Equitable (EQH) 10-Q8 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	May 04, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38469
Entity Registrant Name	Equitable Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-0226248
Entity Address, Address Line One	1290 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10104
City Area Code	212
Local Phone Number	554-1234
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		356,083,251
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Amendment Flag	false
Entity Central Index Key	0001333986
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	EQH
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series A
Trading Symbol	EQH PR A
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C
Trading Symbol	EQH PR C
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Investments [Abstract]
Fixed maturities available-for-sale, at fair value (amortized cost of $73,061 and $72,991) (allowance for credit losses of $18 and $24)		$ 65,065	$ 63,361
Fixed maturities, at fair value using the fair value option	[1]	1,543	1,508
Mortgage loans on real estate (net of allowance for credit losses of $139 and $129)	[1]	16,969	16,481
Policy loans		4,028	4,033
Other equity investments	[1]	3,179	3,152
Trading securities, at fair value		828	677
Other invested assets	[1]	4,611	3,885
Total investments		96,223	93,097
Cash and cash equivalents	[1]	5,018	4,281
Cash and securities segregated, at fair value		1,055	1,522
Broker-dealer related receivables		2,203	2,338
Deferred policy acquisition costs		6,419	6,369
Goodwill and other intangible assets, net		5,478	5,482
Amounts due from reinsurers (allowance for credit losses of $0 and $10)	[2]	8,453	8,471
Current and deferred income taxes		1,294	781
Purchased market risk benefits		10,676	10,423
Other assets	[1]	3,629	4,033
Assets held-for-sale		671	562
Assets for market risk benefits		629	490
Separate Accounts assets		119,752	114,853
Total Assets		261,500	252,702
Liabilities [Abstract]
Policyholders’ account balances		86,761	83,866
Liability for market risk benefits		15,061	15,766
Future policy benefits and other policyholders' liabilities		16,738	16,603
Broker-dealer related payables		888	715
Customer related payables		2,595	3,323
Amounts due to reinsurers		1,428	1,533
Short-term debt		751	759
Long-term debt		3,819	3,322
Notes issued by consolidated variable interest entities, at fair value using the fair value option	[1]	1,169	1,150
Other liabilities	[1]	6,296	7,108
Liabilities held-for-sale		158	108
Separate Accounts liabilities		119,752	114,853
Liabilities, Total		255,416	249,106
Redeemable noncontrolling interest	[1],[3]	613	455
Commitments and contingent liabilities	[4]
Equity attributable to Holdings:
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference		1,562	1,562
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 505,641,286 and 508,418,442 shares issued, respectively; 359,089,998 and 365,081,940 shares outstanding, respectively		4	4
Additional paid-in capital		2,298	2,299
Treasury stock, at cost, 146,569,130 and 143,336,502 shares, respectively		(3,400)	(3,297)
Retained earnings		9,806	9,825
Accumulated other comprehensive income (loss)		(6,516)	(8,992)
Total equity attributable to Holdings		3,754	1,401
Noncontrolling interest		1,717	1,740
Total Equity		5,471	3,141
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 261,500	$ 252,702

[1]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.[2]Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.[3]See Note 15 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.(3) Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.[4]See Note 16 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Fixed maturities available-for-sale, amortized cost	$ 73,061,000,000	$ 72,991,000,000
Fixed maturities available-for-sale, allowance for credit losses	18,000,000	24,000,000
Mortgage loans on real estate, allowance for credit losses	139,000,000	129,000,000
Reinsurance recoverable, allowance for credit loss	$ 7,000,000	$ 10,000,000
Preferred stock par value (in dollars per share)	$ 1	$ 1
Preferred stock, liquidation preference	$ 25,000	$ 25,000
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	2,000,000,000	2,000,000,000
Common stock issued (in shares)	505,641,286	508,418,442
Common stock outstanding (in shares)	359,089,998	365,081,940
Treasury stock (in shares)	146,569,130	143,336,502

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUES
Policy charges and fee income	$ 588	$ 650
Premiums	276	247
Net derivative gains (losses)	(841)	159
Net investment income (loss)	990	804
Investment gains (losses), net:
Credit and intent to sell losses on available for sale debt securities and loans	(66)	10
Other investment gains (losses), net	(21)	(336)
Total investment gains (losses), net	(87)	(326)
Investment management and service fees	1,180	1,355
Other income	251	257
Total revenues	2,357	3,146
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	730	802
Remeasurement of liability for future policy benefits	4	22
Change in market risk benefits and purchased market risk benefits	20	(467)
Interest credited	463	313
Compensation and benefits	583	596
Commissions and distribution-related payments	380	422
Interest expense	61	47
Amortization of deferred policy acquisition costs	152	143
Other operating costs and expenses	423	534
Total benefits and other deductions	2,816	2,412
Income (loss) from continuing operations, before income taxes	(459)	734
Income tax (expense) benefit	725	(137)
Net income (loss)	266	597
Less: Net income (loss) attributable to the noncontrolling interest	89	67
Net income (loss) attributable to Holdings	177	530
Less: Preferred stock dividends	14	14
Net income (loss) available to Holdings’ common shareholders	163	516
Net income (loss) available to Holdings’ common shareholders	$ 163	$ 516
Net income (loss) applicable to Holdings’ common shareholders per common share:
Basic (in dollars per share)	$ 0.45	$ 1.33
Diluted (in dollars per share)	$ 0.45	$ 1.32
Weighted average common shares outstanding (in millions):
Basic (in shares)	361.9	388.6
Diluted (in shares)	364.1	391.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 266	$ 597
Other comprehensive income (loss) net of income taxes:
Change in unrealized gains (losses), net of reclassification adjustment	1,626	(4,677)
Changes in market risk benefits - instrument-specific credit risk	938	1,573
Changes in liability for future policy benefits - current discount rate	(112)	462
Changes in defined benefit plan related items not yet recognized in periodic benefit cost, net of reclassification adjustment	20	43
Foreign currency translation adjustment	6	(12)
Total other comprehensive income (loss), net of income taxes	2,478	(2,611)
Comprehensive income (loss)	2,744	(2,014)
Less: Comprehensive income (loss) attributable to the noncontrolling interest	91	63
Comprehensive income (loss) attributable to Holdings	$ 2,653	$ (2,077)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Total Holdings Equity	Preferred Stock and Additional Paid-In Capital	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interest
Beginning of year at Dec. 31, 2021	$ 11,927	$ 10,351	$ 1,562	$ 4	$ 1,919		$ 8,413	$ 1,303	$ 1,576
Treasury stock, common, beginning balance at Dec. 31, 2021						$ (2,850)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	69	50			19	31			19
Purchase of treasury stock	(278)	(278)		0	(5)	(273)
Reissuance of treasury stock	(31)	(31)					(31)
Retirement of common stock	0	0				22	(22)
Repurchase of AB Holding units	(14)								(14)
Dividends paid to noncontrolling interest	(139)								(139)
Dividends on common stock	(70)	(70)					(70)
Dividends on preferred stock	(14)	(14)					(14)
Issuance of preferred stock	0	0	0
Net income (loss)	623	530					530		93
Other comprehensive income (loss)	(2,611)	(2,607)						(2,607)	(4)
Other	(6)	(4)			0		(4)		(2)
Treasury stock, common, ending balance at Mar. 31, 2022						(3,070)
End of year at Mar. 31, 2022	9,456	7,927	1,562	4	1,933		8,802	(1,304)	1,529
Beginning of year at Dec. 31, 2022	3,141	1,401	1,562	4	2,299		9,825	(8,992)	1,740
Treasury stock, common, beginning balance at Dec. 31, 2022	3,297					(3,297)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation	42	35			11	24			7
Purchase of treasury stock	(214)	(214)			(3)	(211)
Reissuance of treasury stock	(25)	(25)					(25)
Retirement of common stock	0	0				84	(84)
Repurchase of AB Holding units	(18)								(18)
Dividends paid to noncontrolling interest	(89)								(89)
Dividends on common stock	(72)	(72)					(72)
Dividends on preferred stock	(14)	(14)					(14)
Net income (loss)	253	177					177		76
Other comprehensive income (loss)	2,478	2,476						2,476	2
Other	(11)	(10)			(9)		(1)		(1)
Treasury stock, common, ending balance at Mar. 31, 2023	3,400					$ (3,400)
End of year at Mar. 31, 2023	$ 5,471	$ 3,754	$ 1,562	$ 4	$ 2,298		$ 9,806	$ (6,516)	$ 1,717

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per common share (in dollars per share)	$ 0.20	$ 0.18

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Statement of Cash Flows [Abstract]
Net income (loss)		$ 266	$ 597
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances		463	313
Policy charges and fee income		(588)	(650)
Net derivative (gains) losses		841	(159)
Credit and intent to sell losses on available for sale debt securities and loans		66	(10)
Investment (gains) losses, net		21	336
(Gains) losses on businesses held-for-sale		3	0
Realized and unrealized (gains) losses on trading securities		(34)	92
Non-cash long-term incentive compensation expense		17	38
Amortization and depreciation		224	142
Remeasurement of liability for future policy benefits		4	22
Change in market risk benefits and purchased market risk benefits		20	(467)
Equity (income) loss from limited partnerships		(21)	(71)
Changes in:
Net broker-dealer and customer related receivables/payables		(641)	11
Reinsurance recoverable		(456)	(375)
Segregated cash and securities, net		468	(189)
Capitalization of deferred policy acquisition costs		(202)	(210)
Future policy benefits		(95)	43
Current and deferred income taxes	[1]	(738)	81
Other, net		(205)	(152)
Net cash provided by (used in) operating activities		(587)	(608)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale		1,481	8,651
Fixed maturities, at fair value using the fair value option		30	252
Mortgage loans on real estate		81	280
Trading account securities		162	45
Short term investments		589	6
Other		211	167
Payment for the purchase/origination of:
Fixed maturities, available-for-sale		(1,846)	(9,198)
Fixed maturities, at fair value using the fair value option		(41)	(254)
Mortgage loans on real estate		(580)	(688)
Trading account securities		(297)	(44)
Short term investments		(804)	(304)
Other			569
Other		(231)
Cash settlements related to derivative instruments, net		(197)	230
Investment in capitalized software, leasehold improvements and EDP equipment		(18)	1
Other, net		30	116
Net cash provided by (used in) investing activities		(1,430)	(171)
Cash flows from financing activities:
Deposits		4,375	3,228
Withdrawals		(2,655)	(2,257)
Transfers (to) from Separate Accounts		309	454
Payments of market risk benefits		(172)	(122)
Change in short-term financings		(8)	112
Change in collateralized pledged assets		(7)	(40)
Change in collateralized pledged liabilities		665	545
(Decrease) increase in overdrafts payable		0	(15)
Issuance of long-term debt		496	0
Proceeds from notes issued by consolidated VIEs		0	(11)
Dividends paid on common stock		(72)	(70)
Dividends paid on preferred stock		(14)	(14)
Purchases of AB Holding Units to fund long-term incentive compensation plan awards		(18)	(14)
Purchase of treasury shares		(214)	(279)
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds		150	(56)
Distribution to noncontrolling interest of consolidated subsidiaries		(89)	(139)
Other, net		3	(7)
Net cash provided by (used in) financing activities		2,749	1,315
Effect of exchange rate changes on cash and cash equivalents		10	(11)
Change in cash and cash equivalents		742	525
Cash and cash equivalents, beginning of the period		4,281	5,188
Change in cash of businesses held-for-sale		(5)	0
Cash and cash equivalents, end of the period		5,018	5,713
Non-cash transactions from investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations		$ 10	$ 29

[1]For the period ended March 31, 2023 includes a release of $614 million deferred tax valuation allowance. Refer to Note 12 of these Consolidated Financial Statements.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Valuation allowance	$ 614	$ 1,600

ORGANIZATION

ORGANIZATION	3 Months Ended
ORGANIZATION	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Equitable Holdings, Inc. is the holding company for a diversified financial services organization. The Company conducts operations in six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management and Legacy. The Company’s management evaluates the performance of each of these segments independently. See Note 17 to the consolidated financial statements for further information on the change to the reportable segments in the first quarter 2023, which was retrospectively applied. • The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high net worth individuals saving for retirement or seeking retirement income. • The Group Retirement segment offers tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities and not-for-profit entities, as well as small and medium-sized businesses. • The Investment Management and Research segment provides diversified investment management, research and related solutions globally to a broad range of clients through three main client channels - Institutional, Retail and Private Wealth - and distributes its institutional research products and solutions through Bernstein Research Services. The Investment Management and Research segment reflects the business of AB Holding and ABLP and their subsidiaries (collectively, AB). • The Protection Solutions segment includes the Company’s life insurance and group employee benefits businesses. The life insurance business offers a variety of VUL, IUL and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners, with their wealth protection, wealth transfer and corporate needs. Our group employee benefits business offers a suite of life, short- and long-term disability, dental and vision insurance products to small and medium-size businesses across the United States. • The Wealth Management segment is an emerging leader in the wealth management space with a differentiated advice value proposition that offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products. In 2023, we began reporting this business separately from our Individual Retirement, Group Retirement and Protection Solutions segments as well as Corporate and Other. • The Legacy segment consists of our capital intensive fixed-rate GMxB business written prior to 2011. In 2023, we began reporting this business separately from our Individual Retirement business. The Company reports certain activities and items that are not included in our segments in Corporate and Other. Corporate and Other includes certain of our financing and investment expenses. It also includes: closed block of life insurance (the “Closed Block”), run-off variable annuity reinsurance business, run-off group pension business, run-off health business, benefit plans for our employees, certain strategic investments and certain unallocated items, including capital and related investments, interest expense and corporate expense. AB’s results of operations are reflected in the Investment Management and Research segment. Accordingly, Corporate and Other does not include any items applicable to AB. As of March 31, 2023 and December 31, 2022, the Company’s economic interest in AB was approximately 61% and 61%, respectively. The General Partner of AB is a wholly-owned subsidiary of the Company. Because the General Partner has the authority to manage and control the business of AB, AB is consolidated in the Company’s financial statements for all periods presented. Global Atlantic Reinsurance Transaction On October 3, 2022, Equitable Financial completed the transactions (the “Global Atlantic Transaction”) contemplated by the previously announced Master Transaction Agreement, dated August 16, 2022, by and between Equitable Financial and First Allmerica Financial Life Insurance Company, a Massachusetts-domiciled insurance company (the “Reinsurer”), and a wholly owned subsidiary of Global Atlantic Financial Group. At the closing of the Global Atlantic Transaction, Equitable Financial and the Reinsurer entered into a Coinsurance and Modified Coinsurance Agreement (the “EQUI-VEST Reinsurance Agreement”), pursuant to which Equitable Financial ceded to the Reinsurer, on a combined coinsurance and modified coinsurance basis, a 50% quota share of approximately 360,000 legacy Group EQUI-VEST deferred variable annuity contracts issued by Equitable Financial between 1980 and 2008, which predominately include Equitable Financial’s highest guaranteed general account crediting rates of 3%, supported by general account assets of approximately $4 billion and $5 billion of Separate Account value (the “Reinsured Contracts”). The Reinsured Contracts predominately include certain of Equitable Financial’s contracts that offer the highest guaranteed general account crediting rates of 3%. At the closing of the Global Atlantic Transaction, the Reinsurer deposited assets supporting the General Account liabilities relating to the Reinsured Contracts into a trust account for the benefit of Equitable Financial, which assets will secure its obligations to Equitable Financial under the EQUI-VEST Reinsurance Agreement. Commonwealth Annuity and Life Insurance Company, an insurance company domiciled in the Commonwealth of Massachusetts and affiliate of the Reinsurer (“Commonwealth”), provided a guarantee of the Reinsurer’s payment obligation to Equitable Financial under the EQUI-VEST Reinsurance Agreement. The Company transferred assets of $2.8 billion, including primarily available-for-sale securities, cash and policy loans as the consideration for the reinsurance transaction. In addition, the Company recorded $4.1 billion of direct insurance liabilities ceded under the reinsurance contract included in amounts due from reinsurers and $1.2 billion of deferred gain on cost of reinsurance included within other liabilities. Additionally, $5.3 billion of Separate Account liabilities were ceded under a modified coinsurance portion of the agreement.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Certain prior period amounts were adjusted to reflect the adoption of ASU 2018-12: Financial Services - Insurance (Topic 944). The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “first quarter 2023” and “first quarter 2022” refer to the three months ended March 31, 2023 and 2022, respectively. The terms “first three months of 2023” and “first three months of 2022” refer to the three months ended March 31, 2023 and 2022, respectively. Certain prior year amounts have been reclassified to conform to the current year’s presentation. Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944) This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. The ASU also prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts. 2. Measurement of Market Risk Benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. On January 1, 2023, the Company adopted the new accounting standard ASU 2018-12 using the modified retrospective approach, except for MRBs which will use the full retrospective approach. Refer to “Transition impact of ASU 2018-12, Financial Services- Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts” section within this note for further details. Transition impact of ASU 2018-12, Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts The Company has not retrospectively adjusted its consolidated financial statements for the year ended December 31, 2020 to reflect the adoption of ASU 2018-12, consistent with the Division of Corporation Finance’s Financial Reporting Manual Section 11410.1. The Company adopted ASU 2018-12 for liability for future policy benefits (“LFPB”), additional insurance liabilities, DAC and balances amortized on a basis consistent with DAC on a modified retrospective basis. ASU 2018-12 was adopted for MRBs on a full retrospective basis. For the LFPB, the net transition adjustment has a favorable retained earnings impact due to the exclusion of DAC in loss recognition and Profits-followed-by-loss (“PFBL”) testing, resulting in a lower VISL PFBL liability. The unfavorable impact was offset by the removal of balances related to unrealized gains and losses on investments, any premium deficiency recorded in AOCI, formerly included in loss recognition testing as well as PFBL testing. For market risk benefits, the transition adjustment to AOCI related to the effect of the changes in the instrument-specific credit risk of market risk benefits between the contract issue and transition date. The remaining transition difference was related to recording market risk benefits at fair value. This change was recorded as an adjustment to retained earnings as of the transition date. For DAC, and balances amortized on a basis consistent with DAC including sales inducement assets and unearned revenue liabilities, there is no retained earnings impact due to application of the modified transition approach. There is a favorable AOCI impact due to the removal of DAC balances recorded in AOCI, offsetting the unfavorable AOCI impact resulting from LFPB. The following table presents the effect of transition adjustment to total equity resulting from the adoption of ASU 2018-12 as of January 1, 2021: Retained Earnings Accumulated Other Comprehensive Income Total (in millions) Liability for future policy benefits $ 30 $ (1,343) $ (1,313) Market risk benefits (3,398) (902) (4,300) DAC — 1,548 1,548 Unearned revenue liability and sales inducement assets (1) — (166) (166) Total transition adjustment before taxes (3,368) (863) (4,231) Income taxes 707 181 888 Total transition adjustment (net of taxes) $ (2,661) $ (682) $ (3,343) _______________ (1) Unearned revenue liability Included within liability for future policy benefits financial statement line item in the Consolidated Balance Sheet. Sales inducement assets are included in other assets in the consolidated balance sheets. The following table summarizes the balance of and changes in liability for future policy benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Protection Solutions Individual Corporate & Other Total Term Payout Group Health (in millions) Balance, December 31, 2020 $ 1,423 $ 3,047 $ 771 $ 2,100 $ 7,341 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — (171) (85) (100) (356) Effect of remeasurement of liability at current single A rate (1) 560 531 94 300 1,485 Balance, January 1, 2021 (1) 1,983 3,407 780 2,300 8,470 Less: Reinsurance Recoverable (59) — — (1,837) (1,896) Balance, January 1, 2021 (1), net of reinsurance $ 1,924 $ 3,407 $ 780 $ 463 $ 6,574 ________________ (1) LFPB transition table not inclusive of the following transition adjustments to AOCI including Protection Solutions PFBL of $550 million, PDR of $(230) million, Rider Reserves and Term Reinsurance of $(24) million and Corporate and Other of $(111) million. The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Individual Retirement Legacy Total GMxB Core GMxB Legacy Purchased MRB (in millions) Balance, December 31, 2020 $ 2,206 $ 19,891 $ (2,572) $ 19,525 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (4) (70) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date (1) 505 461 2 968 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (1) (563) 4,122 (194) 3,365 Balance, January 1, 2021 $ 2,144 $ 24,404 $ (2,764) $ 23,784 _____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including Individual Retirement EQUI-VEST of $43 million, SCS of $21 million, Protection Solutions of $(2) million and Group Retirement EQUI-VEST of $(20) million. The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Protection Solutions Legacy Individual Retirement Group Retirement Total Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 654 $ 1,635 $ 134 $ 95 $ 645 $ 553 $ 79 $ 4,198 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 177 714 162 13 11 20 (1) 210 81 22 1,409 Balance, January 1, 2021 (7) $ 403 $ 177 $ 714 $ 162 $ 667 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 5,607 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) "IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group (7) DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment. The following tables summarizes the balance of and changes in sales inducement assets and unearned revenue liability on January 1, 2021 resulting from the adoption of ASU 2018-12: Sales Inducement Assets Legacy Individual Retirement Total GMxB Legacy GMxB Core (in millions) Balance, December 31, 2020 $ 246 $ 158 $ 404 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — — — Balance, January 1, 2021 $ 246 $ 158 $ 404 Protection Solutions Total Unearned Revenue Liability UL VUL IUL Balance, December 31, 2020 $ 31 $ 438 $ 14 $ 483 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income 29 127 9 165 Balance, January 1, 2021 $ 60 $ 565 $ 23 $ 648 DAC Acquisition costs that vary with and are primarily related to the acquisition of new and renewal insurance business, reflecting incremental direct costs of contract acquisition with independent third parties or employees that are essential to the contract transaction, as well as the portion of employee compensation, including employee fringe benefits and other costs directly related to underwriting, policy issuance and processing, medical inspection, and contract selling for For some products, policyholders can elect to modify product benefits, features, rights or coverages that occur by the exchange of a contract for a new contract, or by amendment, endorsement, or rider to a contract, or by election or coverage within a contract. These transactions are known as internal replacements. If such modification substantially changes the contract, the associated DAC is written off immediately through income and any new acquisition costs associated with the replacement contract are deferred. Amount due to and from Reinsurers For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference, if any, between the amounts paid (received), and the liabilities ceded (assumed) related to the underlying contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. Subsequent amounts paid (received) on the reinsurance of in-force blocks, as well as amounts paid (received) related to new business, are recorded as premiums ceded (assumed); and amounts due from reinsurers (amounts due to reinsurers) are established. Assets and liabilities relating to reinsurance agreements with the same reinsurer may be recorded net on the balance sheet if a right of offset exists within the reinsurance agreement. In the event that reinsurers do not meet their obligations to the Company under the terms of the reinsurance agreements, reinsurance recoverable balances could become uncollectible. In such instances, reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance. Premiums, policy charges and fee income, and policyholders’ benefits include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Amounts received from reinsurers for policy administration are reported in other revenues. For reinsurance contracts, reinsurance recoverable balances are generally calculated using methodologies and assumptions that are consistent with those used to calculate the direct liabilities. Ceded reinsurance transactions are recognized and measured in a manner consistent with underlying reinsured contracts, including using consistent assumptions. Assumed and ceded reinsurance contract rights and obligations are accounted for on a basis consistent with our direct contract. The reinsurance cost or benefit for traditional life non-participating and limited-payment contracts is recognized in proportion to the gross premiums of the underlying direct cohorts. The locked-in single A discount rate used to calculate the reinsurance cost or benefit is established at inception of the reinsurance contract. Changes to the single A discount rate are reflected in comprehensive income at each reporting date. 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. Deposits received are included in other liabilities and deposits made are included within other assets. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other income or other operating costs and expenses, as appropriate. Sales Inducement Assets Sales inducement assets are offered on certain deferred annuity products in the form of either immediate bonus interest credited or enhanced interest crediting rates for a period of time. The interest crediting expense associated with these sales inducement assets is deferred and amortized over the lives of the underlying contracts in a manner consistent with the amortization of DAC. Unamortized balances are included in other assets in the consolidated balance sheets and amortization is included in interest credited to policyholders’ account balances in the consolidated statements of income (loss). Policyholders’ Account Balances Policyholders’ account balances relate to contracts or contract features where the Company has no significant insurance risk. This liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. Obligations arising from funding agreements are also reported in policyholders’ account balances in the consolidated balance sheets. As a member of the FHLB, the Company has access to collateralized borrowings. The Company may also issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require the Company to pledge qualified mortgage-backed assets and/or government securities as collateral. Future Policy Benefits and Other Policyholders’ Liabilities The liability for future policy benefits is estimated based upon the present value of future policy benefits and related claim expenses less the present value of estimated future net premiums where net premium equals gross premium under the contract multiplied by the net premium ratio. Related claim expenses include termination and settlement costs and exclude acquisition costs and non-claim related costs. The liability is estimated using current assumptions that include discount rate, mortality, lapses and expenses. Assumptions are based on judgments that consider the Company’s historical experience, industry data, and other factors. For participating traditional life insurance policies, future policy benefit liabilities are calculated using a net level premium method based on guaranteed mortality and dividend fund interest rates. The liability for annual dividends represents the accrual of annual dividends earned. Terminal dividends are accrued in proportion to face amount over the life of the contract. For non-participating traditional life insurance policies (Term) and limited pay contracts (Payout, Pension), contracts are grouped into cohorts by contract type and issue year. The Company quarterly updates its estimate of cash flows using actual experience and current future cash flow assumptions, which is reflected in an updated net premium ratio used to calculate the liability. The ratio of actual and future expected claims to actual and future expected premiums determines the net premium ratio. The policy administration expense assumption is not updated after policy issuance. If actual expenses differ from the original expense assumptions, the differences are recognized in the period identified. The revised net premium ratio is used to determine the updated liability for future policy benefits as of the beginning of the reporting period, discounted at the original contract issuance rate. Changes in the liability due to current discount rates differing from original rates are included in other comprehensive income within the consolidated statement of comprehensive income. For non-participating traditional life insurance policies and limited pay contracts, the discount rate assumption used is corporate A rated forward curve. We use a forward curve based upon a Bloomberg index. The liability is remeasured each quarter with the remeasurement change reported in other comprehensive income. The locked-in discount rate is generally based on expected investment returns at contract inception for contracts issued prior to January 1, 2021 and the upper medium grade fixed income corporate instrument yield (i.e., single A) at contract inception for contracts issued after January 1, 2021. The Company developed an LDTI discount rate methodology used to calculate the LFPB for its traditional insurance liabilities and constructed a discount rate curve that references upper-medium grade (low credit risk) fixed-income instrument yields (i.e. Single-A rated Corporate bond yields) which are meant to reflect the duration characteristics of the corresponding insurance liabilities. The methodology uses observable market data, where available, and uses various estimation techniques in line with fair value guidance (such as interpolation and extrapolation) where data is limited. Discount rates are updated quarterly. For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). DPL will be amortized in relation to the expected future benefit payments. As the calculation of the DPL is based on discounted cash flows, interest accrues on the unamortized DPL balance using the discount rate determined at contract issuance. The DPL is updated at the same time as the estimates for cash flows for the liability for future policy benefits. Any difference between the recalculated and beginning of period DPL is recognized in remeasurement gain or loss in the consolidated statements of income (loss), Remeasurement of Liability for Future Policy Benefits, part of total benefits and other deductions. On the consolidated balance sheets the DPL is recorded in the liability for future policy benefits. Additional liabilities for contract or contract feature that provide for additional benefits in addition to the account balance but are not market risk benefits or embedded derivatives (“additional insurance liabilities”) are established by estimating the expected value of death or other insurance benefits in excess of the projected contract accumulation value and recognizing the excess over the estimated life based on expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. These reserves are recorded within future policy benefits and other policyholders’ liabilities. The determination of this estimated future policy benefits liability is based on models that involve numerous assumptions and subjective judgments, including those regarding expected market rates of return and volatility, contract surrender and withdrawal rates, and mortality experience. There can be no assurance that actual experience will be consistent with management’s estimates. Assumptions are reviewed annually and updated with the remeasurement gain or loss reflected in total benefit expense. The Company recognizes an adjustment in other comprehensive income for the additional insurance liabilities for unrealized gains and losses not included when calculating the present value of expected assessments for the benefit ratios. The Company conducts annual premium deficiency testing except for liability for future policy benefits for non- participating traditional and limited payment contracts. The Company reviews assumptions and determines whether the sum of existing liabilities and the present value of future gross premiums is sufficient to cover the present value of future benefits to be paid and settlement costs. Anticipated investment income is considered when performing premium deficiency for long duration contracts. The anticipated investment income is projected based on current investment portfolio returns grading to long term reinvestment rates over the projection periods, based on anticipated gross reinvestment spreads, defaults and investment expenses. Premium deficiency reserves are recorded in certain instances where the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. This pattern of profits followed by losses is exhibited in our VISL business and is generated by the cost structure of the product or secondary guarantees in the contract. The secondary guarantee ensures that, subject to specified conditions, the policy will not terminate and will continue to provide a death benefit even if there is insufficient policy value to cover the monthly deductions and charges. We accrue for these PFBL using a dynamic approach that changes over time as the projection of future losses change. Market Risk Benefits Market risk benefits (“MRBs”) are contracts or contract features that provide protection to the contract holder from other than nominal capital market risk and expose the Company to other than nominal capital market risk. Market risk benefits include contract features that provide minimum guarantees to policyholders and include GMIB, GMDB, GMWB, GMAB, and ROP DB benefits. MRBs are measured at fair value on a seriatim basis using an ascribed fee approach based upon policyholder behavior projections and risk neutral economic scenarios adjusted based on the facts and circumstances of the Company’s product features. The MRB Asset and MRB Liability will be equal to the average present value of benefits and risk margins less the average present value of ascribed fees. Ascribed fees will consist of the fee needed, under a stochastically generated set of risk-neutral scenarios, so that the mean present value of claims, including any risk charge, is equal to the mean present value of the projected attributed fees which will be capped at average present value of total policyholder contractual fees. The attributed fee percentage is considered a fixed term of the MRB feature and is held static over the life of the contract. Changes in fair value are recognized as a remeasurement gain/loss in the Change in market risk benefits and purchased market risk benefits, part of total benefits and other deductions except for the portion of the change in the fair value due to change in the Company’s own credit risk, which is recognized in other than comprehensive income. Additionally, when an annuitization occurs (for annuitization benefits) or upon extinguishment of the account balance (for withdrawal benefits) the balance related to the MRB will be derecognized and the amount deducted (after derecognition of any related amount included in accumulated other comprehensive income) shall be used in the calculation of the liability for future policy benefits for the payout annuity. Upon derecognition, any related balance will be removed from AOCI. The Company has issued and continues to offer certain variable annuity products with GMDB and/or contain a GMLB (collectively, the “GMxB features”) which, if elected by the policyholder after a stipulated waiting period from contract issuance, guarantees a minimum lifetime annuity based on predetermined annuity purchase rates that may be Troubled Debt Restructuring The Company invests in commercial and agricultural mortgage loans included in the balance sheet as mortgage loans on real estate. Under certain circumstances, modifications are granted to these contracts. Each modification is evaluated as to whether a TDR has occurred. A modification is a TDR when the borrower is in financial difficulty. The types of modifications made may include reducing the face amount or maturity amount of the debt as originally stated, reducing the contractual interest rate, extending the maturity date at an interest rate lower than current market interest rates and/or reducing accrued interest. The credit allowance is an estimate of lifetime expected losses reflecting historical loss information which included losses from modification to a borrower experiencing financial difficulty. As the effect of the modification made to a borrower experiencing financial difficulty is already included in the credit allowance, the carrying value (net of the allowance) before and after modification through a TDR may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. For information pertaining to our TDRs see Note 3 of the Notes to these Consolidated Financial Statements. Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs Consolidated CLOs The Company is the investment manager of certain asset-backed investment vehicles, commonly referred to as CLOs, and certain other vehicles for which the Company earns fee income for investment management services. The Company may sell or syndicate investments through these vehicles, principally as part of the strategic investing activity as part of its investment management businesses. Additionally, the Company may invest in securities issued by these vehicles which are eliminated in consolidation of the CLOs. As of March 31, 2023 and December 31, 2022, respectively, Equitable Financial holds $89 million and $85 million of equity interests in the CLOs. The Company consolidated the CLOs as of March 31, 2023 and December 31, 2022 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the CLOs loan manager. The assets of the CLOs are legally isolated from the Company’s creditors and can only be used to settle obligations of the CLOs. The liabilities of the CLOs are non-recourse to the Company and the Company has no obligation to satisfy the liabilities of the CLOs. As of March 31, 2023, Equitable Financial holds $88 million of equity interests in a SPE established to purchase loans from the market in anticipation of a new CLO transaction. The Company consolidated the SPE as of March 31, 2023 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the SPE loan manager. Resulting from this consolidation in the Company’s consolidated balance sheets are fixed maturities, at fair value using the fair value option with total assets of $1.5 billion and $1.5 billion notes issued by consolidated variable interest entities, at fair value using the fair value option with total liabilities of $1.2 billion and $1.2 billion at March 31, 2023 and December 31, 2022, respectively . The unpaid outstanding principal balance of the notes and short-term borrowing is $1.4 billion and $1.4 billion at March 31, 2023 and December 31, 2022. Consolidated Limited Partnerships and LLCs As of March 31, 2023 and December 31, 2022 the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIE model. Included in Other invested assets, Mortgage loans on real estate, Other equity investments, Trading securities, cash and other liabilities in the Company’s consolidated balance sheets at March 31, 2023 and December 31, 2022 are total net assets of $925 million and $644 million, respectively related to these VIEs. Consolidated AB-Sponsored Investment Funds Included in the Company’s consolidated balance sheet as of March 31, 2023 and December 31, 2022 are assets of $578 million and $581 million, liabilities of $44 million and $56 million, and redeemable noncontrolling interests of $375 million and $369 million , respectively, associated with the consolidation of AB-sponsored investment funds . Also included in the Company’s consolidated balance sheets as of March 31, 2023 and December 31, 2022 are assets of $17 million and $0 million, liabilities of $0 million and $0 million, and redeemable noncontrolling interests of $2 million and $0 million, respectively, from consolidation of AB-sponsored investment funds under the VOE model. Non-Consolidated VIEs As of March 31, 2023 and December 31, 2022 respectively, the Company held approximately $2.4 billion and $2.4 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under

