Document and Entity Information - $ / shares	3 Months Ended
Document and Entity Information - $ / shares	Mar. 31, 2024	Apr. 29, 2024	Dec. 31, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-35897
Entity Registrant Name	Voya Financial, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1222820
Entity Address, Address Line One	230 Park Avenue
Entity Address, State or Province	New York
Entity Address, Postal Zip Code	10169
City Area Code	212
Local Phone Number	309-8200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,701,204
Common stock, par value (usd per share)	$ 0.01		$ 0.01
Entity Central Index Key	0001535929
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Address, State or Province	NY
Common Stock, $.01 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	VOYA
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/40th
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/40th
Trading Symbol	VOYAPrB
Security Exchange Name	NYSE

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Investments:
Short-term investments under securities loan agreements, including collateral delivered	$ 1,014.0	$ 1,015.0
Accrued investment income	421.0	411.0
Premium receivable and reinsurance recoverable (net of allowance for credit losses of $22 and $28 as of 2024 and 2023, respectively)	11,828.0	11,982.0
Deferred policy acquisition costs and Value of business acquired	2,222.0	2,250.0
Deferred income taxes	2,178.0	2,160.0
Goodwill	748.0	748.0
Other intangibles, net	861.0	857.0
Assets held in separate accounts	98,636.0	93,133.0
Total assets	161,631.0	157,085.0
Liabilities:
Future policy benefits	9,427.0	9,560.0
Contract owner account balances	38,442.0	39,174.0
Payables under securities loan and repurchase agreements, including collateral held	1,220.0	1,121.0
Short-term debt	393.0	1.0
Long-term debt	1,707.0	2,097.0
Derivatives	332.0	371.0
Liabilities related to separate accounts	98,636.0	93,133.0
Total liabilities	155,760.0	151,032.0
Commitments and Contingencies (Note 17)
Mezzanine equity:
Redeemable noncontrolling interest	174.0	175.0
Shareholders' equity:
Preferred stock ($0.01 par value per share; $625 aggregate liquidation preference as of 2024 and 2023)	0.0	0.0
Common stock ($0.01 par value per share; 900,000,000 shares authorized; 104,950,844 and 103,584,699 shares issued as of 2024 and 2023, respectively; 101,291,480 and 102,854,569 shares outstanding as of 2024 and 2023, respectively)	1.0	1.0
Treasury stock (at cost; 3,659,364 and 730,130 shares as of 2024 and 2023, respectively)	(263.0)	(56.0)
Additional paid-in capital	6,187.0	6,143.0
Accumulated other comprehensive income (loss)	(2,469.0)	(2,400.0)
Retained earnings (deficit):
Unappropriated	697.0	505.0
Total Voya Financial, Inc. shareholders' equity	4,153.0	4,193.0
Noncontrolling interest	1,544.0	1,685.0
Total shareholders' equity	5,697.0	5,878.0
Total liabilities, mezzanine equity and shareholders' equity	161,631.0	157,085.0
Excluding consolidated VIEs
Investments:
Fixed maturities, available-for-sale, at fair value (amortized cost of $26,979 and $27,690 as of 2024 and 2023, respectively; net of allowance for credit losses of $22 and $17 as of 2024 and 2023, respectively)	24,561.0	25,375.0
Fixed maturities, at fair value using the fair value option	1,913.0	2,076.0
Equity securities, at fair value	219.0	236.0
Short-term investments	176.0	213.0
Mortgage loans on real estate (net of allowance for credit losses of $26 as of 2024 and 2023)	5,092.0	5,192.0
Policy loans	349.0	352.0
Limited partnerships/corporations	1,708.0	1,621.0
Derivatives	378.0	311.0
Other investments	64.0	64.0
Securities pledged (amortized cost of $1,330 and $1,232 as of 2024 and 2023, respectively)	1,227.0	1,160.0
Total investments	35,687.0	36,600.0
Cash and cash equivalents	995.0	937.0
Other assets	2,418.0	2,372.0
Corporate loans, at fair value using the fair value option	5,092.0	5,192.0
Liabilities:
Other liabilities	2,866.0	2,956.0
VIEs
Investments:
Mortgage loans on real estate (net of allowance for credit losses of $26 as of 2024 and 2023)	1,500.0	1,404.0
Limited partnerships/corporations	2,881.0	2,861.0
Cash and cash equivalents	181.0	181.0
Other assets	61.0	174.0
Corporate loans, at fair value using the fair value option	1,500.0	1,404.0
Liabilities:
Other liabilities	1,369.0	1,287.0
Collateralized loan obligations notes, at fair value using the fair value option	$ 1,368.0	$ 1,332.0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Fixed maturities, Amortized Cost	$ 26,979	$ 27,690
Fixed maturities, allowance for credit losses	22	17
Mortgage loans, allowance for credit losses	26
Securities pledged, Amortized Cost	1,330	1,232
Premium receivable and reinsurance recoverable, allowance for credit losses	22	$ 28
Other assets, allowance for credit losses	$ 1
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, aggregate liquidation preference	$ 625	$ 625
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares outstanding (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	104,950,844	103,584,699
Common stock, shares outstanding (in shares)	101,291,480	102,854,569
Treasury stock (in shares)	3,659,364	730,130

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Net investment income	$ 529	$ 545
Fee income	513	464
Premiums	800	685
Net gains (losses)	43	(16)
Other revenue	88	78
Income (loss) related to CIEs:
Net investment income	78	79
Total revenues	2,051	1,835
Benefits and expenses:
Policyholder benefits	605	510
Interest credited to contract owner account balances	246	241
Operating expenses	799	836
Net amortization of Deferred policy acquisition costs and Value of business acquired	56	59
Interest expense	30	32
Operating expenses related to CIEs:
Interest expense	27	16
Other expense	1	0
Total benefits and expenses	1,764	1,694
Income (loss) before income taxes	287	141
Income tax expense (benefit)	(1)	12
Net income (loss)	288	129
Less: Net income (loss) attributable to noncontrolling interest	37	46
Net income (loss) available to Voya Financial, Inc.	251	83
Less: Preferred stock dividends	17	14
Net income (loss) available to Voya Financial, Inc.'s common shareholders	$ 234	$ 69
Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share:
Basic (usd per share)	$ 2.29	$ 0.70
Diluted (usd per share)	$ 2.24	$ 0.63

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 288	$ 129
Other comprehensive income (loss), before tax:
Change in current discount rate	38	2
Unrealized gains (losses) on securities	(125)	643
Other comprehensive income (loss), before tax	(87)	645
Income tax expense (benefit) related to items of other comprehensive income (loss)	(18)	135
Other comprehensive income (loss), after tax	(69)	510
Comprehensive income (loss)	219	639
Less: Comprehensive income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	37	46
Comprehensive income (loss) attributable to Voya Financial, Inc.	$ 182	$ 593

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Total Voya Financial, Inc. Shareholders' Equity	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Deficit), Unappropriated	Noncontrolling Interest
Beginning balance at Dec. 31, 2022	$ 4,831	$ 3,349	$ 1	$ (39)	$ 6,643	$ (3,055)	$ (201)	$ 1,482
Comprehensive income (loss):
Net income (loss)	127	83	0	0	0	0	83	44
Other comprehensive income (loss), after tax	510	510	0	0	0	510	0	0
Total comprehensive income (loss)	639	593
Total comprehensive income (loss)	46							44
Total comprehensive income (loss)	637
Dividends on preferred stock	(14)	(14)	0	0	(14)	0	0	0
Dividends on common stock	(20)	(20)	0	0	(20)	0	0	0
Share-based compensation	46	46	0	(38)	84	0	0	0
Contributions from (Distributions to) noncontrolling interest, net	41	0	0	0	0	0	0	41
Ending Balance at Mar. 31, 2023	5,521	3,954	1	(77)	6,693	(2,545)	(118)	1,567
Mezzanine Equity: Redeemable Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	166
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	2
Total comprehensive income (loss)	2
Contributions from (Distributions to) noncontrolling interest, net	(2)
Mezzanine Equity: Redeemable Noncontrolling Interest, Ending Balance at Mar. 31, 2023	166
Beginning balance at Dec. 31, 2023	5,878	4,193	1	(56)	6,143	(2,400)	505	1,685
Comprehensive income (loss):
Net income (loss)	281	251	0	0	0	0	251	30
Other comprehensive income (loss), after tax	(69)	(69)	0	0	0	(69)	0	0
Total comprehensive income (loss)	219	182
Total comprehensive income (loss)	37							30
Total comprehensive income (loss)	212
Common stock issuance	3	3	0	0	3	0	0	0
Common stock acquired - Share repurchase	(172)	(172)	0	(172)	0	0	0	0
Dividends on preferred stock	(17)	(17)	0	0	0	0	(17)	0
Dividends on common stock	(41)	(41)	0	0	0	0	(41)	0
Share-based compensation	5	5	0	(35)	41	0	(1)	0
Contributions from (Distributions to) noncontrolling interest, net	(171)	0	0	0	0	0	0	(171)
Ending Balance at Mar. 31, 2024	5,697	$ 4,153	$ 1	$ (263)	$ 6,187	$ (2,469)	$ 697	$ 1,544
Mezzanine Equity: Redeemable Noncontrolling Interest, Beginning Balance at Dec. 31, 2023	175
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss)	7
Total comprehensive income (loss)	7
Contributions from (Distributions to) noncontrolling interest, net	(8)
Mezzanine Equity: Redeemable Noncontrolling Interest, Ending Balance at Mar. 31, 2024	$ 174

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities:
Net cash provided by operating activities	$ 231	$ 156
Proceeds from the sale, maturity, disposal or redemption of:
Fixed maturities	1,262	1,979
Equity securities	26	28
Mortgage loans on real estate	206	175
Limited partnerships/corporations	38	32
Acquisition of:
Fixed maturities	(504)	(1,293)
Equity securities	(3)	(25)
Mortgage loans on real estate	(107)	(76)
Limited partnerships/corporations	(125)	(44)
Short-term investments, net	36	323
Derivatives, net	58	2
Sales from CIEs	307	205
Purchases within CIEs	(267)	(300)
Collateral received (delivered), net	102	(43)
Receipts on deposit asset contracts	69	72
Payments for business acquisitions, net of cash acquired	0	(534)
Net cash provided by (used in) investing activities	(16)	(29)
Net cash provided by (used in) investing activities	1,082	472
Cash Flows from Financing Activities:
Deposits received for investment contracts	825	730
Maturities and withdrawals from investment contracts	(1,677)	(1,594)
Repayments of long-term debt, including current maturities	0	(5)
Borrowings of CIEs	73	103
Repayments of borrowings of CIEs	(52)	(39)
Contributions from (distributions to) participants in CIEs, net	(150)	66
Proceeds from issuance of common stock, net	3	0
Common stock acquired - Share repurchase	(172)	0
Dividends paid on preferred stock	(17)	(14)
Dividends paid on common stock	(41)	(20)
Other, net	(47)	(38)
Net cash provided by (used in) financing activities	(1,255)	(811)
Net increase (decrease) in cash and cash equivalents, including cash in CIEs	58	(183)
Cash and cash equivalents, including cash in CIEs, beginning of period	1,118	1,007
Cash and cash equivalents, including cash in CIEs, end of period	1,176	$ 824
Total cash and cash equivalents, including cash in CIEs	1,176
Excluding consolidated VIEs
Cash and cash equivalents	995
VIEs
Cash and cash equivalents	$ 181

Business, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Business Description and Basis of Presentation	Business, Basis of Presentation and Significant Accounting Policies Business Voya Financial, Inc. and its subsidiaries (collectively, the "Company") is a financial services organization that offers a broad range of retirement services, group insurance and supplemental health products, investment management services and mutual funds primarily in the United States. Products and services are provided by the Company through three segments: Wealth Solutions, Health Solutions and Investment Management. Activities not directly related to the Company's segments and certain run-off activities that are not meaningful to the Company's business strategy are included within Corporate. See the Segments Note to these Condensed Consolidated Financial Statements. On January 24, 2023, the Company acquired all outstanding shares of Benefitfocus, Inc. ("Benefitfocus"), pursuant to an agreement and plan of merger (the "Merger Agreement") entered into on November 1, 2022. The acquisition expands the Company’s capacity to meet the growing demand for comprehensive benefits and savings solutions and increases its ability to deliver innovative solutions for employers and health plans. The total purchase consideration for the acquisition was $595, of which $583 was paid in cash ($558 paid by the Company and $25 of the cash acquired was used to fund the transaction). Net assets acquired as part of this transaction included cash of $49, goodwill of $319, intangible assets of $275, deferred tax assets of $45 and assumed lease liabilities of $91. Intangible assets primarily include customer relationships of $190 with a useful life of 15 years, and software of $70 with a useful life of 5 years. The revenues, expenses, assets and liabilities of the business acquired are reported in the Health Solutions segment. On August 1, 2023, the Company acquired all remaining equity interest in VFI SLK Global Services Private Limited previously held by SLK Software Private Limited ("SLK") and renamed the entity as Voya Global Services Private Limited ("Voya India"). Voya India was a private limited company in India formed pursuant to a joint venture agreement between the Company and SLK on August 1, 2019, with the Company and SLK holding 49% and 51% of ownership shares, respectively. The purpose of Voya India is to provide technology and business operation services to the Company. As a result of the acquisition, Voya India has become a wholly owned subsidiary of the Company and provides the Company with improved strategic and operational flexibility. As part of the purchase consideration, an upfront payment of approximately $53 was made at closing. Net assets acquired as part of this transaction included goodwill of $102. The revenues, expenses, assets and liabilities of the business acquired are reported in Corporate. Intercompany balances between Voya India and other Voya subsidiaries are eliminated in the Condensed Consolidated Financial Statements. Basis of Presentation The accompanying Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and are unaudited. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Those estimates are inherently subject to change and actual results could differ from those estimates, and the differences may be material to the Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements include the accounts of Voya Financial, Inc. and its subsidiaries, as well as other voting interest entities ("VOEs") and variable interest entities ("VIEs") in which the Company has a controlling financial interest. See the Consolidated and Nonconsolidated Investment Entities Note to these Condensed Consolidated Financial Statements. Intercompany transactions and balances have been eliminated. The accompanying Condensed Consolidated Financial Statements are unaudited and reflect adjustments (including normal, recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows for the interim periods presented in conformity with U.S. GAAP. Interim results are not necessarily indicative of full year performance. Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. These reclassifications had no impact on Net income (loss) or Total shareholders’ equity. The December 31, 2023 Consolidated Balance Sheets is from the audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K filed with the SEC. Therefore, these unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and related notes included in the Company's Annual Report on Form 10-K. Adoption of New Pronouncements Equity Securities Subject to Contractual Sale Restrictions In June 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-03, "Fair Value Measurement (Topic 280): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions" ("ASU 2022-03"), which clarifies that contractual restrictions on equity security sales are not considered part of the security unit of account and, therefore, are not considered in measuring the fair value. In addition, the restrictions cannot be recognized and measured as separate units of account. Disclosures on such restrictions are also required. The provisions of ASU 2022-03 were adopted prospectively on January 1, 2024. The adoption did not have an impact on the Company's financial condition, results of operations, or cash flows. Future Adoption of Accounting Pronouncements Profits Interest and Similar Awards In March 2024, the FASB issued ASU 2024-01, "Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards" ("ASU 2024-01"), which adds incremental clarity for how profits interests should be accounted. ASU 2024-01 is effective for annual periods beginning after December 15, 2024 and interim periods within those annual periods with early adoption permitted. The Company intends to adopt ASU 2024-01 as of January 1, 2025 on a prospective basis, and does not expect this ASU to have a material impact on the Company's financial condition, results of operations, or cash flows. Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires: •A tabular rate reconciliation of (1) reported income tax expense/benefit from continuing operations, to (2) the product of the income/loss from continuing operations before income taxes and the statutory federal income tax rate, using specific categories, as well as disclosure of certain reconciling items based on a 5% threshold. •Year-to-date net income taxes paid, disaggregated by federal, state, and foreign, as well as disaggregated information on net income taxes paid to an individual jurisdiction based on a 5% threshold. The amendments are effective for annual periods beginning after December 15, 2024 and should be applied prospectively, with retrospective application permitted. Early adoption is also permitted. The Company is currently in the process of determining the impacts of adoption of the provisions of ASU 2023-09. Segment Disclosures In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which requires all current annual disclosures about profit/loss and assets to be reported in interim periods, as well as enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024, and are required to be applied retrospectively. Restated prior period disclosures should be based on the significant segment expense categories disclosed in the period of adoption. The Company is currently in the process of determining the impacts of adoption of the provisions of ASU 2023-07. Climate Related Disclosures In March 2024, the SEC adopted a final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, to enhance and standardize climate-related disclosures. The rule will require companies to disclose material Scope 1 and Scope 2 greenhouse gas emissions; climate-related risks, governance, and oversight; and the financial effects of severe weather events and other natural conditions. These disclosures will be phased in beginning with the Company's annual report for the year ending December 31, 2025. While the implementation of this rule is pending the outcome of legal challenges, the Company is currently assessing the impact of adoption on the Consolidated Financial Statements and related disclosures in the event that the stay is lifted.

Investments (excluding Consolidated Investment Entities)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments (excluding Consolidated Investment Entities)

Fixed Maturities

Available-for-sale and fair value option ("FVO") fixed maturities were as follows as of March 31, 2024:


	Amortized Cost		Gross Unrealized Capital Gains		Gross Unrealized Capital Losses		Embedded Derivatives(2)		Allowance for credit losses		Fair Value
Fixed maturities:
U.S. Treasuries	$	424	$	3	$	26	$	—	$	—	$	401
U.S. Government agencies and authorities	54		2		1		—		—		55
State, municipalities and political subdivisions	785		—		104		—		—		681
U.S. corporate public securities	8,165		148		974		—		—		7,339
U.S. corporate private securities	5,046		37		363		—		—		4,720
Foreign corporate public securities and foreign governments(1)	2,797		41		273		—		2		2,563
Foreign corporate private securities(1)	2,845		20		152		—		1		2,712
Residential mortgage-backed securities	3,586		28		276		1		—		3,339
Commercial mortgage-backed securities	4,059		3		584		—		14		3,464
Other asset-backed securities	2,461		25		54		—		5		2,427
Total fixed maturities, including securities pledged	30,222		307		2,807		1		22		27,701
Less: Securities pledged	1,330		—		103		—		—		1,227
Total fixed maturities	$	28,892	$	307	$	2,704	$	1	$	22	$	26,474

(1) Primarily U.S. dollar denominated.

(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Net gains (losses) in the Condensed Consolidated Statements of Operations.

Available-for-sale and FVO fixed maturities were as follows as of December 31, 2023:


	Amortized Cost		Gross Unrealized Capital Gains		Gross Unrealized Capital Losses		Embedded Derivatives(2)		Allowance for credit losses		Fair Value
Fixed maturities:
U.S. Treasuries	$	417	$	7	$	21	$	—	$	—	$	403
U.S. Government agencies and authorities	54		3		1		—		—		56
State, municipalities and political subdivisions	871		1		101		—		—		771
U.S. corporate public securities	8,402		168		904		—		—		7,666
U.S. corporate private securities	5,040		44		324		—		—		4,760
Foreign corporate public securities and foreign governments(1)	2,928		47		270		—		3		2,702
Foreign corporate private securities(1)	2,916		27		129		—		2		2,812
Residential mortgage-backed securities	3,695		36		257		2		—		3,476
Commercial mortgage-backed securities	4,147		1		644		—		9		3,495
Other asset-backed securities	2,528		16		71		—		3		2,470
Total fixed maturities, including securities pledged	30,998		350		2,722		2		17		28,611
Less: Securities pledged	1,232		—		72		—		—		1,160
Total fixed maturities	$	29,766	$	350	$	2,650	$	2	$	17	$	27,451

(1) Primarily U.S. dollar denominated.

(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Net gains (losses) in the Condensed Consolidated Statements of Operations.

The amortized cost and fair value of fixed maturities, including securities pledged, as of March 31, 2024, are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called or prepaid. Mortgage-backed securities ("MBS") and Other asset-backed securities ("ABS") are shown separately because they are not due at a single maturity date.


	Amortized Cost		Fair Value
Due to mature:
One year or less	$	759	$	744
After one year through five years	3,796		3,654
After five years through ten years	3,744		3,600
After ten years	11,817		10,473
Mortgage-backed securities	7,645		6,803
Other asset-backed securities	2,461		2,427
Fixed maturities, including securities pledged	$	30,222	$	27,701

As of March 31, 2024 and December 31, 2023, the Company did not have any investments in a single issuer, other than obligations of the U.S. Government and government agencies, with a carrying value in excess of 10% of the Company’s Total shareholders' equity.

Repurchase Agreements and Securities Pledged

As of March 31, 2024 and December 31, 2023, the Company did not have any securities pledged in dollar rolls or reverse repurchase agreements.

The Company engages in securities lending whereby the initial collateral is required at a rate of at least 102% of the market value of the loaned securities. The lending agent retains the collateral and invests it in high quality liquid assets on behalf of the Company. The market value of the loaned securities is monitored on a daily basis with additional collateral obtained or refunded as the market value of the loaned securities fluctuates. The lending agent indemnifies the Company against losses resulting from the failure of a counterparty to return securities pledged where collateral is insufficient to cover the loss.

In the normal course of business, the Company receives cash collateral and non-cash collateral in the form of securities. If cash is received as collateral, the lending agent retains the cash collateral and invests it in short-term liquid assets on behalf of the Company. Securities retained as collateral by the lending agent may not be sold or re-pledged, except in the event of default, and are not reflected on the Company’s Condensed Consolidated Balance Sheets. This collateral generally consists of U.S. Treasury, U.S. Government agency securities and MBS pools.

The following table presents Securities pledged as of the dates indicated:


	March 31, 2024		December 31, 2023
Securities pledged/obligations under repurchase agreements(1)	$	114	$	117
Securities loaned to lending agent(2)	912		842
Securities pledged as collateral(2)(3)	201		201
Total	$	1,227	$	1,160

(1) Comprised of other asset-backed securities and included in Securities pledged and Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets.

(2) Included in Securities pledged on the Condensed Consolidated Balance Sheets.

(3) See Collateral within the Derivatives Note to these Condensed Consolidated Financial Statements for more information.

The following table presents collateral held by asset class that the Company pledged under securities lending as of the dates indicated:


	March 31, 2024		December 31, 2023
U.S. Treasuries	$	41	$	14

U.S. corporate public securities	613		568

Short-term investments	15		55

Foreign corporate public securities and foreign governments	273		238
Total(1)	$	942	$	875

(1) As of March 31, 2024 and December 31, 2023, liabilities to return cash collateral were $690 and $660, respectively, and included in Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets.

The Company's securities lending activities are conducted on an overnight basis, and all securities loaned can be recalled at any time. The Company does not offset assets and liabilities associated with its securities lending program.

Allowance for credit losses

The following tables presents a rollforward of the allowance for credit losses on available-for-sale fixed maturity securities for the periods presented:


	Three Months Ended March 31, 2024
	U.S. corporate public securities		Commercial mortgage-backed securities		Foreign corporate public securities and foreign governments		Foreign corporate private securities		Other asset-backed securities		Total
Balance as of January 1	$	—	$	9	$	3	$	2	$	3	$	17
Credit losses on securities for which credit losses were not previously recorded	—		5		—		—		1		6

Reductions for securities sold during the period	—		—		(1)		—		—		(1)


Increase (decrease) on securities with allowance recorded in previous period	—		—		—		(1)		1		—


Balance as of March 31	$	—	$	14	$	2	$	1	$	5	$	22


	Year Ended December 31, 2023
	U.S. corporate public securities		Commercial mortgage-backed securities		Foreign corporate public securities and foreign governments		Foreign corporate private securities		Other asset-backed securities		Total
Balance as of January 1	$	—	$	—	$	9	$	2	$	1	$	12
Credit losses on securities for which credit losses were not previously recorded	—		9		—		—		2		11

Reductions for securities sold during the period	—		—		(5)		—		—		(5)


Increase (decrease) on securities with allowance recorded in previous period	—		—		(1)		—		—		(1)


Balance as of December 31	$	—	$	9	$	3	$	2	$	3	$	17

For additional information about the Company’s methodology and significant inputs used in determining whether a credit loss exists, see the Business, Basis of Presentation and Significant Accounting Policies Note to the Consolidated Financial Statements in Part II, Item 8. of the Annual Report on Form 10-K.

Unrealized Capital Losses

The following tables present available-for-sale fixed maturities, including securities pledged, for which an allowance for credit losses has not been recorded by investment category and duration as of the dates indicated:


	As of March 31, 2024
	Twelve Months or Less Below Amortized Cost				More Than Twelve Months Below Amortized Cost	Total
	Fair Value		Unrealized Capital Losses			Fair Value		Unrealized Capital Losses		Fair Value		Unrealized Capital Losses
U.S. Treasuries	$	120	$	4		$	115	$	22	$	235	$	26
U.S. Government agencies and authorities	14		—			3		1		17		1
State, municipalities and political subdivisions	17		—			651		104		668		104
U.S. corporate public securities	347		23			4,875		951		5,222		974
U.S. corporate private securities	451		12			3,229		351		3,680		363
Foreign corporate public securities and foreign governments	144		2			1,613		271		1,757		273
Foreign corporate private securities	277		4			2,086		148		2,363		152
Residential mortgage-backed	189		4			1,321		272		1,510		276
Commercial mortgage-backed	21		1			3,242		583		3,263		584
Other asset-backed	82		1			460		53		542		54
Total	$	1,662	$	51		$	17,595	$	2,756	$	19,257	$	2,807


	As of December 31, 2023
	Twelve Months or Less Below Amortized Cost				More Than Twelve Months Below Amortized Cost	Total
	Fair Value		Unrealized Capital Losses			Fair Value		Unrealized Capital Losses		Fair Value		Unrealized Capital Losses
U.S. Treasuries	$	99	$	3		$	109	$	18	$	208	$	21
U.S. Government agencies and authorities	—		—			3		1		3		1
State, municipalities and political subdivisions	20		—			731		101		751		101
U.S. corporate public securities	321		17			5,101		887		5,422		904
U.S. corporate private securities	176		7			3,365		317		3,541		324
Foreign corporate public securities and foreign governments	82		2			1,749		268		1,831		270
Foreign corporate private securities	189		5			2,101		124		2,290		129
Residential mortgage-backed	114		3			1,354		254		1,468		257
Commercial mortgage-backed	84		2			3,269		642		3,353		644
Other asset-backed	136		3			1,156		68		1,292		71
Total	$	1,221	$	42		$	18,938	$	2,680	$	20,159	$	2,722

As of March 31, 2024, the average duration of our fixed maturities portfolio, including securities pledged, is between 6.5 and 7 years.

As of March 31, 2024 and December 31, 2023, the Company concluded that an allowance for credit losses was not warranted for the securities above because the unrealized losses are interest rate related. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases.

Evaluating Securities for Impairments

The Company performs a regular evaluation, on a security-by-security basis, of its available-for-sale securities holdings, including fixed maturity securities, in accordance with its impairment policy in order to evaluate whether such investments are impaired.

There were no intent impairments for the three months ended March 31, 2024 and 2023.

The Company may sell securities during the period in which fair value has declined below amortized cost for fixed maturities. In certain situations, new factors, including changes in the business environment, can change the Company’s previous intent to continue holding a security. Accordingly, these factors may lead the Company to record additional intent related capital losses.

Debt Restructuring

Upon the adoption of ASU 2022-02 as of January 1, 2023, the Company no longer identifies certain debt modifications as troubled debt restructuring, but instead evaluates all debt modifications to determine whether a modification results in a new loan or a continuation of an existing loan. Disclosures are required for loan modifications with borrowers experiencing financial difficulty. For the three months ended March 31, 2024 and 2023, the Company had no material debt modifications that require such disclosure.

Mortgage Loans on Real Estate

The Company diversifies its commercial mortgage loan portfolio by geographic region and property type to reduce concentration risk. The Company manages risk when originating commercial mortgage loans by generally lending only up to 75% of the estimated fair value of the underlying real estate. Subsequently, the Company continuously evaluates mortgage loans based on relevant current information including a review of loan-specific performance, property characteristics and market trends. Loan performance is monitored on a loan specific basis through the review of submitted appraisals, operating statements, rent revenues and annual inspection reports, among other items. This review ensures properties are performing at a consistent and acceptable level to secure the debt. The components to evaluate debt service coverage are received and reviewed at least annually to determine the level of risk.

Loan-to-value ("LTV") and debt service coverage ("DSC") ratios are measures commonly used to assess the risk and quality of mortgage loans. These ratios are utilized as part of the review process described above.

The following tables present commercial mortgage loans by year of origination and LTV ratio as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Loan-to-Value Ratios
Year of Origination	0% - 50%		>50% - 60%		>60% - 70%		>70% - 80%		>80% and above		Total
2024	$	69	$	33	$	—	$	—	$	—	$	102
2023	118		257		—		—		—		375
2022	252		324		73		—		—		649
2021	244		203		203		—		—		650
2020	177		98		—		—		16		291
Prior	2,726		288		18		—		19		3,051
Total	$	3,586	$	1,203	$	294	$	—	$	35	$	5,118


	As of December 31, 2023
	Loan-to-Value Ratios
Year of Origination	0% - 50%		>50% - 60%		>60% -70%		>70% - 80%		>80% and above		Total
2023	$	150	$	222	$	—	$	—	$	—	$	372
2022	252		326		73		—		—		651
2021	244		214		209		—		—		667
2020	168		112		—		10		16		306
2019	238		68		28		—		—		334
Prior	2,586		280		4		—		18		2,888
Total	$	3,638	$	1,222	$	314	$	10	$	34	$	5,218

The following tables present commercial mortgage loans by year of origination and DSC ratio as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Debt Service Coverage Ratios
Year of Origination	>1.5x		>1.25x - 1.5x		>1.0x - 1.25x		<1.0x		Total*
2024	$	21	$	34	$	44	$	3	$	102
2023	157		151		67		—		375
2022	203		57		186		203		649
2021	259		14		56		321		650
2020	209		23		21		38		291
Prior	2,277		270		328		176		3,051
Total	$	3,126	$	549	$	702	$	741	$	5,118
*No commercial mortgage loans were secured by land or construction loans


	As of December 31, 2023
	Debt Service Coverage Ratios
Year of Origination	>1.5x		>1.25x - 1.5x		>1.0x - 1.25x		<1.0x		Total*
2023	$	189	$	116	$	67	$	—	$	372
2022	204		68		192		187		651
2021	260		14		64		329		667
2020	211		24		21		50		306
2019	203		26		84		21		334
Prior	2,216		264		255		153		2,888
Total	$	3,283	$	512	$	683	$	740	$	5,218

*No commercial mortgage loans were secured by land or construction loans

The following tables present the commercial mortgage loans by year of origination and U.S. region as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	U.S. Region
Year of Origination	Pacific		South Atlantic		Middle Atlantic		West South Central		Mountain		East North Central		New England		West North Central		East South Central		Total
2024	$	4	$	43	$	22	$	13	$	12	$	—	$	6	$	2	$	—	$	102
2023	69		80		12		101		39		41		3		27		3		375
2022	140		132		47		98		113		93		5		1		20		649
2021	96		63		121		148		98		73		10		40		1		650
2020	63		152		17		10		12		15		—		7		15		291
Prior	761		680		716		219		257		164		59		155		40		3,051
Total	$	1,133	$	1,150	$	935	$	589	$	531	$	386	$	83	$	232	$	79	$	5,118


	As of December 31, 2023
	U.S. Region
Year of Origination	Pacific		South Atlantic		Middle Atlantic		West South Central		Mountain		East North Central		New England		West North Central		East South Central		Total
2023	$	69	$	77	$	12	$	101	$	39	$	42	$	3	$	26	$	3	$	372
2022	140		132		47		100		113		93		5		1		20		651
2021	96		63		124		148		111		75		9		40		1		667
2020	63		155		17		10		12		26		—		7		16		306
2019	53		100		10		74		45		4		14		13		21		334
Prior	734		605		765		189		214		171		47		144		19		2,888
Total	$	1,155	$	1,132	$	975	$	622	$	534	$	411	$	78	$	231	$	80	$	5,218

The following tables present the commercial mortgage loans by year of origination and property type as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Property Type
Year of Origination	Retail		Industrial		Apartments		Office		Hotel/Motel		Other		Mixed Use		Total
2024	$	19	$	71	$	12	$	—	$	—	$	—	$	—	$	102
2023	125		167		33		18		32		—		—		375
2022	79		262		254		34		10		10		—		649
2021	36		141		335		111		—		18		9		650
2020	56		49		72		114		—		—		—		291
Prior	712		816		750		493		70		161		49		3,051
Total	$	1,027	$	1,506	$	1,456	$	770	$	112	$	189	$	58	$	5,118


	As of December 31, 2023
	Property Type
Year of Origination	Retail		Industrial		Apartments		Office		Hotel/Motel		Other		Mixed Use		Total
2023	$	125	$	164	$	33	$	18	$	32	$	—	$	—	$	372
2022	79		263		255		34		10		10		—		651
2021	36		145		335		123		—		18		10		667
2020	57		49		72		128		—		—		—		306
2019	45		82		160		36		11		—		—		334
Prior	780		755		618		463		60		163		49		2,888
Total	$	1,122	$	1,458	$	1,473	$	802	$	113	$	191	$	59	$	5,218

The following table summarizes the activity in the allowance for losses for commercial mortgage loans for the periods indicated:


	March 31, 2024		December 31, 2023
Allowance for credit losses, beginning of period	$	26	$	18
Credit losses on mortgage loans for which credit losses were not previously recorded	—		2

Increase (decrease) on mortgage loans with an allowance recorded in a previous period	—		9
Provision for expected credit losses	26		29
Write-offs	—		(3)
Recoveries of amounts previously written-off	—		—
Allowance for credit losses, end of period	$	26	$	26

The following table presents past due commercial mortgage loans as of the dates indicated:


	March 31, 2024		December 31, 2023
Delinquency:
Current	$	5,083	$	5,202
30-59 days past due	19		—
60-89 days past due	—		—
Greater than 90 days past due	16		16
Total	$	5,118	$	5,218

Commercial mortgage loans are placed on non-accrual status when 90 days in arrears if the Company has concerns regarding the collectability of future payments, or if a loan has matured without being paid off or extended. As of March 31, 2024 and December 31, 2023, the Company had $35 and $16, respectively, of commercial mortgage loans in non-accrual status with an LTV ratio of 100%. The amount of interest income recognized on loans in non-accrual status for the three months ended March 31, 2024 and the year ended December 31, 2023 was immaterial.

