UNPAID CLAIM AND CLAIM EXPENSES (Tables)

12 Months Ended

Dec. 31, 2023

Schedules of Liability for Unpaid Claims and Claims Adjustment Expense

The following summarizes the change in liability for unpaid claims and claim expenses:

Liability for Unpaid Claims and Claim Expenses



	Year Ended December 31,
	2023		2022		2021
	(in millions)
Gross Balance, beginning of year	$	110	$	78	$	40
Less Reinsurance	36		23		15
Net Balance, beginning of year	74		55		25

Incurred Claims (net) Related to:
Current Period	237		190		139
Prior Period	(15)		(6)		11
Total Incurred	222		184		150

Paid Claims (net) Related to:
Current Period	162		131		101
Prior Period	41		34		19
Total Paid	203		165		120

Net Balance, end of year	93		74		55
Add Reinsurance	48		36		23
Gross Balance, end of year	$	141	$	110	$	78

The following table reconciles the long-term disability net incurred claims development table to the liability for unpaid claims and claim expenses in the Company’s balance sheets:


	December 31,
	2023		2022
	(in millions)
Long-Term Disability Claim Development Table, net of reinsurance
Undiscounted LTD Incurred Claims, net of reinsurance	$	82	$	57
Subtract Cumulative LTD Paid Claims, net of reinsurance	(33)		(21)
Subtract Impact of LTD Discounting, net of reinsurance	(6)		(4)
LTD liabilities for unpaid claim and claim expense, net of reinsurance	$	43	$	32

Unpaid Claims and Claim Expenses, net of reinsurance
LTD liabilities for unpaid claim and claim expense, net of reinsurance	$	43	$	32
Other short-duration contracts, net of reinsurance	50		42
Total liabilities for unpaid claim and claim expense, net of reinsurance	$	93	$	74

Reinsurance Recoverable on unpaid claims
Long-term disability	$	43	$	33
Other short-duration contracts	5		3
Total Reinsurance Recoverable	$	48	$	36

Total liability for unpaid claim and claim expense	$	141	$	110

Schedule of Long-Term Disability Development Tables

The table below presents incurred claims development as of December 31, 2023, net of reinsurance, cumulative claims frequency, and the total incurred but not reported liability (“IBNR”) for Equitable America’s long-term disability business:


	2023		2022		2021		2020		2019		2018		2017		IBNR		Claim Frequency
	(in millions)
Long-term Disability
Incurral Year
2017	$	2	$	2	$	2	$	2	$	2	$	2	$	2			113
2018	4		5		4		5		4		5						191
2019	5		5		5		6		7								265
2020	8		8		9		10										374
2021	15		16		16												653
2022	19		22														716
2023	29														$	10	532
Cumulative LTD Incurred Claims	$	82	$	58	$	36	$	23	$	13	$	7	$	2	$	10

The table below presents incurred claims development as of December 31, 2022, net of reinsurance, cumulative claims frequency, and total IBNR for Equitable America’s long-term disability business:


	2022		2021		2020		2019		2018		2017		IBNR		Claim Frequency

Long-term Disability
Incurral Year
2017	$	2	$	1	$	2	$	2	$	2	$	2			113
2018	4		4		4		4		5						191
2019	5		5		6		7								265
2020	8		9		10										371
2021	16		16												648
2022	22												$	8	392
Cumulative LTD Incurred Claims	$	57	$	35	$	22	$	13	$	7	$	2	$	8