INVESTMENTS

INVESTMENTS	3 Months Ended
INVESTMENTS	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Fixed Maturities AFS The components of fair value and amortized cost for fixed maturities classified as AFS on the consolidated balance sheets excludes accrued interest receivable because the Company elected to present accrued interest receivable within other assets. Accrued interest receivable on AFS fixed maturities as of March 31, 2023 and December 31, 2022 was $616 million and $591 million, respectively. There was no accrued interest written off for AFS fixed maturities for the three months ended March 31, 2023 and 2022. The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value (in millions) March 31, 2023 Fixed Maturities: Corporate (1) $ 51,030 $ 18 $ 167 $ 6,086 $ 45,093 U.S. Treasury, government and agency 6,991 — 3 925 6,069 States and political subdivisions 638 — 12 75 575 Foreign governments 1,028 — 3 133 898 Residential mortgage-backed (2) 930 — 1 84 847 Asset-backed (3) 8,548 — 9 315 8,242 Commercial mortgage-backed 3,856 — — 558 3,298 Redeemable preferred stock 40 — 3 — 43 Total at March 31, 2023 $ 73,061 $ 18 $ 198 $ 8,176 $ 65,065 December 31, 2022: Fixed Maturities: Corporate (1) $ 50,712 $ 24 $ 89 $ 7,206 $ 43,571 U.S. Treasury, government and agency 7,054 — 1 1,218 5,837 States and political subdivisions 609 — 7 89 527 Foreign governments 985 — 2 151 836 Residential mortgage-backed (2) 908 — 1 87 822 Asset-backed (3) 8,859 — 4 373 8,490 Commercial mortgage-backed 3,823 — — 588 3,235 Redeemable preferred stock 41 — 2 — 43 Total at December 31, 2022 $ 72,991 $ 24 $ 106 $ 9,712 $ 63,361 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. The contractual maturities of AFS fixed maturities as of March 31, 2023 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) March 31, 2023 Contractual maturities: Due in one year or less $ 1,551 $ 1,533 Due in years two through five 15,798 15,107 Due in years six through ten 16,462 15,023 Due after ten years 25,858 20,972 Subtotal 59,669 52,635 Residential mortgage-backed 930 847 Asset-backed 8,548 8,242 Commercial mortgage-backed 3,856 3,298 Redeemable preferred stock 40 43 Total at March 31, 2023 $ 73,043 $ 65,065 The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities. Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Three Months Ended March 31, 2023 2022 (in millions) Proceeds from sales $ 825 $ 7,391 Gross gains on sales $ 2 $ 29 Gross losses on sales $ (26) $ (364) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (56) $ 1 The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of period $ 36 $ 44 Previously recognized impairments on securities that matured, paid, prepaid or sold (3) (2) Recognized impairments on securities impaired to fair value this period (1) (2) 52 — Credit losses recognized this period on securities for which credit losses were not previously recognized 3 — Additional credit losses this period on securities previously impaired 1 1 Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — Balance at March 31, $ 89 $ 43 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. (2) Amounts reflected for the three months ended March 31, 2023 represent AFS fixed maturities in an unrealized loss position, which the Company intends to sell in anticipation of Equitable Financial’s ordinary dividend to Holdings. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2023 $ (9,606) $ 41 $ 440 $ (9,125) Net investment gains (losses) arising during the period 1,555 — — 1,555 Reclassification adjustment: Included in net income (loss) 80 — — 80 Other — — — — Impact of net unrealized investment gains (losses) — (8) (342) (350) Net unrealized investment gains (losses) excluding credit losses (7,971) 33 98 (7,840) Net unrealized investment gains (losses) with credit losses (7) — 1 (6) Balance, March 31, 2023 $ (7,978) $ 33 $ 99 $ (7,846) Balance, January 1, 2022 $ 4,809 $ (169) $ (974) $ 3,666 Net investment gains (losses) arising during the period (6,425) — — (6,425) Reclassification adjustment: Included in net income (loss) 334 — — 334 Other — — — — Impact of net unrealized investment gains (losses) — 173 1,242 1,415 Net unrealized investment gains (losses) excluding credit losses (1,282) 4 268 (1,010) Net unrealized investment gains (losses) with credit losses (5) — 1 (4) Balance, March 31, 2022 $ (1,287) $ 4 $ 269 $ (1,014) The following tables disclose the fair values and gross unrealized losses of the 4,949 issues as of March 31, 2023 and the 5,209 issues as of December 31, 2022 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated. AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) March 31, 2023 Fixed Maturities: Corporate $ 8,624 $ 401 $ 30,610 $ 5,683 $ 39,234 $ 6,084 U.S. Treasury, government and agency 3,271 277 2,584 648 5,855 925 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) States and political subdivisions 36 2 269 73 305 75 Foreign governments 106 6 645 127 751 133 Residential mortgage-backed 295 11 517 73 812 84 Asset-backed 1,458 36 5,933 279 7,391 315 Commercial mortgage-backed 425 30 2,805 528 3,230 558 Total at March 31, 2023 $ 14,215 $ 763 $ 43,363 $ 7,411 $ 57,578 $ 8,174 December 31, 2022: Fixed Maturities: Corporate $ 24,580 $ 2,668 $ 16,534 $ 4,536 $ 41,114 $ 7,204 U.S. Treasury, government and agency 5,564 1,200 204 18 5,768 1,218 States and political subdivisions 130 25 173 64 303 89 Foreign governments 349 42 417 109 766 151 Residential mortgage-backed 671 49 83 38 754 87 Asset-backed 6,298 230 1,765 143 8,063 373 Commercial mortgage-backed 1,577 201 1,640 387 3,217 588 Total at December 31, 2022 $ 39,169 $ 4,415 $ 20,816 $ 5,295 $ 59,985 $ 9,710 The Company’s investments in fixed maturities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of the Company, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.9% of total corporate securities. The largest exposures to a single issuer of corporate securities held as of March 31, 2023 and December 31, 2022 were $387 million and $327 million, respectively, representing 7.1% and 10.4% of the consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the NAIC designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). As of March 31, 2023 and December 31, 2022, respectively, approximately $2.8 billion and $2.9 billion, or 3.8% and 4.0%, of the $73.1 billion and $73.0 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $166 million and $208 million as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023 and December 31, 2022, respectively, the $7.4 billion and $5.3 billion of gross unrealized losses of twelve months or more were primarily concentrated in corporate securities. In accordance with the policy described in Note 2 of the Notes to these Consolidated Financial Statements, the Company concluded that an adjustment to the allowance for credit losses for these securities was not warranted at either March 31, 2023 or December 31, 2022. As of March 31, 2023 and December 31, 2022, the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. Based on the Company’s evaluation both qualitatively and quantitatively of the drivers of the decline in fair value of fixed maturity securities as of March 31, 2023, the Company determined that the unrealized loss was primarily due to increases in interest rates and credit spreads. Mortgage Loans on Real Estate Accrued interest receivable on commercial and agricultural mortgage loans as of March 31, 2023 and December 31, 2022 was $72 million and $71 million, respectively. There was no accrued interest written off for commercial and agricultural mortgage loans for the three months ended March 31, 2023 and 2022. As of March 31, 2023, the Company had no loans for which foreclosure was probable included within the individually assessed mortgage loans, and accordingly had no associated allowance for credit losses. Allowance for Credit Losses on Mortgage Loans The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 123 $ 57 Current-period provision for expected credit losses 10 (10) Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance 10 (10) Balance, end of period $ 133 $ 47 Agricultural mortgages: Balance, beginning of period $ 6 $ 5 Current-period provision for expected credit losses — 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance — 1 Balance, end of period $ 6 $ 6 Total allowance for credit losses $ 139 $ 53 The change in the allowance for credit losses is attributable to: • increases/decreases in the loan balance due to new originations, maturing mortgages, and loan amortization; and • changes in credit quality and economic assumptions. Credit Quality Information The following tables summarize the Company’s mortgage loans segregated by risk rating exposure as of March 31, 2023 and December 31, 2022. Loan to Value (“LTV”) Ratios (1) March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ 679 $ 130 $ — $ — $ 1,466 $ — $ — $ 2,275 March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 50% - 70% 237 2,230 1,568 906 312 2,911 268 94 8,526 70% - 90% 243 364 382 463 328 1,635 28 34 3,477 90% plus — — 33 — — 225 — — 258 Total commercial $ 480 $ 3,273 $ 2,113 $ 1,369 $ 640 $ 6,237 $ 296 $ 128 $ 14,536 Agricultural: 0% - 50% $ 10 $ 164 $ 182 $ 237 $ 128 $ 847 $ — $ — $ 1,568 50% - 70% 11 188 182 208 67 332 — — 988 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 21 $ 352 $ 364 $ 445 $ 195 $ 1,195 $ — $ — $ 2,572 Total mortgage loans: 0% - 50% $ 10 $ 843 $ 312 $ 237 $ 128 $ 2,313 $ — $ — $ 3,843 50% - 70% 248 2,418 1,750 1,114 379 3,243 268 94 9,514 70% - 90% 243 364 382 463 328 1,651 28 34 3,493 90% plus — — 33 — — 225 — — 258 Total mortgage loans $ 501 $ 3,625 $ 2,477 $ 1,814 $ 835 $ 7,432 $ 296 $ 128 $ 17,108 Debt Service Coverage (“DSC”) Ratios (2 ) March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ — $ 783 $ 1,160 $ 1,113 $ 102 $ 2,634 $ — $ — $ 5,792 1.8x to 2.0x — 94 180 164 288 605 242 94 1,667 1.5x to 1.8x — 400 490 32 195 1,234 — — 2,351 1.2x to 1.5x 307 1,041 194 — — 854 — — 2,396 1.0x to 1.2x 166 496 41 60 55 840 54 34 1,746 Less than 1.0x 7 459 48 — — 70 — — 584 Total commercial $ 480 $ 3,273 $ 2,113 $ 1,369 $ 640 $ 6,237 $ 296 $ 128 $ 14,536 Agricultural: Greater than 2.0x $ 2 $ 51 $ 40 $ 61 $ 21 $ 189 $ — $ — $ 364 March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.8x to 2.0x — 16 57 33 24 67 — — 197 1.5x to 1.8x 6 69 31 110 18 213 — — 447 1.2x to 1.5x 4 107 156 177 97 391 — — 932 1.0x to 1.2x 5 90 80 60 29 310 — — 574 Less than 1.0x 4 19 — 4 6 25 — — 58 Total agricultural $ 21 $ 352 $ 364 $ 445 $ 195 $ 1,195 $ — $ — $ 2,572 Total mortgage loans: Greater than 2.0x $ 2 $ 834 $ 1,200 $ 1,174 $ 123 $ 2,823 $ — $ — $ 6,156 1.8x to 2.0x — 110 237 197 312 672 242 94 1,864 1.5x to 1.8x 6 469 521 142 213 1,447 — — 2,798 1.2x to 1.5x 311 1,148 350 177 97 1,245 — — 3,328 1.0x to 1.2x 171 586 121 120 84 1,150 54 34 2,320 Less than 1.0x 11 478 48 4 6 95 — — 642 Total mortgage loans $ 501 $ 3,625 $ 2,477 $ 1,814 $ 835 $ 7,432 $ 296 $ 128 $ 17,108 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. LTV Ratios (1) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: 0% - 50% $ 624 $ 130 $ — $ — $ 119 $ 1,259 $ — $ — $ 2,132 50% - 70% 2,285 1,569 906 313 623 2,254 328 — 8,278 70% - 90% 363 415 463 329 424 1,314 — 34 3,342 90% plus — — — — 35 233 — — 268 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,060 $ 328 $ 34 $ 14,020 Agricultural: 0% - 50% $ 163 $ 182 $ 228 $ 129 $ 132 $ 725 $ — $ — $ 1,559 50% - 70% 190 185 222 68 83 267 — — 1,015 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total mortgage loans: 0% - 50% $ 787 $ 312 $ 228 $ 129 $ 251 $ 1,984 $ — $ — $ 3,691 50% - 70% 2,475 1,754 1,128 381 706 2,521 328 — 9,293 70% - 90% 363 415 463 329 424 1,330 — 34 3,358 90% plus — — — — 35 233 — — 268 Total mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,068 $ 328 $ 34 $ 16,610 DSC Ratios (2) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 771 $ 1,159 $ 1,113 $ 102 $ 571 $ 1,923 $ — $ — $ 5,639 1.8x to 2.0x 158 215 164 197 186 482 279 — 1,681 1.5x to 1.8x 337 390 32 153 176 1,175 4 — 2,267 1.2x to 1.5x 1,041 259 — 92 73 917 — — 2,382 1.0x to 1.2x 507 43 60 98 160 492 45 34 1,439 Less than 1.0x 458 48 — — 35 71 — — 612 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,060 $ 328 $ 34 $ 14,020 December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Agricultural: Greater than 2.0x $ 51 $ 40 $ 62 $ 21 $ 12 $ 193 $ — $ — $ 379 1.8x to 2.0x 16 58 35 24 14 51 — — 198 1.5x to 1.8x 69 42 111 18 19 196 — — 455 1.2x to 1.5x 107 147 177 98 99 298 — — 926 1.0x to 1.2x 91 80 61 30 60 257 — — 579 Less than 1.0x 19 — 4 6 11 13 — — 53 Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total mortgage loans: Greater than 2.0x $ 822 $ 1,199 $ 1,175 $ 123 $ 583 $ 2,116 $ — $ — $ 6,018 1.8x to 2.0x 174 273 199 221 200 533 279 — 1,879 1.5x to 1.8x 406 432 143 171 195 1,371 4 — 2,722 1.2x to 1.5x 1,148 406 177 190 172 1,215 — — 3,308 1.0x to 1.2x 598 123 121 128 220 749 45 34 2,018 Less than 1.0x 477 48 4 6 46 84 — — 665 Total mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,068 $ 328 $ 34 $ 16,610 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. Past-Due and Nonaccrual Mortgage Loan Status The following table provides information relating to the aging analysis of past-due mortgage loans as of March 31, 2023 and December 31, 2022, respectively. Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) March 31, 2023: Mortgage loans: Commercial $ 62 $ — $ — $ 62 $ 14,383 $ 14,445 $ 91 $ 14,536 $ — $ 1 Agricultural 17 11 15 43 2,510 2,553 19 2,572 3 — Total $ 79 $ 11 $ 15 $ 105 $ 16,893 $ 16,998 $ 110 $ 17,108 $ 3 $ 1 Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) December 31, 2022: Mortgage loans: Commercial $ 56 $ — $ — $ 56 $ 13,964 $ 14,020 $ — $ 14,020 $ — $ — Agricultural 3 5 13 21 2,553 2,574 16 2,590 — — Total $ 59 $ 5 $ 13 $ 77 $ 16,517 $ 16,594 $ 16 $ 16,610 $ — $ — _______________ (1) Amounts presented at amortized cost basis. As of March 31, 2023 and December 31, 2022, the carrying values of problem mortgage loans that had been classified as non-accrual loans were $17 million and $14 million, respectively. The carrying values of those mortgage loans are presented net of an allowance of $2 million and $2 million, respectively, as of March 31, 2023 and December 31, 2022. Troubled Debt Restructuring During the three months ended March 31, 2023, we granted a modification to a $56 million commercial real estate loan, which is 0.3% of the mortgage loans on real estate. The modification reflects a pay and accrue structure where the loan was converted to interest only, and the pay rate is lower than the current rate beginning in 2023; 0.35% in 2023 and stepping up annually until it reaches the existing coupon of 5.0% in 2027. Interest between the pay rate and the coupon rate will be accrued and added to the loan monthly. Additionally, any excess cash flow above the pay rate will be applied to the loan. For the accounting policy pertaining to our TDRs see Note 2 of the Notes to these Consolidated Financial Statements. During the three months ended March 31, 2022, the Company identified an immaterial amount of TDRs. Equity Securities The table below presents a breakdown of unrealized and realized gains and (losses) on equity securities during the three months ended March 31, 2023 and 2022. Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (3) $ (40) Net investment gains (losses) recognized on securities sold during the period — (13) Unrealized and realized gains (losses) on equity securities $ (3) $ (53) Trading Securities As of March 31, 2023 and December 31, 2022, respectively, the fair value of the Company’s trading securities was $828 million and $677 million. As of March 31, 2023 and December 31, 2022, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $46 million and $39 million. The table below shows a breakdown of net investment income (loss) from trading securities during the three months ended March 31, 2023 and 2022. Net Investment Income (Loss) from Trading Securities Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 35 $ (94) Net investment gains (losses) recognized on securities sold during the period (1) 2 Unrealized and realized gains (losses) on trading securities 34 (92) Interest and dividend income from trading securities 5 16 Net investment income (loss) from trading securities $ 39 $ (76) Fixed maturities, at fair value using the fair value option The table below shows a breakdown of net investment income (loss) from fixed maturities, at fair value using the fair value option during the three months ended March 31, 2023 and 2022. Net Investment Income (Loss) from Fixed Maturities, at Fair Value using the Fair Value Option Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 4 $ (5) Net investment gains (losses) recognized on securities sold during the period (2) 6 Unrealized and realized gains (losses) from fixed maturities 2 1 Interest and dividend income from fixed maturities 7 16 Net investment income (loss) from fixed maturities $ 9 $ 17