Net Investment Income

The following table summarizes Net investment income by investment type for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Fixed maturities		$	416	$	458
Equity securities		5		7
Mortgage loans on real estate		61		61
Policy loans		6		6
Short-term investments and cash equivalents		10		9
Limited partnerships and other		48		22
Gross investment income		546		563
Less: Investment expenses		17		18
Net investment income		$	529	$	545

As of March 31, 2024 and December 31, 2023, the Company had $11 and $10, respectively, of investments in fixed maturities that did not produce net investment income. Fixed maturities are moved to a non-accrual status when the investment defaults.

Net Gains (Losses)

Net gains (losses) were as follows for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Fixed maturities, available-for-sale, including securities pledged		$	(20)	$	1
Fixed maturities, at fair value option		(81)		36

Equity securities, at fair value		3		(2)
Derivatives		136		(54)
Embedded derivatives - fixed maturities		(1)		1
Other derivatives		1		—
Standalone derivatives		1		—
Managed custody guarantees		1		3

Mortgage loans		1		—
Other investments		2		(1)
Net gains (losses)		$	43	$	(16)

Proceeds from the sale of fixed maturities, available-for-sale and equity securities and the related gross realized gains and losses, before tax, were as follows for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Proceeds on sales		$	829	$	1,306
Gross gains		11		20
Gross losses		27		25

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company primarily enters into the following types of derivatives:

Interest rate swaps: Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and/or liabilities. Interest rate swaps are also used to hedge the interest rate risk associated with the value of assets it owns or in an anticipation of acquiring them. Using interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest payments, calculated by reference to an agreed upon notional principal amount. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made to/from the counterparty at each due date. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships.

Foreign exchange swaps: The Company uses foreign exchange or currency swaps to reduce the risk of change in the value, yield or cash flows associated with certain foreign denominated invested assets. Foreign exchange swaps represent contracts that require the exchange of foreign currency cash flows against U.S. dollar cash flows at regular periods, typically quarterly or semi-annually. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships.

Total return swaps: The Company uses total return swaps as a hedge of interest related risks within various Legacy Annuity and Retirement products. Total return swaps are also used as a hedge of other corporate liabilities. Using total return swaps, the Company agrees with another party to exchange, at specified intervals, the difference between the economic performance of assets or a market index and a fixed or variable funding multiplied by reference to an agreed upon notional amount. No cash is exchanged at the onset of the contracts. Cash is paid and received over the life of the contract based upon the terms of the swaps. The Company utilizes these contracts in non-qualifying hedging relationships.

Futures: Futures contracts are used to hedge against a decrease in certain equity indices. The Company also uses interest rate futures contracts to hedge its exposure to market risks due to changes in interest rates. The Company enters into exchange traded futures with regulated futures commissions that are members of the exchange. The Company also posts initial and variation margins, with the exchange, on a daily basis. The Company utilizes exchange-traded futures in non-qualifying hedging relationships.

Embedded derivatives: The Company also invests in certain fixed maturity instruments and has issued certain products that contain embedded derivatives for which market value is at least partially determined by, among other things, levels of or changes in domestic and/or foreign interest rates (short-term or long-term), exchange rates, prepayment rates, equity rates or credit ratings/spreads. In addition, the Company has entered into coinsurance with funds withheld arrangements, which contain embedded derivatives.

The Company utilizes derivative contracts mainly to hedge exposure to variability in cash flows, interest rate risk, credit risk, foreign exchange risk and equity market risk. The majority of derivatives used by the Company are designated as product hedges, which hedge the exposure arising from insurance liabilities or guarantees embedded in the contracts the Company offers through various product lines. The Company also uses derivatives contracts to hedge its exposure to various risks associated with the investment portfolio. The Company also uses credit default swaps coupled with other investments in order to produce the investment characteristics of otherwise permissible investments. Based on the notional amounts, a substantial portion of the Company’s derivative positions was not designated or did not qualify for hedge accounting as part of a hedging relationship as outlined in ASC Topic 815 as of March 31, 2024 and December 31, 2023.

The notional amounts and fair values of derivatives were as follows as of the dates indicated:


	March 31, 2024						December 31, 2023
	Notional Amount		Asset Fair Value		Liability Fair Value		Notional Amount		Asset Fair Value		Liability Fair Value
Derivatives: Qualifying for hedge accounting(1)
Fair value hedges:
Foreign exchange contracts	$	100	$	1	$	—	$	98	$	—	$	4

Cash flow hedges:
Interest rate contracts	12		—		—		12		—		—
Foreign exchange contracts	718		38		5		718		33		7
Derivatives: Non-qualifying for hedge accounting(1)
Interest rate contracts	17,133		330		318		16,773		270		354
Foreign exchange contracts	160		1		1		183		4		2
Equity contracts	285		8		3		255		4		2
Credit contracts	177		—		5		137		—		2
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments(2)	N/A		1		—		N/A		2		—

Within reinsurance agreements(4)	N/A		59		47		N/A		61		49
Managed custody guarantees(3)	N/A		—		7		N/A		—		8
Stabilizers(3)	N/A		—		1		N/A		—		1
Total			$	438	$	387			$	374	$	429

(1) Open derivative contracts are reported as Derivatives assets or liabilities at fair value on the Condensed Consolidated Balance Sheets.

(2) Included in Fixed maturities, available-for-sale, at fair value on the Condensed Consolidated Balance Sheets.

(3) Included in Contract owner account balances on the Condensed Consolidated Balance Sheets.

(4) Included in Other liabilities, Other assets and Premium receivable and reinsurance recoverable on the Condensed Consolidated Balance Sheets.

N/A - Not applicable

The Company does not offset any derivative assets and liabilities in the Condensed Consolidated Balance Sheets. The disclosures set out in the table below include the fair values of Over-The-Counter (“OTC”) and cleared derivatives excluding exchange traded contracts subject to master netting agreements or similar agreements as of the dates indicated:


	Gross Amount Recognized(1)		Counterparty Netting(2)		Cash Collateral Netting(2)		Securities Collateral Netting(2)		Net receivables/ payables
March 31, 2024
Derivative assets	$	378	$	(273)	$	(96)	$	(5)	$	4
Derivative liabilities	332		(273)		(56)		(2)		1

December 31, 2023
Derivative assets	311		(216)		(76)		(8)		11
Derivative liabilities	370		(216)		(150)		(3)		1

(1) As of March 31, 2024, gross amounts exclude asset and liability exchange traded contracts of $0 and $0, respectively. As of December 31, 2023, gross amounts exclude asset and liability exchange traded contracts of $0 and $1, respectively.

(2) Represents the netting of receivable with payable balances, net of collateral, for the same counterparty under eligible netting agreements.

Collateral

Under the terms of the OTC Derivative International Swaps and Derivatives Association, Inc. ("ISDA") agreements, the Company may receive from, or deliver to, counterparties collateral to assure that terms of the ISDA agreements will be met with regard to the Credit Support Annex ("CSA"). The terms of the CSA call for the Company to pay interest on any cash received equal to the Federal Funds rate. To the extent cash collateral is received and delivered, it is included in Payables under securities loan and repurchase agreements, including collateral held and Short-term investments under securities loan agreements, including collateral delivered, respectively, on the Condensed Consolidated Balance Sheets and is reinvested in short-term investments. Collateral held is used in accordance with the CSA to satisfy any obligations. Investment grade bonds owned by the Company are the source of noncash collateral posted, which is reported in Securities pledged on the Condensed Consolidated Balance Sheets.

As of March 31, 2024, the Company held $99 and pledged $57 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. As of December 31, 2023, the Company held $84 and pledged $147 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. In addition, as of March 31, 2024, the Company delivered $201 of securities and held $4 of securities as collateral. As of December 31, 2023, the Company delivered $201 of securities and held $11 of securities as collateral.

The location and effect of derivatives qualifying for hedge accounting on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income are as follows for the periods indicated:


	2024				2023
	Interest Rate Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Foreign Exchange Contracts
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Net investment income		Net investment income and Net gains/(losses)		Net investment income		Net investment income and Net gains/(losses)
Three Months Ended March 31,
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$	—	$	8	$	—	$	(12)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	—		3		—		3

The location and amount of gain (loss) recognized in the Condensed Consolidated Statements of Operations for derivatives qualifying for hedge accounting are as follows for the periods indicated:


	2024				2023
	Net investment income		Net gains/ (losses)		Net investment income		Net gains/ (losses)










Three Months Ended March 31,
Total amounts of line items presented in the statements of operations in which the effects of fair value or cash flow hedges are recorded	$	529	$	43	$	545	$	(16)
Fair value hedges:
Foreign exchange contracts:
Hedged items	—		(2)		—		2
Derivatives designated as hedging instruments(1)	—		3		—		(1)
Cash flow hedges:


Foreign exchange contracts:
Gain (loss) reclassified from accumulated other comprehensive income into income	3		—		3		—

(1) For the three months ended March 31, 2024 and 2023, $1 of the change in derivative instruments designated and qualifying as fair value hedges was excluded from the assessment of hedge effectiveness and recognized currently in earning.

The location and effect of derivatives not designated as hedging instruments on the Condensed Consolidated Statements of Operations are as follows for the periods indicated:


	Location of Gain (Loss) Recognized on Derivative	Three Months Ended March 31,
		2024		2023
Derivatives: Non-qualifying for hedge accounting
Interest rate contracts	Net gains (losses)	$	126	$	(56)
Foreign exchange contracts	Net gains (losses)	(2)		1
Equity contracts	Net gains (losses)	10		3
Credit contracts	Net gains (losses)	(1)		(1)
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments	Net gains (losses)	(1)		1
Within reinsurance agreements(1)	Policyholder benefits	—		(26)
Managed custody guarantees	Net gains (losses)	1		3

Total		$	133	$	(75)

(1) For the three months ended March 31, 2024, the amount excluded gains (losses) of $1 from standalone derivatives recognized in Net gains (losses). For the three months ended March 31, 2023, the amount excluded immaterial gains (losses) from standalone derivatives recognized in Net gains (losses).

Fair Value Measurements (excluding Consolidated Investment Entities)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements (excluding Consolidated Investment Entities)

Fair Value Measurement

The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of March 31, 2024:


	Level 1		Level 2			Level 3			Total
Assets:
Fixed maturities, including securities pledged:
U.S. Treasuries	$	302	$	99		$	—		$	401
U.S. Government agencies and authorities	—		54			1			55
State, municipalities and political subdivisions	—		681			—			681
U.S. corporate public securities	—		7,321			18			7,339
U.S. corporate private securities	—		3,265			1,455			4,720
Foreign corporate public securities and foreign governments(1)	—		2,563			—			2,563
Foreign corporate private securities(1)	—		2,264			448			2,712
Residential mortgage-backed securities	—		3,286			52			3,338
Commercial mortgage-backed securities	—		3,465			—			3,465
Other asset-backed securities	—		2,372			55			2,427
Total fixed maturities, including securities pledged	302		25,370			2,029			27,701

Equity securities	120		—			99			219
Derivatives:
Interest rate contracts	1		329			—			330
Foreign exchange contracts	—		40			—			40
Equity contracts	—		8			—			8

Embedded derivative on reinsurance	—		59			—			59
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,169		16			—			2,185
Assets held in separate accounts	92,585		5,691			360			98,636
Total assets	$	95,177	$	31,513		$	2,488		$	129,178
Liabilities:
Contingent consideration	$	—	$	—		$	48		$	48
Stabilizer and MCGs	—		—			8			8
Derivatives:
Interest rate contracts	1		317			—			318
Foreign exchange contracts	—		6			—			6
Equity contracts	—		3			—			3
Credit contracts	—		5			—			5
Embedded derivative on reinsurance	—		(10)		(2)	57		(3)	47
Total liabilities	$	1	$	321		$	113		$	435

(1) Primarily U.S. dollar denominated.

(2) The Company classifies the embedded derivative within liabilities given the underlying nature of the balance and the right-of-offset.

(3) Represents the standalone derivative.

The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2023:


	Level 1		Level 2			Level 3			Total
Assets:
Fixed maturities, including securities pledged:
U.S. Treasuries	$	346	$	57		$	—		$	403
U.S. Government agencies and authorities	—		55			1			56
State, municipalities and political subdivisions	—		771			—			771
U.S. corporate public securities	—		7,648			18			7,666
U.S. corporate private securities	—		3,234			1,526			4,760
Foreign corporate public securities and foreign governments(1)	—		2,702			—			2,702
Foreign corporate private securities(1)	—		2,376			436			2,812
Residential mortgage-backed securities	—		3,419			57			3,476
Commercial mortgage-backed securities	—		3,495			—			3,495
Other asset-backed securities	—		2,418			52			2,470
Total fixed maturities, including securities pledged	346		26,175			2,090			28,611
Equity securities	140		—			96			236
Derivatives:
Interest rate contracts	7		263			—			270
Foreign exchange contracts	—		37			—			37
Equity contracts	—		4			—			4

Embedded derivative on reinsurance	—		61			—			61
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,148		17			—			2,165
Assets held in separate accounts	87,180		5,605			348			93,133
Total assets	$	89,821	$	32,162		$	2,534		$	124,517
Liabilities:
Contingent consideration	$	—	$	—		$	51		$	51
Stabilizer and MCGs	—		—			9			9
Derivatives:
Interest rate contracts	—		354			—			354
Foreign exchange contracts	—		13			—			13
Equity contracts	—		2			—			2
Credit contracts	—		2			—			2
Embedded derivative on reinsurance	—		(9)		(2)	58		(3)	49
Total liabilities	$	—	$	362		$	118		$	480

(1) Primarily U.S. dollar denominated.

(2) The Company classifies the embedded derivative within liabilities given the underlying nature of the balance and the right-of-offset.

(3) Represents the standalone derivative.

Valuation of Financial Assets and Liabilities at Fair Value

Certain assets and liabilities are measured at estimated fair value on the Company's Condensed Consolidated Balance Sheets. The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The exit price and the transaction (or entry) price will be the same at initial recognition in many

circumstances. However, in certain cases, the transaction price may not represent fair value. The fair value of a liability is based on the amount that would be paid to transfer a liability to a third-party with an equal credit standing. Fair value is required to be a market-based measurement that is determined based on a hypothetical transaction at the measurement date, from a market participant’s perspective. The Company considers three broad valuation approaches when a quoted price is unavailable: (i) the market approach, (ii) the income approach and (iii) the cost approach. The Company determines the most appropriate valuation technique to use, given the instrument being measured and the availability of sufficient inputs. The Company prioritizes the inputs to fair valuation approaches and allows for the use of unobservable inputs to the extent that observable inputs are not available.

The Company utilizes a number of valuation methodologies to determine the fair values of its financial assets and liabilities in conformity with the concepts of exit price and the fair value hierarchy as prescribed in ASC Topic 820. Valuations are obtained from third-party commercial pricing services, brokers and industry-standard, vendor-provided software that models the value based on market observable inputs. The valuations obtained from third-party commercial pricing services are non-binding. The Company reviews the assumptions and inputs used by third-party commercial pricing services for each reporting period in order to determine an appropriate fair value hierarchy level. The documentation and analysis obtained from third-party commercial pricing services are reviewed by the Company, including in-depth validation procedures confirming the observability of inputs. The valuations are reviewed and validated monthly through the internal valuation committee price variance review, comparisons to internal pricing models, back testing to recent trades or monitoring of trading volumes.

When available, the fair value of the Company's financial assets and liabilities are based on quoted prices of identical assets in active markets and therefore, reflected in Level 1. The valuation approaches and key inputs for each category of assets or liabilities that are classified within Level 2 and Level 3 of the fair value hierarchy are presented below.

For fixed maturities classified as Level 2 assets, fair values are determined using a matrix-based market approach, based on prices obtained from third-party commercial pricing services and the Company’s matrix and analytics-based pricing models, which in each case incorporate a variety of market observable information as valuation inputs. The market observable inputs used for these fair value measurements, by fixed maturity asset class, are as follows:

U.S. Treasuries: Fair value is determined using third-party commercial pricing services, with the primary inputs being stripped interest and principal U.S. Treasury yield curves that represent a U.S. Treasury zero-coupon curve.

U.S. government agencies and authorities, State, municipalities and political subdivisions: Fair value is determined using third-party commercial pricing services, with the primary inputs being U.S. Treasury yield curves, trades of comparable securities, credit spreads off benchmark yields and issuer ratings.

U.S. corporate public securities, Foreign corporate public securities and foreign governments: Fair value is determined using third-party commercial pricing services, with the primary inputs being benchmark yields, trades of comparable securities, issuer ratings, bids and credit spreads off benchmark yields.

U.S. corporate private securities and Foreign corporate private securities: Fair values are determined using a matrix and analytics-based pricing model. The model incorporates the current level of risk-free interest rates, current corporate credit spreads, credit quality of the issuer and cash flow characteristics of the security. The model also considers a liquidity spread, the value of any collateral, the capital structure of the issuer, the presence of guarantees, and prices and quotes for comparably rated publicly traded securities.

RMBS, CMBS and ABS: Fair value is determined using third-party commercial pricing services, with the primary inputs being credit spreads off benchmark yields, prepayment speed assumptions, current and forecasted loss severity, debt service coverage ratios, collateral type, payment priority within tranche and the vintage of the loans underlying the security.

Generally, the Company does not obtain more than one vendor price from pricing services per instrument. The Company uses a hierarchy process in which prices are obtained from a primary vendor and, if that vendor is unable to provide the price, the next vendor in the hierarchy is contacted until a price is obtained or it is determined that a price cannot be obtained from a commercial pricing service. When a price cannot be obtained from a commercial pricing service, independent broker quotes are solicited. Securities priced using independent broker quotes are classified as Level 3.

Fair values of privately placed bonds are determined primarily using a matrix-based pricing model and are generally classified as Level 2 assets. The model considers the current level of risk-free interest rates, current corporate spreads, the credit quality of the issuer and cash flow characteristics of the security. Also considered are factors such as the net worth of the borrower, the value of collateral, the capital structure of the borrower, the presence of guarantees and the Company’s evaluation of the borrower’s ability to compete in its relevant market. Using this data, the model generates estimated market values, which the Company considers reflective of the fair value of each privately placed bond.

Equity securities: Level 2 and Level 3 equity securities, typically private equities or equity securities not traded on an exchange, are valued by other sources such as analytics or brokers.

Derivatives: Derivatives are carried at fair value, which is determined using the Company’s derivative accounting system in conjunction with observable key financial data from third-party sources, such as yield curves, exchange rates, S&P 500 Index prices, Overnight Index Swap ("OIS") rates, and Secured Overnight Financing Rate ("SOFR"). The Company uses SOFR discounting for valuations of interest rate derivatives; however, certain legacy positions may continue to be discounted on OIS. The Company uses OIS for valuations of collateralized interest rate derivatives, which are obtained from third-party sources. For those derivatives that are unable to be valued by the accounting system, the Company typically utilizes values established by third-party brokers. Counterparty credit risk is considered and incorporated in the Company’s valuation process through counterparty credit rating requirements and monitoring of overall exposure. It is the Company’s policy to transact only with investment grade counterparties with a credit rating of A- or better. The Company’s nonperformance risk is also considered and incorporated in the Company’s valuation process. The Company also has certain credit default swaps and options that are priced by third party vendors or by using models that primarily use market observable inputs, but contain inputs that are not observable to market participants, which have been classified as Level 3. The remaining derivative instruments are valued based on market observable inputs and are classified as Level 2.

Contingent consideration: The fair value of the contingent consideration liability associated with the Company’s acquisitions uses unobservable inputs and as such are reported as Level 3. Unobservable inputs include projected revenues, duration of earnouts and other metrics as well as discount rate. Changes in the fair value of the contingent consideration are recorded in Operating expenses in the Company’s Condensed Consolidated Statements of Operations.

Stabilizer and MCGs: The Company records reserves for Stabilizer and MCG contracts containing guaranteed credited rates. The guarantee is treated as an embedded derivative or a stand-alone derivative (depending on the underlying product) and is required to be reported at fair value. The estimated fair value is determined based on the present value of projected future claims, minus the present value of future guaranteed premiums. At inception of the contract, the Company projects a guaranteed premium to be equal to the present value of the projected future claims. The income associated with the contracts is projected using relevant actuarial and capital market assumptions, including benefits and related contract charges, over the anticipated life of the related contracts. The cash flow estimates are projected under multiple capital market scenarios using observable risk-free rates and other best estimate assumptions. These derivatives are classified as Level 3 liabilities.

The discount rate used to determine the fair value of the Company's Stabilizer embedded derivative liabilities and MCG stand-alone derivative includes an adjustment to reflect the risk that these obligations will not be fulfilled ("nonperformance risk"). The nonperformance risk adjustment incorporates a blend of observable, similarly rated peer holding company credit spreads, adjusted to reflect the credit quality of the individual insurance subsidiary that issued the guarantee, as well as an adjustment to reflect the non-default spreads and the priority and recovery rates of policyholder claims.

Embedded derivatives on reinsurance: The carrying value of embedded derivatives is estimated based upon the change in the fair value of the assets supporting the funds withheld payable under reinsurance agreements. The fair value of the embedded derivative is based on market observable inputs and is classified as Level 2. The remaining derivative instruments are classified as Level 3 and are estimated using the income approach. The fair value is calculated by estimating future cash flows for a certain discrete projection period, estimating the terminal value, if appropriate, and discounting these amounts to present value at a rate of return that considers the relative risk of the cash flows and the time value of money.

Level 3 Financial Instruments

The fair values of certain assets and liabilities are determined using prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (i.e., Level 3 as defined by ASC Topic 820), including but not limited to liquidity spreads for investments within markets deemed not currently active. These valuations, whether derived internally or obtained from a third-party, use critical assumptions that are not widely available to estimate market participant expectations in valuing the asset or liability. In addition, the Company has determined, for certain financial instruments, an active market is such a significant input to determine fair value that the presence of an inactive market may lead to classification in Level 3. In light of the methodologies employed to obtain the fair values of financial assets and liabilities classified as Level 3, additional information is presented below.

Significant Unobservable Inputs

The Company's Level 3 fair value measurements of its fixed maturities, equity securities and equity and credit derivative contracts are primarily based on broker quotes for which the quantitative detail of the unobservable inputs is neither provided nor reasonably corroborated, thus negating the ability to perform a sensitivity analysis. The Company performs a review of broker quotes by performing a monthly price variance comparison and back tests broker quotes to recent trade prices.

The following tables summarize the change in fair value of the Company's Level 3 assets and liabilities and transfers in and out of Level 3 for the periods indicated:


	Three Months Ended March 31, 2024
	Fair Value as of January 1		Realized/Unrealized Gains (Losses) Included in:				Purchases		Issuances		Sales		Settlements		Transfers into Level 3		Transfers out of Level 3		Fair Value as of March 31		Change In Unrealized Gains (Losses) Included in Earnings(3)		Change In Unrealized Gains (Losses) Included in OCI(3)
			Net Income		OCI
Fixed maturities, including securities pledged:
U.S. Government agencies and authorities	$	1	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	—
U.S. corporate public securities	18		—		—		—		—		—		—		—		—		18		—		—
U.S. corporate private securities	1,526		—		(15)		67		—		(9)		(79)		—		(35)		1,455		—		(19)

Foreign corporate private securities(1)	436		—		(4)		—		—		—		(35)		51		—		448		—		(4)
Residential mortgage-backed securities	57		(1)		—		—		—		—		—		—		(4)		52		(1)		—

Other asset-backed securities	52		—		—		5		—		—		(2)		—		—		55		—		—
Total fixed maturities, including securities pledged	2,090		(1)		(19)		72		—		(9)		(116)		51		(39)		2,029		(1)		(23)

Equity securities, at fair value	96		3		—		—		—		—		—		—		—		99		2		—
Contingent consideration	(51)		1		—		—		—		—		2		—		—		(48)		—		—

Stabilizer and MCGs(2)	(9)		2		—		—		(1)		—		—		—		—		(8)		—		—

Embedded derivatives on reinsurance	(58)		1		—		—		—		—		—		—		—		(57)		—		—

Assets held in separate accounts(4)	348		—		—		16		—		(3)		—		5		(6)		360		—		—

(1) Primarily U.S. dollar denominated.

(2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract by contract basis. These amounts are included in Net gains (losses) in the Condensed Consolidated Statements of Operations.

(3) For financial instruments still held as of March 31 amounts are included in Net investment income and Net gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income.

(4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company.



	Three Months Ended March 31, 2023
	Fair Value as of January 1		Realized/Unrealized Gains (Losses) Included in:				Purchases		Issuances		Sales		Settlements		Transfers into Level 3		Transfers out of Level 3		Fair Value as of March 31		Change In Unrealized Gains (Losses) Included in Earnings(3)		Change In Unrealized Gains (Losses) Included in OCI(3)
			Net Income		OCI
Fixed maturities, including securities pledged:
U.S. Government agencies and authorities	$	1	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	—
U.S. corporate public securities	$	20	$	—	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	21	$	—	$	—
U.S. corporate private securities	1,801		1		34		40		—		—		(76)		—		—		1,800		1		34
Foreign corporate public securities and foreign governments(1)	3		—		—		—		—		—		—		—		(3)		—		—		—
Foreign corporate private securities(1)	432		1		4		57		—		—		(53)		—		—		441		1		4
Residential mortgage-backed securities	28		—		—		28		—		—		—		—		—		56		—		—

Other asset-backed securities	64		—		1		34		—		—		(1)		—		(21)		77		—		1
Total fixed maturities, including securities pledged	2,349		2		39		160		—		—		(130)		—		(24)		2,396		2		39

Equity securities, at fair value	196		(4)		—		—		—		—		—		—		—		192		(3)		—
Contingent consideration	(112)		—		—		—		—		—		—		—		—		(112)		—		—

Stabilizer and MCGs(2)	(6)		4		—		—		(1)		—		—		—		—		(3)		—		—

Embedded derivatives on reinsurance	(58)		—		—		—		—		—		—		—		—		(58)		—		—

Assets held in separate accounts(4)	347		4		—		—		—		(2)		—		—		—		349		—		—

(1) Primarily U.S. dollar denominated.

(2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract by contract basis. These amounts are included in Net gains (losses) in the Condensed Consolidated Statements of Operations.

(3) For financial instruments still held as of March 31 amounts are included in Net investment income and Net gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income.

(4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company.

For the three months ended March 31, 2024 and 2023, the transfers in and out of Level 3 for fixed maturities were due to the variation in inputs relied upon for valuation each quarter. Securities that are primarily valued using independent broker quotes when prices are not available from one of the commercial pricing services are reflected as transfers into Level 3. When securities are valued using more widely available information, the securities are transferred out of Level 3 and into Level 1 or 2, as appropriate.

Other Financial Instruments

The following disclosures are made in accordance with the requirements of ASC Topic 825 which requires disclosure of fair value information about financial instruments, whether or not recognized at fair value on the Condensed Consolidated Balance Sheets. ASC Topic 825 excludes certain financial instruments, including insurance contracts and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company.

The carrying values and estimated fair values of the Company's financial instruments as of the dates indicated:


	March 31, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturities, including securities pledged	$	27,701	$	27,701	$	28,611	$	28,611
Equity securities	219		219		236		236
Mortgage loans on real estate	5,118		4,831		5,218		4,941
Policy loans	349		349		352		352
Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185		2,185		2,165		2,165
Derivatives	378		378		311		311
Embedded derivatives on reinsurance	59		59		61		61
Other investments	64		64		64		64
Assets held in separate accounts	98,636		98,636		93,133		93,133
Liabilities:
Investment contract liabilities:
Funding agreements without fixed maturities and deferred annuities(1)	$	32,196	$	33,978	$	32,848	$	34,856
Funding agreements with fixed maturities	1,200		1,206		1,175		1,178
Supplementary contracts, immediate annuities and other	607		545		628		571

Stabilizer and MCGs	8		8		9		9
Derivatives	332		332		371		371
Embedded derivative on reinsurance	47		47		49		49
Short-term debt	393		387		1		1
Long-term debt	1,707		1,617		2,097		1,998

(1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Stabilizer and MCGs section of the table above.

The following table presents the classification of financial instruments which are not carried at fair value on the Condensed Consolidated Balance Sheets:


Financial Instrument			Classification
Mortgage loans on real estate			Level 3
Policy loans			Level 2


Other investments			Level 2
Funding agreements without fixed maturities and deferred annuities			Level 3
Funding agreements with fixed maturities			Level 2
Supplementary contracts and immediate annuities			Level 3
Short-term debt and Long-term debt			Level 2

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Topic 820
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Topic 820
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Deferred Policy Acquisition Costs and Value of Business Acquired

3 Months Ended

Mar. 31, 2024

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of deferred policy acquisition costs ("DAC") and value of business acquired ("VOBA") for the periods indicated:



	DAC						VOBA (1)
	Wealth Solutions Deferred and Individual Annuities		Health Solutions Group		Businesses exited
Balance as of January 1, 2023	$	691	$	144	$	1,043	$	439
Deferrals of commissions and expenses	59		49		—		4
Amortization expense	(55)		(29)		(105)		(37)
Balance as of December 31, 2023	$	695	$	164	$	938	$	406
Deferrals of commissions and expenses	16		12		—		1
Amortization expense	(14)		(8)		(26)		(9)
Balance as of March 31, 2024	$	697	$	168	$	912	$	398

(1)There was no loss recognition related to VOBA during the periods presented.

The following table shows a reconciliation of DAC and VOBA balances to the Condensed Consolidated Balance Sheets for the periods indicated:


	March 31, 2024		December 31, 2023
DAC:
Wealth Solutions Deferred and Individual Annuities	$	697	$	695
Health Solutions Group	168		164
Businesses exited	912		938
Other	47		47
VOBA	398		406
Total	$	2,222	$	2,250

Reserves for Future Policy Benefits and Contract Owner Account Balances

3 Months Ended

Mar. 31, 2024

Reserves for Future Policy Benefits and Contract Owner Balances [Abstract]

Reserves for Future Policy Benefits and Contract Owner Account Balances

Health Solutions Group products include long-duration supplemental term life, long-term disability business as well as critical illness and accident and hospital indemnity products. Health Solutions Voluntary products include long-duration whole life business. The following tables present the balances and changes in the liability for future policy benefits for Health Solutions Group, Health Solutions Voluntary and Businesses Exited as of March 31, 2024 and December 31, 2023.


	Health Solutions Group				Health Solutions Voluntary				Businesses Exited
	2024		2023		2024		2023		2024		2023
Present Value of Expected Net Premiums:
Balance at January 1	$	68	$	77	$	101	$	97	$	3,145	$	4,244
Beginning balance at original discount rate	71		84		102		100		2,992		4,128
Effect of change in cash flow assumptions	—		(6)		—		6		—		(921)
Effect of actual variances from expected experience	15		11		3		8		(93)		(91)
Adjusted balance at January 1	86		89		105		114		2,899		3,116
Interest accrual	1		2		1		4		41		196
Net premiums collected(1)	(5)		(20)		(4)		(16)		(79)		(320)
Ending balance at original discount rate	82		71		102		102		2,861		2,992
Effects of changes in discount rate assumptions	(5)		(3)		(3)		(1)		81		153
Balance at end of period	$	77	$	68	$	99	$	101	$	2,942	$	3,145


Present Value of Expected Future Policy Benefits:
Balance at January 1	$	899	$	881	$	307	$	285	$	7,538	$	8,639
Beginning balance at original discount rate	918		913		307		294		7,404		8,644
Effect of change in cash flow assumptions	17		(8)		1		13		—		(805)
Effect of actual variances from expected experience	8		(16)		4		9		(115)		(123)
Adjusted balance at January 1	943		889		312		316		7,289		7,716
Issuances	32		136		—		—		6		17
Interest accrual	6		24		4		14		95		412
Benefit payments	(36)		(131)		(8)		(23)		(173)		(741)
Ending balance at original discount rate	945		918		308		307		7,217		7,404
Effects of changes in discount rate assumptions	(29)		(19)		(10)		—		(19)		134
Balance at end of period	$	916	$	899	$	298	$	307	$	7,198	$	7,538


Net liability for future policy benefits	$	839	$	831	$	199	$	206	$	4,256	$	4,392
Less: Reinsurance recoverable	320		315		—		—		4,208		4,342
Net liability for future policy benefits, after reinsurance recoverable	$	519	$	516	$	199	$	206	$	48	$	50

(1) Net Premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit payments.

The reconciliation of the net liability for future policy benefits to the liability for future policy benefits in the Condensed Consolidated Balance Sheets is presented below:


	March 31, 2024		December 31, 2023
Health Solutions Group	$	839	$	831
Health Solutions Voluntary	199		206
Businesses Exited - Future policy benefits	4,256		4,392
Businesses Exited – Additional liability	1,978		2,001
Business Exited - Other	1,334		1,335
Other (1)	821		795
Total	$	9,427	$	9,560

(1) Primarily consists of short duration contracts.

The amount of undiscounted expected gross premiums and future benefit payments is presented in the table below:


	March 31, 2024				December 31, 2023
	Undiscounted		Discounted		Undiscounted		Discounted
Health Solutions Group
Expected future benefit payments	$	1,176	$	945	$	1,144	$	918
Expected future gross premiums	281		209		271		214
Health Solutions Voluntary
Expected future benefit payments	671		308		668		307
Expected future gross premiums	343		214		341		213

The following table presents a rollforward of the additional reserve liability for Businesses exited for the periods indicated:


	Businesses exited
	March 31, 2024		December 31, 2023
Balance at beginning of period	$	2,001	$	2,107
Effect of change in cash flow assumptions	—		(44)
Effect of actual variances from expected experience	20		(100)
Adjusted balance at January 1	2,021		1,963
Interest accrual	21		84
Excess Benefits	(107)		(417)
Assessments	43		371
Balance at end of period	1,978		2,001
Less: Reinsurance recoverable	1,927		1,950
Net additional liability, after reinsurance recoverable	$	51	$	51

The following table presents the weighted average duration of the liability for future policy benefits and the weighted average interest rates for the periods indicated:


	Health Solutions Group				Health Solutions Voluntary				Businesses Exited
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Weighted average duration (in years)(1)	7		7		15		14		8		8
Interest accretion rate	4.0	%	4.0	%	5.2	%	5.2	%	4.9	%	4.9	%
Current discount rate	5.2	%	4.9	%	5.5	%	5.1	%	5.4	%	5.1	%

(1) Weighted average duration (in years) for Businesses Exited includes additional liability.

