v3.24.1.u1
Future Policy Benefits - Balances of changes in liability for future policy benefits (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Dec. 31, 2022
Present value of expected net premiums        
Balance, beginning of year $ 9,352 $ 12,645    
Effect of changes in discount rate assumptions (AOCI) (1,526) (1,938)    
Reclassified to Liabilities held-for-sale (4,247)   $ (4,287)  
Beginning balance at original discount rate 15,165 14,583    
Effect of actual variances from expected experience     (13) $ 16
Adjusted beginning of year balance 15,152 14,599    
Issuances 353 328    
Interest accrual 128 118    
Net premium collected (410) (389)    
Foreign exchange impact (46) 96    
Other (4) 3    
Ending balance at original discount rate 15,173 14,755    
Effect of changes in discount rate assumptions (AOCI) (1,678) (1,696)    
Balance, end of period 9,248 13,059    
Present value of expected future policy benefits        
Balance, beginning of year 58,237 55,506    
Effect of changes in discount rate assumptions (AOCI) 5,217 7,310    
Reclassified to Liabilities held-for-sale (5,078)   (5,119)  
Beginning balance at original discount rate 68,573 62,816    
Effect of actual variances from expected experience     (23) 17
Adjusted beginning of year balance 68,550 62,833    
Issuances 2,117 1,843    
Interest accrual 724 635    
Benefit payments (1,151) (1,122)    
Foreign exchange impact (143) 402    
Other (6) (2)    
Ending balance at original discount rate 70,091 64,589    
Effect of changes in discount rate assumptions (AOCI) 6,608 (6,013)    
Balance, end of period 58,405 58,576    
Net liability for future policy benefits, end of period 49,157 45,517    
Liability for future policy benefits for certain participating contracts 1,302 1,340    
Liability for universal life policies with secondary guarantees and similar features 3,972 3,512    
Deferred profit liability 2,552 2,395    
Other reconciling items 604 642    
Future policy benefits for life and accident and health insurance contracts 57,587 53,406 57,108  
Less: Reinsurance recoverable: 22,107 23,491    
Net liability for future policy benefits after reinsurance recoverable 35,480 29,915    
Individual Retirement        
Present value of expected net premiums        
Balance, beginning of year 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 1
Adjusted beginning of year balance 0 1    
Issuances 0 6    
Interest accrual 0 0    
Net premium collected 0 (7)    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 1,353 1,223    
Effect of changes in discount rate assumptions (AOCI) 132 167    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 1,485 1,390    
Effect of actual variances from expected experience     (6) (3)
Adjusted beginning of year balance 1,479 1,387    
Issuances 34 70    
Interest accrual 16 12    
Benefit payments (33) (32)    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 1,496 1,437    
Effect of changes in discount rate assumptions (AOCI) 153 (141)    
Balance, end of period 1,343 1,296    
Net liability for future policy benefits, end of period 1,343 1,296    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies with secondary guarantees and similar features 0 0    
Deferred profit liability 78 83    
Other reconciling items 31 39    
Future policy benefits for life and accident and health insurance contracts 1,452 1,418    
Less: Reinsurance recoverable: 4 4    
Net liability for future policy benefits after reinsurance recoverable $ 1,448 $ 1,414    
Weighted average liability duration of the liability for future policy benefits (in years) 7 years 8 months 12 days 7 years 8 months 12 days    
Group Retirement        
Present value of expected net premiums        
Balance, beginning of year $ 0 $ 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance 0 0    
Issuances 0 0    
Interest accrual 0 0    
Net premium collected 0 0    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 217 211    
Effect of changes in discount rate assumptions (AOCI) (3) 2    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 214 213    
Effect of actual variances from expected experience     (1) (1)
Adjusted beginning of year balance 213 212    
Issuances 5 2    
Interest accrual 3 3    
Benefit payments (7) (7)    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 214 210    
Effect of changes in discount rate assumptions (AOCI) 0 3    
Balance, end of period 214 213    
Net liability for future policy benefits, end of period 214 213    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies with secondary guarantees and similar features 0 0    
Deferred profit liability 9 10    
Other reconciling items 0 3    
Future policy benefits for life and accident and health insurance contracts 223 226    
Less: Reinsurance recoverable: 0 0    
Net liability for future policy benefits after reinsurance recoverable $ 223 $ 226    
Weighted average liability duration of the liability for future policy benefits (in years) 6 years 8 months 12 days 7 years 1 month 6 days    
Life Insurance        
Present value of expected net premiums        
Balance, beginning of year $ 8,379 $ 11,654    
Effect of changes in discount rate assumptions (AOCI) (1,482) (1,872)    
Reclassified to Liabilities held-for-sale (4,247)   (4,287)  
Beginning balance at original discount rate 14,148 13,526    
Effect of actual variances from expected experience     (13) 12
Adjusted beginning of year balance 14,135 13,538    
Issuances 353 322    
Interest accrual 117 106    
Net premium collected (381) (352)    
