Market Risk Benefits (Tables)

6 Months Ended

Jun. 30, 2023

Insurance [Abstract]

Market Risk Benefit, Activity

The following table provides the balances of and changes in the Company’s market risk benefits for the six months ended June 30, 2023 and 2022 (dollars in millions):

	U.S. and Latin America – Financial Solutions
	Six months ended June 30,
	2023		2022
Balance, beginning of year	$	247	$	262
Balance, beginning of year, before effect of changes in the instrument-specific credit risk	263		248
Interest accrual	6		—
Attributed fees collected	13		7
Benefit payments	(1)		(4)
Effect of changes in interest rates	(2)		(66)
Effect of changes in equity markets	(34)		46
Effect of changes in volatility	(7)		12
Other market impacts	(2)		4
Actual policyholder behavior different from expected behavior	9		12
Balance, end of period, before effect of changes in the instrument-specific credit risk	245		259
Effect of changes in the instrument-specific credit risk	(16)		12
Balance, end of period	229		271
Less: reinsurance recoverable			—
Balance, end of period, after reinsurance	$	229	$	271
Net amount at risk	$	1,411	$	1,317
Weighted-average attained age of contract holders (in years)	71		67

The reconciliation of the rollforward for market risk benefits to the condensed consolidated balance sheets as of June 30, 2023 and 2022 is as follows (dollars in millions):

	June 30,						June 30,
	2023						2022
	Asset (1)		Liability		Net		Asset (1)		Liability		Net
U.S. and Latin America – Financial Solutions	$	6	$	235	$	(229)	$	—	$	271	$	(271)
Total market risk benefits	$	6	$	235	$	(229)	$	—	$	271	$	(271)

(1)Included in Other assets