The weighted average interest rates for the additional liability related to businesses exited were 4.2% for the periods ended March 31, 2024 and December 31, 2023.

The following table presents a rollforward of Contract owner account balances for the periods indicated:


	Wealth Solutions Deferred Group and Individual Annuity				Businesses Exited
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Balance at January 1	$	31,139	$	33,622	$	4,635	$	5,146
Deposits	631		2,309		71		288
Fee income	(11)		(9)		(93)		(373)
Surrenders, withdrawals and benefits	(1,354)		(5,663)		(149)		(577)
Net transfers (from) to the general account(1)	(47)		(5)		1		10
Interest credited	213		885		45		141
Ending Balance	$	30,571	$	31,139	$	4,510	$	4,635


Weighted-average crediting rate	2.8		%	2.8		%	3.7		%	2.5		%
Net amount at risk (2)	$	98		$	123		$	707		$	734
Cash surrender value	$	30,114		$	30,676		$	1,416		$	1,491

(1) Net transfers (from) to the general account for Wealth Solutions includes transfers of $(439) and $(523) for 2024 and 2023, respectively, related to Voya-managed institutional/mutual fund plan assets in trust that are not reflected on the Condensed Consolidated Balance Sheets.

(2) For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date and is calculated at a contract level. When a contract has both a living benefit and a death benefit, the Company calculates NAR at a contract level and aggregates the higher of the two values together.

The following table shows a reconciliation of the Contract owner account balances to the Condensed Consolidated Balance Sheets for the periods indicated:



	March 31, 2024		December 31, 2023
Wealth Solutions Deferred group and individual annuity	$	30,571	$	31,139
Businesses exited	4,510		4,635
Non-puttable funding agreements	$	1,200	$	1,175
Business exited - Other	1,235		1,275
Other(1)	926		950
Total	$	38,442	$	39,174

(1) Primarily consists of universal life contracts

The following table summarizes detail on the differences between the interest rate being credited to contract holders as of the periods indicated, and the respective guaranteed minimum interest rates ("GMIRs"):


	Account Value(1)
	Excess of crediting rate over GMIR
	At GMIR		Up to .50% Above GMIR		0.51% - 1.00% Above GMIR		1.01% - 1.50% Above GMIR		1.51% - 2.00% Above GMIR		More than 2.00% Above GMIR		Total
As of March 31, 2024
Up to 1.00%	$	108	$	4,812	$	3,641	$	2,030	$	1,022	$	788	$	12,401
1.01% - 2.00%	504		120		50		9		3		6		692
2.01% - 3.00%	10,867		95		63		107		—		4		11,136
3.01% - 4.00%	8,731		152		—		8		—		—		8,891
4.01% and Above	1,538		82		—		—		—		—		1,620
Renewable beyond 12 months (2)	412		—		—		—		3		—		415
Total discretionary rate setting products	$	22,160	$	5,261	$	3,754	$	2,154	$	1,028	$	798	$	35,155


As of December 31, 2023
Up to 1.00%	$	120	$	5,070	$	3,460	$	2,215	$	863	$	800	$	12,528
1.01% - 2.00%	527		131		50		8		3		6		725
2.01% - 3.00%	11,225		93		63		108		—		3		11,492
3.01% - 4.00%	8,873		152		—		6		—		—		9,031
4.01% and Above	1,566		83		—		—		—		—		1,649
Renewable beyond 12 months (2)	428		—		—		—		3		—		431
Total discretionary rate setting products	$	22,739	$	5,529	$	3,573	$	2,337	$	869	$	809	$	35,856

(1) Includes only the account values for investment spread products with GMIRs and discretionary crediting rates, net of policy loans. Excludes Stabilizer products, which are fee based.

(2) Represents multi year guaranteed annuity ("MYGA") contracts with renewal dates after March 31, 2024 and December 31, 2023 on which we are required to credit interest above the contractual GMIR for the next twelve months.

Reinsurance

3 Months Ended

Mar. 31, 2024

Insurance [Abstract]

Reinsurance

The Company reinsures its business through a diversified group of reinsurers. However, the Company remains liable to the extent its reinsurers do not meet their obligations under the reinsurance agreements. The Company monitors trends in arbitration and any litigation outcomes with its reinsurers. Collectability of reinsurance balances are evaluated by monitoring ratings and evaluating the financial strength of its reinsurers. Large reinsurance recoverable balances with offshore or other non-accredited reinsurers are secured through various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit ("LOC").

Information regarding the effect of reinsurance on the Condensed Consolidated Balance Sheets is as follows as of the periods indicated:


	March 31, 2024
	Direct		Assumed		Ceded		Total, Net of Reinsurance
Assets
Premiums receivable	$	252	$	12	$	(248)	$	16
Reinsurance recoverable, net of allowance for credit losses	—		—		11,812		11,812
Total	$	252	$	12	$	11,564	$	11,828

Liabilities
Future policy benefits and contract owner account balances	$	46,936	$	933	$	—	$	47,869
Liability for funds withheld under reinsurance agreements	107		—		—		107
Total	$	47,043	$	933	$	—	$	47,976



	December 31, 2023
	Direct		Assumed		Ceded		Total, Net of Reinsurance
Assets
Premiums receivable	$	193	$	9	$	(219)	$	(17)
Reinsurance recoverable, net of allowance for credit losses	—		—		11,999		11,999
Total	$	193	$	9	$	11,780	$	11,982

Liabilities
Future policy benefits and contract owner account balances	$	47,781	$	953	$	—	$	48,734
Liability for funds withheld under reinsurance agreements	103		—		—		103
Total	$	47,884	$	953	$	—	$	48,837

Information regarding the effect of reinsurance on the Condensed Consolidated Statements of Operations is as follows for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Premiums:
Direct premiums	$	1,029	$	908
Reinsurance assumed	7		10
Reinsurance ceded	(236)		(233)
Net premiums	$	800	$	685

Fee income:
Gross fee income	$	608	$	562
Reinsurance assumed	4		4
Reinsurance ceded	(99)		(102)
Net fee income	$	513	$	464

Interest credited and other benefits to contract owners / policyholders:
Direct interest credited and other benefits to contract owners / policyholders	$	1,181	$	1,108
Reinsurance assumed	19		19
Reinsurance ceded	(349)		(376)
Net interest credited and other benefits to contract owners / policyholders	$	851	$	751

If the Company determines that a reinsurance agreement does not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk, the Company records the agreement using the deposit method of accounting. As of March 31, 2024 and December 31, 2023, the Company had a deposit asset net of the allowance for credit losses of $1.2 billion, which is reported in Other assets on the Condensed Consolidated Balance Sheets.

Separate Accounts

3 Months Ended

Mar. 31, 2024

Other Liabilities Disclosure [Abstract]

Separate Accounts

The following tables present a rollforward of separate account liabilities for the Wealth Solutions stabilizer and deferred annuity business, including a reconciliation to the Condensed Consolidated Balance Sheets, for the periods indicated:


	March 31, 2024						December 31, 2023
	Wealth Solutions Stabilizer		Wealth Solutions Deferred Annuity		Total		Wealth Solutions Stabilizer		Wealth Solutions Deferred Annuity		Total
Balance at January 1	$	7,175	$	82,310	$	89,485	$	7,196	$	69,152	$	76,348
Premiums and deposits	281		2,586		2,867		940		10,052		10,992
Fee income	(8)		(116)		(124)		(34)		(426)		(460)
Surrenders, withdrawals and benefits	(379)		(2,969)		(3,348)		(1,342)		(9,631)		(10,973)
Net transfers (from) to the separate account	—		(392)		(392)		—		(518)		(518)
Investment performance	—		6,241		6,241		415		13,681		14,096
Balance at end of period	$	7,069	$	87,660	$	94,729	$	7,175	$	82,310	$	89,485

Reconciliation to Condensed Consolidated Balance Sheets:
Other					3,907						3,648
Total Separate Account liabilities					$	98,636					$	93,133

Stabilizer products allow the contract holder to select either the market value of the account or the book value of the account at termination. The book value of the account is equal to deposits plus interest, less any withdrawals. The fair value is estimated using the income approach.

Cash surrender value represents the amount of the contract holders' account balances distributable at the balance sheet date, less certain surrender charges. The cash surrender value for Wealth Solutions deferred annuity products was $87,637 and $82,286, as of March 31, 2024 and December 31, 2023, respectively.

The aggregate fair value of assets, by major investment asset category, supporting separate accounts was as follows for the periods indicated:


	March 31, 2024		December 31, 2023
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	902	$	1,015

Corporate and foreign debt securities	2,688		2,528

Mortgage-backed securities	3,191		3,231
Equity securities (including mutual funds)	91,493		85,916

Cash, cash equivalents and short-term investments	289		399
Receivable for securities and accruals	73		44
Total	$	98,636	$	93,133

Segments

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segments

The Company provides its principal products and services through three segments: Wealth Solutions, Health Solutions and Investment Management. The Company's chief operating decision maker views and manages the business through these three segments.

The Wealth Solutions segment provides tax-deferred, employer-sponsored retirement savings plans and administrative services to corporate, education, healthcare, other non-profit and government entities, and stable value products to institutional clients where the Company may or may not be providing defined contribution products and services, as well as individual retirement accounts ("IRAs"), other retail financial products and comprehensive financial services to individual customers.

The Health Solutions segment provides stop loss, group life, voluntary employee-paid and disability products to mid-sized and large businesses as well as benefit administration software solutions to employers and health plans. On January 24, 2023, the Company completed its acquisition of Benefitfocus. The financial results of Benefitfocus are reported in the Health Solutions segment for periods after the acquisition.

The Investment Management segment provides investment products and retirement solutions across a broad range of geographies, market sectors, investment styles and capitalization spectrums. Products and services are offered to institutional clients, including public, corporate and union retirement plans, endowments and foundations and insurance companies, as well as individual investors and general accounts of the Company's insurance subsidiaries and are distributed through the Company's direct sales force, consultant channel and intermediary partners (such as banks, broker-dealers and independent financial advisers).

The Company includes in Corporate the following corporate and business activities:

•corporate operations, corporate level assets and financial obligations, financing and interest expenses, dividend payments made to preferred shareholders, and other items not allocated or directly related to the Company's segments, including items such as expenses related to organizational restructurings, certain expenses and liabilities of employee benefit plans, certain adjustments to short-term and long-term incentive accruals and intercompany eliminations; and

•investment income on assets backing surplus in excess of amounts held at the segment level.

Measurement

Adjusted operating earnings before income taxes is a meaningful measure used by management to evaluate its business and segment performance. This measure enhances the understanding of the Company’s financial results by focusing on the operating performance and trends of the underlying core business segments by excluding items that tend to be highly variable from period to period based on capital market conditions and/or other factors. The Company uses the same accounting policies and procedures to measure segment Adjusted operating earnings before income taxes as it does for the directly comparable U.S. GAAP measure Income (loss) before income taxes. Adjusted operating earnings before income taxes does not replace Income (loss) before income taxes as the U.S. GAAP measure of the Company’s consolidated results of operations. Therefore, the Company believes that it is useful to evaluate both measures when reviewing the Company’s financial and operating performance. Each segment’s Adjusted operating earnings before income taxes is calculated by adjusting Income (loss) before income taxes for the following items:

•Net investment gains (losses), which are significantly influenced by economic and market conditions, including interest rates and credit spreads, and are not indicative of normal operations. Net investment gains (losses) include gains (losses) on the sale of securities, impairments, changes in the fair value of investments using the FVO unrelated to the implied loan-backed security income recognition for certain mortgage-backed obligations, and changes in the fair value of derivative instruments, excluding gains (losses) associated with swap settlements and accrued interest. It also includes changes in the fair value of derivatives related to managed custody guarantees, net of related reserve increases (decreases), less the estimated cost of these benefits, changes in nonperformance spread, and changes in market risk benefits;

•Income (loss) related to businesses exited or to be exited through reinsurance or divestment, which includes gains and (losses) associated with transactions to exit blocks of business, amortization of intangible assets and residual run-off activity. Excluding this activity better reveals trends in the Company's core business and more closely aligns Adjusted operating earnings before income taxes with how the Company manages its segments;

•Income (loss) attributable to noncontrolling interests to which the Company is not economically entitled, such as Allianz's stake in the results of VIM Holdings LLC (referred to as redeemable noncontrolling interest or Allianz noncontrolling interest) or the attribution of results from consolidated VIEs or VOEs;

•Dividend payments made to preferred shareholders are included as reductions to reflect the Adjusted operating earnings before income taxes that are available to common shareholders;

•Other adjustments may include the following items:

•Income (loss) related to early extinguishment of debt since the outcome of decisions to restructure debt are not indicative of normal operations;

•Impairment of goodwill and intangible assets as these represent losses related to infrequent events and do not reflect normal, cash-settled expenses;

•Amortization of acquisition-related intangible assets as well as contingent consideration fair value adjustments incurred in connection with certain acquisitions which are not indicative of current Operating expense fundamentals;

•Expected return on plan assets net of interest costs associated with the Company's qualified defined benefit pension plan and immediate recognition of net actuarial gains (losses) related to all of the Company's pension and other postretirement benefit obligations and gains (losses) from plan amendments and curtailments. These amounts do not reflect cash-settled expenses, and are not indicative of current Operating expense fundamentals; and

•Other items not indicative of normal operations or performance of the Company's segments or related to events such as capital or organizational restructurings, including certain costs related to debt and equity offerings, acquisition / merger integration expenses, severance and other third-party expenses associated with such activities, and expenses attributable to vacant real estate. These items vary widely in timing, scope and frequency between periods as well as between companies to which the Company is compared. Accordingly, the Company adjusts for these items as management believes that these items distort the ability to make a meaningful evaluation of the current and future performance of the Company's segments.

The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) before income taxes for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Adjusted operating earnings before income taxes by segment:
Wealth Solutions	$	186	$	132
Health Solutions	59		94
Investment Management	53		42
Corporate	(64)		(69)
Total including Allianz noncontrolling interest	235		200
Less: Earning (loss) attributable to Allianz noncontrolling interest	11		8
Total	$	224	$	192

Adjustments:
Net investment gains (losses)	63		(9)


Income (loss) related to businesses exited or to be exited through reinsurance or divestment	(32)		(33)
Income (loss) attributable to noncontrolling interests	37		46


Dividend payments made to preferred shareholders	17		14
Other adjustments	(22)		(70)
Total adjustments to income (loss) before income taxes	63		(51)

Income (loss) before income taxes	$	287	$	141

Adjusted operating revenues is a measure of the Company's segment revenues. Each segment's Operating revenues are calculated by adjusting Total revenues to exclude the following items:

•Net investment gains (losses);

•Revenues related to businesses exited or to be exited through reinsurance or divestment;

•Revenues attributable to noncontrolling interests, which represents the attribution of results from consolidated VIEs or VOEs; and

•Other adjustments primarily reflect fee income earned by the Company's broker-dealers for sales of non-proprietary products, which are reflected net of commission expense in the Company's segments’ operating revenues, other items where the income is passed on to third parties and the elimination of intercompany investment expenses included in Adjusted operating revenues.

The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Adjusted operating revenues by segment:
Wealth Solutions		$	719	$	684
Health Solutions		905		774
Investment Management		234		229
Corporate		4		11
Total		$	1,863	$	1,697

Adjustments:
Net investment gains (losses)		$	47	$	(14)


Revenues related to businesses exited or to be exited through reinsurance or divestment		24		30
Revenues attributable to noncontrolling interests		65		60
Other adjustments		52		60
Total adjustments to revenues		188		137

Total revenues		$	2,051	$	1,835

Other Segment Information

The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Investment Management intersegment revenues		$	20	$	22

The summary below presents Total assets for the Company’s segments as of the dates indicated:


	March 31, 2024		December 31, 2023
Wealth Solutions	$	126,883	$	122,318
Health Solutions	3,395		3,336
Investment Management	1,656		1,600
Corporate	25,418		25,527
Total assets, before consolidation(1)	157,352		152,781
Consolidation of investment entities	4,279		4,304


Total assets	$	161,631	$	157,085

(1) Total assets, before consolidation include the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
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+ Details

Share-based Incentive Compensation Plans

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-based Incentive Compensation Plans

The Company offers equity-based compensation awards to its employees and non-employee directors under various employee and non-employee incentive plans (together, the "Omnibus Plans"). As of March 31, 2024, common stock reserved and available for issuance under the Omnibus Plans was 7,373,481 shares.

Compensation Cost

The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Restricted Stock Unit (RSU) awards	$	23	$	37
Performance Stock Unit (PSU) awards	16		26


Total share-based compensation expense	39		63
Income tax benefit	10		15
After-tax share-based compensation expense	$	29	$	48

Awards Outstanding

The following table summarizes RSU and PSU awards activity under the Omnibus Plans for the periods indicated:


	RSU Awards				PSU Awards
(awards in millions)	Number of Awards		Weighted Average Grant Date Fair Value			Number of Awards		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024	2.0		$	67.06		2.2		$	61.17
Adjustment for PSU performance factor	—		—			(0.1)		46.94
Granted	0.8		67.51			0.7		59.21
Vested	(0.7)		65.20			(0.5)		52.71
Forfeited	—	*	69.87			—	*	44.96
Outstanding as of March 31, 2024	2.1		$	67.69		2.3		$	63.57

*Less than 0.1

The following table summarizes the number of options under the Omnibus Plans for the periods indicated:


	Stock Options
(awards in millions)	Number of Awards		Weighted Average Exercise Price
Outstanding as of January 1, 2024	1.2		$	44.79

Granted	—		—
Exercised	—	*	47.48
Forfeited	—		—
Outstanding as of March 31, 2024	1.2		$	44.68

Vested, exercisable, as of March 31, 2024	1.2		$	44.68

Shareholders' Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Shareholder's Equity

Shareholders' Equity

Common Shares

The following table presents the rollforward of common shares used in calculating the weighted average shares utilized in the basic earnings per common share calculation for the periods indicated:


	Common Shares

(shares in millions)	Issued		Held in Treasury	Outstanding
Balance, January 1, 2023	97.8		0.6	97.2
Common shares issued	9.7		—	9.7
Common shares acquired - share repurchase	—		5.4	(5.4)
Share-based compensation	2.1		0.7	1.4
Treasury stock retirement	(6.0)		(6.0)	—
Balance, December 31, 2023	103.6		0.7	102.9
Common shares issued	—	*	—	—
Common shares acquired - share repurchase	—		2.4	(2.4)
Share-based compensation	1.3		0.5	0.8
Balance, March 31, 2024	104.9		3.6	101.3

*Less than 0.1

Dividends declared per share of Common Stock were as follows for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Dividends declared per share of Common Stock	$	0.40	$	0.20

Share Repurchase Program

From time to time, the Company's Board of Directors authorizes the Company to repurchase shares of its common stock. These authorizations permit stock repurchases up to a prescribed dollar amount and generally may be accomplished through various means, including, without limitation, open market transactions, privately negotiated transactions, forward, derivative, or accelerated repurchase, or automatic repurchase transactions, including 10b5-1 plans, or tender offers. Share repurchase authorizations typically expire if unused by a prescribed date.

As of March 31, 2024, the Company's remaining repurchase capacity under the Board's prior authorization was $225. On April 23, 2024, the Company's Board of Directors provided an additional share repurchase authorization of $500. This share repurchase authorization expires on June 30, 2025 (unless extended) and does not obligate the Company to purchase any shares. The authorization for the share repurchase program may be terminated, increased or decreased by the Company's Board of Directors at any time.

During the three months ended March 31, 2024, the Company repurchased 2.4 million shares of common stock for $172.

Subsequent to March 31, 2024, the Company repurchased 802,725 shares pursuant to a 10b5-1 plan for an aggregate purchase price of $56.

Preferred Stock

As of March 31, 2024 and December 31, 2023, there were 100,000,000 shares of preferred stock authorized. Preferred stock issued and outstanding are as follows:


	March 31, 2024		December 31, 2023
Series	Issued	Outstanding	Issued	Outstanding
7.758% Non-cumulative Preferred Stock, Series A	325,000	325,000	325,000	325,000
5.35% Non-cumulative Preferred Stock, Series B	300,000	300,000	300,000	300,000
Total	625,000	625,000	625,000	625,000

The declaration of dividends on preferred stock per share and in the aggregate were as follows for the periods indicated:


	Series A				Series B
Three Months Ended March 31,	Per Share		Aggregate		Per Share		Aggregate
2024	$	38.790	$	13	$	13.375	$	4
2023	30.625		10		13.375		4

As of March 31, 2024, there were no preferred stock dividends in arrears.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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+ Details

Earnings per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per Common Share

The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and diluted net income (loss) per common share for the periods indicated:


	Three Months Ended March 31,
(in millions, except for per share data)	2024		2023
Earnings
Net income (loss) available to common shareholders:
Net income (loss)	$	288	$	129
Less: Preferred stock dividends	17		14
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	37		46


Net income (loss) available to common shareholders	$	234	$	69

Weighted average common shares outstanding
Basic	102.1		97.7
Dilutive Effects:
Warrants(1)	—		8.9
RSUs	1.2		1.2
PSUs	0.8		1.2
Stock Options	0.4		0.6
Diluted	104.5		109.6

Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share (2):


Basic	$	2.29	$	0.70



Diluted	$	2.24	$	0.63

(1) See the Shareholders' Equity Note to the Consolidated Financial Statements in Part II, Item 8. of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 for additional information on warrants settled.

(2) Basic and diluted earnings per share are calculated using unrounded, actual amounts. Therefore, the components of earnings per share may not sum to its corresponding total. Diluted earnings per share is computed assuming the issuance of restricted stock units, stock options, performance share units and warrants using the treasury stock method.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Shareholders' equity included the following components of Accumulated other comprehensive income ("AOCI") as of the dates indicated:


	March 31,
	2024		2023
Fixed maturities, net of impairment	$	(2,498)	$	(2,635)

Derivatives(1)	67		109





Change in current discount rate	(853)		(855)
Deferred income tax asset (liability)(2)	813		833
Total	(2,471)		(2,548)
Pension and other postretirement benefits liability, net of tax	2		3
AOCI	$	(2,469)	$	(2,545)

(1) Gains and losses reported in AOCI from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of March 31, 2024, the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $14.

(2) The Company uses the portfolio method to determine when stranded tax benefits (or detriments) are released from AOCI.

Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations, were as follows for the periods indicated:



	Three Months Ended March 31, 2024
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	(145)		$	30	$	(115)



Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	16			(3)		13



Change in unrealized gains (losses) on available-for-sale securities	(129)			27		(102)
Derivatives:
Derivatives	8		(1)	(2)		6
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(4)			1		(3)
Change in unrealized gains (losses) on derivatives	4			(1)		3

Change in current discount rate	38			(8)		30



Change in Accumulated other comprehensive income (loss)	$	(87)		$	18	$	(69)

(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information



	Three Months Ended March 31, 2023
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	661		$	(139)	$	522



Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	(1)			—		(1)




Change in unrealized gains (losses) on available-for-sale securities	660			(139)		521
Derivatives:
Derivatives	(12)		(1)	3		(9)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(5)			1		(4)
Change in unrealized gains (losses) on derivatives	(17)			4		(13)

Change in current discount rate	2			—		2




Change in Accumulated other comprehensive income (loss)	$	645		$	(135)	$	510

(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.

Revenue from Contract with Customers

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Financial services and software subscriptions and services revenue is disaggregated by type of service in the following table:


	Three Months Ended March 31,
		2024		2023
Wealth Solutions:
Advisory and recordkeeping and administration		$	143	$	121
Distribution and shareholder servicing		34		29

Investment Management:
Advisory, asset management and recordkeeping and administration		242		229
Distribution and shareholder servicing		39		32

Health Solutions:
Recordkeeping and administration		5		6
Software subscriptions and services		54		47
Corporate:
Recordkeeping and administration		2		12


Total financial services and software subscriptions and services revenue		519		476
Revenue from other sources(1)		82		66
Total Fee income and Other revenue		$	601	$	542

(1) Primarily consists of revenue from insurance contracts and financial instruments.

Net receivables of $319 and $339 are included in Other assets on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
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-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company uses the estimated annual effective tax rate method in computing its interim tax provision. Certain items, including changes in the realizability of deferred tax assets and changes in liabilities for uncertain tax positions, are excluded from the estimated annual effective tax rate and the actual tax expense or benefit is reported in the period the related item is incurred. The Company's effective tax rate for the three months ended March 31, 2024 was (0.3)%. The effective tax rate differed from the statutory rate of 21% primarily due to the Security Life of Denver Company capital loss carryback, the effect of the dividends received deduction ("DRD"), noncontrolling interest and tax credits. On January 4, 2021, the Company completed a series of transactions pursuant to a Master Transaction Agreement with Resolution Life U.S. Holdings Inc. ("Resolution Life US"). As a part of these transactions, Resolution Life US acquired the Company's wholly owned subsidiary, Security Life of Denver Company ("SLD"). SLD generated capital losses in the 2023 and 2022 tax years, which are included in a carryback claim for the Company. The Company recorded a $38 and $92 tax benefit in 2024 and 2023, respectively, resulting in a decrease to the effective tax rate (the "Security Life of Denver Company capital loss carryback"). The Company's effective tax rate for the three months ended March 31, 2023 was 8.5%. The effective tax rate differed from the statutory rate of 21% primarily due to noncontrolling interest, the effect of the DRD and tax credits. Valuation allowances are provided when it is considered more likely than not that some portion or all of the deferred tax assets ("DTAs") will not be realized. The Company reviews all available positive and negative evidence to determine if a valuation allowance is recorded, including historical and projected pre-tax book income, tax planning strategies and reversals of temporary differences. As of March 31, 2024, the Company had year-to-date losses on securities of $125 in Other comprehensive income, which increased the related DTA. However, operating income remained positive for the period and was largely consistent with the 2023 year-end valuation allowance analysis. After evaluating the positive and negative evidence, the Company did not change its judgement regarding the realization of DTAs. For more information related to the valuation allowance, refer to the Income Taxes Note to the Consolidated Financial Statements included in Part II, Item 8. of the Annual Report on Form 10-K. Tax Regulatory Matters For the tax years 2022 through 2024, the Company participates in the Internal Revenue Service ("IRS") Compliance Assurance Process ("CAP"), which is a continuous audit program provided by the IRS. For the 2023 tax year, the Company is in the Compliance Maintenance Bridge ("Bridge") phase of CAP. In the Bridge phase, the IRS did not conduct any review or provide any letters of assurance for that tax year. For the 2024 tax year, the Company is in the Compliance Maintenance Bridge Plus ("Bridge Plus") phase of CAP. In the Bridge Plus phase, the IRS will review the tax return and issue either a full or partial acceptance letter upon completion of review. Tax Legislative Matters In August 2022, the Inflation Reduction Act was signed into law creating the corporate alternative minimum tax ("CAMT"). The IRS has only issued limited guidance on the CAMT, and uncertainty remains regarding the application of and potential adjustments to the CAMT. The Company is not subject to the CAMT based on this guidance and will continue to evaluate the applicability as more guidance is provided.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Financing Agreements

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Financing Agreements

Short-term and Long-term Debt

The following table summarizes the carrying value of the Company’s debt issued or borrowed and outstanding as of the periods indicated:


	Issuer	Maturity	March 31, 2024		December 31, 2023




3.976% Senior Notes, due 2025 (2)(3)	Voya Financial, Inc.	02/15/2025	$	393	$	390
3.65% Senior Notes, due 2026 (2)(3)	Voya Financial, Inc.	06/15/2026	445		446
5.7% Senior Notes, due 2043 (2)(3)	Voya Financial, Inc.	07/15/2043	396		396
4.8% Senior Notes, due 2046 (2)(3)	Voya Financial, Inc.	06/15/2046	297		297
4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048	Voya Financial, Inc.	01/23/2048	336		336


7.63% Voya Holdings Inc. debentures, due 2026(1)	Voya Holdings, Inc.	08/15/2026	139		139
6.97% Voya Holdings Inc. debentures, due 2036(1)	Voya Holdings, Inc.	08/15/2036	79		79
8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027	Equitable of Iowa Capital Trust II	04/01/2027	13		13


1.00% Windsor Property Loan	Voya Retirement Insurance and Annuity Company	06/14/2027	2		2



Subtotal			2,100		2,098
Less: Current portion of long-term debt			393		1
Total			$	1,707	$	2,097

(1) Guaranteed by ING Group.

(2) Interest is paid semi-annually in arrears.

(3) Guaranteed by Voya Holdings.

As of March 31, 2024, the Company was in compliance with its debt covenants.

Aetna Notes

As of March 31, 2024, outstanding principal amount of the 7.63% Voya Holdings Inc. debentures, due 2026 and 6.97% Voya Holdings Inc. debentures, due 2036 (collectively, the "Aetna Notes") was $218, which is guaranteed by ING Group. As of March 31, 2024, the Company provided $225 of collateral benefiting ING Group, comprised of a deposit of $213 to a control account with a third-party collateral agent and $12 of letter of credit. The collateral may be exchanged at any time upon the posting of any other form of acceptable collateral to the account.

Credit Facilities

The Company uses credit facilities as part of its capital management practices. Total fees associated with credit facilities for the three months ended March 31, 2024 and 2023 were immaterial.

The following table summarizes the Company's credit facilities as of March 31, 2024:


($ in millions)
Obligor / Applicant	Business Supported	Secured / Unsecured	Committed / Uncommitted	Expiration	Capacity			Utilization			Unused Commitment
Voya Financial, Inc.	Other	Unsecured	Committed	05/01/2028	$	500		$	—		$	500

























Voya Financial, Inc.	Other	Unsecured	Committed	04/07/2025	12		(2)	12		(1)	—


Total					$	512		$	12		$	500

(1) Amount utilized as collateral for outstanding Aetna Notes.

(2) In March of 2024, the Company decreased the capacity of its letter of credit, expiring in 2025, from $200 to $12. This reduction was due to the reduced collateral requirements resulting from the maturity of a portion of the Aetna Notes. Additionally, the full capacity was not expected to be utilized through its expiration.

Put Option Agreement for Senior Debt Issuance

During 2015, the Company entered into an off-balance sheet 10-year put option agreement with a Delaware trust formed by the Company, in connection with the sale by the trust of pre-capitalized trust securities ("P-Caps"), that provides Voya Financial, Inc. the right, at any time over a 10-year period, to issue up to $500 principal amount of its 3.976% Senior Notes due 2025 ("3.976% Senior Notes") to the trust and receive in exchange a corresponding principal amount of U.S. Treasury securities that are held by the trust. The 3.976% Senior Notes will not be issued unless and until the put option is exercised. In return, the Company pays a semi-annual put premium to the trust at a rate of 1.875% per annum applied to the unexercised portion of the put option and reimburses the trust for its expenses. The put premium and expense reimbursements are recorded in Operating expenses in the Condensed Consolidated Statements of Operations. If and when issued, the 3.976% Senior Notes will be guaranteed by Voya Holdings.

Upon an event of default, the put option will be exercised automatically in full. The Company has a one-time right to unwind a prior voluntary exercise of the put option by repurchasing all of the 3.976% Senior Notes then held by the trust for U.S. Treasury securities. If the put option has been fully exercised, the 3.976% Senior Notes issued may be redeemed by the Company prior to their maturity at par or, if greater, at a make-whole redemption price, in each case plus accrued and unpaid interest to the date of redemption. The P-Caps are to be redeemed by the trust on February 15, 2025 or upon any early redemption of the 3.976% Senior Notes.

On May 1, 2023, pursuant to the put option agreement, the Company exercised the put option to require the trust to purchase $400 aggregate principal amount of 3.976% Senior Notes in exchange for a corresponding amount of U.S. Treasury securities held by the trust. On May 3, 2023, the Company issued $400 aggregate principal amount of 3.976% Senior Notes to the trust and the Company received approximately $400 of U.S. Treasury securities. The proceeds from the sale of the U.S. Treasury securities were used to redeem the 5.65% Fixed-to-Floating Rate Junior Subordinated Notes due 2053 on May 15, 2023.

As of March 31, 2024, the Company may issue up to $100 principal amount of its 3.976% Senior Notes to the trust under the put option agreement.

Senior Unsecured Credit Facility Agreement

As of March 31, 2024, the Company had a $500 senior unsecured credit facility with a syndicate of banks which expires May 1, 2028. The facility provides $500 of committed capacity for revolving loan borrowings and letters of credit issuances, including a sublimit for swingline (short-term) loans in an aggregate amount of up to $25. As of March 31, 2024, there were no amounts outstanding as revolving credit borrowings, no amounts of LOCs outstanding, and no amounts of swingline loans outstanding under the senior unsecured credit facility. Under the terms of the facility, the Company is required to maintain a minimum net worth of $4.998 billion, which may increase upon any future equity issuances by the Company.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

During the three months ended March 31, 2024, there was no impairment on the Company's right-of-use asset associated with leased office space. During the three months ended March 31, 2023, the Company recorded an impairment of $2 on its right-of-use asset associated with leased office space. The impairments are included in Operating expenses in the Condensed Consolidated Statements of Operations.

Commitments

Through the normal course of investment operations, the Company commits to either purchase or sell securities, mortgage loans, or money market instruments, at a specified future date and at a specified price or yield. The inability of counterparties to honor these commitments may result in either a higher or lower replacement cost. Also, there is likely to be a change in the value of the securities underlying the commitments.

As of March 31, 2024, the Company had off-balance sheet commitments to acquire mortgage loans of $66 and purchase limited partnerships and private placement investments of $975, of which $328 related to consolidated investment entities.

Restricted Assets

The Company is required to maintain assets on deposit with various regulatory authorities to support its insurance operations. The Company may also post collateral in connection with certain securities lending, repurchase agreements, funding agreements, credit facilities and derivative transactions. The components of the fair value of the restricted assets were as follows as of the dates indicated:


	March 31, 2024		December 31, 2023
Fixed maturity collateral pledged to FHLB(1)	$	1,803	$	1,956
FHLB restricted stock(2)	63		64
Fixed maturities-state and other deposits	37		37
Cash and cash equivalents	15		25
Securities pledged(3)	1,227		1,160
Total restricted assets	$	3,145	$	3,242

(1) Included in Fixed maturities, available for sale, at fair value on the Condensed Consolidated Balance Sheets.

(2) Included in Other investments on the Condensed Consolidated Balance Sheets.

