021 Cash-Settled PSUs Weighted-Average Grant Date Fair Value per Share Non-vested at beginning of period — $ — Granted (1) 219,139 $ 27.44 Vested — $ — Forfeited (3,087) $ 26.41 Re-issuance due to modification 1,303,070 $ 26.41 Non-vested at end of period 1,519,122 $ 26.56 (1) Includes dividend equivalents granted in the current period on awards outstanding
Expense Related to Share-Based Plans	Total expense related to these share-based plans was as follows (in millions): For the Years Ended December 31, 2022 2021 2020 Compensation expense recognized $ 118 $ 97 $ 44 Income tax benefit recognized $ 23 $ 19 $ 9

Operating Costs and Other Exp_2

Operating Costs and Other Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Costs And Other Expenses [Abstract]
Summary of Operating Costs and Other Expenses	The following table is a summary of the Company’s operating costs and other expenses (in millions): Years Ended December 31, 2022 2021 2020 Asset-based commission expenses $ 1,010 $ 1,126 $ 907 Other commission expenses 846 1,042 1,020 Deferral of acquisition costs (628) (796) (735) Sub-advisor expenses 337 400 336 General and administrative expenses 768 917 874 Athene ceding commission (1) — — (1,202) Total operating costs and other expenses $ 2,333 $ 2,689 $ 1,200 (1) See Note 8 of the Notes to Consolidated Financial Statements for further information.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income	The following table represents changes in the balance of accumulated other comprehensive income (loss) ("AOCI"), net of income tax, related to unrealized investment gains (losses) (in millions, recast for the adoption of LDTI for 2022 and 2021): Years Ended December 31, 2022 2021 2020 Balance, beginning of period (1) $ 1,504 $ 3,960 $ 2,539 Change in accounting principle, net of tax — (391) — Other comprehensive income (loss): Change in unrealized gains (losses) of investments (8,253) (1,821) 2,589 Change in current discount rate - reserve for future policy benefits (2) 1,664 507 — Change in non-performance risk on market risk benefits 1,875 (424) — Change in unrealized gains (losses) - other 37 38 133 Change in deferred tax asset 111 370 (601) Other comprehensive income (loss) before reclassifications (4,566) (1,330) 2,121 Reclassifications from AOCI, net of tax (138) (735) (700) Other comprehensive income (loss) (4,704) (2,065) 1,421 Balance, end of period (1) $ (3,200) $ 1,504 $ 3,960 Includes $(2,106) million and $287 million related to the investments held within the funds withheld account related to the Athene Reinsurance Transaction as of December 31, 2022 and December 31, 2021, respectively. (1) Represents the impact of changes in the discount rate used in the remeasurement of our direct reserves for future policy benefits and claims payable, net of the remeasurement of ceded reserves for future policy benefits and claims payable.
Schedule of Amounts Reclassified Out of AOCI	The following table represents amounts reclassified out of AOCI (in millions, recast for the adoption of LDTI for 2022 and 2021): AOCI Components Amounts Affected Line Item in the Years Ended December 31, 2022 2021 2020 Net unrealized investment gain (loss): Net realized gain (loss) on investments $ (175) $ (929) $ (1,142) Net gains (losses) on derivatives and investments Other impaired securities — (9) 10 Net gains (losses) on derivatives and investments Net unrealized gain (loss) (175) (938) (1,132) Amortization of deferred acquisition costs — — 246 Reclassifications, before income taxes (175) (938) (886) Income tax expense (benefit) (37) (203) (186) Reclassifications, net of income taxes $ (138) $ (735) $ (700)

Revision and Reclassification_2

Revision and Reclassifications of Prior Period Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The following table presents amounts previously reported as of December 31, 2020, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of January 1, 2021 (in millions). As Previously Effect of As of Reported Changes 1/1/2021 Assets Deferred acquisition costs $ 13,896 $ 140 $ 14,036 Reinsurance recoverable, net of allowance for credit losses 35,311 (155) 35,156 Reinsurance recoverable on market risk benefits, at fair value — 472 472 Market risk benefit assets, at fair value — 690 690 Deferred income taxes, net 1,036 824 1,860 Other assets 861 1 862 Total assets $ 351,538 $ 1,972 $ 353,510 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 22,490 $ (5,716) $ 16,774 Other contract holder funds 63,349 (7) 63,342 Market risk benefit liabilities, at fair value — 10,690 10,690 Total liabilities 342,051 4,967 347,018 Equity Accumulated other comprehensive income, net of tax expense 3,960 (391) 3,569 Retained earnings 921 (2,604) (1,683) Total shareholder's equity 9,487 (2,995) 6,492 Total liabilities and equity $ 351,538 $ 1,972 $ 353,510 The following tables present amounts previously reported in the Consolidated Balance Sheets as of December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts as of December 31, 2022 and 2021 (in millions). As Previously Reported Effect of As of December 31, 2022 Changes December 31, 2022 Assets Deferred acquisition costs $ 13,407 $ (489) $ 12,918 Reinsurance recoverable, net of allowance for credit losses 29,670 (594) 29,076 Reinsurance recoverable on market risk benefits, at fair value — 221 221 Market risk benefit assets, at fair value — 4,865 4,865 Deferred income taxes, net 315 (67) 248 Other assets 734 (3) 731 Total assets $ 307,089 $ 3,933 $ 311,022 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 14,255 $ (1,955) $ 12,300 Other contract holder funds 57,986 (6) 57,980 Market risk benefit liabilities, at fair value — 5,662 5,662 Other liabilities 1,668 (1) 1,667 Total liabilities 297,041 3,700 300,741 Equity Accumulated other comprehensive income (loss), net of tax (5,311) 2,111 (3,200) Retained earnings 9,981 (1,878) 8,103 Total shareholder's equity 10,048 233 10,281 Total liabilities and equity $ 307,089 $ 3,933 $ 311,022 As Previously Reported Effect of As of December 31, 2021 Changes December 31, 2021 Assets Investments: Deferred acquisition costs $ 14,246 $ (727) $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 383 Market risk benefit assets, at fair value — 1,664 1,664 Deferred income taxes, net 909 762 1,671 Other assets 652 4 656 Total assets $ 372,120 $ 1,794 $ 373,914 Liabilities and Equity Liabilities Reserves for future policy benefits and claims payable $ 18,654 $ (3,477) $ 15,177 Other contract holder funds 58,494 (5) 58,489 Market risk benefit liabilities, at fair value — 8,033 8,033 Other liabilities 1,946 (1) 1,945 Total liabilities 360,084 4,550 364,634 Equity Accumulated other comprehensive income (loss), net of tax 1,890 (386) 1,504 Retained earnings 4,168 (2,370) 1,798 Total shareholder's equity 12,036 (2,756) 9,280 Total liabilities and equity $ 372,120 $ 1,794 $ 373,914 The following tables present amounts previously reported in the Consolidated Income Statements for the years ended December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts for the years ended December 31, 2022 and 2021 (in millions). As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Revenues Total net gains (losses) on derivatives and investments $ 3,856 $ (4,688) $ (832) Total revenues 14,440 (4,688) 9,752 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 2,263 (1,228) 1,035 (Gain) loss from updating future policy benefits cash flow assumptions, net — (36) (36) Market risk benefits (gains) losses, net — (3,536) (3,536) Interest credited on other contract holder funds, net of deferrals and amortization 855 4 859 Amortization of deferred acquisition costs 1,743 (518) 1,225 Total benefits and expenses 7,231 (5,314) 1,917 Pretax income (loss) 7,209 626 7,835 Income tax expense (benefit) 1,396 134 1,530 Net income (loss) 5,813 492 6,305 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Revenues Total net gains (losses) on derivatives and investments $ (2,480) $ (2,887) $ (5,367) Total revenues 8,869 (2,887) 5,982 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 949 (45) 904 (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 41 Market risk benefits (gains) losses, net — (3,966) (3,966) Interest credited on other contract holder funds, net of deferrals and amortization 827 (2) 825 Amortization of deferred acquisition costs 519 786 1,305 Total benefits and expenses 5,006 (3,186) 1,820 Pretax income (loss) 3,863 299 4,162 Income tax expense (benefit) 616 64 680 Net income (loss) 3,247 235 3,482 The following tables present amounts previously reported in Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2022 and 2021, to reflect the effect of the change due to the adoption of the standard, and the adjusted amounts for the years ended December 31, 2022 and 2021 (in millions). As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Net income (loss) $ 5,813 $ 492 $ 6,305 Other comprehensive income (loss), net of tax: Change in unrealized gains (losses) on securities with no credit impairment net of tax (7,199) (274) (7,473) Change in current discount rate related to reserve for future policy benefits, net of tax — 1,303 1,303 Change in non-performance risk on market risk benefits, net of tax — 1,468 1,468 Total other comprehensive income (loss) (7,201) 2,497 (4,704) Comprehensive income (loss) $ (1,388) $ 2,989 $ 1,601 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Net income (loss) $ 3,247 $ 235 $ 3,482 Other comprehensive income (loss), net of tax: Change in unrealized gains (losses) on securities with no credit impairment net of tax (2,073) (60) (2,133) Change in current discount rate related to reserve for future policy benefits, net of tax — 397 397 Change in non-performance risk on market risk benefits, net of tax — (332) (332) Total other comprehensive income (loss) (2,070) 5 (2,065) Comprehensive income (loss) $ 1,177 $ 240 $ 1,417 The adoption of the standard did not affect the previously reported totals for net cash flows provided by (used in) operating, investing, or financing activities, but did affect the following components of net cash flows provided by (used in) operating activities. As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2022 Changes 2022 Cash flows from operating activities: Net income $ 5,813 $ 492 $ 6,305 Adjustments to reconcile net income to net cash provided by operating activities: Net losses (gains) on derivatives (2,025) 4,688 2,663 Net (gain) loss on market risk benefits — (3,536) (3,536) (Gain) loss from updating future policy benefits cash flow assumptions, net — (36) (36) Interest credited on other contract holder funds, gross 855 4 859 Deferred income tax expense (benefit) 1,438 134 1,572 Change in deferred acquisition costs 1,119 (518) 601 Change in funds withheld, net of reinsurance (402) 329 (73) Change in other assets and liabilities, net 84 (1,557) (1,473) Total adjustments 1,069 (492) 577 Net cash provided by (used in) operating activities $ 4,647 $ — $ 4,647 As Previously Reported for the Year Ended Year Ended December 31, Effect of December 31, 2021 Changes 2021 Cash flows from operating activities: Net income $ 3,247 $ 235 $ 3,482 Adjustments to reconcile net income to net cash provided by operating activities: Net losses (gains) on derivatives 2,640 2,887 5,527 Net (gain) loss on market risk benefits — (3,966) (3,966) (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 41 Interest credited on other contract holder funds, gross 827 (2) 825 Deferred income tax expense (benefit) 697 64 761 Change in deferred acquisition costs (270) 787 517 Change in funds withheld, net of reinsurance (757) 131 (626) Change in other assets and liabilities, net (993) (177) (1,170) Total adjustments 2,144 (235) 1,909 Net cash provided by (used in) operating activities $ 4,888 $ — $ 4,888 Consolidated Balance Sheets (in millions) As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised 12/31/21 12/31/21 12/31/21 12/31/21 Assets Deferred acquisition costs $ 14,246 $ (727) $ — $ 13,519 Reinsurance recoverable, net of allowance for credit losses 33,169 (292) — 32,877 Reinsurance recoverable on market risk benefits, at fair value — 383 — 383 Market risk benefit assets, at fair value — 1,664 — 1,664 Deferred income taxes, net 909 762 — 1,671 Other assets 577 4 75 656 Total assets 372,045 1,794 75 373,914 Liabilities Reserves for future policy benefits and claims payable 17,617 (3,477) 1,037 15,177 Other contract holder funds 59,456 (5) (962) 58,489 Market risk benefit liabilities, at fair value — 8,033 — 8,033 Other liabilities 1,946 (1) — 1,945 Total liabilities 360,009 4,550 75 364,634 Equity Accumulated other comprehensive income, net of tax expense 1,890 (386) — 1,504 Retained earnings 4,168 (2,370) — 1,798 Total Equity 12,036 (2,756) — 9,280 Total liabilities and equity $ 372,045 $ 1,794 $ 75 $ 373,914 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/21 12/31/21 12/31/21 12/31/21 Revenues Fee income $ 7,594 $ — $ 400 $ 7,994 Premium 107 — 15 122 Net investment income 3,086 — 54 3,140 Total net gains (losses) on derivatives and investments (2,480) (2,887) — (5,367) Total revenues 8,400 (2,887) 469 5,982 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 892 (45) 57 904 (Gain) loss from updating future policy benefits cash flow assumptions, net — 41 — 41 Market risk benefits (gains) losses, net — (3,966) — (3,966) Interest credited on other contract holder funds, net of deferrals and amortization 861 (2) (34) 825 Operating costs and other expenses, net of deferrals 2,242 — 447 2,689 Amortization of deferred acquisition costs 520 786 (1) 1,305 Total benefits and expenses 4,537 (3,186) 469 1,820 Pretax income (loss) 3,863 299 $ — 4,162 Income tax (benefit) expense 616 64 — 680 Net income (loss) $ 3,247 $ 235 $ — $ 3,482 Consolidated Income Statements As Previously Reported Impact for the Adoption of LDTI Impact of Revisions As Revised Year Ended Year Ended Year Ended Year Ended 12/31/20 12/31/20 12/31/20 12/31/20 Revenues Fee income $ 6,504 $ — $ 336 $ 6,840 Premium 130 — 27 157 Net investment income 2,781 — 55 2,836 Total revenues 3,025 — 418 3,443 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 1,235 — 78 1,313 Interest credited on other contract holder funds, net of deferrals and amortization 1,202 — 91 1,293 Operating costs and other expenses, net of deferrals 807 — 393 1,200 Amortization of deferred acquisition costs (390) — (144) (534) Total benefits and expenses 5,418 — 418 5,836 Net income (loss) $ (1,552) $ — $ — $ (1,552)

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following table contains quarterly financial information recast for the years ended December 31, 2022 and 2021 (in millions): Three Months Ended March 31, June 30, September 30, December 31, 2022 2021 2022 2021 2022 2021 2022 2021 Revenues Fee income $ 1,997 $ 1,890 $ 1,920 $ 1,976 $ 1,893 $ 2,047 $ 1,861 $ 2,081 Premiums 31 31 26 31 30 30 22 30 Net investment income: Net investment income excluding funds withheld assets 398 537 355 450 335 472 378 493 Net investment income on funds withheld assets 260 291 364 294 313 299 317 304 Total net investment income 658 828 719 744 648 771 695 797 Net gains (losses) on derivatives and investments: Net gains (losses) on derivatives and investments (1,566) (2,839) 2,940 (388) (194) (421) (4,198) (1,698) Net gains (losses) on funds withheld reinsurance treaties 1,028 898 1,077 (768) 555 (115) (474) (36) Total net gains (losses) on derivatives and investments (538) (1,941) 4,017 (1,156) 361 (536) (4,672) (1,734) Other income 20 23 20 31 19 17 25 22 Total revenues 2,168 831 6,702 1,626 2,951 2,329 (2,069) 1,196 Benefits and Expenses Death, other policy benefits and change in policy reserves, net of deferrals 288 255 261 214 240 280 246 155 (Gain) loss from updating future policy benefits cash flow assumptions, net 15 48 14 6 (39) (15) (26) 2 Market risk benefits (gains) losses, net (1,907) (6,522) 1,184 1,512 (913) 1,066 (1,900) (22) Interest credited on other contract holder funds, net of deferrals and amortization 195 212 206 207 223 205 235 201 Interest expense 5 6 6 7 8 4 18 5 Operating costs and other expenses, net of deferrals 631 631 532 655 568 666 602 737 Amortization of deferred acquisition costs 316 331 308 328 304 327 297 319 Total benefits and expenses (457) (5,039) 2,511 2,929 391 2,533 (528) 1,397 Pretax income (loss) 2,625 5,870 4,191 (1,303) 2,560 (204) (1,541) (201) Income tax expense (benefit) 395 1,118 854 (246) 661 (98) (380) (94) Net income (loss) 2,230 4,752 3,337 (1,057) 1,899 (106) (1,161) (107)

Business and Basis of Present_2

Business and Basis of Presentation (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Jun. 18, 2020	Aug. 31, 2020	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Reinsurance agreement, ceding commission				$ 1,202
Jackson
Class of Stock [Line Items]
Capital contribution to subsidiary		$ 500
Jackson Financial | Athene
Class of Stock [Line Items]
Ownership interest	9.90%		1.90%
Investment agreement, committed capital	$ 500
Economic ownership percentage	11.10%
Jackson Financial | Prudential
Class of Stock [Line Items]
Ownership interest			9.20%
Athene
Class of Stock [Line Items]
Reinsurance quota share basis	100%		100%
Reinsurance agreement, ceding commission	$ 1,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2022 USD ($)		Dec. 31, 2021 USD ($)		Dec. 31, 2020 USD ($)	Jan. 01, 2023 USD ($)	Jan. 01, 2022 USD ($)	Jan. 01, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity standard to result in a decrease	[1]	$ 10,281,000		$ 9,280,000
Accumulated other comprehensive income (loss)		(3,200,000)	[1]	1,504,000	[1]		$ (3,200,000)	$ 1,504,000	$ 3,569,000
Retained earnings		8,103,000	[1]	1,798,000	[1]		8,103,000	1,798,000	(1,683,000)
Net income (loss) attributable to Jackson Financial Inc.		6,305,000		3,482,000		$ (1,552,000)
Equity							$ 10,281,000	$ 9,280,000	6,492,000
As Revised
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity standard to result in a decrease									3,000,000
Accumulated other comprehensive income (loss)				1,504,000					(400,000)
Retained earnings				1,798,000					$ (2,600,000)
Equity				9,280,000
Jackson Financial | As Revised
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity		$ 233,000		$ (2,756,000)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefits, measurement input		0.025
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefits, measurement input		0.060
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Effect of Transition of Shareholders' Equity (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022	[1]	Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	$ 10,281,000			$ 9,280,000			$ 6,492,000
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		$ 8,103,000			$ 1,798,000	[1]		$ 921,000	$ 2,528,000
Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity		$ (3,200,000)			1,504,000	[1]		$ 3,960,000	$ 2,539,000
Deferred acquisition costs | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							0
Deferred acquisition costs | Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							102,000
Reinsurance recoverable on market risk benefits | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							0
Reinsurance recoverable on market risk benefits | Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							(35,000)
Reserves for future policy benefits and claims payable | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							97,000
Reserves for future policy benefits and claims payable | Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							143,000
Market risk benefits | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							(2,701,000)
Market risk benefits | Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							(601,000)
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity	$ 10,048,000			$ 12,036,000	$ 12,036,000		9,487,000
As Previously Reported | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							(2,604,000)
As Previously Reported | Accumulated Other Comprehensive Income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total equity							$ (391,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Effect of Adoption, Balance Sheet (Details) - USD ($)	Jan. 01, 2023	Dec. 31, 2022	[1]	Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Deferred acquisition costs	$ 12,918,000,000	$ 12,918,000,000		$ 13,519,000,000	$ 13,519,000,000	[1]	$ 14,036,000,000	$ 13,897,000,000	$ 12,334,000,000
Reinsurance recoverable on market risk benefits	29,076,000,000	29,076,000,000		32,877,000,000	32,877,000,000	[1]	35,156,000,000
Reinsurance recoverable on market risk benefits, at fair value	221,000,000	221,000,000		383,000,000	383,000,000	[1]	472,000,000
Market risk benefit - (assets)	4,865,000,000	4,865,000,000		1,664,000,000	1,664,000,000	[1]	690,000,000
Deferred income taxes, net	248,000,000	248,000,000		1,671,000,000	1,671,000,000	[1]	1,860,000,000
Other assets	731,000,000	731,000,000		656,000,000	656,000,000	[1]	862,000,000
Total assets	311,022,000,000	311,022,000,000		373,914,000,000	373,914,000,000	[1]	353,510,000,000
Liabilities
Reserves for future policy benefits and claims payable	12,300,000,000	12,300,000,000		15,177,000,000	15,177,000,000	[1]	16,774,000,000
Other contract holder funds	57,980,000,000	57,980,000,000		58,489,000,000	58,489,000,000	[1]	63,342,000,000
Market risk benefit - liabilities	5,662,000,000	5,662,000,000		8,033,000,000	8,033,000,000	[1]	10,690,000,000
Other liabilities	1,667,000,000	1,667,000,000		1,945,000,000	1,945,000,000	[1]
Total liabilities	300,741,000,000	300,741,000,000		364,634,000,000	364,634,000,000	[1]	347,018,000,000
Equity
Accumulated other comprehensive income (loss)	(3,200,000,000)	(3,200,000,000)		1,504,000,000	1,504,000,000	[1]	3,569,000,000
Retained earnings	8,103,000,000	8,103,000,000		1,798,000,000	1,798,000,000	[1]	(1,683,000,000)
Total equity	10,281,000,000			9,280,000,000			6,492,000,000
Total liabilities and equity	311,022,000,000	$ 311,022,000,000		373,914,000,000	373,914,000,000	[1]	353,510,000,000
As Previously Reported
Assets
Deferred acquisition costs	13,407,000,000			14,246,000,000	14,246,000,000		13,896,000,000
Reinsurance recoverable on market risk benefits	29,670,000,000			33,169,000,000	33,169,000,000		35,311,000,000
Reinsurance recoverable on market risk benefits, at fair value	0			0	0		0	$ 408,000,000
Market risk benefit - (assets)	0			0	0		0
Deferred income taxes, net	315,000,000			909,000,000	909,000,000		1,036,000,000
Other assets	734,000,000			652,000,000	577,000,000		861,000,000
Total assets	307,089,000,000			372,120,000,000	372,045,000,000		351,538,000,000
Liabilities
Reserves for future policy benefits and claims payable	14,255,000,000			18,654,000,000	17,617,000,000		22,490,000,000
Other contract holder funds	57,986,000,000			58,494,000,000	59,456,000,000		63,349,000,000
Market risk benefit - liabilities	0			0	0		0
Other liabilities	1,668,000,000			1,946,000,000	1,946,000,000
Total liabilities	297,041,000,000			360,084,000,000	360,009,000,000		342,051,000,000
Equity
Accumulated other comprehensive income (loss)	(5,311,000,000)			1,890,000,000	1,890,000,000		3,960,000,000
Retained earnings	9,981,000,000			4,168,000,000	4,168,000,000		921,000,000
Total equity	10,048,000,000			12,036,000,000	12,036,000,000		9,487,000,000
Total liabilities and equity	307,089,000,000			372,120,000,000	372,045,000,000		351,538,000,000
Effect of Changes
Assets
Deferred acquisition costs	(489,000,000)			(727,000,000)	(727,000,000)		140,000,000
Reinsurance recoverable on market risk benefits	(594,000,000)			(292,000,000)	(292,000,000)		(155,000,000)
Reinsurance recoverable on market risk benefits, at fair value	221,000,000			383,000,000	383,000,000		472,000,000
Market risk benefit - (assets)	4,865,000,000			1,664,000,000	1,664,000,000		690,000,000
Deferred income taxes, net	(67,000,000)			762,000,000	762,000,000		824,000,000
Other assets	(3,000,000)			4,000,000	4,000,000		1,000,000
Total assets	3,933,000,000			1,794,000,000	1,794,000,000		1,972,000,000
Liabilities
Reserves for future policy benefits and claims payable	(1,955,000,000)			(3,477,000,000)	(3,477,000,000)		(5,716,000,000)
Other contract holder funds	(6,000,000)			(5,000,000)	(5,000,000)		(7,000,000)
Market risk benefit - liabilities	5,662,000,000			8,033,000,000	8,033,000,000		10,690,000,000
Other liabilities	(1,000,000)			(1,000,000)	(1,000,000)
Total liabilities	3,700,000,000			4,550,000,000	4,550,000,000		4,967,000,000
Equity
Accumulated other comprehensive income (loss)	2,111,000,000			(386,000,000)	(386,000,000)		(391,000,000)
Retained earnings	(1,878,000,000)			(2,370,000,000)	(2,370,000,000)		(2,604,000,000)
Total equity	233,000,000			(2,756,000,000)	(2,756,000,000)		(2,995,000,000)
Total liabilities and equity	$ 3,933,000,000			$ 1,794,000,000	$ 1,794,000,000		$ 1,972,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Effect of Adoption, Reserves For Future Policy Benefits and Claims Payable (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			$ 14,017,000,000
Reserves for future policy benefits and claims payable at January 1, 2021				$ 16,774,000,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			12,280,000,000
Other future policy benefits and claims payable			2,757,000,000
Reserves for future policy benefits and claims payable at January 1, 2021			16,774,000,000	22,490,000,000
Adjustment for loss contracts under the modified retrospective approach
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			37,000,000
Effect of remeasurement of liability at current discount rates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			1,700,000,000
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				(5,716,000,000)
Payout Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			1,290,000,000
Effect of changes in cash flow assumptions		$ 4,000,000		0
Reserves for future policy benefits and claims payable at January 1, 2021	$ 966,000,000	1,195,000,000
Payout Annuity | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			1,143,000,000
Payout Annuity | Adjustment for loss contracts under the modified retrospective approach
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			4,000,000
Payout Annuity | Effect of remeasurement of liability at current discount rates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			143,000,000
Closed Block Life
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			6,384,000,000
Effect of changes in cash flow assumptions		331,000,000		0
Reserves for future policy benefits and claims payable at January 1, 2021	1,898,000,000	2,594,000,000
Closed Block Life | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			5,809,000,000
Closed Block Life | Adjustment for loss contracts under the modified retrospective approach
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			15,000,000
Closed Block Life | Effect of remeasurement of liability at current discount rates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			560,000,000
Closed Block Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			6,343,000,000
Effect of changes in cash flow assumptions		(15,000,000)		0
Reserves for future policy benefits and claims payable at January 1, 2021	$ 4,432,000,000	$ 5,737,000,000
Closed Block Annuity | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits			5,328,000,000
Closed Block Annuity | Adjustment for loss contracts under the modified retrospective approach
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			18,000,000
Closed Block Annuity | Effect of remeasurement of liability at current discount rates
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effect of changes in cash flow assumptions			$ 997,000,000
Reserve For Future Policy Benefits
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				14,017,000,000
Reserve For Future Policy Benefits | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				12,280,000,000
Reserve For Future Policy Benefits | Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				1,737,000,000
Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				2,757,000,000
Other product lines | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				10,210,000,000
Other product lines | Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for future policy benefits and claims payable at January 1, 2021				$ (7,453,000,000)