DERIVATIVES

DERIVATIVES	3 Months Ended
DERIVATIVES	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. Derivatives are generally not accounted for using hedge accounting, with the exception of TIPS and cash flow hedges, which are discussed further below. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, bond and bond-index total return swaps, swaptions, variance swaps and equity options, credit and foreign exchange derivatives, as well as bond and repo transactions to support the hedging. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. In addition, as part of its hedging strategy, the Company targets an asset level for all variable annuity products at or above a CTE98 level under most economic scenarios (CTE is a statistical measure of tail risk which quantifies the total asset requirement to sustain a loss if an event outside a given probability level has occurred. CTE98 denotes the financial resources a company would need to cover the average of the worst 2% of scenarios.) Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features which are accounted for as market risk benefits. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB feature and are accounted for as market risk benefits is that under-performance of the financial markets could result in the GMxB features benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual experience versus expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The reinsurance of the GMIB features is accounted for as purchased market risk benefits. In addition, on June 1, 2021, we ceded legacy variable annuity policies sold by Equitable Financial between 2006-2008 (the “Block”), comprised of non-New York “Accumulator” policies containing fixed rate GMIB and/or GMDB guarantees to CS Life. As this contract provides full risk transfer and thus has the same risk attributes as the underlying direct contracts, the benefits of this treaty are accounted for in the same manner as the underlying gross reserves and therefore the Amounts Due from Reinsurers related to the GMIB with NLG are accounted for as purchased market risk benefits. The Company has in place an economic hedge program using U.S. Treasury futures to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the SCS variable annuity, SIO in the EQUI-VEST variable annuity series, MSO in the variable life insurance products and IUL insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. Derivatives Used to Hedge Equity Market Risks Associated with the General Account’s Seed Money Investments in Retail Mutual Funds The Company’s General Account seed money investments in retail mutual funds expose us to market risk, including equity market risk which is partially hedged through equity-index futures contracts to minimize such risk. Derivatives Used for General Account Investment Portfolio The Company maintains a strategy in its General Account investment portfolio to replicate the credit exposure of fixed maturity securities otherwise permissible for investment under its investment guidelines through the sale of CDS. Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s bonds of similar maturity. These credit derivatives generally have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in net derivative gains (losses). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in a manner consistent with its selection of fixed maturities. In addition, the Company generally transacts the sale of CDS in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the reference entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at its option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the reference entity for recovery by sale at the contract settlement auction. The Company purchased CDS to mitigate its exposure to a reference entity through cash positions. These positions do not replicate credit spreads. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under the CDS that it sold. The maximum potential amount of future payments the Company could be required to make under the credit derivatives sold is limited to the par value of the referenced securities which is the dollar or euro-equivalent of the derivative’s notional amount. The Standard North American CDS Contract or Standard European Corporate Contract under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative. The Company purchased 30-year TIPS and other sovereign bonds, both inflation linked and non-inflation linked, as General Account investments and enters into asset or cross-currency basis swaps, to result in payment of the given bond’s coupons and principal at maturity in the bond’s specified currency to the swap counterparty in return for fixed dollar amounts. These swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. Derivatives Utilized to Hedge Exposure to Foreign Currency Denominated Cash Flows The Company purchases private placement debt securities and issues funding agreements in the FABN program in currencies other than its functional U.S. dollar currency. The Company enters into cross currency swaps with external counterparties to hedge the exposure of the foreign currency denominated cash flows of these instruments. The foreign currency received from or paid to the cross currency swap counterparty is exchanged for fixed U.S. dollar amounts with improved net investment yields or net product costs over equivalent U.S. dollar denominated instruments issued at that time. The transactions are accounted for as cash flow hedges when they are designated in hedging relationships and qualify for hedge accounting. These cross currency swaps are for the period the foreign currency denominated private placement debt securities and funding agreement are outstanding, with the longest cross currency swap expiring in 2033. Since these cross currency swaps are designated and qualify as cash flow hedges, the corresponding interest accruals are recognized in Net investment income and in Interest credited to policyholders’ account balances. The tables below present quantitative disclosures about the Company’s derivative instruments designated in hedging relationships and derivative instruments which have not been designated in hedging relationships, including those embedded in other contracts required to be accounted for as derivative instruments. The following table presents the gross notional amount and estimated fair value of the Company’s derivatives: Derivative Instruments by Category March 31, 2023 December 31, 2022 Fair Value Fair Value Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 1,580 $ 98 $ 87 $ 1,431 $ 99 $ 85 Interest swaps 955 — 335 955 — 294 Total: designated for hedge accounting 2,535 98 422 2,386 99 379 Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 5,515 — 5 5,151 2 — Swaps 12,281 58 9 11,188 39 9 Options 51,196 8,814 2,955 40,122 7,583 3,412 Interest rate contracts: Futures 12,191 — — 12,693 — — Swaps 1,980 17 92 1,515 — 166 Credit contracts: Credit default swaps 321 12 7 327 18 9 Currency contracts: Currency swaps 548 4 10 397 4 13 Currency forwards 37 14 15 62 31 32 Other freestanding contracts: Margin — 242 — — 226 — Collateral — 149 5,233 — 142 4,472 Total: not designated for hedge accounting 84,069 9,310 8,326 71,455 8,045 8,113 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — 6,063 — — 4,164 Total embedded derivatives — — 6,063 — — 4,164 Total derivative instruments $ 86,604 $ 9,408 $ 14,811 $ 73,841 $ 8,144 $ 12,656 ___________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Net Derivatives Gain (Losses) (1) Net Investment Income Interest Credited To Policyholders Account Balances AOCI Net Derivatives Gain (Losses) (1) Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ 7 $ 3 $ (34) $ 25 $ (4) $ — $ (18) $ 13 Interest swaps (4) — — (28) (14) — — (20) Total: designated for hedge accounting 3 3 (34) (3) (18) — (18) (7) Derivatives: not Designated for hedge accounting Equity contracts: Futures (143) — — — 58 — — — Swaps (605) — — — 734 — — — Options 1,501 — — — (284) — — — Interest rate contracts: Futures (22) — — — (512) — — — Swaps 48 — — — (149) — — — Credit contracts: Credit default swaps (2) — — — 2 — — — Currency contracts: Currency swaps (10) — — — 5 — — — Currency forwards — — — — 1 — — — Other freestanding contracts: Margin — — — — — — — — Collateral — — — — — — — — Total: not designated for hedge accounting 767 — — — (145) — — — Embedded derivatives: SCS, SIO,MSO and IUL indexed features (1,611) — — — 322 — — — Total embedded derivatives (1,611) — — — 322 — — — Total derivative instruments $ (841) $ 3 $ (34) $ (3) $ 159 $ — $ (18) $ (7) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). . The following table presents a roll-forward of cash flow hedges recognized in AOCI. Roll-forward of Cash flow hedges in AOCI Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of period $ 22 $ (208) Amount recorded in AOCI Currency swaps (7) (3) Interest swaps (37) (39) Total amount recorded in AOCI (44) (42) Amount reclassified from AOCI to income Currency swaps (1) 32 16 Interest swaps (1) 9 19 Total amount reclassified from AOCI to income 41 35 Balance, end of period (2) $ 19 $ (215) _______________ (1) Currency swaps reclassified from AOCI to income are reported in net investment income in the consolidated statements of income (loss). Interest swaps reclassified from AOCI to income are reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) The Company does not estimate the amount of the deferred losses in AOCI at three months ended March 31, 2023 and 2022 which will be released and reclassified into Net income (loss) over the next 12 months as the amounts cannot be reasonably estimated. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based and treasury futures contracts as of March 31, 2023 and December 31, 2022 are exchange-traded and net settled daily in cash. As of March 31, 2023 and December 31, 2022, respectively, the Company had open exchange-traded futures positions on: (i) the S&P 500, Nasdaq, Russell 2000 and Emerging Market indices, having initial margin requirements of $258 million and $247 million, (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $74 million and $113 million, and (iii) the Euro Stoxx, FTSE 100, Topix, ASX 200 and EAFE indices as well as corresponding currency futures on the Euro/U.S. dollar, Pound/U.S. dollar, Australian dollar/U.S. dollar, and Yen/U.S. dollar, having initial margin requirements of $16 million and $16 million. Collateral Arrangements The Company generally has executed a CSA under the ISDA Master Agreement it maintains with each of its OTC derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. As of March 31, 2023 and December 31, 2022, respectively, the Company held $5.2 billion and $4.5 billion in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in other invested assets. The Company posted collateral of $149 million and $142 million as of March 31, 2023 and December 31, 2022, respectively, in the normal operation of its collateral arrangements. The Company is exposed to losses in the event of non-performance by counterparties to financial derivative transactions with a positive fair value. The Company manages credit risk by: (i) entering into derivative transactions with highly rated major international financial institutions and other creditworthy counterparties governed by master netting agreements, as applicable; (ii) trading through central clearing and OTC parties; (iii) obtaining collateral, such as cash and securities, when appropriate; and (iv) setting limits on single party credit exposures which are subject to periodic management review. Substantially all of the Company’s derivative agreements have zero thresholds which require daily full collateralization by the party in a liability position. In addition, certain of the Company’s derivative agreements contain credit-risk related contingent features; if the credit rating of one of the parties to the derivative agreement is to fall below a certain level, the party with positive fair value could request termination at the then fair value or demand immediate full collateralization from the party whose credit rating fell and is in a net liability position. As of March 31, 2023 and December 31, 2022, there were no net liability derivative positions with counterparties with credit risk-related contingent features whose credit rating has fallen. All derivatives have been appropriately collateralized by the Company or the counterparty in accordance with the terms of the derivative agreements. The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments as of March 31, 2023 and December 31, 2022: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of March 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 9,408 $ 7,783 $ 1,625 $ (945) $ 680 Other financial assets 2,986 — 2,986 — 2,986 Other invested assets $ 12,394 $ 7,783 $ 4,611 $ (945) $ 3,666 Liabilities: Derivative liabilities (2) $ 7,802 $ 7,783 $ 19 $ — $ 19 Other financial liabilities 6,277 — 6,277 — 6,277 Other liabilities $ 14,079 $ 7,783 $ 6,296 $ — $ 6,296 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments/Collateral sent (held). As of December 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 8,143 $ 7,047 $ 1,096 $ (848) $ 248 Other financial assets 2,789 — 2,789 — 2,789 Other invested assets $ 10,932 $ 7,047 $ 3,885 $ (848) $ 3,037 Liabilities: Derivative liabilities (2) $ 7,645 $ 7,047 $ 598 $ — $ 598 Other financial liabilities 6,510 — 6,510 — 6,510 Other liabilities $ 14,155 $ 7,047 $ 7,108 $ — $ 7,108 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held).

CLOSED BLOCK

CLOSED BLOCK	3 Months Ended
CLOSED BLOCK	Mar. 31, 2023
Closed Block Disclosure [Abstract]
CLOSED BLOCK	CLOSED BLOCK Summarized financial information for the Company’s Closed Block is as follows: March 31, 2023 December 31, 2022 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,626 $ 5,692 Policyholder dividend obligation — — Other liabilities 102 68 Total Closed Block liabilities 5,728 5,760 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $3,117 and $3,171) (allowance for credit losses of $0 and $0) 2,945 2,948 Mortgage loans on real estate (net of allowance for credit losses of $5 and $4) 1,647 1,645 Policy loans 561 569 Cash and other invested assets 2 — Other assets 201 187 Total assets designated to the Closed Block 5,356 5,349 Excess of Closed Block liabilities over assets designated to the Closed Block 372 411 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $47 (136) (177) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 236 $ 234 The Company’s Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2023 2022 (in millions) Revenues: Premiums and other income $ 30 $ 33 Net investment income (loss) 51 58 Investment gains (losses), net — 1 Total revenues 81 92 Benefits and Other Deductions: Policyholders’ benefits and dividends 83 76 Other operating costs and expenses — — Total benefits and other deductions 83 76 Net income (loss), before income taxes (2) 16 Income tax (expense) benefit (1) (2) Net income (loss) $ (3) $ 14

DAC AND OTHER DEFERRED ASSETS_L

DAC AND OTHER DEFERRED ASSETS/LIABILITIES	3 Months Ended
DAC AND OTHER DEFERRED ASSETS/LIABILITIES	Mar. 31, 2023
Contract holder Bonus Interest Credits [Abstract]
DAC AND OTHER DEFERRED ASSETS/LIABILITIES	6) DAC AND OTHER DEFERRED ASSETS/LIABILITIES Changes in the DAC asset for the three months ended March 31, 2023 and 2022 were as follows: Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 362 $ 179 $ 889 $ 185 $ 1,625 $ 156 $ 148 $ 1,279 $ 593 $ 710 $ 89 $ 127 $ 6,342 Capitalization 4 1 35 3 19 3 11 101 6 16 3 — 202 Amortization (10) (3) (14) (3) (35) (3) (3) (47) (16) (10) (5) (3) (152) Balance, March 31, 2023 $ 356 $ 177 $ 910 $ 185 $ 1,609 $ 156 $ 156 $ 1,333 $ 583 $ 716 $ 87 $ 124 $ 6,392 ______________ (1) “CB” defined as Closed Block Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 385 $ 180 $ 799 $ 180 $ 1,653 $ 156 $ 121 $ 1,070 $ 631 $ 677 $ 94 $ 138 $ 6,084 Capitalization 4 3 36 4 31 3 10 88 8 18 4 — 209 Amortization (2) (10) (3) (12) (2) (33) (3) (4) (40) (16) (10) (5) (3) (141) Balance, March 31, 2022 $ 379 $ 180 $ 823 $ 182 $ 1,651 $ 156 $ 127 $ 1,118 $ 623 $ 685 $ 93 $ 135 $ 6,152 ______________ (1) “CB” defined as Closed Block. (2) DAC amortization of $2 million related to Other not reflected in table above. Changes in the Individual Retirement Sales Inducement Assets for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance beginning of the period $ 137 $ 200 $ 147 $ 222 Amortization (3) (5) (3) (6) Balance, end of the period $ 134 $ 195 $ 144 $ 216 Changes in the Protection Solution Unearned Revenue Liability for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 UL VUL IUL UL VUL IUL (in millions) Balance beginning of the period $ 95 $ 684 $ 157 $ 80 $ 619 $ 94 Capitalization 5 27 17 5 25 18 Amortization (2) (10) (3) (1) (10) (2) Balance, end of the period $ 98 $ 701 $ 171 $ 84 $ 634 $ 110 The following table presents a reconciliation of DAC to the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Protection Solutions Term $ 356 $ 362 Universal Life 177 179 Variable Universal Life 910 889 Indexed Universal Life 185 185 Individual Retirement GMxB Core 1,609 1,625 EQUI-VEST Individual 156 156 Investment Edge 156 148 SCS 1,333 1,279 Legacy Segment GMxB Legacy 583 593 Group Retirement EQUI-VEST Group 716 710 Momentum 87 89 Corporate and Other 124 127 Other 27 27 Total $ 6,419 $ 6,369 Annually, or as circumstances warrant, we will review the associated decrements assumptions. (i.e. mortality and lapse) based on our multi-year average of companies experience with actuarial judgements to reflect other observable industry trends. In addition to DAC, the Unearned Revenue Liability and Sales Inducement Asset (“SIA”) use similar techniques and quarterly update processes for balance amortization. Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of the period $ 2,100 $ — $ — $ — $ (5) $ 2,485 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,078 — — — (5) 1,864 — — — 19 Effect of changes in cash flow assumptions 8 — — — — — — — — — Effect of actual variances from expected experience 3 — — — (6) 56 — — — (18) Adjusted beginning of the period balance 2,089 — — — (11) 1,920 — — — 1 Issuances 15 — — — — 22 — — — — Interest accrual 25 — — — — 23 — — — — Net premiums collected (51) — — — 1 (49) — — — — Ending Balance at original discount rate 2,078 — — — (10) 1,916 — — — 1 Effect of changes in discount rate assumptions 82 — — — — 387 — — — 1 Balance, end of the period $ 2,160 $ — $ — $ — $ (10) $ 2,303 $ — $ — $ — $ 2 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of the period $ 3,465 $ 828 $ 2,689 $ 523 $ 1,553 $ 4,294 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,391 845 3,024 583 1,795 3,241 883 2,400 632 1,915 Effect of changes in cash flow assumptions 9 — — — — — — — — — Effect of actual variances from expected experience 4 1 — (1) (7) 60 — (4) — (20) Adjusted beginning of the period balance 3,404 846 3,024 582 1,788 3,301 883 2,396 632 1,895 Issuances 16 15 222 — — 23 9 152 — — Interest accrual 42 10 21 5 15 42 10 16 5 15 Benefits payments (95) (23) (65) (17) (33) (137) (24) (47) (18) (41) Ending Balance at original discount rate 3,367 848 3,202 570 1,770 3,229 878 2,517 619 1,869 Effect of changes in discount rate assumptions 164 6 (258) (48) (197) 650 126 (58) 2 (5) Balance, end of the period $ 3,531 $ 854 $ 2,944 $ 522 $ 1,573 $ 3,879 $ 1,004 $ 2,459 $ 621 $ 1,864 Net liability for future policy benefits $ 1,371 $ 854 $ 2,944 $ 522 $ 1,583 $ 1,576 $ 1,004 $ 2,459 $ 621 $ 1,862 Less: Reinsurance recoverable 27 — (589) — (1,258) 16 — (203) — (1,479) Net liability for future policy benefits, after reinsurance recoverable $ 1,398 $ 854 $ 2,355 $ 522 $ 325 $ 1,592 $ 1,004 $ 2,256 $ 621 $ 383 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.4 7.9 7.1 8.7 7.5 9.6 8.4 7.2 8.9 The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,371 $ 1,365 Individual Retirement - Payout 853 828 Legacy - Payout 2,944 2,689 Group Pension - Benefit Reserve & DPL 523 523 Health 1,583 1,558 Universal Life - additional liability for death benefits 1,133 1,109 Subtotal 8,407 8,072 W hole Life Closed Block and Open Block products 5,597 5,664 Other (1) 904 908 Future policyholder benefits total 14,908 14,644 Other policyholder funds and dividends payable 1,830 1,959 Total $ 16,738 $ 16,603 _____________ (1) Primarily consists of Future policy benefits related to Protective Life and Annuity, Assumed Life and DI, GRP Life Run off, VISL rider and Employee Benefits. The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,972 $ 6,022 Expected future gross premiums (undiscounted) 7,188 7,273 Expected future benefit payments and expenses (discounted; AOCI basis) 3,531 3,465 Expected future gross premiums (discounted; AOCI basis) 3,981 3,904 Payout - Legacy Expected future benefit payments and expenses (undiscounted) 4,227 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 2,861 2,607 Expected future gross premiums (discounted; AOCI basis) — — Payout Expected future benefit payments and expenses (undiscounted) 1,456 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 825 801 Expected future gross premiums (discounted; AOCI basis) — — March 31, 2023 December 31, 2022 (in millions) Group Pension Expected future benefit payments and expenses (undiscounted) 713 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 550 563 Expected future gross premiums (discounted; AOCI basis) — — Health Expected future benefit payments and expenses (undiscounted) 2,469 2,510 Expected future gross premiums (undiscounted) 94 99 Expected future benefit payments and expenses (discounted; AOCI basis) 1,553 1,533 Expected future gross premiums (discounted; AOCI basis) $ 75 $ 78 The tables below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 70 $ 71 $ 17 $ 18 Payout - Legacy 27 21 21 16 Payout 15 9 10 11 Group Pension — — 5 5 Health 2 2 15 15 Total $ 114 $ 103 $ 68 $ 65 The following table provides the weighted average interest rates for the liability for future policy benefits as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Weighted Average Interest Rate Term Life Interest accretion rate 5.6 % 5.7 % Current discount rate 4.7 % 5.1 % Payout - Legacy Interest accretion rate 3.6 % 3.4 % Current discount rate 4.8 % 5.0 % Payout Interest accretion rate 4.9 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.4 % 3.4 % Current discount rate 4.7 % 5.1 % Health Interest accretion rate 3.3 % 3.3 % Current discount rate 4.9 % 5.2 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 Protection Solutions Universal Life Universal Life (Dollars in millions) Balance, beginning of the period $ 1,109 $ 1,087 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate & cash flow assumptions and model changes — 5 Effect of actual variances from expected experience 6 5 Adjusted beginning of the period balance 1,141 1,086 Interest accrual 13 12 Net assessments collected 18 21 Benefit payments (18) (29) Ending balance before shadow reserve adjustments 1,154 1,090 Effect of reserve adjustment recorded in AOCI (21) (2) Balance, end of the period $ 1,133 $ 1,088 Net liability for additional liability $ 1,133 $ 1,088 Less: Reinsurance recoverable — — Net liability for additional liability, after reinsurance recoverable $ 1,133 $ 1,088 Weighted-average duration of additional liability - death benefit (years) 21.6 22.9 The following tables provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities for the three months ended and as of March 31, 2023 and 2022. Three Months Ended March 31, 2023 2022 2023 2022 Assessments Interest Accretion (in millions) Revenue and Interest Accretion Universal Life $ 172 $ 180 $ 13 $ 12 Total $ 172 $ 180 $ 13 $ 12 March 31, 2023 2022 Weighted Average Interest Rate Universal Life 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % The discount rate used for additional insurance liabilities reserve is based on the crediting rate at issue.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
FAIR VALUE DISCLOSURES	Mar. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. For the period ended March 31, 2023, the Company recognized impairment adjustments and impairment losses, respectively, to adjust the carrying value of held-for-sale asset and liabilities to their fair value less cost to sell. The value is measured on a nonrecurring basis and categorized within Level 3 of the fair value hierarchy. The fair value was determined using a market approach, estimated based on the negotiated value of the asset and liabilities. See Note 20 of the Notes to these Consolidated Financial Statements for additional details of the Held-for-Sale assets and liabilities. As of December 31, 2022, no assets or liabilities were required to be measured at fair value on a non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of March 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments Fixed maturities, AFS: Corporate (1) $ — $ 43,143 $ 1,950 $ 45,093 U.S. Treasury, government and agency — 6,069 — 6,069 States and political subdivisions — 547 28 575 Foreign governments — 898 — 898 Residential mortgage-backed (2) — 847 — 847 Asset-backed (3) — 8,230 12 8,242 Commercial mortgage-backed — 3,264 34 3,298 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 63,041 2,024 65,065 Fixed maturities, at fair value using the fair value option — 1,347 196 1,543 Other equity investments (6) 210 486 11 707 Trading securities 296 477 55 828 Other invested assets: Short-term investments — 1,170 — 1,170 Assets of consolidated VIEs/VOEs 144 403 4 551 Swaps — (355) — (355) Credit default swaps — 5 — 5 Futures (5) — — (5) Options — 5,859 — 5,859 Total other invested assets 139 7,082 4 7,225 Cash equivalents 3,462 272 — 3,734 Segregated securities — 1,055 — 1,055 Purchased market risk benefits — — 10,676 10,676 Assets for market risk benefits — — 629 629 Separate Accounts assets (4) 116,581 2,557 1 119,139 Total Assets $ 120,688 $ 76,317 $ 13,596 $ 210,601 Liabilities: Notes issued by consolidated VIE’s, at fair value using the fair value option (5) $ — $ 1,383 $ — $ 1,383 SCS, SIO, MSO and IUL indexed features’ liability — 6,063 — 6,063 Liabilities of consolidated VIEs and VOEs 15 1 — 16 Liabilities for market risk benefits — — 15,061 15,061 Contingent payment arrangements — — 248 248 Total Liabilities $ 15 $ 7,447 $ 15,309 $ 22,771 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of March 31, 2023, the fair value of such investments was $425 million. (5) Includes CLO short-term debt of $231 million, which is inclusive as fair valued within Notes issued by consolidated VIE’s, at fair value using the fair value option. Accrued interest payable of $17 million is reported in Notes issued by consolidated VIE’s, at fair value using the fair value option in the consolidated balance sheets, which is not required to be measured at fair value on a recurring basis. (6) Includes short position equity securities of $17 million that are reported in other liabilities. Fair Value Measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments Fixed maturities, AFS: Corporate (1) $ — $ 41,450 $ 2,121 $ 43,571 U.S. Treasury, government and agency — 5,837 — 5,837 States and political subdivisions — 499 28 527 Foreign governments — 836 — 836 Residential mortgage-backed (2) — 788 34 822 Asset-backed (3) — 8,490 — 8,490 Commercial mortgage-backed (2) — 3,203 32 3,235 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 61,146 2,215 63,361 Fixed maturities, at fair value using the fair value option 1,284 224 1,508 Other equity investments (6) 214 497 12 723 Trading securities 290 332 55 677 Other invested assets: Short-term investments — 943 — 943 Assets of consolidated VIEs/VOEs 131 393 5 529 Swaps — (425) — (425) Credit default swaps — 9 — 9 Futures 2 — — 2 Options — 4,171 — 4,171 Total other invested assets 133 5,091 5 5,229 Cash equivalents 2,386 501 — 2,887 Segregated securities — 1,522 — 1,522 Purchased market risk benefits — — 10,423 10,423 Assets for market risk benefits — — 490 490 Separate Accounts assets (4) 111,744 2,436 1 114,181 Total Assets $ 114,767 $ 72,809 $ 13,425 $ 201,001 Liabilities: Notes issued by consolidated VIE’s, at fair value using the fair value option (5) $ — $ 1,374 $ — $ 1,374 SCS, SIO, MSO and IUL indexed features’ liability — 4,164 — 4,164 Liabilities of consolidated VIEs and VOEs 15 7 — 22 Liabilities for market risk benefits — — 15,766 15,766 Contingent payment arrangements — — 247 247 Total Liabilities $ 15 $ 5,545 $ 16,013 $ 21,573 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2022, the fair value of such investments was $456 million. (5) Includes CLO short-term debt of $239 million, which is inclusive as fair valued within Notes issued by consolidated VIE’s, at fair value using the fair value option Accrued interest payable of $15 million is reported in Notes issued by consolidated VIE’s, at fair value using the fair value option in the consolidated balance sheets, which is not required to be measured at fair value on a recurring basis. (6) Includes short position equity securities of $12 million that are reported in other liabilities. Public Fixed Maturities The fair values of the Company’s public fixed maturities, including those accounted for using the fair value option are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Private Fixed Maturities The fair values of the Company’s private fixed maturities, including those accounted for using the fair value option are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. Notes issued by consolidated VIE’s, at fair value using the fair value option These notes are based on the fair values of corresponding fixed maturity collateral. The CLO liabilities are also reduced by the fair value of the beneficial interests the Company retains in the CLO and the carrying value of any beneficial interests that represent compensation for services. As the notes are valued based on the reference collateral, they are classified as Level 2 or 3. Freestanding Derivative Positions The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 of the Notes to these Consolidated Financial Statements are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Level Classifications of the Company’s Financial Instruments Financial Instruments Classified as Level 1 Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Financial Instruments Classified as Level 2 Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities, certain corporate debt securities and financial assets and liabilities accounted for using the fair value option, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Segregated securities classified as Level 2 are U.S. Treasury bills segregated by AB in a special reserve bank custody account for the exclusive benefit of brokerage customers, as required by Rule 15c3-3 of the Exchange Act and for which fair values are based on quoted yields in secondary markets. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as the SCS, EQUI-VEST variable annuity products, IUL and the MSO fund available in some life contracts, offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected, can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are classified as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. Financial Instruments Classified as Level 3 The Company’s investments classified as Level 3 primarily include corporate debt securities and financial assets and liabilities accounted for using the fair value option, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. The GMIBNLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The optional GMIB feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. The GMDB feature guarantees that the benefit paid upon death will not be less than a guaranteed benefit base. If the contract’s account value is less than the benefit base at the time a death claim is paid, the amount payable will be equal to the benefit base. These are accounted for as market risk benefits carried at fair value and are also considered Level 3 for fair value leveling. Purchased MRB assets, which are accounted for as market risk benefits carried at fair value are also considered Level 3 for fair value leveling. The Purchased MRB asset fair value reflects the present value of reinsurance premiums, net of recoveries, adjusted for risk margins and nonperformance risk over a range of market consistent economic scenarios while the MRB asset and liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to the MRB liability over a range of market-consistent economic scenarios. The valuations of the Market Risk Benefits and Purchased MRB assets incorporate significant non-observable assumptions related to policyholder behavior, risk margins and projections of equity Separate Account funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its Market Risk Benefits and Purchased MRB asset after taking into account the effects of collateral arrangements. Incremental adjustment to the risk free curve for counterparty non-performance risk is made to the fair values of the Purchased MRB assets. Risk margins were applied to the non-capital markets inputs to the Market Risk Benefits and Purchased MRB valuations. After giving consideration to collateral arrangements, the Company reduced the fair value of its Purchased MRB asset by $1.2 billion and $1.1 billion as of March 31, 2023 and December 31, 2022, respectively, to recognize incremental counterparty non-performance risk. The Company’s Level 3 liabilities include contingent payment arrangements associated with acquisitions in 2020 and 2022 by AB. At each reporting date, AB estimates the fair values of the contingent consideration expected to be paid based upon revenue and discount rate projections, using unobservable market data inputs, which are included in Level 3 of the valuation hierarchy. The Company’s consolidated VIEs/VOEs hold investments that are classified as Level 3, primarily corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. Transfers of Financial Instruments Between Levels 2 and 3 During the three months ended March 31, 2023, fixed maturities with fair values of $401 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $56 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 8.4% of total equity as of March 31, 2023. During the three months ended March 31, 2022, fixed maturities with fair values of $110 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $258 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 3.9% of total equity as of March 31, 2022. The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses) for the three months ended March 31, 2023 and 2022, respectively. Not included below are the changes in balances related to market risk benefits and purchased market risk level 3 assets and liabilities, which are included in Note 9 of the Notes to these Consolidated Financial Statements. Corporate State and Political Subdivisions Asset-backed CMBS RMBS Trading Securities, at Fair Value Fixed maturities, at FVO (in millions) Balance, January 1, 2023 $ 2,121 $ 28 $ — $ 32 $ 34 $ 55 $ 224 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — — — 3 Investment gains (losses), net (3) — — — — — — Subtotal (1) — — — — — 3 Other comprehensive income (loss) 18 — — — — — — Purchases 171 — 12 2 — — 12 Sales (91) — — — — — — Activity related to consolidated VIEs/VOEs — — — — — — — Transfers into Level 3 (1) — — — — — — 56 Transfers out of Level 3 (1) (268) — — — (34) — (99) Balance, March 31, 2023 $ 1,950 $ 28 $ 12 $ 34 $ — $ 55 $ 196 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — $ — $ — $ 3 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 17 $ — $ — $ — $ — $ — $ — Balance, January 1, 2022 $ 1,504 $ 35 $ 8 $ 20 $ — $ 65 $ 201 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — — — — (4) Investment gains (losses), net 1 — — — — (13) — Subtotal 2 — — — — (13) (4) Other comprehensive income (loss) (31) (2) — (1) — — — Purchases 232 — 325 219 — — 89 Sales (87) (1) (1) — — — (29) Activity related to consolidated VIEs/VOEs — — — — — — — Transfers into Level 3 (1) 70 — — — — — 188 Transfers out of Level 3 (1) (7) — — — — — (103) Balance, March 31, 2022 $ 1,683 $ 32 $ 332 $ 238 $ — $ 52 $ 342 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — $ — $ (13) $ (4) Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (29) $ (2) $ — $ (1) $ — $ — $ — _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of March 31, 2023 and March 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Other Equity Investments (3) Separate Accounts Assets Contingent Payment Arrangement (in millions) Balance, January 1, 2023 $ 17 $ 1 $ (247) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income (3) — — Net derivative gains (losses) — — — Total realized and unrealized gains (losses) (3) — — Other comprehensive income (loss) — — — Purchases — — Sales — — — Settlements — — — Other — — (1) Activity related to consolidated VIEs/VOEs — — — Transfers into Level 3 (1) 1 — — Transfers out of Level 3 (1) — — — Balance, March 31, 2023 $ 15 $ 1 $ (248) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (3) $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — Balance, January 1, 2022 $ 16 $ 1 $ (38) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — Net derivative gains (losses) — — — Total realized and unrealized gains (losses) — — — Other comprehensive income (loss) — — — Purchases — — 1 Sales — (1) — Other — — — Activity related to consolidated VIEs/VOEs (2) — — Transfers into Level 3 (1) — — — Transfers out of Level 3 (1) (3) — — Balance, March 31, 2022 $ 11 $ — $ (37) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair (2) For instruments held as of March 31, 2023 and March 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets. Quantitative and Qualitative Information about Level 3 Fair Value Measurements The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2023 and December 31, 2022, respectively. Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2023 Fair Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 475 Matrix pricing model Spread over Benchmark 20 bps - 270 bps 175 bps 1,001 Market comparable EBITDA multiples Discount rate Cash flow multiples Loan to value 5.3x - 31.5x 8.3% - 24.8% 0.5x - 11.0x 0.0% - 68.7% 14.7x 10.0% 6.8x 0.9% Trading Securities, at Fair Value 55 Discounted Cash Flow Earnings multiple Discount factor Discount years 8.3x 10.0% 7 Other equity investments 2 Discounted Cash Flow Earnings Multiple 7.0x - 11.0x 9.2x Purchased MRB asset (1) (2) (4) 10,676 Discounted cash flow Lapse rates Withdrawal rates GMIB Utilization rates Non-performance risk Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.26%-26.23% 0.06%-10.93% 0.04%-66.66% 65 bps - 149 bps 17%-26% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 1.52% 0.70% 7.42% 69 bps 22% 2.85% (same for all ages) (same for all ages) Liabilities: AB Contingent Consideration Payable $ 248 Discounted cash flow Expected revenue growth rates Discount rate 2.0% - 83.9% 1.9% - 10.4% 10.3% 4.6% Direct MRB (1) (2) (3) (4) 14,432 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 191 bps 0.26%-35.42% 0.00%-10.93% 0.04%-100.00% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 191 bps 2.77% 0.62% 4.99% 2.18% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. Utilization rates were developed as a function of the benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $15.1 billion of MRB liabilities and $629 million of MRB assets. (4) Includes Legacy and Core products. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2022 Fair Valuation Significant Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 417 Matrix pricing model Spread over benchmark 20 bps - 797 bps 205 bps 1,029 Market comparable companies EBITDA multiples Discount rate Cash flow multiples Loan to value 5.3x - 35.8x 9.0% - 45.7% 0.0x-10.3x 0.0%-40.4% 13.6x 11.9% 6.1x 12.0% Trading Securities, at Fair Value 55 Discounted cash flow Earnings multiple Discounts factor Discount years 8.3x 10.00% 7 Other equity investments 4 Market comparable companies Revenue multiple 0.5x - 10.8x 2.4x Purchased MRB asset (1) (2) (4) 10,423 Discounted cash flow Lapse rates Withdrawal rates GMIB Utilization rates Non-performance risk Volatility rates - Equity

