XML 27 R17.htm IDEA: XBRL DOCUMENT v3.23.3
Policyholders' account balances
 9 Months Ended
Sep. 30, 2023
Policyholder Account Balance [Abstract]  
Liability for policyholders' account balance Policyholders' account balances
The following tables present a roll-forward of policyholders' account balances:
Nine Months Ended September 30, 2023
(in millions of U.S. dollars)Universal LifeOtherTotal
Balance – beginning of period$1,719 $1,421 $3,140 
Consolidation of Huatai Group602 3,412 4,014 
Premiums received 275 228 503 
Policy charges (1)
(135)(8)(143)
Surrenders and withdrawals(69)(113)(182)
Benefit payments (6)(81)(87)
Interest credited39 43 82 
Other (including foreign exchange)(42)(107)(149)
Balance, end of period$2,383 $4,795 $7,178 
Nine Months Ended September 30, 2022
(in millions of U.S. dollars)Universal LifeOtherTotal
Balance – beginning of period$1,612 $1,154 $2,766 
Acquisition of Cigna10 345 355 
Premiums received 292 55 347 
Policy charges (1)
(141)(8)(149)
Surrenders and withdrawals(55)(39)(94)
Benefit payments (3)(15)(18)
Interest credited30 25 55 
Other (including foreign exchange)(69)(185)(254)
Balance, end of period$1,676 $1,332 $3,008 
(1)Contracts included in the policyholder account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
September 30
20232022
(in millions of U.S. dollars, except for percentages)Universal LifeOtherUniversal LifeOther
Weighted-average crediting rate3.8 %2.1 %3.7 %2.6 %
Net amount at risk (1)
$10,493 $1,675 $10,116 $1,503 
Cash Surrender Value$1,596 $3,655 $934 $1,280 
(1)For those guarantees of benefits that are payable in the event of death, the net amount at risk is defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

The following tables present the balance of account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimum:

Universal Life
September 30, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
 Up to 2.00%
$3 $— $56 $563 $622 
 2.01% – 4.00%
472 377 558 333 1,740 
Greater than 4.00%
21 — — — 21 
Total$496 $377 $614 $896 $2,383 

September 30, 2022
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
 Up to 2.00%
$3 $— $59 $505 $567 
 2.01% – 4.00%
456 394 228 — 1,078 
Greater than 4.00%
31 — — — 31 
Total$490 $394 $287 $505 $1,676 




Other policyholders' account balances
September 30, 2023
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
 Up to 2.00%
$1,328 $— $1,719 $799 $3,846 
 2.01% – 4.00%
112 487 27 — 626 
Greater than 4.00%
323 — — — 323 
Total$1,763 $487 $1,746 $799 $4,795 
September 30, 2022
(in millions of U.S. dollars)At Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
Guaranteed minimum crediting rates
 Up to 2.00%
$411 $— $191 $424 $1,026 
 2.01% – 4.00%
— — — — — 
Greater than 4.00%
306 — — — 306 
Total$717 $— $191 $424 $1,332