v3.24.2.u1
Future Policy Benefits - Balances of changes in liability for future policy benefits (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 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     $ 4,287  
Beginning balance at original discount rate 15,165 14,583    
Effect of actual variances from expected experience     (18) $ 16
Adjusted beginning of year balance 15,147 14,599    
Issuances 572 666    
Interest accrual 224 237    
Net premium collected (691) (778)    
Foreign exchange impact (46) 206    
Other (4) 10    
Dispositions (5,108)      
Ending balance at original discount rate 10,094 14,940    
Effect of changes in discount rate assumptions (AOCI) (911) (1,965)    
Balance, end of period 9,183 12,975    
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     5,119  
Beginning balance at original discount rate 68,573 62,816    
Effect of actual variances from expected experience     (61) 44
Adjusted beginning of year balance 68,512 62,860    
Issuances 2,528 4,086    
Interest accrual 1,415 1,294    
Benefit payments (2,218) (2,281)    
Foreign exchange impact (136) 544    
Other (12) (1)    
Dispositions (6,796)      
Ending balance at original discount rate 63,293 66,502    
Effect of changes in discount rate assumptions (AOCI) (6,144) (7,119)    
Balance, end of period 57,149 59,383    
Net liability for future policy benefits, end of period 47,966 46,408    
Liability for future policy benefits for certain participating contracts 1,292 1,329    
Liability for universal life policies with secondary guarantees and similar features 3,971 3,458    
Deferred profit liability 2,547 2,450    
Other reconciling items 579 643    
Future policy benefits for life and accident and health insurance contracts 56,355 54,288 57,108  
Less: Reinsurance recoverable: 21,535 23,011    
Net liability for future policy benefits after reinsurance recoverable 34,820 31,277    
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  
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    
Dispositions 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  
Beginning balance at original discount rate 1,485 1,390    
Effect of actual variances from expected experience     (21) (1)
Adjusted beginning of year balance 1,464 1,389    
Issuances 62 120    
Interest accrual 32 25    
Benefit payments (67) (65)    
Foreign exchange impact 0 0    
Other 0 0    
Dispositions 0      
Ending balance at original discount rate 1,491 1,469    
Effect of changes in discount rate assumptions (AOCI) (170) (158)    
Balance, end of period 1,321 1,311    
Net liability for future policy benefits, end of period 1,321 1,311    
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 86    
Other reconciling items 30 35    
Future policy benefits for life and accident and health insurance contracts 1,429 1,432    
Less: Reinsurance recoverable: 4 4    
Net liability for future policy benefits after reinsurance recoverable $ 1,425 $ 1,428    
Weighted average liability duration of the liability for future policy benefits (in years) 7 years 6 months 7 years 9 months 18 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  
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    
Dispositions 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  
Beginning balance at original discount rate 214 213    
Effect of actual variances from expected experience     (2) 0
Adjusted beginning of year balance 212 213    
Issuances 6 6    
Interest accrual 6 5    
Benefit payments (12) (13)    
Foreign exchange impact 0 0    
Other (5) 0    
Dispositions 0      
Ending balance at original discount rate 207 211    
Effect of changes in discount rate assumptions (AOCI) (3) (1)    
Balance, end of period 204 210    
Net liability for future policy benefits, end of period 204 210    
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 213 223    
Less: Reinsurance recoverable: 0 0    
Net liability for future policy benefits after reinsurance recoverable $ 213 $ 223    
Weighted average liability duration of the liability for future policy benefits (in years) 6 years 7 months 6 days 6 years 10 months 24 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     4,287  
Beginning balance at original discount rate 14,148 13,526    
Effect of actual variances from expected experience     (12) 10
Adjusted beginning of year balance 14,136 13,536    
Issuances 572 666    
Interest accrual 202 214    
Net premium collected (634) (719)    
Foreign exchange impact (46) 206    