LIABILITIES FOR FUTURE POLICYHO

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	3 Months Ended
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	Mar. 31, 2023
Insurance [Abstract]
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS	6) DAC AND OTHER DEFERRED ASSETS/LIABILITIES Changes in the DAC asset for the three months ended March 31, 2023 and 2022 were as follows: Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 362 $ 179 $ 889 $ 185 $ 1,625 $ 156 $ 148 $ 1,279 $ 593 $ 710 $ 89 $ 127 $ 6,342 Capitalization 4 1 35 3 19 3 11 101 6 16 3 — 202 Amortization (10) (3) (14) (3) (35) (3) (3) (47) (16) (10) (5) (3) (152) Balance, March 31, 2023 $ 356 $ 177 $ 910 $ 185 $ 1,609 $ 156 $ 156 $ 1,333 $ 583 $ 716 $ 87 $ 124 $ 6,392 ______________ (1) “CB” defined as Closed Block Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 385 $ 180 $ 799 $ 180 $ 1,653 $ 156 $ 121 $ 1,070 $ 631 $ 677 $ 94 $ 138 $ 6,084 Capitalization 4 3 36 4 31 3 10 88 8 18 4 — 209 Amortization (2) (10) (3) (12) (2) (33) (3) (4) (40) (16) (10) (5) (3) (141) Balance, March 31, 2022 $ 379 $ 180 $ 823 $ 182 $ 1,651 $ 156 $ 127 $ 1,118 $ 623 $ 685 $ 93 $ 135 $ 6,152 ______________ (1) “CB” defined as Closed Block. (2) DAC amortization of $2 million related to Other not reflected in table above. Changes in the Individual Retirement Sales Inducement Assets for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance beginning of the period $ 137 $ 200 $ 147 $ 222 Amortization (3) (5) (3) (6) Balance, end of the period $ 134 $ 195 $ 144 $ 216 Changes in the Protection Solution Unearned Revenue Liability for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 UL VUL IUL UL VUL IUL (in millions) Balance beginning of the period $ 95 $ 684 $ 157 $ 80 $ 619 $ 94 Capitalization 5 27 17 5 25 18 Amortization (2) (10) (3) (1) (10) (2) Balance, end of the period $ 98 $ 701 $ 171 $ 84 $ 634 $ 110 The following table presents a reconciliation of DAC to the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Protection Solutions Term $ 356 $ 362 Universal Life 177 179 Variable Universal Life 910 889 Indexed Universal Life 185 185 Individual Retirement GMxB Core 1,609 1,625 EQUI-VEST Individual 156 156 Investment Edge 156 148 SCS 1,333 1,279 Legacy Segment GMxB Legacy 583 593 Group Retirement EQUI-VEST Group 716 710 Momentum 87 89 Corporate and Other 124 127 Other 27 27 Total $ 6,419 $ 6,369 Annually, or as circumstances warrant, we will review the associated decrements assumptions. (i.e. mortality and lapse) based on our multi-year average of companies experience with actuarial judgements to reflect other observable industry trends. In addition to DAC, the Unearned Revenue Liability and Sales Inducement Asset (“SIA”) use similar techniques and quarterly update processes for balance amortization. Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of the period $ 2,100 $ — $ — $ — $ (5) $ 2,485 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,078 — — — (5) 1,864 — — — 19 Effect of changes in cash flow assumptions 8 — — — — — — — — — Effect of actual variances from expected experience 3 — — — (6) 56 — — — (18) Adjusted beginning of the period balance 2,089 — — — (11) 1,920 — — — 1 Issuances 15 — — — — 22 — — — — Interest accrual 25 — — — — 23 — — — — Net premiums collected (51) — — — 1 (49) — — — — Ending Balance at original discount rate 2,078 — — — (10) 1,916 — — — 1 Effect of changes in discount rate assumptions 82 — — — — 387 — — — 1 Balance, end of the period $ 2,160 $ — $ — $ — $ (10) $ 2,303 $ — $ — $ — $ 2 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of the period $ 3,465 $ 828 $ 2,689 $ 523 $ 1,553 $ 4,294 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,391 845 3,024 583 1,795 3,241 883 2,400 632 1,915 Effect of changes in cash flow assumptions 9 — — — — — — — — — Effect of actual variances from expected experience 4 1 — (1) (7) 60 — (4) — (20) Adjusted beginning of the period balance 3,404 846 3,024 582 1,788 3,301 883 2,396 632 1,895 Issuances 16 15 222 — — 23 9 152 — — Interest accrual 42 10 21 5 15 42 10 16 5 15 Benefits payments (95) (23) (65) (17) (33) (137) (24) (47) (18) (41) Ending Balance at original discount rate 3,367 848 3,202 570 1,770 3,229 878 2,517 619 1,869 Effect of changes in discount rate assumptions 164 6 (258) (48) (197) 650 126 (58) 2 (5) Balance, end of the period $ 3,531 $ 854 $ 2,944 $ 522 $ 1,573 $ 3,879 $ 1,004 $ 2,459 $ 621 $ 1,864 Net liability for future policy benefits $ 1,371 $ 854 $ 2,944 $ 522 $ 1,583 $ 1,576 $ 1,004 $ 2,459 $ 621 $ 1,862 Less: Reinsurance recoverable 27 — (589) — (1,258) 16 — (203) — (1,479) Net liability for future policy benefits, after reinsurance recoverable $ 1,398 $ 854 $ 2,355 $ 522 $ 325 $ 1,592 $ 1,004 $ 2,256 $ 621 $ 383 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.4 7.9 7.1 8.7 7.5 9.6 8.4 7.2 8.9 The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,371 $ 1,365 Individual Retirement - Payout 853 828 Legacy - Payout 2,944 2,689 Group Pension - Benefit Reserve & DPL 523 523 Health 1,583 1,558 Universal Life - additional liability for death benefits 1,133 1,109 Subtotal 8,407 8,072 W hole Life Closed Block and Open Block products 5,597 5,664 Other (1) 904 908 Future policyholder benefits total 14,908 14,644 Other policyholder funds and dividends payable 1,830 1,959 Total $ 16,738 $ 16,603 _____________ (1) Primarily consists of Future policy benefits related to Protective Life and Annuity, Assumed Life and DI, GRP Life Run off, VISL rider and Employee Benefits. The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,972 $ 6,022 Expected future gross premiums (undiscounted) 7,188 7,273 Expected future benefit payments and expenses (discounted; AOCI basis) 3,531 3,465 Expected future gross premiums (discounted; AOCI basis) 3,981 3,904 Payout - Legacy Expected future benefit payments and expenses (undiscounted) 4,227 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 2,861 2,607 Expected future gross premiums (discounted; AOCI basis) — — Payout Expected future benefit payments and expenses (undiscounted) 1,456 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 825 801 Expected future gross premiums (discounted; AOCI basis) — — March 31, 2023 December 31, 2022 (in millions) Group Pension Expected future benefit payments and expenses (undiscounted) 713 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 550 563 Expected future gross premiums (discounted; AOCI basis) — — Health Expected future benefit payments and expenses (undiscounted) 2,469 2,510 Expected future gross premiums (undiscounted) 94 99 Expected future benefit payments and expenses (discounted; AOCI basis) 1,553 1,533 Expected future gross premiums (discounted; AOCI basis) $ 75 $ 78 The tables below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 70 $ 71 $ 17 $ 18 Payout - Legacy 27 21 21 16 Payout 15 9 10 11 Group Pension — — 5 5 Health 2 2 15 15 Total $ 114 $ 103 $ 68 $ 65 The following table provides the weighted average interest rates for the liability for future policy benefits as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Weighted Average Interest Rate Term Life Interest accretion rate 5.6 % 5.7 % Current discount rate 4.7 % 5.1 % Payout - Legacy Interest accretion rate 3.6 % 3.4 % Current discount rate 4.8 % 5.0 % Payout Interest accretion rate 4.9 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.4 % 3.4 % Current discount rate 4.7 % 5.1 % Health Interest accretion rate 3.3 % 3.3 % Current discount rate 4.9 % 5.2 % The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 Protection Solutions Universal Life Universal Life (Dollars in millions) Balance, beginning of the period $ 1,109 $ 1,087 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate & cash flow assumptions and model changes — 5 Effect of actual variances from expected experience 6 5 Adjusted beginning of the period balance 1,141 1,086 Interest accrual 13 12 Net assessments collected 18 21 Benefit payments (18) (29) Ending balance before shadow reserve adjustments 1,154 1,090 Effect of reserve adjustment recorded in AOCI (21) (2) Balance, end of the period $ 1,133 $ 1,088 Net liability for additional liability $ 1,133 $ 1,088 Less: Reinsurance recoverable — — Net liability for additional liability, after reinsurance recoverable $ 1,133 $ 1,088 Weighted-average duration of additional liability - death benefit (years) 21.6 22.9 The following tables provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities for the three months ended and as of March 31, 2023 and 2022. Three Months Ended March 31, 2023 2022 2023 2022 Assessments Interest Accretion (in millions) Revenue and Interest Accretion Universal Life $ 172 $ 180 $ 13 $ 12 Total $ 172 $ 180 $ 13 $ 12 March 31, 2023 2022 Weighted Average Interest Rate Universal Life 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 % The discount rate used for additional insurance liabilities reserve is based on the crediting rate at issue.

MARKET RISK BENEFITS

MARKET RISK BENEFITS	3 Months Ended
MARKET RISK BENEFITS	Mar. 31, 2023
Market Risk Benefit [Abstract]
MARKET RISK BENEFITS	MARKET RISK BENEFITSThe following table presents the balances and changes to the balances for the market risk benefits for the GMxB benefits on deferred variable annuities for the three months ended and as of March 31, 2023 and 2022. March 31, 2023 March 31, 2022 Individual Retirement Legacy Individual Retirement Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy (in millions) Balance, beginning of the period (“BOP”) $ 530 $ 14,699 $ (10,415) $ 4,284 $ 1,061 $ 20,236 $ (14,059) $ 6,177 Balance BOP before changes in the instrument specific credit risk 529 15,314 (10,358) 4,956 666 19,719 (14,051) 5,668 Model changes and effect of changes in cash flow assumptions — — — — — (87) 29 (58) Actual market movement effect (211) (744) 387 (357) 328 1,098 (399) 699 Interest accrual 18 197 (153) 44 5 104 (61) 43 Attributed fees accrued (1) 95 209 (83) 126 92 219 (86) 133 Benefit payments (12) (342) 185 (157) (5) (251) 136 (115) Actual policyholder behavior different from expected behavior 7 21 (18) 3 1 33 (15) 18 Changes in future economic assumptions 125 944 (530) 414 (542) (2,934) 2,006 (928) Issuances (1) — — — (5) — — — Balance EOP before changes in the instrument-specific credit risk $ 550 $ 15,599 $ (10,570) $ 5,029 $ 540 $ 17,901 $ (12,441) $ 5,460 Changes in the instrument-specific credit risk (2) (233) (1,517) (99) (1,616) (42) (970) (66) (1,036) Balance, end of the period (“EOP”) $ 317 $ 14,082 $ (10,669) $ 3,413 $ 498 $ 16,931 $ (12,507) $ 4,424 Weighted-average age of policyholders (years) 63.7 72.8 67.7 N/A 62.8 72.2 67.1 N/A Net amount at risk $ 3,287 $ 21,472 $ 10,045 N/A $ 1,787 $ 17,987 $ 7,657 N/A _____________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk amounts in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Direct Asset Direct Liability Net Direct MRB Purchased MRB Total Direct Asset Direct Liability Net Direct MRB Purchased MRB Total (in millions) Legacy Segment GMxB Legacy $ (74) $ 14,156 $ 14,082 $ (10,669) $ 3,413 $ (51) $ 14,749 $ 14,699 $ (10,412) $ 4,287 Individual Retirement GMxB Core (498) 815 317 — 317 (387) 917 530 — 530 Other (1) (57) 90 33 (7) 26 (52) 100 47 (11) 36 Total $ (629) $ 15,061 $ 14,432 $ (10,676) $ 3,756 $ (490) $ 15,766 $ 15,276 $ (10,423) $ 4,853 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.