(3) Includes the fair value of loaned securities of $912 and $842 as of March 31, 2024 and December 31, 2023, respectively. In addition, as of March 31, 2024 and December 31, 2023, the Company delivered securities as collateral of $201 and $201, respectively, and repurchase agreements of $114 and $117, respectively. Loaned securities and securities delivered as collateral are included in Securities pledged on the Condensed Consolidated Balance Sheets.

Federal Home Loan Bank Funding Agreements

The Company is a member of the FHLB of Des Moines and the FHLB of Boston and is required to pledge collateral to back funding agreements issued to the FHLB. As of March 31, 2024 and December 31, 2023, the Company had $1,200 and $1,175, respectively, in non-putable funding agreements, which are included in Contract owner account balances on the Condensed Consolidated Balance Sheets. As of March 31, 2024 and December 31, 2023, assets with a market value of approximately $1,803 and $1,956, respectively, collateralized the FHLB funding agreements. Assets pledged to the FHLB are included in Fixed maturities, available-for-sale, at fair value on the Condensed Consolidated Balance Sheets.

Litigation, Regulatory Matters and Contingencies

Litigation, regulatory and other loss contingencies arise in connection with the Company's activities as a diversified financial services firm. The Company is a defendant in a number of litigation matters, arising from the conduct of its business, both in the ordinary course and otherwise. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. The variability in pleading requirements and past experience

demonstrate that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim.

As with other financial services companies, the Company periodically receives informal and formal requests for information from various state and federal governmental agencies and self-regulatory organizations in connection with inquiries and investigations of the products and practices of the Company or the financial services industry. For example, the Company is cooperating with a publicly reported, industry-wide investigation by the SEC regarding compliance with certain record-keeping requirements for business-related electronic communications on unapproved channels. It is the practice of the Company to cooperate fully in these matters.

While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company's financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company's litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company's results of operations or cash flows in a particular quarterly or annual period.

For some matters, the Company is able to estimate a possible range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company, however, believes a loss is reasonably possible, but not probable, no accrual is required. For matters for which an accrual has been made, but there remains a reasonably possible range of loss in excess of the amounts accrued or for matters where no accrual is required, the Company develops an estimate of the unaccrued amounts of the reasonably possible range of losses. As of March 31, 2024, the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date, to be up to approximately $100.

For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company's accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews.

Litigation includes Ravarino, et al. v. Voya Financial, Inc., et al. (USDC District of Connecticut, No. 3:21-cv-01658)(filed December 14, 2021). In this putative class action, the plaintiffs allege that the named defendants breached their fiduciary duties of prudence and loyalty in the administration of the Voya 401(k) Savings Plan. The plaintiffs claim that the named defendants did not exercise proper prudence in their management of allegedly poorly performing investment options, including proprietary funds, and passed excessive investment-management and other administrative fees for proprietary and non-proprietary funds onto plan participants. The plaintiffs also allege that the defendants engaged in self-dealing through the inclusion of the Voya Stable Value Option into the plan offerings and by setting the “crediting rate” for participants’ investment in the Stable Value Fund artificially low in relation to Voya’s general account investment returns in order to maximize the spread and Voya’s profits at the participants’ expense. The complaint seeks disgorgement of unjust profits as well as costs incurred. On June 13, 2023, the Court issued a ruling granting in part and denying in part Voya's motion to dismiss. The court largely dismissed the claims for breach of fiduciary duty. The remaining claims concern allegations of breaches of the ERISA prohibited transactions rule and a claim for failure to monitor the Voya Small Cap Growth fund. The Company continues to deny the allegations, which it believes are without merit, and intends to defend the case vigorously.

In November 2022, the Company acquired Czech Asset Management, L.P., pursuant to an agreement that provides for earn-out payments if certain contingencies are met. On March 11, 2024, the Company received from the sellers a demand for arbitration of a claim that the full amount of these earn-outs had become payable. The Company is opposing the claim in arbitration.

Contingencies related to Performance-based Capital Allocations on Private Equity Funds

Certain performance-based capital allocations related to sponsored private equity funds ("carried interest") are not final until the conclusion of an investment term specified in the relevant asset management contract. As a result, such carried interest, if

accrued or paid to the Company during such term, is subject to later adjustment based on subsequent fund performance. If the fund’s cumulative investment return falls below specified investment return hurdles, some or all of the previously accrued carried interest is reversed to the extent that the Company is no longer entitled to the performance-based capital allocation. Should the fund’s cumulative investment return subsequently increase above specified investment return hurdles in future periods, previous reversals could be fully or partially recovered.

As of March 31, 2024, approximately $91 of previously accrued carried interest would be subject to full or partial reversal in future periods if cumulative fund performance hurdles are not maintained throughout the remaining life of the affected funds.

Consolidated and Nonconsolidated Investment Entities

3 Months Ended

Mar. 31, 2024

Consolidated Investment Entities [Abstract]

Consolidated and Nonconsolidated Investment Entities

The Company holds variable interests in certain investment entities in the form of debt or equity investments, as well as the right to receive management fees, performance fees, and carried interest. The Company consolidates certain entities under the VIE guidance when it is determined that the Company is the primary beneficiary. Alternatively, certain entities are consolidated under the VOE guidance when control is obtained through voting rights. Refer to the Condensed Consolidated Balance Sheets for the assets and liabilities of the Company's consolidated investment entities.

The Company has no right to the benefits from, nor does it bear the risks associated with consolidated investment entities beyond the Company’s direct equity and debt investments in and management fees generated from these entities. Such direct investments amounted to approximately $343 and $316 as of March 31, 2024 and December 31, 2023, respectively. If the Company were to liquidate, the assets held by consolidated investment entities would not be available to the general creditors of the Company as a result of the liquidation.

Consolidated VIEs and VOEs

Collateral Loan Obligations Entities ("CLOs")

The Company is involved in the design, creation, and the ongoing management of CLOs. These entities are created for the purpose of acquiring diversified portfolios of senior secured floating rate leveraged loans, and securitizing these assets by issuing multiple tranches of collateralized debt; thereby providing investors with a broad array of risk and return profiles. Also known as collateralized financing entities under ASC Topic 810, CLOs are variable interest entities by definition.

In return for providing collateral management services, the Company earns investment management fees and contingent performance fees. In addition to earning fee income, the Company often invests in the subordinated debt of entities formed to be the issuers of CLO offerings during their warehouse periods. The Company’s investments in these CLOs are repaid when the CLOs’ warehouse periods are closed and the CLO offerings are issued. The Company performs ongoing monitoring of the consolidation assessment for CLOs during and after their warehouse periods to determine if Voya remains the primary beneficiary of the CLOs. The fee income earned and investments held are included in the Company's ongoing consolidation assessment for each CLO. The Company was the primary beneficiary of 7 and 5 CLOs as of March 31, 2024 and December 31, 2023, respectively.

Limited Partnerships ("LPs")

The Company invests in and manages various limited partnerships, including private equity funds and hedge funds. The LPs generally have a ten-year life and a specified period during which investors can subscribe for limited partnership interests. Once the investors are admitted as limited partners, the investors are required to contribute capital when called by the general partners. The purpose of the LPs is to obtain subscriptions from limited partners and maximize the return to their partners by assembling a diversified portfolio of investments in private equity funds and other securities or assets with similar risk and return characteristics primarily through secondary market purchases. The majority of the investors in the LPs are unrelated parties to the Company. In return for subscriptions, each partner receives an equity interest in the LPs in proportion to its respective investment. These entities have been evaluated by the Company and are determined to be VIEs due to the equity holders, as a group, lacking the characteristics of a controlling financial interest.

In return for serving as the general partner of and providing investment management services to these entities, the Company earns management fees and carried interest in the normal course of business. Additionally, the Company often holds an investment in each limited partnership it manages, generally in the form of general partner and limited partner interests. The fee income, carried interest, and investments held are included in the Company’s ongoing consolidation analysis for each limited partnership. The Company consolidated 11 partnerships as of March 31, 2024 and December 31, 2023.

The noncontrolling interest related to partnerships decreased from $1,685 at December 31, 2023 to $1,544 at March 31, 2024. Changes in market value, contributions, and distributions related to these investments in the funds directly impact the noncontrolling interest component of Shareholders' equity on the Company's Condensed Consolidated Balance Sheets. The change in noncontrolling interest was primarily driven by an increase in net distributions partially offset by favorable market appreciation in limited partnership investments. The Company records the noncontrolling interest using a lag methodology relying on the most recent financial information available.

Registered Investment Companies

The Company did not consolidate any sponsored investment funds accounted for as VOEs as of March 31, 2024 and December 31, 2023.

Fair Value Measurement

Upon consolidation, the Company elected to apply the FVO for financial assets and financial liabilities held by CLOs and continued to measure these assets (primarily corporate loans) and liabilities (debt obligations issued by CLOs) at fair value in subsequent periods. The Company has elected the FVO to more closely align its accounting with the economics of its transactions and allows the Company to more effectively align changes in the fair value of CLO assets with a commensurate change in the fair value of CLO liabilities.

Investments held by consolidated private equity funds are measured and reported at fair value in the Company's Condensed Consolidated Financial Statements. Changes in the fair value of consolidated investment entities are recorded as a separate line item within Income (loss) related to consolidated investment entities in the Company's Condensed Consolidated Statements of Operations.

The methodology for measuring the fair value of financial assets and liabilities of consolidated investment entities, and the classification of these measurements in the fair value hierarchy is consistent with the methodology and classification applied by the Company to its investment portfolio, as discussed within the Fair Value Measurements (excluding Consolidated Investment Entities) Note to these Condensed Consolidated Financial Statements.

As discussed in more detail below, the Company utilizes valuations obtained from third-party commercial pricing services, brokers and investment sponsors or third-party administrators that supply NAV (or its equivalent) per share used as a practical expedient. The valuations obtained from brokers and third-party commercial pricing services are non-binding. These valuations are reviewed on a monthly or quarterly basis depending on the entity and its underlying investments. Procedures include, but are not limited to, a review of underlying fund investor reports, review of top and worst performing funds requiring further scrutiny, review of variance from prior periods and review of variance from benchmarks, where applicable. In addition, the Company considers both macro and fund specific events that may impact the latest NAV supplied and determines if further adjustments of value should be made. Such changes, if any, are subject to senior management review.

When a price cannot be obtained from a commercial pricing service, independent broker quotes are solicited. Securities priced using independent broker quotes are classified as Level 3. Broker quotes and prices obtained from pricing services are reviewed and validated through an internal valuation committee price variance review, comparisons to internal pricing models, back testing to recent trades or monitoring of trading volumes.

Cash and Cash Equivalents

The carrying amounts for cash reflect the assets’ fair values. The fair value for cash equivalents is determined based on quoted market prices. These assets are classified as Level 1.

CLOs

Corporate loans: Corporate loan investments, which comprise the majority of consolidated CLO portfolio collateral, are senior secured corporate loans maturing at various dates between 2024 and 2031, paying interest at SOFR, EURIBOR or PRIME plus a spread of up to 7.7%. As of March 31, 2024 and December 31, 2023, the unpaid principal balance exceeded the fair value of the corporate loans by approximately $32 and $46, respectively. Less than 1.0% of the collateral loans were in default as of March 31, 2024 and December 31, 2023.

The fair values for corporate loans are determined using independent commercial pricing services. Fair value measurement based on pricing services may be classified in Level 2 or Level 3 depending on the type, complexity, observability and liquidity of the asset being measured. The inputs used by independent commercial pricing services, such as benchmark yields and credit risk adjustments, are those that are derived principally from or corroborated by observable market data. Hence, the fair value measurement of corporate loans priced by independent pricing service providers is classified within Level 2 of the fair value hierarchy. In addition, there are assets held with CLO portfolios that represent senior level debt of other third party CLOs. These CLO investments are classified within Level 3 of the fair value hierarchy. See description of fair value process for CLO notes below.

CLO notes: The CLO notes are backed by diversified loan portfolios consisting primarily of senior secured floating rate leveraged loans. Repayment risk is segmented into tranches with credit ratings of these tranches reflecting both the credit quality of underlying collateral as well as how much protection a given tranche is afforded by tranches that are subordinate to it. The most subordinated tranche bears the first loss and receives the residual payments, if any. The interest rates are generally variable rates based on SOFR or EURIBOR plus a pre-defined spread, which varies from 1.0% for the more senior tranches to 9.6% for the more subordinated tranches. CLO notes mature in 2034, 2036, and 2037, and have a weighted average maturity of 12 years as of March 31, 2024. The investors in this debt are not affiliated with the Company and have no recourse to the general credit of the Company for this debt.

The fair values of the CLO notes are measured based on the fair value of the CLO's corporate loans, as the Company uses the measurement alternative available under ASU 2014-13 and determined that the inputs for measuring financial assets are more observable. The CLO notes are classified within Level 2 of the fair value hierarchy, consistent with the classification of the majority of the CLO financial assets.

The Company reviews the detailed prices including comparisons to prior periods for reasonableness. The Company utilizes a formal pricing challenge process to request a review of any price during which time the vendor examines its assumptions and relevant market inputs to determine if a price change is warranted.

The following narrative indicates the sensitivity of inputs:

•Default Rate: An increase (decrease) in the expected default rate would likely increase (decrease) the discount margin (increase risk premium) used to value the CLO investments and CLO notes and, as a result, would potentially decrease the value of the CLO investments and CLO notes.

•Recovery Rate: A decrease (increase) in the expected recovery of defaulted assets would potentially decrease (increase) the valuation of CLO investments and CLO notes.

•Prepayment Rate: A decrease (increase) in the expected rate of collateral prepayments would potentially decrease (increase) the valuation of CLO investments and CLO notes as the expected weighted average life ("WAL") would increase (decrease).

•Discount Margin (spread over SOFR): An increase (decrease) in the discount margin used to value the CLO investments and CLO notes would decrease (increase) the value of the CLO investments and CLO notes.

Private Equity Funds

As prescribed in ASC Topic 820, the unit of account for these investments is the interest in the investee fund. The Company owns an undivided interest in the fund portfolio and does not have the ability to dispose of individual assets and liabilities in the fund portfolio. Rather, the Company would be required to redeem or dispose of its entire interest in the investee fund. There is no current active market for interests in underlying private equity funds.

Valuation is generally based on the valuations provided by the fund's general partner or investment manager. The valuations typically reflect the fair value of the Company's capital account balance of each fund investment, including unrealized capital gains (losses), as reported in the financial statements of the respective investee fund as of the respective year end or the latest available date. In circumstances where fair values are not provided, the Company seeks to determine the fair value of fund investments based upon other information provided by the fund's general partner or investment manager or from other sources.

The fair value of securities received in-kind from fund investments is determined based on the restrictions around the securities.

•Unrestricted, publicly traded securities are valued at the closing public market price on the reporting date;

•Restricted, publicly traded securities may be valued at a discount from the closing public market price on the reporting date, depending on the circumstances; and

•Privately held securities are valued by the directors/general partner of the investee fund, based on a variety of factors, including the price of recent transactions in the company's securities and the company's earnings, revenue and book value.

In the case of direct investments or co-investments in private equity companies, the Company initially recognizes investments at cost and subsequently adjusts investments to fair value. On a quarterly basis, the Company reviews the general partner or lead investor's valuation of the investee company, taking into account other available information, such as indications of a market value through subsequent issues of capital or transactions between third parties, performance of the investee company during the period and public, comparable companies' analysis, where appropriate.

Investments in these funds typically may not be fully redeemed at net asset value ("NAV") within 90 days because of inherent restriction on near term redemptions.

As of March 31, 2024, certain private equity funds maintained revolving lines of credit of $1,313. As of December 31, 2023, certain private equity funds maintained term loans and revolving lines of credit of $1,330. The term loans were fully paid off during the three months ended March 31, 2024, and the revolving lines of credit are eligible for renewal every three years; all loans bear interest at EURIBOR or SOFR plus 140 - 240 bps. The lines of credit are used for funding transactions before capital is called from investors, as well as for the financing of certain purchases. As of March 31, 2024 and December 31, 2023, outstanding borrowings amount to $1,216 and $1,198, respectively. The borrowings are reflected in Liabilities related to consolidated investment entities - Other liabilities on the Company's Condensed Consolidated Balance Sheets. The borrowings are carried at an amount equal to the unpaid principal balance.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2024:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	180	$	—	$	—	$	—	$	180
Corporate loans	—		1,500		—		—		1,500
Limited partnerships/corporations	—		—		—		2,881		2,881
VOE
Cash and cash equivalents	1		—		—		—		1

Other investments(1)	—		—		—		24		24

Total assets	$	181	$	1,500	$	—	$	2,905	$	4,586
Liabilities
VIEs
CLO notes	$	—	$	1,368	$	—	$	—	$	1,368
Total liabilities	$	—	$	1,368	$	—	$	—	$	1,368
(1) VOE - Other investments are reflected in Assets related to consolidated investment entities - Other assets on the Company's Condensed Consolidated Balance Sheets.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2023:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	181	$	—	$	—	$	—	$	181
Corporate loans	—		1,404		—		—		1,404
Limited partnerships/corporations	—		—		—		2,861		2,861





Total assets	$	181	$	1,404	$	—	$	2,861	$	4,446
Liabilities
VIEs
CLO notes	$	—	$	1,332	$	—	$	—	$	1,332
Total liabilities	$	—	$	1,332	$	—	$	—	$	1,332

Transfers of investments out of Level 3 and into Level 2 or Level 1, if any, are recorded as of the beginning of the period in which the transfer occurred. For the three months ended March 31, 2024 and 2023, there were no transfers in or out of Level 3 or transfers between Level 1 and Level 2.

Deconsolidation of Certain Investment Entities

Certain investment entities that have historically been consolidated in the financial statements may require deconsolidation as of the reporting period because: (a) such funds have been liquidated or dissolved; or (b) the Company is no longer deemed to be the primary beneficiary of the VIEs/VOEs as it no longer has a controlling financial interest.

The change in CLO’s consolidation status due to the close of the warehouse and the launch of the CLO do not meet the criteria described above as this transaction represents normal business operations of the entity. Refer to the CLO life cycle described above.

The Company had no deconsolidation during the three months ended March 31, 2024 and 2023. For deconsolidated investment entities, the Company continues to serve as the general partner and/or investment manager until such entities are fully liquidated.

Nonconsolidated VIEs

The Company also holds variable interest in certain CLOs and LPs that are not consolidated as it has been determined that the Company is not the primary beneficiary.

CLOs

As of March 31, 2024 and December 31, 2023, the Company held $383 ownership interests in unconsolidated CLOs, which also represents the Company's maximum exposure to loss.

LPs

As of March 31, 2024 and December 31, 2023, the Company held $1,708 and $1,621 ownership interests, respectively, in unconsolidated limited partnerships, which also represents the Company's maximum exposure to loss.

Securitizations

The Company invests in various tranches of securitization entities, including RMBS, CMBS and ABS. Through its investments, the Company is not obligated to provide any financial or other support to these entities. Each of the RMBS, CMBS and ABS

entities are thinly capitalized by design and considered VIEs. The Company's involvement with these entities is limited to that of a passive investor. The Company has no unilateral right to appoint or remove the servicer, special servicer or investment manager, which are generally viewed to have the power to direct the activities that most significantly impact the securitization entities' economic performance, in any of these entities, nor does the Company function in any of these roles. The Company, through its investments or other arrangements, does not have the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the entity. Therefore, the Company is not the primary beneficiary and does not consolidate any of the RMBS, CMBS and ABS entities in which it holds investments. These investments are accounted for as investments available-for-sale as described in the Fair Value Measurements (excluding Consolidated Investment Entities) Note to these Condensed Consolidated Financial Statements and unrealized capital gains (losses) on these securities are recorded directly in AOCI, except for certain RMBS which are accounted for under the FVO whose change in fair value is reflected in Net gains (losses) in the Condensed Consolidated Statements of Operations. The Company’s maximum exposure to loss on these structured investments is limited to the amount of its investment. Refer to the Investments (excluding Consolidated Investment Entities) Note to these Condensed Consolidated Financial Statements for details regarding the carrying amounts and classifications of these assets.

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

The changes in the carrying amount of goodwill reported in the Company's operating segments were as follows:


	Wealth Solutions		Health Solutions		Investment Management		Corporate(1)		Consolidated
Balance as of January 1, 2023	$	17	$	24	$	286	$	—	$	327
Additions from business combinations	—		319		—		102		421

Balance as of December 31, 2023	$	17	$	343	$	286	$	102	$	748
Additions from business combinations(2)	—		—		—		—		—

Balance as of March 31, 2024	$	17	$	343	$	286	$	102	$	748

(1) Corporate includes goodwill that was acquired by the parent company and not pushed to a subsidiary within the Company’s reportable segments. The carrying value of goodwill within Corporate is allocated to Wealth Solutions, Health Solutions, and Investment Management reporting units as $72, $20 and $10, respectively

(2) See the Business, Basis of Presentation and Significant Accounting Policies Note for information on recent business combinations.

Other Intangible Assets

The following table presents other intangible assets as of the dates indicated:


	Weighted Average Amortization Lives	March 31, 2024						December 31, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Indefinite-life intangibles:
Right to manage client assets	N/A	$	345	$	—	$	345	$	345	$	—	$	345
Management contract rights	N/A	5		—		5		5		—		5
Total indefinite-life intangibles		$	350	$	—	$	350	$	350	$	—	$	350
Finite-life intangibles:
Management contract rights	15 years	$	153	$	14	$	139	$	153	$	11	$	142
Customer relationship lists	17 years	325		132		193		325		128		197
Trademarks	8 years	15		2		13		15		2		13
Computer software	4 years	528		362		166		501		346		155
Total intangible assets		$	1,371	$	510	$	861	$	1,344	$	487	$	857

Amortization expense related to intangible assets were $23 and $20 for the three months ended March 31, 2024 and 2023, respectively.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 251	$ 83

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 250
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

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-Name Accounting Standards Codification
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-Paragraph 60B
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Business, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Adoption of New Pronouncements and Future Adoption of Accounting Pronouncements	Adoption of New Pronouncements Equity Securities Subject to Contractual Sale Restrictions In June 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2022-03, "Fair Value Measurement (Topic 280): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions" ("ASU 2022-03"), which clarifies that contractual restrictions on equity security sales are not considered part of the security unit of account and, therefore, are not considered in measuring the fair value. In addition, the restrictions cannot be recognized and measured as separate units of account. Disclosures on such restrictions are also required. The provisions of ASU 2022-03 were adopted prospectively on January 1, 2024. The adoption did not have an impact on the Company's financial condition, results of operations, or cash flows. Future Adoption of Accounting Pronouncements Profits Interest and Similar Awards In March 2024, the FASB issued ASU 2024-01, "Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards" ("ASU 2024-01"), which adds incremental clarity for how profits interests should be accounted. ASU 2024-01 is effective for annual periods beginning after December 15, 2024 and interim periods within those annual periods with early adoption permitted. The Company intends to adopt ASU 2024-01 as of January 1, 2025 on a prospective basis, and does not expect this ASU to have a material impact on the Company's financial condition, results of operations, or cash flows. Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires: •A tabular rate reconciliation of (1) reported income tax expense/benefit from continuing operations, to (2) the product of the income/loss from continuing operations before income taxes and the statutory federal income tax rate, using specific categories, as well as disclosure of certain reconciling items based on a 5% threshold. •Year-to-date net income taxes paid, disaggregated by federal, state, and foreign, as well as disaggregated information on net income taxes paid to an individual jurisdiction based on a 5% threshold. The amendments are effective for annual periods beginning after December 15, 2024 and should be applied prospectively, with retrospective application permitted. Early adoption is also permitted. The Company is currently in the process of determining the impacts of adoption of the provisions of ASU 2023-09. Segment Disclosures In November 2023, the FASB issued ASU 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which requires all current annual disclosures about profit/loss and assets to be reported in interim periods, as well as enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024, and are required to be applied retrospectively. Restated prior period disclosures should be based on the significant segment expense categories disclosed in the period of adoption. The Company is currently in the process of determining the impacts of adoption of the provisions of ASU 2023-07. Climate Related Disclosures In March 2024, the SEC adopted a final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, to enhance and standardize climate-related disclosures. The rule will require companies to disclose material Scope 1 and Scope 2 greenhouse gas emissions; climate-related risks, governance, and oversight; and the financial effects of severe weather events and other natural conditions. These disclosures will be phased in beginning with the Company's annual report for the year ending December 31, 2025. While the implementation of this rule is pending the outcome of legal challenges, the Company is currently assessing the impact of adoption on the Consolidated Financial Statements and related disclosures in the event that the stay is lifted.
Derivatives	The Company primarily enters into the following types of derivatives: Interest rate swaps: Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and/or liabilities. Interest rate swaps are also used to hedge the interest rate risk associated with the value of assets it owns or in an anticipation of acquiring them. Using interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest payments, calculated by reference to an agreed upon notional principal amount. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made to/from the counterparty at each due date. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Foreign exchange swaps: The Company uses foreign exchange or currency swaps to reduce the risk of change in the value, yield or cash flows associated with certain foreign denominated invested assets. Foreign exchange swaps represent contracts that require the exchange of foreign currency cash flows against U.S. dollar cash flows at regular periods, typically quarterly or semi-annually. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships. Total return swaps: The Company uses total return swaps as a hedge of interest related risks within various Legacy Annuity and Retirement products. Total return swaps are also used as a hedge of other corporate liabilities. Using total return swaps, the Company agrees with another party to exchange, at specified intervals, the difference between the economic performance of assets or a market index and a fixed or variable funding multiplied by reference to an agreed upon notional amount. No cash is exchanged at the onset of the contracts. Cash is paid and received over the life of the contract based upon the terms of the swaps. The Company utilizes these contracts in non-qualifying hedging relationships. Futures: Futures contracts are used to hedge against a decrease in certain equity indices. The Company also uses interest rate futures contracts to hedge its exposure to market risks due to changes in interest rates. The Company enters into exchange traded futures with regulated futures commissions that are members of the exchange. The Company also posts initial and variation margins, with the exchange, on a daily basis. The Company utilizes exchange-traded futures in non-qualifying hedging relationships. Embedded derivatives: The Company also invests in certain fixed maturity instruments and has issued certain products that contain embedded derivatives for which market value is at least partially determined by, among other things, levels of or changes in domestic and/or foreign interest rates (short-term or long-term), exchange rates, prepayment rates, equity rates or credit ratings/spreads. In addition, the Company has entered into coinsurance with funds withheld arrangements, which contain embedded derivatives. The Company utilizes derivative contracts mainly to hedge exposure to variability in cash flows, interest rate risk, credit risk, foreign exchange risk and equity market risk. The majority of derivatives used by the Company are designated as product hedges, which hedge the exposure arising from insurance liabilities or guarantees embedded in the contracts the Company offers through various product lines. The Company also uses derivatives contracts to hedge its exposure to various risks associated with the investment portfolio. The Company also uses credit default swaps coupled with other investments in order to produce the investment characteristics of otherwise permissible investments. Based on the notional amounts, a substantial portion of the Company’s derivative positions was not designated or did not qualify for hedge accounting as part of a hedging relationship as outlined in ASC Topic 815 as of March 31, 2024 and December 31, 2023.
Income Tax	The Company uses the estimated annual effective tax rate method in computing its interim tax provision. Certain items, including changes in the realizability of deferred tax assets and changes in liabilities for uncertain tax positions, are excluded from the estimated annual effective tax rate and the actual tax expense or benefit is reported in the period the related item is incurred.

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References + Details

Investments (excluding Consolidated Investment Entities) (Tables)

3 Months Ended

Mar. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Available-for-sale and fair value option ("FVO") fixed maturities were as follows as of March 31, 2024:


	Amortized Cost		Gross Unrealized Capital Gains		Gross Unrealized Capital Losses		Embedded Derivatives(2)		Allowance for credit losses		Fair Value
Fixed maturities:
U.S. Treasuries	$	424	$	3	$	26	$	—	$	—	$	401
U.S. Government agencies and authorities	54		2		1		—		—		55
State, municipalities and political subdivisions	785		—		104		—		—		681
U.S. corporate public securities	8,165		148		974		—		—		7,339
U.S. corporate private securities	5,046		37		363		—		—		4,720
Foreign corporate public securities and foreign governments(1)	2,797		41		273		—		2		2,563
Foreign corporate private securities(1)	2,845		20		152		—		1		2,712
Residential mortgage-backed securities	3,586		28		276		1		—		3,339
Commercial mortgage-backed securities	4,059		3		584		—		14		3,464
Other asset-backed securities	2,461		25		54		—		5		2,427
Total fixed maturities, including securities pledged	30,222		307		2,807		1		22		27,701
Less: Securities pledged	1,330		—		103		—		—		1,227
Total fixed maturities	$	28,892	$	307	$	2,704	$	1	$	22	$	26,474

(1) Primarily U.S. dollar denominated.

(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Net gains (losses) in the Condensed Consolidated Statements of Operations.

Available-for-sale and FVO fixed maturities were as follows as of December 31, 2023:


	Amortized Cost		Gross Unrealized Capital Gains		Gross Unrealized Capital Losses		Embedded Derivatives(2)		Allowance for credit losses		Fair Value
Fixed maturities:
U.S. Treasuries	$	417	$	7	$	21	$	—	$	—	$	403
U.S. Government agencies and authorities	54		3		1		—		—		56
State, municipalities and political subdivisions	871		1		101		—		—		771
U.S. corporate public securities	8,402		168		904		—		—		7,666
U.S. corporate private securities	5,040		44		324		—		—		4,760
Foreign corporate public securities and foreign governments(1)	2,928		47		270		—		3		2,702
Foreign corporate private securities(1)	2,916		27		129		—		2		2,812
Residential mortgage-backed securities	3,695		36		257		2		—		3,476
Commercial mortgage-backed securities	4,147		1		644		—		9		3,495
Other asset-backed securities	2,528		16		71		—		3		2,470
Total fixed maturities, including securities pledged	30,998		350		2,722		2		17		28,611
Less: Securities pledged	1,232		—		72		—		—		1,160
Total fixed maturities	$	29,766	$	350	$	2,650	$	2	$	17	$	27,451

(1) Primarily U.S. dollar denominated.

(2) Embedded derivatives within fixed maturity securities are reported with the host investment. The changes in fair value of embedded derivatives are reported in Net gains (losses) in the Condensed Consolidated Statements of Operations.

Investments Classified by Contractual Maturity Date

The amortized cost and fair value of fixed maturities, including securities pledged, as of March 31, 2024, are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called or prepaid. Mortgage-backed securities ("MBS") and Other asset-backed securities ("ABS") are shown separately because they are not due at a single maturity date.


	Amortized Cost		Fair Value
Due to mature:
One year or less	$	759	$	744
After one year through five years	3,796		3,654
After five years through ten years	3,744		3,600
After ten years	11,817		10,473
Mortgage-backed securities	7,645		6,803
Other asset-backed securities	2,461		2,427
Fixed maturities, including securities pledged	$	30,222	$	27,701

Schedule of Securities Pledged

The following table presents Securities pledged as of the dates indicated:


	March 31, 2024		December 31, 2023
Securities pledged/obligations under repurchase agreements(1)	$	114	$	117
Securities loaned to lending agent(2)	912		842
Securities pledged as collateral(2)(3)	201		201
Total	$	1,227	$	1,160

(1) Comprised of other asset-backed securities and included in Securities pledged and Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets.

(2) Included in Securities pledged on the Condensed Consolidated Balance Sheets.

(3) See Collateral within the Derivatives Note to these Condensed Consolidated Financial Statements for more information.

Schedule of Securities Borrowed Under Securities Lending Transactions

The following table presents collateral held by asset class that the Company pledged under securities lending as of the dates indicated:


	March 31, 2024		December 31, 2023
U.S. Treasuries	$	41	$	14

U.S. corporate public securities	613		568

Short-term investments	15		55

Foreign corporate public securities and foreign governments	273		238
Total(1)	$	942	$	875

(1) As of March 31, 2024 and December 31, 2023, liabilities to return cash collateral were $690 and $660, respectively, and included in Payables under securities loan and repurchase agreements, including collateral held on the Condensed Consolidated Balance Sheets.

Financing Receivable, Allowance for Credit Loss

The following tables presents a rollforward of the allowance for credit losses on available-for-sale fixed maturity securities for the periods presented:


	Three Months Ended March 31, 2024
	U.S. corporate public securities		Commercial mortgage-backed securities		Foreign corporate public securities and foreign governments		Foreign corporate private securities		Other asset-backed securities		Total
Balance as of January 1	$	—	$	9	$	3	$	2	$	3	$	17
Credit losses on securities for which credit losses were not previously recorded	—		5		—		—		1		6

Reductions for securities sold during the period	—		—		(1)		—		—		(1)


Increase (decrease) on securities with allowance recorded in previous period	—		—		—		(1)		1		—


Balance as of March 31	$	—	$	14	$	2	$	1	$	5	$	22


	Year Ended December 31, 2023
	U.S. corporate public securities		Commercial mortgage-backed securities		Foreign corporate public securities and foreign governments		Foreign corporate private securities		Other asset-backed securities		Total
Balance as of January 1	$	—	$	—	$	9	$	2	$	1	$	12
Credit losses on securities for which credit losses were not previously recorded	—		9		—		—		2		11

Reductions for securities sold during the period	—		—		(5)		—		—		(5)


Increase (decrease) on securities with allowance recorded in previous period	—		—		(1)		—		—		(1)


Balance as of December 31	$	—	$	9	$	3	$	2	$	3	$	17

For additional information about the Company’s methodology and significant inputs used in determining whether a credit loss exists, see the Business, Basis of Presentation and Significant Accounting Policies Note to the Consolidated Financial Statements in Part II, Item 8. of the Annual Report on Form 10-K.

