v3.24.2.u1
Segment Information - Schedule of continuing operations by operating segment (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums $ 547 $ 2,443 $ 2,842 $ 4,548
Policy fees 721 694 1,435 1,392
Total net investment income 2,988 2,714 5,912 5,409
Total net realized losses (747) (320) (1,067) (1,778)
Advisory fee and other income 201 226 424 448
Total revenues 3,710 5,757 9,546 10,019
Policyholder benefits 1,049 2,876 3,856 5,371
Change in the fair value of market risk benefits, net 25 (262) (344) (66)
Interest credited to policyholder account balances 1,274 1,078 2,473 2,104
Amortization of deferred policy acquisition costs and value of business acquired 260 258 527 514
Non-deferrable insurance commissions 146 153 289 289
Advisory fee expenses 71 64 139 129
General operating expenses 532 604 1,104 1,186
Interest expense 138 134 276 306
Net (gain) on divestitures (241) (59) (246) (56)
Total benefits and expenses 3,254 4,846 8,074 9,777
Net income (loss) attributable to noncontrolling interests 24 20 75 14
Income before income tax expense (benefit) 456 911 1,472 242
Fortitude Holdings        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Total net investment income 325 270 657 664
Income before income tax expense (benefit) 268 262 458 (349)
Operating Segments | Individual Retirement        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 30 66 71 144
Policy fees 200 172 391 346
Total net investment income 1,405 1,224 2,744 2,352
Total net realized losses 0 0 0 0
Advisory fee and other income 108 108 224 211
Total revenues 1,743 1,570 3,430 3,053
Policyholder benefits 33 71 69 136
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 695 553 1,334 1,072
Amortization of deferred policy acquisition costs and value of business acquired 152 138 301 275
Non-deferrable insurance commissions 94 94 184 180
Advisory fee expenses 38 36 73 70
General operating expenses 110 104 226 212
Interest expense 0 0 0 0
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 1,122 996 2,187 1,945
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Adjusted pre-tax operating income (loss) 621 574 1,243 1,108
Operating Segments | Group Retirement        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 0 4 5 10
Policy fees 108 102 215 202
Total net investment income 487 504 982 1,004
Total net realized losses 0 0 0 0
Advisory fee and other income 83 76 166 152
Total revenues 678 686 1,368 1,368
Policyholder benefits (2) 6 1 15
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 300 294 598 585
Amortization of deferred policy acquisition costs and value of business acquired 21 20 42 41
Non-deferrable insurance commissions 30 33 59 61
Advisory fee expenses 32 29 65 58
General operating expenses 102 107 208 225
Interest expense 0 0 0 0
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 483 489 973 985
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Adjusted pre-tax operating income (loss) 195 197 395 383
Operating Segments | Life Insurance        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 331 443 765 868
Policy fees 366 371 734 746
Total net investment income 322 327 648 644
Total net realized losses 0 0 0 0
Advisory fee and other income 1 26 1 55
Total revenues 1,020 1,167 2,148 2,313
Policyholder benefits 627 721 1,375 1,429
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 84 85 167 167
Amortization of deferred policy acquisition costs and value of business acquired 84 98 178 194
Non-deferrable insurance commissions 16 21 35 38
Advisory fee expenses 1 (1) 1 1
General operating expenses 113 167 243 326
Interest expense 0 0 0 0
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 925 1,091 1,999 2,155
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Adjusted pre-tax operating income (loss) 95 76 149 158
Operating Segments | Institutional Markets        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 167 1,911 1,963 3,486
Policy fees 47 49 95 98
Total net investment income 489 407 976 739
Total net realized losses 0 0 0 0
Advisory fee and other income 1 0 2 0
Total revenues 704 2,367 3,036 4,323
Policyholder benefits 394 2,081 2,417 3,799
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 187 133 356 256
Amortization of deferred policy acquisition costs and value of business acquired 3 2 6 4
Non-deferrable insurance commissions 5 4 10 9
Advisory fee expenses 0 0 0 0
General operating expenses 19 21 39 44
Interest expense 0 0 0 0
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 608 2,241 2,828 4,112
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Adjusted pre-tax operating income (loss) 96 126 208 211
Operating Segments | Corporate and Other        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 19 20 38 40
Policy fees 0 0 0 0
Total net investment income 18 19 8 87
Total net realized losses (9) 1 (17) 5
Advisory fee and other income 8 16 31 30
Total revenues 36 56 60 162
Policyholder benefits 0 (3) 0 (3)
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 0 0 0 0
Amortization of deferred policy acquisition costs and value of business acquired 0 0 0 0
Non-deferrable insurance commissions 1 1 1 1
Advisory fee expenses 0 0 0 0
General operating expenses 75 85 161 176
Interest expense 132 129 269 301
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 208 212 431 475
Net income (loss) attributable to noncontrolling interests 24 20 75 14
Adjusted pre-tax operating income (loss) (148) (136) (296) (299)
Eliminations        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 0 0 0 0
Policy fees 0 0 0 0
Total net investment income (5) (1) (13) (11)
Total net realized losses 0 0 0 0
Advisory fee and other income 0 0 0 0
Total revenues (5) (1) (13) (11)
Policyholder benefits 0 0 0 0
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 0 0 0 0
Amortization of deferred policy acquisition costs and value of business acquired 0 0 0 0
Non-deferrable insurance commissions 0 0 0 0
Advisory fee expenses 0 0 0 0
General operating expenses 0 0 0 0
Interest expense (5) 0 (10) (10)
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses (5) 0 (10) (10)
Net income (loss) attributable to noncontrolling interests 0 0 0 0
Adjusted pre-tax operating income (loss) 0 (1) (3) (1)
Adjustments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 0 (1) 0 0
Policy fees 0 0 0 0
Total net investment income 272 234 567 594
Total net realized losses (738) (321) (1,050) (1,783)
Advisory fee and other income 0 0 0 0
Total revenues (466) (88) (483) (1,189)
Policyholder benefits (3) 0 (6) (5)
Change in the fair value of market risk benefits, net 25 (262) (344) (66)
Interest credited to policyholder account balances 8 13 18 24
Amortization of deferred policy acquisition costs and value of business acquired 0 0 0 0
Non-deferrable insurance commissions 0 0 0 0
Advisory fee expenses 0 0 0 0
General operating expenses 113 120 227 203
Interest expense 11 5 17 15
Net (gain) on divestitures (241) (59) (246) (56)
Total benefits and expenses (87) (183) (334) 115
Net income (loss) attributable to noncontrolling interests (24) (20) (75) (14)
Total Corebridge        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Premiums 547 2,444 2,842 4,548
Policy fees 721 694 1,435 1,392
Total net investment income 2,716 2,480 5,345 4,815
Total net realized losses (9) 1 (17) 5
Advisory fee and other income 201 226 424 448
Total revenues 4,176 5,845 10,029 11,208
Policyholder benefits 1,052 2,876 3,862 5,376
Change in the fair value of market risk benefits, net 0 0 0 0
Interest credited to policyholder account balances 1,266 1,065 2,455 2,080
Amortization of deferred policy acquisition costs and value of business acquired 260 258 527 514
Non-deferrable insurance commissions 146 153 289 289
Advisory fee expenses 71 64 139 129
General operating expenses 419 484 877 983
Interest expense 127 129 259 291
Net (gain) on divestitures 0 0 0 0
Total benefits and expenses 3,341 5,029 8,408 9,662
Net income (loss) attributable to noncontrolling interests 24 20 75 14
Adjusted pre-tax operating income (loss) $ 859 $ 836 $ 1,696 $ 1,560