POLICYHOLDER ACCOUNT BALANCES

POLICYHOLDER ACCOUNT BALANCES	3 Months Ended
POLICYHOLDER ACCOUNT BALANCES	Mar. 31, 2023
Policyholder Account Balance [Abstract]
POLICYHOLDER ACCOUNT BALANCES	POLICYHOLDER ACCOUNT BALANCES The following table summarizes the balances and changes in policyholders’ account balances three months ended and as of March 31, 2023 and 2022: Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 5,340 $ 4,909 $ 688 $ 69 $ 35,702 $ 2,652 $ 12,045 $ 702 Issuances — — — — — — — — Premiums received 184 38 20 46 — 11 148 19 Policy charges (194) (65) 19 (4) (1) — (1) — Surrenders and withdrawals (18) (1) (25) (8) (607) (94) (405) (30) Benefit payments (76) (40) (24) (1) (59) (20) (17) (2) Net transfers from (to) separate account — (45) — (49) 1,982 3 69 (9) Interest credited (2) 55 55 7 2 1,620 19 102 3 Other — — — — — 3 11 — Balance, end of the period $ 5,291 $ 4,851 $ 685 $ 55 $ 38,637 $ 2,574 $ 11,952 $ 683 Weighted-average crediting rate 3.64% 3.81% 1.78% 1.05% 1.12% 3.09% 2.99% 2.03% Net amount at risk (3) $ 37,031 $ 114,419 $ 21,472 $ 3,287 $ 43 $ 128 $ 58 $ — Cash surrender value $ 3,475 $ 3,293 $ 957 $ 284 $ 35,286 $ 2,567 $ 11,871 $ 684 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. March 31, 2022 Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (in millions) Balance, beginning of the period $ 5,462 $ 4,807 $ 745 $ 112 $ 33,443 $ 2,784 $ 11,951 $ 704 Issuances — — — — — — — — Premiums received 191 47 16 40 — 15 149 23 Policy charges (200) (55) 13 (10) — — (1) — Surrenders and withdrawals (20) — (16) (8) (714) (45) (195) (36) Benefit payments (53) (3) (27) (1) (59) (15) (19) (1) Net transfers from (to) separate account — 12 4 (38) 1,717 10 109 23 Interest credited (2) 56 43 7 2 (272) 20 66 3 Other — — — — — — — — Balance, end of the period $ 5,436 $ 4,851 $ 742 $ 97 $ 34,115 $ 2,769 $ 12,060 $ 716 Weighted-average crediting rate 3.62% 3.83% 1.81% 1.05% 1.14% 2.86% 2.36% 2.04% Net amount at risk (3) $ 39,254 $ 112,430 $ 17,987 $ 1,787 $ 10 $ 104 $ 19 $ — Cash surrender value $ 3,521 $ 3,403 $ 1,031 $ 309 $ 31,608 $ 2,761 $ 11,982 $ 716 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account (2) SCS and EQUI-VEST includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Policyholders’ account balance reconciliation Protection Solution Universal Life $ 5,291 $ 5,340 Variable Universal Life 4,851 4,909 Legacy Segment GMxB Legacy 685 688 Individual Retirement GMxB Core 55 69 EQUI-VEST Individual 2,574 2,652 SCS 38,637 35,702 Group Retirement EQUI-VEST Group 11,952 12,045 Momentum 683 702 Other (1) 6,235 6,122 Balance (exclusive of Funding Agreements) 70,963 68,229 Funding Agreements 15,798 15,637 Balance, end of the period $ 86,761 $ 83,866 _____________ (1) Primarily reflects products, IR Payout, IR Other, Indexed Universal Life, Investment Edge, Group Pension, Closed Block and Corporate and Other other. The following table presents the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums as of March 31, 2023 and December 31, 2022. March 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) Protection Solutions Universal Life 0.00% - 1.50% $ — $ — $ 4 $ 1 $ 5 1.51% - 2.50% 155 127 640 112 1,034 Greater than 2.50% 3,565 650 — — 4,215 Total $ 3,720 $ 777 $ 644 $ 113 $ 5,254 Variable Universal Life 0.00% - 1.50% $ 23 $ 51 $ 11 $ 2 $ 87 1.51% - 2.50% 384 156 — — 540 Greater than 2.50% 3,819 — 2 — 3,821 Total $ 4,226 $ 207 $ 13 $ 2 $ 4,448 Legacy Segment March 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) GMxB Legacy 0.00% - 1.50% $ 387 $ — $ — $ — $ 387 1.51% - 2.50% 539 — — — 539 Greater than 2.50% 33 — — — 33 Total $ 959 $ — $ — $ — $ 959 Individual Retirement GMxB Core 0.00% - 1.50% $ 279 $ — $ — $ — $ 279 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 293 $ — $ — $ — $ 293 EQUI-VEST Individual 0.00% - 1.50% $ 35 $ — $ 55 $ 239 $ 329 1.51% - 2.50% — — 46 — 46 Greater than 2.50% 2,121 19 59 — 2,199 Total $ 2,156 $ 19 $ 160 $ 239 $ 2,574 SCS 0.00% - 1.50% $ 31,090 $ — $ — $ — $ 31,090 1.51% - 2.50% 5,821 — — — 5,821 Greater than 2.50% — — — — — Total $ 36,911 $ — $ — $ — $ 36,911 Group Retirement EQUI-VEST Group 0.00% - 1.50% $ 58 $ 57 $ 362 $ 3,176 $ 3,653 1.51% - 2.50% 11 2 897 — 910 Greater than 2.50% 6,799 342 — — 7,141 Total $ 6,868 $ 401 $ 1,259 $ 3,176 $ 11,704 Momentum 0.00% - 1.50% $ 13 $ 291 $ 119 $ 7 $ 430 1.51% - 2.50% 174 1 — — 175 Greater than 2.50% 73 — 5 — 78 Total $ 260 $ 292 $ 124 $ 7 $ 683 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) Protection Solutions Universal Life 0.00% - 1.50% $ — $ — $ 5 $ 1 $ 6 1.51% - 2.50% 181 197 605 47 1,030 Greater than 2.50% 3,615 657 — — 4,272 Total $ 3,796 $ 854 $ 610 $ 48 $ 5,308 Variable Universal Life 0.00% - 1.50% $ 30 $ 40 $ 7 $ 1 $ 78 1.51% - 2.50% 485 53 — — 538 Greater than 2.50% 3,900 — 2 — 3,902 Total $ 4,415 $ 93 $ 9 $ 1 $ 4,518 Legacy Segment GMxB Legacy 0.00% - 1.50% $ 386 $ — $ — $ — $ 386 1.51% - 2.50% 560 — — — 560 Greater than 2.50% 35 — — — 35 Total $ 981 $ — $ — $ — $ 981 Individual Retirement GMxB Core 0.00% - 1.50% $ 289 $ — $ — $ — $ 289 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 303 $ — $ — $ — $ 303 EQUI-VEST Individual 0.00% - 1.50% $ 345 $ — $ — $ — $ 345 1.51% - 2.50% 46 — — — 46 Greater than 2.50% 2,199 — 62 — 2,261 Total $ 2,590 $ — $ 62 $ — $ 2,652 SCS 0.00% - 1.50% $ 28,086 $ — $ — $ — $ 28,086 1.51% - 2.50% 5,527 — — — 5,527 Greater than 2.50% — — — — — Total $ 33,613 $ — $ — $ — $ 33,613 Group Retirement EQUI-VEST Group 0.00% - 1.50% $ 109 $ 5 $ 366 $ 3,112 $ 3,592 1.51% - 2.50% 11 2 889 — 902 Greater than 2.50% 6,949 21 330 — 7,300 Total $ 7,069 $ 28 $ 1,585 $ 3,112 $ 11,794 Momentum 0.00% - 1.50% $ 15 $ 301 $ 122 $ 7 $ 445 1.51% - 2.50% 178 1 — — 179 Greater than 2.50% 73 — 5 — 78 Total $ 266 $ 302 $ 127 $ 7 $ 702 Separate Account - Summary The following table presents the balances of and changes in separate account liabilities three months ended and as of March 31, 2023 and 2022. Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 13,187 $ 32,616 $ 27,772 $ 4,161 $ 3,798 $ 22,393 $ 3,885 Premiums and deposits 287 65 256 26 253 531 178 Policy charges (137) (178) (115) (1) — (4) (5) Surrenders and withdrawals (117) (660) (559) (100) (95) (359) (157) Benefit payments (24) (192) (56) (14) (12) (15) (3) Investment performance (1) 843 1,808 1,202 269 175 1,438 235 Net transfers from (to) general account 45 — 49 (3) (140) (69) 9 Other charges (2) — — — 4 — 25 — Balance, end of the period $ 14,084 $ 33,459 $ 28,549 $ 4,342 $ 3,979 $ 23,940 $ 4,142 Cash surrender value $ 13,755 $ 33,181 $ 27,680 $ 4,310 $ 3,885 $ 23,702 $ 4,136 _____________ (1) Investment performance is reflected net of M&E fees. (2) EQUI-VEST Individual and EQUI-VEST Group for the three months ending March 31, 2023, amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2022 (in millions) Balance, beginning of the period $ 16,405 $ 44,912 $ 35,288 $ 5,583 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 283 55 441 42 241 523 185 Policy charges (139) (183) (114) — — (4) (5) Surrenders and withdrawals (114) (771) (690) (88) (68) (356) (210) Benefit payments (54) (186) (70) (16) (11) (20) (1) Investment performance (1) (1,032) (2,932) (2,197) (380) (257) (1,874) (326) Net transfers from (to) general account (12) (4) 38 (10) (39) (109) (23) Balance, end of the period $ 15,337 $ 40,891 $ 32,696 $ 5,131 $ 4,153 $ 25,669 $ 4,595 Cash surrender value $ 15,022 $ 40,601 $ 31,748 $ 5,096 $ 4,061 $ 25,426 $ 4,588 (1) Investment performance is reflected net of M&E fees. ______________ The following table reconciles the separate account liabilities to the separate account liability balance in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Separate Account Reconciliation Protection Solution Variable Universal Life $ 14,084 $ 13,187 Legacy Segment GMxB Legacy 33,459 32,616 Individual Retirement GMxB Core 28,549 27,772 EQUI-VEST Individual 4,342 4,161 Investment Edge 3,979 3,798 Group Retirement EQUI-VEST Group 23,940 22,393 Momentum 4,142 3,885 Other (1) 7,257 7,041 Total $ 119,752 $ 114,853 ______________ (1) Primarily reflects Corporate and Other products and Group Retirement products including Association and Group Retirement Other. The following table presents the aggregate fair value of separate account assets by major asset category as of March 31, 2023 and December 31, 2022: March 31, 2023 Protection Solutions Individual Retirement Group Retirement Corp & Other Legacy Segment Total (in millions) Asset Type Debt securities $ 63 $ 1 $ 16 $ 10 $ — $ 90 Common Stock 51 33 457 1,712 — 2,253 Mutual Funds 14,400 38,109 29,428 755 33,468 116,160 Bonds and Notes 114 3 1 1,131 — 1,249 Total $ 14,628 $ 38,146 $ 29,902 $ 3,608 $ 33,468 $ 119,752 December 31, 2022 Protection Solutions Individual Retirement Group Retirement Corp & Other Legacy Segment Total (in millions) Asset Type Debt securities $ 58 $ 1 $ 17 $ 8 $ — $ 84 Common Stock 41 32 430 1,686 — 2,189 Mutual Funds 13,498 36,860 27,639 773 32,625 111,395 Bonds and Notes 119 3 1 1,062 — 1,185 Total $ 13,716 $ 36,896 $ 28,087 $ 3,529 $ 32,625 $ 114,853

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
EMPLOYEE BENEFIT PLANS	Mar. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Pension Plans Holdings and Equitable Financial Retirement Plans Holdings sponsors the MONY Life Retirement Income Security Plan for Employees and Equitable Financial sponsors the Equitable Retirement Plan (the “Equitable Financial QP”), both of which are frozen qualified defined benefit plans covering eligible employees and financial professionals. These pension plans are non-contributory, and their benefits are generally based on a cash balance formula and/or, for certain participants, years of service and average earnings over a specified period. Holdings and Equitable Financial also sponsor certain nonqualified defined benefit plans, including the Equitable Excess Retirement Plan, that provide retirement benefits in excess of the amount permitted under the tax law for the qualified plans. Holdings has assumed primary liability for both plans. Equitable Financial remains secondarily liable for its obligations under the Equitable Financial QP and would recognize such liability in the event Holdings does not perform. AB Retirement Plans AB maintains a qualified, non-contributory, defined benefit retirement plan covering current and former employees who were employed by AB in the United States prior to October 2, 2000 (the “AB Plan”). Benefits under the AB Plan are based on years of credited service, average final base salary, and primary Social Security benefits. Service and compensation after December 31, 2008 are not taken into account in determining participants’ retirement benefits. Net Periodic Pension Expense Components of net periodic pension expense for the Company’s plans were as follows: Three Months Ended March 31, 2023 2022 (in millions) Service cost $ 2 $ 2 Interest cost 31 14 Expected return on assets (39) (39) Prior period service cost amortization (1) (1) Actuarial (gain) loss — — Net amortization 9 20 Impact of settlement — — Net Periodic Pension Expense $ 2 $ (4)

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three months ended March 31, 2023 and 2022 was computed using an estimated annual effective tax rate (“ETR”), with discrete items recognized in the period in which they occur. The estimated ETR is revised, as necessary, at the end of successive interim reporting periods. During the fourth quarter of 2022, the Company established a valuation allowance of $1.6 billion against its deferred tax asset related to unrealized capital losses in the available for sale securities portfolio. For the three months ended March 31, 2023, the Company recorded a decrease to the valuation allowance of $341 million due to a decrease in the portfolio’s unrealized capital loss. This adjustment was recorded in other comprehensive income. As of each reporting date, management considers new evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. During the three months ended March 31, 2023 the Company has taken steps to increase its available future liquidity by increasing borrowing capacity and amending certain counterparty agreements. While management has several actions that are pending, the Company now has the ability and intent to hold the underlying securities in its available for sale portfolio to recovery to the extent that half of the deferred tax asset would be realized. Based on all available evidence, as of March 31, 2023, the Company concluded that half of the deferred tax asset related to unrealized tax capital losses is more-likely-than-not to be realized and a full valuation allowance is not necessary. A valuation allowance of $614 million remains against the portion of the deferred tax asset that is still not more-likely-than-not to be realized. The partial release of the valuation allowance of $614 million was recorded in net income. The Company uses the aggregate portfolio approach related to the stranded or disproportionate income tax effects in accumulated other comprehensive income related to available for sale securities. Under this approach, the disproportionate tax effect remains intact as long as the investment portfolio remains.

EQUITY

EQUITY	3 Months Ended
EQUITY	Mar. 31, 2023
Equity [Abstract]
EQUITY	EQUITY Preferred Stock Preferred stock authorized, issued and outstanding was as follows: March 31, 2023 December 31, 2022 Series Shares Authorized Shares Shares Outstanding Shares Authorized Shares Shares Outstanding Series A 32,000 32,000 32,000 32,000 32,000 32,000 Series B 20,000 20,000 20,000 20,000 20,000 20,000 Series C 12,000 12,000 12,000 12,000 12,000 12,000 Total 64,000 64,000 64,000 64,000 64,000 64,000 Dividends declared per share were as follows for the periods indicated: Three Months Ended March 31, 2023 2022 Series A dividends declared $ 328 $ 328 Series B dividends declared $ — $ — Series C dividends declared $ 269 $ 269 Common Stock Dividends declared per share of common stock were as follows for the periods indicated: Three Months Ended March 31, 2023 2022 Dividends declared $ 0.20 $ 0.18 Share Repurchase On February 9, 2022, the Company’s Board of Directors authorized a new $1.2 billion share repurchase program. Under this program, the Company may, from time to time purchase shares of its common stock through various means. The Company may choose to suspend or discontinue the repurchase program at any time. The repurchase program does not obligate the Company to purchase any particular number of shares. On February 9, 2023, the Company’s Board of Directors authorized a new $700 million share repurchase program. Under this program, the Company may, from time to time, purchase shares of its common stock through various means. The Company may choose to suspend or discontinue the repurchase program at any time. The repurchase program does not obligate the Company to purchase any particular number of shares. As of March 31, 2023, Holdings had authorized capacity of approximately $870 million remaining in its share repurchase program. Holdings repurchased a total of 7.3 million and 8.6 million shares of its common stock at an average price of $29.16 and $31.96 through open market repurchases, ASRs and privately negotiated transactions during the three months ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2023 and 2022, Holdings repurchased 4.5 million and 7.9 million shares of its common stock through open market repurchases. In January 2023, Holdings entered into an ASR with a third-party financial institution to repurchase an aggregate of $75 million of Holdings’ common stock. Pursuant to the ASR, Holdings made a prepayment of $75 million and received initial delivery of 2 million Holdings’ shares. The ASR terminated in March 2023, at which time an additional 424,000 shares of common stock were received. Accumulated Other Comprehensive Income (Loss) AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of March 31, 2023 and December 31, 2022 follow: March 31, December 31, 2023 2022 (in millions) Unrealized gains (losses) on investments $ (7,917) $ (9,324) Market risk benefits - instrument-specific credit risk component 1,855 668 Liability for future policy benefits - current discount rate component 213 355 Defined benefit pension plans (629) (650) Foreign currency translation adjustments (85) (91) Total accumulated other comprehensive income (loss) (6,563) (9,042) Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest (47) (50) Accumulated other comprehensive income (loss) attributable to Holdings $ (6,516) $ (8,992) The components of OCI, net of taxes for the three months ended March 31, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 2022 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 1,571 $ (5,080) (Gains) losses reclassified into net income (loss) during the period (1) 63 264 Net unrealized gains (losses) on investments 1,634 (4,816) Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (8) 139 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $341 and $(1,244)) 1,626 (4,677) Change in LFPB discount rate and MRB credit risk, net of tax Market risk benefits - changes in instrument-specific credit risk (net of deferred income tax expense (benefit) of $249 and $418) 938 1,573 Liability for future policy benefits - changes in current discount rate (net of deferred income tax expense (benefit) of $(30) and $123) (112) 462 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (3) 20 43 Change in defined benefit plans (net of deferred income tax expense (benefit) of $(6) and $(9)) 20 43 Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period 6 (12) Foreign currency translation adjustment 6 (12) Total other comprehensive income (loss), net of income taxes 2,478 (2,611) Less: Other comprehensive income (loss) attributable to noncontrolling interest 2 (4) Other comprehensive income (loss) attributable to Holdings $ 2,476 $ (2,607) ______________ (1) See “reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(17) million and $(70) million for the three months ended March 31, 2023 and 2022, respectively. Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to net income (loss) as related to defined benefit plans

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	3 Months Ended
SHORT-TERM AND LONG-TERM DEBT	Mar. 31, 2023
Debt Disclosure [Abstract]
SHORT-TERM AND LONG-TERM DEBT	SHORT-TERM AND LONG-TERM DEBT On January 11, 2023, the Company issued $500 million aggregate principal amount of senior notes (the “Senior Notes”). These amounts were recorded net of the underwriting discount and issuance costs of $5 million. The Company will pay semiannual interest on the Senior Notes on January 11 and July 11 of each year, commencing on July 11, 2023, and the Senior Notes will mature on January 11, 2033. The Senior Notes bear interest at 5.594% per annum. On any date prior to October 11, 2032, the Company may redeem some or all of the Senior Notes, subject to a make-whole provision. At any time on or after October 11, 2032, the Company may, at its option, redeem the Notes in whole or in part, at a price equal to 100% of the principal amount of the Senior Notes being redeemed plus accrued and unpaid interest thereon to the redemption date. The Senior Notes contain customary affirmative and negative covenants, including a limitation on certain liens and a limit on the Company’s ability to consolidate, merge, sell or otherwise dispose of all or substantially all of its assets. The Senior Notes also include customary events of default (with customary grace periods, as applicable), including provisions under which, upon the occurrence of an event of default, all outstanding Senior Notes may be accelerated.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	3 Months Ended
REDEEMABLE NONCONTROLLING INTEREST	Mar. 31, 2023
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of the period $ 455 $ 468 Net earnings (loss) attributable to redeemable noncontrolling interests 12 (27) Purchase/change of redeemable noncontrolling interests 146 (55) Balance, end of the period $ 613 $ 386

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation and Regulatory Matters Litigation, regulatory and other loss contingencies arise in the ordinary course of 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. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates 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. Litigation against the Company includes a variety of claims including, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. 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 range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company 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, 2023, 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 $250 million. 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. In February 2016, a lawsuit was filed in the Southern District of New York entitled Brach Family Foundation, Inc. v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action brought on behalf of all owners of UL policies subject to Equitable Financial’s COI rate increase. In early 2016, Equitable Financial raised COI rates for certain UL policies issued between 2004 and 2008, which had both issue ages 70 and above and a current face value amount of $1 million and above. A second putative class action was filed in the District of Arizona in 2017 and consolidated with the Brach matter in federal court in New York. The consolidated amended class action complaint alleges the following claims: breach of contract; misrepresentations in violation of Section 4226 of the New York Insurance Law; violations of New York General Business Law Section 349; and violations of the California Unfair Competition Law, and the California Elder Abuse Statute. Plaintiffs seek: (a) compensatory damages, costs, and, pre- and post-judgment interest; (b) with respect to their claim concerning Section 4226, a penalty in the amount of premiums paid by the plaintiffs and the putative class; and (c) injunctive relief and attorneys’ fees in connection with their statutory claims. In August 2020, the federal district court issued a decision certifying nationwide breach of contract and Section 4226 classes, and a New York State Section 349 class. Owners of a substantial number of policies opted out of the Brach class action. Most opt-out policies are not yet the subject of litigation. Others filed suit previously including three federal actions that have been coordinated with the Brach action and contain similar allegations along with additional allegations for violations of state consumer protection statutes and common law fraud. In March 2022, the federal district court issued a summary judgment decision, denying in significant part but granting in part Equitable Financial’s motion and denying the motion filed by plaintiffs in the coordinated actions. In July 2022, the federal district court granted Equitable Financial’s motion to reconsider its summary judgment decision in part and granted summary judgment as to a portion of the Section 4226 class. The federal district court also agreed to consider whether it should decertify the Section 4226 class. In January 2023, the federal district court declined to decertify the class and instead modified it to replace certain class members. Beginning October 30, 2023, the federal district court will hold one consolidated trial for the Brach action and the three coordinated actions. Equitable Financial has commenced settlement discussions with the Brach class action plaintiffs and plaintiffs in the coordinated actions. No assurances can be given about the outcome of those settlement discussions. Equitable Financial has settled actual and threatened litigations challenging the COI increase by individual policy owners and one entity that invested in numerous policies purchased in the life settlement market. Two actions are also pending against Equitable Financial in New York state court. In July 2022, the trial court in one of the New York state court actions, Hobish v. AXA Equitable Life Insurance Company, granted in significant part Equitable Financial’s motion for summary judgment and denied plaintiff’s cross motion. That plaintiff filed a notice of appeal and Equitable filed a notice of cross-appeal. Equitable Financial is vigorously defending each of these matters. As with other financial services companies, Equitable Financial 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. It is the practice of the Company to cooperate fully in these matters. Obligations under Funding Agreements Pre-Capitalized Trust Securities (“P-Caps”) In April 2019, pursuant to separate Purchase Agreements among Holdings, Credit Suisse Securities (USA) LLC, as representative of the several initial purchasers, and the Trusts (as defined below), Pine Street Trust I, a Delaware statutory trust (the “2029 Trust”), completed the issuance and sale of 600,000 of its Pre-Capitalized Trust Securities redeemable February 15, 2029 (the “2029 P-Caps”) for an aggregate purchase price of $600 million and Pine Street Trust II, a Delaware statutory trust (the “2049 Trust” and, together with the 2029 Trust, the “Trusts”), completed the issuance and sale of 400,000 of its Pre-Capitalized Trust Securities redeemable February 15, 2049 (the “2049 P-Caps” and, together with the 2029 P-Caps, the “P-Caps”) for an aggregate purchase price of $400 million in each case to qualified institutional buyers in reliance on Rule 144A that are also “qualified purchasers” for purposes of Section 3(c)(7) of the Investment Company Act of 1940, as amended. The P-Caps are an off-balance sheet contingent funding arrangement that, upon Holdings’ election, gives Holdings the right over a ten-year period (in the case of the 2029 Trust) or over a thirty-year period (in the case of the 2049 Trust) to issue senior notes to these Trusts. The Trusts each invested the proceeds from the sale of their P-Caps in separate portfolios of principal and/or interest strips of U.S. Treasury securities. In return, Holdings will pay a semi-annual facility fee to the 2029 Trust and 2049 Trust calculated at a rate of 2.125% and 2.715% per annum, respectively, which will be applied to the unexercised portion of the contingent funding arrangement and Holdings will reimburse the Trusts for certain expenses. The facility fees are recorded in Other operating costs and expenses in the Consolidated Statements of Income (Loss). Federal Home Loan Bank (“FHLB”) As a member of the FHLB, Equitable Financial has access to collateralized borrowings. It also may issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require Equitable Financial to pledge qualified mortgage-backed assets and/or government securities as collateral. Equitable Financial issues short-term funding agreements to the FHLB and uses the funds for asset, liability, and cash management purposes. Equitable Financial issues long-term funding agreements to the FHLB and uses the funds for spread lending purposes. Entering into FHLB membership, borrowings and funding agreements requires the ownership of FHLB stock and the pledge of assets as collateral. Equitable Financial has purchased FHLB stock of $388 million and pledged collateral with a carrying value of $13.0 billion as of March 31, 2023. Funding agreements are reported in policyholders’ account balances in the consolidated balance sheets. For other instruments used for asset/liability and cash management purposes, see “Offsetting of Financial Assets and Liabilities and Derivative Instruments” included in Note 4 of the Notes to these Consolidated Financial Statements. The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Three Months Ended March 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at March 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 6,130 $ 14,066 $ (14,201) $ — $ — $ 5,995 Long-term funding agreements: Due in years two through five 1,679 — — — — 1,679 Due in more than five years 692 — — — — 692 Total long-term funding agreements 2,371 — — — — 2,371 Total funding agreements (1) $ 8,501 $ 14,066 $ (14,201) $ — $ — $ 8,366 _____________ (1) The $3 million and $4 million difference between the funding agreements carrying value shown in fair value table for March 31, 2023 and December 31, 2022, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Funding Agreement-Backed Notes Program (“FABN”) Under the FABN program, Equitable Financial may issue funding agreements in U.S. dollar or other foreign currencies to a Delaware special purpose statutory trust (the “Trust”) in exchange for the proceeds from issuances of fixed and floating rate medium-term marketable notes issued by the Trust from time to time (the “Trust Notes”). The funding agreements have matching interest, maturity and currency payment terms to the applicable Trust Notes. The Company hedges the foreign currency exposure of foreign currency denominated funding agreements using cross currency swaps as discussed in Note 4 of the Notes to these Consolidated Financial Statements. As of March 31, 2023, the maximum aggregate principal amount of Trust Notes permitted to be outstanding at any one time is $10.0 billion. Funding agreements issued to the Trust, including any foreign currency transaction adjustments, are reported in policyholders’ account balances in the consolidated balance sheets. Foreign currency transaction adjustments to policyholder’s account balances are recognized in net income (loss) as an adjustment to interest credited to policyholders’ account balances and are offset in interest credited to policyholders’ account balances by a release of AOCI from deferred changes in fair value of designated and qualifying cross currency swap cash flow hedges. The table below summarizes Equitable Financial’s activity of funding agreements under the FABN program. Change in FABN Funding Agreements during the Three Months Ended March 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at March 31, (in millions) Short-term funding agreements: Due in one year or less $ 1,500 $ — $ — $ — $ — $ — $ 1,500 Long-term funding agreements: Due in years two through five 4,000 300 — — 750 — 5,050 Due in more than five years 1,585 — — — (750) 7 842 Total long-term funding agreements 5,585 300 — — — 7 5,892 Total funding agreements (1) $ 7,085 $ 300 $ — $ — $ — $ 7 $ 7,392 _____________ (1) The $25 million and $66 million difference between the funding agreements notional value shown and carrying value table as of March 31, 2023 and December 31, 2022, respectively, reflects the remaining amortization of the issuance cost of the funding agreements and the foreign currency transaction adjustment. Credit Facilities For information regarding activity pertaining to our credit facilities arrangements, see Note 14 of the Notes to these Consolidated Financial Statements. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. As of March 31, 2023, these arrangements include commitments by the Company to provide equity financing of $1.3 billion to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company had $17 million of undrawn letters of credit related to reinsurance as of March 31, 2023. The Company had $764 million of commitments under existing mortgage loan agreements as of March 31, 2023. The Company is the obligor under certain structured settlement agreements it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, the Company owns single premium annuities issued by previously wholly-owned life insurance subsidiaries. The Company has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly-owned subsidiaries be unable to meet their obligations. Management believes the need for the Company to satisfy those obligations is remote.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	3 Months Ended
BUSINESS SEGMENT INFORMATION	Mar. 31, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION As previously announced, effective January 1, 2023, our financial reporting presentation was revised to reflect the reorganization of the Company’s reportable segments to reflect how the Company’s chief operating decision maker now makes operating decisions and assesses performance. We now have six reportable segments. Prior period results have been revised in connection with updates to our reportable segments. The six reportable segments are: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management and Legacy. These segments reflect the manner by which the Company’s chief operating decision maker views and manages the business. A brief description of these segments follows: • The Individual Retirement segment offers a diverse suite of variable annuity products which are primarily sold to affluent and high net worth individuals saving for retirement or seeking retirement income. • The Group Retirement segment offers tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities and not-for-profit entities, as well as small and medium-sized businesses. • The Investment Management and Research segment provides diversified investment management, research and related solutions globally to a broad range of clients through three main client channels - Institutional, Retail and Private Wealth - and distributes its institutional research products and solutions through Bernstein Research Services. • The Protection Solutions segment includes our life insurance and group employee benefits businesses. Our life insurance business offers a variety of VUL, UL and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners, with their wealth protection, wealth transfer and corporate needs. Our group employee benefits business offers a suite of dental, vision, life, and short- and long-term disability and other insurance products to small and medium-size businesses across the United States. • The Wealth Management segment offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products through Equitable Advisors. • The Legacy segment primarily consists of the capital intensive fixed-rate GMxB business written in the Individual Retirement market prior to 2011. This business offered GMDB features in isolation or together with GMLB features. This business also historically offered variable annuities with four types of guaranteed living benefit riders: GMIB, GWBL/GMWB, and GMAB. Measurement Operating earnings (loss) is the financial measure which primarily focuses on the Company’s segments’ results of operations as well as the underlying profitability of the Company’s core business. By excluding items that can be distortive and unpredictable such as investment gains (losses) and investment income (loss) from derivative instruments, the Company believes operating earnings (loss) by segment enhances the understanding of the Company’s underlying drivers of profitability and trends in the Company’s segments. Operating earnings is calculated by adjusting each segment’s net income (loss) attributable to Holdings for the following items: • Items related to variable annuity product features, which include: (i) changes in the fair value of market risk benefits and purchased market risk benefits, including the related attributed fees and claims, offset by derivatives and other securities used to hedge the market risk benefits which result in residual net income volatility as the change in fair value of certain securities is reflected in OCI and due to our statutory capital hedge program; and (ii) market adjustments to deposit asset or liability accounts arising from reinsurance agreements which do not expose the reinsurer to a reasonable possibility of a significant loss from insurance risk; • Investment (gains) losses, which includes credit loss impairments of securities/investments, sales or disposals of securities/investments, realized capital gains/losses and valuation allowances; • Net actuarial (gains) losses, which includes actuarial gains and losses as a result of differences between actual and expected experience on pension plan assets or projected benefit obligation during a given period related to pension, other postretirement benefit obligations, and the one-time impact of the settlement of the defined benefit obligation; • Other adjustments, which primarily include restructuring costs related to severance and separation, lease write-offs related to non-recurring restructuring activities, COVID-19 related impacts, net derivative gains (losses) on certain Non-GMxB derivatives, net investment income from certain items including consolidated VIE investments, seed capital mark-to-market adjustments, unrealized gain/losses and realized capital gains/losses from sales or disposals of select securities, certain legal accruals; and a bespoke deal to repurchase UL policies from one entity that had invested in numerous policies purchased in the life settlement market, which disposed of the risk of additional COI litigation by that entity related to those UL policies; and • Income tax expense (benefit) related to the above items and non-recurring tax items, which includes the effect of uncertain tax positions for a given audit period, and a decrease of a deferred tax valuation allowance. The General Account investment portfolio is used to support the insurance and annuity liabilities of our Individual Retirement, Group Retirement, Protection Solutions and Legacy business segments. In the first quarter 2022, the Company changed its methodology for allocating its General Account investment portfolio, which resulted in a change in the asset and net investment income allocation amongst the Company’s business segments. Following this change, the segmentation of the general account investments is now more closely aligned with the liability characteristics of the product groups. Management determined that the change in the allocation methodology allows for improved flexibility and infuses an active asset liability management practice into the segmentation process. Additionally, the Company also changed its basis for allocating the spread earned from our FHLB investment borrowing and FABN programs. The spread earned from our FHLB investment borrowing and FABN programs includes the investment income on the assets less interest credited on the funding agreements. The net spread as reflected in net investment income is allocated to the segments based on the percentage of the individual segment’s insurance liabilities over the combined segments insurance liabilities. This change in measurement only impacts our segment disclosures, and thus has no impact on our overall consolidated financial statements. Historical segment operating income (loss), revenues and assets have not been recast in the tables as the impact was immaterial. Revenues derived from any customer did not exceed 10% of revenues for the three months ended March 31, 2023 and 2022. The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices. The table below presents operating earnings (loss) by segment and Corporate and Other and a reconciliation to net income (loss) attributable to Holdings for the three months ended March 31, 2023 and 2022, respectively: Three Months Ended March 31, 2023 2022 (in millions) Net income (loss) attributable to Holdings $ 177 $ 530 Adjustments related to: Variable annuity product features 861 (616) Investment (gains) losses 87 326 Net actuarial (gains) losses related to pension and other postretirement benefit obligations 9 19 Other adjustments (1) 45 228 Income tax expense (benefit) related to above adjustments (210) 9 Non-recurring tax items (605) 3 Non-GAAP Operating Earnings $ 364 $ 499 Three Months Ended March 31, 2023 2022 (in millions) Operating earnings (loss) by segment: Individual Retirement $ 200 $ 203 Group Retirement $ 89 $ 144 Investment Management and Research $ 99 $ 136 Protection Solutions $ (35) $ (3) Wealth Management $ 32 $ 32 Legacy $ 60 $ 63 Corporate and Other (2) $ (81) $ (76) ______________ (1) Includes certain legal accruals related to the COI litigation of $59 million for the three months ended March 31, 2022 .Includes policyholder benefit costs of $75 million for the three months ended March 31, 2022 stemming from a deal to repurchase UL policies from one entity that had invested in numerous policies purchased in the life settlement market. (2) Includes interest expense and financing fees of $67 million and $53 million for the three months ended March 31, 2023 and 2022, respectively. Segment revenues is a measure of the Company’s revenue by segment as adjusted to exclude certain items. The following table reconciles segment revenues to total revenues by excluding the following items: • Items related to variable annuity product features, which include certain changes in the fair value of the derivatives and other securities we use to hedge these features and changes in the fair value of the embedded derivatives reflected within the net derivative results of variable annuity product features; • Investment (gains) losses, which includes credit loss impairments of securities/investments, sales or disposals of securities/investments, realized capital gains/losses and valuation allowances; • Other adjustments, which primarily includes net derivative gains (losses) on certain Non-GMxB derivatives and net investment income from certain items including consolidated VIE investments, seed capital mark-to-market adjustments and unrealized gain/losses associated with equity securities. The table below presents segment revenues for the three months ended March 31, 2023 and 2022. Three Months Ended March 31, 2023 2022 (in millions) Segment revenues: Individual Retirement (1) $ 588 $ 507 Group Retirement (1) 237 335 Investment Management and Research (2) 1,009 1,135 Protection Solutions (1) 767 809 Wealth Management (3) 362 376 Legacy (1) 206 215 Corporate and Other (1) 281 223 Eliminations (180) (199) Adjustments related to: Variable annuity product features (861) 616 Investment gains (losses), net (87) (326) Other adjustments to segment revenues 35 (545) Total revenues $ 2,357 $ 3,146 ______________ (1) Includes investment expenses charged by AB of $38 million and $27 million for the three months ended March 31, 2023 and 2022, respectively, for services provided to the Company. (2) Inter-segment investment management and other fees of $43 million and $33 million for the three months ended March 31, 2023 and 2022, respectively, are included in segment revenues of the Investment Management and Research segment. (3) Inter-segment distribution fees of $175 million and $193 million for the three months ended March 31, 2023 and 2022, respectively, are included in segment revenues of the Wealth Management segment. (4) Includes interest expense charged to AB of $9 million and $0 million for the three months ended March 31, 2023 and 2022, respectively. The table below presents total assets by segment as of March 31, 2023 and 2022: March 31, 2023 December 31, 2022 (in millions) Total assets by segment: Individual Retirement $ 77,922 $ 77,641 Group Retirement 44,171 42,421 Investment Management and Research 11,864 12,633 Protection Solutions 37,845 37,224 Wealth Management 174 137 Legacy 49,804 48,231 Corporate and Other 39,720 34,415 Total assets $ 261,500 $ 252,702