Schedule of Unrealized Loss on Investments

The following tables present available-for-sale fixed maturities, including securities pledged, for which an allowance for credit losses has not been recorded by investment category and duration as of the dates indicated:


	As of March 31, 2024
	Twelve Months or Less Below Amortized Cost				More Than Twelve Months Below Amortized Cost	Total
	Fair Value		Unrealized Capital Losses			Fair Value		Unrealized Capital Losses		Fair Value		Unrealized Capital Losses
U.S. Treasuries	$	120	$	4		$	115	$	22	$	235	$	26
U.S. Government agencies and authorities	14		—			3		1		17		1
State, municipalities and political subdivisions	17		—			651		104		668		104
U.S. corporate public securities	347		23			4,875		951		5,222		974
U.S. corporate private securities	451		12			3,229		351		3,680		363
Foreign corporate public securities and foreign governments	144		2			1,613		271		1,757		273
Foreign corporate private securities	277		4			2,086		148		2,363		152
Residential mortgage-backed	189		4			1,321		272		1,510		276
Commercial mortgage-backed	21		1			3,242		583		3,263		584
Other asset-backed	82		1			460		53		542		54
Total	$	1,662	$	51		$	17,595	$	2,756	$	19,257	$	2,807


	As of December 31, 2023
	Twelve Months or Less Below Amortized Cost				More Than Twelve Months Below Amortized Cost	Total
	Fair Value		Unrealized Capital Losses			Fair Value		Unrealized Capital Losses		Fair Value		Unrealized Capital Losses
U.S. Treasuries	$	99	$	3		$	109	$	18	$	208	$	21
U.S. Government agencies and authorities	—		—			3		1		3		1
State, municipalities and political subdivisions	20		—			731		101		751		101
U.S. corporate public securities	321		17			5,101		887		5,422		904
U.S. corporate private securities	176		7			3,365		317		3,541		324
Foreign corporate public securities and foreign governments	82		2			1,749		268		1,831		270
Foreign corporate private securities	189		5			2,101		124		2,290		129
Residential mortgage-backed	114		3			1,354		254		1,468		257
Commercial mortgage-backed	84		2			3,269		642		3,353		644
Other asset-backed	136		3			1,156		68		1,292		71
Total	$	1,221	$	42		$	18,938	$	2,680	$	20,159	$	2,722

Mortgage Loans by Loan to Value Ratio

The following tables present commercial mortgage loans by year of origination and LTV ratio as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Loan-to-Value Ratios
Year of Origination	0% - 50%		>50% - 60%		>60% - 70%		>70% - 80%		>80% and above		Total
2024	$	69	$	33	$	—	$	—	$	—	$	102
2023	118		257		—		—		—		375
2022	252		324		73		—		—		649
2021	244		203		203		—		—		650
2020	177		98		—		—		16		291
Prior	2,726		288		18		—		19		3,051
Total	$	3,586	$	1,203	$	294	$	—	$	35	$	5,118


	As of December 31, 2023
	Loan-to-Value Ratios
Year of Origination	0% - 50%		>50% - 60%		>60% -70%		>70% - 80%		>80% and above		Total
2023	$	150	$	222	$	—	$	—	$	—	$	372
2022	252		326		73		—		—		651
2021	244		214		209		—		—		667
2020	168		112		—		10		16		306
2019	238		68		28		—		—		334
Prior	2,586		280		4		—		18		2,888
Total	$	3,638	$	1,222	$	314	$	10	$	34	$	5,218

Mortgage Loans by Debt Service Coverage Ratio

The following tables present commercial mortgage loans by year of origination and DSC ratio as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Debt Service Coverage Ratios
Year of Origination	>1.5x		>1.25x - 1.5x		>1.0x - 1.25x		<1.0x		Total*
2024	$	21	$	34	$	44	$	3	$	102
2023	157		151		67		—		375
2022	203		57		186		203		649
2021	259		14		56		321		650
2020	209		23		21		38		291
Prior	2,277		270		328		176		3,051
Total	$	3,126	$	549	$	702	$	741	$	5,118
*No commercial mortgage loans were secured by land or construction loans


	As of December 31, 2023
	Debt Service Coverage Ratios
Year of Origination	>1.5x		>1.25x - 1.5x		>1.0x - 1.25x		<1.0x		Total*
2023	$	189	$	116	$	67	$	—	$	372
2022	204		68		192		187		651
2021	260		14		64		329		667
2020	211		24		21		50		306
2019	203		26		84		21		334
Prior	2,216		264		255		153		2,888
Total	$	3,283	$	512	$	683	$	740	$	5,218

*No commercial mortgage loans were secured by land or construction loans

Mortgage Loans by Geographic Location of Collateral

The following tables present the commercial mortgage loans by year of origination and U.S. region as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	U.S. Region
Year of Origination	Pacific		South Atlantic		Middle Atlantic		West South Central		Mountain		East North Central		New England		West North Central		East South Central		Total
2024	$	4	$	43	$	22	$	13	$	12	$	—	$	6	$	2	$	—	$	102
2023	69		80		12		101		39		41		3		27		3		375
2022	140		132		47		98		113		93		5		1		20		649
2021	96		63		121		148		98		73		10		40		1		650
2020	63		152		17		10		12		15		—		7		15		291
Prior	761		680		716		219		257		164		59		155		40		3,051
Total	$	1,133	$	1,150	$	935	$	589	$	531	$	386	$	83	$	232	$	79	$	5,118


	As of December 31, 2023
	U.S. Region
Year of Origination	Pacific		South Atlantic		Middle Atlantic		West South Central		Mountain		East North Central		New England		West North Central		East South Central		Total
2023	$	69	$	77	$	12	$	101	$	39	$	42	$	3	$	26	$	3	$	372
2022	140		132		47		100		113		93		5		1		20		651
2021	96		63		124		148		111		75		9		40		1		667
2020	63		155		17		10		12		26		—		7		16		306
2019	53		100		10		74		45		4		14		13		21		334
Prior	734		605		765		189		214		171		47		144		19		2,888
Total	$	1,155	$	1,132	$	975	$	622	$	534	$	411	$	78	$	231	$	80	$	5,218

Mortgage Loans by Property Type of Collateral

The following tables present the commercial mortgage loans by year of origination and property type as of the dates indicated. The information is updated as of March 31, 2024 and December 31, 2023, respectively.


	As of March 31, 2024
	Property Type
Year of Origination	Retail		Industrial		Apartments		Office		Hotel/Motel		Other		Mixed Use		Total
2024	$	19	$	71	$	12	$	—	$	—	$	—	$	—	$	102
2023	125		167		33		18		32		—		—		375
2022	79		262		254		34		10		10		—		649
2021	36		141		335		111		—		18		9		650
2020	56		49		72		114		—		—		—		291
Prior	712		816		750		493		70		161		49		3,051
Total	$	1,027	$	1,506	$	1,456	$	770	$	112	$	189	$	58	$	5,118


	As of December 31, 2023
	Property Type
Year of Origination	Retail		Industrial		Apartments		Office		Hotel/Motel		Other		Mixed Use		Total
2023	$	125	$	164	$	33	$	18	$	32	$	—	$	—	$	372
2022	79		263		255		34		10		10		—		651
2021	36		145		335		123		—		18		10		667
2020	57		49		72		128		—		—		—		306
2019	45		82		160		36		11		—		—		334
Prior	780		755		618		463		60		163		49		2,888
Total	$	1,122	$	1,458	$	1,473	$	802	$	113	$	191	$	59	$	5,218

Allowance for Credit Losses on Financing Receivables

The following table summarizes the activity in the allowance for losses for commercial mortgage loans for the periods indicated:


	March 31, 2024		December 31, 2023
Allowance for credit losses, beginning of period	$	26	$	18
Credit losses on mortgage loans for which credit losses were not previously recorded	—		2

Increase (decrease) on mortgage loans with an allowance recorded in a previous period	—		9
Provision for expected credit losses	26		29
Write-offs	—		(3)
Recoveries of amounts previously written-off	—		—
Allowance for credit losses, end of period	$	26	$	26

Financing Receivable, Past Due

The following table presents past due commercial mortgage loans as of the dates indicated:


	March 31, 2024		December 31, 2023
Delinquency:
Current	$	5,083	$	5,202
30-59 days past due	19		—
60-89 days past due	—		—
Greater than 90 days past due	16		16
Total	$	5,118	$	5,218

Net Investment Income

The following table summarizes Net investment income by investment type for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Fixed maturities		$	416	$	458
Equity securities		5		7
Mortgage loans on real estate		61		61
Policy loans		6		6
Short-term investments and cash equivalents		10		9
Limited partnerships and other		48		22
Gross investment income		546		563
Less: Investment expenses		17		18
Net investment income		$	529	$	545

Realized Gain (Loss) on Investments

Net gains (losses) were as follows for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Fixed maturities, available-for-sale, including securities pledged		$	(20)	$	1
Fixed maturities, at fair value option		(81)		36

Equity securities, at fair value		3		(2)
Derivatives		136		(54)
Embedded derivatives - fixed maturities		(1)		1
Other derivatives		1		—
Standalone derivatives		1		—
Managed custody guarantees		1		3

Mortgage loans		1		—
Other investments		2		(1)
Net gains (losses)		$	43	$	(16)

Gain (Loss) on Investments

Proceeds from the sale of fixed maturities, available-for-sale and equity securities and the related gross realized gains and losses, before tax, were as follows for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Proceeds on sales		$	829	$	1,306
Gross gains		11		20
Gross losses		27		25

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The notional amounts and fair values of derivatives were as follows as of the dates indicated:


	March 31, 2024						December 31, 2023
	Notional Amount		Asset Fair Value		Liability Fair Value		Notional Amount		Asset Fair Value		Liability Fair Value
Derivatives: Qualifying for hedge accounting(1)
Fair value hedges:
Foreign exchange contracts	$	100	$	1	$	—	$	98	$	—	$	4

Cash flow hedges:
Interest rate contracts	12		—		—		12		—		—
Foreign exchange contracts	718		38		5		718		33		7
Derivatives: Non-qualifying for hedge accounting(1)
Interest rate contracts	17,133		330		318		16,773		270		354
Foreign exchange contracts	160		1		1		183		4		2
Equity contracts	285		8		3		255		4		2
Credit contracts	177		—		5		137		—		2
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments(2)	N/A		1		—		N/A		2		—

Within reinsurance agreements(4)	N/A		59		47		N/A		61		49
Managed custody guarantees(3)	N/A		—		7		N/A		—		8
Stabilizers(3)	N/A		—		1		N/A		—		1
Total			$	438	$	387			$	374	$	429

(1) Open derivative contracts are reported as Derivatives assets or liabilities at fair value on the Condensed Consolidated Balance Sheets.

(2) Included in Fixed maturities, available-for-sale, at fair value on the Condensed Consolidated Balance Sheets.

(3) Included in Contract owner account balances on the Condensed Consolidated Balance Sheets.

(4) Included in Other liabilities, Other assets and Premium receivable and reinsurance recoverable on the Condensed Consolidated Balance Sheets.

N/A - Not applicable

Offsetting Assets and Liabilities

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The location and effect of derivatives qualifying for hedge accounting on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income are as follows for the periods indicated:


	2024				2023
	Interest Rate Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Foreign Exchange Contracts
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Net investment income		Net investment income and Net gains/(losses)		Net investment income		Net investment income and Net gains/(losses)
Three Months Ended March 31,
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$	—	$	8	$	—	$	(12)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	—		3		—		3

The location and amount of gain (loss) recognized in the Condensed Consolidated Statements of Operations for derivatives qualifying for hedge accounting are as follows for the periods indicated:


	2024				2023
	Net investment income		Net gains/ (losses)		Net investment income		Net gains/ (losses)










Three Months Ended March 31,
Total amounts of line items presented in the statements of operations in which the effects of fair value or cash flow hedges are recorded	$	529	$	43	$	545	$	(16)
Fair value hedges:
Foreign exchange contracts:
Hedged items	—		(2)		—		2
Derivatives designated as hedging instruments(1)	—		3		—		(1)
Cash flow hedges:


Foreign exchange contracts:
Gain (loss) reclassified from accumulated other comprehensive income into income	3		—		3		—

(1) For the three months ended March 31, 2024 and 2023, $1 of the change in derivative instruments designated and qualifying as fair value hedges was excluded from the assessment of hedge effectiveness and recognized currently in earning.

The location and effect of derivatives not designated as hedging instruments on the Condensed Consolidated Statements of Operations are as follows for the periods indicated:


	Location of Gain (Loss) Recognized on Derivative	Three Months Ended March 31,
		2024		2023
Derivatives: Non-qualifying for hedge accounting
Interest rate contracts	Net gains (losses)	$	126	$	(56)
Foreign exchange contracts	Net gains (losses)	(2)		1
Equity contracts	Net gains (losses)	10		3
Credit contracts	Net gains (losses)	(1)		(1)
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments	Net gains (losses)	(1)		1
Within reinsurance agreements(1)	Policyholder benefits	—		(26)
Managed custody guarantees	Net gains (losses)	1		3

Total		$	133	$	(75)

(1) For the three months ended March 31, 2024, the amount excluded gains (losses) of $1 from standalone derivatives recognized in Net gains (losses). For the three months ended March 31, 2023, the amount excluded immaterial gains (losses) from standalone derivatives recognized in Net gains (losses).

Fair Value Measurements (excluding Consolidated Investment Entities) (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of March 31, 2024:


	Level 1		Level 2			Level 3			Total
Assets:
Fixed maturities, including securities pledged:
U.S. Treasuries	$	302	$	99		$	—		$	401
U.S. Government agencies and authorities	—		54			1			55
State, municipalities and political subdivisions	—		681			—			681
U.S. corporate public securities	—		7,321			18			7,339
U.S. corporate private securities	—		3,265			1,455			4,720
Foreign corporate public securities and foreign governments(1)	—		2,563			—			2,563
Foreign corporate private securities(1)	—		2,264			448			2,712
Residential mortgage-backed securities	—		3,286			52			3,338
Commercial mortgage-backed securities	—		3,465			—			3,465
Other asset-backed securities	—		2,372			55			2,427
Total fixed maturities, including securities pledged	302		25,370			2,029			27,701

Equity securities	120		—			99			219
Derivatives:
Interest rate contracts	1		329			—			330
Foreign exchange contracts	—		40			—			40
Equity contracts	—		8			—			8

Embedded derivative on reinsurance	—		59			—			59
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,169		16			—			2,185
Assets held in separate accounts	92,585		5,691			360			98,636
Total assets	$	95,177	$	31,513		$	2,488		$	129,178
Liabilities:
Contingent consideration	$	—	$	—		$	48		$	48
Stabilizer and MCGs	—		—			8			8
Derivatives:
Interest rate contracts	1		317			—			318
Foreign exchange contracts	—		6			—			6
Equity contracts	—		3			—			3
Credit contracts	—		5			—			5
Embedded derivative on reinsurance	—		(10)		(2)	57		(3)	47
Total liabilities	$	1	$	321		$	113		$	435

(1) Primarily U.S. dollar denominated.

(2) The Company classifies the embedded derivative within liabilities given the underlying nature of the balance and the right-of-offset.

(3) Represents the standalone derivative.

The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of December 31, 2023:


	Level 1		Level 2			Level 3			Total
Assets:
Fixed maturities, including securities pledged:
U.S. Treasuries	$	346	$	57		$	—		$	403
U.S. Government agencies and authorities	—		55			1			56
State, municipalities and political subdivisions	—		771			—			771
U.S. corporate public securities	—		7,648			18			7,666
U.S. corporate private securities	—		3,234			1,526			4,760
Foreign corporate public securities and foreign governments(1)	—		2,702			—			2,702
Foreign corporate private securities(1)	—		2,376			436			2,812
Residential mortgage-backed securities	—		3,419			57			3,476
Commercial mortgage-backed securities	—		3,495			—			3,495
Other asset-backed securities	—		2,418			52			2,470
Total fixed maturities, including securities pledged	346		26,175			2,090			28,611
Equity securities	140		—			96			236
Derivatives:
Interest rate contracts	7		263			—			270
Foreign exchange contracts	—		37			—			37
Equity contracts	—		4			—			4

Embedded derivative on reinsurance	—		61			—			61
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,148		17			—			2,165
Assets held in separate accounts	87,180		5,605			348			93,133
Total assets	$	89,821	$	32,162		$	2,534		$	124,517
Liabilities:
Contingent consideration	$	—	$	—		$	51		$	51
Stabilizer and MCGs	—		—			9			9
Derivatives:
Interest rate contracts	—		354			—			354
Foreign exchange contracts	—		13			—			13
Equity contracts	—		2			—			2
Credit contracts	—		2			—			2
Embedded derivative on reinsurance	—		(9)		(2)	58		(3)	49
Total liabilities	$	—	$	362		$	118		$	480

(1) Primarily U.S. dollar denominated.

(2) The Company classifies the embedded derivative within liabilities given the underlying nature of the balance and the right-of-offset.

(3) Represents the standalone derivative.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables summarize the change in fair value of the Company's Level 3 assets and liabilities and transfers in and out of Level 3 for the periods indicated:


	Three Months Ended March 31, 2024
	Fair Value as of January 1		Realized/Unrealized Gains (Losses) Included in:				Purchases		Issuances		Sales		Settlements		Transfers into Level 3		Transfers out of Level 3		Fair Value as of March 31		Change In Unrealized Gains (Losses) Included in Earnings(3)		Change In Unrealized Gains (Losses) Included in OCI(3)
			Net Income		OCI
Fixed maturities, including securities pledged:
U.S. Government agencies and authorities	$	1	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	—
U.S. corporate public securities	18		—		—		—		—		—		—		—		—		18		—		—
U.S. corporate private securities	1,526		—		(15)		67		—		(9)		(79)		—		(35)		1,455		—		(19)

Foreign corporate private securities(1)	436		—		(4)		—		—		—		(35)		51		—		448		—		(4)
Residential mortgage-backed securities	57		(1)		—		—		—		—		—		—		(4)		52		(1)		—

Other asset-backed securities	52		—		—		5		—		—		(2)		—		—		55		—		—
Total fixed maturities, including securities pledged	2,090		(1)		(19)		72		—		(9)		(116)		51		(39)		2,029		(1)		(23)

Equity securities, at fair value	96		3		—		—		—		—		—		—		—		99		2		—
Contingent consideration	(51)		1		—		—		—		—		2		—		—		(48)		—		—

Stabilizer and MCGs(2)	(9)		2		—		—		(1)		—		—		—		—		(8)		—		—

Embedded derivatives on reinsurance	(58)		1		—		—		—		—		—		—		—		(57)		—		—

Assets held in separate accounts(4)	348		—		—		16		—		(3)		—		5		(6)		360		—		—

(1) Primarily U.S. dollar denominated.

(2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract by contract basis. These amounts are included in Net gains (losses) in the Condensed Consolidated Statements of Operations.

(3) For financial instruments still held as of March 31 amounts are included in Net investment income and Net gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income.

(4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company.



	Three Months Ended March 31, 2023
	Fair Value as of January 1		Realized/Unrealized Gains (Losses) Included in:				Purchases		Issuances		Sales		Settlements		Transfers into Level 3		Transfers out of Level 3		Fair Value as of March 31		Change In Unrealized Gains (Losses) Included in Earnings(3)		Change In Unrealized Gains (Losses) Included in OCI(3)
			Net Income		OCI
Fixed maturities, including securities pledged:
U.S. Government agencies and authorities	$	1	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	—	$	—
U.S. corporate public securities	$	20	$	—	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	21	$	—	$	—
U.S. corporate private securities	1,801		1		34		40		—		—		(76)		—		—		1,800		1		34
Foreign corporate public securities and foreign governments(1)	3		—		—		—		—		—		—		—		(3)		—		—		—
Foreign corporate private securities(1)	432		1		4		57		—		—		(53)		—		—		441		1		4
Residential mortgage-backed securities	28		—		—		28		—		—		—		—		—		56		—		—

Other asset-backed securities	64		—		1		34		—		—		(1)		—		(21)		77		—		1
Total fixed maturities, including securities pledged	2,349		2		39		160		—		—		(130)		—		(24)		2,396		2		39

Equity securities, at fair value	196		(4)		—		—		—		—		—		—		—		192		(3)		—
Contingent consideration	(112)		—		—		—		—		—		—		—		—		(112)		—		—

Stabilizer and MCGs(2)	(6)		4		—		—		(1)		—		—		—		—		(3)		—		—

Embedded derivatives on reinsurance	(58)		—		—		—		—		—		—		—		—		(58)		—		—

Assets held in separate accounts(4)	347		4		—		—		—		(2)		—		—		—		349		—		—

(1) Primarily U.S. dollar denominated.

(2) All gains and losses on Level 3 liabilities are classified as realized gains (losses) for the purpose of this disclosure because it is impracticable to track realized and unrealized gains (losses) separately on a contract by contract basis. These amounts are included in Net gains (losses) in the Condensed Consolidated Statements of Operations.

(3) For financial instruments still held as of March 31 amounts are included in Net investment income and Net gains (losses) in the Condensed Consolidated Statements of Operations or Unrealized gains (losses) on securities in the Condensed Consolidated Statements of Comprehensive Income.

(4) The investment income and realized gains (losses) and change in unrealized gains (losses) included in net income for separate account assets are offset by an equal amount for separate account liabilities, which results in a net zero impact on Net income (loss) for the Company.

Fair Value, by Balance Sheet Grouping

The carrying values and estimated fair values of the Company's financial instruments as of the dates indicated:


	March 31, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturities, including securities pledged	$	27,701	$	27,701	$	28,611	$	28,611
Equity securities	219		219		236		236
Mortgage loans on real estate	5,118		4,831		5,218		4,941
Policy loans	349		349		352		352
Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185		2,185		2,165		2,165
Derivatives	378		378		311		311
Embedded derivatives on reinsurance	59		59		61		61
Other investments	64		64		64		64
Assets held in separate accounts	98,636		98,636		93,133		93,133
Liabilities:
Investment contract liabilities:
Funding agreements without fixed maturities and deferred annuities(1)	$	32,196	$	33,978	$	32,848	$	34,856
Funding agreements with fixed maturities	1,200		1,206		1,175		1,178
Supplementary contracts, immediate annuities and other	607		545		628		571

Stabilizer and MCGs	8		8		9		9
Derivatives	332		332		371		371
Embedded derivative on reinsurance	47		47		49		49
Short-term debt	393		387		1		1
Long-term debt	1,707		1,617		2,097		1,998

(1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Stabilizer and MCGs section of the table above.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2024:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	180	$	—	$	—	$	—	$	180
Corporate loans	—		1,500		—		—		1,500
Limited partnerships/corporations	—		—		—		2,881		2,881
VOE
Cash and cash equivalents	1		—		—		—		1

Other investments(1)	—		—		—		24		24

Total assets	$	181	$	1,500	$	—	$	2,905	$	4,586
Liabilities
VIEs
CLO notes	$	—	$	1,368	$	—	$	—	$	1,368
Total liabilities	$	—	$	1,368	$	—	$	—	$	1,368
(1) VOE - Other investments are reflected in Assets related to consolidated investment entities - Other assets on the Company's Condensed Consolidated Balance Sheets.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2023:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	181	$	—	$	—	$	—	$	181
Corporate loans	—		1,404		—		—		1,404
Limited partnerships/corporations	—		—		—		2,861		2,861





Total assets	$	181	$	1,404	$	—	$	2,861	$	4,446
Liabilities
VIEs
CLO notes	$	—	$	1,332	$	—	$	—	$	1,332
Total liabilities	$	—	$	1,332	$	—	$	—	$	1,332

Financial Instruments Not Carried at Fair Value

he following table presents the classification of financial instruments which are not carried at fair value on the Condensed Consolidated Balance Sheets:


Financial Instrument			Classification
Mortgage loans on real estate			Level 3
Policy loans			Level 2


Other investments			Level 2
Funding agreements without fixed maturities and deferred annuities			Level 3
Funding agreements with fixed maturities			Level 2
Supplementary contracts and immediate annuities			Level 3
Short-term debt and Long-term debt			Level 2

Deferred Policy Acquisition Costs and Value of Business Acquired (Tables)

3 Months Ended

Mar. 31, 2024

Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]

Deferred Policy Acquisition Costs and Value of Business Acquired

The following table presents a rollforward of deferred policy acquisition costs ("DAC") and value of business acquired ("VOBA") for the periods indicated:



	DAC						VOBA (1)
	Wealth Solutions Deferred and Individual Annuities		Health Solutions Group		Businesses exited
Balance as of January 1, 2023	$	691	$	144	$	1,043	$	439
Deferrals of commissions and expenses	59		49		—		4
Amortization expense	(55)		(29)		(105)		(37)
Balance as of December 31, 2023	$	695	$	164	$	938	$	406
Deferrals of commissions and expenses	16		12		—		1
Amortization expense	(14)		(8)		(26)		(9)
Balance as of March 31, 2024	$	697	$	168	$	912	$	398

(1)There was no loss recognition related to VOBA during the periods presented.

The following table shows a reconciliation of DAC and VOBA balances to the Condensed Consolidated Balance Sheets for the periods indicated:


	March 31, 2024		December 31, 2023
DAC:
Wealth Solutions Deferred and Individual Annuities	$	697	$	695
Health Solutions Group	168		164
Businesses exited	912		938
Other	47		47
VOBA	398		406
Total	$	2,222	$	2,250

Reserves for Future Policy Benefits and Contract Owner Account Balances (Tables)

3 Months Ended

Mar. 31, 2024

Reserves for Future Policy Benefits and Contract Owner Balances [Abstract]

Liability for Future Policy Benefit, Activity

The following tables present the balances and changes in the liability for future policy benefits for Health Solutions Group, Health Solutions Voluntary and Businesses Exited as of March 31, 2024 and December 31, 2023.


	Health Solutions Group				Health Solutions Voluntary				Businesses Exited
	2024		2023		2024		2023		2024		2023
Present Value of Expected Net Premiums:
Balance at January 1	$	68	$	77	$	101	$	97	$	3,145	$	4,244
Beginning balance at original discount rate	71		84		102		100		2,992		4,128
Effect of change in cash flow assumptions	—		(6)		—		6		—		(921)
Effect of actual variances from expected experience	15		11		3		8		(93)		(91)
Adjusted balance at January 1	86		89		105		114		2,899		3,116
Interest accrual	1		2		1		4		41		196
Net premiums collected(1)	(5)		(20)		(4)		(16)		(79)		(320)
Ending balance at original discount rate	82		71		102		102		2,861		2,992
Effects of changes in discount rate assumptions	(5)		(3)		(3)		(1)		81		153
Balance at end of period	$	77	$	68	$	99	$	101	$	2,942	$	3,145


Present Value of Expected Future Policy Benefits:
Balance at January 1	$	899	$	881	$	307	$	285	$	7,538	$	8,639
Beginning balance at original discount rate	918		913		307		294		7,404		8,644
Effect of change in cash flow assumptions	17		(8)		1		13		—		(805)
Effect of actual variances from expected experience	8		(16)		4		9		(115)		(123)
Adjusted balance at January 1	943		889		312		316		7,289		7,716
Issuances	32		136		—		—		6		17
Interest accrual	6		24		4		14		95		412
Benefit payments	(36)		(131)		(8)		(23)		(173)		(741)
Ending balance at original discount rate	945		918		308		307		7,217		7,404
Effects of changes in discount rate assumptions	(29)		(19)		(10)		—		(19)		134
Balance at end of period	$	916	$	899	$	298	$	307	$	7,198	$	7,538


Net liability for future policy benefits	$	839	$	831	$	199	$	206	$	4,256	$	4,392
Less: Reinsurance recoverable	320		315		—		—		4,208		4,342
Net liability for future policy benefits, after reinsurance recoverable	$	519	$	516	$	199	$	206	$	48	$	50

(1) Net Premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected benefit payments.

The reconciliation of the net liability for future policy benefits to the liability for future policy benefits in the Condensed Consolidated Balance Sheets is presented below:


	March 31, 2024		December 31, 2023
Health Solutions Group	$	839	$	831
Health Solutions Voluntary	199		206
Businesses Exited - Future policy benefits	4,256		4,392
Businesses Exited – Additional liability	1,978		2,001
Business Exited - Other	1,334		1,335
Other (1)	821		795
Total	$	9,427	$	9,560

(1) Primarily consists of short duration contracts.

The amount of undiscounted expected gross premiums and future benefit payments is presented in the table below:


	March 31, 2024				December 31, 2023
	Undiscounted		Discounted		Undiscounted		Discounted
Health Solutions Group
Expected future benefit payments	$	1,176	$	945	$	1,144	$	918
Expected future gross premiums	281		209		271		214
Health Solutions Voluntary
Expected future benefit payments	671		308		668		307
Expected future gross premiums	343		214		341		213

The following table presents a rollforward of the additional reserve liability for Businesses exited for the periods indicated:


	Businesses exited
	March 31, 2024		December 31, 2023
Balance at beginning of period	$	2,001	$	2,107
Effect of change in cash flow assumptions	—		(44)
Effect of actual variances from expected experience	20		(100)
Adjusted balance at January 1	2,021		1,963
Interest accrual	21		84
Excess Benefits	(107)		(417)
Assessments	43		371
Balance at end of period	1,978		2,001
Less: Reinsurance recoverable	1,927		1,950
Net additional liability, after reinsurance recoverable	$	51	$	51

The following table presents the weighted average duration of the liability for future policy benefits and the weighted average interest rates for the periods indicated:


	Health Solutions Group				Health Solutions Voluntary				Businesses Exited
	March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023		March 31, 2024		December 31, 2023
Weighted average duration (in years)(1)	7		7		15		14		8		8
Interest accretion rate	4.0	%	4.0	%	5.2	%	5.2	%	4.9	%	4.9	%
Current discount rate	5.2	%	4.9	%	5.5	%	5.1	%	5.4	%	5.1	%

Reinsurance (Tables)

3 Months Ended

Mar. 31, 2024

Insurance [Abstract]

Effects of Reinsurance

Information regarding the effect of reinsurance on the Condensed Consolidated Balance Sheets is as follows as of the periods indicated:


	March 31, 2024
	Direct		Assumed		Ceded		Total, Net of Reinsurance
Assets
Premiums receivable	$	252	$	12	$	(248)	$	16
Reinsurance recoverable, net of allowance for credit losses	—		—		11,812		11,812
Total	$	252	$	12	$	11,564	$	11,828

Liabilities
Future policy benefits and contract owner account balances	$	46,936	$	933	$	—	$	47,869
Liability for funds withheld under reinsurance agreements	107		—		—		107
Total	$	47,043	$	933	$	—	$	47,976



	December 31, 2023
	Direct		Assumed		Ceded		Total, Net of Reinsurance
Assets
Premiums receivable	$	193	$	9	$	(219)	$	(17)
Reinsurance recoverable, net of allowance for credit losses	—		—		11,999		11,999
Total	$	193	$	9	$	11,780	$	11,982

Liabilities
Future policy benefits and contract owner account balances	$	47,781	$	953	$	—	$	48,734
Liability for funds withheld under reinsurance agreements	103		—		—		103
Total	$	47,884	$	953	$	—	$	48,837

Information regarding the effect of reinsurance on the Condensed Consolidated Statements of Operations is as follows for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Premiums:
Direct premiums	$	1,029	$	908
Reinsurance assumed	7		10
Reinsurance ceded	(236)		(233)
Net premiums	$	800	$	685

Fee income:
Gross fee income	$	608	$	562
Reinsurance assumed	4		4
Reinsurance ceded	(99)		(102)
Net fee income	$	513	$	464

Interest credited and other benefits to contract owners / policyholders:
Direct interest credited and other benefits to contract owners / policyholders	$	1,181	$	1,108
Reinsurance assumed	19		19
Reinsurance ceded	(349)		(376)
Net interest credited and other benefits to contract owners / policyholders	$	851	$	751

Separate Accounts (Tables)

3 Months Ended

Mar. 31, 2024

Other Liabilities Disclosure [Abstract]

Separate Account, Liability

The following tables present a rollforward of separate account liabilities for the Wealth Solutions stabilizer and deferred annuity business, including a reconciliation to the Condensed Consolidated Balance Sheets, for the periods indicated:


	March 31, 2024						December 31, 2023
	Wealth Solutions Stabilizer		Wealth Solutions Deferred Annuity		Total		Wealth Solutions Stabilizer		Wealth Solutions Deferred Annuity		Total
Balance at January 1	$	7,175	$	82,310	$	89,485	$	7,196	$	69,152	$	76,348
Premiums and deposits	281		2,586		2,867		940		10,052		10,992
Fee income	(8)		(116)		(124)		(34)		(426)		(460)
Surrenders, withdrawals and benefits	(379)		(2,969)		(3,348)		(1,342)		(9,631)		(10,973)
Net transfers (from) to the separate account	—		(392)		(392)		—		(518)		(518)
Investment performance	—		6,241		6,241		415		13,681		14,096
Balance at end of period	$	7,069	$	87,660	$	94,729	$	7,175	$	82,310	$	89,485

Reconciliation to Condensed Consolidated Balance Sheets:
Other					3,907						3,648
Total Separate Account liabilities					$	98,636					$	93,133

Fair Value, Separate Account Investment

The aggregate fair value of assets, by major investment asset category, supporting separate accounts was as follows for the periods indicated:


	March 31, 2024		December 31, 2023
U.S. Treasury securities and obligations of U.S. government corporations and agencies	$	902	$	1,015

Corporate and foreign debt securities	2,688		2,528

Mortgage-backed securities	3,191		3,231
Equity securities (including mutual funds)	91,493		85,916

Cash, cash equivalents and short-term investments	289		399
Receivable for securities and accruals	73		44
Total	$	98,636	$	93,133

Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Earnings Before Income Taxes from Segments to Consolidated

The summary below reconciles Adjusted operating earnings before income taxes for the segments to Income (loss) before income taxes for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Adjusted operating earnings before income taxes by segment:
Wealth Solutions	$	186	$	132
Health Solutions	59		94
Investment Management	53		42
Corporate	(64)		(69)
Total including Allianz noncontrolling interest	235		200
Less: Earning (loss) attributable to Allianz noncontrolling interest	11		8
Total	$	224	$	192

Adjustments:
Net investment gains (losses)	63		(9)


Income (loss) related to businesses exited or to be exited through reinsurance or divestment	(32)		(33)
Income (loss) attributable to noncontrolling interests	37		46


Dividend payments made to preferred shareholders	17		14
Other adjustments	(22)		(70)
Total adjustments to income (loss) before income taxes	63		(51)

Income (loss) before income taxes	$	287	$	141

Reconciliation of Revenue from Segments to Total Revenues

The summary below reconciles Adjusted operating revenues for the segments to Total revenues for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Adjusted operating revenues by segment:
Wealth Solutions		$	719	$	684
Health Solutions		905		774
Investment Management		234		229
Corporate		4		11
Total		$	1,863	$	1,697

Adjustments:
Net investment gains (losses)		$	47	$	(14)


Revenues related to businesses exited or to be exited through reinsurance or divestment		24		30
Revenues attributable to noncontrolling interests		65		60
Other adjustments		52		60
Total adjustments to revenues		188		137

Total revenues		$	2,051	$	1,835

Schedule of Intersegment Revenues Included in Investment Management Segment

The Investment Management segment revenues include the following intersegment revenues, primarily consisting of asset-based management and administration fees for the periods indicated:


	Three Months Ended March 31,
		2024		2023
Investment Management intersegment revenues		$	20	$	22

Summary of Financial Information for Segments

The summary below presents Total assets for the Company’s segments as of the dates indicated:


	March 31, 2024		December 31, 2023
Wealth Solutions	$	126,883	$	122,318
Health Solutions	3,395		3,336
Investment Management	1,656		1,600
Corporate	25,418		25,527
Total assets, before consolidation(1)	157,352		152,781
Consolidation of investment entities	4,279		4,304


Total assets	$	161,631	$	157,085

(1) Total assets, before consolidation include the Company's direct investments in CIEs prior to consolidation, which are accounted for using the equity method or fair value option.