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Effect of Adoption, Closed Block Life Additional Liabilities (Details) - Closed Block Life - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Additional liabilities, Closed Block Life	$ 1,172,000	$ 1,159,000	$ 1,185,000	$ 1,148,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Additional liabilities, Closed Block Life	$ 1,131,000	$ 1,173,000	1,157,000	$ 1,185,000
As Revised
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Additional liabilities, Closed Block Life			28,000
Change in accounting principle
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Additional liabilities, Closed Block Life			$ 0

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Effect of Adoption, Market Risk Benefits (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities	$ 797,000,000	$ 6,369,000,000	$ 10,000,000,000
Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities	767,000,000	6,281,000,000	9,908,000,000	$ 9,908,000,000
Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities	$ 30,000,000	$ 88,000,000	92,000,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			7,380,000,000
As Previously Reported | Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			7,306,000,000
As Previously Reported | Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			74,000,000
Adjustment for reversal of AOCI adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(75,000,000)
Adjustment for reversal of AOCI adjustments | Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(27,000,000)
Adjustment for reversal of AOCI adjustments | Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(48,000,000)
Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(749,000,000)
Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date | Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(743,000,000)
Cumulative effect of the changes in non-performance risk between the original contract issuance date and the transition date | Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			(6,000,000)
Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			3,444,000,000
Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs | Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			3,372,000,000
Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs | Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Market risk benefit - net liabilities			$ 72,000,000

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Effect of Adoption, Deferred Policy Acquisition Costs (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs	$ 12,918,000	$ 12,918,000	[1]	$ 13,519,000	$ 13,519,000	[1]	$ 14,036,000	$ 13,897,000	$ 12,334,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs	13,407,000			14,246,000	14,246,000		13,896,000
Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs	$ (489,000)			$ (727,000)	(727,000)		140,000
Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs		$ 12,699,000			$ 13,364,000		13,876,000	$ 13,725,000
Variable Annuity | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs							13,725,000
Variable Annuity | Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs							151,000
Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs							160,000
Other product lines | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs							171,000
Other product lines | Revision of Prior Period, Accounting Standards Update, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred acquisition costs							$ (11,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Effect of Adoption, Reinsurance Recoverable (Details) $ in Thousands	Jan. 01, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Less: Reinsurance recoverable	$ 35,156,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Less: Reinsurance recoverable	35,311,000
Reclass of carrying amount of MRBs under prior guidance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Less: Reinsurance recoverable	(408,000)
Adjustment for loss contracts under the modified retrospective approach
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Less: Reinsurance recoverable	0
Effect of remeasurement of liability at current discount rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Less: Reinsurance recoverable	$ 253,000

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Effect of Adoption, Reinsurance Recoverable on Market Risk Benefits (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value	$ 221,000	$ 221,000	[1]	$ 383,000	$ 383,000	[1]	$ 472,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value	$ 0			$ 0	0		0	$ 408,000
Adjustment for reversal of AOCI adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							(47,000)
Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							111,000
Variable Annuity
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value		183,000			284,000		368,000
Variable Annuity | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value								340,000
Variable Annuity | Adjustment for reversal of AOCI adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							0
Variable Annuity | Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							28,000
Other product lines
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value		$ 38,000			$ 99,000		104,000
Other product lines | As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value								$ 68,000
Other product lines | Adjustment for reversal of AOCI adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							(47,000)
Other product lines | Remaining cumulative difference (exclusive of non-performance risk change) between 12/31/20 carrying amount and fair value measurement for the MRBs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reinsurance recoverable on market risk benefits, at fair value							$ 83,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Effect of Adoption, Income Statements (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net gains (losses) on derivatives and investments	$ (832)	$ (5,367)	$ (4,198)	$ (194)	$ 2,940	$ (1,566)	$ (1,698)	$ (421)	$ (388)	$ (2,839)	$ (3,018)	[1]	$ (5,346)	[1]	$ (6,894)
Total revenues	9,752	5,982	(2,069)	2,951	6,702	2,168	1,196	2,329	1,626	831	9,752	[1]	5,982	[1]	3,443
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	1,035	904	246	240	261	288	155	280	214	255	1,035	[1]	904	[1]	1,313
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36)	41	(26)	(39)	14	15	2	(15)	6	48	(36)	[1]	41	[1]	0
Net (gain) loss on market risk benefits	(3,536)	(3,966)	(1,900)	(913)	1,184	(1,907)	(22)	1,066	1,512	(6,522)	(3,536)	[2]	(3,966)	[1]	0
Interest credited on other contract holder funds, net of deferrals and amortization	859	825	235	223	206	195	201	205	207	212	859	[1]	825	[1]	1,293
Amortization of deferred acquisition costs	1,225	1,305													534
Total benefits and expenses	1,917	1,820	(528)	391	2,511	(457)	1,397	2,533	2,929	(5,039)	1,917	[1]	1,820	[1]	5,836
Pretax adjusted operating earnings	7,835	4,162
Income tax expense (benefit)	1,530	680	(380)	661	854	395	(94)	(98)	(246)	1,118	1,530	[1]	680	[1]	(841)
Net income (loss)	6,305	3,482	$ (1,161)	$ 1,899	$ 3,337	$ 2,230	$ (107)	$ (106)	$ (1,057)	$ 4,752	$ 6,305	[2]	3,482	[2]	(1,552)
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net gains (losses) on derivatives and investments	3,856	(2,480)											(2,480)
Total revenues	14,440	8,869											8,400		3,025
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	2,263	949											892		1,235
(Gain) loss from updating future policy benefits cash flow assumptions, net	0	0											0
Net (gain) loss on market risk benefits	0	0											0
Interest credited on other contract holder funds, net of deferrals and amortization	855	827											861		1,202
Amortization of deferred acquisition costs	1,743	519
Total benefits and expenses	7,231	5,006											4,537		5,418
Pretax adjusted operating earnings	7,209	3,863
Income tax expense (benefit)	1,396	616											616
Net income (loss)	5,813	3,247											3,247		(1,552)
Effect of Changes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net gains (losses) on derivatives and investments	(4,688)	(2,887)											(2,887)
Total revenues	(4,688)	(2,887)											(2,887)		0
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	(1,228)	(45)											(45)		0
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36)	41											41
Net (gain) loss on market risk benefits	(3,536)	(3,966)											(3,966)
Interest credited on other contract holder funds, net of deferrals and amortization	4	(2)											(2)		0
Amortization of deferred acquisition costs	(518)	786
Total benefits and expenses	(5,314)	(3,186)											(3,186)		0
Pretax adjusted operating earnings	626	299
Income tax expense (benefit)	134	64											64
Net income (loss)	$ 492	$ 235											$ 235		$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Effect of Adoption, Other Comprehensive Income (Loss) Statement (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 6,305	$ 3,482	$ (1,161)	$ 1,899	$ 3,337	$ 2,230	$ (107)	$ (106)	$ (1,057)	$ 4,752	$ 6,305	[1]	$ 3,482	[1]	$ (1,552)
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses) on securities with no credit impairment net of tax expense (benefit)	(7,473)	(2,133)									(7,473)	[2]	(2,133)	[2]	1,417
Change in unrealized gains (losses) on securities with credit impairment, net of tax expense (benefit) of: $(1), $1, and $1 for the years ended December 31, 2022, 2021 and 2020, respectively											(2)	[2]	3	[2]	4
Change in current discount rate related to reserve for future policy benefits, net of tax expense (benefit)	1,303	397									1,303	[2]	397	[2]	0
Change in non-performance risk on market risk benefits, net of tax expense (benefit)	1,468	(332)
Total other comprehensive income (loss)	(4,704)	(2,065)									$ (4,704)	[2]	(2,065)	[2]	1,421
Comprehensive income (loss) attributable to Jackson Financial Inc.	1,601	1,417
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	5,813	3,247											3,247		(1,552)
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses) on securities with no credit impairment net of tax expense (benefit)	(7,199)	(2,073)
Change in current discount rate related to reserve for future policy benefits, net of tax expense (benefit)	0	0
Change in non-performance risk on market risk benefits, net of tax expense (benefit)	0	0
Total other comprehensive income (loss)	(7,201)	(2,070)
Comprehensive income (loss) attributable to Jackson Financial Inc.	(1,388)	1,177
Effect of Changes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	492	235											$ 235		$ 0
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses) on securities with no credit impairment net of tax expense (benefit)	(274)	(60)
Change in current discount rate related to reserve for future policy benefits, net of tax expense (benefit)	1,303	397
Change in non-performance risk on market risk benefits, net of tax expense (benefit)	1,468	(332)
Total other comprehensive income (loss)	2,497	5
Comprehensive income (loss) attributable to Jackson Financial Inc.	$ 2,989	$ 240
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Summary of Significant Accou_15

Summary of Significant Accounting Policies - Effect of Adoption, Cash Flow Statement (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 6,305,000	$ 3,482,000	$ (1,161,000)	$ 1,899,000	$ 3,337,000	$ 2,230,000	$ (107,000)	$ (106,000)	$ (1,057,000)	$ 4,752,000	$ 6,305,000	[1]	$ 3,482,000	[1]	$ (1,552,000)
Net losses (gains) on derivatives	2,663,000	5,527,000									2,663,000	[1]	5,527,000	[1]	7,267,000
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)	(1,900,000)	(913,000)	1,184,000	(1,907,000)	(22,000)	1,066,000	1,512,000	(6,522,000)	(3,536,000)	[1]	(3,966,000)	[2]	0
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000	$ (26,000)	$ (39,000)	$ 14,000	$ 15,000	$ 2,000	$ (15,000)	$ 6,000	$ 48,000	(36,000)	[2]	41,000	[2]	0
Interest credited on other contract holder funds, gross	859,000	825,000									859,000	[1]	825,000	[1]	1,296,000
Deferred income tax expense (benefit)	1,572,000	761,000									1,572,000	[1]	761,000	[1]	(776,000)
Deferred acquisition costs	601,000	517,000									601,000	[1]	517,000	[1]	(1,503,000)
Funds withheld, net of reinsurance	(73,000)	(626,000)									(73,000)	[1]	(626,000)	[1]	792,000
Other assets and liabilities, net	(1,473,000)	(1,170,000)									(1,473,000)	[1]	(1,170,000)	[1]	(476,000)
Total adjustments	577,000	1,909,000
Net cash provided by (used in) operating activities	4,647,000	4,888,000									$ 4,647,000	[1]	4,888,000	[1]	3,745,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	5,813,000	3,247,000											3,247,000		(1,552,000)
Net losses (gains) on derivatives	(2,025,000)	2,640,000
Net (gain) loss on market risk benefits	0	0											0
(Gain) loss from updating future policy benefits cash flow assumptions, net	0	0											0
Interest credited on other contract holder funds, gross	855,000	827,000
Deferred income tax expense (benefit)	1,438,000	697,000
Deferred acquisition costs	1,119,000	(270,000)
Funds withheld, net of reinsurance	(402,000)	(757,000)
Other assets and liabilities, net	84,000	(993,000)
Total adjustments	1,069,000	2,144,000
Net cash provided by (used in) operating activities	4,647,000	4,888,000
Effect of Changes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	492,000	235,000											235,000		$ 0
Net losses (gains) on derivatives	4,688,000	2,887,000
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)											(3,966,000)
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000											$ 41,000
Interest credited on other contract holder funds, gross	4,000	(2,000)
Deferred income tax expense (benefit)	134,000	64,000
Deferred acquisition costs	(518,000)	787,000
Funds withheld, net of reinsurance	329,000	131,000
Other assets and liabilities, net	(1,557,000)	(177,000)
Total adjustments	(492,000)	(235,000)
Net cash provided by (used in) operating activities	$ 0	$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Segment Information - Segment R

Segment Information - Segment Results (Details) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023 USD ($)	Jan. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment		Dec. 31, 2021 USD ($)		Dec. 31, 2020 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment											3
Segment Reporting Information [Line Items]
Fee income			$ 1,861,000	$ 1,893,000	$ 1,920,000	$ 1,997,000	$ 2,081,000	$ 2,047,000	$ 1,976,000	$ 1,890,000	$ 7,671,000	[1]	$ 7,994,000	[1]	$ 6,840,000
Premiums			22,000	30,000	26,000	31,000	30,000	30,000	31,000	31,000	109,000	[1]	122,000	[1]	157,000
Net investment income			695,000	648,000	719,000	658,000	797,000	771,000	744,000	828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Net gains (losses) on derivatives and investments	$ (832,000)	$ (5,367,000)	(4,198,000)	(194,000)	2,940,000	(1,566,000)	(1,698,000)	(421,000)	(388,000)	(2,839,000)	(3,018,000)	[1]	(5,346,000)	[1]	(6,894,000)
Other income			25,000	19,000	20,000	20,000	22,000	17,000	31,000	23,000	84,000	[1]	93,000	[1]	64,000
Total revenues	9,752,000	5,982,000	(2,069,000)	2,951,000	6,702,000	2,168,000	1,196,000	2,329,000	1,626,000	831,000	9,752,000	[1]	5,982,000	[1]	3,443,000
Death, other policy benefits and change in policy reserves, net of deferrals	1,035,000	904,000	246,000	240,000	261,000	288,000	155,000	280,000	214,000	255,000	1,035,000	[1]	904,000	[1]	1,313,000
Interest credited on other contract holder funds, net of deferrals and amortization	859,000	825,000	235,000	223,000	206,000	195,000	201,000	205,000	207,000	212,000	859,000	[1]	825,000	[1]	1,293,000
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000	(26,000)	(39,000)	14,000	15,000	2,000	(15,000)	6,000	48,000	(36,000)	[1]	41,000	[1]	0
Interest expense			18,000	8,000	6,000	5,000	5,000	4,000	7,000	6,000	37,000	[1]	22,000	[1]	44,000
Operating costs and other expenses, net of deferrals			602,000	568,000	532,000	631,000	737,000	666,000	655,000	631,000	2,333,000	[1]	2,689,000	[1]	1,200,000
Total benefits and expenses	1,917,000	1,820,000	$ (528,000)	$ 391,000	$ 2,511,000	$ (457,000)	$ 1,397,000	$ 2,533,000	$ 2,929,000	$ (5,039,000)	1,917,000	[1]	1,820,000	[1]	5,836,000
Pretax income (loss)	$ 7,835,000	$ 4,162,000
Operating Segments
Segment Reporting Information [Line Items]
Fee income											4,582,000		5,128,000		4,319,000
Premiums											121,000		134,000		170,000
Net investment income											1,467,000		1,952,000		2,044,000
Net gains (losses) on derivatives and investments											40,000		153,000		127,000
Other income											84,000		93,000		64,000
Total revenues											6,294,000		7,460,000		6,724,000
Death, other policy benefits and change in policy reserves, net of deferrals											769,000		737,000		999,000
Interest credited on other contract holder funds, net of deferrals and amortization											859,000		825,000		1,155,000
(Gain) loss from updating future policy benefits cash flow assumptions, net											(30,000)		72,000
Interest expense											37,000		22,000		44,000
Operating costs and other expenses, net of deferrals											2,333,000		2,689,000		2,403,000
Amortization of deferred acquisition costs											568,000		568,000		92,000
Total benefits and expenses											4,536,000		4,913,000		4,693,000
Pretax income (loss)											1,758,000		2,547,000		2,031,000
Operating Segments | Retail Annuities
Segment Reporting Information [Line Items]
Fee income											4,108,000		4,636,000		3,806,000
Premiums											10,000		15,000		27,000
Net investment income											394,000		686,000		947,000
Net gains (losses) on derivatives and investments											17,000		52,000		48,000
Other income											42,000		47,000		30,000
Total revenues											4,571,000		5,436,000		4,858,000
Death, other policy benefits and change in policy reserves, net of deferrals											63,000		6,000		142,000
Interest credited on other contract holder funds, net of deferrals and amortization											246,000		218,000		469,000
(Gain) loss from updating future policy benefits cash flow assumptions, net											(6,000)		(8,000)
Interest expense											32,000		22,000		28,000
Operating costs and other expenses, net of deferrals											2,174,000		2,455,000		2,172,000
Amortization of deferred acquisition costs											557,000		556,000		55,000
Total benefits and expenses											3,066,000		3,249,000		2,866,000
Pretax income (loss)											1,505,000		2,187,000		1,992,000
Operating Segments | Closed Life and Annuity Blocks
Segment Reporting Information [Line Items]
Fee income											474,000		492,000		513,000
Premiums											111,000		119,000		143,000
Net investment income											706,000		950,000		776,000
Net gains (losses) on derivatives and investments											31,000		72,000		58,000
Other income											35,000		39,000		26,000
Total revenues											1,357,000		1,672,000		1,516,000
Death, other policy benefits and change in policy reserves, net of deferrals											706,000		731,000		857,000
Interest credited on other contract holder funds, net of deferrals and amortization											412,000		419,000		436,000
(Gain) loss from updating future policy benefits cash flow assumptions, net											(24,000)		80,000
Interest expense											0		0		0
Operating costs and other expenses, net of deferrals											129,000		181,000		190,000
Amortization of deferred acquisition costs											11,000		12,000		17,000
Total benefits and expenses											1,234,000		1,423,000		1,500,000
Pretax income (loss)											123,000		249,000		16,000
Operating Segments | Institutional Products
Segment Reporting Information [Line Items]
Fee income											0		0		0
Premiums											0		0		0
Net investment income											312,000		260,000		355,000
Net gains (losses) on derivatives and investments											(22,000)		(3,000)		0
Other income											0		0		1,000
Total revenues											290,000		257,000		356,000
Death, other policy benefits and change in policy reserves, net of deferrals											0		0		0
Interest credited on other contract holder funds, net of deferrals and amortization											201,000		188,000		250,000
(Gain) loss from updating future policy benefits cash flow assumptions, net											0		0
Interest expense											5,000		0		16,000
Operating costs and other expenses, net of deferrals											5,000		5,000		5,000
Amortization of deferred acquisition costs											0		0		0
Total benefits and expenses											211,000		193,000		271,000
Pretax income (loss)											79,000		64,000		85,000
Corporate and Other
Segment Reporting Information [Line Items]
Fee income											0		0		0
Premiums											0		0		0
Net investment income											55,000		56,000		(34,000)
Net gains (losses) on derivatives and investments											14,000		32,000		21,000
Other income											7,000		7,000		7,000
Total revenues											76,000		95,000		(6,000)
Death, other policy benefits and change in policy reserves, net of deferrals											0		0		0
Interest credited on other contract holder funds, net of deferrals and amortization											0		0		0
(Gain) loss from updating future policy benefits cash flow assumptions, net											0		0
Interest expense											0		0		0
Operating costs and other expenses, net of deferrals											25,000		48,000		36,000
Amortization of deferred acquisition costs											0		0		20,000
Total benefits and expenses											25,000		48,000		56,000
Pretax income (loss)											$ 51,000		$ 47,000		$ (62,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Segment Information - Reconcili

Segment Information - Reconciliation of Revenues (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenues (1)	$ 9,752	$ 5,982	$ (2,069)	$ 2,951	$ 6,702	$ 2,168	$ 1,196	$ 2,329	$ 1,626	$ 831	$ 9,752	[1]	$ 5,982	[1]	$ 3,443
Net gains (losses) on derivatives and investments	$ (832)	$ (5,367)	(4,198)	(194)	2,940	(1,566)	(1,698)	(421)	(388)	(2,839)	(3,018)	[1]	(5,346)	[1]	(6,894)
Net investment income on funds withheld assets			$ 317	$ 313	$ 364	$ 260	$ 304	$ 299	$ 294	$ 291	1,254	[1]	1,188	[1]	792
Operating Segments
Segment Reporting Information [Line Items]
Total revenues (1)											6,294		7,460		6,724
Net gains (losses) on derivatives and investments											40		153		127
Segment Reconciling Items
Segment Reporting Information [Line Items]
Fees attributed to variable annuity benefit reserves											3,077		2,854		2,509
Net gains (losses) on derivatives and investments											(873)		(5,520)		(6,582)
Net investment income on funds withheld assets											$ 1,254		$ 1,188		$ 792
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Segment Information - Reconci_2