INSURANCE GROUP STATUTORY FINAN

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	3 Months Ended
INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	Mar. 31, 2023
Insurance [Abstract]
INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	INSURANCE GROUP STATUTORY FINANCIAL INFORMATION Prescribed and Permitted Accounting Practices As of March 31, 2023, the following three prescribed and permitted practices resulted in net income (loss) and capital and surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. Equitable Financial was granted a permitted practice by the NYDFS to apply SSAP 108, Derivatives Hedging Variable Annuity Guarantees on a retroactive basis from January 1, 2021 through June 30, 2021, after reflecting the impacts of our reinsurance transaction with Venerable. The permitted practice was amended to also permit Equitable Financial to adopt SSAP 108 prospectively as of July 1, 2021 and to consider the impact of both the interest rate derivatives and the General Account assets used to fully hedge the interest rate risk inherent in its variable annuity guarantees when determining the amount of the deferred asset or liability under SSAP 108. Application of the permitted practice partially mitigates the New York Insurance Regulation 213 (“Reg 213”) impact of the Venerable Transaction on Equitable Financial’s statutory capital and surplus and enables Equitable Financial to more effectively neutralize the impact of interest rates on its statutory surplus and to better align with our economic hedging program. The impact of applying this permitted practice relative to SSAP 108 as written was an increase of approximately $63 million in statutory special surplus funds and a decrease of $22 million in statutory net income for the three months ended March 31, 2023, which will be amortized over five years for each of the retrospective and prospective components. The permitted practice also reset Equitable Financial’s unassigned surplus to zero as of June 30, 2021 to reflect the transformative nature of the Venerable Transaction. The NAIC Accounting Practices and Procedures manual (“NAIC SAP”) has been adopted as a component of prescribed or permitted practices by the State of New York. However, Reg 213 adopted in May of 2019 and as amended in February 2020 and March 2021, differs from the NAIC variable annuity reserve and capital framework. Reg 213 requires Equitable Financial to carry statutory basis reserves for its variable annuity contract obligations equal to the greater of those required under (i) the NAIC standard or (ii) a revised version of the NYDFS requirement in effect prior to the adoption of the first amendment for contracts issued prior to January 1, 2020, and for policies issued after that date a new standard that in current market conditions imposes more conservative reserving requirements for variable annuity contracts than the NAIC standard. The impact of the application of Reg 213 was a decrease of approximately $2.2 billion in statutory surplus as of March 31, 2023 compared to statutory surplus under the NAIC variable annuity framework. Our hedging program is designed to hedge the economics of our insurance liabilities and largely offsets Reg 213 and NAIC framework reserve movements due to interest rates and equities. The NYDFS allows domestic insurance companies a five year phase-in provision for Reg 213 reserves. As of September 30, 2022, Equitable Financial’s Reg 213 reserves were 100% phased- in. As of March 31, 2023, given the prevailing market conditions and business mix, there are no Reg 213 redundant reserves over the US RBC CTE 98 total asset requirement (“TAR”). Finally, the continued application of Reg 213 resulted in a corresponding decrease of $0.3 billion in statutory net income for the three months ended March 31, 2023, which was largely offset by net income gains on our hedging program during the same period as noted. During the fourth quarter 2020, Equitable Financial received approval from NYDFS for its proposed amended Plan of Operation for Separate Account No. 68 (“SA 68”) for our Structured Capital Strategies product and Separate Account No. 69 (“SA 69”) for our EQUI-VEST product Structured Investment Option, to change the accounting basis of these two non-insulated Separate Accounts from fair value to book value in accordance with Section 1414 of the Insurance Law to align with how we manage and measure our overall general account asset portfolio. In order to facilitate this change and comply with Section 4240(a)(10), the Company also sought approval to amend the Plans to remove the requirement to comply with Section 4240(a)(5)(iii) and substitute it with a commitment to comply with Section 4240(a)(5)(i). Similarly, the Company updated the reserves section of each Plan to reflect the fact that Regulation 128 would no longer be applicable upon the change in accounting basis. We applied this change effective January 1, 2021. The impact of the application is an increase of approximately $2.0 billion in statutory surplus and a decrease in statutory net income for the three months ended March 31, 2023 of $157 million.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
EARNINGS PER COMMON SHARE	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table presents a reconciliation of Net income (loss) and Weighted-average common shares used in calculating basic and diluted Earnings per common share for the periods indicated: Three Months Ended March 31, 2023 2022 (in millions, except per share data) Weighted-average common shares outstanding: Weighted-average common shares outstanding — basic 361.9 388.6 Effect of dilutive potential common shares: Employee share awards (1) 2.2 3.1 Weighted-average common shares outstanding — diluted 364.1 391.7 Net income (loss): Net income (loss) $ 266 $ 597 Less: Net income (loss) attributable to the noncontrolling interest 89 67 Net income (loss) attributable to Holdings 177 530 Less: Preferred stock dividends 14 14 Net income (loss) available to Holdings’ common shareholders $ 163 $ 516 Earnings per common share: Basic $ 0.45 $ 1.33 Diluted $ 0.45 $ 1.32 _____________ (1) Calculated using the treasury stock method. For the three months ended March 31, 2023 and 2022, 2.5 million and 3.3 million of outstanding stock awards, respectively, were not included in the computation of diluted earnings per share because their effect was anti-dilutive.

HELD-FOR-SALE

HELD-FOR-SALE	3 Months Ended
HELD-FOR-SALE	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
HELD-FOR-SALE	HELD-FOR-SALEAssets and liabilities related to the business classified as HFS are separately reported in the Consolidated Balance Sheets beginning in the period in which the business is classified as HFS. AB Bernstein Research Services On November 22, 2022, AB and Société Générale, a leading European bank, announced plans to form a joint venture combining their respective cash equities and research businesses. The consummation of the joint venture is subject to customary closing conditions, including regulatory clearances. The closing is expected to occur before the end of 2023. Upon closing, AB will own a 49% interest in the joint venture and Société Générale will own a 51% interest in the joint venture, with an option to reach 100% ownership after five years. The assets and liabilities of AB's research services business recorded at fair value, less cost to sell have been classified as held-for-sale in our Consolidated Financial Statements. As a result of classifying these assets as held-for-sale, AB recognized a non-cash valuation adjustment of $3 million and $7 million on the consolidated statement of income, to recognize the net carrying value at lower of cost or fair value, less costs to sell for the three months ended as of March 31, 2023 and as of December 31, 2022, respectively . The following table summarizes the assets and liabilities classified as held-for-sale as of March 31, 2023 and December 31, 2022 on the Company’s consolidated balance sheet: March 31, 2023 (1) December 31, 2022 (1) (in millions) Cash and cash equivalents $ 154 $ 159 Broker-dealer related receivables 94 74 Trading securities, at fair value 16 25 Goodwill and other intangible assets ,net 165 175 Other assets (2) 242 129 Total assets held-for-sale $ 671 $ 562 Broker-dealer related payables $ 43 $ 33 Customers related payables 32 10 Other liabilities 83 65 Total liabilities held-for-sale $ 158 $ 108 ____________ (1) The assets and liabilities classified as held-for-sale are reported within our Investment Management & Research segment. (2) Other assets includes a valuation adjustment of $(10) million and $(7) million, as of March 31, 2023 and December 31, 2022, respectively.

REINSURANCE

REINSURANCE	3 Months Ended
REINSURANCE	Mar. 31, 2023
Reinsurance Disclosures [Abstract]
REINSURANCE	REINSURANCE The Company assumes and cedes reinsurance with other insurance companies. The Company evaluates the financial condition of its reinsurers to minimize its exposure to significant losses from reinsurer insolvencies. Ceded reinsurance does not relieve the originating insurer of liability. The following table summarizes the effect of reinsurance. The impact of the transactions described above results in a decrease to reinsurance assumed and an increase in reinsurance ceded. Three Months Ended March 31, 2023 2022 (in millions) Direct premiums $ 290 $ 250 Reinsurance assumed 52 50 Reinsurance ceded (66) (53) Premiums $ 276 $ 247 Direct charges and fee income $ 777 $ 834 Reinsurance ceded (189) (184) Policy charges and fee income $ 588 $ 650 Direct policyholders’ benefits $ 859 $ 917 Reinsurance assumed 36 55 Reinsurance ceded (165) (170) Policyholders’ benefits $ 730 $ 802 Direct interest credited to policyholders’ account balances $ 464 $ 338 Reinsurance ceded (1) (25) Interest credited to policyholders’ account balances $ 463 $ 313 Ceded Reinsurance The Company reinsures most of its new variable life, UL and term life policies on an excess of retention basis. The Company generally retains on a per life basis up to $25 million for single lives and $30 million for joint lives with the excess 100% reinsured. The Company also reinsures risk on certain substandard underwriting risks and in certain other cases. On October 3, 2022, as part of the Global Atlantic Transaction, Equitable Financial ceded to First Allmerica Financial Life Insurance Company on a combined coinsurance and modified coinsurance basis, a 50% quota share of approximately 360,000 legacy Group EQUI-VEST deferred variable annuity contracts issued by Equitable Financial between 1980 and 2008. In addition to the above, the Company cedes a portion of its group health, extended term insurance, and paid-up life insurance and substantially all of its individual disability income business through various coinsurance agreements. Assumed Reinsurance In addition to the sale of insurance products, the Company currently assumes risk from professional reinsurers. The Company also had a run-off portfolio of assumed reinsurance liabilities at CSLRC which was sold to Venerable in June 2021. The Company assumes accident, life, health, annuity (including products covering GMDB and GMIB benefits), aviation, special risk and space risks by participating in or reinsuring various reinsurance pools and arrangements. The following table summarizes the ceded reinsurance GMIB reinsurance contracts, third-party recoverables, amount due to reinsurance and assumed reserves. March 31, 2023 December 31, 2022 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 10,676 $ 10,423 Third-party reinsurance recoverables related to insurance contracts 8,453 8,471 Top reinsurers: First Allmerica-GAF 3,933 4,005 Zurich Life Insurance Company, Ltd. 1,401 1,416 RGA Reinsurance Company 1,301 1,272 Ceded group health reserves 48 47 Amount due to reinsurers 1,428 1,533 Top reinsurers: RGA Reinsurance Company 1,175 1,171 First Allmerica-GAF 71 147 Protective Life Insurance Company 103 104 Assumed Reinsurance: Reinsurance assumed reserves $ 694 $ 701