Share-based Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

The following table summarizes share-based compensation expense, which includes expenses related to awards granted under the Omnibus Plans for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Restricted Stock Unit (RSU) awards	$	23	$	37
Performance Stock Unit (PSU) awards	16		26


Total share-based compensation expense	39		63
Income tax benefit	10		15
After-tax share-based compensation expense	$	29	$	48

Schedule of Share-based Compensation, Activity

The following table summarizes RSU and PSU awards activity under the Omnibus Plans for the periods indicated:


	RSU Awards				PSU Awards
(awards in millions)	Number of Awards		Weighted Average Grant Date Fair Value			Number of Awards		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024	2.0		$	67.06		2.2		$	61.17
Adjustment for PSU performance factor	—		—			(0.1)		46.94
Granted	0.8		67.51			0.7		59.21
Vested	(0.7)		65.20			(0.5)		52.71
Forfeited	—	*	69.87			—	*	44.96
Outstanding as of March 31, 2024	2.1		$	67.69		2.3		$	63.57

*Less than 0.1

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes the number of options under the Omnibus Plans for the periods indicated:


	Stock Options
(awards in millions)	Number of Awards		Weighted Average Exercise Price
Outstanding as of January 1, 2024	1.2		$	44.79

Granted	—		—
Exercised	—	*	47.48
Forfeited	—		—
Outstanding as of March 31, 2024	1.2		$	44.68

Vested, exercisable, as of March 31, 2024	1.2		$	44.68

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Common Stock Outstanding Roll Forward

The following table presents the rollforward of common shares used in calculating the weighted average shares utilized in the basic earnings per common share calculation for the periods indicated:


	Common Shares

(shares in millions)	Issued		Held in Treasury	Outstanding
Balance, January 1, 2023	97.8		0.6	97.2
Common shares issued	9.7		—	9.7
Common shares acquired - share repurchase	—		5.4	(5.4)
Share-based compensation	2.1		0.7	1.4
Treasury stock retirement	(6.0)		(6.0)	—
Balance, December 31, 2023	103.6		0.7	102.9
Common shares issued	—	*	—	—
Common shares acquired - share repurchase	—		2.4	(2.4)
Share-based compensation	1.3		0.5	0.8
Balance, March 31, 2024	104.9		3.6	101.3

*Less than 0.1

Schedule of Dividends Declared

Dividends declared per share of Common Stock were as follows for the periods indicated:


	Three Months Ended March 31,
	2024		2023
Dividends declared per share of Common Stock	$	0.40	$	0.20

The declaration of dividends on preferred stock per share and in the aggregate were as follows for the periods indicated:


	Series A				Series B
Three Months Ended March 31,	Per Share		Aggregate		Per Share		Aggregate
2024	$	38.790	$	13	$	13.375	$	4
2023	30.625		10		13.375		4

Schedule of Preferred Stock Issued and Outstanding

Preferred stock issued and outstanding are as follows:


	March 31, 2024		December 31, 2023
Series	Issued	Outstanding	Issued	Outstanding
7.758% Non-cumulative Preferred Stock, Series A	325,000	325,000	325,000	325,000
5.35% Non-cumulative Preferred Stock, Series B	300,000	300,000	300,000	300,000
Total	625,000	625,000	625,000	625,000

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents a reconciliation of Net income (loss) and shares used in calculating basic and diluted net income (loss) per common share for the periods indicated:


	Three Months Ended March 31,
(in millions, except for per share data)	2024		2023
Earnings
Net income (loss) available to common shareholders:
Net income (loss)	$	288	$	129
Less: Preferred stock dividends	17		14
Less: Net income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	37		46


Net income (loss) available to common shareholders	$	234	$	69

Weighted average common shares outstanding
Basic	102.1		97.7
Dilutive Effects:
Warrants(1)	—		8.9
RSUs	1.2		1.2
PSUs	0.8		1.2
Stock Options	0.4		0.6
Diluted	104.5		109.6

Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share (2):


Basic	$	2.29	$	0.70



Diluted	$	2.24	$	0.63

(1) See the Shareholders' Equity Note to the Consolidated Financial Statements in Part II, Item 8. of the Company's Annual Report on Form 10-K for the year ended December 31, 2023 for additional information on warrants settled.

(2) Basic and diluted earnings per share are calculated using unrounded, actual amounts. Therefore, the components of earnings per share may not sum to its corresponding total. Diluted earnings per share is computed assuming the issuance of restricted stock units, stock options, performance share units and warrants using the treasury stock method.

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income

Shareholders' equity included the following components of Accumulated other comprehensive income ("AOCI") as of the dates indicated:


	March 31,
	2024		2023
Fixed maturities, net of impairment	$	(2,498)	$	(2,635)

Derivatives(1)	67		109





Change in current discount rate	(853)		(855)
Deferred income tax asset (liability)(2)	813		833
Total	(2,471)		(2,548)
Pension and other postretirement benefits liability, net of tax	2		3
AOCI	$	(2,469)	$	(2,545)

(1) Gains and losses reported in AOCI from hedge transactions that resulted in the acquisition of an identified asset are reclassified into earnings in the same period or periods during which the asset acquired affects earnings. As of March 31, 2024, the portion of the AOCI that is expected to be reclassified into earnings within the next 12 months is $14.

(2)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in AOCI, including the reclassification adjustments recognized in the Condensed Consolidated Statements of Operations, were as follows for the periods indicated:



	Three Months Ended March 31, 2024
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	(145)		$	30	$	(115)



Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	16			(3)		13



Change in unrealized gains (losses) on available-for-sale securities	(129)			27		(102)
Derivatives:
Derivatives	8		(1)	(2)		6
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(4)			1		(3)
Change in unrealized gains (losses) on derivatives	4			(1)		3

Change in current discount rate	38			(8)		30



Change in Accumulated other comprehensive income (loss)	$	(87)		$	18	$	(69)

(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information



	Three Months Ended March 31, 2023
	Before-Tax Amount			Income Tax (Benefit)		After-Tax Amount
Available-for-sale securities:
Fixed maturities	$	661		$	(139)	$	522



Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	(1)			—		(1)




Change in unrealized gains (losses) on available-for-sale securities	660			(139)		521
Derivatives:
Derivatives	(12)		(1)	3		(9)
Adjustments related to effective cash flow hedges for amounts recognized in Net investment income in the Condensed Consolidated Statements of Operations	(5)			1		(4)
Change in unrealized gains (losses) on derivatives	(17)			4		(13)

Change in current discount rate	2			—		2




Change in Accumulated other comprehensive income (loss)	$	645		$	(135)	$	510

(1) See the Derivative Financial Instruments Note to these Condensed Consolidated Financial Statements for additional information.

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Financial services and software subscriptions and services revenue is disaggregated by type of service in the following table:


	Three Months Ended March 31,
		2024		2023
Wealth Solutions:
Advisory and recordkeeping and administration		$	143	$	121
Distribution and shareholder servicing		34		29

Investment Management:
Advisory, asset management and recordkeeping and administration		242		229
Distribution and shareholder servicing		39		32

Health Solutions:
Recordkeeping and administration		5		6
Software subscriptions and services		54		47
Corporate:
Recordkeeping and administration		2		12


Total financial services and software subscriptions and services revenue		519		476
Revenue from other sources(1)		82		66
Total Fee income and Other revenue		$	601	$	542

(1) Primarily consists of revenue from insurance contracts and financial instruments.

Financing Agreements (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes the carrying value of the Company’s debt issued or borrowed and outstanding as of the periods indicated:


	Issuer	Maturity	March 31, 2024		December 31, 2023




3.976% Senior Notes, due 2025 (2)(3)	Voya Financial, Inc.	02/15/2025	$	393	$	390
3.65% Senior Notes, due 2026 (2)(3)	Voya Financial, Inc.	06/15/2026	445		446
5.7% Senior Notes, due 2043 (2)(3)	Voya Financial, Inc.	07/15/2043	396		396
4.8% Senior Notes, due 2046 (2)(3)	Voya Financial, Inc.	06/15/2046	297		297
4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048	Voya Financial, Inc.	01/23/2048	336		336


7.63% Voya Holdings Inc. debentures, due 2026(1)	Voya Holdings, Inc.	08/15/2026	139		139
6.97% Voya Holdings Inc. debentures, due 2036(1)	Voya Holdings, Inc.	08/15/2036	79		79
8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027	Equitable of Iowa Capital Trust II	04/01/2027	13		13


1.00% Windsor Property Loan	Voya Retirement Insurance and Annuity Company	06/14/2027	2		2



Subtotal			2,100		2,098
Less: Current portion of long-term debt			393		1
Total			$	1,707	$	2,097

(1) Guaranteed by ING Group.

(2) Interest is paid semi-annually in arrears.

(3) Guaranteed by Voya Holdings.

Schedule of Line of Credit Facilities

The following table summarizes the Company's credit facilities as of March 31, 2024:


($ in millions)
Obligor / Applicant	Business Supported	Secured / Unsecured	Committed / Uncommitted	Expiration	Capacity			Utilization			Unused Commitment
Voya Financial, Inc.	Other	Unsecured	Committed	05/01/2028	$	500		$	—		$	500

























Voya Financial, Inc.	Other	Unsecured	Committed	04/07/2025	12		(2)	12		(1)	—


Total					$	512		$	12		$	500

(1) Amount utilized as collateral for outstanding Aetna Notes.

(2) In March of 2024, the Company decreased the capacity of its letter of credit, expiring in 2025, from $200 to $12. This reduction was due to the reduced collateral requirements resulting from the maturity of a portion of the Aetna Notes. Additionally, the full capacity was not expected to be utilized through its expiration.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
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-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Restricted Assets

Restricted Assets

The Company is required to maintain assets on deposit with various regulatory authorities to support its insurance operations. The Company may also post collateral in connection with certain securities lending, repurchase agreements, funding agreements, credit facilities and derivative transactions. The components of the fair value of the restricted assets were as follows as of the dates indicated:


	March 31, 2024		December 31, 2023
Fixed maturity collateral pledged to FHLB(1)	$	1,803	$	1,956
FHLB restricted stock(2)	63		64
Fixed maturities-state and other deposits	37		37
Cash and cash equivalents	15		25
Securities pledged(3)	1,227		1,160
Total restricted assets	$	3,145	$	3,242

(1) Included in Fixed maturities, available for sale, at fair value on the Condensed Consolidated Balance Sheets.

(2) Included in Other investments on the Condensed Consolidated Balance Sheets.

(3) Includes the fair value of loaned securities of $912 and $842 as of March 31, 2024 and December 31, 2023, respectively. In addition, as of March 31, 2024 and December 31, 2023, the Company delivered securities as collateral of $201 and $201, respectively, and repurchase agreements of $114 and $117, respectively. Loaned securities and securities delivered as collateral are included in Securities pledged on the Condensed Consolidated Balance Sheets.

Consolidated and Nonconsolidated Investment Entities (Tables)

3 Months Ended

Mar. 31, 2024

Consolidated Investment Entities [Abstract]

Fair Value, by Balance Sheet Grouping

The carrying values and estimated fair values of the Company's financial instruments as of the dates indicated:


	March 31, 2024				December 31, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Fixed maturities, including securities pledged	$	27,701	$	27,701	$	28,611	$	28,611
Equity securities	219		219		236		236
Mortgage loans on real estate	5,118		4,831		5,218		4,941
Policy loans	349		349		352		352
Cash, cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185		2,185		2,165		2,165
Derivatives	378		378		311		311
Embedded derivatives on reinsurance	59		59		61		61
Other investments	64		64		64		64
Assets held in separate accounts	98,636		98,636		93,133		93,133
Liabilities:
Investment contract liabilities:
Funding agreements without fixed maturities and deferred annuities(1)	$	32,196	$	33,978	$	32,848	$	34,856
Funding agreements with fixed maturities	1,200		1,206		1,175		1,178
Supplementary contracts, immediate annuities and other	607		545		628		571

Stabilizer and MCGs	8		8		9		9
Derivatives	332		332		371		371
Embedded derivative on reinsurance	47		47		49		49
Short-term debt	393		387		1		1
Long-term debt	1,707		1,617		2,097		1,998

(1) Certain amounts included in Funding agreements without fixed maturities and deferred annuities are also reflected within the Stabilizer and MCGs section of the table above.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of March 31, 2024:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	180	$	—	$	—	$	—	$	180
Corporate loans	—		1,500		—		—		1,500
Limited partnerships/corporations	—		—		—		2,881		2,881
VOE
Cash and cash equivalents	1		—		—		—		1

Other investments(1)	—		—		—		24		24

Total assets	$	181	$	1,500	$	—	$	2,905	$	4,586
Liabilities
VIEs
CLO notes	$	—	$	1,368	$	—	$	—	$	1,368
Total liabilities	$	—	$	1,368	$	—	$	—	$	1,368
(1) VOE - Other investments are reflected in Assets related to consolidated investment entities - Other assets on the Company's Condensed Consolidated Balance Sheets.

The following table summarizes the fair value hierarchy levels of consolidated investment entities as of December 31, 2023:


	Level 1		Level 2		Level 3		NAV		Total
Assets
VIEs
Cash and cash equivalents	$	181	$	—	$	—	$	—	$	181
Corporate loans	—		1,404		—		—		1,404
Limited partnerships/corporations	—		—		—		2,861		2,861





Total assets	$	181	$	1,404	$	—	$	2,861	$	4,446
Liabilities
VIEs
CLO notes	$	—	$	1,332	$	—	$	—	$	1,332
Total liabilities	$	—	$	1,332	$	—	$	—	$	1,332

Intangible Assets, Goodwill and Other (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill reported in the Company's operating segments were as follows:


	Wealth Solutions		Health Solutions		Investment Management		Corporate(1)		Consolidated
Balance as of January 1, 2023	$	17	$	24	$	286	$	—	$	327
Additions from business combinations	—		319		—		102		421

Balance as of December 31, 2023	$	17	$	343	$	286	$	102	$	748
Additions from business combinations(2)	—		—		—		—		—

Balance as of March 31, 2024	$	17	$	343	$	286	$	102	$	748

(1) Corporate includes goodwill that was acquired by the parent company and not pushed to a subsidiary within the Company’s reportable segments. The carrying value of goodwill within Corporate is allocated to Wealth Solutions, Health Solutions, and Investment Management reporting units as $72, $20 and $10, respectively

(2) See the Business, Basis of Presentation and Significant Accounting Policies Note for information on recent business combinations.

Schedule of Indefinite-Lived Intangible Assets

The following table presents other intangible assets as of the dates indicated:


	Weighted Average Amortization Lives	March 31, 2024						December 31, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Indefinite-life intangibles:
Right to manage client assets	N/A	$	345	$	—	$	345	$	345	$	—	$	345
Management contract rights	N/A	5		—		5		5		—		5
Total indefinite-life intangibles		$	350	$	—	$	350	$	350	$	—	$	350
Finite-life intangibles:
Management contract rights	15 years	$	153	$	14	$	139	$	153	$	11	$	142
Customer relationship lists	17 years	325		132		193		325		128		197
Trademarks	8 years	15		2		13		15		2		13
Computer software	4 years	528		362		166		501		346		155
Total intangible assets		$	1,371	$	510	$	861	$	1,344	$	487	$	857

Schedule of Finite-Lived Intangible Assets

The following table presents other intangible assets as of the dates indicated:


	Weighted Average Amortization Lives	March 31, 2024						December 31, 2023
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Indefinite-life intangibles:
Right to manage client assets	N/A	$	345	$	—	$	345	$	345	$	—	$	345
Management contract rights	N/A	5		—		5		5		—		5
Total indefinite-life intangibles		$	350	$	—	$	350	$	350	$	—	$	350
Finite-life intangibles:
Management contract rights	15 years	$	153	$	14	$	139	$	153	$	11	$	142
Customer relationship lists	17 years	325		132		193		325		128		197
Trademarks	8 years	15		2		13		15		2		13
Computer software	4 years	528		362		166		501		346		155
Total intangible assets		$	1,371	$	510	$	861	$	1,344	$	487	$	857

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Business, Basis of Presentation and Significant Accounting Policies - Narrative (Details) $ in Millions		3 Months Ended
	Jan. 24, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of operating segments \| segment		3
Payments for business acquisitions, net of cash acquired		$ 0.0	$ 534.0
Goodwill acquired		748.0		$ 748.0	$ 327.0
Benefitfocus
Total purchase consideration	$ 595.0
Cash purchase consideration	583.0
Payments for business acquisitions, net of cash acquired	558.0
Cash acquired from acquisition	25.0
Cash acquired	49.0
Goodwill acquired	319.0
Lease liabilities assumed	91.0
Intangible assets acquired	275.0
Deferred tax assets acquired	45.0
Customer Relationships \| Benefitfocus
Finite-lived intangible assets acquired	$ 190.0
Acquired finite-lived intangible assets, useful life	15 years
Software \| Benefitfocus
Finite-lived intangible assets acquired	$ 70.0
Acquired finite-lived intangible assets, useful life	5 years
VFI SLK
Cash purchase consideration		53.0
Voya India
Goodwill acquired		$ 102.0
Voya India
Noncontrolling interest, ownership percentage by parent		49.00%
SLK
Noncontrolling interest, ownership percentage by noncontrolling owners		51.00%

Investments (excluding Consolidated Investment Entities) - Fixed Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	$ 26,979	$ 27,690
Securities pledged, Amortized Cost	1,330	1,232
Fixed maturities, allowance for credit losses	22	17	$ 12
Collateral Pledged
Schedule of Available for Sale, including Securities Pledged [Line Items]
Securities pledged	1,227	1,160
U.S. Treasuries
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	424	417
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	3	7
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	26	21
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0
Fixed maturities, Fair Value	401	403
U.S. Government agencies and authorities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	54	54
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	2	3
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	1	1
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0
Fixed maturities, Fair Value	55	56
State, municipalities and political subdivisions
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	785	871
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	0	1
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	104	101
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0
Fixed maturities, Fair Value	681	771
U.S. corporate public securities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	8,165	8,402
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	148	168
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	974	904
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0	0
Fixed maturities, Fair Value	7,339	7,666
U.S. corporate private securities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	5,046	5,040
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	37	44
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	363	324
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0
Fixed maturities, Fair Value	4,720	4,760
Foreign corporate public securities and foreign governments
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	2,797	2,928
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	41	47
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	273	270
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	2	3	9
Fixed maturities, Fair Value	2,563	2,702
Foreign corporate private securities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	2,845	2,916
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	20	27
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	152	129
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	1	2	2
Fixed maturities, Fair Value	2,712	2,812
Residential mortgage-backed
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	3,586	3,695
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	28	36
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	276	257
Embedded Derivatives	(1)	(2)
Fixed maturities, allowance for credit losses	0	0
Fixed maturities, Fair Value	3,339	3,476
Commercial mortgage-backed securities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	4,059	4,147
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	3	1
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	584	644
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	14	9	$ 0
Fixed maturities, Fair Value	3,464	3,495
Other asset-backed securities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	2,461	2,528
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	25	16
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	54	71
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	5	3
Fixed maturities, Fair Value	2,427	2,470
Fixed maturities
Schedule of Available for Sale, including Securities Pledged [Line Items]
Fixed maturities, Amortized Cost	30,222	30,998
Total fixed maturities, less securities pledged, Amortized Cost	28,892	29,766
Fixed maturities, including securities pledged, Gross Unrealized Capital Gains	307	350
Total fixed maturities, less securities pledged, Gross Unrealized Capital Gains	307	350
Fixed maturities, including securities pledged, Gross Unrealized Capital Losses	2,807	2,722
Total fixed maturities, less securities pledged, Gross Unrealized Capital Losses	2,704	2,650
Embedded Derivatives	(1)	(2)
Fixed maturities, allowance for credit losses	22	17
Fixed maturities, Fair Value	27,701	28,611
Total fixed maturities, less securities pledged, Fair Value	26,474	27,451
Fixed maturities \| Collateral Pledged
Schedule of Available for Sale, including Securities Pledged [Line Items]
Securities pledged, Amortized Cost	1,330	1,232
Securities pledged, Gross Unrealized Capital Gains	0	0
Securities pledged, Gross Unrealized Capital Losses	103	72
Embedded Derivatives	0	0
Fixed maturities, allowance for credit losses	0	0
Securities pledged	$ 1,227	$ 1,160

Investments (excluding Consolidated Investment Entities) - Debt Maturities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities, amortized cost	$ 26,979,000,000	$ 27,690,000,000
Single issuer in excess of total equity	0
Fixed maturities
Available-for-sale Securities, Including Securities Pledged [Line Items]
One year or less, Amortized Cost	759,000,000
After one year through five years, Amortized Cost	3,796,000,000
After five years through ten years, Amortized Cost	3,744,000,000
After ten years, Amortized Cost	11,817,000,000
Fixed maturities, amortized cost	30,222,000,000	30,998,000,000
One year or less, Fair Value	744,000,000
After one year through five years, Fair Value	3,654,000,000
After five years through ten years, Fair Value	3,600,000,000
After ten years, Fair Value	10,473,000,000
Fixed maturities, fair value	27,701,000,000	28,611,000,000
Mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Without single maturity date, Amortized Cost	7,645,000,000
Without single maturity date, Fair Value	6,803,000,000
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Without single maturity date, Amortized Cost	2,461,000,000
Fixed maturities, amortized cost	2,461,000,000	2,528,000,000
Without single maturity date, Fair Value	2,427,000,000
Fixed maturities, fair value	$ 2,427,000,000	$ 2,470,000,000

Investments (excluding Consolidated Investment Entities) - Repurchase Agreements and Securities Pledged (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Securities Financing Transaction [Line Items]
Initial collateral required, percent of market value of loaned securities	102.00%
Payables under securities loan and repurchase agreements, including collateral held	$ 1,220	$ 1,121
U.S. Treasuries
Securities Financing Transaction [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	41	14
U.S. corporate public securities
Securities Financing Transaction [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	613	568
Short-term Investments
Securities Financing Transaction [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	15	55
Foreign corporate public securities and foreign governments
Securities Financing Transaction [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	273	238
Total collateral held
Securities Financing Transaction [Line Items]
Payables under securities loan and repurchase agreements, including collateral held	942	875
Collateral Pledged
Securities Financing Transaction [Line Items]
Securities sold under agreements to repurchase, asset	0	0
Securities pledged	1,227	1,160
Collateral Pledged \| Fixed maturities
Securities Financing Transaction [Line Items]
Securities pledged	1,227	1,160
Securities pledged
Securities Financing Transaction [Line Items]
Securities pledged/obligations under repurchase agreements	114	117
Securities loaned to lending agent	912	842
Securities pledged as collateral	201	201
Short-term Investments
Securities Financing Transaction [Line Items]
Securities received as collateral	$ 690	$ 660

Investments (excluding Consolidated Investment Entities) - Allowance for Credit Losses on Available-for-sale Fixed Maturity Securities (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Sep. 30, 2023	Dec. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	$ 17	$ 12	$ 12
Credit losses on securities for which credit losses were not previously recorded	6	11
Reductions for securities sold during the period	(1)	(5)
Increase (decrease) on securities with allowance recorded in previous period	0	(1)
Ending Balance	22		17
U.S. corporate public securities
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0	0	0
Credit losses on securities for which credit losses were not previously recorded	0		0
Reductions for securities sold during the period	0		0
Increase (decrease) on securities with allowance recorded in previous period	0		0
Ending Balance	0		0
Residential mortgage-backed
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	0
Ending Balance	0		0
Commercial mortgage-backed securities
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	9	0	0
Credit losses on securities for which credit losses were not previously recorded	5		9
Reductions for securities sold during the period	0		0
Increase (decrease) on securities with allowance recorded in previous period	0		0
Ending Balance	14		9
Foreign corporate public securities and foreign governments
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	3	9	9
Credit losses on securities for which credit losses were not previously recorded	0	0
Reductions for securities sold during the period	(1)	(5)
Increase (decrease) on securities with allowance recorded in previous period	0	(1)
Ending Balance	2		3
Foreign corporate private securities
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	2	2	2
Credit losses on securities for which credit losses were not previously recorded	0	0
Reductions for securities sold during the period	0	0
Increase (decrease) on securities with allowance recorded in previous period	(1)	0
Ending Balance	1		2
Other asset-backed securities
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	3	1	1
Credit losses on securities for which credit losses were not previously recorded	1	2
Reductions for securities sold during the period	0	0
Increase (decrease) on securities with allowance recorded in previous period	1	$ 0
Ending Balance	$ 5		$ 3

Investments (excluding Consolidated Investment Entities) - Unrealized Capital Losses (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 1,662	$ 1,221
Twelve months or less below amortized cost, Unrealized Capital Loss	51	42
More than twelve months below amortized cost, Fair Value	17,595	18,938
More than twelve months below amortized cost, Unrealized Capital Loss	2,756	2,680
Total, Fair Value	19,257	20,159
Total Unrealized Capital Losses	$ 2,807	2,722
Minimum
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities average duration	6 years 6 months
Maximum
Available-for-sale Securities, Including Securities Pledged [Line Items]
Fixed maturities average duration	7 years
U.S. Treasuries
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	$ 120	99
Twelve months or less below amortized cost, Unrealized Capital Loss	4	3
More than twelve months below amortized cost, Fair Value	115	109
More than twelve months below amortized cost, Unrealized Capital Loss	22	18
Total, Fair Value	235	208
Total Unrealized Capital Losses	26	21
U.S. Government agencies and authorities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	14	0
Twelve months or less below amortized cost, Unrealized Capital Loss	0	0
More than twelve months below amortized cost, Fair Value	3	3
More than twelve months below amortized cost, Unrealized Capital Loss	1	1
Total, Fair Value	17	3
Total Unrealized Capital Losses	1	1
State, municipalities and political subdivisions
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	17	20
Twelve months or less below amortized cost, Unrealized Capital Loss	0	0
More than twelve months below amortized cost, Fair Value	651	731
More than twelve months below amortized cost, Unrealized Capital Loss	104	101
Total, Fair Value	668	751
Total Unrealized Capital Losses	104	101
U.S. corporate public securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	347	321
Twelve months or less below amortized cost, Unrealized Capital Loss	23	17
More than twelve months below amortized cost, Fair Value	4,875	5,101
More than twelve months below amortized cost, Unrealized Capital Loss	951	887
Total, Fair Value	5,222	5,422
Total Unrealized Capital Losses	974	904
U.S. corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	451	176
Twelve months or less below amortized cost, Unrealized Capital Loss	12	7
More than twelve months below amortized cost, Fair Value	3,229	3,365
More than twelve months below amortized cost, Unrealized Capital Loss	351	317
Total, Fair Value	3,680	3,541
Total Unrealized Capital Losses	363	324
Foreign corporate public securities and foreign governments
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	144	82
Twelve months or less below amortized cost, Unrealized Capital Loss	2	2
More than twelve months below amortized cost, Fair Value	1,613	1,749
More than twelve months below amortized cost, Unrealized Capital Loss	271	268
Total, Fair Value	1,757	1,831
Total Unrealized Capital Losses	273	270
Foreign corporate private securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	277	189
Twelve months or less below amortized cost, Unrealized Capital Loss	4	5
More than twelve months below amortized cost, Fair Value	2,086	2,101
More than twelve months below amortized cost, Unrealized Capital Loss	148	124
Total, Fair Value	2,363	2,290
Total Unrealized Capital Losses	152	129
Residential mortgage-backed
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	189	114
Twelve months or less below amortized cost, Unrealized Capital Loss	4	3
More than twelve months below amortized cost, Fair Value	1,321	1,354
More than twelve months below amortized cost, Unrealized Capital Loss	272	254
Total, Fair Value	1,510	1,468
Total Unrealized Capital Losses	276	257
Commercial mortgage-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	21	84
Twelve months or less below amortized cost, Unrealized Capital Loss	1	2
More than twelve months below amortized cost, Fair Value	3,242	3,269
More than twelve months below amortized cost, Unrealized Capital Loss	583	642
Total, Fair Value	3,263	3,353
Total Unrealized Capital Losses	584	644
Other asset-backed securities
Available-for-sale Securities, Including Securities Pledged [Line Items]
Twelve months or less below amortized cost, Fair Value	82	136
Twelve months or less below amortized cost, Unrealized Capital Loss	1	3
More than twelve months below amortized cost, Fair Value	460	1,156
More than twelve months below amortized cost, Unrealized Capital Loss	53	68
Total, Fair Value	542	1,292
Total Unrealized Capital Losses	$ 54	$ 71

Investments (excluding Consolidated Investment Entities) - Evaluating Securities for Impairments and Debt Restructuring (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) loan	Mar. 31, 2023 USD ($) loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Intent impairments \| $	$ 0	$ 0
Commercial mortgage loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Debt modifcations, number of contracts \| loan	0	0

Investments (excluding Consolidated Investment Entities) - Loans by Loan to Value (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Schedule of Loans by Loan to Value Ratio [Line Items]
Targeted maximum amount of mortgage loans lended, percent of estimated fair value of underlying real estate	75.00%
0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Loan to value ratio, minimum		0.00%
Loan to value ratio, maximum		50.00%
50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Loan to value ratio, minimum		50.00%
Loan to value ratio, maximum		60.00%
60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Loan to value ratio, minimum		60.00%
Loan to value ratio, maximum		70.00%
70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Loan to value ratio, minimum		70.00%
Loan to value ratio, maximum		80.00%
80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Loan to value ratio, minimum		80.00%
Year of Origination 2024 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 69
Year of Origination 2024 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	33
Year of Origination 2024 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0
Year of Origination 2023 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	118	$ 150
Year of Origination 2023 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	257	222
Year of Origination 2023 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2023 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2023 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2022 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	252	252
Year of Origination 2022 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	324	326
Year of Origination 2022 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	73	73
Year of Origination 2022 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2022 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2021 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	244	244
Year of Origination 2021 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	203	214
Year of Origination 2021 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	203	209
Year of Origination 2021 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2021 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	177	168
Year of Origination 2020 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	98	112
Year of Origination 2020 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	10
Year of Origination 2020 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	16	16
Year of Origination 2019 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	2,726	238
Year of Origination 2019 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	288	68
Year of Origination 2019 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	18	28
Year of Origination 2019 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2019 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	19	0
Year of Origination 2018 \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans		2,586
Year of Origination 2018 \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans		280
Year of Origination 2018 \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans		4
Year of Origination 2018 \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans		0
Year of Origination 2018 \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans		18
Total \| 0% - 50%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	3,586	3,638
Total \| 50% - 60%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	1,203	1,222
Total \| 60% - 70%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	294	314
Total \| 70% - 80%
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	0	10
Total \| 80% and above
Schedule of Loans by Loan to Value Ratio [Line Items]
Commercial mortgage loans	$ 35	$ 34

Investments (excluding Consolidated Investment Entities) - Loans by Debt Service Coverage Ratio (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
>1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	1.5
>1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	1.25
Debt Service Coverage Ratio, maximum	1.5
>1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, minimum	1.0
Debt Service Coverage Ratio, maximum	1.25
Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Debt Service Coverage Ratio, maximum	1.0
Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	$ 5,118	$ 5,218
Year of Origination 2024 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	21
Year of Origination 2024 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	34
Year of Origination 2024 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	44
Year of Origination 2024 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	3
Year of Origination 2024 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	102
Year of Origination 2023 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	157	189
Year of Origination 2023 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	151	116
Year of Origination 2023 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	67	67
Year of Origination 2023 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2023 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	375	372
Year of Origination 2022 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	203	204
Year of Origination 2022 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	57	68
Year of Origination 2022 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	186	192
Year of Origination 2022 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	203	187
Year of Origination 2022 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	649	651
Year of Origination 2021 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	259	260
Year of Origination 2021 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	14	14
Year of Origination 2021 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	56	64
Year of Origination 2021 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	321	329
Year of Origination 2021 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	650	667
Year of Origination 2020 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	209	211
Year of Origination 2020 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	23	24
Year of Origination 2020 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	21	21
Year of Origination 2020 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	38	50
Year of Origination 2020 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	291	306
Year of Origination 2019 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	2,277	203
Year of Origination 2019 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	270	26
Year of Origination 2019 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	328	84
Year of Origination 2019 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	176	21
Year of Origination 2019 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	3,051	334
Year of Origination 2018 \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans		2,216
Year of Origination 2018 \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans		264
Year of Origination 2018 \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans		255
Year of Origination 2018 \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans		153
Year of Origination 2018 \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans		2,888
Total \| >1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	3,126	3,283
Total \| >1.25x - 1.5x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	549	512
Total \| >1.0x - 1.25x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	702	683
Total \| Less than 1.0x
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	741	740
Total \| Total
Schedule of Loans by Debt Service Coverage Ratio [Line Items]
Commercial mortgage loans	$ 5,118	$ 5,218

