v3.25.0.1
Statutory Information and Restrictions (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Statutory Capital and Surplus
As of December 31,
20242023
U.S. capital and surplus$7,407 $8,129 

For the Years Ended December 31,
202420232022
U.S. net gain (loss) from operations, after-tax$(3,177)$(2,484)$1,730 
U.S. net income (loss)(2,268)(2,916)1,991 
U.S. cash dividends to LNC holding company491 510 667 
Effects on Statutory Surplus Compared to NAIC Statutory Surplus
The favorable (unfavorable) effects on statutory surplus compared to NAIC statutory surplus from the use of these prescribed and permitted practices (in millions) were as follows:

As of December 31,
20242023
State Prescribed Practices
Calculation of reserves using the Indiana universal life method$(3)$(1)
Conservative valuation rate on certain annuities1 (1)
Calculation of reserves using continuous CARVM1 (1)
Conservative Reg 213 reserves on variable annuity and individual life contracts20 (31)
State Permitted Practice
Derivative instruments and equity indexed reserves(232)(170)
Assets in group fixed annuity contracts held at general account balances304 332 
Vermont Subsidiaries Permitted Practices
Lesser of LOC and XXX additional reserve as surplus1,722 1,776 
LLC notes and variable value surplus notes1,320 1,444 
Excess of loss reinsurance agreements541 563