Foreign exchange impact (46) 96    
Other (4) 3    
Ending balance at original discount rate 14,174 13,713    
Effect of changes in discount rate assumptions (AOCI) (1,621) (1,648)    
Balance, end of period 8,306 12,065    
Present value of expected future policy benefits        
Balance, beginning of year 17,531 21,179    
Effect of changes in discount rate assumptions (AOCI) 2,745 3,424    
Reclassified to Liabilities held-for-sale (5,078)   (5,119)  
Beginning balance at original discount rate 25,395 24,603    
Effect of actual variances from expected experience     (7) 26
Adjusted beginning of year balance 25,388 24,629    
Issuances 350 318    
Interest accrual 236 224    
Benefit payments (458) (476)    
Foreign exchange impact (61) 277    
Other (3) 1    
Ending balance at original discount rate 25,452 24,973    
Effect of changes in discount rate assumptions (AOCI) 3,149 (3,081)    
Balance, end of period 17,225 21,892    
Net liability for future policy benefits, end of period 8,919 9,827    
Liability for future policy benefits for certain participating contracts 13 14    
Liability for universal life policies with secondary guarantees and similar features 3,917 3,457    
Deferred profit liability 20 16    
Other reconciling items 477 493    
Future policy benefits for life and accident and health insurance contracts 13,346 13,807    
Less: Reinsurance recoverable: 714 1,187    
Net liability for future policy benefits after reinsurance recoverable $ 12,632 $ 12,620    
Weighted average liability duration of the liability for future policy benefits (in years) 12 years 7 months 6 days 12 years 4 months 24 days    
Institutional Markets        
Present value of expected net premiums        
Balance, beginning of year $ 0 $ 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 0 0    
Effect of actual variances from expected experience     0 0
Adjusted beginning of year balance 0 0    
Issuances 0 0    
Interest accrual 0 0    
Net premium collected 0 0    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 0 0    
Effect of changes in discount rate assumptions (AOCI) 0 0    
Balance, end of period 0 0    
Present value of expected future policy benefits        
Balance, beginning of year 18,482 12,464    
Effect of changes in discount rate assumptions (AOCI) 1,906 2,634    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 20,388 15,098    
Effect of actual variances from expected experience     0 (5)
Adjusted beginning of year balance 20,388 15,093    
Issuances 1,726 1,450    
Interest accrual 217 139    
Benefit payments (283) (228)    
Foreign exchange impact (82) 125    
Other 0 0    
Ending balance at original discount rate 21,966 16,579    
Effect of changes in discount rate assumptions (AOCI) 2,347 (2,302)    
Balance, end of period 19,619 14,277    
Net liability for future policy benefits, end of period 19,619 14,277    
Liability for future policy benefits for certain participating contracts 0 0    
Liability for universal life policies with secondary guarantees and similar features 0 0    
Deferred profit liability 1,595 1,415    
Other reconciling items 0 0    
Future policy benefits for life and accident and health insurance contracts 21,214 15,692    
Less: Reinsurance recoverable: 37 37    
Net liability for future policy benefits after reinsurance recoverable $ 21,177 $ 15,655    
Weighted average liability duration of the liability for future policy benefits (in years) 12 years 2 months 12 days 11 years 6 months    
Corporate and Other        
Present value of expected net premiums        
Balance, beginning of year $ 973 $ 991    
Effect of changes in discount rate assumptions (AOCI) (44) (66)    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 1,017 1,057    
Effect of actual variances from expected experience     0 3
Adjusted beginning of year balance 1,017 1,060    
Issuances 0 0    
Interest accrual 11 12    
Net premium collected (29) (30)    
Foreign exchange impact 0 0    
Other 0 0    
Ending balance at original discount rate 999 1,042    
Effect of changes in discount rate assumptions (AOCI) (57) (48)    
Balance, end of period 942 994    
Present value of expected future policy benefits        
Balance, beginning of year 20,654 20,429    
Effect of changes in discount rate assumptions (AOCI) 437 1,083    
Reclassified to Liabilities held-for-sale 0   0  
Beginning balance at original discount rate 21,091 21,512    
Effect of actual variances from expected experience     $ (9) $ 0
Adjusted beginning of year balance 21,082 21,512    
Issuances 2 3    
Interest accrual 252 257    
Benefit payments (370) (379)    
Foreign exchange impact 0 0    
Other (3) (3)    
Ending balance at original discount rate 20,963 21,390    
Effect of changes in discount rate assumptions (AOCI) 959 (492)    
Balance, end of period 20,004 20,898    
Net liability for future policy benefits, end of period 19,062 19,904    
Liability for future policy benefits for certain participating contracts 1,289 1,326    
Liability for universal life policies with secondary guarantees and similar features 55 55    
Deferred profit liability 850 871    
Other reconciling items 96 107    
Future policy benefits for life and accident and health insurance contracts 21,352 22,263    
Less: Reinsurance recoverable: 21,352 22,263    
Net liability for future policy benefits after reinsurance recoverable $ 0 $ 0    
Weighted average liability duration of the liability for future policy benefits (in years) 11 years 2 months 12 days 11 years 7 months 6 days