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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost of $11,551 and $10,050) (allowance for credit losses of $0 and $0 ) $ 11,306 $ 9,891
Mortgage loans on real estate (net of allowance for credit losses of $3 and $2) 546 294
Policy loans 278 268
Other equity investments 24 19
Other invested assets 174 351
Total investments 12,328 10,823
Cash and cash equivalents 3,512 1,838
Deferred policy acquisition costs 1,348 1,212
Amounts due from reinsurers (allowance for credit losses of $0 and $0) 944 961
Funds withheld receivable 9,755 10,603
Reinsurance deposit assets 12,411 12,566
Purchased market risk benefits 7 9
Other assets 543 406
Assets for market risk benefits 34 24
Separate Accounts assets 6,830 5,754
Total Assets 47,712 44,196
LIABILITIES    
Policyholders’ account balances 28,256 24,963
Liability for market risk benefits 6,383 7,333
Future policy benefits and other policyholders' liabilities 1,801 1,653
Amounts due to reinsurers 105 110
Current and deferred income taxes 35 54
Other liabilities 2,228 2,169
Separate Accounts liabilities 6,830 5,754
Total Liabilities 45,638 42,036
Commitments and contingent liabilities [1]
EQUITY    
Common stock, $1.00 par value; 2,500,000 shares authorized, issued and outstanding 3 3
Additional paid-in capital 1,884 1,882
Retained earnings (accumulated deficit) 886 969
Accumulated other comprehensive income (loss) (699) (694)
Total Equity 2,074 2,160
Total Liabilities and Equity $ 47,712 $ 44,196
[1] See Note 13 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.