Segment Information - Reconciliation of Benefits and Expenses (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Segment Reporting Information [Line Items]
Total benefits and expenses	$ 1,917	$ 1,820	$ (528)	$ 391	$ 2,511	$ (457)	$ 1,397	$ 2,533	$ 2,929	$ (5,039)	$ 1,917	[1]	$ 1,820	[1]	$ 5,836
Athene reinsurance transaction											0	[1]	0	[1]	2,520
Operating Segments
Segment Reporting Information [Line Items]
Total benefits and expenses											4,536		4,913		4,693
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net gain (loss) on market risk benefits											(3,536)		(3,966)		0
Benefits attributed to guaranteed benefit features											261		137		150
Amortization of DAC related to non-operating revenues and expenses											656		736		(1,253)
SOP 03-1 reserve movements											0		0		164
Athene reinsurance transaction											$ 0		$ 0		$ 2,082
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Segment Information - Reconci_3

Segment Information - Reconciliation of Net Income (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Segment Reporting Information [Line Items]
Pretax adjusted operating earnings	$ 7,835,000	$ 4,162,000
Non-operating adjustments income (loss):
Net movement in freestanding derivatives	(2,663,000)	(5,527,000)									$ (2,663,000)	[1]	$ (5,527,000)	[1]	$ (7,267,000)
Market risk benefits gains (losses)	3,536,000	3,966,000	$ 1,900,000	$ 913,000	$ (1,184,000)	$ 1,907,000	$ 22,000	$ (1,066,000)	$ (1,512,000)	$ 6,522,000	3,536,000	[1]	3,966,000	[2]	0
Net realized investment gains (losses) on funds withheld assets											(355,000)	[1]	181,000	[1]	373,000
Cost of reinsurance											0	[2]	0	[2]	(2,520,000)
Net investment income on funds withheld assets			317,000	313,000	364,000	260,000	304,000	299,000	294,000	291,000	1,254,000	[2]	1,188,000	[2]	792,000
Pretax income (loss)											7,835,000		4,162,000		(2,393,000)
Income tax expense (benefit)	$ 1,530,000	$ 680,000	$ (380,000)	$ 661,000	$ 854,000	$ 395,000	$ (94,000)	$ (98,000)	$ (246,000)	$ 1,118,000	1,530,000	[2]	680,000	[2]	(841,000)
Net income (loss) attributable to Jackson Financial Inc.											6,305,000		3,482,000		(1,552,000)
Operating Segments
Segment Reporting Information [Line Items]
Pretax adjusted operating earnings											1,758,000		2,547,000		2,031,000
Segment Reconciling Items
Non-operating adjustments income (loss):
Fees attributed to variable annuity benefit reserves											3,077,000		2,854,000		2,509,000
Net movement in freestanding derivatives											(2,743,000)		(5,675,000)		(4,661,000)
Market risk benefits gains (losses)											3,536,000		3,966,000		0
Net reserve and embedded derivative movements											(222,000)		(141,000)		(3,184,000)
Amortization of DAC associated with non-operating items											(655,000)		(736,000)		1,261,000
Assumption changes											0		0		128,000
Guaranteed benefits and net hedging results											2,993,000		268,000		(3,947,000)
Net realized investment gains (losses) on funds withheld assets											(356,000)		180,000		373,000
Net realized investment gains (losses) on funds withheld assets											2,186,000		(21,000)		440,000
Cost of reinsurance											0		0		(2,082,000)
Net investment income on funds withheld assets											$ 1,254,000		$ 1,188,000		$ 792,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Segment Information - Assets by

Segment Information - Assets by Segment (Details) - USD ($) $ in Millions	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Segment Reporting Information [Line Items]
Total assets	$ 311,022	$ 311,022	[1]	$ 373,914	$ 373,914	[1]	$ 353,510
Operating Segments | Retail Annuities
Segment Reporting Information [Line Items]
Total assets		269,755			328,227
Operating Segments | Closed Life and Annuity Blocks
Segment Reporting Information [Line Items]
Total assets		28,927			32,311
Operating Segments | Institutional Products
Segment Reporting Information [Line Items]
Total assets		10,175			10,712
Corporate and Other
Segment Reporting Information [Line Items]
Total assets		$ 2,165			$ 2,664
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Investments - Narrative (Detail

Investments - Narrative (Details)				3 Months Ended								10 Months Ended	12 Months Ended
		Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2022 USD ($) state	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) state		Dec. 31, 2021 USD ($)		Dec. 31, 2020 USD ($)
Summary of Investment Holdings [Line Items]
Debt securities, rated by investment advisor				$ 32,000,000				$ 13,000,000					$ 32,000,000		$ 13,000,000
Securities on deposit with regulatory authorities				90,000,000				116,000,000					90,000,000		116,000,000
Policy loans, fair value under fair value option				3,419,000,000				3,467,000,000					3,419,000,000		3,467,000,000
Policy loans not held as collateral for reinsurance				1,000,000,000				1,000,000,000					1,000,000,000		1,000,000,000
Aggregate fair value of securities sold at a loss													$ 5,359,000,000		$ 2,600,000,000		$ 7,608,000,000
Aggregate fair value of securities sold at a loss, percentage of book value													93%		95%		97%
Proceeds from sales of available-for-sale debt securities													$ 7,959,000,000		$ 9,600,000,000		$ 25,533,000,000
Unconsolidated VIEs, exposure to loss				3,098,000,000				3,347,000,000					3,098,000,000		3,347,000,000
Equity securities	[1]			359,000,000				257,000,000					359,000,000		257,000,000
Financing receivables	[1]			10,967,000,000				11,482,000,000					10,967,000,000		11,482,000,000
Financing receivables, accrued interest receivable				48,000,000				44,000,000					$ 48,000,000		44,000,000
Deferral of interest and principal payments, repayment period, COVID-19													1 year
Deferred interest and principal payments, COVID-19				10,000,000									$ 10,000,000
Recorded investment				15,000,000				6,000,000					15,000,000		6,000,000
Unpaid principal balance, no related allowance				16,000,000				7,000,000					16,000,000		7,000,000
Average recorded investment													18,000,000		2,000,000
Stressed loans				3,000,000				0					3,000,000		0
Mortgage loans in process of foreclosure				15,000,000				6,000,000					15,000,000		6,000,000
Other invested assets	[1]			2,817,000,000				2,620,000,000					2,817,000,000		2,620,000,000
Sale of limited partnership investments					$ 168,000,000	$ 236,000,000						$ 420,000,000
Securities loaned				$ 32,000,000				13,000,000					$ 32,000,000		13,000,000
Securities loaned, minimum percent of fair value required as collateral				102%									102%
Securities loaned, cash collateral				$ 33,000,000				14,000,000					$ 33,000,000		14,000,000
Repurchase agreements, weighted average interest rate		2.54%	0.07%
Repurchase agreement balance				1,012,000,000				1,572,000,000					1,012,000,000		1,572,000,000
Repurchase agreements, highest level of amount outstanding													1,012,000,000		2,349,000,000
Interest expense				18,000,000	$ 8,000,000	$ 6,000,000	$ 5,000,000	5,000,000	$ 4,000,000	$ 7,000,000	$ 6,000,000		37,000,000	[2]	22,000,000	[2]	44,000,000
Carrying Value
Summary of Investment Holdings [Line Items]
Equity securities				359,000,000				257,000,000					359,000,000		257,000,000
Unfunded partnership investment commitment
Summary of Investment Holdings [Line Items]
Unfunded commitments				1,398,000,000									$ 1,398,000,000
Minimum
Summary of Investment Holdings [Line Items]
Deferral of interest and principal payments, period, COVID-19													6 months
Maximum
Summary of Investment Holdings [Line Items]
Deferral of interest and principal payments, period, COVID-19													14 months
Repurchase agreements
Summary of Investment Holdings [Line Items]
Short term borrowings				311,000,000				1,548,000,000					$ 311,000,000		1,548,000,000
Commercial mortgage loans
Summary of Investment Holdings [Line Items]
Financing receivables				$ 10,200,000,000				10,500,000,000					$ 10,200,000,000		10,500,000,000
Financing receivables, collateralized by properties, number of states | state				38									38
Financing receivables, accrued interest receivable				$ 39,000,000				32,000,000					$ 39,000,000		32,000,000
Mortgage loans in process of foreclosure				0				0					0		0
Residential mortgage loans
Summary of Investment Holdings [Line Items]
Financing receivables				$ 1,308,000,000				939,000,000					$ 1,308,000,000		939,000,000
Financing receivables, collateralized by properties, number of states | state				50									50
Financing receivables, accrued interest receivable				$ 9,000,000				13,000,000					$ 9,000,000		13,000,000
Unconsolidated VIEs
Summary of Investment Holdings [Line Items]
Equity securities				121,000,000				139,000,000					121,000,000		139,000,000
Corporate securities | Single corporate obligor
Summary of Investment Holdings [Line Items]
Debt securities, unrealized loss				$ 57,000,000				$ 16,000,000					$ 57,000,000		$ 16,000,000
Corporate debt securities, financial services
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage				16%									16%
Corporate debt securities, healthcare
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage				10%									10%
Corporate debt securities, consumer goods
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage								15%							15%
Corporate debt securities, gross unrealized losses
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage								16%							16%
Equity securities
Summary of Investment Holdings [Line Items]
Unrealized gains (losses)													$ (65,000,000)		$ 2,000,000		(2,000,000)
Limited partnerships
Summary of Investment Holdings [Line Items]
Other invested assets				$ 2,434,000,000				$ 2,252,000,000					2,434,000,000		2,252,000,000
Federal Home Loan Bank capital stock
Summary of Investment Holdings [Line Items]
Other invested assets				146,000,000				125,000,000					146,000,000		125,000,000
Real estate
Summary of Investment Holdings [Line Items]
Other invested assets				237,000,000				243,000,000					237,000,000		243,000,000
Real estate, foreclosed properties
Summary of Investment Holdings [Line Items]
Other invested assets				$ 0				$ 1,000,000					0		1,000,000
Repurchase agreements
Summary of Investment Holdings [Line Items]
Interest expense													$ 8,000,000		$ 1,000,000		$ 1,000,000
Investment grade
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage				78%				76%					78%		76%
Below investment grade
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage				2%				2%					2%		2%
Not rated
Summary of Investment Holdings [Line Items]
Debt securities in an unrealized loss position, percentage				20%				22%					20%		22%
Below investment grade or not rated
Summary of Investment Holdings [Line Items]
Debt securities, unrealized losses, percentage				21%				16%					21%		16%
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Investments - Composition of Fa

Investments - Composition of Fair Value of Debt Securities Classified by Rating (Details)	Dec. 31, 2022	Dec. 31, 2021
Investment Holdings [Line Items]
Percent of total debt securities carrying value	100%	100%
Investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	96.70%	96.40%
Investment grade | AAA
Investment Holdings [Line Items]
Percent of total debt securities carrying value	18%	15%
Investment grade | AA
Investment Holdings [Line Items]
Percent of total debt securities carrying value	8.80%	10%
Investment grade | A
Investment Holdings [Line Items]
Percent of total debt securities carrying value	31.50%	29.40%
Investment grade | BBB
Investment Holdings [Line Items]
Percent of total debt securities carrying value	38.40%	42%
Below investment grade
Investment Holdings [Line Items]
Percent of total debt securities carrying value	3.30%	3.60%
Below investment grade | BB
Investment Holdings [Line Items]
Percent of total debt securities carrying value	2.50%	2.80%
Below investment grade | B and below
Investment Holdings [Line Items]
Percent of total debt securities carrying value	0.80%	0.80%

Investments - Debt Securities -

Investments - Debt Securities - Amortized Cost, Gross Unrealized Gains and Losses, Fair Value and Allowance For Credit Loss (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 48,357	$ 49,296
Allowance for Credit Loss	23	9
Gross Unrealized Gains	115	2,777
Gross Unrealized Losses	6,377	611
Fair Value	42,072	51,453
U.S. government securities
Summary of Investment Holdings [Line Items]
Amortized Cost	5,731	4,515
Allowance for Credit Loss	0	0
Gross Unrealized Gains	1	97
Gross Unrealized Losses	1,008	301
Fair Value	4,724	4,311
Other government securities
Summary of Investment Holdings [Line Items]
Amortized Cost	1,719	1,489
Allowance for Credit Loss	2	0
Gross Unrealized Gains	2	147
Gross Unrealized Losses	251	17
Fair Value	1,468	1,619
Public utilities
Summary of Investment Holdings [Line Items]
Amortized Cost	5,833	6,016
Allowance for Credit Loss	0	0
Gross Unrealized Gains	26	669
Gross Unrealized Losses	692	25
Fair Value	5,167	6,660
Corporate securities
Summary of Investment Holdings [Line Items]
Amortized Cost	26,532	27,817
Allowance for Credit Loss	15	0
Gross Unrealized Gains	59	1,673
Gross Unrealized Losses	3,671	236
Fair Value	22,905	29,254
Residential mortgage-backed
Summary of Investment Holdings [Line Items]
Amortized Cost	498	514
Allowance for Credit Loss	6	2
Gross Unrealized Gains	19	45
Gross Unrealized Losses	59	3
Fair Value	452	554
Commercial mortgage-backed
Summary of Investment Holdings [Line Items]
Amortized Cost	1,813	1,960
Allowance for Credit Loss	0	0
Gross Unrealized Gains	0	75
Gross Unrealized Losses	182	6
Fair Value	1,631	2,029
Other asset-backed securities
Summary of Investment Holdings [Line Items]
Amortized Cost	6,231	6,985
Allowance for Credit Loss	0	7
Gross Unrealized Gains	8	71
Gross Unrealized Losses	514	23
Fair Value	$ 5,725	$ 7,026

Investments - Debt Securities M

Investments - Debt Securities Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
Due in 1 year or less	$ 1,994
Due after 1 year through 5 years	8,739
Due after 5 years through 10 years	12,212
Due after 10 years through 20 years	9,144
Due after 20 years	7,726
Total	48,357	$ 49,296
Allowance for Credit Loss
Due in 1 year or less	0
Due after 1 year through 5 years	3
Due after 5 years through 10 years	11
Due after 10 years through 20 years	3
Due after 20 years	0
Total	23	9
Gross Unrealized Gains
Due in 1 year or less	1
Due after 1 year through 5 years	14
Due after 5 years through 10 years	26
Due after 10 years through 20 years	46
Due after 20 years	1
Total	115	2,777
Gross Unrealized Losses
Due in 1 year or less	7
Due after 1 year through 5 years	431
Due after 5 years through 10 years	1,515
Due after 10 years through 20 years	1,655
Due after 20 years	2,014
Total	6,377	611
Fair Value
Due in 1 year or less	1,988
Due after 1 year through 5 years	8,319
Due after 5 years through 10 years	10,712
Due after 10 years through 20 years	7,532
Due after 20 years	5,713
Debt securities	42,072	51,453
Residential mortgage-backed
Amortized Cost
Without single maturity	498
Total	498	514
Allowance for Credit Loss
Without single maturity	6
Total	6	2
Gross Unrealized Gains
Without single maturity	19
Total	19	45
Gross Unrealized Losses
Without single maturity	59
Total	59	3
Fair Value
Without single maturity	452
Debt securities	452	554
Commercial mortgage-backed
Amortized Cost
Without single maturity	1,813
Total	1,813	1,960
Allowance for Credit Loss
Without single maturity	0
Total	0	0
Gross Unrealized Gains
Without single maturity	0
Total	0	75
Gross Unrealized Losses
Without single maturity	182
Total	182	6
Fair Value
Without single maturity	1,631
Debt securities	1,631	2,029
Other asset-backed securities
Amortized Cost
Without single maturity	6,231
Total	6,231	6,985
Allowance for Credit Loss
Without single maturity	0
Total	0	7
Gross Unrealized Gains
Without single maturity	8
Total	8	71
Gross Unrealized Losses
Without single maturity	514
Total	514	23
Fair Value
Without single maturity	5,725
Debt securities	$ 5,725	$ 7,026

Investments - Residential Mortg

Investments - Residential Mortgage-Backed Securities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Amortized Cost	$ 48,357	$ 49,296
Allowance for Credit Loss	23	9
Gross Unrealized Gains	115	2,777
Gross Unrealized Losses	6,377	611
Fair Value	42,072	51,453
Non-agency RMBS
Summary of Investment Holdings [Line Items]
Amortized Cost	316	360
Allowance for Credit Loss	6	2
Gross Unrealized Gains	19	44
Gross Unrealized Losses	41	2
Fair Value	288	400
Non-agency RMBS | Prime
Summary of Investment Holdings [Line Items]
Amortized Cost	205	227
Allowance for Credit Loss	4	1
Gross Unrealized Gains	2	10
Gross Unrealized Losses	30	2
Fair Value	173	234
Non-agency RMBS | Alt-A
Summary of Investment Holdings [Line Items]
Amortized Cost	84	94
Allowance for Credit Loss	2	1
Gross Unrealized Gains	7	21
Gross Unrealized Losses	10	0
Fair Value	79	114
Non-agency RMBS | Subprime
Summary of Investment Holdings [Line Items]
Amortized Cost	27	39
Allowance for Credit Loss	0	0
Gross Unrealized Gains	10	13
Gross Unrealized Losses	1	0
Fair Value	$ 36	$ 52

Investments - Debt Securities i

Investments - Debt Securities in Continuous Unrealized Loss Position (Details) $ in Millions	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 3,562	$ 245
Less than 12 months, fair value	$ 30,346	$ 11,075
Less than 12 months, # of securities | security	3,769	1,337
12 months or longer, gross unrealized losses	$ 2,815	$ 366
12 months or longer, fair value	$ 8,475	$ 4,006
12 months or longer, # of securities | security	1,051	104
Total, gross unrealized losses	$ 6,377	$ 611
Total, fair value	$ 38,821	$ 15,081
Total, # of securities | security	4,626	1,414
U.S. government securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 339	$ 2
Less than 12 months, fair value	$ 2,664	$ 107
Less than 12 months, # of securities | security	38	16
12 months or longer, gross unrealized losses	$ 669	$ 299
12 months or longer, fair value	$ 1,386	$ 3,190
12 months or longer, # of securities | security	6	7
Total, gross unrealized losses	$ 1,008	$ 301
Total, fair value	$ 4,050	$ 3,297
Total, # of securities | security	40	21
Other government securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 174	$ 17
Less than 12 months, fair value	$ 1,258	$ 252
Less than 12 months, # of securities | security	143	23
12 months or longer, gross unrealized losses	$ 77	$ 0
12 months or longer, fair value	$ 177	$ 4
12 months or longer, # of securities | security	23	2
Total, gross unrealized losses	$ 251	$ 17
Total, fair value	$ 1,435	$ 256
Total, # of securities | security	162	25
Public utilities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 507	$ 18
Less than 12 months, fair value	$ 4,265	$ 712
Less than 12 months, # of securities | security	488	92
12 months or longer, gross unrealized losses	$ 185	$ 7
12 months or longer, fair value	$ 513	$ 99
12 months or longer, # of securities | security	86	8
Total, gross unrealized losses	$ 692	$ 25
Total, fair value	$ 4,778	$ 811
Total, # of securities | security	559	97
Corporate securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 2,072	$ 178
Less than 12 months, fair value	$ 16,936	$ 6,266
Less than 12 months, # of securities | security	2,307	722
12 months or longer, gross unrealized losses	$ 1,599	$ 58
12 months or longer, fair value	$ 4,549	$ 661
12 months or longer, # of securities | security	637	69
Total, gross unrealized losses	$ 3,671	$ 236
Total, fair value	$ 21,485	$ 6,927
Total, # of securities | security	2,786	770
Residential mortgage-backed
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 43	$ 3
Less than 12 months, fair value	$ 278	$ 174
Less than 12 months, # of securities | security	195	109
12 months or longer, gross unrealized losses	$ 16	$ 0
12 months or longer, fair value	$ 81	$ 11
12 months or longer, # of securities | security	94	12
Total, gross unrealized losses	$ 59	$ 3
Total, fair value	$ 359	$ 185
Total, # of securities | security	289	121
Commercial mortgage-backed
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 136	$ 5
Less than 12 months, fair value	$ 1,414	$ 314
Less than 12 months, # of securities | security	177	37
12 months or longer, gross unrealized losses	$ 46	$ 1
12 months or longer, fair value	$ 192	$ 30
12 months or longer, # of securities | security	31	3
Total, gross unrealized losses	$ 182	$ 6
Total, fair value	$ 1,606	$ 344
Total, # of securities | security	206	39
Other asset-backed securities
Summary of Investment Holdings [Line Items]
Less than 12 months, gross unrealized losses	$ 291	$ 22
Less than 12 months, fair value	$ 3,531	$ 3,250
Less than 12 months, # of securities | security	421	338
12 months or longer, gross unrealized losses	$ 223	$ 1
12 months or longer, fair value	$ 1,577	$ 11
12 months or longer, # of securities | security	174	3
Total, gross unrealized losses	$ 514	$ 23
Total, fair value	$ 5,108	$ 3,261
Total, # of securities | security	584	341

Investments - Rollforward of Al

Investments - Rollforward of Allowance for Debt Securities Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	$ 9	$ 14
Additions for which credit loss was not previously recorded	54	2
Changes for securities with previously recorded credit loss	(18)	9
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(5)	(16)
Securities intended/required to be sold before recovery of amortized cost basis	(17)	0
Balance	23	9
Accrued interest receivable on debt securities	395	373
U.S. government securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	0	0
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	0	0
Other government securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	0	0
Additions for which credit loss was not previously recorded	6	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(4)	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	2	0
Public utilities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	0	0
Additions for which credit loss was not previously recorded	1	0
Changes for securities with previously recorded credit loss	(1)	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	0	0
Corporate securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	0	0
Additions for which credit loss was not previously recorded	43	0
Changes for securities with previously recorded credit loss	(10)	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	(1)	0
Securities intended/required to be sold before recovery of amortized cost basis	(17)	0
Balance	15	0
Residential mortgage-backed
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	2	0
Additions for which credit loss was not previously recorded	4	2
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	6	2
Commercial mortgage-backed
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	0	0
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	0	0
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	0
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	0	0
Other asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance	7	14
Additions for which credit loss was not previously recorded	0	0
Changes for securities with previously recorded credit loss	(7)	9
Additions for purchases of PCD debt securities	0	0
Reductions from charge-offs	0	0
Reductions for securities disposed	0	(16)
Securities intended/required to be sold before recovery of amortized cost basis	0	0
Balance	$ 0	$ 7

Investments - Sources of Net In

Investments - Sources of Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Net Investment Income [Line Items]
Other investment expenses on funds withheld assets									$ (89,000)		$ (84,000)		$ (94,000)
Net investment income excluding funds withheld assets	$ 378,000	$ 335,000	$ 355,000	$ 398,000	$ 493,000	$ 472,000	$ 450,000	$ 537,000	1,466,000	[1]	1,952,000	[1]	2,044,000
Net investment income	$ 695,000	$ 648,000	$ 719,000	$ 658,000	$ 797,000	$ 771,000	$ 744,000	$ 828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Debt securities
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									1,108,000		1,063,000		1,579,000
Equity securities
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									(25,000)		8,000		(4,000)
Mortgage loans
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									284,000		319,000		365,000
Policy loans
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									70,000		73,000		79,000
Limited partnerships
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									74,000		559,000		105,000
Other invested assets
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									44,000		14,000		14,000
Total investment income excluding funds withheld assets
Net Investment Income [Line Items]
Total investment income excluding funds withheld assets									1,555,000		2,036,000		2,138,000
Funds withheld assets
Net Investment Income [Line Items]
Other investment expenses on funds withheld assets									(85,000)		(107,000)		(66,000)
Net investment income									$ 1,254,000		$ 1,188,000		$ 792,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Investments - Net Gains (Losses