Investments (excluding Consolidated Investment Entities) - Loans by U.S. Region (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Year of Origination 2024 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	$ 4
Year of Origination 2024 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	43
Year of Origination 2024 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	22
Year of Origination 2024 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	13
Year of Origination 2024 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	12
Year of Origination 2024 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	6
Year of Origination 2024 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	2
Year of Origination 2024 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	102
Year of Origination 2023 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	69	$ 69
Year of Origination 2023 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	80	77
Year of Origination 2023 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	12	12
Year of Origination 2023 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	101	101
Year of Origination 2023 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	39	39
Year of Origination 2023 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	41	42
Year of Origination 2023 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	3	3
Year of Origination 2023 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	27	26
Year of Origination 2023 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	3	3
Year of Origination 2023 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	375	372
Year of Origination 2022 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	140	140
Year of Origination 2022 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	132	132
Year of Origination 2022 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	47	47
Year of Origination 2022 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	98	100
Year of Origination 2022 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	113	113
Year of Origination 2022 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	93	93
Year of Origination 2022 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	5	5
Year of Origination 2022 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1	1
Year of Origination 2022 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	20	20
Year of Origination 2022 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	649	651
Year of Origination 2021 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	96	96
Year of Origination 2021 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	63	63
Year of Origination 2021 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	121	124
Year of Origination 2021 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	148	148
Year of Origination 2021 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	98	111
Year of Origination 2021 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	73	75
Year of Origination 2021 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	10	9
Year of Origination 2021 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	40	40
Year of Origination 2021 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1	1
Year of Origination 2021 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	650	667
Year of Origination 2020 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	63	63
Year of Origination 2020 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	152	155
Year of Origination 2020 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	17	17
Year of Origination 2020 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	10	10
Year of Origination 2020 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	12	12
Year of Origination 2020 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	15	26
Year of Origination 2020 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	7	7
Year of Origination 2020 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	15	16
Year of Origination 2020 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	291	306
Year of Origination 2019 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	761	53
Year of Origination 2019 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	680	100
Year of Origination 2019 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	716	10
Year of Origination 2019 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	219	74
Year of Origination 2019 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	257	45
Year of Origination 2019 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	164	4
Year of Origination 2019 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	59	14
Year of Origination 2019 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	155	13
Year of Origination 2019 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	40	21
Year of Origination 2019 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	3,051	334
Year of Origination 2018 \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		734
Year of Origination 2018 \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		605
Year of Origination 2018 \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		765
Year of Origination 2018 \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		189
Year of Origination 2018 \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		214
Year of Origination 2018 \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		171
Year of Origination 2018 \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		47
Year of Origination 2018 \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		144
Year of Origination 2018 \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		19
Year of Origination 2018 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		2,888
Total \| Pacific
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1,133	1,155
Total \| South Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1,150	1,132
Total \| Middle Atlantic
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	935	975
Total \| West South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	589	622
Total \| Mountain
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	531	534
Total \| East North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	386	411
Total \| New England
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	83	78
Total \| West North Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	232	231
Total \| East South Central
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	79	80
Total \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	$ 5,118	$ 5,218

Investments (excluding Consolidated Investment Entities) - Loans by Property Type (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Year of Origination 2024 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	$ 19
Year of Origination 2024 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	71
Year of Origination 2024 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	12
Year of Origination 2024 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0
Year of Origination 2024 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	102
Year of Origination 2023 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	125	$ 125
Year of Origination 2023 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	167	164
Year of Origination 2023 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	33	33
Year of Origination 2023 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	18	18
Year of Origination 2023 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	32	32
Year of Origination 2023 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2023 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2023 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	375	372
Year of Origination 2022 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	79	79
Year of Origination 2022 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	262	263
Year of Origination 2022 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	254	255
Year of Origination 2022 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	34	34
Year of Origination 2022 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	10	10
Year of Origination 2022 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	10	10
Year of Origination 2022 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2022 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	649	651
Year of Origination 2021 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	36	36
Year of Origination 2021 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	141	145
Year of Origination 2021 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	335	335
Year of Origination 2021 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	111	123
Year of Origination 2021 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2021 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	18	18
Year of Origination 2021 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	9	10
Year of Origination 2021 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	650	667
Year of Origination 2020 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	56	57
Year of Origination 2020 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	49	49
Year of Origination 2020 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	72	72
Year of Origination 2020 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	114	128
Year of Origination 2020 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	0	0
Year of Origination 2020 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	291	306
Year of Origination 2019 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	712	45
Year of Origination 2019 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	816	82
Year of Origination 2019 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	750	160
Year of Origination 2019 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	493	36
Year of Origination 2019 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	70	11
Year of Origination 2019 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	161	0
Year of Origination 2019 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	49	0
Year of Origination 2019 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	3,051	334
Year of Origination 2018 \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		780
Year of Origination 2018 \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		755
Year of Origination 2018 \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		618
Year of Origination 2018 \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		463
Year of Origination 2018 \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		60
Year of Origination 2018 \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		163
Year of Origination 2018 \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		49
Year of Origination 2018 \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans		2,888
Total \| Retail
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1,027	1,122
Total \| Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1,506	1,458
Total \| Apartments
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	1,456	1,473
Total \| Office
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	770	802
Total \| Hotel/Motel
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	112	113
Total \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	189	191
Total \| Mixed Use
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	58	59
Total \| Total
Financing Receivable, Credit Quality Indicator [Line Items]
Commercial mortgage loans	$ 5,118	$ 5,218

Investments (excluding Consolidated Investment Entities) - Allowance for Losses for Commercial Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]
Ending Balance	$ 26
Commercial Portfolio Segment
Allowance for Loan and Lease Losses [Roll Forward]
Beginning Balance	26	$ 18
Credit losses on mortgage loans for which credit losses were not previously recorded	0	2
Increase (decrease) on mortgage loans with an allowance recorded in a previous period	0	9
Provision for expected credit losses	26	29
Write-offs	0	(3)
Recoveries of amounts previously written-off	0	0
Ending Balance	$ 26	$ 26

Investments (excluding Consolidated Investment Entities) - Past due commercial mortgage loans (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans on non-accrual status	$ 35,000,000	$ 16,000,000
LTV Ratio, nonaccrual	100.00%
Nonaccrual, interest income	$ 0	0
Private placement debt
Financing Receivable, Past Due [Line Items]
Threshold period past due, nonaccrual	90 days
Private placement debt \| Current
Financing Receivable, Past Due [Line Items]
Commercial mortgage loans	$ 5,083,000,000	5,202,000,000
Private placement debt \| 30-59 days past due
Financing Receivable, Past Due [Line Items]
Commercial mortgage loans	19,000,000	0
Private placement debt \| 60-89 days past due
Financing Receivable, Past Due [Line Items]
Commercial mortgage loans	0	0
Private placement debt \| Greater than 90 days past due
Financing Receivable, Past Due [Line Items]
Commercial mortgage loans	16,000,000	16,000,000
Private placement debt \| Total
Financing Receivable, Past Due [Line Items]
Commercial mortgage loans	$ 5,118,000,000	$ 5,218,000,000

Investments (excluding Consolidated Investment Entities) - Net Investment Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Net Investment Income [Line Items]
Gross investment income	$ 546,000,000	$ 563,000,000
Less: Investment expenses	17,000,000	18,000,000
Net investment income	529,000,000	545,000,000
Fixed maturity securities on non-accrual status	35,000,000		$ 16,000,000
Fixed maturities
Net Investment Income [Line Items]
Gross investment income	416,000,000	458,000,000
Fixed maturity securities on non-accrual status	11,000,000		$ 10,000,000
Equity securities
Net Investment Income [Line Items]
Gross investment income	5,000,000	7,000,000
Mortgage loans on real estate
Net Investment Income [Line Items]
Gross investment income	61,000,000	61,000,000
Policy loans
Net Investment Income [Line Items]
Gross investment income	6,000,000	6,000,000
Short-term investments and cash equivalents
Net Investment Income [Line Items]
Gross investment income	10,000,000	9,000,000
Limited partnerships and other
Net Investment Income [Line Items]
Gross investment income	$ 48,000,000	$ 22,000,000

Investments (excluding Consolidated Investment Entities) - Net Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Realized Gain/(Losses) [Line Items]
Net gains (losses)	$ 43	$ (16)
Fixed maturities
Realized Gain/(Losses) [Line Items]
Net gains (losses)	(1)	1
Other derivatives, net
Realized Gain/(Losses) [Line Items]
Net gains (losses)	1	0
Standalone derivatives
Realized Gain/(Losses) [Line Items]
Net gains (losses)	1	0
Managed Custody Guarantees
Realized Gain/(Losses) [Line Items]
Net gains (losses)	1	3
Derivatives
Realized Gain/(Losses) [Line Items]
Net gains (losses)	136	(54)
Mortgage loans on real estate
Realized Gain/(Losses) [Line Items]
Net gains (losses)	1	0
Other investments
Realized Gain/(Losses) [Line Items]
Net gains (losses)	2	(1)
Fixed maturities, available-for-sale, including securities pledged
Realized Gain/(Losses) [Line Items]
Net gains (losses)	(20)	1
Fixed maturities, at fair value option
Realized Gain/(Losses) [Line Items]
Net gains (losses)	(81)	36
Equity securities, at fair value
Realized Gain/(Losses) [Line Items]
Net gains (losses)	$ 3	$ (2)

Investments (excluding Consolidated Investment Entities) - Proceeds and Gross Gains/(Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Proceeds on sales	$ 829	$ 1,306
Gross gains	11	20
Gross losses	$ 27	$ 25

Derivative Financial Instruments - Notional and Fair Values (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 438,000,000	$ 374,000,000
Derivative Liability, Fair Value, Gross Liability	387,000,000	429,000,000
Excluded asset exchange traded contract	0	0
Excluded Liability Exchange Traded Contracts	0	1,000,000
Not Designated as Hedging Instrument \| Credit contracts
Derivative [Line Items]
Notional Amount	177,000,000	137,000,000
Not Designated as Hedging Instrument \| Derivatives \| Credit contracts
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	5,000,000	2,000,000
Foreign exchange contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	160,000,000	183,000,000
Foreign exchange contracts \| Not Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,000,000	4,000,000
Derivative Liability, Fair Value, Gross Liability	1,000,000	2,000,000
Foreign exchange contracts \| Fair Value Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	100,000,000	98,000,000
Foreign exchange contracts \| Fair Value Hedging \| Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,000,000	0
Derivative Liability, Fair Value, Gross Liability	0	4,000,000
Foreign exchange contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	718,000,000	718,000,000
Foreign exchange contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	38,000,000	33,000,000
Derivative Liability, Fair Value, Gross Liability	5,000,000	7,000,000
Interest rate contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	17,133,000,000	16,773,000,000
Interest rate contracts \| Not Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	330,000,000	270,000,000
Derivative Liability, Fair Value, Gross Liability	318,000,000	354,000,000
Interest rate contracts \| Cash Flow Hedging \| Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	12,000,000	12,000,000
Interest rate contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Equity contracts \| Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	285,000,000	255,000,000
Equity contracts \| Not Designated as Hedging Instrument \| Derivatives
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	8,000,000	4,000,000
Derivative Liability, Fair Value, Gross Liability	3,000,000	2,000,000
Fixed maturities \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,000,000	2,000,000
Derivative Liability, Fair Value, Gross Liability	0	0
Embedded derivative on reinsurance \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Not Subject to Master Netting Arrangement	59,000,000	61,000,000
Derivative Liability, Not Subject to Master Netting Arrangement	47,000,000	49,000,000
Managed custody guarantees \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	1,000,000	1,000,000
Managed Custody Guarantees \| Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	$ 7,000,000	$ 8,000,000

Derivative Financial Instruments - Offsetting Assets and Liabilities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Offsetting Assets and Liabilities [Line Items]
Gross amount recognized, Assets	$ 378,000,000	$ 311,000,000
Gross amount recognized, Liabilities	332,000,000	370,000,000
Counterparty netting, Assets	(273,000,000)	(216,000,000)
Counterparty netting, Liabilities	(273,000,000)	(216,000,000)
Cash collateral netting, Assets	(96,000,000)	(76,000,000)
Cash collateral netting, Liabilities	(56,000,000)	(150,000,000)
Securities collateral netting, Assets	(5,000,000)	(8,000,000)
Securities collateral netting, Liabilities	(2,000,000)	(3,000,000)
Net receivables/payables, Assets	4,000,000	11,000,000
Net receivables/payables, Liabilities	1,000,000	1,000,000
Excluded Liability Exchange Traded Contracts	$ 0	$ 1,000,000

Derivative Financial Instruments - Collateral and Credit Default Swaps (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Securities pledged as collateral
Derivatives, Fair Value [Line Items]
Securities held as collateral	$ 4	$ 11
Securities pledged as collateral	201	201
Over the counter \| Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	99	84
Cleared derivative contract \| Cash collateral, included in Payables
Derivatives, Fair Value [Line Items]
Securities held as collateral	$ 57	$ 147

Derivative Financial Instruments - Effect of Derivatives (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Net investment income	$ 529	$ 545
Net gains (losses)	43	(16)
Gain (loss) on derivative, net	133	(75)
Not Designated as Hedging Instrument \| Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(1)	(1)
Interest rate contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	126	(56)
Interest rate contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Other Comprehensive Income (Loss)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	0	0
Interest rate contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	0	0
Foreign exchange contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(2)	1
Foreign exchange contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Other Comprehensive Income (Loss)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	8	(12)
Foreign exchange contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income	3	3
Gain (loss) on derivative, net	3	3
Foreign exchange contracts \| Cash Flow Hedging \| Designated as Hedging Instrument \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	0	0
Foreign exchange contracts \| Fair Value Hedging \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	0	0
Foreign exchange contracts \| Fair Value Hedging \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	(2)	2
Foreign exchange contracts \| Fair Value Hedging \| Designated as Hedging Instrument \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	0	0
Foreign exchange contracts \| Fair Value Hedging \| Designated as Hedging Instrument \| Gain (Loss) on Investments [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	3	(1)
Embedded derivative on reinsurance
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	0	(26)
Embedded derivative on reinsurance \| Level 3 \| Measured at fair value on a recurring basis
Derivative Instruments, Gain (Loss) [Line Items]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings	1	1
Total Realized/Unrealized Gains (Losses) Included in Net income	1	0
Equity contracts \| Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative, net	10	3
Fixed maturities
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses)	(1)	1
Gain (loss) on derivative, net	(1)	1
Managed Custody Guarantees
Derivative Instruments, Gain (Loss) [Line Items]
Net gains (losses)	1	3
Gain (loss) on derivative, net	1	3
Managed custody guarantees \| Level 3 \| Measured at fair value on a recurring basis
Derivative Instruments, Gain (Loss) [Line Items]
Total Realized/Unrealized Gains (Losses) Included in Net income	$ 2	$ 4

Fair Value Measurements (excluding Consolidated Investment Entities) - Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in separate accounts	$ 98,636	$ 93,133
Total assets	161,631	157,085
Derivatives	332	371
Total liabilities	155,760	151,032
Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	27,701	28,611
U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	401	403
U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	55	56
State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	681	771
U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	7,339	7,666
U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	4,720	4,760
Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,563	2,702
Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,712	2,812
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,339	3,476
Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,464	3,495
Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,427	2,470
Measured at fair value on a recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185	2,165
Assets held in separate accounts	98,636	93,133
Total assets	129,178	124,517
Contingent consideration	48	51
Total liabilities	435	480
Measured at fair value on a recurring basis \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	8	9
Measured at fair value on a recurring basis \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	330	270
Derivatives	318	354
Measured at fair value on a recurring basis \| Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	40	37
Derivatives	6	13
Measured at fair value on a recurring basis \| Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	8	4
Derivatives	3	2
Measured at fair value on a recurring basis \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	59	61
Embedded derivative on reinsurance	47	49
Measured at fair value on a recurring basis \| Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	5	2
Measured at fair value on a recurring basis \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	27,701	28,611
Measured at fair value on a recurring basis \| U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	401	403
Measured at fair value on a recurring basis \| U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	55	56
Measured at fair value on a recurring basis \| State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	681	771
Measured at fair value on a recurring basis \| U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	7,339	7,666
Measured at fair value on a recurring basis \| U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	4,720	4,760
Measured at fair value on a recurring basis \| Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,563	2,702
Measured at fair value on a recurring basis \| Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,712	2,812
Measured at fair value on a recurring basis \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,338	3,476
Measured at fair value on a recurring basis \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,465	3,495
Measured at fair value on a recurring basis \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,427	2,470
Measured at fair value on a recurring basis \| Equity securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	219	236
Measured at fair value on a recurring basis \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,169	2,148
Assets held in separate accounts	92,585	87,180
Total assets	95,177	89,821
Contingent consideration	0	0
Total liabilities	1	0
Measured at fair value on a recurring basis \| Level 1 \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Measured at fair value on a recurring basis \| Level 1 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	1	7
Derivatives	1	0
Measured at fair value on a recurring basis \| Level 1 \| Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 1 \| Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 1 \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Embedded derivative on reinsurance	0	0
Measured at fair value on a recurring basis \| Level 1 \| Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 1 \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	302	346
Measured at fair value on a recurring basis \| Level 1 \| U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	302	346
Measured at fair value on a recurring basis \| Level 1 \| U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 1 \| Equity securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	120	140
Measured at fair value on a recurring basis \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	16	17
Assets held in separate accounts	5,691	5,605
Total assets	31,513	32,162
Contingent consideration	0	0
Total liabilities	321	362
Measured at fair value on a recurring basis \| Level 2 \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	0	0
Measured at fair value on a recurring basis \| Level 2 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	329	263
Derivatives	317	354
Measured at fair value on a recurring basis \| Level 2 \| Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	40	37
Derivatives	6	13
Measured at fair value on a recurring basis \| Level 2 \| Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	8	4
Derivatives	3	2
Measured at fair value on a recurring basis \| Level 2 \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	59	61
Embedded derivative on reinsurance	(10)	(9)
Measured at fair value on a recurring basis \| Level 2 \| Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	5	2
Measured at fair value on a recurring basis \| Level 2 \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	25,370	26,175
Measured at fair value on a recurring basis \| Level 2 \| U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	99	57
Measured at fair value on a recurring basis \| Level 2 \| U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	54	55
Measured at fair value on a recurring basis \| Level 2 \| State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	681	771
Measured at fair value on a recurring basis \| Level 2 \| U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	7,321	7,648
Measured at fair value on a recurring basis \| Level 2 \| U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,265	3,234
Measured at fair value on a recurring basis \| Level 2 \| Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,563	2,702
Measured at fair value on a recurring basis \| Level 2 \| Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,264	2,376
Measured at fair value on a recurring basis \| Level 2 \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,286	3,419
Measured at fair value on a recurring basis \| Level 2 \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	3,465	3,495
Measured at fair value on a recurring basis \| Level 2 \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,372	2,418
Measured at fair value on a recurring basis \| Level 2 \| Equity securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Measured at fair value on a recurring basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	0	0
Assets held in separate accounts	360	348
Total assets	2,488	2,534
Contingent consideration	48	51
Total liabilities	113	118
Measured at fair value on a recurring basis \| Level 3 \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	8	9
Measured at fair value on a recurring basis \| Level 3 \| Interest rate contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 3 \| Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 3 \| Equity contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 3 \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Embedded derivative on reinsurance	57	58
Measured at fair value on a recurring basis \| Level 3 \| Credit contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Measured at fair value on a recurring basis \| Level 3 \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	2,029	2,090
Measured at fair value on a recurring basis \| Level 3 \| U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 3 \| U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	1	1
Measured at fair value on a recurring basis \| Level 3 \| State, municipalities and political subdivisions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 3 \| U.S. corporate public securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	18	18
Measured at fair value on a recurring basis \| Level 3 \| U.S. corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	1,455	1,526
Measured at fair value on a recurring basis \| Level 3 \| Foreign corporate public securities and foreign governments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 3 \| Foreign corporate private securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	448	436
Measured at fair value on a recurring basis \| Level 3 \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	52	57
Measured at fair value on a recurring basis \| Level 3 \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	0	0
Measured at fair value on a recurring basis \| Level 3 \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, Fair Value	55	52
Measured at fair value on a recurring basis \| Level 3 \| Equity securities, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	$ 99	$ 96

Fair Value Measurements (excluding Consolidated Investment Entities) - Level 3 Financial Instruments (Details) - Measured at fair value on a recurring basis - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Embedded derivative on reinsurance
Derivatives Rollforward:
Fair Value, Derivatives, beginning balance	$ (58)	$ (58)
Total Realized/Unrealized Gains (Losses) Included in Net income	1	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Derivatives, ending balance	(57)	(58)
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0	0
Managed custody guarantees
Derivatives Rollforward:
Fair Value, Derivatives, beginning balance	(9)	(6)
Total Realized/Unrealized Gains (Losses) Included in Net income	2	4
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	(1)	(1)
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Derivatives, ending balance	(8)	(3)
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Change In Unrealized Gains (Losses) Included in OCI	0	0
U.S. corporate public securities
Assets Rollforward:
Fair Value, Assets, beginning balance		20
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		0
Purchases		1
Issuances		0
Sales		0
Settlements		0
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		21
Change In Unrealized Gains (Losses) Included in Earnings		0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		0
U.S. corporate public securities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	18
Total Realized/Unrealized Gains (Losses) Included in Net income	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0
Purchases	0
Issuances	0
Sales	0
Settlements	0
Transfers in to Level 3	0
Transfers out of Level 3	0
Fair Value, Assets, ending balance	18
Change In Unrealized Gains (Losses) Included in Earnings	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0
U.S. corporate private securities
Assets Rollforward:
Fair Value, Assets, beginning balance		1,801
Total Realized/Unrealized Gains (Losses) Included in Net income		1
Total Realized/Unrealized Gains (Losses) Included in OCI		34
Purchases		40
Issuances		0
Sales		0
Settlements		(76)
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		1,800
Change In Unrealized Gains (Losses) Included in Earnings		1
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		34
U.S. corporate private securities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	1,526
Total Realized/Unrealized Gains (Losses) Included in Net income	0
Total Realized/Unrealized Gains (Losses) Included in OCI	(15)
Purchases	67
Issuances	0
Sales	(9)
Settlements	(79)
Transfers in to Level 3	0
Transfers out of Level 3	(35)
Fair Value, Assets, ending balance	1,455
Change In Unrealized Gains (Losses) Included in Earnings	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	(19)
Foreign corporate private securities
Assets Rollforward:
Fair Value, Assets, beginning balance		432
Total Realized/Unrealized Gains (Losses) Included in Net income		1
Total Realized/Unrealized Gains (Losses) Included in OCI		4
Purchases		57
Issuances		0
Sales		0
Settlements		(53)
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		441
Change In Unrealized Gains (Losses) Included in Earnings		1
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		4
Foreign corporate private securities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	436
Total Realized/Unrealized Gains (Losses) Included in Net income	0
Total Realized/Unrealized Gains (Losses) Included in OCI	(4)
Purchases	0
Issuances	0
Sales	0
Settlements	(35)
Transfers in to Level 3	51
Transfers out of Level 3	0
Fair Value, Assets, ending balance	448
Change In Unrealized Gains (Losses) Included in Earnings	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	(4)
Foreign corporate public securities and foreign governments \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance		3
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		0
Purchases		0
Issuances		0
Sales		0
Settlements		0
Transfers in to Level 3		0
Transfers out of Level 3		(3)
Fair Value, Assets, ending balance		0
Change In Unrealized Gains (Losses) Included in Earnings		0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		0
Residential mortgage-backed securities
Assets Rollforward:
Fair Value, Assets, beginning balance		28
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		0
Purchases		28
Issuances		0
Sales		0
Settlements		0
Transfers in to Level 3		0
Transfers out of Level 3		0
Fair Value, Assets, ending balance		56
Change In Unrealized Gains (Losses) Included in Earnings		0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		0
Residential mortgage-backed securities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	57
Total Realized/Unrealized Gains (Losses) Included in Net income	(1)
Total Realized/Unrealized Gains (Losses) Included in OCI	0
Purchases	0
Issuances	0
Sales	0
Settlements	0
Transfers in to Level 3	0
Transfers out of Level 3	(4)
Fair Value, Assets, ending balance	52
Change In Unrealized Gains (Losses) Included in Earnings	(1)
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0
Commercial mortgage-backed securities
Assets Rollforward:
Fair Value, Assets, beginning balance		64
Total Realized/Unrealized Gains (Losses) Included in Net income		0
Total Realized/Unrealized Gains (Losses) Included in OCI		1
Purchases		34
Issuances		0
Sales		0
Settlements		(1)
Transfers in to Level 3		0
Transfers out of Level 3		(21)
Fair Value, Assets, ending balance		77
Change In Unrealized Gains (Losses) Included in Earnings		0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		1
Asset-backed Securities [Member]
Assets Rollforward:
Fair Value, Assets, beginning balance		2,349
Total Realized/Unrealized Gains (Losses) Included in Net income		2
Total Realized/Unrealized Gains (Losses) Included in OCI		39
Purchases		160
Issuances		0
Sales		0
Settlements		(130)
Transfers in to Level 3		0
Transfers out of Level 3		(24)
Fair Value, Assets, ending balance		2,396
Change In Unrealized Gains (Losses) Included in Earnings		2
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI		39
Asset-backed Securities [Member] \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	52
Total Realized/Unrealized Gains (Losses) Included in Net income	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0
Purchases	5
Issuances	0
Sales	0
Settlements	(2)
Transfers in to Level 3	0
Transfers out of Level 3	0
Fair Value, Assets, ending balance	55
Change In Unrealized Gains (Losses) Included in Earnings	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0
Fixed maturities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	2,090
Total Realized/Unrealized Gains (Losses) Included in Net income	(1)
Total Realized/Unrealized Gains (Losses) Included in OCI	(19)
Purchases	72
Issuances	0
Sales	(9)
Settlements	(116)
Transfers in to Level 3	51
Transfers out of Level 3	(39)
Fair Value, Assets, ending balance	2,029
Change In Unrealized Gains (Losses) Included in Earnings	(1)
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	(23)
Equity securities, at fair value
Assets Rollforward:
Fair Value, Assets, beginning balance	96	196
Total Realized/Unrealized Gains (Losses) Included in Net income	3	(4)
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	99	192
Change In Unrealized Gains (Losses) Included in Earnings	2	(3)
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0	0
US Government Agencies Debt Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	1
US Government Agencies Debt Securities \| Available-for-sale Securities
Assets Rollforward:
Fair Value, Assets, beginning balance	1
Total Realized/Unrealized Gains (Losses) Included in Net income	0	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Transfers in to Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Assets, ending balance	1	1
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0	0
Contingent Consideration
Liabilities Rollforward:
Fair Value, Liabilities, Ending Balance	(51)	(112)
Total Realized/Unrealized Gains (Losses) Included in Net income	1	0
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	2	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Fair Value, Liabilities, Ending Balance	(48)	(112)
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	0	0
Assets held in separate accounts
Assets Rollforward:
Fair Value, Assets, beginning balance	348	347
Total Realized/Unrealized Gains (Losses) Included in Net income	0	4
Total Realized/Unrealized Gains (Losses) Included in OCI	0	0
Purchases	16	0
Issuances	0	0
Sales	(3)	(2)
Settlements	0	0
Transfers in to Level 3	5	0
Transfers out of Level 3	(6)	0
Fair Value, Assets, ending balance	360	349
Change In Unrealized Gains (Losses) Included in Earnings	0	0
Derivatives Rollforward:
Change In Unrealized Gains (Losses) Included in OCI	$ 0	$ 0

Fair Value Measurements (excluding Consolidated Investment Entities) - Other Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in separate accounts	$ 98,636	$ 93,133
Derivatives	332	371
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value (amortized cost of $26,979 and $27,690 as of 2024 and 2023, respectively; net of allowance for credit losses of $22 and $17 as of 2024 and 2023, respectively)	27,701	28,611
Equity securities	219	236
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185	2,165
Derivatives	378	311
Other investments	64	64
Assets held in separate accounts	98,636	93,133
Short-term debt	393	1
Long-term debt	1,707	2,097
Carrying Value \| Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	332	371
Carrying Value \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	59	61
Derivatives	47	49
Carrying Value \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	8	9
Carrying Value \| Funding agreements without fixed maturities and deferred annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	32,196	32,848
Carrying Value \| Funding agreements with fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	1,200	1,175
Carrying Value \| Supplementary contracts, immediate annuities and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	607	628
Carrying Value \| Mortgage loans on real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate loans	5,118	5,218
Carrying Value \| Policy loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate loans	349	352
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed maturities, available-for-sale, at fair value (amortized cost of $26,979 and $27,690 as of 2024 and 2023, respectively; net of allowance for credit losses of $22 and $17 as of 2024 and 2023, respectively)	27,701	28,611
Equity securities	219	236
Cash and cash equivalents, short-term investments and short-term investments under securities loan agreements	2,185	2,165
Derivatives	378	311
Other investments	64	64
Assets held in separate accounts	98,636	93,133
Short-term debt	387	1
Long-term debt	1,617	1,998
Estimate of Fair Value Measurement \| Derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	332	371
Estimate of Fair Value Measurement \| Embedded derivative on reinsurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	59	61
Derivatives	47	49
Estimate of Fair Value Measurement \| Stabilizer and MCGs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	8	9
Estimate of Fair Value Measurement \| Funding agreements without fixed maturities and deferred annuities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	33,978	34,856
Estimate of Fair Value Measurement \| Funding agreements with fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	1,206	1,178
Estimate of Fair Value Measurement \| Supplementary contracts, immediate annuities and other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guaranteed benefit derivatives	545	571
Estimate of Fair Value Measurement \| Mortgage loans on real estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate loans	4,831	4,941
Estimate of Fair Value Measurement \| Policy loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate loans	$ 349	$ 352

Deferred Policy Acquisition Costs and Value of Business Acquired - DAC and VOBA Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	$ 2,250
Ending balance	2,222
Movement Analysis Of Value of Business Acquired VOBA [Roll Forward]
Beginning balance	406	$ 439	$ 439
Deferrals of commissions and expenses	1		4
Net amortization included in Condensed Consolidated Statements of Operations	(9)		(37)
Ending balance	398
Present Value of Future Insurance Profits, Impairment Loss	0	0
Wealth Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	695	691	691
Deferrals of commissions and expenses	16		59
Net amortization included in the Consolidated Statements of Operations	(14)		(55)
Ending balance	697
business exited
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	938	1,043	1,043
Deferrals of commissions and expenses	0		0
Net amortization included in the Consolidated Statements of Operations	(26)		(105)
Ending balance	912
Other Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	47
Ending balance	47
Health Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Beginning balance	164	$ 144	144
Deferrals of commissions and expenses	12		49
Net amortization included in the Consolidated Statements of Operations	(8)		$ (29)
Ending balance	$ 168

Reserves for Future Policy Benefits and Contract Owner Account Balances (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) yr	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) yr
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	$ 9,427		$ 9,560
Current discount rate	4.20%
Policyholder Account Balance	$ 38,442		39,174
undiscounted expected gross premiums and future benefit payments [Line Items]
Policyholder Account Balance	38,442		39,174
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	39,174
Interest credited	246	$ 241
Policyholder Account Balance, Ending Balance	38,442		39,174
Net transfers from (to) separate accounts	(439)		(523)
Net liability for future policy benefits	9,427		9,560
Employee Benefits, Group
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning Balance	68	77	77
Beginning balance at original discount rate	71	84	84
Effect of change in cash flow assumptions	0		(6)
Effect of actual variances from expected experience	15		11
Adjusted balance at January 1	86		89
Interest accrual	1		2
Net premiums collected	5		20
Ending balance at original discount rate	82		71
Effects of changes in discount rate assumptions	(5)		(3)
Ending Balance	77		68
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning Balance	899	881	881
Beginning balance at original discount rate	918	913	913
Effect of change in cash flow assumptions	17		(8)
Effect of actual variances from expected experience	8		(16)
Adjusted balance at January 1	943		889
Issuances	32		136
Interest accrual	6		24
Benefit payments	36		131
Ending balance at original discount rate	945		918
Effects of changes in discount rate assumptions	29		19
Ending Balance	916		899
Net liability for future policy benefits	839		831
Less: Reinsurance recoverable	320		315
Net additional liability, after reinsurance recoverable	$ 519		$ 516
Weighted average duration (in years) \| yr	7		7
Interest accretion rate	4.00%		4.00%
Current discount rate	5.20%		4.90%
undiscounted expected gross premiums and future benefit payments [Line Items]
Expected future benefit payments, Undiscounted	$ 1,176		$ 1,144
Expected future gross premiums, Undiscounted	281		271
Expected future benefit payments, Discounted	945		918
Expected future gross premiums, Discounted	209		214
Policyholder Account Balance [Roll Forward]
Net liability for future policy benefits	839		831
Employee Benefits, Voluntary
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning Balance	101	97	97
Beginning balance at original discount rate	102	100	100
Effect of change in cash flow assumptions	0		6
Effect of actual variances from expected experience	3		8
Adjusted balance at January 1	105		114
Interest accrual	1		4
Net premiums collected	4		16
Ending balance at original discount rate	102		102
Effects of changes in discount rate assumptions	(3)		(1)
Ending Balance	99		101
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning Balance	307	285	285
Beginning balance at original discount rate	307	294	294
Effect of change in cash flow assumptions	1		13
Effect of actual variances from expected experience	4		9
Adjusted balance at January 1	312		316
Issuances	0		0
Interest accrual	4		14
Benefit payments	8		23
Ending balance at original discount rate	308		307
Effects of changes in discount rate assumptions	10		0
Ending Balance	298		307
Net liability for future policy benefits	199		206
Less: Reinsurance recoverable	0		0
Net additional liability, after reinsurance recoverable	$ 199		$ 206
Weighted average duration (in years) \| yr	15,000,000		14,000,000
Interest accretion rate	5.20%		5.20%
Current discount rate	5.50%		5.10%
undiscounted expected gross premiums and future benefit payments [Line Items]
Expected future benefit payments, Undiscounted	$ 671		$ 668
Expected future gross premiums, Undiscounted	343		341
Expected future benefit payments, Discounted	308		307
Expected future gross premiums, Discounted	214		213
Policyholder Account Balance [Roll Forward]
Net liability for future policy benefits	199		206
business exited
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning Balance	3,145	4,244	4,244
Beginning balance at original discount rate	2,992	4,128	4,128
Effect of change in cash flow assumptions	0		(921)
Effect of actual variances from expected experience	(93)		(91)
Adjusted balance at January 1	2,899		3,116
Interest accrual	41		196
Net premiums collected	79		320
Ending balance at original discount rate	2,861		2,992
Effects of changes in discount rate assumptions	81		153
Ending Balance	2,942		3,145
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning Balance	7,538	8,639	8,639
Beginning balance at original discount rate	7,404	8,644	8,644
Effect of change in cash flow assumptions	0		(805)
Effect of actual variances from expected experience	(115)		(123)
Adjusted balance at January 1	7,289		7,716
Issuances	6		17
Interest accrual	95		412
Benefit payments	173		741
Ending balance at original discount rate	7,217		7,404
Effects of changes in discount rate assumptions	19		(134)
Ending Balance	7,198		7,538
Net liability for future policy benefits	4,256		4,392
Less: Reinsurance recoverable	4,208		4,342
Net additional liability, after reinsurance recoverable	$ 48		$ 50
Weighted average duration (in years) \| yr	8,000,000		8,000,000
Interest accretion rate	4.90%		4.90%
Current discount rate	5.40%		5.10%
Policyholder Account Balance	$ 4,510		$ 4,635
undiscounted expected gross premiums and future benefit payments [Line Items]
Expected future benefit payments, Discounted	7,217		7,404
Policyholder Account Balance	4,510		4,635
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	4,635	5,146	5,146
Deposits	71		288
Fee income	(93)		(373)
Surrenders and withdrawals	149		577
Net transfers (from) to the general account	1		10
Interest credited	45		141
Policyholder Account Balance, Ending Balance	$ 4,510		$ 4,635
Weighted-average crediting rate	3.70%		2.50%
Net amount at risk	$ 707		$ 734
Cash surrender value	1,416		1,491
Net liability for future policy benefits	4,256		4,392
business exited, additional liability
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning Balance	2,107
Effect of change in cash flow assumptions	0		(44)
Effect of actual variances from expected experience	20		(100)
Adjusted balance at January 1	2,021		1,963
Interest accrual	21		84
Benefit payments	107		417
Assessments	43		371
Ending Balance	2,001		2,107
Net liability for future policy benefits	1,978		2,001
Less: Reinsurance recoverable	1,927		1,950
Net additional liability, after reinsurance recoverable	51		51
Policyholder Account Balance [Roll Forward]
Net liability for future policy benefits	1,978		2,001
business exited, other
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	1,334		1,335
Policyholder Account Balance [Roll Forward]
Net liability for future policy benefits	1,334		1,335
Other Segments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for future policy benefits	821		795
Policyholder Account Balance	926		950
undiscounted expected gross premiums and future benefit payments [Line Items]
Policyholder Account Balance	926		950
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	950
Policyholder Account Balance, Ending Balance	926		950
Net liability for future policy benefits	821		795
Wealth Solutions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Policyholder Account Balance	30,571		31,139
undiscounted expected gross premiums and future benefit payments [Line Items]
Policyholder Account Balance	30,571		31,139
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	31,139	$ 33,622	33,622
Deposits	631		2,309
Fee income	(11)		(9)
Surrenders and withdrawals	1,354		5,663
Net transfers (from) to the general account	(47)		(5)
Interest credited	213		885
Policyholder Account Balance, Ending Balance	$ 30,571		$ 31,139
Weighted-average crediting rate	2.80%		2.80%
Net amount at risk	$ 98		$ 123
Cash surrender value	30,114		30,676
Net transfers from (to) separate accounts	(392)		(518)
Non-puttable funding agreement
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Policyholder Account Balance	1,200		1,175
undiscounted expected gross premiums and future benefit payments [Line Items]
Policyholder Account Balance	1,200		1,175
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	1,175
Policyholder Account Balance, Ending Balance	1,200		1,175
Business Exited Excluded
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Policyholder Account Balance	1,235		1,275
undiscounted expected gross premiums and future benefit payments [Line Items]
Policyholder Account Balance	1,235		1,275
Policyholder Account Balance [Roll Forward]
Policyholder Account Balance, Beginning Balance	1,275
Policyholder Account Balance, Ending Balance	$ 1,235		$ 1,275