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Accelerated Share Repurchase Agreement In April 2023, Holdings entered into an ASR with a third-party financial institution to repurchase an aggregate of $75 million of Holdings’ common stock. Pursuant to the ASR, Holdings made a prepayment of $75 million and received initial delivery of 2.4 million Holdings’ shares. The ASR terminated in May 2023, at which time an additional 598,000 shares of common stock were received. Holdings Senior Notes Repayment On April 20, 2018, Holdings issued $800 million aggregate principal amount of 3.9% Senior Notes due 2023. During 2021 Holdings made a principal prepayment of $280 million on the 3.9% Senior Notes. The remaining balance was paid in full on the due date of April 20, 2023.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Certain prior period amounts were adjusted to reflect the adoption of ASU 2018-12: Financial Services - Insurance (Topic 944). The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “first quarter 2023” and “first quarter 2022” refer to the three months ended March 31, 2023 and 2022, respectively. The terms “first three months of 2023” and “first three months of 2022” refer to the three months ended March 31, 2023 and 2022, respectively.
DAC	DAC Acquisition costs that vary with and are primarily related to the acquisition of new and renewal insurance business, reflecting incremental direct costs of contract acquisition with independent third parties or employees that are essential to the contract transaction, as well as the portion of employee compensation, including employee fringe benefits and other costs directly related to underwriting, policy issuance and processing, medical inspection, and contract selling for successfully negotiated contracts including commissions, underwriting, agency and policy issue expenses, are deferred. Contracts are measured on a grouped basis utilizing cohorts consistent with those used in the calculation of future policy benefit reserves. DAC is amortized on a constant level basis for the grouped contracts over the expected term of the contract. For life insurance products, DAC is amortized in proportion to the face amount in force. For annuity products, DAC is amortized in proportion to policy counts. The constant level basis used for amortization determines the current period amortization considering both the current period’s actual experience and future projections. The amortization pattern is revised quarterly on a prospective basis. Amortization of DAC is included in Amortization of DAC, part of total benefits and other deductions.
Amount due to and from Reinsurers	Amount due to and from Reinsurers For each of its reinsurance agreements, the Company determines whether the agreement provides indemnification against loss or liability relating to insurance risk in accordance with applicable accounting standards. Cessions under reinsurance agreements do not discharge the Company’s obligations as the primary insurer. The Company reviews all contractual features, including those that may limit the amount of insurance risk to which the reinsurer is subject or features that delay the timely reimbursement of claims. For reinsurance of existing in-force blocks of long-duration contracts that transfer significant insurance risk, the difference, if any, between the amounts paid (received), and the liabilities ceded (assumed) related to the underlying contracts is considered the net cost of reinsurance at the inception of the reinsurance agreement. Subsequent amounts paid (received) on the reinsurance of in-force blocks, as well as amounts paid (received) related to new business, are recorded as premiums ceded (assumed); and amounts due from reinsurers (amounts due to reinsurers) are established. Assets and liabilities relating to reinsurance agreements with the same reinsurer may be recorded net on the balance sheet if a right of offset exists within the reinsurance agreement. In the event that reinsurers do not meet their obligations to the Company under the terms of the reinsurance agreements, reinsurance recoverable balances could become uncollectible. In such instances, reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance. Premiums, policy charges and fee income, and policyholders’ benefits include amounts assumed under reinsurance agreements and are net of reinsurance ceded. Amounts received from reinsurers for policy administration are reported in other revenues. For reinsurance contracts, reinsurance recoverable balances are generally calculated using methodologies and assumptions that are consistent with those used to calculate the direct liabilities. Ceded reinsurance transactions are recognized and measured in a manner consistent with underlying reinsured contracts, including using consistent assumptions. Assumed and ceded reinsurance contract rights and obligations are accounted for on a basis consistent with our direct contract. The reinsurance cost or benefit for traditional life non-participating and limited-payment contracts is recognized in proportion to the gross premiums of the underlying direct cohorts. The locked-in single A discount rate used to calculate the reinsurance cost or benefit is established at inception of the reinsurance contract. Changes to the single A discount rate are reflected in comprehensive income at each reporting date. 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. Deposits received are included in other liabilities and deposits made are included within other assets. As amounts are paid or received, consistent with the underlying contracts, the deposit assets or liabilities are adjusted. Interest on such deposits is recorded as other income or other operating costs and expenses, as appropriate.
Sales Inducement Asset	Sales Inducement Assets Sales inducement assets are offered on certain deferred annuity products in the form of either immediate bonus interest credited or enhanced interest crediting rates for a period of time. The interest crediting expense associated with these sales inducement assets is deferred and amortized over the lives of the underlying contracts in a manner consistent with the amortization of DAC. Unamortized balances are included in other assets in the consolidated balance sheets and amortization is included in interest credited to policyholders’ account balances in the consolidated statements of income (loss).
Policyholders’ Account Balances and Future Policy Benefits and Other Policyholders’ Liabilities	Policyholders’ Account Balances Policyholders’ account balances relate to contracts or contract features where the Company has no significant insurance risk. This liability represents the contract value that has accrued to the benefit of the policyholder as of the balance sheet date. Obligations arising from funding agreements are also reported in policyholders’ account balances in the consolidated balance sheets. As a member of the FHLB, the Company has access to collateralized borrowings. The Company may also issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require the Company to pledge qualified mortgage-backed assets and/or government securities as collateral. Future Policy Benefits and Other Policyholders’ Liabilities The liability for future policy benefits is estimated based upon the present value of future policy benefits and related claim expenses less the present value of estimated future net premiums where net premium equals gross premium under the contract multiplied by the net premium ratio. Related claim expenses include termination and settlement costs and exclude acquisition costs and non-claim related costs. The liability is estimated using current assumptions that include discount rate, mortality, lapses and expenses. Assumptions are based on judgments that consider the Company’s historical experience, industry data, and other factors. For participating traditional life insurance policies, future policy benefit liabilities are calculated using a net level premium method based on guaranteed mortality and dividend fund interest rates. The liability for annual dividends represents the accrual of annual dividends earned. Terminal dividends are accrued in proportion to face amount over the life of the contract. For non-participating traditional life insurance policies (Term) and limited pay contracts (Payout, Pension), contracts are grouped into cohorts by contract type and issue year. The Company quarterly updates its estimate of cash flows using actual experience and current future cash flow assumptions, which is reflected in an updated net premium ratio used to calculate the liability. The ratio of actual and future expected claims to actual and future expected premiums determines the net premium ratio. The policy administration expense assumption is not updated after policy issuance. If actual expenses differ from the original expense assumptions, the differences are recognized in the period identified. The revised net premium ratio is used to determine the updated liability for future policy benefits as of the beginning of the reporting period, discounted at the original contract issuance rate. Changes in the liability due to current discount rates differing from original rates are included in other comprehensive income within the consolidated statement of comprehensive income. For non-participating traditional life insurance policies and limited pay contracts, the discount rate assumption used is corporate A rated forward curve. We use a forward curve based upon a Bloomberg index. The liability is remeasured each quarter with the remeasurement change reported in other comprehensive income. The locked-in discount rate is generally based on expected investment returns at contract inception for contracts issued prior to January 1, 2021 and the upper medium grade fixed income corporate instrument yield (i.e., single A) at contract inception for contracts issued after January 1, 2021. The Company developed an LDTI discount rate methodology used to calculate the LFPB for its traditional insurance liabilities and constructed a discount rate curve that references upper-medium grade (low credit risk) fixed-income instrument yields (i.e. Single-A rated Corporate bond yields) which are meant to reflect the duration characteristics of the corresponding insurance liabilities. The methodology uses observable market data, where available, and uses various estimation techniques in line with fair value guidance (such as interpolation and extrapolation) where data is limited. Discount rates are updated quarterly. For limited-payment products, gross premiums received in excess of net premiums are deferred at initial recognition as a deferred profit liability (“DPL”). DPL will be amortized in relation to the expected future benefit payments. As the calculation of the DPL is based on discounted cash flows, interest accrues on the unamortized DPL balance using the discount rate determined at contract issuance. The DPL is updated at the same time as the estimates for cash flows for the liability for future policy benefits. Any difference between the recalculated and beginning of period DPL is recognized in remeasurement gain or loss in the consolidated statements of income (loss), Remeasurement of Liability for Future Policy Benefits, part of total benefits and other deductions. On the consolidated balance sheets the DPL is recorded in the liability for future policy benefits. Additional liabilities for contract or contract feature that provide for additional benefits in addition to the account balance but are not market risk benefits or embedded derivatives (“additional insurance liabilities”) are established by estimating the expected value of death or other insurance benefits in excess of the projected contract accumulation value and recognizing the excess over the estimated life based on expected assessments (i.e., benefit ratio). The liability equals the current benefit ratio multiplied by cumulative assessments recognized to date, plus interest, less cumulative excess payments to date. These reserves are recorded within future policy benefits and other policyholders’ liabilities. The determination of this estimated future policy benefits liability is based on models that involve numerous assumptions and subjective judgments, including those regarding expected market rates of return and volatility, contract surrender and withdrawal rates, and mortality experience. There can be no assurance that actual experience will be consistent with management’s estimates. Assumptions are reviewed annually and updated with the remeasurement gain or loss reflected in total benefit expense. The Company recognizes an adjustment in other comprehensive income for the additional insurance liabilities for unrealized gains and losses not included when calculating the present value of expected assessments for the benefit ratios. The Company conducts annual premium deficiency testing except for liability for future policy benefits for non- participating traditional and limited payment contracts. The Company reviews assumptions and determines whether the sum of existing liabilities and the present value of future gross premiums is sufficient to cover the present value of future benefits to be paid and settlement costs. Anticipated investment income is considered when performing premium deficiency for long duration contracts. The anticipated investment income is projected based on current investment portfolio returns grading to long term reinvestment rates over the projection periods, based on anticipated gross reinvestment spreads, defaults and investment expenses. Premium deficiency reserves are recorded in certain instances where the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years. This pattern of profits followed by losses is exhibited in our VISL business and is generated by the cost structure of the product or secondary guarantees in the contract. The secondary guarantee ensures that, subject to specified conditions, the policy will not terminate and will continue to provide a death benefit even if there is insufficient policy value to cover the monthly deductions and charges. We accrue for these PFBL using a dynamic approach that changes over time as the projection of future losses change. Market Risk Benefits Market risk benefits (“MRBs”) are contracts or contract features that provide protection to the contract holder from other than nominal capital market risk and expose the Company to other than nominal capital market risk. Market risk benefits include contract features that provide minimum guarantees to policyholders and include GMIB, GMDB, GMWB, GMAB, and ROP DB benefits. MRBs are measured at fair value on a seriatim basis using an ascribed fee approach based upon policyholder behavior projections and risk neutral economic scenarios adjusted based on the facts and circumstances of the Company’s product features. The MRB Asset and MRB Liability will be equal to the average present value of benefits and risk margins less the average present value of ascribed fees. Ascribed fees will consist of the fee needed, under a stochastically generated set of risk-neutral scenarios, so that the mean present value of claims, including any risk charge, is equal to the mean present value of the projected attributed fees which will be capped at average present value of total policyholder contractual fees. The attributed fee percentage is considered a fixed term of the MRB feature and is held static over the life of the contract. Changes in fair value are recognized as a remeasurement gain/loss in the Change in market risk benefits and purchased market risk benefits, part of total benefits and other deductions except for the portion of the change in the fair value due to change in the Company’s own credit risk, which is recognized in other than comprehensive income. Additionally, when an annuitization occurs (for annuitization benefits) or upon extinguishment of the account balance (for withdrawal benefits) the balance related to the MRB will be derecognized and the amount deducted (after derecognition of any related amount included in accumulated other comprehensive income) shall be used in the calculation of the liability for future policy benefits for the payout annuity. Upon derecognition, any related balance will be removed from AOCI. The Company has issued and continues to offer certain variable annuity products with GMDB and/or contain a GMLB (collectively, the “GMxB features”) which, if elected by the policyholder after a stipulated waiting period from contract issuance, guarantees a minimum lifetime annuity based on predetermined annuity purchase rates that may be in excess of what the contract account value can purchase at then-current annuity purchase rates. This minimum lifetime annuity is based on predetermined annuity purchase rates applied to a GMIB base. The Company previously issued certain variable annuity products with GMIB, GWBL, GMWB, and GMAB features. The Company has also assumed reinsurance for products with GMxB features. Features in ceded reinsurance contracts that meet the definition of MRBs are accounted for at fair value as a purchased MRB. The fees used to determine the fair value of the reinsured market risk benefit are those defined in the reinsurance contract. The expected periodic future premiums would represent cash outflows and the expected future benefits would represent cash inflows in the fair value calculation. On the ceded side, the Purchased MRB will be measured considering the counterparty credit risk of the reinsurer, while the direct contract liabilities will be measured considering the instrument-specific credit risk of the insurer. As a result of the difference in the treatment of the counterparty credit risk, the fair value of the direct and ceded contracts may be different even if the contractual fees and benefits are the same. Changes in instrument-specific credit risk of the Company is included in the fair value of its market risk benefit, whether in an asset or liability position, and whether related to an issued or purchased MRB, is recognized in OCI. The counterparty credit risk of the reinsurer is recorded in the consolidated statements of income (loss) .
Troubled Debt Restructuring	Troubled Debt Restructuring The Company invests in commercial and agricultural mortgage loans included in the balance sheet as mortgage loans on real estate. Under certain circumstances, modifications are granted to these contracts. Each modification is evaluated as to whether a TDR has occurred. A modification is a TDR when the borrower is in financial difficulty. The types of modifications made may include reducing the face amount or maturity amount of the debt as originally stated, reducing the contractual interest rate, extending the maturity date at an interest rate lower than current market interest rates and/or reducing accrued interest. The credit allowance is an estimate of lifetime expected losses reflecting historical loss information which included losses from modification to a borrower experiencing financial difficulty. As the effect of the modification made to a borrower experiencing financial difficulty is already included in the credit allowance, the carrying value (net of the allowance) before and after modification through a TDR may not change significantly, or may increase if the expected recovery is higher than the pre-modification recovery assessment. For information pertaining to our TDRs see Note 3 of the Notes to these Consolidated Financial Statements.
Accounting and Consolidation of VIEs	Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs Consolidated CLOs The Company is the investment manager of certain asset-backed investment vehicles, commonly referred to as CLOs, and certain other vehicles for which the Company earns fee income for investment management services. The Company may sell or syndicate investments through these vehicles, principally as part of the strategic investing activity as part of its investment management businesses. Additionally, the Company may invest in securities issued by these vehicles which are eliminated in consolidation of the CLOs. As of March 31, 2023 and December 31, 2022, respectively, Equitable Financial holds $89 million and $85 million of equity interests in the CLOs. The Company consolidated the CLOs as of March 31, 2023 and December 31, 2022 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the CLOs loan manager. The assets of the CLOs are legally isolated from the Company’s creditors and can only be used to settle obligations of the CLOs. The liabilities of the CLOs are non-recourse to the Company and the Company has no obligation to satisfy the liabilities of the CLOs. As of March 31, 2023, Equitable Financial holds $88 million of equity interests in a SPE established to purchase loans from the market in anticipation of a new CLO transaction. The Company consolidated the SPE as of March 31, 2023 as it is the primary beneficiary due to the combination of both its equity interest held by Equitable Financial and the majority ownership of AB, which functions as the SPE loan manager. Resulting from this consolidation in the Company’s consolidated balance sheets are fixed maturities, at fair value using the fair value option with total assets of $1.5 billion and $1.5 billion notes issued by consolidated variable interest entities, at fair value using the fair value option with total liabilities of $1.2 billion and $1.2 billion at March 31, 2023 and December 31, 2022, respectively . The unpaid outstanding principal balance of the notes and short-term borrowing is $1.4 billion and $1.4 billion at March 31, 2023 and December 31, 2022. Consolidated Limited Partnerships and LLCs As of March 31, 2023 and December 31, 2022 the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIE model. Included in Other invested assets, Mortgage loans on real estate, Other equity investments, Trading securities, cash and other liabilities in the Company’s consolidated balance sheets at March 31, 2023 and December 31, 2022 are total net assets of $925 million and $644 million, respectively related to these VIEs. Consolidated AB-Sponsored Investment Funds Included in the Company’s consolidated balance sheet as of March 31, 2023 and December 31, 2022 are assets of $578 million and $581 million, liabilities of $44 million and $56 million, and redeemable noncontrolling interests of $375 million and $369 million , respectively, associated with the consolidation of AB-sponsored investment funds . Also included in the Company’s consolidated balance sheets as of March 31, 2023 and December 31, 2022 are assets of $17 million and $0 million, liabilities of $0 million and $0 million, and redeemable noncontrolling interests of $2 million and $0 million, respectively, from consolidation of AB-sponsored investment funds under the VOE model. Non-Consolidated VIEs As of March 31, 2023 and December 31, 2022 respectively, the Company held approximately $2.4 billion and $2.4 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including CLOs, hedge funds, private equity funds and real estate-related funds. The Company continues to reflect these equity interests in the consolidated balance sheets as other equity investments and applies the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $257.1 billion and $282.5 billion as of March 31, 2023 and December 31, 2022 respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $2.4 billion and $2.4 billion and approximately $1.3 billion and $1.3 billion of unfunded commitments as of March 31, 2023 and December 31, 2022, respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. Non-Consolidated AB-Sponsored Investment Products As of March 31, 2023 and December 31, 2022, the net assets of investment products sponsored by AB that are non-consolidated VIEs are approximately $49.0 billion and $46.4 billion, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is its investment of $9 million and $6 million as of March 31, 2023 and December 31, 2022. The Company has no further commitments to or economic interest in these VIEs.
Fair Value Disclosures	U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. For the period ended March 31, 2023, the Company recognized impairment adjustments and impairment losses, respectively, to adjust the carrying value of held-for-sale asset and liabilities to their fair value less cost to sell. The value is measured on a nonrecurring basis and categorized within Level 3 of the fair value hierarchy. The fair value was determined using a market approach, estimated based on the negotiated value of the asset and liabilities. See Note 20 of the Notes to these Consolidated Financial Statements for additional details of the Held-for-Sale assets and liabilities. As of December 31, 2022, no assets or liabilities were required to be measured at fair value on a non-recurring basis.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Tables)	Mar. 31, 2023
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Adoption of New Accounting Pronouncements Description Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944) This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. The ASU also prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts. 2. Measurement of Market Risk Benefits (“MRBs”). MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. On January 1, 2023, the Company adopted the new accounting standard ASU 2018-12 using the modified retrospective approach, except for MRBs which will use the full retrospective approach. Refer to “Transition impact of ASU 2018-12, Financial Services- Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts” section within this note for further details. The following table presents the effect of transition adjustment to total equity resulting from the adoption of ASU 2018-12 as of January 1, 2021: Retained Earnings Accumulated Other Comprehensive Income Total (in millions) Liability for future policy benefits $ 30 $ (1,343) $ (1,313) Market risk benefits (3,398) (902) (4,300) DAC — 1,548 1,548 Unearned revenue liability and sales inducement assets (1) — (166) (166) Total transition adjustment before taxes (3,368) (863) (4,231) Income taxes 707 181 888 Total transition adjustment (net of taxes) $ (2,661) $ (682) $ (3,343) _______________ (1) Unearned revenue liability Included within liability for future policy benefits financial statement line item in the Consolidated Balance Sheet. Sales inducement assets are included in other assets in the consolidated balance sheets.
Schedule of Balance of and Changes in Liability for Future Policy Benefits	The following table summarizes the balance of and changes in liability for future policy benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Protection Solutions Individual Corporate & Other Total Term Payout Group Health (in millions) Balance, December 31, 2020 $ 1,423 $ 3,047 $ 771 $ 2,100 $ 7,341 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — (171) (85) (100) (356) Effect of remeasurement of liability at current single A rate (1) 560 531 94 300 1,485 Balance, January 1, 2021 (1) 1,983 3,407 780 2,300 8,470 Less: Reinsurance Recoverable (59) — — (1,837) (1,896) Balance, January 1, 2021 (1), net of reinsurance $ 1,924 $ 3,407 $ 780 $ 463 $ 6,574 ________________ (1) LFPB transition table not inclusive of the following transition adjustments to AOCI including Protection Solutions PFBL of $550 million, PDR of $(230) million, Rider Reserves and Term Reinsurance of $(24) million and Corporate and Other of $(111) million.
Schedule of Market Risk Benefit, Activity	The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Individual Retirement Legacy Total GMxB Core GMxB Legacy Purchased MRB (in millions) Balance, December 31, 2020 $ 2,206 $ 19,891 $ (2,572) $ 19,525 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (4) (70) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date (1) 505 461 2 968 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (1) (563) 4,122 (194) 3,365 Balance, January 1, 2021 $ 2,144 $ 24,404 $ (2,764) $ 23,784 _____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including Individual Retirement EQUI-VEST of $43 million, SCS of $21 million, Protection Solutions of $(2) million and Group Retirement EQUI-VEST of $(20) million. March 31, 2023 March 31, 2022 Individual Retirement Legacy Individual Retirement Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy (in millions) Balance, beginning of the period (“BOP”) $ 530 $ 14,699 $ (10,415) $ 4,284 $ 1,061 $ 20,236 $ (14,059) $ 6,177 Balance BOP before changes in the instrument specific credit risk 529 15,314 (10,358) 4,956 666 19,719 (14,051) 5,668 Model changes and effect of changes in cash flow assumptions — — — — — (87) 29 (58) Actual market movement effect (211) (744) 387 (357) 328 1,098 (399) 699 Interest accrual 18 197 (153) 44 5 104 (61) 43 Attributed fees accrued (1) 95 209 (83) 126 92 219 (86) 133 Benefit payments (12) (342) 185 (157) (5) (251) 136 (115) Actual policyholder behavior different from expected behavior 7 21 (18) 3 1 33 (15) 18 Changes in future economic assumptions 125 944 (530) 414 (542) (2,934) 2,006 (928) Issuances (1) — — — (5) — — — Balance EOP before changes in the instrument-specific credit risk $ 550 $ 15,599 $ (10,570) $ 5,029 $ 540 $ 17,901 $ (12,441) $ 5,460 Changes in the instrument-specific credit risk (2) (233) (1,517) (99) (1,616) (42) (970) (66) (1,036) Balance, end of the period (“EOP”) $ 317 $ 14,082 $ (10,669) $ 3,413 $ 498 $ 16,931 $ (12,507) $ 4,424 Weighted-average age of policyholders (years) 63.7 72.8 67.7 N/A 62.8 72.2 67.1 N/A Net amount at risk $ 3,287 $ 21,472 $ 10,045 N/A $ 1,787 $ 17,987 $ 7,657 N/A _____________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk amounts in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Direct Asset Direct Liability Net Direct MRB Purchased MRB Total Direct Asset Direct Liability Net Direct MRB Purchased MRB Total (in millions) Legacy Segment GMxB Legacy $ (74) $ 14,156 $ 14,082 $ (10,669) $ 3,413 $ (51) $ 14,749 $ 14,699 $ (10,412) $ 4,287 Individual Retirement GMxB Core (498) 815 317 — 317 (387) 917 530 — 530 Other (1) (57) 90 33 (7) 26 (52) 100 47 (11) 36 Total $ (629) $ 15,061 $ 14,432 $ (10,676) $ 3,756 $ (490) $ 15,766 $ 15,276 $ (10,423) $ 4,853 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.
Schedule of Deferred Policy Acquisition Costs	The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Protection Solutions Legacy Individual Retirement Group Retirement Total Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 654 $ 1,635 $ 134 $ 95 $ 645 $ 553 $ 79 $ 4,198 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 177 714 162 13 11 20 (1) 210 81 22 1,409 Balance, January 1, 2021 (7) $ 403 $ 177 $ 714 $ 162 $ 667 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 5,607 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) "IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group (7) DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment. Changes in the DAC asset for the three months ended March 31, 2023 and 2022 were as follows: Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 362 $ 179 $ 889 $ 185 $ 1,625 $ 156 $ 148 $ 1,279 $ 593 $ 710 $ 89 $ 127 $ 6,342 Capitalization 4 1 35 3 19 3 11 101 6 16 3 — 202 Amortization (10) (3) (14) (3) (35) (3) (3) (47) (16) (10) (5) (3) (152) Balance, March 31, 2023 $ 356 $ 177 $ 910 $ 185 $ 1,609 $ 156 $ 156 $ 1,333 $ 583 $ 716 $ 87 $ 124 $ 6,392 ______________ (1) “CB” defined as Closed Block Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 385 $ 180 $ 799 $ 180 $ 1,653 $ 156 $ 121 $ 1,070 $ 631 $ 677 $ 94 $ 138 $ 6,084 Capitalization 4 3 36 4 31 3 10 88 8 18 4 — 209 Amortization (2) (10) (3) (12) (2) (33) (3) (4) (40) (16) (10) (5) (3) (141) Balance, March 31, 2022 $ 379 $ 180 $ 823 $ 182 $ 1,651 $ 156 $ 127 $ 1,118 $ 623 $ 685 $ 93 $ 135 $ 6,152 ______________ (1) “CB” defined as Closed Block. (2) DAC amortization of $2 million related to Other not reflected in table above. Changes in the Individual Retirement Sales Inducement Assets for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance beginning of the period $ 137 $ 200 $ 147 $ 222 Amortization (3) (5) (3) (6) Balance, end of the period $ 134 $ 195 $ 144 $ 216 Changes in the Protection Solution Unearned Revenue Liability for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 UL VUL IUL UL VUL IUL (in millions) Balance beginning of the period $ 95 $ 684 $ 157 $ 80 $ 619 $ 94 Capitalization 5 27 17 5 25 18 Amortization (2) (10) (3) (1) (10) (2) Balance, end of the period $ 98 $ 701 $ 171 $ 84 $ 634 $ 110
Schedule of Deferred Income	The following tables summarizes the balance of and changes in sales inducement assets and unearned revenue liability on January 1, 2021 resulting from the adoption of ASU 2018-12: Sales Inducement Assets Legacy Individual Retirement Total GMxB Legacy GMxB Core (in millions) Balance, December 31, 2020 $ 246 $ 158 $ 404 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — — — Balance, January 1, 2021 $ 246 $ 158 $ 404 Protection Solutions Total Unearned Revenue Liability UL VUL IUL Balance, December 31, 2020 $ 31 $ 438 $ 14 $ 483 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income 29 127 9 165 Balance, January 1, 2021 $ 60 $ 565 $ 23 $ 648