Investments - Net Gains (Losses) on Derivatives and Investments (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Available-for-sale securities
Realized gains on sale											$ 41,000		$ 168,000		$ 772,000
Realized losses on sale											(425,000)		(88,000)		(195,000)
Credit loss income (expense)											(5,000)		(10,000)		(14,000)
Gross impairments											0		0		(27,000)
Credit loss income (expense) on mortgage loans											(16,000)		62,000		(61,000)
Other											50,000		49,000		(102,000)
Net gains (losses) excluding derivatives and funds withheld assets											(355,000)		181,000		373,000
Net gains (losses) on derivative instruments											708,000		(4,763,000)		(8,322,000)
Net gains (losses) on derivatives and investments	$ (832,000)	$ (5,367,000)	$ (4,198,000)	$ (194,000)	$ 2,940,000	$ (1,566,000)	$ (1,698,000)	$ (421,000)	$ (388,000)	$ (2,839,000)	(3,018,000)	[1]	(5,346,000)	[1]	(6,894,000)
Net gains (losses) on funds withheld reinsurance treaties			(474,000)	555,000	1,077,000	1,028,000	(36,000)	(115,000)	(768,000)	898,000	2,186,000	[1]	(21,000)	[1]	440,000
Total net gains (losses) on derivatives and investments			$ (4,672,000)	$ 361,000	$ 4,017,000	$ (538,000)	$ (1,734,000)	$ (536,000)	$ (1,156,000)	$ (1,941,000)	(832,000)	[1]	(5,367,000)	[1]	(6,454,000)
Derivatives excluding funds withheld under reinsurance treaties
Available-for-sale securities
Net gains (losses) on derivative instruments											(2,663,000)		(5,527,000)		(7,267,000)
Derivatives related to funds withheld under reinsurance treaties
Available-for-sale securities
Net gains (losses) on derivative instruments											3,371,000		764,000		(1,055,000)
Net gains (losses) on funds withheld reinsurance treaties											$ 2,186,000		$ (21,000)		$ 440,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Investments - Rollforward of Mo

Investments - Rollforward of Mortgages Allowance for Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	$ 94	$ 179
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	1	(85)
Balance	95	94
Financing receivables, accrued interest receivable	48	44
Apartment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	19	58
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(1)	(39)
Balance	18	19
Hotel
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	9	34
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	11	(25)
Balance	20	9
Office
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	28	25
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(13)	3
Balance	15	28
Retail
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	17	24
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	5	(7)
Balance	22	17
Warehouse
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	12	24
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	4	(12)
Balance	16	12
Residential Mortgage
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance	9	14
Charge offs, net of recoveries	0	0
Additions from purchase of PCD mortgage loans	0	0
Provision (release)	(5)	(5)
Balance	$ 4	$ 9

Investments - Information About

Investments - Information About Credit Quality and Vintage Year of Commercial Mortgage Loans (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 1,315	$ 1,887
Year two	1,927	1,447
Year three	1,260	1,671
Year four	1,554	1,691
Year five	1,511	1,420
Prior	3,978	3,362
Revolving Loans	4	4
Total	$ 11,549	$ 11,482
% of Total	100%	100%
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 896	$ 1,615
Year two	1,608	1,381
Year three	1,203	1,631
Year four	1,511	1,656
Year five	1,490	1,390
Prior	3,529	2,866
Revolving Loans	4	4
Total	$ 10,241	$ 10,543
% of Total	100%	100%
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 419	$ 272
Year two	319	66
Year three	57	40
Year four	43	35
Year five	21	30
Prior	449	496
Revolving Loans	0	0
Total	$ 1,308	$ 939
% of Total	100%	100%
Residential mortgage loans | Performing
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 413	$ 268
Year two	308	22
Year three	49	18
Year four	37	16
Year five	14	7
Prior	409	396
Revolving Loans	0	0
Total	$ 1,230	$ 727
% of Total	94%	77%
Residential mortgage loans | Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 6	$ 4
Year two	11	44
Year three	8	22
Year four	6	19
Year five	7	23
Prior	40	100
Revolving Loans	0	0
Total	$ 78	$ 212
% of Total	6%	23%
Greater than 1.20x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 694	$ 796
Year two	1,092	974
Year three	955	1,532
Year four	1,387	1,293
Year five	1,324	1,257
Prior	3,211	2,609
Revolving Loans	4	4
Total	$ 8,667	$ 8,465
% of Total	85%	80%
1.00x - 1.20x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 202	$ 651
Year two	372	329
Year three	106	81
Year four	83	90
Year five	34	11
Prior	172	68
Revolving Loans	0	0
Total	$ 969	$ 1,230
% of Total	9%	12%
Less than 1.00x | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 168
Year two	144	78
Year three	142	18
Year four	41	273
Year five	132	122
Prior	146	189
Revolving Loans	0	0
Total	$ 605	$ 848
% of Total	6%	8%
Less than 70% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 771	$ 1,270
Year two	1,266	1,346
Year three	1,171	1,592
Year four	1,473	1,599
Year five	1,480	1,305
Prior	3,421	2,703
Revolving Loans	4	4
Total	$ 9,586	$ 9,819
% of Total	94%	93%
70% - 80% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 125	$ 345
Year two	190	35
Year three	32	0
Year four	13	52
Year five	5	85
Prior	59	153
Revolving Loans	0	0
Total	$ 424	$ 670
% of Total	4%	6%
80% - 100% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 0
Year two	152	0
Year three	0	39
Year four	0	5
Year five	5	0
Prior	40	0
Revolving Loans	0	0
Total	$ 197	$ 44
% of Total	2%	0%
Greater than 100% | Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Year one	$ 0	$ 0
Year two	0	0
Year three	0	0
Year four	25	0
Year five	0	0
Prior	9	10
Revolving Loans	0	0
Total	$ 34	$ 10
% of Total	0%	0%

Investments - Mortgages by Stan

Investments - Mortgages by Standing (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	$ 11,549	$ 11,482
Restructured	0	0
In the Process of Foreclosure	15	6
In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	11,471	11,270
Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	63	206
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	10,241	10,543
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	10,241	10,543
Commercial mortgage loans | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Apartment
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	3,558	3,755
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Apartment | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	3,558	3,755
Commercial mortgage loans | Apartment | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Hotel
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,015	1,054
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Hotel | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,015	1,054
Commercial mortgage loans | Hotel | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Office
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,795	1,889
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Office | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,795	1,889
Commercial mortgage loans | Office | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	2,085	2,104
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Retail | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	2,085	2,104
Commercial mortgage loans | Retail | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Commercial mortgage loans | Warehouse
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,788	1,741
Restructured	0	0
In the Process of Foreclosure	0	0
Commercial mortgage loans | Warehouse | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,788	1,741
Commercial mortgage loans | Warehouse | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	0	0
Residential mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,308	939
Residential mortgage loans | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,308	939
Restructured	0	0
In the Process of Foreclosure	15	6
Residential mortgage loans | Residential | Financial Asset Acquired with Credit Deterioration
Financing Receivable, Credit Quality Indicator [Line Items]
In the Process of Foreclosure	12	5
Residential mortgage loans | Residential | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	1,230	727
Residential mortgage loans | Residential | Greater than 90 Days Delinquent
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	63	206
Residential mortgage loans | Residential | Greater than 90 Days Delinquent | Financial Asset Acquired with Credit Deterioration
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	41	202
Mezzanine loans | Apartment | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	410	278
Mezzanine loans | Hotel | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	41	75
Mezzanine loans | Office | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	236	252
Mezzanine loans | Retail | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	43	27
Mezzanine loans | Warehouse | In Good Standing
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying Value	$ 140	$ 26

Investments - Other Invested As

Investments - Other Invested Assets (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Other invested assets	[1]	$ 2,817	$ 2,620
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Derivative Instruments - Aggreg

Derivative Instruments - Aggregate Contractual Notional Amounts and Fair Values of Derivatives (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Fair Value	[1]	$ 1,270	$ 1,417
Liabilities
Fair Value	[1]	2,065	41
Freestanding derivatives
Derivative [Line Items]
Contractual/Notional Amount		209,801	97,647
Assets
Fair Value		1,173	1,374
Liabilities
Fair Value		2,046	35
Net Fair Value		(873)	1,339
Freestanding derivatives | Cross-currency swaps
Derivative [Line Items]
Contractual/Notional Amount		1,825	1,767
Assets
Fair Value		73	55
Liabilities
Fair Value		104	35
Net Fair Value		(31)	20
Freestanding derivatives | Equity index call options
Derivative [Line Items]
Contractual/Notional Amount		17,500	21,000
Assets
Fair Value		106	606
Liabilities
Fair Value		0	0
Net Fair Value		106	606
Freestanding derivatives | Equity index futures
Derivative [Line Items]
Contractual/Notional Amount		19,760	18,258
Assets
Fair Value		0	0
Liabilities
Fair Value		0	0
Net Fair Value		0	0
Freestanding derivatives | Equity index put options
Derivative [Line Items]
Contractual/Notional Amount		30,500	27,500
Assets
Fair Value		958	150
Liabilities
Fair Value		0	0
Net Fair Value		958	150
Freestanding derivatives | Interest rate swaps
Derivative [Line Items]
Contractual/Notional Amount		7,728	7,728
Assets
Fair Value		5	430
Liabilities
Fair Value		231	0
Net Fair Value		(226)	430
Freestanding derivatives | Interest rate swaps - cleared
Derivative [Line Items]
Contractual/Notional Amount		1,500	1,500
Assets
Fair Value		0	0
Liabilities
Fair Value		0	0
Net Fair Value		0	0
Freestanding derivatives | Put-swaptions
Derivative [Line Items]
Contractual/Notional Amount		25,000	19,000
Assets
Fair Value		0	133
Liabilities
Fair Value		1,711	0
Net Fair Value		(1,711)	133
Freestanding derivatives | Interest rate futures
Derivative [Line Items]
Contractual/Notional Amount		105,249	894
Assets
Fair Value		0	0
Liabilities
Fair Value		0	0
Net Fair Value		0	0
Freestanding derivatives | Total return swaps
Derivative [Line Items]
Contractual/Notional Amount		739
Assets
Fair Value		31
Liabilities
Fair Value		0
Net Fair Value		31
Embedded derivatives
Assets
Fair Value		0	0
Liabilities
Fair Value		1,136	1,445
Net Fair Value		(1,136)	(1,445)
Embedded derivatives | Fixed index annuity embedded derivatives
Assets
Fair Value		0	0
Liabilities
Fair Value		931	1,439
Net Fair Value		(931)	(1,439)
Embedded derivatives | Registered index linked annuity embedded derivatives (3)
Assets
Fair Value		0	0
Liabilities
Fair Value		205	6
Net Fair Value		(205)	(6)
Derivatives related to funds withheld under reinsurance treaties
Derivative [Line Items]
Contractual/Notional Amount		1,648	1,277
Assets
Fair Value		3,255	43
Liabilities
Fair Value		19	126
Net Fair Value		3,236	(83)
Derivatives related to funds withheld under reinsurance treaties | Cross-currency swaps
Derivative [Line Items]
Contractual/Notional Amount		158	158
Assets
Fair Value		23	10
Liabilities
Fair Value		1	1
Net Fair Value		22	9
Derivatives related to funds withheld under reinsurance treaties | Cross-currency forwards
Derivative [Line Items]
Contractual/Notional Amount		1,490	1,119
Assets
Fair Value		74	33
Liabilities
Fair Value		18	5
Net Fair Value		56	28
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Assets
Fair Value		3,158	0
Liabilities
Fair Value		0	120
Net Fair Value		3,158	(120)
Derivative assets
Derivative [Line Items]
Contractual/Notional Amount		211,449	98,924
Assets
Fair Value		4,428	1,417
Derivative liabilities
Liabilities
Fair Value		3,201	1,606
Derivative instruments
Liabilities
Net Fair Value		$ 1,227	$ (189)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Derivative Instruments - Gains

Derivative Instruments - Gains and Losses, and Change in Fair Value of Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	$ 708	$ (4,763)	$ (8,322)
Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(2,663)	(5,527)	(7,267)
Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3,371	764	(1,055)
Cross-currency swaps | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(67)	(36)	74
Cross-currency swaps | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	14	15	(5)
Equity index call options | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(1,830)	1,479	1,468
Equity index futures | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3,005	(4,663)	(8,286)
Equity index put options | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(244)	(1,202)	(218)
Interest rate swaps | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(615)	(179)	578
Interest rate swaps - cleared | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(201)	(64)	1
Put-swaptions | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(1,832)	134	199
Cross-currency forwards | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	79	42	(19)
Interest rate futures | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	(924)	(990)	1,651
Interest rate futures | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	0	0	(204)
Total return swaps | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	5	0	0
Fixed index annuity embedded derivatives | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3	(5)	30
Variable annuity embedded derivatives | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	0	0	(2,764)
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	3,278	707	(827)
Registered index linked annuity embedded derivatives (3) | Derivatives excluding funds withheld under reinsurance treaties
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses) on derivative instruments	$ 37	$ (1)	$ 0

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative assets by counterparty	$ 885,000,000	$ 1,376,000,000
Derivative assets, held collateral	858,000,000	1,576,000,000
Derivative liabilities by counterparty	1,680,000,000	0
Derivative liabilities, held collateral	1,650,000,000	0
Derivative disbursement obligation	30,000,000	200,000,000
Derivative claim	27,000,000	0
Embedded derivatives
Derivative [Line Items]
Net fair value, derivative asset (liability)	(1,136,000,000)	(1,445,000,000)
Derivatives related to funds withheld under reinsurance treaties
Derivative [Line Items]
Net fair value, derivative asset (liability)	3,236,000,000	(83,000,000)
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Derivative [Line Items]
Net fair value, derivative asset (liability)	$ 3,158,000,000	$ (120,000,000)

Derivative Instruments - Gross

Derivative Instruments - Gross and Net Information About Financial Instruments Subject to Master Netting Arrangements (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Freestanding derivative assets
Gross Amounts Recognized		$ 1,270	$ 1,417
Gross Amounts Offset in the Consolidated Balance Sheets		0	0
Net Amounts Presented in the Consolidated Balance Sheets	[1]	1,270	1,417
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments		385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral		683	817
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral		157	555
Net Amount		45	4
Freestanding derivative liabilities
Gross Amounts Recognized		2,065	41
Gross Amounts Offset in the Consolidated Balance Sheets		0	0
Fair Value	[1]	2,065	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments		385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral		0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral		1,638	0
Net Amount		42	0
Securities loaned
Gross Amounts Recognized		33	14
Gross Amounts Offset in the Consolidated Balance Sheets		0	0
Net Amounts Presented in the Consolidated Balance Sheets		33	14
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments		0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral		33	14
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral		0	0
Net Amount		0	0
Repurchase agreements
Gross Amounts Recognized		1,012	1,572
Gross Amounts Offset in the Consolidated Balance Sheets		0	0
Net Amounts Presented in the Consolidated Balance Sheets		1,012	1,572
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments		0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral		0	0
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral		1,012	1,572
Net Amount		0	0
Total financial liabilities
Gross Amounts Recognized		3,110	1,627
Gross Amounts Offset in the Consolidated Balance Sheets		0	0
Net Amounts Presented in the Consolidated Balance Sheets		3,110	1,627
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments		385	41
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral		33	14
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Securities Collateral		2,650	1,572
Net Amount		$ 42	$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value and Carrying Value of Financial Instruments (Details) - USD ($)		Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Assets
Debt securities			$ 42,072,000,000			$ 51,453,000,000
Equity securities	[1]		359,000,000			257,000,000
Mortgage loans			10,967,000,000			11,482,000,000
Policy loans	[1]		4,376,000,000			4,474,000,000
Freestanding derivative instruments	[1]		1,270,000,000			1,417,000,000
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock			146,000,000			125,000,000
Cash and cash equivalents			3,934,000,000			1,799,000,000
Reinsurance recoverable on market risk benefits		$ 29,076,000,000	29,076,000,000	[1]	$ 32,877,000,000	32,877,000,000	[1]	$ 35,156,000,000
Market risk benefit - (assets)		4,865,000,000	4,865,000,000	[1]	1,664,000,000	1,664,000,000	[1]	690,000,000
Receivables from affiliates	[1]		179,000,000			197,000,000
Separate account assets	[1]		195,906,000,000			248,949,000,000
Liabilities
Market risk benefit - liabilities		$ 5,662,000,000	5,662,000,000	[1]	$ 8,033,000,000	8,033,000,000	[1]	$ 10,690,000,000
Reserves for guaranteed investment contracts			1,128,000,000			894,000,000
Trust instruments supported by funding agreements			5,887,000,000			5,986,000,000
FHLB funding agreements			2,004,000,000			1,950,000,000
Funds withheld payable under reinsurance treaties	[1]		22,957,000,000			29,007,000,000
Long-term debt			470,000,000			494,000,000
Securities lending payable			33,000,000			14,000,000
Freestanding derivative instruments	[1]		2,065,000,000			41,000,000
Repurchase agreements			1,012,000,000			1,572,000,000
Separate account liabilities	[1]		195,906,000,000			248,949,000,000
Carrying Value
Assets
Debt securities			42,072,000,000			51,453,000,000
Equity securities			359,000,000			257,000,000
Mortgage loans			11,549,000,000			11,482,000,000
Limited partnerships			2,434,000,000			2,252,000,000
Policy loans			4,376,000,000			4,474,000,000
Freestanding derivative instruments			1,270,000,000			1,417,000,000
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock			146,000,000			125,000,000
Cash and cash equivalents			3,934,000,000			1,799,000,000
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)			4,865,000,000			1,664,000,000
Receivables from affiliates			179,000,000			197,000,000
Separate account assets			195,906,000,000			248,949,000,000
Liabilities
Annuity reserves			37,143,000,000			37,529,000,000
Market risk benefit - liabilities			5,662,000,000			8,033,000,000
Reserves for guaranteed investment contracts			1,128,000,000			894,000,000
Trust instruments supported by funding agreements			5,887,000,000			5,986,000,000
FHLB funding agreements			2,004,000,000			1,950,000,000
Funds withheld payable under reinsurance treaties			22,957,000,000			29,007,000,000
Long-term debt			470,000,000			494,000,000
Securities lending payable			33,000,000			14,000,000
Freestanding derivative instruments			2,065,000,000			41,000,000
Repurchase agreements			1,012,000,000			1,572,000,000
Separate account liabilities			195,906,000,000			248,949,000,000
Fair Value
Assets
Debt securities			42,072,000,000			51,453,000,000
Equity securities			359,000,000			257,000,000
Mortgage loans			10,841,000,000			11,910,000,000
Limited partnerships			2,434,000,000			2,252,000,000
Policy loans			4,376,000,000			4,474,000,000
Freestanding derivative instruments			1,270,000,000			1,417,000,000
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock			146,000,000			125,000,000
Cash and cash equivalents			3,934,000,000			1,799,000,000
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)			4,865,000,000			1,664,000,000
Receivables from affiliates			179,000,000			197,000,000
Separate account assets			195,906,000,000			248,949,000,000
Liabilities
Annuity reserves			32,212,000,000			45,836,000,000
Market risk benefit - liabilities			5,662,000,000			8,033,000,000
Reserves for guaranteed investment contracts			1,099,000,000			923,000,000
Trust instruments supported by funding agreements			5,760,000,000			6,175,000,000
FHLB funding agreements			2,104,000,000			1,938,000,000
Funds withheld payable under reinsurance treaties			22,957,000,000			29,007,000,000
Long-term debt			492,000,000			563,000,000
Securities lending payable			33,000,000			14,000,000
Freestanding derivative instruments			2,065,000,000			41,000,000
Repurchase agreements			1,012,000,000			1,572,000,000
Separate account liabilities			$ 195,906,000,000			$ 248,949,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	$ 42,072	$ 51,453
Transfers in and/or (out of ) Level 3	14	0
Funds withheld assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value option, assets carrying amount	4,160	3,632
Level 3 | Unobservable Inputs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt securities	$ 9	$ 2

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Option (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value	[1]	$ 582	$ 0
Aggregate contractual principal	[1]	10,967	$ 11,482
Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Aggregate contractual principal		$ 591
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value by Hierarchy (Details) - USD ($)		Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Assets
Debt securities			$ 42,072,000,000			$ 51,453,000,000
Equity securities	[1]		359,000,000			257,000,000
Mortgage loans, at fair value under fair value option	[1]		582,000,000			0
Limited partnerships			14,000,000			18,000,000
Policy loans			3,419,000,000			3,467,000,000
Freestanding derivative instruments	[1]		1,270,000,000			1,417,000,000
Cash and cash equivalents			3,934,000,000			1,799,000,000
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)		$ 4,865,000,000	4,865,000,000	[1]	$ 1,664,000,000	1,664,000,000	[1]	$ 690,000,000
Separate account assets	[1]		195,906,000,000			248,949,000,000
Total			252,642,000,000			309,407,000,000
Liabilities
Market risk benefit liabilities			1,135,000,000			1,445,000,000
Funds withheld payable under reinsurance treaties			424,000,000			3,759,000,000
Freestanding derivative instruments	[1]		2,065,000,000			41,000,000
Market risk benefit - liabilities		$ 5,662,000,000	5,662,000,000	[1]	$ 8,033,000,000	8,033,000,000	[1]	$ 10,690,000,000
Total			9,286,000,000			13,278,000,000
Limited partnership investments measured at NAV			2,420,000,000			2,234,000,000
U.S. government securities
Assets
Debt securities			4,724,000,000			4,311,000,000
Other government securities
Assets
Debt securities			1,468,000,000			1,619,000,000
Public utilities
Assets
Debt securities			5,167,000,000			6,660,000,000
Corporate securities
Assets
Debt securities			22,905,000,000			29,254,000,000
Residential mortgage-backed
Assets
Debt securities			452,000,000			554,000,000
Commercial mortgage-backed
Assets
Debt securities			1,631,000,000			2,029,000,000
Other asset-backed securities
Assets
Debt securities			5,725,000,000			7,026,000,000
Derivatives related to funds withheld under reinsurance treaties
Assets
Freestanding derivative instruments			3,255,000,000			43,000,000
Liabilities
Freestanding derivative instruments			19,000,000			126,000,000
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Assets
Freestanding derivative instruments			3,158,000,000			0
Liabilities
Freestanding derivative instruments			0			120,000,000
Level 1
Assets
Equity securities			163,000,000			212,000,000
Mortgage loans, at fair value under fair value option			0
Limited partnerships			0			0
Policy loans			0			0
Freestanding derivative instruments			0			0
Cash and cash equivalents			3,934,000,000			1,799,000,000
Reinsurance recoverable on market risk benefits			0			0
Market risk benefit - (assets)			0			0
Separate account assets			0			0
Total			8,821,000,000			6,322,000,000
Liabilities
Market risk benefit liabilities			0			0
Funds withheld payable under reinsurance treaties			0			0
Freestanding derivative instruments			0			0
Market risk benefit - liabilities			0			0
Total			0			0
Level 1 | U.S. government securities
Assets
Debt securities			4,724,000,000			4,311,000,000
Level 1 | Other government securities
Assets
Debt securities			0			0
Level 1 | Public utilities
Assets
Debt securities			0			0
Level 1 | Corporate securities
Assets
Debt securities			0			0
Level 1 | Residential mortgage-backed
Assets
Debt securities			0			0
Level 1 | Commercial mortgage-backed
Assets
Debt securities			0			0
Level 1 | Other asset-backed securities
Assets
Debt securities			0			0
Level 2
Assets
Equity securities			195,000,000			43,000,000
Mortgage loans, at fair value under fair value option			0
Limited partnerships			0			17,000,000
Policy loans			0			0
Freestanding derivative instruments			1,270,000,000			1,417,000,000
Cash and cash equivalents			0			0
Reinsurance recoverable on market risk benefits			0			0
Market risk benefit - (assets)			0			0
Separate account assets			195,906,000,000			248,949,000,000
Total			234,719,000,000			297,568,000,000
Liabilities
Market risk benefit liabilities			1,135,000,000			1,445,000,000
Funds withheld payable under reinsurance treaties			0			0
Freestanding derivative instruments			2,065,000,000			41,000,000
Market risk benefit - liabilities			0			0
Total			3,200,000,000			1,486,000,000
Level 2 | U.S. government securities
Assets
Debt securities			0			0
Level 2 | Other government securities
Assets
Debt securities			1,468,000,000			1,619,000,000
Level 2 | Public utilities
Assets
Debt securities			5,167,000,000			6,660,000,000
Level 2 | Corporate securities
Assets
Debt securities			22,905,000,000			29,254,000,000
Level 2 | Residential mortgage-backed
Assets
Debt securities			452,000,000			554,000,000
Level 2 | Commercial mortgage-backed
Assets
Debt securities			1,631,000,000			2,029,000,000
Level 2 | Other asset-backed securities
Assets
Debt securities			5,725,000,000			7,026,000,000
Level 3
Assets
Equity securities			1,000,000			2,000,000
Mortgage loans, at fair value under fair value option			582,000,000
Limited partnerships			14,000,000			1,000,000
Policy loans			3,419,000,000			3,467,000,000
Freestanding derivative instruments			0			0
Cash and cash equivalents			0			0
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)			4,865,000,000			1,664,000,000
Separate account assets			0			0
Total			9,102,000,000			5,517,000,000
Liabilities
Market risk benefit liabilities			0			0
Funds withheld payable under reinsurance treaties			424,000,000			3,759,000,000
Freestanding derivative instruments			0			0
Market risk benefit - liabilities			5,662,000,000			8,033,000,000
Total			6,086,000,000			11,792,000,000
Level 3 | U.S. government securities
Assets
Debt securities			0			0
Level 3 | Other government securities
Assets
Debt securities			0			0
Level 3 | Public utilities
Assets
Debt securities			0			0
Level 3 | Corporate securities
Assets
Debt securities			0			0
Level 3 | Residential mortgage-backed
Assets
Debt securities			0			0
Level 3 | Commercial mortgage-backed
Assets
Debt securities			0			0
Level 3 | Other asset-backed securities
Assets
Debt securities			0			0
Level 3 | RILA Embedded Derivative
Liabilities
Market risk benefit liabilities			205,000,000			6,000,000
Level 3 | Fixed index annuity embedded derivatives
Liabilities
Market risk benefit liabilities			$ 931,000,000			$ 1,439,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Balan

