The following table provides the balances of and changes in the Company’s market risk benefits for the nine months ended September 30, 2024 and 2023 (dollars in millions): | | | | | | | | | | | | | | | | | U.S. and Latin America – Financial Solutions | | | Nine months ended September 30, | | | 2024 | | 2023 | | Balance, beginning of year | | $ | 249 | | | $ | 247 | | | Balance, beginning of year, before effect of changes in the instrument-specific credit risk | | 253 | | | 263 | | | Interest accrual | | 8 | | | 9 | | | Attributed fees collected | | 19 | | | 19 | | | Benefit payments | | — | | | 1 | | | Effect of changes in future assumptions | | 3 | | | 16 | | | Effect of changes in interest rates | | (3) | | | (54) | | | Effect of changes in equity markets | | (39) | | | (25) | | | Effect of changes in volatility | | — | | | (5) | | | Other market impacts | | (13) | | | (11) | | | Actual policyholder behavior different from expected behavior | | 13 | | | 12 | | | Balance, end of period, before effect of changes in the instrument-specific credit risk | | 241 | | | 225 | | | Effect of changes in the instrument-specific credit risk | | (8) | | | (9) | | | Balance, end of period | | 233 | | | 216 | | | Less: reinsurance recoverable | | — | | | — | | | Balance, end of period, after reinsurance | | $ | 233 | | | $ | 216 | | | | | | | | Net amount at risk | | $ | 1,285 | | | $ | 1,375 | | | Weighted average attained age of contract holders (in years) | | 71 | | 71 |
The reconciliation of the rollforward for market risk benefits to the condensed consolidated balance sheets as of September 30, 2024 and 2023 is as follows (dollars in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, | | September 30, | | | 2024 | | 2023 | | | Asset (1) | | Liability | | Net | | Asset (1) | | Liability | | Net | | U.S. and Latin America – Financial Solutions | | $ | 14 | | | $ | 247 | | | $ | (233) | | | $ | 8 | | | $ | 224 | | | $ | (216) | | | Total market risk benefits | | $ | 14 | | | $ | 247 | | | $ | (233) | | | $ | 8 | | | $ | 224 | | | $ | (216) | |
(1)Included in Other assets.
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