Reserves for Future Policy Benefits and Contract Owner Account Balances - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 38,442	$ 39,174
Liability for Future Policy Benefit, Activity [Line Items]
Current discount rate	4.20%
Net transfers from (to) separate accounts	$ (439)	(523)
Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	12,401	12,528
1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	692	725
2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	11,136	11,492
3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	8,891	9,031
4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,620	1,649
Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	415	431
Total discretionary rate setting products
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	35,155	35,856
At GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	22,160	22,739
At GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	108	120
At GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	504	527
At GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	10,867	11,225
At GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	8,731	8,873
At GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,538	1,566
At GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	412	428
Up to .50% Above GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	5,261	5,529
Up to .50% Above GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	4,812	5,070
Up to .50% Above GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	120	131
Up to .50% Above GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	95	93
Up to .50% Above GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	152	152
Up to .50% Above GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	82	83
Up to .50% Above GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
0.51% - 1.00% Above GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	3,754	3,573
0.51% - 1.00% Above GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	3,641	3,460
0.51% - 1.00% Above GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	50	50
0.51% - 1.00% Above GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	63	63
0.51% - 1.00% Above GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
0.51% - 1.00% Above GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
0.51% - 1.00% Above GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
1.01% - 1.50% Above GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,154	2,337
1.01% - 1.50% Above GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	2,030	2,215
1.01% - 1.50% Above GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	9	8
1.01% - 1.50% Above GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	107	108
1.01% - 1.50% Above GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	8	6
1.01% - 1.50% Above GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
1.01% - 1.50% Above GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
1.51% - 2.00% Above GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,028	869
1.51% - 2.00% Above GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	1,022	863
1.51% - 2.00% Above GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	3	3
1.51% - 2.00% Above GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
1.51% - 2.00% Above GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance		0
1.51% - 2.00% Above GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
1.51% - 2.00% Above GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	3	3
More than 2.00% Above GMIR
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	798	809
More than 2.00% Above GMIR \| Up to 1.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	788	800
More than 2.00% Above GMIR \| 1.01% - 2.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	6	6
More than 2.00% Above GMIR \| 2.01% - 3.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	4	3
More than 2.00% Above GMIR \| 3.01% - 4.00%
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
More than 2.00% Above GMIR \| 4.01% and Above
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	0	0
More than 2.00% Above GMIR \| Renewable beyond 12 months (MYGA)
Policyholder Account Balance, Guaranteed Minimum Crediting Rate [Line Items]
Policyholder Account Balance	$ 0	$ 0

Reinsurance - Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Assets
Premiums receivable, direct	$ 252		$ 193
Premiums Receivable, assumed	12		9
Premiums receivable, ceded	(248)		(219)
Premiums receivable, net of reinsurance	16		(17)
Reinsurance recoverable, net of allowance for credit losses, ceded	11,812		11,999
Reinsurance recoverable, net of allowance for credit losses, net	11,812		11,999
Total assets, direct	252		193
Total assets, assumed	12		9
Total assets, ceded	11,564		11,780
Premiums Receivable And Reinsurance Recoverables, Including Reinsurance Premium Paid	11,828		11,982
Liabilities
Future policy benefits and contract owner account balances, direct	46,936		47,781
Future policy benefits and contract owner account balances, assumed	933		953
Future policy benefits and contract owner account balances, net	47,869		48,734
Liability for funds withheld under reinsurance agreements, direct	107		103
Liability for funds withheld under reinsurance agreements, net	107		103
Total liabilities, direct	47,043		47,884
Total liabilities, assumed	933		953
Total liabilities, net	47,976		$ 48,837
Fee income	$ 513	$ 464

Reinsurance - Effect of Reinusance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Premiums Earned, Net [Abstract]
Direct Premiums Earned	$ 1,029	$ 908
Assumed Premiums Earned	7	10
Ceded Premiums Earned	236	233
Premiums	800	685
Policyholder Benefits and Claims Incurred, Net [Abstract]
Revenue from Contract with Customer, Including Assessed Tax	608	562
Assumed Insurance Commissions and Fees	4	4
Ceded Insurance Commissions And Fees	99	102
Fee income	513	464
Policyholder Benefits and Claims Incurred, Assumed and Ceded [Abstract]
Policyholder Benefits and Claims Incurred, Direct	1,181	1,108
Policyholder Benefits and Claims Incurred, Assumed	19	19
Policyholder Benefits and Claims Incurred, Ceded	349	376
Policyholder Interest and Other Benefits, Net	$ 851	$ 751
Deposit asset			$ 1,200

Separate Accounts (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
Separate Accounts (Details) - USD ($) $ in Millions	Mar. 31, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	$ 98,636		$ 93,133
Liabilities related to separate accounts	98,636		93,133
Net transfers from (to) separate accounts	(439)		(523)
Wealth Solutions
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities related to separate accounts	94,729		89,485	$ 76,348
Separate Account, Liability, Premium and Deposit	2,867	$ 10,992
Separate Account, Liability, Policy Charge	124	460
Separate Account, Liability, Surrender and Withdrawal	3,348		10,973
Separate Account, Liability, Increase (Decrease) from Invested Performance	6,241		14,096
Separate Account, Liability, Cash Surrender Value, Amount	87,637		82,286
Net transfers from (to) separate accounts	(392)		(518)
Wealth Solutions \| Wealth Solutions Stabilizer
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities related to separate accounts	7,069		7,175	7,196
Separate Account, Liability, Premium and Deposit	281	940
Separate Account, Liability, Policy Charge	8	34
Separate Account, Liability, Increase (Decrease) from Invested Performance	0	415
Separate Account, Liability, Surrender	(379)		(1,342)
Net transfers from (to) separate accounts	0		0
Wealth Solutions \| Deferred Variable Annuity
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities related to separate accounts	87,660		82,310	$ 69,152
Separate Account, Liability, Premium and Deposit	2,586	10,052
Separate Account, Liability, Policy Charge	116	426
Separate Account, Liability, Increase (Decrease) from Invested Performance	6,241	$ 13,681
Separate Account, Liability, Surrender	(2,969)		(9,631)
Net transfers from (to) separate accounts	(392)		(518)
Other Segments
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities related to separate accounts	3,907		3,648
U.S. Government agencies and authorities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	902		1,015
Separate Account, Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	289		399
Separate Account, Mortgage-Backed Security \| Mortgage-Backed Securities, Issued by Private Enterprises
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	3,191		3,231
Separate Account, Equity Security
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	91,493		85,916
Asset-Backed Securities, Securitized Loans and Receivables
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	73		44
Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held in separate accounts	$ 2,688		$ 2,528

Segments - Narrative (Details)	3 Months Ended
Segments - Narrative (Details)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	3

Segments - Operating Earnings Before Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Income (loss) attributable to noncontrolling interests	$ 37	$ 46
Less: Preferred stock dividends	17	14
Total adjustments to income (loss) before income taxes	287	141
Adjustments
Segment Reporting Information [Line Items]
Net investment gains (losses) and related charges and adjustments	63	(9)
Income (loss) related to businesses exited or to be exited through reinsurance or divestment	(32)	(33)
Other adjustments	(22)	(70)
Total adjustments to income (loss) before income taxes	63	(51)
Operating Segments
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	224	192
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax	235	200
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	11	8
Operating Segments \| Wealth Solutions
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	186	132
Operating Segments \| Investment Management
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	53	42
Operating Segments \| Health Solutions
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	59	94
Operating Segments \| Corporate
Segment Reporting Information [Line Items]
Adjusted operating earnings before income taxes	$ (64)	$ (69)

Segments - Operating Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 2,051	$ 1,835
Adjustments
Segment Reporting Information [Line Items]
Total revenues	188	137
Net investment gains (losses) and related charges and adjustments	47	(14)
Revenues related to businesses exited or to be exited through reinsurance or divestment	24	30
Revenues attributable to noncontrolling interests	65	60
Other adjustments	52	60
Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,863	1,697
Operating Segments \| Wealth Solutions
Segment Reporting Information [Line Items]
Total revenues	719	684
Operating Segments \| Investment Management
Segment Reporting Information [Line Items]
Total revenues	234	229
Operating Segments \| Health Solutions
Segment Reporting Information [Line Items]
Total revenues	905	774
Operating Segments \| Corporate
Segment Reporting Information [Line Items]
Total revenues	4	11
Intersegment \| Investment Management
Segment Reporting Information [Line Items]
Total revenues	$ 20	$ 22

Segments - Total Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 161,631	$ 157,085
Noncontrolling Interest
Segment Reporting Information [Line Items]
Total assets	4,279	4,304
Total \| Parent
Segment Reporting Information [Line Items]
Total assets	157,352	152,781
Corporate
Segment Reporting Information [Line Items]
Total assets	25,418	25,527
Operating Segments \| Wealth Solutions
Segment Reporting Information [Line Items]
Total assets	126,883	122,318
Operating Segments \| Investment Management
Segment Reporting Information [Line Items]
Total assets	1,656	1,600
Operating Segments \| Health Solutions
Segment Reporting Information [Line Items]
Total assets	$ 3,395	$ 3,336

Share-based Incentive Compensation Plans - Narrative (Details)	Mar. 31, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	7,373,481

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)(2)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

Share-based Incentive Compensation Plans - Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 39	$ 63
Income tax benefit	10	15
After-tax share-based compensation expense	29	48
Restricted Stock Unit (RSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	23	37
Performance Stock Unit (PSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 16	$ 26

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 35
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+ Details

Share-based Incentive Compensation Plans - Awards Outstanding (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
RSU awards
Number of Awards
Outstanding, beginning balance (in shares) \| shares	2,000,000.0
Adjustment for PSU performance factor (in shares) \| shares	0
Granted (in shares) \| shares	800,000
Vested (in shares) \| shares	(700,000)
Forfeited (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	2,100,000
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (usd per share) \| $ / shares	$ 67.06
Adjustment for PSU performance factor (usd per share) \| $ / shares	0
Granted (usd per share) \| $ / shares	67.51
Vested (usd per share) \| $ / shares	65.20
Forfeited (usd per share) \| $ / shares	69.87
Outstanding, ending balance (usd per share) \| $ / shares	$ 67.69
PSU awards
Number of Awards
Outstanding, beginning balance (in shares) \| shares	2,200,000
Adjustment for PSU performance factor (in shares) \| shares	100,000
Granted (in shares) \| shares	700,000
Vested (in shares) \| shares	(500,000)
Forfeited (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	2,300,000
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (usd per share) \| $ / shares	$ 61.17
Adjustment for PSU performance factor (usd per share) \| $ / shares	46.94
Granted (usd per share) \| $ / shares	59.21
Vested (usd per share) \| $ / shares	52.71
Forfeited (usd per share) \| $ / shares	44.96
Outstanding, ending balance (usd per share) \| $ / shares	$ 63.57
Stock options
Number of Awards
Outstanding, beginning balance (in shares) \| shares	1,200,000
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	0
Forfeited (in shares) \| shares	0
Outstanding, ending balance (in shares) \| shares	1,200,000
Vested, exercisable (in shares) \| shares	1,200,000
Weighted Average Exercise Price
Outstanding, beginning balance (usd per share) \| $ / shares	$ 44.79
Granted (usd per share) \| $ / shares	0
Exercised (usd per share) \| $ / shares	47.48
Forfeited (usd per share) \| $ / shares	0
Outstanding, ending balance (usd per share) \| $ / shares	44.68
Vested, exercisable, weighted average exercise price (usd per share) \| $ / shares	$ 44.68

Shareholders' Equity - Common Stock Rollforward (Details) - shares	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued, beginning balance (in shares)	103,584,699
Common shares, held in treasury, beginning balance (in shares)	730,130
Common shares, beginning balance (in shares)	102,854,569
Common stock acquired - share repurchase (in shares)	2,400,000	5,400,000
Share-based compensation programs (in shares)	800,000	1,400,000
Treasury Stock retirement (in shares)		0
Common stock, shares issued, ending balance (in shares)	104,950,844
Common shares, held in treasury, ending balance (in shares)	3,659,364
Common shares, ending balance (in shares)	101,291,480
Common Stock
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued, beginning balance (in shares)	103,600,000	97,800,000
Common shares, beginning balance (in shares)	102,900,000	97,200,000
Common shares issued (in shares)	0	9,700,000
Common stock acquired - share repurchase (in shares)	0	0
Share-based compensation programs (in shares)	1,300,000	2,100,000
Treasury Stock retirement (in shares)		(6,000,000.0)
Common stock, shares issued, ending balance (in shares)	104,900,000
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Common shares, held in treasury, beginning balance (in shares)	(700,000)	(600,000)
Common shares issued (in shares)	0	0
Common stock acquired - share repurchase (in shares)	2,400,000	5,400,000
Share-based compensation programs (in shares)	500,000	700,000
Treasury Stock retirement (in shares)		(6,000,000.0)
Common shares, held in treasury, ending balance (in shares)	3,600,000

Shareholders' Equity - Common stock Dividends Declared (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity [Abstract]
Dividends declared per share of Common Stock (usd per share)	$ 0.40	$ 0.20

Shareholders' Equity - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	May 06, 2024	Mar. 31, 2024	Jun. 30, 2023	Apr. 23, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Remaining authorized repurchase amount		$ 225
Common stock acquired - share repurchase (in shares)		2,400,000	5,400,000
Payment for share repurchases		$ 172
Preferred Stock, shares authorized (in shares)		100,000,000			100,000,000
Preferred Stock, amount of preferred dividends in arrears		$ 0
Subsequent Event
Class of Stock [Line Items]
Amount authorized for repurchase				$ 500
Common stock acquired - share repurchase (in shares)	802,725
Payment for share repurchases	$ 56

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Shareholders' Equity - Summary of Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Equity [Abstract]
Payment for share repurchases	$ 172
Common stock acquired - share repurchase (in shares)	2.4	5.4

Shareholders' Equity - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Class of Stock [Line Items]
Aggregate (in shares)	$ 17	$ 14
Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares issued (in shares)	625,000		625,000
Preferred Stock, shares outstanding (in shares)	625,000		625,000
Series A Preferred Stock
Class of Stock [Line Items]
Dividend rate, percentage	7.758%
Preferred Stock, shares issued (in shares)	325,000		325,000
Preferred Stock, shares outstanding (in shares)	325,000		325,000
Per Share (usd per share)	$ 38.790	$ 30.625
Aggregate (in shares)	$ 13	$ 10
Series B Preferred Stock
Class of Stock [Line Items]
Dividend rate, percentage	5.35%
Preferred Stock, shares issued (in shares)	300,000		300,000
Preferred Stock, shares outstanding (in shares)	300,000		300,000
Per Share (usd per share)	$ 13.375	$ 13.375
Aggregate (in shares)	$ 4	$ 4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income (loss) available to common shareholders:
Income (loss) from continuing operations	$ 288	$ 129
Less: Preferred stock dividends	17	14
Less: Net income (loss) attributable to noncontrolling interest	37	46
Net income (loss) available to common shareholders	$ 234	$ 69
Weighted average common shares outstanding
Basic (in shares)	102.1	97.7
Dilutive Effects:
Diluted (in shares)	104.5	109.6
Net income (loss) available to Voya Financial, Inc.'s common shareholders per common share:
Basic (usd per share)	$ 2.29	$ 0.70
Diluted (usd per share)	$ 2.24	$ 0.63
Warrant
Dilutive Effects:
Dilutive Effects (in shares)	0.0	8.9
RSU awards
Dilutive Effects:
Dilutive Effects (in shares)	1.2	1.2
PSU awards
Dilutive Effects:
Dilutive Effects (in shares)	0.8	1.2
Stock options
Dilutive Effects:
Dilutive Effects (in shares)	0.4	0.6

Accumulated Other Comprehensive Income (Loss) - Components of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fixed maturities, net of impairment	$ (2,498)		$ (2,635)
DAC/VOBA adjustment on available-for-sale securities	67		109
AOCI, Liability for Future Policy Benefit, before Tax	(853)		(855)
Deferred income tax asset (liability)(2)	813		833
Total	(2,471)		(2,548)
Pension and other postretirement benefits liability, net of tax	2		3
AOCI	(2,469)	$ (2,400)	$ (2,545)
Other Contract
Accumulated Other Comprehensive Income (Loss) [Line Items]
Portion of AOCI expected to be reclassified into earnings within next 12 months	$ 14

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI, including Reclassification Adjustments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Available-for-sale securities, Before-Tax Amount:
Fixed maturities	$ (145)	$ 661
Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	16	(1)
Change in unrealized gains/losses on available-for-sale securities	(129)	660
Available-for-sale securities, Income Tax:
Fixed maturities	30	(139)
Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	(3)	0
Change in unrealized gains/losses on available-for-sale securities	27	(139)
Available-for-sale securities, After-Tax Amount:
Fixed maturities	(115)	522
Adjustments for amounts recognized in Net gains (losses) in the Condensed Consolidated Statements of Operations	13	(1)
Change in unrealized gains/losses on available-for-sale securities	(102)	521
Derivatives, Before-Tax Amount:
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	8	(12)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(4)	(5)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax, Total	4	(17)
Derivatives, Income Tax:
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(2)	3
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax	1	1
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax, Total	1	(4)
Derivatives, After-Tax Amount:
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	6	(9)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(3)	(4)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Total	3	(13)
Change in current discount rate	38	2
AOCI, Liability for Future Policy Benefit, Expected Future Policy Benefit, before Tax	(8)	0
OCI, Liability for Future Policy Benefit, Gain (Loss), after Reclassification Adjustment and Tax	30	2
Other comprehensive income (loss), before tax	(87)	645
Other comprehensive income (loss), tax	18	(135)
Other comprehensive income (loss), after tax	$ (69)	$ 510

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	$ 519	$ 476
Revenue from other sources	82	66
Total fee income and other revenue	601	542
Net receivables	319		$ 339
Wealth Solutions
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	143	121
Wealth Solutions \| DistributionFeesMember [Member]
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	34	29
Investment Management
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	242	229
Investment Management \| DistributionFeesMember [Member]
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	39	32
Health Solutions
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	5	6
Benefitfocus
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	54	47
Corporate
Disaggregation of Revenue [Line Items]
Total financial services and software subscriptions and services revenue	$ 2	$ 12

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Net Investment Income [Line Items]
Effective tax rate	(0.30%)	8.50%
Income tax expense (benefit)	$ (1)	$ 12
Net gains (losses)	43	(16)
Unrealized gains (losses) on securities	(125)	643
SLD
Net Investment Income [Line Items]
Income tax expense (benefit)	$ 38	$ 92

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Financing Agreements - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 17, 2015
Debt Instrument [Line Items]
Long-term debt	$ 2,100	$ 2,098
Less: Current portion of long-term debt	393	1
Total long-term debt, excluding current portion	1,707	2,097
Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt			1.875%
Senior Notes \| 3.976% Senior Notes, Due 2025
Debt Instrument [Line Items]
Long-term debt	$ 393	390
Annual interest rate on debt	3.976%
Senior Notes \| 3.65% Senior Notes, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 445	446
Annual interest rate on debt	3.65%
Senior Notes \| 5.7% Senior Notes, due 2043
Debt Instrument [Line Items]
Long-term debt	$ 396	396
Annual interest rate on debt	5.70%
Senior Notes \| 4.8% Senior Notes, due 2046
Debt Instrument [Line Items]
Long-term debt	$ 297	297
Annual interest rate on debt	4.80%
Junior Subordinated Notes \| 4.7% Fixed-to-Floating Rate Junior Subordinated Notes, due 2048
Debt Instrument [Line Items]
Long-term debt	$ 336	336
Annual interest rate on debt	4.70%
Debentures \| 7.63% Voya Holdings Inc. debentures, due 2026
Debt Instrument [Line Items]
Long-term debt	$ 139	139
Annual interest rate on debt	7.63%
Debentures \| 6.97% Voya Holdings Inc. debentures, due 2036
Debt Instrument [Line Items]
Long-term debt	$ 79	79
Annual interest rate on debt	6.97%
Notes payable, other \| 8.42% Equitable of Iowa Companies Capital Trust II Notes, due 2027
Debt Instrument [Line Items]
Long-term debt	$ 13	13
Annual interest rate on debt	8.42%
Loans payable \| 1.00% Windsor Property Loan
Debt Instrument [Line Items]
Long-term debt	$ 2	$ 2
Annual interest rate on debt	1.00%

Financing Agreements - Narrative (Details) - USD ($)		3 Months Ended
Financing Agreements - Narrative (Details) - USD ($)	Mar. 17, 2015	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	May 03, 2023	May 01, 2023	May 16, 2013
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures		$ 2,100,000,000		$ 2,098,000,000
Maximum borrowing capacity		512,000,000
Line of credit outstanding		12,000,000
Business Agreement, Processing and Operation Services Period	10 years
Put Option Agreement, Face Amount	$ 500,000,000	100,000,000
Line of Credit Facility, Remaining Borrowing Capacity		500,000,000
Payments of Financing Costs		0	$ 0
Aetna Notes
Debt Instrument [Line Items]
Amount of letters of credit outstanding		12,000,000
Revolving Credit agreement
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000
Minimum net worth required for compliance						$ 4,998,000,000
Unsecured and Committed [Member] \| Voya Financial, Inc.
Debt Instrument [Line Items]
Maximum borrowing capacity		500,000,000
Line of credit outstanding		0
Line of Credit Facility, Remaining Borrowing Capacity		500,000,000
Unsecured and Committed [Member] \| Voya Financial, Inc. Three
Debt Instrument [Line Items]
Maximum borrowing capacity		12,000,000		200,000,000
Line of credit outstanding		12,000,000
Line of Credit Facility, Remaining Borrowing Capacity		0
Voya Holdings Debentures \| Aetna Notes
Debt Instrument [Line Items]
Amount of collateral for credit facility		225,000,000
Amount of collateral deposited to a control account		213,000,000
Short-term Debt \| Revolving Credit agreement
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 25,000,000
Five Point Six Five Percentage Fixed-to-Floating Rate Junior Subordinated Note Due 2053
Debt Instrument [Line Items]
Annual interest rate on debt							5.65%
U.S. Treasuries
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 400,000,000
Revolving Credit agreement
Debt Instrument [Line Items]
Line of credit outstanding		0
Debentures \| Voya Holdings Debentures
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures		218,000,000
Debentures \| 7.63% Voya Holdings Inc. debentures, due 2026
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures		$ 139,000,000		139,000,000
Annual interest rate on debt		7.63%
Debentures \| 6.97% Voya Holdings Inc. debentures, due 2036
Debt Instrument [Line Items]
Outstanding par amount of guaranteed debentures		$ 79,000,000		$ 79,000,000
Annual interest rate on debt		6.97%
Revolving Credit agreement
Debt Instrument [Line Items]
Amount of letters of credit outstanding		$ 0
Line of credit outstanding		$ 0
Senior Notes
Debt Instrument [Line Items]
Annual interest rate on debt	1.875%
Senior Notes \| Pre-Capitalized Trust
Debt Instrument [Line Items]
Annual interest rate on debt	3.976%
Debt Instrument, Face Amount					$ 400,000,000

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Possible losses in excess of amounts accrued	$ 100
Potential future loss	91
Pledged Collateral	1,803		$ 1,956
Impairment of right-of-use asset	0	$ 2
Securities Loaned
Loss Contingencies [Line Items]
Securities pledged as collateral	201		201
Federal Home Loan Bank \| Line of Credit
Loss Contingencies [Line Items]
Non-putable funding agreements issued to FHLB	1,200		1,175
Pledged Collateral	1,803		$ 1,956
Acquisition of mortgage loans
Loss Contingencies [Line Items]
Amount of purchase commitments	66
Purchase of limited partnership and private placement investments
Loss Contingencies [Line Items]
Amount of purchase commitments	975
Purchase of limited partnership and private placement investments \| VOEs
Loss Contingencies [Line Items]
Amount of purchase commitments	$ 328

Commitments and Contingencies - Restricted Assets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Fixed maturity collateral pledged to FHLB	$ 1,803	$ 1,956
FHLB restricted stock	63	64
Other fixed maturities-state deposits	37	37
Cash and cash equivalents	15	25
Total restricted assets	3,145	3,242
Collateral Pledged
Loss Contingencies [Line Items]
Securities pledged	1,227	1,160
Securities pledged as collateral
Loss Contingencies [Line Items]
Fair value of loaned securities	912	842
Securities pledged under repurchase agreements, carrying value	$ 114	$ 117

Consolidated and Nonconsolidated Investment Entities - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) loan fund CLO	Dec. 31, 2023 USD ($) fund CLO
Variable Interest Entity [Line Items]
Consolidated collateral loan obligations \| CLO	7	5
Limited Partnerships life	10 years
Consolidated funds \| fund	11
Noncontrolling interest	$ 1,544	$ 1,685
Number of investment funds accounted for as voting interest entity \| fund	0	0
Maximum borrowing capacity	$ 512
Line of credit outstanding	12
Fair value transfers	$ 0
Number of deconsolidated investment entities \| loan	0
Consolidated Investment Entities
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 343	$ 316
VIE, Corporate Loan Investments \| Senior secured corporate loans
Variable Interest Entity [Line Items]
Unpaid principal exceeds fair value, amount	$ 32	46
Default of collateral assets, percentage	1.00%
VIE, Corporate Loan Investments \| Maximum \| Senior secured corporate loans \| LIBOR, SOFR, EURIBOR or PRIME
Variable Interest Entity [Line Items]
Loans receivable basis spread	7.70%
VIEs
Variable Interest Entity [Line Items]
Investment in unconsolidated partnerships	$ 2,881	2,861
VIEs \| Senior secured corporate loans
Variable Interest Entity [Line Items]
Default of collateral assets, percentage	1.00%
VIE, CLO Notes \| Senior secured corporate loans
Variable Interest Entity [Line Items]
Weighted average maturity on debt	12 years
VIE, CLO Notes \| Maximum \| Senior secured corporate loans \| LIBOR, EURIBOR or SOFR
Variable Interest Entity [Line Items]
Basis spread on notes	9.60%
VIE, CLO Notes \| Minimum \| Senior secured corporate loans \| LIBOR, EURIBOR or SOFR
Variable Interest Entity [Line Items]
Basis spread on notes	1.00%
VIE, Private Equity Funds
Variable Interest Entity [Line Items]
Maximum borrowing capacity	$ 1,313	1,330
Renewal period for term loan	3 years
Line of credit outstanding	$ 1,216	1,198
VIE, Private Equity Funds \| Maximum
Variable Interest Entity [Line Items]
Basis spread on notes	2.40%
VIE, Private Equity Funds \| Minimum
Variable Interest Entity [Line Items]
Basis spread on notes	1.40%
Nonconsolidated VIEs
Variable Interest Entity [Line Items]
Amount of ownership interest in unconsolidated CLOs	$ 383
Excluding consolidated VIEs
Variable Interest Entity [Line Items]
Investment in unconsolidated partnerships	$ 1,708	$ 1,621

Consolidated and Nonconsolidated Investment Entities - Fair Value Hierarchy (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value transfers	$ 0
VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
CLO notes	1,368	$ 1,332
Measured at fair value on a recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	4,586	4,446
Total liabilities	1,368	1,332
Measured at fair value on a recurring basis \| VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	180	181
Corporate loans	1,500	1,404
Assets at NAV	2,881	2,861
CLO notes	1,368	1,332
Measured at fair value on a recurring basis \| VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1
Assets at NAV	24
Measured at fair value on a recurring basis \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	181	181
Total liabilities	0	0
Measured at fair value on a recurring basis \| Level 1 \| VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	180	181
Corporate loans	0	0
CLO notes	0	0
Measured at fair value on a recurring basis \| Level 1 \| VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	1
Measured at fair value on a recurring basis \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	1,500	1,404
Total liabilities	1,368	1,332
Measured at fair value on a recurring basis \| Level 2 \| VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Corporate loans	1,500	1,404
CLO notes	1,368	1,332
Measured at fair value on a recurring basis \| Level 2 \| VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0
Measured at fair value on a recurring basis \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	0	0
Total liabilities	0	0
Measured at fair value on a recurring basis \| Level 3 \| VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Corporate loans	0	0
CLO notes	0	0
Measured at fair value on a recurring basis \| Level 3 \| VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0
Measured at fair value on a recurring basis \| NAV
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total assets	2,905	2,861
Measured at fair value on a recurring basis \| NAV \| VIEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at NAV	2,881	$ 2,861
Measured at fair value on a recurring basis \| NAV \| VOEs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at NAV	$ 24

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 748.0	$ 327.0
Additions from business combinations	0.0	421.0
Goodwill, Ending Balance	748.0
Wealth
Goodwill [Roll Forward]
Goodwill, Beginning Balance	17.0	17.0
Additions from business combinations	0.0	0.0
Goodwill, Ending Balance	17.0
Health Solutions
Goodwill [Roll Forward]
Goodwill, Beginning Balance	343.0	24.0
Additions from business combinations	0.0	319.0
Goodwill, Ending Balance	343.0
Investment Management
Goodwill [Roll Forward]
Goodwill, Beginning Balance	286.0	286.0
Additions from business combinations	0.0	0.0
Goodwill, Ending Balance	286.0
Corporate
Goodwill [Roll Forward]
Goodwill, Beginning Balance	102.0	0.0
Additions from business combinations	0.0	$ 102.0
Goodwill, Ending Balance	102.0
Corporate \| Health Solutions
Goodwill [Roll Forward]
Goodwill, Ending Balance	$ 20.0

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Indefinite-life intangibles, Gross Carrying Amount	$ 350.0		$ 350.0
Finite-life intangibles, Gross Carrying Amount	1,371.0			$ 1,344.0
Finite-life intangibles, Accumulated Amortization	510.0			487.0
Finite-life intangibles, Net Carrying Amount	861.0			857.0
Amortization of intangible assets	23.0	$ 20.0
Goodwill	748.0			748.0	$ 327.0
Corporate
Finite-Lived Intangible Assets [Line Items]
Goodwill	102.0			102.0	$ 0.0
Wealth \| Corporate
Finite-Lived Intangible Assets [Line Items]
Goodwill	72.0
Investment Management \| Corporate
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 10.0
Contractual Rights
Finite-Lived Intangible Assets [Line Items]
Finite-life intangibles, Weighted Average Amortization Lives	15 years
Finite-life intangibles, Gross Carrying Amount	$ 153.0			153.0
Finite-life intangibles, Accumulated Amortization	14.0			11.0
Finite-life intangibles, Net Carrying Amount	$ 139.0			142.0
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-life intangibles, Weighted Average Amortization Lives	17 years
Finite-life intangibles, Gross Carrying Amount	$ 325.0			325.0
Finite-life intangibles, Accumulated Amortization	132.0			128.0
Finite-life intangibles, Net Carrying Amount	$ 193.0			197.0
Computer software
Finite-Lived Intangible Assets [Line Items]
Finite-life intangibles, Weighted Average Amortization Lives	4 years
Finite-life intangibles, Gross Carrying Amount	$ 528.0			501.0
Finite-life intangibles, Accumulated Amortization	362.0			346.0
Finite-life intangibles, Net Carrying Amount	$ 166.0			155.0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Finite-life intangibles, Weighted Average Amortization Lives	8 years
Finite-life intangibles, Gross Carrying Amount	$ 15.0			15.0
Finite-life intangibles, Accumulated Amortization	2.0			2.0
Finite-life intangibles, Net Carrying Amount	13.0			$ 13.0
Customer Lists
Finite-Lived Intangible Assets [Line Items]
Indefinite-life intangibles, Gross Carrying Amount	345.0		345.0
Contractual Rights
Finite-Lived Intangible Assets [Line Items]
Indefinite-life intangibles, Gross Carrying Amount	$ 5.0		$ 5.0

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents	us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	$ 1,118,000,000