Fair Value Measurements - Balances of Level 3 Assets and Liabilities Measured at Fair Value with Corresponding Price Sources (Details) - USD ($)		Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Assets
Equity securities	[1]		$ 359,000,000			$ 257,000,000
Mortgage loans, at fair value under fair value option	[1]		582,000,000			0
Limited partnerships			14,000,000			18,000,000
Policy loans	[1]		4,376,000,000			4,474,000,000
Reinsurance recoverable on market risk benefits		$ 29,076,000,000	29,076,000,000	[1]	$ 32,877,000,000	32,877,000,000	[1]	$ 35,156,000,000
Market risk benefit - (assets)		4,865,000,000	4,865,000,000	[1]	1,664,000,000	1,664,000,000	[1]	690,000,000
Total			252,642,000,000			309,407,000,000
Liabilities
Funds withheld payable under reinsurance treaties	[1]		22,957,000,000			29,007,000,000
Market risk benefit - liabilities		$ 5,662,000,000	5,662,000,000	[1]	$ 8,033,000,000	8,033,000,000	[1]	$ 10,690,000,000
Total			9,286,000,000			13,278,000,000
Freestanding derivative instruments	[1]		2,065,000,000			41,000,000
Derivatives related to funds withheld under reinsurance treaties
Liabilities
Freestanding derivative instruments			19,000,000			126,000,000
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Liabilities
Freestanding derivative instruments			0			120,000,000
Level 3
Assets
Equity securities			1,000,000			2,000,000
Mortgage loans, at fair value under fair value option			582,000,000
Limited partnerships			14,000,000			1,000,000
Policy loans			3,419,000,000			3,467,000,000
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)			4,865,000,000			1,664,000,000
Total			9,102,000,000			5,517,000,000
Liabilities
Funds withheld payable under reinsurance treaties			424,000,000			3,759,000,000
Market risk benefit - liabilities			5,662,000,000			8,033,000,000
Total			6,086,000,000			11,792,000,000
Freestanding derivative instruments			0			0
Level 3 | Internal
Assets
Equity securities			1,000,000			1,000,000
Mortgage loans, at fair value under fair value option			0
Limited partnerships			8,000,000			1,000,000
Policy loans			3,419,000,000			3,467,000,000
Reinsurance recoverable on market risk benefits			221,000,000			383,000,000
Market risk benefit - (assets)			4,865,000,000			1,664,000,000
Total			8,514,000,000			5,516,000,000
Liabilities
Funds withheld payable under reinsurance treaties			424,000,000			3,759,000,000
Market risk benefit - liabilities			5,662,000,000			8,033,000,000
Total			6,086,000,000			11,792,000,000
Level 3 | External
Assets
Equity securities			0			1,000,000
Mortgage loans, at fair value under fair value option			582,000,000
Limited partnerships			6,000,000			0
Policy loans			0			0
Reinsurance recoverable on market risk benefits			0			0
Market risk benefit - (assets)			0			0
Total			588,000,000			1,000,000
Liabilities
Funds withheld payable under reinsurance treaties			0			0
Market risk benefit - liabilities			0			0
Total			$ 0			$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information on Significant Internally-Priced Level 3 Assets and Liabilities (Details)	Jan. 01, 2023 USD ($)	Dec. 31, 2022 USD ($)		Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)		Jan. 01, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reinsurance recoverable on market risk benefits	$ 29,076,000,000	$ 29,076,000,000	[1]	$ 32,877,000,000	$ 32,877,000,000	[1]	$ 35,156,000,000
Market risk benefit - (assets)	4,865,000,000	4,865,000,000	[1]	1,664,000,000	1,664,000,000	[1]	690,000,000
Market risk benefit - liabilities	$ 5,662,000,000	5,662,000,000	[1]	$ 8,033,000,000	8,033,000,000	[1]	$ 10,690,000,000
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reinsurance recoverable on market risk benefits		221,000,000			383,000,000
Market risk benefit - (assets)		4,865,000,000			1,664,000,000
Market risk benefit - liabilities		5,662,000,000			8,033,000,000
Level 3 | Discounted cash flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reinsurance recoverable on market risk benefits		221,000,000			383,000,000
Market risk benefit - (assets)		4,865,000,000
Market risk benefit - liabilities		$ 5,662,000,000			$ 8,033,000,000
Level 3 | Minimum | Discounted cash flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.0001			0.0001
Market risk benefit, assets, measurement input		0.0001			0.0001
Market risk benefit, liabilities, measurement input		0.0001			0.0001
Level 3 | Minimum | Discounted cash flow | Lapse
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.0297			0.0333
Market risk benefit, assets, measurement input		0.0005			0.0007
Market risk benefit, liabilities, measurement input		0.0005			0.0007
Level 3 | Minimum | Discounted cash flow | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0			0
Market risk benefit, assets, measurement input		0			0
Market risk benefit, liabilities, measurement input		0			0
Level 3 | Minimum | Discounted cash flow | Withdrawal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.4750			0.3750
Market risk benefit, assets, measurement input		0.1125			0.1125
Market risk benefit, liabilities, measurement input		0.1125			0.1125
Level 3 | Minimum | Discounted cash flow | Nonperformance risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.0064			0.0011
Market risk benefit, assets, measurement input		0.0064			0.0011
Market risk benefit, liabilities, measurement input		0.0064			0.0011
Level 3 | Minimum | Discounted cash flow | Long-term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.1850			0.1850
Market risk benefit, assets, measurement input		0.1850			0.1850
Market risk benefit, liabilities, measurement input		0.1850			0.1850
Level 3 | Maximum | Discounted cash flow | Mortality
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.2333			0.2342
Market risk benefit, assets, measurement input		0.2333			0.2342
Market risk benefit, liabilities, measurement input		0.2333			0.2342
Level 3 | Maximum | Discounted cash flow | Lapse
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.0810			0.0904
Market risk benefit, assets, measurement input		0.4128			0.3088
Market risk benefit, liabilities, measurement input		0.4128			0.3088
Level 3 | Maximum | Discounted cash flow | Utilization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.2000			0.2000
Market risk benefit, assets, measurement input		1			1
Market risk benefit, liabilities, measurement input		1			1
Level 3 | Maximum | Discounted cash flow | Withdrawal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.5250			0.4500
Market risk benefit, assets, measurement input		1			1
Market risk benefit, liabilities, measurement input		1			1
Level 3 | Maximum | Discounted cash flow | Nonperformance risk
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.0227			0.0150
Market risk benefit, assets, measurement input		0.0227			0.0150
Market risk benefit, liabilities, measurement input		0.0227			0.0150
Level 3 | Maximum | Discounted cash flow | Long-term Equity Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
GMB reinsurance recoverable, measurement input		0.2368			0.2206
Market risk benefit, assets, measurement input		0.2368			0.2206
Market risk benefit, liabilities, measurement input		0.2368			0.2206
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Rollforwards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Purchases, sales, issuances and settlements	$ 512
Transfers in and/or (out of ) Level 3	14	$ 0
Funds withheld payable under reinsurance treaties
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	(3,759)	(4,453)
Total Realized/Unrealized Gains (Losses) Included in Net Income	3,249	708
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	86	(14)
Transfers in and/or (out of ) Level 3	0	0
Fair Value	(424)	(3,759)
Market Risk Benefit, Liability Amount
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	(8,033)	(10,690)
Total Realized/Unrealized Gains (Losses) Included in Net Income	497	3,081
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	1,874	(424)
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	(5,662)	(8,033)
Equity securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	2	2
Total Realized/Unrealized Gains (Losses) Included in Net Income	(1)	0
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	1	2
Mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	0
Total Realized/Unrealized Gains (Losses) Included in Net Income	(7)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0
Purchases, sales, issuances and settlements	589
Transfers in and/or (out of ) Level 3	0
Fair Value	582	0
Limited partnerships
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	1	1
Total Realized/Unrealized Gains (Losses) Included in Net Income	(1)	0
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	14	0
Fair Value	14	1
Reinsurance recoverable on market risk benefits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	383	472
Total Realized/Unrealized Gains (Losses) Included in Net Income	(162)	(89)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	221	383
Market risk benefit assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	1,664	690
Total Realized/Unrealized Gains (Losses) Included in Net Income	3,201	974
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	0	0
Transfers in and/or (out of ) Level 3	0	0
Fair Value	4,865	1,664
Policy loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value	3,467	3,454
Total Realized/Unrealized Gains (Losses) Included in Net Income	29	(2)
Total Realized/Unrealized Gains (Losses) Included in Other Comprehensive Income	0	0
Purchases, sales, issuances and settlements	(77)	15
Transfers in and/or (out of ) Level 3	0	0
Fair Value	$ 3,419	$ 3,467

Fair Value Measurements - Purch

Fair Value Measurements - Purchases, Sales, Issuances and Settlements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	$ 632
Sales	(43)
Issuances	215
Settlements	(292)
Total	512
Funds withheld payable under reinsurance treaties
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	0	$ 0
Sales	0	0
Issuances	(222)	(468)
Settlements	308	454
Total	86	(14)
Mortgage loans
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	632
Sales	(43)
Issuances	0
Settlements	0
Total	589
Policy loans
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases	0	0
Sales	0	0
Issuances	215	261
Settlements	(292)	(246)
Total	$ (77)	$ 15

Fair Value Measurements - Gains

Fair Value Measurements - Gains (Losses) by Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Funds withheld payable under reinsurance treaties
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	$ 3,249	$ 708
Included in OCI	0	0
Market Risk Benefit, Liability Amount
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	497	3,081
Included in OCI	1,874	(424)
Equity securities
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(1)	0
Included in OCI	0	0
Mortgage loans
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(7)	0
Included in OCI	0	0
Limited partnerships
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(1)	0
Included in OCI	0	0
Reinsurance recoverable on market risk benefits
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	(162)	(89)
Included in OCI	0	0
Market risk benefit assets
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	3,201	974
Included in OCI	0	0
Policy loans
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Included in Net Income	29	(2)
Included in OCI	$ 0	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments Not Reported at Fair Value (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Mortgage loans		$ 10,967	$ 11,482
Policy loans		957	1,007
FHLBI capital stock		146	125
Receivables from affiliates	[1]	179	197
Liabilities
Annuity reserves		36,008	36,084
Reserves for guaranteed investment contracts		1,128	894
Trust instruments supported by funding agreements		5,887	5,986
FHLB funding agreements		2,004	1,950
Funds withheld payable under reinsurance treaties (3)		22,533	24,533
Long-term debt		470	494
Securities lending payable		33	14
Repurchase agreements		1,012	1,572
Separate account liabilities	[1]	195,906	248,949
Limited partnership investments measured at NAV			715
Fair Value
Assets
Mortgage loans		10,259	11,910
Policy loans		957	1,007
FHLBI capital stock		146	125
Receivables from affiliates		179	197
Liabilities
Annuity reserves		31,077	44,391
Reserves for guaranteed investment contracts		1,099	923
Trust instruments supported by funding agreements		5,760	6,175
FHLB funding agreements		2,104	1,938
Funds withheld payable under reinsurance treaties (3)		22,533	24,533
Long-term debt		492	563
Securities lending payable		33	14
Repurchase agreements		1,012	1,572
Separate account liabilities		195,906	248,949
Fair Value | Level 1
Assets
Mortgage loans		0	0
Policy loans		0	0
FHLBI capital stock		146	125
Receivables from affiliates		0	0
Liabilities
Annuity reserves		0	0
Reserves for guaranteed investment contracts		0	0
Trust instruments supported by funding agreements		0	0
FHLB funding agreements		0	0
Funds withheld payable under reinsurance treaties (3)		0	537
Long-term debt		0	0
Securities lending payable		0	0
Repurchase agreements		0	0
Separate account liabilities		0	0
Fair Value | Level 2
Assets
Mortgage loans		0	0
Policy loans		0	0
FHLBI capital stock		0	0
Receivables from affiliates		0	0
Liabilities
Annuity reserves		0	0
Reserves for guaranteed investment contracts		0	0
Trust instruments supported by funding agreements		0	0
FHLB funding agreements		0	0
Funds withheld payable under reinsurance treaties (3)		0	19,127
Long-term debt		334	386
Securities lending payable		33	14
Repurchase agreements		1,012	1,572
Separate account liabilities		195,906	248,949
Fair Value | Level 3
Assets
Mortgage loans		10,259	11,910
Policy loans		957	1,007
FHLBI capital stock		0	0
Receivables from affiliates		179	197
Liabilities
Annuity reserves		31,077	44,391
Reserves for guaranteed investment contracts		1,099	923
Trust instruments supported by funding agreements		5,760	6,175
FHLB funding agreements		2,104	1,938
Funds withheld payable under reinsurance treaties (3)		22,533	4,869
Long-term debt		158	177
Securities lending payable		0	0
Repurchase agreements		0	0
Separate account liabilities		$ 0	$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Deferred Acquisition Costs an_3

Deferred Acquisition Costs and Deferred Sales Inducements - Rollforward of Deferred Acquisition Costs (Details) - USD ($) $ in Thousands					12 Months Ended
	Jan. 01, 2023		Jan. 01, 2022		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	$ 12,918,000	[1]	$ 13,519,000	[1]	$ 13,519,000	[1]	$ 13,897,000		$ 12,334,000
Deferrals of acquisition costs									739,000
Amortization of deferred acquisition costs	1,225,000		1,305,000						534,000
Balance, end of period	12,918,000		13,519,000		12,918,000	[1]	13,519,000	[1]	13,897,000
Other product lines, end of period					219,000		155,000
Total balance, end of period					12,918,000		13,519,000
Variable Annuity
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period	$ 12,699,000		13,364,000		13,364,000		13,725,000
Deferrals of acquisition costs					544,000		779,000
Amortization of deferred acquisition costs					(1,209,000)		(1,291,000)
Balance, end of period					12,699,000		13,364,000		13,725,000
Variable Annuity | Change in accounting principle
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance, beginning of period			$ 0		$ 0		151,000
Balance, end of period							$ 0		$ 151,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Deferred Acquisition Costs an_4

Deferred Acquisition Costs and Deferred Sales Inducements - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Insurance [Abstract]
Write-off of deferred acquisition costs	$ 626
Write-off of deferred sales inducement costs	$ 138

Deferred Acquisition Costs an_5

Deferred Acquisition Costs and Deferred Sales Inducements - Rollforward of Deferred Acquisition Costs Before Adoption (Details) - USD ($) $ in Millions					12 Months Ended
	Jan. 01, 2023		Jan. 01, 2022		Dec. 31, 2022	[1]	Dec. 31, 2021		Dec. 31, 2020
Insurance [Abstract]
Balance, beginning of period	$ 12,918	[1]	$ 13,519	[1]	$ 13,519		$ 13,897		$ 12,334
Deferrals of acquisition costs									739
Amortization of deferred acquisition costs	1,225		1,305						534
Unrealized investment (gains) losses									290
Balance, end of period	$ 12,918		$ 13,519		$ 12,918		$ 13,519	[1]	$ 13,897
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Deferred Acquisition Costs an_6

Deferred Acquisition Costs and Deferred Sales Inducements - Deferred Sales Inducements Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	$ 80	$ 77	$ 130
Deferrals of sales inducements	4	8	3
Amortization	(8)	(8)	(144)
Unrealized investment losses (gains)			(88)
Balance, end of year	76	80	77
Change in accounting principle
Movement in Deferred Sales Inducements [Roll Forward]
Balance, beginning of year	$ 0	3
Balance, end of year		$ 0	$ 3

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jun. 18, 2020	Dec. 31, 2022	Dec. 31, 2021
Effects of Reinsurance [Line Items]
Reinsurance agreement, ceding commission			$ 1,202
Reinsurance recoverable, allowance for credit losses		$ 15	12
Athene
Effects of Reinsurance [Line Items]
Reinsurance quota share basis	100%	100%
Reinsurance agreement, ceding commission	$ 1,200
Reserves established		$ 25,600
Assets held as collateral		$ 19,400	$ 25,400
SRZ
Effects of Reinsurance [Line Items]
Coinsurance percentage		100%
Letter of credit | Athene
Effects of Reinsurance [Line Items]
Trust account assets		$ 212

Reinsurance - Effects of Coinsu

Reinsurance - Effects of Coinsurance Agreement (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Insurance [Abstract]
Contractual ceding commission	$ 1,202
Cost of reinsurance write-off	(2,520)
DAC and DSI write-off	(764)
Total pretax loss on Athene Reinsurance Transaction	(2,082)
Reinsurance assets written off	30,100
Reinsurance ceded reserves	$ 27,600

Reinsurance - Effects on Premiu

Reinsurance - Effects on Premiums and Benefits (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Premiums
Direct									$ 360		$ 407		$ 336
Assumed									40		42		47
Ceded									(291)		(327)		(226)
Total premium	$ 22	$ 30	$ 26	$ 31	$ 30	$ 30	$ 31	$ 31	109	[1]	122	[1]	157
Benefits
Direct									1,687		1,466		1,568
Assumed									868		879		749
Ceded									(920)		(827)		(663)
Change in reserves, net of reinsurance									(600)		(614)		(341)
Total benefits									$ 1,035		$ 949		$ 1,313
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reinsurance - Components of Rei

Reinsurance - Components of Reinsurance Recoverable (Details) - USD ($) $ in Millions	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Reserves:
Claims liability and other product lines		$ 795			$ 844
Total	$ 29,076	29,076	[1]	$ 32,877	32,877	[1]	$ 35,156
Other annuity benefits
Reserves:
Reserves		22,478			25,580
Life
Reserves:
Reserves		5,321			5,741
Accident and health
Reserves:
Reserves		$ 482			$ 712
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reinsurance - Components of Com

Reinsurance - Components of Company's Reinsurance Recoverable on Market Risk Benefits (Details) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Effects of Reinsurance [Line Items]
Reinsurance recoverable on market risk benefits, at fair value	$ 221,000	$ 221,000	[1]	$ 383,000	$ 383,000	[1]	$ 472,000
Variable Annuity
Effects of Reinsurance [Line Items]
Reinsurance recoverable on market risk benefits, at fair value		183,000			284,000		368,000
Other product lines
Effects of Reinsurance [Line Items]
Reinsurance recoverable on market risk benefits, at fair value		$ 38,000			$ 99,000		$ 104,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reinsurance - Assets and Liabil

Reinsurance - Assets and Liabilities Held in Support of Reserves (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Total assets, net		$ 23,226	$ 28,892
Liabilities
Total liabilities	[1]	22,957	29,007
Derivatives related to funds withheld under reinsurance treaties
Liabilities
Net fair value, derivative asset (liability)		3,236	(83)
Funds withheld embedded derivative | Derivatives related to funds withheld under reinsurance treaties
Liabilities
Net fair value, derivative asset (liability)		3,158	(120)
Debt securities, available-for-sale
Assets
Total assets, net		13,622	19,094
Debt securities, at fair value under the fair value option
Assets
Total assets, net		159	164
Equity securities
Assets
Total assets, net		77	116
Mortgage loans
Assets
Total assets, net		4,127	4,739
Mortgage loans
Assets
Total assets, net		582	0
Policy loans
Assets
Total assets, net		3,435	3,483
Freestanding derivative instruments, net
Assets
Total assets, net		78	37
Limited partnerships
Assets
Total assets, net		793	715
Cash and cash equivalents
Assets
Total assets, net		260	438
Accrued investment income
Assets
Total assets, net		166	162
Other assets and liabilities, net
Assets
Total assets, net		(73)	(56)
Funds held under reinsurance treaties
Liabilities
Total liabilities		$ 22,957	$ 29,007
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reinsurance - Sources of Income

Reinsurance - Sources of Income Related to Funds Withheld Under Reinsurance Treaties (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Effects of Reinsurance [Line Items]
Other investment expenses on funds withheld assets									$ (89,000)		$ (84,000)		$ (94,000)
Net investment income	$ 695,000	$ 648,000	$ 719,000	$ 658,000	$ 797,000	$ 771,000	$ 744,000	$ 828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									1,339,000		1,295,000		858,000
Other investment expenses on funds withheld assets									(85,000)		(107,000)		(66,000)
Net investment income									1,254,000		1,188,000		792,000
Debt securities | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									680,000		762,000		490,000
Equity securities | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									(34,000)		5,000		2,000
Mortgage loans | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									231,000		179,000		51,000
Policy loans | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									312,000		314,000		315,000
Limited partnerships | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									149,000		35,000		0
Other invested assets | Funds withheld assets
Effects of Reinsurance [Line Items]
Total investment income on funds withheld assets									1,000		0		0
Debt securities, at fair value under the fair value option | Funds withheld assets
Effects of Reinsurance [Line Items]
Investment Income, Operating, Net									(10,000)		(3,000)		2,000
Mortgage loans | Funds withheld assets
Effects of Reinsurance [Line Items]
Investment Income, Operating, Net									$ (7,000)		$ 0		$ 0
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reinsurance - Gains and Losses