Other (4) 10    
Dispositions (5,108)      
Ending balance at original discount rate 9,118 13,913    
Effect of changes in discount rate assumptions (AOCI) (845) (1,904)    
Balance, end of period 8,273 12,009    
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     5,119  
Beginning balance at original discount rate 25,395 24,603    
Effect of actual variances from expected experience     (10) 36
Adjusted beginning of year balance 25,385 24,639    
Issuances 565 656    
Interest accrual 435 450    
Benefit payments (814) (943)    
Foreign exchange impact (61) 236    
Other (2) 5    
Dispositions (6,796)      
Ending balance at original discount rate 18,712 25,043    
Effect of changes in discount rate assumptions (AOCI) (1,717) (3,386)    
Balance, end of period 16,995 21,657    
Net liability for future policy benefits, end of period 8,722 9,648    
Liability for future policy benefits for certain participating contracts 12 13    
Liability for universal life policies with secondary guarantees and similar features 3,916 3,402    
Deferred profit liability 21 17    
Other reconciling items 457 513    
Future policy benefits for life and accident and health insurance contracts 13,128 13,593    
Less: Reinsurance recoverable: 699 1,148    
Net liability for future policy benefits after reinsurance recoverable $ 12,429 $ 12,445    
Weighted average liability duration of the liability for future policy benefits (in years) 10 years 10 months 24 days 12 years 6 months    
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  
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    
Dispositions 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  
Beginning balance at original discount rate 20,388 15,098    
Effect of actual variances from expected experience     (12) 17
Adjusted beginning of year balance 20,376 15,115    
Issuances 1,892 3,301    
Interest accrual 439 301    
Benefit payments (594) (521)    
Foreign exchange impact (75) 308    
Other 0 0    
Dispositions 0      
Ending balance at original discount rate 22,038 18,504    
Effect of changes in discount rate assumptions (AOCI) (2,848) (2,752)    
Balance, end of period 19,190 15,752    
Net liability for future policy benefits, end of period 19,190 15,752    
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 1,602 1,468    
Other reconciling items 0 0    
Future policy benefits for life and accident and health insurance contracts 20,792 17,220    
Less: Reinsurance recoverable: 39 39    
Net liability for future policy benefits after reinsurance recoverable $ 20,753 $ 17,181    
Weighted average liability duration of the liability for future policy benefits (in years) 11 years 9 months 18 days 11 years 7 months 6 days    
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  
Beginning balance at original discount rate 1,017 1,057    
Effect of actual variances from expected experience     (6) 6
Adjusted beginning of year balance 1,011 1,063    
Issuances 0 0    
Interest accrual 22 23    
Net premium collected (57) (59)    
Foreign exchange impact 0 0    
Other 0 0    
Dispositions 0      
Ending balance at original discount rate 976 1,027    
Effect of changes in discount rate assumptions (AOCI) (66) (61)    
Balance, end of period 910 966    
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  
Beginning balance at original discount rate 21,091 21,512    
Effect of actual variances from expected experience     $ (16) $ (8)
Adjusted beginning of year balance 21,075 21,504    
Issuances 3 3    
Interest accrual 503 513    
Benefit payments (731) (739)    
Foreign exchange impact 0 0    
Other (5) (6)    
Dispositions 0      
Ending balance at original discount rate 20,845 21,275    
Effect of changes in discount rate assumptions (AOCI) (1,406) (822)    
Balance, end of period 19,439 20,453    
Net liability for future policy benefits, end of period 18,529 19,487    
Liability for future policy benefits for certain participating contracts 1,280 1,316    
Liability for universal life policies with secondary guarantees and similar features 55 56    
Deferred profit liability 837 869    
Other reconciling items 92 92    
Future policy benefits for life and accident and health insurance contracts 20,793 21,820    
Less: Reinsurance recoverable: 20,793 21,820    
Net liability for future policy benefits after reinsurance recoverable $ 0 $ 0    
Weighted average liability duration of the liability for future policy benefits (in years) 10 years 10 months 24 days 11 years 6 months