Market Risk Benefits (Tables)

6 Months Ended

Jun. 30, 2023

Insurance [Abstract]

Balances and Changes in Market Risk Benefit

The following table presents the balances of and changes in MRBs associated with FIAs and fixed rate annuities for the six months ended June 30, 2023 and the years ended December 31, 2022 and December 31, 2021:

	June 30, 2023				December 31, 2022				December 31, 2021
	FIA		Fixed rate annuities		FIA		Fixed rate annuities		FIA		Fixed rate annuities
	(Dollars in millions)
Balance, beginning of period	$	164	$	1	$	426	$	2	$	478	$	1
Balance, beginning of period, before effect of changes in the instrument-specific credit risk	$	102	$	1	$	280	$	1	$	320	$	1
Issuances and benefit payments	(8)		—		(21)		—		(9)		—
Attributed fees collected and interest accrual	68		—		107		1		99		1
Actual policyholder behavior different from expected	11		—		43		—		(22)		—
Changes in assumptions and other	1		—		(76)		—		—		—
Effects of market related movements	(38)		—		(231)		(1)		(108)		(1)
Balance, end of period, before effect of changes in the instrument-specific credit risk	$	136	$	1	$	102	$	1	$	280	$	1
Effect of changes in the instrument-specific credit risk	58		—		62		—		146		1
Balance, end of period	$	194	$	1	$	164	$	1	$	426	$	2
Weighted-average attained age of policyholders weighted by total AV (years)	68.41		72.67		68.59		72.88		68.95		73.10
Net amount at risk	$	1,006	$	3	$	952	$	3	$	1,304	$	4

The following table reconciles MRBs by amounts in an asset position and amounts in a liability position to the MRB amounts in the accompanying unaudited Condensed Consolidated Balance Sheets:

	June 30, 2023						December 31, 2022						December 31, 2021
	Asset		Liability		Net		Asset		Liability		Net		Asset		Liability		Net
	(In millions)
FIA	$	118	$	312	$	194	$	117	$	281	$	164	$	41	$	467	$	426
Fixed rate annuities	—		1		1		—		1		1		—		2		2
Total	$	118	$	313	$	195	$	117	$	282	$	165	$	41	$	469	$	428