Reinsurance - Gains and Losses on Funds Withheld Reinsurance Treaties (Details) - USD ($) $ in Millions			12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Available-for-sale securities
Realized gains on sale			$ 41		$ 168		$ 772
Realized losses on sale			(425)		(88)		(195)
Credit loss expense			(54)		(2)
Credit loss expense on mortgage loans			(1)		85
Net gains (losses) on derivative instruments	$ (2,663)	$ (5,527)	(2,663)	[1]	(5,527)	[1]	(7,267)
Net gains (losses) on funds withheld payable under reinsurance treaties			2,186	[1]	(21)	[1]	440
Embedded derivative gain (loss)			708		(4,763)		(8,322)
Funds withheld assets
Available-for-sale securities
Realized gains on sale			43		536		2,074
Realized losses on sale			(54)		(52)		(12)
Credit loss expense			(26)		(1)		0
Gross impairments			0		0		(2)
Credit loss expense on mortgage loans			15		23		(47)
Other			(62)		(29)		4
Net gains (losses) on non-derivative investments			(84)		477		2,017
Net gains (losses) on derivative instruments			93		58		(228)
Net gains (losses) on funds withheld payable under reinsurance treaties			2,177		(556)		(1,349)
Total net gains (losses) on derivatives and investments			2,186		(21)		440
Derivatives related to funds withheld under reinsurance treaties
Available-for-sale securities
Embedded derivative gain (loss)			3,371		764		(1,055)
Derivatives related to funds withheld under reinsurance treaties | Funds withheld embedded derivative
Available-for-sale securities
Embedded derivative gain (loss)			$ 3,278		$ 707		$ (827)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reserves for Future Policy Be_3

Reserves for Future Policy Benefits and Claims Payable - Reserve for Future Policy Benefits and Claims Payable Balances (Details) - USD ($)	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		$ 9,632,000,000			$ 12,434,000,000
Other future policy benefits and claims payable		1,537,000,000			1,570,000,000
Reserves for future policy benefits and claims payable	$ 12,300,000,000	12,300,000,000	[1]	$ 15,177,000,000	15,177,000,000	[1]	$ 16,774,000,000
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		1,037,000,000			1,246,000,000
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		4,161,000,000			5,449,000,000
Other future policy benefits and claims payable		1,131,000,000			1,173,000,000
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		$ 4,434,000,000			$ 5,739,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Reserves for Future Policy Be_4

Reserves for Future Policy Benefits and Claims Payable - Balances of and Changes in Liability for Future Policy Benefits (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
GMIB reserves before reinsurance	$ 9,632,000,000	$ 12,434,000,000
Less: Reinsurance recoverable			$ 35,156,000,000
Reserves for future policy benefits and claims payable at January 1, 2021				$ 16,774,000,000
Payout Annuity
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	0	0
Beginning of period cumulative effect of changes in discount rate assumptions	0	0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions		0		0
Effect of actual variances from expected experience		0		0
Balance adjusted for variances from expectation		0		0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending balance at original discount rate	0	0
End of period cumulative effect of changes in discount rate assumptions	0	0
Balance, end of year	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	1,246,000,000	1,293,000,000
Beginning of period cumulative effect of changes in discount rate assumptions	(84,000,000)	(144,000,000)
Beginning balance at original discount rate	1,162,000,000	1,149,000,000
Beginning balance, including deferred profit liability	38,000,000	46,000,000
Effect of changes in cash flow assumptions		4,000,000		0
Effect of actual variances from expected experience		(38,000,000)		(53,000,000)
Balance adjusted for variances from expectation		1,128,000,000		1,096,000,000
Issuances	126,000,000	146,000,000
Interest accrual	40,000,000	42,000,000
Benefits payments	(126,000,000)	(122,000,000)
Ending balance at original discount rate	1,168,000,000	1,162,000,000
Ending balance, including deferred profit liability	40,000,000	38,000,000
End of period cumulative effect of changes in discount rate assumptions	(131,000,000)	84,000,000
Balance, end of year	1,037,000,000	1,246,000,000
GMIB reserves before reinsurance	1,037,000,000	1,246,000,000
Less: Reinsurance recoverable	71,000,000	51,000,000
Reserves for future policy benefits and claims payable at January 1, 2021	966,000,000	1,195,000,000
Closed Block Life
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	1,464,000,000	1,440,000,000
Beginning of period cumulative effect of changes in discount rate assumptions	(157,000,000)	(191,000,000)
Beginning balance at original discount rate	1,307,000,000	1,249,000,000
Effect of changes in cash flow assumptions		242,000,000		0
Effect of actual variances from expected experience		1,000,000		146,000,000
Balance adjusted for variances from expectation		1,550,000,000		1,395,000,000
Issuances	6,000,000	4,000,000
Interest accrual	39,000,000	48,000,000
Net premiums collected	(147,000,000)	(140,000,000)
Ending balance at original discount rate	1,448,000,000	1,307,000,000
End of period cumulative effect of changes in discount rate assumptions	(161,000,000)	157,000,000
Balance, end of year	1,287,000,000	1,464,000,000
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	6,913,000,000	7,647,000,000
Beginning of period cumulative effect of changes in discount rate assumptions	(349,000,000)	(660,000,000)
Beginning balance at original discount rate	6,564,000,000	6,987,000,000
Effect of changes in cash flow assumptions		331,000,000		0
Effect of actual variances from expected experience		38,000,000		193,000,000
Balance adjusted for variances from expectation		6,933,000,000		7,180,000,000
Issuances	14,000,000	12,000,000
Interest accrual	209,000,000	220,000,000
Benefits payments	(750,000,000)	(848,000,000)
Ending balance at original discount rate	6,406,000,000	6,564,000,000
End of period cumulative effect of changes in discount rate assumptions	(958,000,000)	349,000,000
Balance, end of year	5,448,000,000	6,913,000,000
GMIB reserves before reinsurance	4,161,000,000	5,449,000,000
Less: Reinsurance recoverable	2,263,000,000	2,855,000,000
Reserves for future policy benefits and claims payable at January 1, 2021	1,898,000,000	2,594,000,000
Closed Block Annuity
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Balance, beginning of year	0	0
Beginning of period cumulative effect of changes in discount rate assumptions	0	0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions		0		0
Effect of actual variances from expected experience		0		0
Balance adjusted for variances from expectation		0		0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending balance at original discount rate	0	0
End of period cumulative effect of changes in discount rate assumptions	0	0
Balance, end of year	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Balance, beginning of year	5,739,000,000	6,343,000,000
Beginning of period cumulative effect of changes in discount rate assumptions	(689,000,000)	(997,000,000)
Beginning balance at original discount rate	5,050,000,000	5,346,000,000
Beginning balance, including deferred profit liability	459,000,000	452,000,000
Effect of changes in cash flow assumptions		(15,000,000)		0
Effect of actual variances from expected experience		(34,000,000)		(3,000,000)
Balance adjusted for variances from expectation		5,001,000,000		$ 5,343,000,000
Issuances	4,000,000	6,000,000
Interest accrual	210,000,000	222,000,000
Benefits payments	(506,000,000)	(521,000,000)
Ending balance at original discount rate	4,709,000,000	5,050,000,000
Ending balance, including deferred profit liability	671,000,000	459,000,000
End of period cumulative effect of changes in discount rate assumptions	(275,000,000)	689,000,000
Balance, end of year	4,434,000,000	5,739,000,000
GMIB reserves before reinsurance	4,434,000,000	5,739,000,000
Less: Reinsurance recoverable	2,000,000	2,000,000
Reserves for future policy benefits and claims payable at January 1, 2021	$ 4,432,000,000	$ 5,737,000,000

Reserves for Future Policy Be_5

Reserves for Future Policy Benefits and Claims Payable - Weighted Average Duration (Details)	Dec. 31, 2022	Dec. 31, 2021
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration (years)	6 years 10 months 24 days	7 years 9 months 18 days
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration (years)	7 years 9 months 18 days	9 years 6 months
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration (years)	7 years	8 years 6 months

Reserves for Future Policy Be_6

Reserves for Future Policy Benefits and Claims Payable - Undiscounted and Discounted Expected Future Gross Premiums (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments, undiscounted	$ 1,541,000,000	$ 1,525,000,000
Expected future benefit payments, discounted	999,000,000	1,209,000,000
Expected future gross premiums, undiscounted	0	0
Expected future gross premiums, discounted	0	0
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments, undiscounted	8,751,000,000	8,853,000,000
Expected future benefit payments, discounted	5,578,000,000	7,050,000,000
Expected future gross premiums, undiscounted	5,976,000,000	6,174,000,000
Expected future gross premiums, discounted	3,489,000,000	4,611,000,000
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments, undiscounted	5,834,000,000	6,799,000,000
Expected future benefit payments, discounted	3,729,000,000	5,256,000,000
Expected future gross premiums, undiscounted	0	0
Expected future gross premiums, discounted	$ 0	$ 0

Reserves for Future Policy Be_7

Reserves for Future Policy Benefits and Claims Payable - Revenue and Interest Related to Non-Participating Contracts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	$ 400,000,000	$ 449,000,000
Interest Expense	420,000,000	436,000,000
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	10,000,000	16,000,000
Interest Expense	40,000,000	42,000,000
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	390,000,000	433,000,000
Interest Expense	170,000,000	172,000,000
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premiums	0	0
Interest Expense	$ 210,000,000	$ 222,000,000

Reserves for Future Policy Be_8

Reserves for Future Policy Benefits and Claims Payable - Weighted Average Interest Rates for Future Policy Benefits (Details)	Dec. 31, 2022	Dec. 31, 2021
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.71%	3.63%
Current discount rate	5.40%	2.58%
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.01%	3.10%
Current discount rate	5.34%	2.63%
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.40%	4.40%
Current discount rate	5.41%	2.65%

Reserves for Future Policy Be_9

Reserves for Future Policy Benefits and Claims Payable - Rollforward of Additional Liabilities, Closed Block Life (Details) - Closed Block Life - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of year	$ 1,159,000,000	$ 1,148,000,000
Effect of changes in cash flow assumptions	6,000,000	0
Effect of expected policyholder behavior	58,000,000	57,000,000
Issuances	0	0
Interest accrual	56,000,000	56,000,000
Net assessments collected	(107,000,000)	(102,000,000)
Effect of changes in interest rates	0	0
Balance, end of year	1,172,000,000	1,159,000,000
As Previously Reported
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of year	1,173,000,000	1,185,000,000
Balance, end of year	1,131,000,000	1,173,000,000
Adjustment for reversal of AOCI adjustments
Additional Liability, Long-Duration Insurance [Roll Forward]
Balance, beginning of year	14,000,000	37,000,000
Balance, end of year	$ (41,000,000)	$ 14,000,000

Reserves for Future Policy B_10

Reserves for Future Policy Benefits and Claims Payable - Weighted Average Duration, Closed Block Life (Details)	Dec. 31, 2022	Dec. 31, 2021
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average duration (years)	8 years 1 month 6 days	7 years 8 months 12 days

Reserves for Future Policy B_11

Reserves for Future Policy Benefits and Claims Payable - Assessments and Interest Expense, Closed Block Life (Details) - Closed Block Life - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Net assessments collected	$ (107,000)	$ (102,000)
Interest accrual	$ 56,000	$ 56,000

Reserves for Future Policy B_12

Reserves for Future Policy Benefits and Claims Payable - Weighted Average Current Discount Rate, Closed Block Life (Details)	Dec. 31, 2022	Dec. 31, 2021
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Weighted average current discount rate	4.96%	4.93%

Other Contract Holder Funds - A

Other Contract Holder Funds - Additional Information (Details)		Dec. 31, 2022 USD ($) state	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Liability for Future Policy Benefit, Activity [Line Items]
Debt carrying value	[1]	$ 470,000,000	$ 494,000,000
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock		146,000,000	125,000,000
Funding agreements		2,100,000,000	2,000,000,000
Mortgage loans, net of allowance for credit losses of $95 and $94 at December 31, 2022 and 2021, respectively	[1]	10,967,000,000	11,482,000,000
Mortgage loans, allowance for credit loss		95,000,000	94,000,000	$ 179,000,000
Financing receivables, accrued interest receivable		48,000,000	44,000,000
Commercial mortgage loans
Liability for Future Policy Benefit, Activity [Line Items]
Mortgage loans, net of allowance for credit losses of $95 and $94 at December 31, 2022 and 2021, respectively		10,200,000,000	10,500,000,000
Mortgage loans, allowance for credit loss		$ 91,000,000	85,000,000
Financing receivables, collateralized by properties, number of states | state		38
Financing receivables, accrued interest receivable		$ 39,000,000	32,000,000
Residential mortgage loans
Liability for Future Policy Benefit, Activity [Line Items]
Mortgage loans, net of allowance for credit losses of $95 and $94 at December 31, 2022 and 2021, respectively		1,308,000,000	939,000,000
Mortgage loans, allowance for credit loss		$ 4,000,000	9,000,000
Financing receivables, collateralized by properties, number of states | state		50
Financing receivables, accrued interest receivable		$ 9,000,000	$ 13,000,000
At Guaranteed Minimum | All Annuity Accounts
Liability for Future Policy Benefit, Activity [Line Items]
Account values, percentage		92%	93%
At Guaranteed Minimum | Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Account values, percentage		65%	65%
Fair Value
Liability for Future Policy Benefit, Activity [Line Items]
Federal Home Loan Bank of Indianapolis ("FHLBI") capital stock		$ 146,000,000	$ 125,000,000
Global Medium Term Note | Medium term notes
Liability for Future Policy Benefit, Activity [Line Items]
Debt face amount		27,000,000,000
Debt carrying value		$ 5,900,000,000	$ 6,000,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Other Contract Holder Funds - L

Other Contract Holder Funds - Liabilities for Other Contract Holder Funds (Details) - USD ($) $ in Millions	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds	$ 57,980	$ 57,980	[1]	$ 58,489	$ 58,489	[1]	$ 63,342
Payout Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		835			830
Variable Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		10,259			9,456
Fixed Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		11,481			12,947
Fixed Indexed Annuities
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		11,787			13,161
RILA
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		1,875			110
Closed Block Life
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		11,215			11,570
Closed Block Annuity
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		1,319			1,394
Institutional Products
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		9,019			8,830
Other Product Lines
Liability for Future Policy Benefit, Activity [Line Items]
Total other contract holder funds		$ 190			$ 191
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Other Contract Holder Funds - R

Other Contract Holder Funds - Rollforward of Other Contract Holder Funds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Payout Annuity
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	$ 830,000	$ 837,000
Deposits	213,000	203,000
Surrenders, withdrawals and benefits	230,000	230,000
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	0	0
Interest credited	20,000	24,000
Policy charges and other	2,000	(4,000)
Balance as of ending of year	835,000	830,000
Variable Annuity
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	9,456,000	10,094,000
Deposits	1,350,000	1,490,000
Surrenders, withdrawals and benefits	1,492,000	1,816,000
Net transfers from (to) separate accounts	870,000	(384,000)
Investment performance / change in value of equity option	0	0
Interest credited	168,000	165,000
Policy charges and other	(93,000)	(93,000)
Balance as of ending of year	10,259,000	9,456,000
Fixed Annuity
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	12,947,000	13,751,000
Deposits	275,000	204,000
Surrenders, withdrawals and benefits	1,988,000	1,295,000
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	0	0
Interest credited	382,000	395,000
Policy charges and other	(135,000)	(108,000)
Balance as of ending of year	11,481,000	12,947,000
Fixed Indexed Annuities
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	13,161,000	14,028,000
Deposits	126,000	117,000
Surrenders, withdrawals and benefits	1,414,000	1,464,000
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	302,000	(242,000)
Interest credited	238,000	259,000
Policy charges and other	(22,000)	(21,000)
Balance as of ending of year	11,787,000	13,161,000
RILA
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	110,000	0
Deposits	1,811,000	108,000
Surrenders, withdrawals and benefits	8,000	0
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	37,000	(1,000)
Interest credited	2,000	0
Policy charges and other	(3,000)	1,000
Balance as of ending of year	1,875,000	110,000
Closed Block Life
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	11,570,000	11,836,000
Deposits	320,000	342,000
Surrenders, withdrawals and benefits	766,000	699,000
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	0	0
Interest credited	659,000	669,000
Policy charges and other	(568,000)	(578,000)
Balance as of ending of year	11,215,000	11,570,000
Closed Block Annuity
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	1,394,000	1,456,000
Deposits	9,000	11,000
Surrenders, withdrawals and benefits	118,000	120,000
Net transfers from (to) separate accounts	0	0
Investment performance / change in value of equity option	0	0
Interest credited	48,000	48,000
Policy charges and other	(14,000)	(1,000)
Balance as of ending of year	1,319,000	1,394,000
Total excluding institutional and other product lines
Policyholder Account Balance [Roll Forward]
Balance as of beginning of year	49,468,000	52,002,000
Deposits	4,104,000	2,475,000
Surrenders, withdrawals and benefits	6,016,000	5,624,000
Net transfers from (to) separate accounts	870,000	(384,000)
Investment performance / change in value of equity option	339,000	(243,000)
Interest credited	1,517,000	1,560,000
Policy charges and other	(833,000)	(804,000)
Balance as of ending of year	$ 48,771,000	$ 49,468,000

Other Contract Holder Funds - W

Other Contract Holder Funds - Weighted Average Crediting Rate, Net Amount at Risk and Cash Surrender Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Payout Annuity
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	2.40%	2.89%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 0	$ 0
Variable Annuity
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	1.64%	1.74%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 10,101	$ 9,329
Fixed Annuity
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	3.33%	3.05%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 11,360	$ 12,767
Fixed Indexed Annuities
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	2.02%	1.97%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 11,409	$ 12,432
RILA
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	0.11%	0%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 1,728	$ 102
Closed Block Life
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	5.88%	5.78%
Net amount at risk	$ 17,427	$ 18,506
Cash surrender value	$ 7,096	$ 7,367
Closed Block Annuity
Policyholder Account Balance [Line Items]
Weighted-average crediting rate	3.64%	3.44%
Net amount at risk	$ 0	$ 0
Cash surrender value	$ 1,319	$ 1,394

Other Contract Holder Funds -Ac

Other Contract Holder Funds -Account Balances by Guaranteed Minimum Interest Rates (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Variable Annuity
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 10,259,000,000	$ 9,456,000,000
Variable Annuity | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 6,788,000,000	$ 6,001,000,000
Variable Annuity | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
Variable Annuity | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
Variable Annuity | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 200,000,000	$ 206,000,000
Variable Annuity | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
Variable Annuity | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Variable Annuity | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 3,271,000,000	$ 3,249,000,000
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Variable Annuity | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 10,150,000,000	$ 9,419,000,000
Variable Annuity | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	6,679,000,000	5,964,000,000
Variable Annuity | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	200,000,000	206,000,000
Variable Annuity | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	3,271,000,000	3,249,000,000
Variable Annuity | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	32,000,000	34,000,000
Variable Annuity | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	32,000,000	34,000,000
Variable Annuity | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Variable Annuity | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Variable Annuity | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	2,000,000	3,000,000
Variable Annuity | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	2,000,000	3,000,000
Variable Annuity | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Variable Annuity | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Variable Annuity | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	75,000,000	0
Variable Annuity | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	75,000,000	0
Variable Annuity | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Variable Annuity | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Annuity
Policyholder Account Balance [Line Items]
Account values with crediting rates	998,000,000	858,000,000
Fixed Annuity | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 186,000,000	$ 159,000,000
Fixed Annuity | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
Fixed Annuity | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
Fixed Annuity | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 37,000,000	$ 41,000,000
Fixed Annuity | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
Fixed Annuity | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Fixed Annuity | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 775,000,000	$ 658,000,000
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Fixed Annuity | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 419,000,000	$ 292,000,000
Fixed Annuity | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	19,000,000	20,000,000
Fixed Annuity | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	34,000,000	37,000,000
Fixed Annuity | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	366,000,000	235,000,000
Fixed Annuity | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	139,000,000	130,000,000
Fixed Annuity | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	74,000,000	62,000,000
Fixed Annuity | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	2,000,000	2,000,000
Fixed Annuity | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	63,000,000	66,000,000
Fixed Annuity | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	440,000,000	436,000,000
Fixed Annuity | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	93,000,000	77,000,000
Fixed Annuity | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	1,000,000	2,000,000
Fixed Annuity | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	346,000,000	357,000,000
Fixed Annuity | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Annuity | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Annuity | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Annuity | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities
Policyholder Account Balance [Line Items]
Account values with crediting rates	92,000,000	56,000,000
Fixed Indexed Annuities | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 68,000,000	$ 26,000,000
Fixed Indexed Annuities | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
Fixed Indexed Annuities | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
Fixed Indexed Annuities | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
Fixed Indexed Annuities | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
Fixed Indexed Annuities | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Fixed Indexed Annuities | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 24,000,000	$ 30,000,000
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Fixed Indexed Annuities | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 30,000,000	$ 36,000,000
Fixed Indexed Annuities | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	6,000,000	6,000,000
Fixed Indexed Annuities | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	24,000,000	30,000,000
Fixed Indexed Annuities | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	17,000,000	20,000,000
Fixed Indexed Annuities | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	17,000,000	20,000,000
Fixed Indexed Annuities | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	5,000,000	0
Fixed Indexed Annuities | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	5,000,000	0
Fixed Indexed Annuities | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	40,000,000	0
Fixed Indexed Annuities | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	40,000,000	0
Fixed Indexed Annuities | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Fixed Indexed Annuities | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA
Policyholder Account Balance [Line Items]
Account values with crediting rates	17,000,000	1,000,000
RILA | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 17,000,000	$ 1,000,000
RILA | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
RILA | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
RILA | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
RILA | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
RILA | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
RILA | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
RILA | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 10,000,000	$ 1,000,000
RILA | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	10,000,000	1,000,000
RILA | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	7,000,000	0
RILA | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	7,000,000	0
RILA | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
RILA | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life
Policyholder Account Balance [Line Items]
Account values with crediting rates	7,067,000,000	7,347,000,000
Closed Block Life | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
Closed Block Life | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
Closed Block Life | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
Closed Block Life | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
Closed Block Life | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
Closed Block Life | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Closed Block Life | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 7,067,000,000	$ 7,347,000,000
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Closed Block Life | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 4,566,000,000	$ 4,764,000,000
Closed Block Life | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	4,566,000,000	4,764,000,000
Closed Block Life | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	1,868,000,000	1,929,000,000
Closed Block Life | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	1,868,000,000	1,929,000,000
Closed Block Life | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	619,000,000	640,000,000
Closed Block Life | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	619,000,000	640,000,000
Closed Block Life | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	14,000,000	14,000,000
Closed Block Life | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Life | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	14,000,000	14,000,000
Closed Block Annuity
Policyholder Account Balance [Line Items]
Account values with crediting rates	1,171,000,000	1,235,000,000
Closed Block Annuity | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0
Closed Block Annuity | 0.00%-1.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	0%	0%
Closed Block Annuity | 0.00%-1.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.50%	1.50%
Closed Block Annuity | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 11,000,000	$ 11,000,000
Closed Block Annuity | 1.51%-2.50% | Minimum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	1.51%	1.51%
Closed Block Annuity | 1.51%-2.50% | Maximum
Policyholder Account Balance [Line Items]
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Closed Block Annuity | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 1,160,000,000	$ 1,224,000,000
Range of Guaranteed Minimum Crediting Rate	2.50%	2.50%
Closed Block Annuity | At Guaranteed Minimum
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 980,000,000	$ 1,032,000,000
Closed Block Annuity | At Guaranteed Minimum | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | At Guaranteed Minimum | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | At Guaranteed Minimum | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	980,000,000	1,032,000,000
Closed Block Annuity | 1 Basis Point-50 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	159,000,000	171,000,000
Closed Block Annuity | 1 Basis Point-50 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | 1 Basis Point-50 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | 1 Basis Point-50 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	159,000,000	171,000,000
Closed Block Annuity | 51 Basis Points-150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	22,000,000	22,000,000
Closed Block Annuity | 51 Basis Points-150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | 51 Basis Points-150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	1,000,000	1,000,000
Closed Block Annuity | 51 Basis Points-150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	21,000,000	21,000,000
Closed Block Annuity | Greater Than 150 Basis Points Above
Policyholder Account Balance [Line Items]
Account values with crediting rates	10,000,000	10,000,000
Closed Block Annuity | Greater Than 150 Basis Points Above | 0.00%-1.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	0	0
Closed Block Annuity | Greater Than 150 Basis Points Above | 1.51%-2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	10,000,000	10,000,000
Closed Block Annuity | Greater Than 150 Basis Points Above | Greater than 2.50%
Policyholder Account Balance [Line Items]
Account values with crediting rates	$ 0	$ 0

