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Policyholder Account Balances
 9 Months Ended
Sep. 30, 2024
Insurance [Abstract]  
Long-Duration Insurance Contracts Disclosure POLICYHOLDER ACCOUNT BALANCES
Policyholder Account Balances
The following tables provide the balances of and changes in the Company’s liability for its policyholder account balances, reflected in interest-sensitive contract liabilities, for the nine months ended September 30, 2024 and 2023 (dollars in millions):
For the nine months ended September 30, 2024:
U.S. and Latin America – TraditionalU.S. and Latin America – Financial SolutionsAsia Pacific – Financial Solutions
Balance, beginning of year$1,612 $17,838 $3,990 
Deposits1,779 101 1,262 
Policy charges(103)(61)(137)
Surrenders and withdrawals(11)(1,598)(903)
Benefit payments(91)(346)(331)
Interest credited132 432 84 
Foreign currency translation— — 4 
Balance, end of period$3,318 $16,366 $3,969 
Less: reinsurance recoverable— (2,844)— 
Balance, end of period, after reinsurance$3,318 $13,522 $3,969 
Weighted average crediting rate3.1 %3.5 %3.7 %
Net amount at risk (1)
$34,671 $6,614 $13 
Cash surrender value$3,313 $16,262 $3,618 
For the nine months ended September 30, 2023:
U.S. and Latin America – TraditionalU.S. and Latin America – Financial SolutionsAsia Pacific – Financial Solutions
Balance, beginning of year$1,683 $18,906 $3,351 
Deposits20 84 765 
Policy charges(23)(26)(5)
Surrenders and withdrawals(11)(1,517)(93)
Benefit payments(96)(357)(79)
Interest credited49 425 82 
Foreign currency translation— — (43)
Balance, end of period$1,622 $17,515 $3,978 
Less: reinsurance recoverable— (1,501)— 
Balance, end of period, after reinsurance$1,622 $16,014 $3,978 
Weighted average crediting rate4.4 %3.3 %3.0 %
Net amount at risk (1)
$664 $2,410 $— 
Cash surrender value$1,608 $17,479 $3,760 
(1)    Net amount at risk is defined as the guaranteed amount less the account value as of the balance sheet date. The balance represents the amount of the claim the Company would incur if death claims were filed on all contracts on the balance sheet date.
Information regarding the Company’s policyholder account balances as of September 30, 2024 and 2023 is as follows (dollars in millions):
September 30,
20242023
Policyholder account balances included in the rollforwards:
Traditional:
U.S. and Latin America$3,318 $1,622 
Financial Solutions:
U.S. and Latin America16,366 17,515 
Asia Pacific3,969 3,978 
Other policyholder account balances
U.S. and Latin America – Financial Solutions76 51 
Total policyholder account balances$23,729 $23,166 
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 minimums as of September 30, 2024 and 2023 is as follows (dollars in millions):
September 30, 2024
Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 Basis Point – 50 Basis Points Above51 Basis Points – 100 Basis Points Above101 Basis Points – 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
U.S. and Latin America – TraditionalLess than 1.00%$702 $— $— $— $— $702 
1.00 – 1.99%56 2 8 — — 66 
2.00 – 2.99%108 — — 1 — 109 
3.00 – 3.99%495 7 117 — — 619 
4.00% and Greater739 103 980 — — 1,822 
Total$2,100 $112 $1,105 $1 $— $3,318 
U.S. and Latin America – Financial SolutionsLess than 1.00%$— $— $— $— $— $— 
1.00 – 1.99%1,342 12 10 35 29 1,428 
2.00 – 2.99%1,301 15 35 530 170 2,051 
3.00 – 3.99%3,693 213 116 4 2 4,028 
4.00% and Greater8,827 32 — — — 8,859 
Total$15,163 $272 $161 $569 $201 $16,366 
Asia Pacific – Financial SolutionsLess than 1.00%$193 $— $— $— $— $193 
1.00 – 1.99%477 — — — — 477 
2.00 – 2.99%492 — — — — 492 
3.00 – 3.99%993 — — — — 993 
4.00% and Greater1,814 — — — — 1,814 
Total$3,969 $— $— $— $— $3,969 
September 30, 2023
Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 Basis Point – 50 Basis Points Above51 Basis Points – 100 Basis Points Above101 Basis Points – 150 Basis Points AboveGreater Than 150 Basis Points AboveTotal
U.S. and Latin America – TraditionalLess than 1.00%$— $— $— $— $— $— 
1.00 – 1.99%— — — — — — 
2.00 – 2.99%— — — — — — 
3.00 – 3.99%— — — — — — 
4.00% and Greater514 108 1,000 — — 1,622 
Total$514 $108 $1,000 $— $— $1,622 
U.S. and Latin America – Financial SolutionsLess than 1.00%$— $— $— $— $— $— 
1.00 – 1.99%1,681 10 15 63 35 1,804 
2.00 – 2.99%1,625 14 42 608 62 2,351 
3.00 – 3.99%4,335 234 81 2 — 4,652 
4.00% and Greater8,665 43 — — — 8,708 
Total$16,306 $301 $138 $673 $97 $17,515 
Asia Pacific – Financial SolutionsLess than 1.00%$281 $— $— $— $— $281 
1.00 – 1.99%699 — — — — 699 
2.00 – 2.99%827 — — — — 827 
3.00 – 3.99%1,289 — — — — 1,289 
4.00% and Greater882 — — — — 882 
Total$3,978 $— $— $— $— $3,978