Separate Account Assets and L_3

Separate Account Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Separate Account, Liability [Line Items]
Separate account assets	[1]	$ 195,906,000	$ 248,949,000
Separate account liabilities	[1]	195,906,000	248,949,000
Group variable annuity contract deposit
Separate Account, Liability [Line Items]
Separate account assets		$ 285,000	$ 390,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Separate Account Assets and L_4

Separate Account Assets and Liabilities - Rollforward of the Separate Account Balance for Variable Annuities (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Separate Account, Liability [Roll Forward]
Balance as of beginning of year	[1]	$ 248,949,000
Balance as of end of year, gross	[1]	195,906,000	$ 248,949,000
Variable Annuities
Separate Account, Liability [Roll Forward]
Balance as of beginning of year		248,469,000	218,618,000
Deposits		12,288,000	17,588,000
Surrenders, withdrawals and benefits		(14,554,000)	(18,272,000)
Net transfer from (to) general account		(870,000)	384,000
Investment performance		(47,150,000)	32,621,000
Policy charges and other		(2,633,000)	(2,470,000)
Balance as of end of year, gross		195,550,000	248,469,000
Cash surrender value		$ 190,243,000	$ 242,656,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Separate Account Assets and L_5

Separate Account Assets and Liabilities - Reconciliation of the Separate Account Balance in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Separate Account, Liability [Line Items]
Separate account assets	[1]	$ 195,906,000	$ 248,949,000
Variable Annuities
Separate Account, Liability [Line Items]
Separate account assets		195,550,000	248,469,000
Other Product Lines
Separate Account, Liability [Line Items]
Separate account assets		$ 356,000	$ 480,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Separate Account Assets and L_6

Separate Account Assets and Liabilities - Aggregate Fair Value of Assets, by Major Investment Asset Category (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Fair Value, Separate Account Investment [Line Items]
Separate account assets	[1]	$ 195,906,000	$ 248,949,000
Equity
Fair Value, Separate Account Investment [Line Items]
Separate account assets		132,547,000	171,813,000
Bond
Fair Value, Separate Account Investment [Line Items]
Separate account assets		19,155,000	24,059,000
Balanced
Fair Value, Separate Account Investment [Line Items]
Separate account assets		40,797,000	50,534,000
Money Market
Fair Value, Separate Account Investment [Line Items]
Separate account assets		3,051,000	2,063,000
Variable Annuities
Fair Value, Separate Account Investment [Line Items]
Separate account assets		195,550,000	248,469,000
Other Product Lines
Fair Value, Separate Account Investment [Line Items]
Separate account assets		$ 356,000	$ 480,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Market Risk Benefits - Reconcil

Market Risk Benefits - Reconciliation of the Market Risk Benefits Balance (Details) - USD ($)	Jan. 01, 2023	Dec. 31, 2022		Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Market risk benefit - (assets)	$ 4,865,000,000	$ 4,865,000,000	[1]	$ 1,664,000,000	$ 1,664,000,000	[1]	$ 690,000,000
Market risk benefit - liabilities	$ (5,662,000,000)	(5,662,000,000)	[1]	$ (8,033,000,000)	(8,033,000,000)	[1]	(10,690,000,000)
Market risk benefit - net liabilities		797,000,000			6,369,000,000		10,000,000,000
Variable Annuity
Market Risk Benefit [Line Items]
Market risk benefit - (assets)		4,856,000,000			1,658,000,000
Market risk benefit - liabilities		(5,623,000,000)			(7,939,000,000)
Market risk benefit - net liabilities		767,000,000			6,281,000,000		9,908,000,000	$ 9,908,000,000
Other product lines
Market Risk Benefit [Line Items]
Market risk benefit - (assets)		9,000,000			6,000,000
Market risk benefit - liabilities		(39,000,000)			(94,000,000)
Market risk benefit - net liabilities		$ 30,000,000			$ 88,000,000		$ 92,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Market Risk Benefits - Rollforw

Market Risk Benefits - Rollforward of the Net (Assets) Liabilities of the Market Risk Benefits for Variable Annuities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Jan. 01, 2023	Jan. 01, 2022	Jan. 01, 2021	Dec. 31, 2020
Market Risk Benefit [Roll Forward]
Net liability balance, beginning of year	$ 6,369,000,000
Net liability balance, end of year	797,000,000		$ 6,369,000,000
Reinsurance recoverable on market risk benefits at fair value, end of year	(221,000,000)	[1]	(383,000,000)	[1]	$ (221,000,000)	$ (383,000,000)	$ (472,000,000)
Variable Annuity
Market Risk Benefit [Roll Forward]
Net liability balance, beginning of year	6,281,000,000		9,908,000,000
Effect of changes in interest rates	(14,137,000,000)		(3,193,000,000)
Effect of fund performance	6,432,000,000		(2,388,000,000)
Effect of changes in equity index volatility	1,576,000,000		(45,000,000)
Effect of expected policyholder behavior	532,000,000		412,000,000
Effect of actual policyholder behavior different from expected	(230,000,000)		(747,000,000)
Effect of time	1,707,000,000		1,901,000,000
Effect of changes in assumptions	465,000,000		16,000,000
Net liability balance, end of year	767,000,000		6,281,000,000
Reinsurance recoverable on market risk benefits at fair value, end of year	(183,000,000)		(284,000,000)				(368,000,000)
Net liability balance, end of year, net of reinsurance	$ 584,000,000		$ 5,997,000,000
Weighted average attained age (years)	69 years		68 years
Net amount at risk	$ 15,592,000,000		$ 3,404,000,000
AOCI, Market Risk Benefit, Instrument-Specific Credit Risk, before Tax	(2,185,000,000)		(326,000,000)					$ (743,000,000)
Market Risk Benefit, before Reinsurance and Cumulative Increase (Decrease) from Instrument-Specific Credit Risk Change	$ 2,952,000,000		6,607,000,000					10,651,000,000
As Previously Reported
Market Risk Benefit [Roll Forward]
Reinsurance recoverable on market risk benefits at fair value, end of year			$ 0		$ 0	$ 0	$ 0	(408,000,000)
As Previously Reported | Variable Annuity
Market Risk Benefit [Roll Forward]
Reinsurance recoverable on market risk benefits at fair value, end of year								$ (340,000,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Long-Term Debt - Carrying Value

Long-Term Debt - Carrying Values (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt	[1]	$ 470	$ 494
Surplus notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt		408	427
FHLBI bank loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Total long-term debt		$ 62	$ 67
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2015	Dec. 31, 2014	Mar. 15, 1997
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Collateral carrying value	$ 96,000,000	$ 95,000,000
FHLBI bank loans
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Loans received				$ 50,000,000	$ 50,000,000
Weighted average interest rate	1.70%	0.10%
Short-term debt	$ 62,000,000	$ 67,000,000
Surplus notes due 2027 | Surplus notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Stated interest rate						8.20%
Debt face amount						$ 250,000,000
Interest expense	20,000,000	20,000,000	$ 21,000,000
Squire Surplus Notes | Surplus notes
Schedule of Long Term and Short Term Debt Instruments [Line Items]
Stated interest rate						4.40%
Interest expense	$ 6,000,000	$ 8,000,000	$ 10,000,000

Federal Home Loan Bank Advanc_2

Federal Home Loan Bank Advances (Details) $ in Millions	Dec. 31, 2022 USD ($)
Other Liabilities Disclosure [Abstract]
Federal Home Loan Bank advances	$ 0

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 1,530	$ 680	$ (380)	$ 661	$ 854	$ 395	$ (94)	$ (98)	$ (246)	$ 1,118	$ 1,530	[1]	$ 680	[1]	$ (841)
Benefit of net interest related to tax refunds											(24)
Benefit for reversal of uncertain tax positions											(3)
Income taxes paid (refunded)											(2)	[2]	(390)	[2]	$ (4)
Income taxes paid (refunded), including interest											(314)
Income taxes paid (refunded), interest											(24)
Income taxes paid (refunded), refunds from overpayment											(51)
Increase (decrease) in valuation allowance											900		0
Decrease resulting from tax reserves position													(2)
Deferred Tax Assets, Life Insurance Group
Income Tax Contingency [Line Items]
Deferred tax assets, amount to be realized			$ 248				$ 1,671				$ 248		1,671
CARES Act
Income Tax Contingency [Line Items]
Income tax expense (benefit)													$ (16)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Current tax expense (benefit)
Federal											$ (43)		$ (78)		$ (67)
State and local											1		(3)		2
Total current tax expense (benefit)											(42)		(81)		(65)
Deferred tax expense (benefit)
Federal											1,513		736		(703)
State and local											59		25		(73)
Total deferred tax expense (benefit)	$ 1,572	$ 761									1,572	[1]	761	[1]	(776)
Total income taxes	$ 1,530	$ 680	$ (380)	$ 661	$ 854	$ 395	$ (94)	$ (98)	$ (246)	$ 1,118	$ 1,530	[2]	$ 680	[2]	$ (841)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes at statutory rate											$ 1,645		$ 872		$ (503)
State income taxes											48		18		(56)
Dividends received deduction											(142)		(146)		(158)
U.S. federal tax reform impact											0		0		(16)
Foreign and other tax credits											(24)		(46)		(61)
Prior year deferred tax benefit											0		0		(53)
Other											3		(18)		6
Total income taxes	$ 1,530	$ 680	$ (380)	$ 661	$ 854	$ 395	$ (94)	$ (98)	$ (246)	$ 1,118	$ 1,530	[1]	$ 680	[1]	$ (841)
Effective tax rate											19.50%		16.30%		35.10%
State income taxes, benefit for true-up of prior periods													$ 33
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Gross deferred tax asset
Policy reserves and other insurance items	$ 1,647	$ 3,306
Employee benefits	135	151
Derivative investments	789	1,129
Net unrealized losses	1,359	0
Net operating loss carryforward	547	284
Other	73	11
Total gross deferred tax asset	4,550	4,881
Valuation allowance	(900)	0
Gross deferred tax asset, net of valuation allowance	3,650	4,881
Gross deferred tax liability
Deferred acquisition costs and sales inducements	(2,584)	(2,701)
Other investment items	(789)	(22)
Net unrealized gains	0	(469)
Other	(29)	(18)
Total gross deferred tax liability	(3,402)	(3,210)
Net deferred tax asset	$ 248	$ 1,671

Income Taxes - Carryforwards (D

Income Taxes - Carryforwards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Section 382 net operating loss from previous acquisition	$ 137	$ 137
Alternative Minimum Credit	6	6
Total	2,911	1,479
Section 382 net operating loss from previous acquisition, annual limitation	21
Ordinary loss carryforwards, subject to expiration	124
Ordinary loss carryforwards, not subject to expiration	$ 223
Minimum
Operating Loss Carryforwards [Line Items]
Tax credit carryforward period	0 years
Maximum
Operating Loss Carryforwards [Line Items]
Tax credit carryforward period	20 years
Federal
Operating Loss Carryforwards [Line Items]
Ordinary loss carryforwards	$ 2,377	1,178
State
Operating Loss Carryforwards [Line Items]
Ordinary loss carryforwards	347	158
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Alternative Minimum Credit	$ 44	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2022 USD ($)
Unfunded partnership investment commitment
Other Commitments [Line Items]
Unfunded commitments	$ 1,398
Unfunded loan and debt securities commitments
Other Commitments [Line Items]
Unfunded commitments	$ 1,169

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease net ROU assets	$ 11	$ 14
Present value of lease liabilities	$ 18	$ 23
Operating lease, right-of-use asset, statement of financial position [extensible enumeration]	Other assets	Other assets
Operating lease, liability, statement of financial position [extensible enumeration]	Other liabilities	Other liabilities
Net lease expense	$ 42	$ 30	$ 22

Leases - Operating Lease Costs

Leases - Operating Lease Costs and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lease Cost:
Operating leases	$ 6	$ 7	$ 11
Variable lease costs	2	2	2
Sublease income	(3)	(4)	(5)
Net Lease Cost	5	5	8
Other Information:
Cash paid for amounts included in the measurement of operating lease liability	$ 6	$ 7	$ 10
Weighted average lease term	5 years	5 years	6 years
Weighted average discount rate	3.70%	3.60%	3.60%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 6
2024	5
2025	3
2026	3
2027	1
Thereafter	2
Total	20
Less: interest	2
Present value of lease liabilities	$ 18	$ 23

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan term	10 years
Unrecognized compensation expense	$ 44
Unrecognized compensation expense, weighted average remaining period	1 year 1 month 2 days
2021 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued share-based compensation	$ 65	$ 61
Prudential ADRs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested awards (in shares)	4,728,473
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Service period	3 years
Restricted Stock Units | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	30 months
Restricted Stock Units | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock Units | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	2 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Share Units | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	30 months
Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0%
Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200%

Share-Based Compensation - Non-

Share-Based Compensation - Non-Vested RSUs (Details) - Cash-Settled - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
PSUs
Beginning balance (in shares)	1,568,395	0
Granted (in shares)	919,084	1,338,880
Vested (in shares)	(680,089)	0
Forfeited (in shares)	(75,859)	(5,177)
Re-issuance due to modifications (in shares)		234,692
Ending balance (in shares)	1,731,531	1,568,395
Weighted-Average Grant Date Fair Value per Share
Beginning balance (usd per share)	$ 32.77	$ 26.09	$ 0
Granted (usd per share)	38.71	26.57
Vested (usd per share)	26.93	0
Forfeited (usd per share)	28.48	26.41
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (usd per share)	$ 32.77	$ 26.09

Share-Based Compensation - No_2

Share-Based Compensation - Non-Vested PSUs (Details) - Cash-Settled - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
PSUs
Beginning balance (in shares)	1,519,122	0
Granted (in shares)	217,270	219,139
Vested (in shares)	(525,143)	0
Forfeited (in shares)	(81,196)	(3,087)
Re-issuance due to modifications (in shares)		1,303,070
Ending balance (in shares)	1,130,053	1,519,122
Weighted-Average Grant Date Fair Value per Share
Beginning balance (usd per share)	$ 28.67	$ 26.56	$ 0
Granted (usd per share)	37.81	27.44
Vested (usd per share)	26.63	0
Forfeited (usd per share)	26.76	26.41
Re-issuance due to modifications (in usd per share)		26.41
Ending balance (usd per share)	$ 28.67	$ 26.56

Share-Based Compensation - Expe

Share-Based Compensation - Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Compensation expense recognized	$ 118	$ 97	$ 44
Income tax benefit recognized	$ 23	$ 19	$ 9

Other Related Party Transacti_2

Other Related Party Transactions (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Amount transferred to third party	$ 319
Financing Note And Squire Surplus Note | Loans Payable | Brier Capital LLC
Related Party Transaction [Line Items]
Outstanding principal	$ 344	$ 158	$ 177
Financing Note | Loans Payable | Brier Capital LLC
Related Party Transaction [Line Items]
Stated interest rate	4%
Investment management fees | Affiliated entity
Related Party Transaction [Line Items]
Related party, expenses		58	58	$ 65
Investment management fees | PPM America, Inc.
Related Party Transaction [Line Items]
Related party, revenue		7	6	9
Investment management fees | Jackson Financial
Related Party Transaction [Line Items]
Related party, revenue		18
Investment management fees | Athene
Related Party Transaction [Line Items]
Related party, expenses		83	104	60
Information security and technology services | Affiliated entity
Related Party Transaction [Line Items]
Related party, revenue		0	4	$ 5
Line Of Credit Facility Provided By Parent | Facility Provided By Parent | Line of Credit | PPM America, Inc.
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 75
Basis spread on variable interest rate		2%
Commitment fee		0.10%
Outstanding balance		$ 20	20
Highest outstanding loan balance		20	20
Line Of Credit Facility Provided By Parent | Facility Provided By Parent | Line of Credit | Jackson Financial
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 100
Basis spread on variable interest rate		2%
Spread adjustment		0.12%
Commitment fee		0.10%
Outstanding balance		$ 0	0
Highest outstanding loan balance			$ 30
Line Of Credit Facility Provided By Parent | Facility Provided By Parent | Line of Credit | Jackson Holdings, LLC
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 20
Basis spread on variable interest rate		2%
Commitment fee		0.25%

Statutory Accounting and Regu_2

Statutory Accounting and Regulatory Matters (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 24, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statutory Accounting Practices [Line Items]
Statutory capital and surplus		$ 6,000	$ 6,100
Statutory net (loss) income		3,688	136	$ (1,933)
Capital contribution		(600)
Statutory basis VOBA		0	$ 33
Parent Company | Forecast
Statutory Accounting Practices [Line Items]
Ordinary dividend	$ 150
Brooke Life
Statutory Accounting Practices [Line Items]
Amount available for payment of dividends		3,688
Brooke Life | Subsequent Event
Statutory Accounting Practices [Line Items]
Amount available for payment of dividends	$ 450
Jackson Financial
Statutory Accounting Practices [Line Items]
Adjusted earned surplus		$ 943

Benefit Plans (Details)

Benefit Plans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) h	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Retirement Benefits [Abstract]
Eligibility, number of service hours in a 12-month period | h	1,000
Eligibility, required service period	12 months
Company match percentage	6%
Defined contribution plan expense	$ 28	$ 28	$ 30
Deferred compensation plan liability	469	564
Deferred compensation plan expense	$ (47)	$ 54	$ 56

Operating Costs and Other Exp_3

Operating Costs and Other Expenses (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Operating Costs And Other Expenses [Abstract]
Asset-based commission expenses									$ 1,010		$ 1,126		$ 907
Other commission expenses									846		1,042		1,020
Deferral of acquisition costs									(628)		(796)		(735)
Sub-advisor expenses									337		400		336
General and administrative expenses									768		917		874
Athene ceding commission									0		0		(1,202)
Operating costs and other expenses, net of deferrals	$ 602	$ 568	$ 532	$ 631	$ 737	$ 666	$ 655	$ 631	$ 2,333	[1]	$ 2,689	[1]	$ 1,200
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Changes in Balance (Details) - USD ($) $ in Millions					12 Months Ended
	Jan. 01, 2023		Jan. 01, 2022		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in unrealized gains (losses) of investments					$ (8,253)		$ (1,821)		$ 2,589
Change in current discount rate - reserve for future policy benefits					1,664		507		0
Change in non-performance risk on market risk benefits					1,875		(424)		0
Change in unrealized gains (losses) - other					37		38		133
Change in deferred tax asset					111		370		(601)
Other comprehensive income (loss) before reclassifications					(4,566)		(1,330)		2,121
Reclassifications from AOCI, net of tax					(138)		(735)		(700)
Other comprehensive income (loss)	$ (4,704)		$ (2,065)		(4,704)	[1]	(2,065)	[1]	1,421
Balance	10,281		9,280
Accumulated Other Comprehensive Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(3,200)	[2]	1,504	[2]	1,504	[2]	3,960		2,539
Other comprehensive income (loss)					(4,704)		(2,065)		1,421
Balance					(3,200)	[2]	1,504	[2]	3,960
Accumulated Other Comprehensive Income | Change in accounting principle
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance							(391)
Balance									$ (391)
Accumulated Other Comprehensive Income | Funds withheld assets
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ (2,106)		$ 287		287
Balance					$ (2,106)		$ 287
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Reclassifications (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)	$ (832)	$ (5,367)	$ (4,198)	$ (194)	$ 2,940	$ (1,566)	$ (1,698)	$ (421)	$ (388)	$ (2,839)	$ (3,018)	[1]	$ (5,346)	[1]	$ (6,894)
Amortization of deferred acquisition costs	(1,225)	(1,305)													(534)
Pretax adjusted operating earnings			(1,541)	2,560	4,191	2,625	(201)	(204)	(1,303)	5,870	7,835	[1]	4,162	[1]	(2,393)
Income tax expense (benefit)	1,530	680	(380)	661	854	395	(94)	(98)	(246)	1,118	1,530	[1]	680	[1]	(841)
Net income (loss)	$ 6,305	$ 3,482	$ (1,161)	$ 1,899	$ 3,337	$ 2,230	$ (107)	$ (106)	$ (1,057)	$ 4,752	6,305	[2]	3,482	[2]	(1,552)
Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)											(175)		(938)		(1,132)
Amortization of deferred acquisition costs											0		0		246
Pretax adjusted operating earnings											(175)		(938)		(886)
Income tax expense (benefit)											(37)		(203)		(186)
Net income (loss)											(138)		(735)		(700)
Reclassification out of Accumulated Other Comprehensive Income | Net realized gain (loss) on investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)											(175)		(929)		(1,142)
Reclassification out of Accumulated Other Comprehensive Income | Other impaired securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized gain (loss)											$ 0		$ (9)		$ 10
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Revision and Reclassification_3

Revision and Reclassifications of Prior Period Financial Statements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Reclassification impacts in cash flows	$ 61	$ 65

Revision and Reclassification_4

Revision and Reclassifications of Prior Period Financial Statements - Consolidated Balance Sheets (Details) - USD ($)	Jan. 01, 2023	Dec. 31, 2022	[1]	Jan. 01, 2022	Dec. 31, 2021		Jan. 01, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Deferred acquisition costs	$ 12,918,000,000	$ 12,918,000,000		$ 13,519,000,000	$ 13,519,000,000	[1]	$ 14,036,000,000	$ 13,897,000,000	$ 12,334,000,000
Reinsurance recoverable on market risk benefits	29,076,000,000	29,076,000,000		32,877,000,000	32,877,000,000	[1]	35,156,000,000
Reinsurance recoverable on market risk benefits, at fair value	221,000,000	221,000,000		383,000,000	383,000,000	[1]	472,000,000
Market risk benefit - (assets)	4,865,000,000	4,865,000,000		1,664,000,000	1,664,000,000	[1]	690,000,000
Deferred income taxes, net	248,000,000	248,000,000		1,671,000,000	1,671,000,000	[1]	1,860,000,000
Other assets	731,000,000	731,000,000		656,000,000	656,000,000	[1]	862,000,000
Total assets	311,022,000,000	311,022,000,000		373,914,000,000	373,914,000,000	[1]	353,510,000,000
Liabilities
Reserves for future policy benefits and claims payable	12,300,000,000	12,300,000,000		15,177,000,000	15,177,000,000	[1]	16,774,000,000
Other contract holder funds	57,980,000,000	57,980,000,000		58,489,000,000	58,489,000,000	[1]	63,342,000,000
Market risk benefit - liabilities	5,662,000,000	5,662,000,000		8,033,000,000	8,033,000,000	[1]	10,690,000,000
Other liabilities	1,667,000,000	1,667,000,000		1,945,000,000	1,945,000,000	[1]
Total liabilities	300,741,000,000	300,741,000,000		364,634,000,000	364,634,000,000	[1]	347,018,000,000
Equity
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021	(3,200,000,000)	(3,200,000,000)		1,504,000,000	1,504,000,000	[1]	3,569,000,000
Retained earnings	8,103,000,000	8,103,000,000		1,798,000,000	1,798,000,000	[1]	(1,683,000,000)
Equity	10,281,000,000			9,280,000,000			6,492,000,000
Total liabilities and equity	311,022,000,000	$ 311,022,000,000		373,914,000,000	373,914,000,000	[1]	353,510,000,000
As Previously Reported
Assets
Deferred acquisition costs	13,407,000,000			14,246,000,000	14,246,000,000		13,896,000,000
Reinsurance recoverable on market risk benefits	29,670,000,000			33,169,000,000	33,169,000,000		35,311,000,000
Reinsurance recoverable on market risk benefits, at fair value	0			0	0		0	$ 408,000,000
Market risk benefit - (assets)	0			0	0		0
Deferred income taxes, net	315,000,000			909,000,000	909,000,000		1,036,000,000
Other assets	734,000,000			652,000,000	577,000,000		861,000,000
Total assets	307,089,000,000			372,120,000,000	372,045,000,000		351,538,000,000
Liabilities
Reserves for future policy benefits and claims payable	14,255,000,000			18,654,000,000	17,617,000,000		22,490,000,000
Other contract holder funds	57,986,000,000			58,494,000,000	59,456,000,000		63,349,000,000
Market risk benefit - liabilities	0			0	0		0
Other liabilities	1,668,000,000			1,946,000,000	1,946,000,000
Total liabilities	297,041,000,000			360,084,000,000	360,009,000,000		342,051,000,000
Equity
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021	(5,311,000,000)			1,890,000,000	1,890,000,000		3,960,000,000
Retained earnings	9,981,000,000			4,168,000,000	4,168,000,000		921,000,000
Equity	10,048,000,000			12,036,000,000	12,036,000,000		9,487,000,000
Total liabilities and equity	307,089,000,000			372,120,000,000	372,045,000,000		351,538,000,000
Revision of Prior Period, Accounting Standards Update, Adjustment
Assets
Deferred acquisition costs	(489,000,000)			(727,000,000)	(727,000,000)		140,000,000
Reinsurance recoverable on market risk benefits	(594,000,000)			(292,000,000)	(292,000,000)		(155,000,000)
Reinsurance recoverable on market risk benefits, at fair value	221,000,000			383,000,000	383,000,000		472,000,000
Market risk benefit - (assets)	4,865,000,000			1,664,000,000	1,664,000,000		690,000,000
Deferred income taxes, net	(67,000,000)			762,000,000	762,000,000		824,000,000
Other assets	(3,000,000)			4,000,000	4,000,000		1,000,000
Total assets	3,933,000,000			1,794,000,000	1,794,000,000		1,972,000,000
Liabilities
Reserves for future policy benefits and claims payable	(1,955,000,000)			(3,477,000,000)	(3,477,000,000)		(5,716,000,000)
Other contract holder funds	(6,000,000)			(5,000,000)	(5,000,000)		(7,000,000)
Market risk benefit - liabilities	5,662,000,000			8,033,000,000	8,033,000,000		10,690,000,000
Other liabilities	(1,000,000)			(1,000,000)	(1,000,000)
Total liabilities	3,700,000,000			4,550,000,000	4,550,000,000		4,967,000,000
Equity
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021	2,111,000,000			(386,000,000)	(386,000,000)		(391,000,000)
Retained earnings	(1,878,000,000)			(2,370,000,000)	(2,370,000,000)		(2,604,000,000)
Equity	233,000,000			(2,756,000,000)	(2,756,000,000)		(2,995,000,000)
Total liabilities and equity	$ 3,933,000,000			$ 1,794,000,000	1,794,000,000		1,972,000,000
Impact of Revisions and Reclassifications
Assets
Deferred acquisition costs					0
Reinsurance recoverable on market risk benefits					0
Reinsurance recoverable on market risk benefits, at fair value					0
Market risk benefit - (assets)					0
Deferred income taxes, net					0
Other assets					75,000,000
Total assets					75,000,000
Liabilities
Reserves for future policy benefits and claims payable					1,037,000,000
Other contract holder funds					(962,000,000)
Market risk benefit - liabilities					0
Other liabilities					0
Total liabilities					75,000,000
Equity
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021					0
Retained earnings					0
Equity					0
Total liabilities and equity					75,000,000
As Revised
Assets
Deferred acquisition costs					13,519,000,000
Reinsurance recoverable on market risk benefits					32,877,000,000
Reinsurance recoverable on market risk benefits, at fair value					383,000,000
Market risk benefit - (assets)					1,664,000,000
Deferred income taxes, net					1,671,000,000
Other assets					656,000,000
Total assets					373,914,000,000
Liabilities
Reserves for future policy benefits and claims payable					15,177,000,000
Other contract holder funds					58,489,000,000
Market risk benefit - liabilities					8,033,000,000
Other liabilities					1,945,000,000
Total liabilities					364,634,000,000
Equity
Accumulated other comprehensive income (loss), net of tax expense (benefit) of $(66) in 2022 and $84 in 2021					1,504,000,000		(400,000,000)
Retained earnings					1,798,000,000		$ (2,600,000,000)
Equity					9,280,000,000
Total liabilities and equity					$ 373,914,000,000
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Revision and Reclassification_5

Revision and Reclassifications of Prior Period Financial Statements - Consolidated Income Statements (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Revenues
Fee income			$ 1,861,000	$ 1,893,000	$ 1,920,000	$ 1,997,000	$ 2,081,000	$ 2,047,000	$ 1,976,000	$ 1,890,000	$ 7,671,000	[1]	$ 7,994,000	[1]	$ 6,840,000
Premiums			22,000	30,000	26,000	31,000	30,000	30,000	31,000	31,000	109,000	[1]	122,000	[1]	157,000
Net investment income			695,000	648,000	719,000	658,000	797,000	771,000	744,000	828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Net gains (losses) on derivatives and investments	$ (832,000)	$ (5,367,000)	(4,198,000)	(194,000)	2,940,000	(1,566,000)	(1,698,000)	(421,000)	(388,000)	(2,839,000)	(3,018,000)	[1]	(5,346,000)	[1]	(6,894,000)
Total revenues	9,752,000	5,982,000	(2,069,000)	2,951,000	6,702,000	2,168,000	1,196,000	2,329,000	1,626,000	831,000	9,752,000	[1]	5,982,000	[1]	3,443,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	1,035,000	904,000	246,000	240,000	261,000	288,000	155,000	280,000	214,000	255,000	1,035,000	[1]	904,000	[1]	1,313,000
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000	(26,000)	(39,000)	14,000	15,000	2,000	(15,000)	6,000	48,000	(36,000)	[1]	41,000	[1]	0
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)	(1,900,000)	(913,000)	1,184,000	(1,907,000)	(22,000)	1,066,000	1,512,000	(6,522,000)	(3,536,000)	[2]	(3,966,000)	[1]	0
Interest credited on other contract holder funds, net of deferrals and amortization	859,000	825,000	235,000	223,000	206,000	195,000	201,000	205,000	207,000	212,000	859,000	[1]	825,000	[1]	1,293,000
Operating costs and other expenses, net of deferrals			602,000	568,000	532,000	631,000	737,000	666,000	655,000	631,000	2,333,000	[1]	2,689,000	[1]	1,200,000
Amortization of deferred acquisition costs			297,000	304,000	308,000	316,000	319,000	327,000	328,000	331,000	1,225,000	[1]	1,305,000	[1]	(534,000)
Total benefits and expenses	1,917,000	1,820,000	(528,000)	391,000	2,511,000	(457,000)	1,397,000	2,533,000	2,929,000	(5,039,000)	1,917,000	[1]	1,820,000	[1]	5,836,000
Pretax adjusted operating earnings			(1,541,000)	2,560,000	4,191,000	2,625,000	(201,000)	(204,000)	(1,303,000)	5,870,000	7,835,000	[1]	4,162,000	[1]	(2,393,000)
Income tax expense (benefit)	1,530,000	680,000	(380,000)	661,000	854,000	395,000	(94,000)	(98,000)	(246,000)	1,118,000	1,530,000	[1]	680,000	[1]	(841,000)
Net income (loss)	6,305,000	3,482,000	$ (1,161,000)	$ 1,899,000	$ 3,337,000	$ 2,230,000	$ (107,000)	$ (106,000)	$ (1,057,000)	$ 4,752,000	$ 6,305,000	[2]	3,482,000	[2]	(1,552,000)
As Previously Reported
Revenues
Fee income													7,594,000		6,504,000
Premiums													107,000		130,000
Net investment income													3,086,000		2,781,000
Net gains (losses) on derivatives and investments	3,856,000	(2,480,000)											(2,480,000)
Total revenues	14,440,000	8,869,000											8,400,000		3,025,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	2,263,000	949,000											892,000		1,235,000
(Gain) loss from updating future policy benefits cash flow assumptions, net	0	0											0
Net (gain) loss on market risk benefits	0	0											0
Interest credited on other contract holder funds, net of deferrals and amortization	855,000	827,000											861,000		1,202,000
Operating costs and other expenses, net of deferrals													2,242,000		807,000
Amortization of deferred acquisition costs													520,000		(390,000)
Total benefits and expenses	7,231,000	5,006,000											4,537,000		5,418,000
Pretax adjusted operating earnings													3,863,000
Income tax expense (benefit)	1,396,000	616,000											616,000
Net income (loss)	5,813,000	3,247,000											3,247,000		(1,552,000)
Revision of Prior Period, Accounting Standards Update, Adjustment
Revenues
Fee income													0		0
Premiums													0		0
Net investment income													0		0
Net gains (losses) on derivatives and investments	(4,688,000)	(2,887,000)											(2,887,000)
Total revenues	(4,688,000)	(2,887,000)											(2,887,000)		0
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	(1,228,000)	(45,000)											(45,000)		0
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000											41,000
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)											(3,966,000)
Interest credited on other contract holder funds, net of deferrals and amortization	4,000	(2,000)											(2,000)		0
Operating costs and other expenses, net of deferrals													0		0
Amortization of deferred acquisition costs													786,000		0
Total benefits and expenses	(5,314,000)	(3,186,000)											(3,186,000)		0
Pretax adjusted operating earnings													299,000
Income tax expense (benefit)	134,000	64,000											64,000
Net income (loss)	$ 492,000	$ 235,000											235,000		0
Impact of Revisions and Reclassifications
Revenues
Fee income													400,000		336,000
Premiums													15,000		27,000
Net investment income													54,000		55,000
Net gains (losses) on derivatives and investments													0
Total revenues													469,000		418,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals													57,000		78,000
(Gain) loss from updating future policy benefits cash flow assumptions, net													0
Net (gain) loss on market risk benefits													0
Interest credited on other contract holder funds, net of deferrals and amortization													(34,000)		91,000
Operating costs and other expenses, net of deferrals													447,000		393,000
Amortization of deferred acquisition costs													(1,000)		(144,000)
Total benefits and expenses													469,000		418,000
Pretax adjusted operating earnings													0
Income tax expense (benefit)													0
Net income (loss)													0		0
As Revised
Revenues
Fee income													7,994,000		6,840,000
Premiums													122,000		157,000
Net investment income													3,140,000		2,836,000
Net gains (losses) on derivatives and investments													(5,367,000)
Total revenues													5,982,000		3,443,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals													904,000		1,313,000
(Gain) loss from updating future policy benefits cash flow assumptions, net													41,000
Net (gain) loss on market risk benefits													(3,966,000)
Interest credited on other contract holder funds, net of deferrals and amortization													825,000		1,293,000
Operating costs and other expenses, net of deferrals													2,689,000		1,200,000
Amortization of deferred acquisition costs													1,305,000		(534,000)
Total benefits and expenses													1,820,000		5,836,000
Pretax adjusted operating earnings													4,162,000
Income tax expense (benefit)													680,000
Net income (loss)													$ 3,482,000		$ (1,552,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ in Thousands			3 Months Ended								12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Revenues
Fee income			$ 1,861,000	$ 1,893,000	$ 1,920,000	$ 1,997,000	$ 2,081,000	$ 2,047,000	$ 1,976,000	$ 1,890,000	$ 7,671,000	[1]	$ 7,994,000	[1]	$ 6,840,000
Premiums			22,000	30,000	26,000	31,000	30,000	30,000	31,000	31,000	109,000	[1]	122,000	[1]	157,000
Net investment income excluding funds withheld assets
Net investment income excluding funds withheld assets			378,000	335,000	355,000	398,000	493,000	472,000	450,000	537,000	1,466,000	[1]	1,952,000	[1]	2,044,000
Net investment income on funds withheld assets			317,000	313,000	364,000	260,000	304,000	299,000	294,000	291,000	1,254,000	[1]	1,188,000	[1]	792,000
Net investment income			695,000	648,000	719,000	658,000	797,000	771,000	744,000	828,000	2,720,000	[1]	3,140,000	[1]	2,836,000
Net gains (losses) on derivatives and investments:
Net gains (losses) on derivatives and investments	$ (832,000)	$ (5,367,000)	(4,198,000)	(194,000)	2,940,000	(1,566,000)	(1,698,000)	(421,000)	(388,000)	(2,839,000)	(3,018,000)	[1]	(5,346,000)	[1]	(6,894,000)
Net gains (losses) on funds withheld reinsurance treaties			(474,000)	555,000	1,077,000	1,028,000	(36,000)	(115,000)	(768,000)	898,000	2,186,000	[1]	(21,000)	[1]	440,000
Total net gains (losses) on derivatives and investments			(4,672,000)	361,000	4,017,000	(538,000)	(1,734,000)	(536,000)	(1,156,000)	(1,941,000)	(832,000)	[1]	(5,367,000)	[1]	(6,454,000)
Other income			25,000	19,000	20,000	20,000	22,000	17,000	31,000	23,000	84,000	[1]	93,000	[1]	64,000
Total revenues	9,752,000	5,982,000	(2,069,000)	2,951,000	6,702,000	2,168,000	1,196,000	2,329,000	1,626,000	831,000	9,752,000	[1]	5,982,000	[1]	3,443,000
Benefits and Expenses
Death, other policy benefits and change in policy reserves, net of deferrals	1,035,000	904,000	246,000	240,000	261,000	288,000	155,000	280,000	214,000	255,000	1,035,000	[1]	904,000	[1]	1,313,000
(Gain) loss from updating future policy benefits cash flow assumptions, net	(36,000)	41,000	(26,000)	(39,000)	14,000	15,000	2,000	(15,000)	6,000	48,000	(36,000)	[1]	41,000	[1]	0
Net (gain) loss on market risk benefits	(3,536,000)	(3,966,000)	(1,900,000)	(913,000)	1,184,000	(1,907,000)	(22,000)	1,066,000	1,512,000	(6,522,000)	(3,536,000)	[2]	(3,966,000)	[1]	0
Interest credited on other contract holder funds, net of deferrals and amortization	859,000	825,000	235,000	223,000	206,000	195,000	201,000	205,000	207,000	212,000	859,000	[1]	825,000	[1]	1,293,000
Interest expense			18,000	8,000	6,000	5,000	5,000	4,000	7,000	6,000	37,000	[1]	22,000	[1]	44,000
Operating costs and other expenses, net of deferrals			602,000	568,000	532,000	631,000	737,000	666,000	655,000	631,000	2,333,000	[1]	2,689,000	[1]	1,200,000
Amortization of deferred acquisition costs			297,000	304,000	308,000	316,000	319,000	327,000	328,000	331,000	1,225,000	[1]	1,305,000	[1]	(534,000)
Total benefits and expenses	1,917,000	1,820,000	(528,000)	391,000	2,511,000	(457,000)	1,397,000	2,533,000	2,929,000	(5,039,000)	1,917,000	[1]	1,820,000	[1]	5,836,000
Pretax income (loss)			(1,541,000)	2,560,000	4,191,000	2,625,000	(201,000)	(204,000)	(1,303,000)	5,870,000	7,835,000	[1]	4,162,000	[1]	(2,393,000)
Income tax expense (benefit)	1,530,000	680,000	(380,000)	661,000	854,000	395,000	(94,000)	(98,000)	(246,000)	1,118,000	1,530,000	[1]	680,000	[1]	(841,000)
Net income (loss)	$ 6,305,000	$ 3,482,000	$ (1,161,000)	$ 1,899,000	$ 3,337,000	$ 2,230,000	$ (107,000)	$ (106,000)	$ (1,057,000)	$ 4,752,000	$ 6,305,000	[2]	$ 3,482,000	[2]	$ (1,552,000)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements . (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Schedule I (Details)

Schedule I (Details) $ in Millions	Dec. 31, 2022 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	$ 68,085
Amount at which shown on balance sheet	62,443
Total debt securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	48,357
Fair value	42,072
Amount at which shown on balance sheet	42,072
U.S. government securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	5,731
Fair value	4,724
Amount at which shown on balance sheet	4,724
Other government securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	1,719
Fair value	1,468
Amount at which shown on balance sheet	1,468
Public utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	5,833
Fair value	5,167
Amount at which shown on balance sheet	5,167
Corporate securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	26,532
Fair value	22,905
Amount at which shown on balance sheet	22,905
Residential mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	498
Fair value	452
Amount at which shown on balance sheet	452
Commercial mortgage-backed
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	1,813
Fair value	1,631
Amount at which shown on balance sheet	1,631
Other asset-backed securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	6,231
Fair value	5,725
Amount at which shown on balance sheet	5,725
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	359
Fair value	359
Amount at which shown on balance sheet	359
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	11,549
Amount at which shown on balance sheet	11,549
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	4,376
Amount at which shown on balance sheet	4,376
Derivative instruments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	1,270
Amount at which shown on balance sheet	1,270
Other invested assets
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or amortized cost	2,174
Amount at which shown on balance sheet	$ 2,817

Schedule III (Details)

Schedule III (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	$ 12,918	$ 13,519	$ 13,897
Reserves for Future Policy Benefits and Claims Payable	12,300	15,177	22,492
Other Contract Holder Funds	57,980	58,489	63,349
Premium	109	122	157
Net Investment Income	2,720	3,140	2,836
Interest Credited on Other Contract Holder Funds	859	825	1,293
Deferred Acquisition and Sales Inducements Amortization	1,225	1,305	(534)
Operating Costs and Other Expenses	2,333	2,689	1,200
Operating Segments and Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium	121	134	170
Net Investment Income	1,467	1,952	2,044
Interest Credited on Other Contract Holder Funds	859	825	1,155
Deferred Acquisition and Sales Inducements Amortization	568	568	92
Operating Costs and Other Expenses	2,333	2,689	2,403
Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	74	24	24
Reserves for Future Policy Benefits and Claims Payable	0	0	0
Other Contract Holder Funds	0	0	0
Premium	0	0	0
Net Investment Income	55	56	(34)
Interest Credited on Other Contract Holder Funds	0	0	0
Deferred Acquisition and Sales Inducements Amortization	0	0	20
Operating Costs and Other Expenses	25	48	36
Segment Reconciling Items
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium	(12)	(12)	(13)
Net Investment Income	1,253	1,188	792
Interest Credited on Other Contract Holder Funds	0	0	138
Deferred Acquisition and Sales Inducements Amortization	657	737	(626)
Operating Costs and Other Expenses	0	0	(1,203)
Retail Annuities | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	12,725	13,365	13,739
Reserves for Future Policy Benefits and Claims Payable	1,406	1,706	9,075
Other Contract Holder Funds	36,231	36,501	38,720
Premium	10	15	27
Net Investment Income	394	686	947
Interest Credited on Other Contract Holder Funds	246	218	469
Deferred Acquisition and Sales Inducements Amortization	557	556	55
Operating Costs and Other Expenses	2,174	2,455	2,172
Closed Life and Annuity Blocks | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	119	130	134
Reserves for Future Policy Benefits and Claims Payable	10,894	13,471	13,417
Other Contract Holder Funds	12,730	13,158	13,491
Premium	111	119	143
Net Investment Income	706	950	776
Interest Credited on Other Contract Holder Funds	412	419	436
Deferred Acquisition and Sales Inducements Amortization	11	12	17
Operating Costs and Other Expenses	129	181	190
Institutional Products | Operating Segments
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Acquisition Costs	0	0	0
Reserves for Future Policy Benefits and Claims Payable	0	0	0
Other Contract Holder Funds	9,019	8,830	11,138
Premium	0	0	0
Net Investment Income	312	260	355
Interest Credited on Other Contract Holder Funds	201	188	250
Deferred Acquisition and Sales Inducements Amortization	0	0	0
Operating Costs and Other Expenses	$ 5	$ 5	$ 5

Schedule IV (Details)

Schedule IV (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Life insurance in-force
Gross Amount	$ 86,792				$ 105,704				$ 86,792		$ 105,704		$ 118,328
Ceded	55,496				72,034				55,496		72,034		81,858
Assumed	15,976				16,358				15,976		16,358		17,034
Net amount	$ 47,272				$ 50,028				$ 47,272		$ 50,028		$ 53,504
% Amount Assumed to Net	33.80%				32.70%				33.80%		32.70%		31.80%
Insurance premium
Gross Amount									$ 360		$ 407		$ 336
Ceded									291		327		226
Assumed									40		42		47
Premiums	$ 22	$ 30	$ 26	$ 31	$ 30	$ 30	$ 31	$ 31	$ 109	[1]	$ 122	[1]	$ 157
% Amount Assumed to Net									36.70%		34.40%		29.90%
Life insurance
Insurance premium
Gross Amount									$ 325		$ 354		$ 273
Ceded									251		273		172
Assumed									37		38		42
Premiums									$ 111		$ 119		$ 143
% Amount Assumed to Net									33.30%		31.90%		29.60%
Accident and health
Insurance premium
Gross Amount									$ 25		$ 38		$ 36
Ceded									28		42		41
Assumed									3		4		5
Premiums									0		0		0
Payout annuity
Insurance premium
Gross Amount									10		15		27
Ceded									0		0		0
Assumed									0		0		0
Premiums									10		15		27
Annuity guaranteed benefits
Insurance premium
Gross Amount									0		0		0
Ceded									12		12		13
Assumed									0		0		0
Premiums									$ (12)		$ (12)		$ (13)
[1] (1) Recast for the adoption of ASU 2018-12. See Notes 1 and 2 to the Consolidated Financial Statements .

Schedule V (Details)

Schedule V (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 115	$ 206
Charged to costs and expenses	939	11
Deductions	(21)	(102)
Balance at end of period	1,033	115
Allowance for credit losses on debt securities
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	9	14
Charged to costs and expenses	36	11
Deductions	(22)	(16)
Balance at end of period	23	9
Allowances for credit losses on mortgage and other loans
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	94	179
Charged to costs and expenses	0	0
Deductions	1	(85)
Balance at end of period	95	94
Allowance for credit losses on reinsurance recoverable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	12	13
Charged to costs and expenses	3	0
Deductions	0	(1)
Balance at end of period	15	12
Valuation allowance on deferred tax asset
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	0	0
Charged to costs and expenses	900	0
Deductions	0	0
Balance at end of period	$ 900	$ 0