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
INVESTMENTS (Tables)	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Fixed Maturities by Classification	The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value (in millions) March 31, 2023 Fixed Maturities: Corporate (1) $ 51,030 $ 18 $ 167 $ 6,086 $ 45,093 U.S. Treasury, government and agency 6,991 — 3 925 6,069 States and political subdivisions 638 — 12 75 575 Foreign governments 1,028 — 3 133 898 Residential mortgage-backed (2) 930 — 1 84 847 Asset-backed (3) 8,548 — 9 315 8,242 Commercial mortgage-backed 3,856 — — 558 3,298 Redeemable preferred stock 40 — 3 — 43 Total at March 31, 2023 $ 73,061 $ 18 $ 198 $ 8,176 $ 65,065 December 31, 2022: Fixed Maturities: Corporate (1) $ 50,712 $ 24 $ 89 $ 7,206 $ 43,571 U.S. Treasury, government and agency 7,054 — 1 1,218 5,837 States and political subdivisions 609 — 7 89 527 Foreign governments 985 — 2 151 836 Residential mortgage-backed (2) 908 — 1 87 822 Asset-backed (3) 8,859 — 4 373 8,490 Commercial mortgage-backed 3,823 — — 588 3,235 Redeemable preferred stock 41 — 2 — 43 Total at December 31, 2022 $ 72,991 $ 24 $ 106 $ 9,712 $ 63,361 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types.
Schedule of Contractual Maturities of Available-for-Sale Fixed Maturities	The contractual maturities of AFS fixed maturities as of March 31, 2023 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) March 31, 2023 Contractual maturities: Due in one year or less $ 1,551 $ 1,533 Due in years two through five 15,798 15,107 Due in years six through ten 16,462 15,023 Due after ten years 25,858 20,972 Subtotal 59,669 52,635 Residential mortgage-backed 930 847 Asset-backed 8,548 8,242 Commercial mortgage-backed 3,856 3,298 Redeemable preferred stock 40 43 Total at March 31, 2023 $ 73,043 $ 65,065
Schedule of Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and allowance for credit losses for AFS fixed maturities. Proceeds from Sales, Gross Gains (Losses) from Sales and Allowance for Credit and Intent to Sell Losses for AFS Fixed Maturities Three Months Ended March 31, 2023 2022 (in millions) Proceeds from sales $ 825 $ 7,391 Gross gains on sales $ 2 $ 29 Gross losses on sales $ (26) $ (364) Net (increase) decrease in Allowance for Credit and Intent to Sell losses $ (56) $ 1
Debt Securities, Available-for-Sale, Allowance for Credit Loss	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit and Intent to Sell Loss Impairments Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of period $ 36 $ 44 Previously recognized impairments on securities that matured, paid, prepaid or sold (3) (2) Recognized impairments on securities impaired to fair value this period (1) (2) 52 — Credit losses recognized this period on securities for which credit losses were not previously recognized 3 — Additional credit losses this period on securities previously impaired 1 1 Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — Balance at March 31, $ 89 $ 43 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Schedule of Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities	The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2023 $ (9,606) $ 41 $ 440 $ (9,125) Net investment gains (losses) arising during the period 1,555 — — 1,555 Reclassification adjustment: Included in net income (loss) 80 — — 80 Other — — — — Impact of net unrealized investment gains (losses) — (8) (342) (350) Net unrealized investment gains (losses) excluding credit losses (7,971) 33 98 (7,840) Net unrealized investment gains (losses) with credit losses (7) — 1 (6) Balance, March 31, 2023 $ (7,978) $ 33 $ 99 $ (7,846) Balance, January 1, 2022 $ 4,809 $ (169) $ (974) $ 3,666 Net investment gains (losses) arising during the period (6,425) — — (6,425) Reclassification adjustment: Included in net income (loss) 334 — — 334 Other — — — — Impact of net unrealized investment gains (losses) — 173 1,242 1,415 Net unrealized investment gains (losses) excluding credit losses (1,282) 4 268 (1,010) Net unrealized investment gains (losses) with credit losses (5) — 1 (4) Balance, March 31, 2022 $ (1,287) $ 4 $ 269 $ (1,014)
Schedule of Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities	The following tables disclose the fair values and gross unrealized losses of the 4,949 issues as of March 31, 2023 and the 5,209 issues as of December 31, 2022 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated. AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) March 31, 2023 Fixed Maturities: Corporate $ 8,624 $ 401 $ 30,610 $ 5,683 $ 39,234 $ 6,084 U.S. Treasury, government and agency 3,271 277 2,584 648 5,855 925 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) States and political subdivisions 36 2 269 73 305 75 Foreign governments 106 6 645 127 751 133 Residential mortgage-backed 295 11 517 73 812 84 Asset-backed 1,458 36 5,933 279 7,391 315 Commercial mortgage-backed 425 30 2,805 528 3,230 558 Total at March 31, 2023 $ 14,215 $ 763 $ 43,363 $ 7,411 $ 57,578 $ 8,174 December 31, 2022: Fixed Maturities: Corporate $ 24,580 $ 2,668 $ 16,534 $ 4,536 $ 41,114 $ 7,204 U.S. Treasury, government and agency 5,564 1,200 204 18 5,768 1,218 States and political subdivisions 130 25 173 64 303 89 Foreign governments 349 42 417 109 766 151 Residential mortgage-backed 671 49 83 38 754 87 Asset-backed 6,298 230 1,765 143 8,063 373 Commercial mortgage-backed 1,577 201 1,640 387 3,217 588 Total at December 31, 2022 $ 39,169 $ 4,415 $ 20,816 $ 5,295 $ 59,985 $ 9,710
Schedule of Financing Receivable, Allowance for Credit Loss	The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 123 $ 57 Current-period provision for expected credit losses 10 (10) Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance 10 (10) Balance, end of period $ 133 $ 47 Agricultural mortgages: Balance, beginning of period $ 6 $ 5 Current-period provision for expected credit losses — 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance — 1 Balance, end of period $ 6 $ 6 Total allowance for credit losses $ 139 $ 53
Schedule of Financing Receivable Credit Quality Indicators	The following tables summarize the Company’s mortgage loans segregated by risk rating exposure as of March 31, 2023 and December 31, 2022. Loan to Value (“LTV”) Ratios (1) March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ 679 $ 130 $ — $ — $ 1,466 $ — $ — $ 2,275 March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 50% - 70% 237 2,230 1,568 906 312 2,911 268 94 8,526 70% - 90% 243 364 382 463 328 1,635 28 34 3,477 90% plus — — 33 — — 225 — — 258 Total commercial $ 480 $ 3,273 $ 2,113 $ 1,369 $ 640 $ 6,237 $ 296 $ 128 $ 14,536 Agricultural: 0% - 50% $ 10 $ 164 $ 182 $ 237 $ 128 $ 847 $ — $ — $ 1,568 50% - 70% 11 188 182 208 67 332 — — 988 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — Total agricultural $ 21 $ 352 $ 364 $ 445 $ 195 $ 1,195 $ — $ — $ 2,572 Total mortgage loans: 0% - 50% $ 10 $ 843 $ 312 $ 237 $ 128 $ 2,313 $ — $ — $ 3,843 50% - 70% 248 2,418 1,750 1,114 379 3,243 268 94 9,514 70% - 90% 243 364 382 463 328 1,651 28 34 3,493 90% plus — — 33 — — 225 — — 258 Total mortgage loans $ 501 $ 3,625 $ 2,477 $ 1,814 $ 835 $ 7,432 $ 296 $ 128 $ 17,108 Debt Service Coverage (“DSC”) Ratios (2 ) March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ — $ 783 $ 1,160 $ 1,113 $ 102 $ 2,634 $ — $ — $ 5,792 1.8x to 2.0x — 94 180 164 288 605 242 94 1,667 1.5x to 1.8x — 400 490 32 195 1,234 — — 2,351 1.2x to 1.5x 307 1,041 194 — — 854 — — 2,396 1.0x to 1.2x 166 496 41 60 55 840 54 34 1,746 Less than 1.0x 7 459 48 — — 70 — — 584 Total commercial $ 480 $ 3,273 $ 2,113 $ 1,369 $ 640 $ 6,237 $ 296 $ 128 $ 14,536 Agricultural: Greater than 2.0x $ 2 $ 51 $ 40 $ 61 $ 21 $ 189 $ — $ — $ 364 March 31, 2023 Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) 1.8x to 2.0x — 16 57 33 24 67 — — 197 1.5x to 1.8x 6 69 31 110 18 213 — — 447 1.2x to 1.5x 4 107 156 177 97 391 — — 932 1.0x to 1.2x 5 90 80 60 29 310 — — 574 Less than 1.0x 4 19 — 4 6 25 — — 58 Total agricultural $ 21 $ 352 $ 364 $ 445 $ 195 $ 1,195 $ — $ — $ 2,572 Total mortgage loans: Greater than 2.0x $ 2 $ 834 $ 1,200 $ 1,174 $ 123 $ 2,823 $ — $ — $ 6,156 1.8x to 2.0x — 110 237 197 312 672 242 94 1,864 1.5x to 1.8x 6 469 521 142 213 1,447 — — 2,798 1.2x to 1.5x 311 1,148 350 177 97 1,245 — — 3,328 1.0x to 1.2x 171 586 121 120 84 1,150 54 34 2,320 Less than 1.0x 11 478 48 4 6 95 — — 642 Total mortgage loans $ 501 $ 3,625 $ 2,477 $ 1,814 $ 835 $ 7,432 $ 296 $ 128 $ 17,108 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. LTV Ratios (1) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: 0% - 50% $ 624 $ 130 $ — $ — $ 119 $ 1,259 $ — $ — $ 2,132 50% - 70% 2,285 1,569 906 313 623 2,254 328 — 8,278 70% - 90% 363 415 463 329 424 1,314 — 34 3,342 90% plus — — — — 35 233 — — 268 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,060 $ 328 $ 34 $ 14,020 Agricultural: 0% - 50% $ 163 $ 182 $ 228 $ 129 $ 132 $ 725 $ — $ — $ 1,559 50% - 70% 190 185 222 68 83 267 — — 1,015 70% - 90% — — — — — 16 — — 16 90% plus — — — — — — — — — December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total mortgage loans: 0% - 50% $ 787 $ 312 $ 228 $ 129 $ 251 $ 1,984 $ — $ — $ 3,691 50% - 70% 2,475 1,754 1,128 381 706 2,521 328 — 9,293 70% - 90% 363 415 463 329 424 1,330 — 34 3,358 90% plus — — — — 35 233 — — 268 Total mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,068 $ 328 $ 34 $ 16,610 DSC Ratios (2) December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 771 $ 1,159 $ 1,113 $ 102 $ 571 $ 1,923 $ — $ — $ 5,639 1.8x to 2.0x 158 215 164 197 186 482 279 — 1,681 1.5x to 1.8x 337 390 32 153 176 1,175 4 — 2,267 1.2x to 1.5x 1,041 259 — 92 73 917 — — 2,382 1.0x to 1.2x 507 43 60 98 160 492 45 34 1,439 Less than 1.0x 458 48 — — 35 71 — — 612 Total commercial $ 3,272 $ 2,114 $ 1,369 $ 642 $ 1,201 $ 5,060 $ 328 $ 34 $ 14,020 December 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Loans Amortized Cost Basis Total (in millions) Agricultural: Greater than 2.0x $ 51 $ 40 $ 62 $ 21 $ 12 $ 193 $ — $ — $ 379 1.8x to 2.0x 16 58 35 24 14 51 — — 198 1.5x to 1.8x 69 42 111 18 19 196 — — 455 1.2x to 1.5x 107 147 177 98 99 298 — — 926 1.0x to 1.2x 91 80 61 30 60 257 — — 579 Less than 1.0x 19 — 4 6 11 13 — — 53 Total agricultural $ 353 $ 367 $ 450 $ 197 $ 215 $ 1,008 $ — $ — $ 2,590 Total mortgage loans: Greater than 2.0x $ 822 $ 1,199 $ 1,175 $ 123 $ 583 $ 2,116 $ — $ — $ 6,018 1.8x to 2.0x 174 273 199 221 200 533 279 — 1,879 1.5x to 1.8x 406 432 143 171 195 1,371 4 — 2,722 1.2x to 1.5x 1,148 406 177 190 172 1,215 — — 3,308 1.0x to 1.2x 598 123 121 128 220 749 45 34 2,018 Less than 1.0x 477 48 4 6 46 84 — — 665 Total mortgage loans $ 3,625 $ 2,481 $ 1,819 $ 839 $ 1,416 $ 6,068 $ 328 $ 34 $ 16,610 ______________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service.
Schedule of Age Analysis Of Past Due Mortgage Loans	The following table provides information relating to the aging analysis of past-due mortgage loans as of March 31, 2023 and December 31, 2022, respectively. Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) March 31, 2023: Mortgage loans: Commercial $ 62 $ — $ — $ 62 $ 14,383 $ 14,445 $ 91 $ 14,536 $ — $ 1 Agricultural 17 11 15 43 2,510 2,553 19 2,572 3 — Total $ 79 $ 11 $ 15 $ 105 $ 16,893 $ 16,998 $ 110 $ 17,108 $ 3 $ 1 Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) December 31, 2022: Mortgage loans: Commercial $ 56 $ — $ — $ 56 $ 13,964 $ 14,020 $ — $ 14,020 $ — $ — Agricultural 3 5 13 21 2,553 2,574 16 2,590 — — Total $ 59 $ 5 $ 13 $ 77 $ 16,517 $ 16,594 $ 16 $ 16,610 $ — $ — _______________
Schedule of Unrealized and Realized Gains (Losses) from Equity Securities and Net Investment Income (Loss) from Trading Securities and Net Investment Income (Loss) from Fixed Maturities, at Fair Value using the Fair Value Option	The table below presents a breakdown of unrealized and realized gains and (losses) on equity securities during the three months ended March 31, 2023 and 2022. Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (3) $ (40) Net investment gains (losses) recognized on securities sold during the period — (13) Unrealized and realized gains (losses) on equity securities $ (3) $ (53) Net Investment Income (Loss) from Trading Securities Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 35 $ (94) Net investment gains (losses) recognized on securities sold during the period (1) 2 Unrealized and realized gains (losses) on trading securities 34 (92) Interest and dividend income from trading securities 5 16 Net investment income (loss) from trading securities $ 39 $ (76) The table below shows a breakdown of net investment income (loss) from fixed maturities, at fair value using the fair value option during the three months ended March 31, 2023 and 2022. Net Investment Income (Loss) from Fixed Maturities, at Fair Value using the Fair Value Option Three Months Ended March 31, 2023 2022 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ 4 $ (5) Net investment gains (losses) recognized on securities sold during the period (2) 6 Unrealized and realized gains (losses) from fixed maturities 2 1 Interest and dividend income from fixed maturities 7 16 Net investment income (loss) from fixed maturities $ 9 $ 17

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
DERIVATIVES (Tables)	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments by Category	The following table presents the gross notional amount and estimated fair value of the Company’s derivatives: Derivative Instruments by Category March 31, 2023 December 31, 2022 Fair Value Fair Value Notional Amount Derivative Assets Derivative Liabilities Notional Amount Derivative Assets Derivative Liabilities (in millions) Derivatives: designated for hedge accounting (1) Cash flow hedges: Currency swaps $ 1,580 $ 98 $ 87 $ 1,431 $ 99 $ 85 Interest swaps 955 — 335 955 — 294 Total: designated for hedge accounting 2,535 98 422 2,386 99 379 Derivatives: not designated for hedge accounting (1) Equity contracts: Futures 5,515 — 5 5,151 2 — Swaps 12,281 58 9 11,188 39 9 Options 51,196 8,814 2,955 40,122 7,583 3,412 Interest rate contracts: Futures 12,191 — — 12,693 — — Swaps 1,980 17 92 1,515 — 166 Credit contracts: Credit default swaps 321 12 7 327 18 9 Currency contracts: Currency swaps 548 4 10 397 4 13 Currency forwards 37 14 15 62 31 32 Other freestanding contracts: Margin — 242 — — 226 — Collateral — 149 5,233 — 142 4,472 Total: not designated for hedge accounting 84,069 9,310 8,326 71,455 8,045 8,113 Embedded derivatives: SCS, SIO, MSO and IUL indexed features (2) — — 6,063 — — 4,164 Total embedded derivatives — — 6,063 — — 4,164 Total derivative instruments $ 86,604 $ 9,408 $ 14,811 $ 73,841 $ 8,144 $ 12,656 ___________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in policyholders’ account balances in the consolidated balance sheets. Derivative Instruments by Category Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Net Derivatives Gain (Losses) (1) Net Investment Income Interest Credited To Policyholders Account Balances AOCI Net Derivatives Gain (Losses) (1) Net Investment Income Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: designated for hedge accounting Cash flow hedges: Currency swaps $ 7 $ 3 $ (34) $ 25 $ (4) $ — $ (18) $ 13 Interest swaps (4) — — (28) (14) — — (20) Total: designated for hedge accounting 3 3 (34) (3) (18) — (18) (7) Derivatives: not Designated for hedge accounting Equity contracts: Futures (143) — — — 58 — — — Swaps (605) — — — 734 — — — Options 1,501 — — — (284) — — — Interest rate contracts: Futures (22) — — — (512) — — — Swaps 48 — — — (149) — — — Credit contracts: Credit default swaps (2) — — — 2 — — — Currency contracts: Currency swaps (10) — — — 5 — — — Currency forwards — — — — 1 — — — Other freestanding contracts: Margin — — — — — — — — Collateral — — — — — — — — Total: not designated for hedge accounting 767 — — — (145) — — — Embedded derivatives: SCS, SIO,MSO and IUL indexed features (1,611) — — — 322 — — — Total embedded derivatives (1,611) — — — 322 — — — Total derivative instruments $ (841) $ 3 $ (34) $ (3) $ 159 $ — $ (18) $ (7) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss).
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents a roll-forward of cash flow hedges recognized in AOCI. Roll-forward of Cash flow hedges in AOCI Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of period $ 22 $ (208) Amount recorded in AOCI Currency swaps (7) (3) Interest swaps (37) (39) Total amount recorded in AOCI (44) (42) Amount reclassified from AOCI to income Currency swaps (1) 32 16 Interest swaps (1) 9 19 Total amount reclassified from AOCI to income 41 35 Balance, end of period (2) $ 19 $ (215) _______________ (1) Currency swaps reclassified from AOCI to income are reported in net investment income in the consolidated statements of income (loss). Interest swaps reclassified from AOCI to income are reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) The Company does not estimate the amount of the deferred losses in AOCI at three months ended March 31, 2023 and 2022 which will be released and reclassified into Net income (loss) over the next 12 months as the amounts cannot be reasonably estimated.
Schedule of Offsetting Financial Assets and Liabilities and Derivative Instruments	The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments as of March 31, 2023 and December 31, 2022: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of March 31, 2023 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 9,408 $ 7,783 $ 1,625 $ (945) $ 680 Other financial assets 2,986 — 2,986 — 2,986 Other invested assets $ 12,394 $ 7,783 $ 4,611 $ (945) $ 3,666 Liabilities: Derivative liabilities (2) $ 7,802 $ 7,783 $ 19 $ — $ 19 Other financial liabilities 6,277 — 6,277 — 6,277 Other liabilities $ 14,079 $ 7,783 $ 6,296 $ — $ 6,296 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments/Collateral sent (held). As of December 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (3) Net Amount (in millions) Assets: Derivative assets (1) $ 8,143 $ 7,047 $ 1,096 $ (848) $ 248 Other financial assets 2,789 — 2,789 — 2,789 Other invested assets $ 10,932 $ 7,047 $ 3,885 $ (848) $ 3,037 Liabilities: Derivative liabilities (2) $ 7,645 $ 7,047 $ 598 $ — $ 598 Other financial liabilities 6,510 — 6,510 — 6,510 Other liabilities $ 14,155 $ 7,047 $ 7,108 $ — $ 7,108 ______________ (1) Excludes Investment Management and Research segment’s derivative assets of consolidated VIEs/VOEs. (2) Excludes Investment Management and Research segment’s derivative liabilities of consolidated VIEs/VOEs. (3) Financial instruments sent (held).

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	3 Months Ended
CLOSED BLOCK (Tables)	Mar. 31, 2023
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: March 31, 2023 December 31, 2022 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,626 $ 5,692 Policyholder dividend obligation — — Other liabilities 102 68 Total Closed Block liabilities 5,728 5,760 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $3,117 and $3,171) (allowance for credit losses of $0 and $0) 2,945 2,948 Mortgage loans on real estate (net of allowance for credit losses of $5 and $4) 1,647 1,645 Policy loans 561 569 Cash and other invested assets 2 — Other assets 201 187 Total assets designated to the Closed Block 5,356 5,349 Excess of Closed Block liabilities over assets designated to the Closed Block 372 411 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $47 (136) (177) Maximum future earnings to be recognized from Closed Block assets and liabilities $ 236 $ 234
Schedule of Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2023 2022 (in millions) Revenues: Premiums and other income $ 30 $ 33 Net investment income (loss) 51 58 Investment gains (losses), net — 1 Total revenues 81 92 Benefits and Other Deductions: Policyholders’ benefits and dividends 83 76 Other operating costs and expenses — — Total benefits and other deductions 83 76 Net income (loss), before income taxes (2) 16 Income tax (expense) benefit (1) (2) Net income (loss) $ (3) $ 14

DAC AND OTHER DEFERRED ASSETS_2

DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)	3 Months Ended
DAC AND OTHER DEFERRED ASSETS/LIABILITIES (Tables)	Mar. 31, 2023
Contract holder Bonus Interest Credits [Abstract]
Schedule of Deferred Policy Acquisition Costs	The following table summarizes the balance of and changes in DAC on January 1, 2021 resulting from the adoption of ASU 2018-12: Protection Solutions Legacy Individual Retirement Group Retirement Total Term UL (1) VUL (2) IUL (3) GMxB Legacy GMxB Core EI (4) IE (5) SCS EG (6) Momentum (in millions) Balance, December 31, 2020 $ 403 $ — $ — $ — $ 654 $ 1,635 $ 134 $ 95 $ 645 $ 553 $ 79 $ 4,198 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income — 177 714 162 13 11 20 (1) 210 81 22 1,409 Balance, January 1, 2021 (7) $ 403 $ 177 $ 714 $ 162 $ 667 $ 1,646 $ 154 $ 94 $ 855 $ 634 $ 101 $ 5,607 ______________ (1) “UL” defined as Universal Life (2) “VUL” defined as Variable Universal Life (3) "IUL” defined as Indexed Universal Life (4) “EI” defined as EQUI-VEST Individual (5) “IE” defined as Investment Edge (6) “EG” defined as EQUI-VEST Group (7) DAC transition table not inclusive of Closed Block of $136 million and Protection Solutions of $3 million transition adjustment. Changes in the DAC asset for the three months ended March 31, 2023 and 2022 were as follows: Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 362 $ 179 $ 889 $ 185 $ 1,625 $ 156 $ 148 $ 1,279 $ 593 $ 710 $ 89 $ 127 $ 6,342 Capitalization 4 1 35 3 19 3 11 101 6 16 3 — 202 Amortization (10) (3) (14) (3) (35) (3) (3) (47) (16) (10) (5) (3) (152) Balance, March 31, 2023 $ 356 $ 177 $ 910 $ 185 $ 1,609 $ 156 $ 156 $ 1,333 $ 583 $ 716 $ 87 $ 124 $ 6,392 ______________ (1) “CB” defined as Closed Block Protection Solutions Individual Retirement Legacy Group Retirement Corporate and Other Total Term UL VUL IUL GMxB Core EI IE SCS GMxB Legacy EG Momentum CB (in millions) Balance beginning of the period $ 385 $ 180 $ 799 $ 180 $ 1,653 $ 156 $ 121 $ 1,070 $ 631 $ 677 $ 94 $ 138 $ 6,084 Capitalization 4 3 36 4 31 3 10 88 8 18 4 — 209 Amortization (2) (10) (3) (12) (2) (33) (3) (4) (40) (16) (10) (5) (3) (141) Balance, March 31, 2022 $ 379 $ 180 $ 823 $ 182 $ 1,651 $ 156 $ 127 $ 1,118 $ 623 $ 685 $ 93 $ 135 $ 6,152 ______________ (1) “CB” defined as Closed Block. (2) DAC amortization of $2 million related to Other not reflected in table above. Changes in the Individual Retirement Sales Inducement Assets for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 GMxB Core GMxB Legacy GMxB Core GMxB Legacy (in millions) Balance beginning of the period $ 137 $ 200 $ 147 $ 222 Amortization (3) (5) (3) (6) Balance, end of the period $ 134 $ 195 $ 144 $ 216 Changes in the Protection Solution Unearned Revenue Liability for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 UL VUL IUL UL VUL IUL (in millions) Balance beginning of the period $ 95 $ 684 $ 157 $ 80 $ 619 $ 94 Capitalization 5 27 17 5 25 18 Amortization (2) (10) (3) (1) (10) (2) Balance, end of the period $ 98 $ 701 $ 171 $ 84 $ 634 $ 110
Schedule of Reconciliation of Deferred Acquisition Cost	The following table presents a reconciliation of DAC to the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Protection Solutions Term $ 356 $ 362 Universal Life 177 179 Variable Universal Life 910 889 Indexed Universal Life 185 185 Individual Retirement GMxB Core 1,609 1,625 EQUI-VEST Individual 156 156 Investment Edge 156 148 SCS 1,333 1,279 Legacy Segment GMxB Legacy 583 593 Group Retirement EQUI-VEST Group 716 710 Momentum 87 89 Corporate and Other 124 127 Other 27 27 Total $ 6,419 $ 6,369

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
FAIR VALUE DISCLOSURES (Tables)	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of March 31, 2023 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments Fixed maturities, AFS: Corporate (1) $ — $ 43,143 $ 1,950 $ 45,093 U.S. Treasury, government and agency — 6,069 — 6,069 States and political subdivisions — 547 28 575 Foreign governments — 898 — 898 Residential mortgage-backed (2) — 847 — 847 Asset-backed (3) — 8,230 12 8,242 Commercial mortgage-backed — 3,264 34 3,298 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 63,041 2,024 65,065 Fixed maturities, at fair value using the fair value option — 1,347 196 1,543 Other equity investments (6) 210 486 11 707 Trading securities 296 477 55 828 Other invested assets: Short-term investments — 1,170 — 1,170 Assets of consolidated VIEs/VOEs 144 403 4 551 Swaps — (355) — (355) Credit default swaps — 5 — 5 Futures (5) — — (5) Options — 5,859 — 5,859 Total other invested assets 139 7,082 4 7,225 Cash equivalents 3,462 272 — 3,734 Segregated securities — 1,055 — 1,055 Purchased market risk benefits — — 10,676 10,676 Assets for market risk benefits — — 629 629 Separate Accounts assets (4) 116,581 2,557 1 119,139 Total Assets $ 120,688 $ 76,317 $ 13,596 $ 210,601 Liabilities: Notes issued by consolidated VIE’s, at fair value using the fair value option (5) $ — $ 1,383 $ — $ 1,383 SCS, SIO, MSO and IUL indexed features’ liability — 6,063 — 6,063 Liabilities of consolidated VIEs and VOEs 15 1 — 16 Liabilities for market risk benefits — — 15,061 15,061 Contingent payment arrangements — — 248 248 Total Liabilities $ 15 $ 7,447 $ 15,309 $ 22,771 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of March 31, 2023, the fair value of such investments was $425 million. (5) Includes CLO short-term debt of $231 million, which is inclusive as fair valued within Notes issued by consolidated VIE’s, at fair value using the fair value option. Accrued interest payable of $17 million is reported in Notes issued by consolidated VIE’s, at fair value using the fair value option in the consolidated balance sheets, which is not required to be measured at fair value on a recurring basis. (6) Includes short position equity securities of $17 million that are reported in other liabilities. Fair Value Measurements as of December 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments Fixed maturities, AFS: Corporate (1) $ — $ 41,450 $ 2,121 $ 43,571 U.S. Treasury, government and agency — 5,837 — 5,837 States and political subdivisions — 499 28 527 Foreign governments — 836 — 836 Residential mortgage-backed (2) — 788 34 822 Asset-backed (3) — 8,490 — 8,490 Commercial mortgage-backed (2) — 3,203 32 3,235 Redeemable preferred stock — 43 — 43 Total fixed maturities, AFS — 61,146 2,215 63,361 Fixed maturities, at fair value using the fair value option 1,284 224 1,508 Other equity investments (6) 214 497 12 723 Trading securities 290 332 55 677 Other invested assets: Short-term investments — 943 — 943 Assets of consolidated VIEs/VOEs 131 393 5 529 Swaps — (425) — (425) Credit default swaps — 9 — 9 Futures 2 — — 2 Options — 4,171 — 4,171 Total other invested assets 133 5,091 5 5,229 Cash equivalents 2,386 501 — 2,887 Segregated securities — 1,522 — 1,522 Purchased market risk benefits — — 10,423 10,423 Assets for market risk benefits — — 490 490 Separate Accounts assets (4) 111,744 2,436 1 114,181 Total Assets $ 114,767 $ 72,809 $ 13,425 $ 201,001 Liabilities: Notes issued by consolidated VIE’s, at fair value using the fair value option (5) $ — $ 1,374 $ — $ 1,374 SCS, SIO, MSO and IUL indexed features’ liability — 4,164 — 4,164 Liabilities of consolidated VIEs and VOEs 15 7 — 22 Liabilities for market risk benefits — — 15,766 15,766 Contingent payment arrangements — — 247 247 Total Liabilities $ 15 $ 5,545 $ 16,013 $ 21,573 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2022, the fair value of such investments was $456 million. (5) Includes CLO short-term debt of $239 million, which is inclusive as fair valued within Notes issued by consolidated VIE’s, at fair value using the fair value option Accrued interest payable of $15 million is reported in Notes issued by consolidated VIE’s, at fair value using the fair value option in the consolidated balance sheets, which is not required to be measured at fair value on a recurring basis. (6) Includes short position equity securities of $12 million that are reported in other liabilities.
Schedule of Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses) for the three months ended March 31, 2023 and 2022, respectively. Not included below are the changes in balances related to market risk benefits and purchased market risk level 3 assets and liabilities, which are included in Note 9 of the Notes to these Consolidated Financial Statements. Corporate State and Political Subdivisions Asset-backed CMBS RMBS Trading Securities, at Fair Value Fixed maturities, at FVO (in millions) Balance, January 1, 2023 $ 2,121 $ 28 $ — $ 32 $ 34 $ 55 $ 224 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 2 — — — — — 3 Investment gains (losses), net (3) — — — — — — Subtotal (1) — — — — — 3 Other comprehensive income (loss) 18 — — — — — — Purchases 171 — 12 2 — — 12 Sales (91) — — — — — — Activity related to consolidated VIEs/VOEs — — — — — — — Transfers into Level 3 (1) — — — — — — 56 Transfers out of Level 3 (1) (268) — — — (34) — (99) Balance, March 31, 2023 $ 1,950 $ 28 $ 12 $ 34 $ — $ 55 $ 196 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — $ — $ — $ 3 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 17 $ — $ — $ — $ — $ — $ — Balance, January 1, 2022 $ 1,504 $ 35 $ 8 $ 20 $ — $ 65 $ 201 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — — — — (4) Investment gains (losses), net 1 — — — — (13) — Subtotal 2 — — — — (13) (4) Other comprehensive income (loss) (31) (2) — (1) — — — Purchases 232 — 325 219 — — 89 Sales (87) (1) (1) — — — (29) Activity related to consolidated VIEs/VOEs — — — — — — — Transfers into Level 3 (1) 70 — — — — — 188 Transfers out of Level 3 (1) (7) — — — — — (103) Balance, March 31, 2022 $ 1,683 $ 32 $ 332 $ 238 $ — $ 52 $ 342 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — $ — $ (13) $ (4) Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (29) $ (2) $ — $ (1) $ — $ — $ — _____________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of March 31, 2023 and March 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Other Equity Investments (3) Separate Accounts Assets Contingent Payment Arrangement (in millions) Balance, January 1, 2023 $ 17 $ 1 $ (247) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income (3) — — Net derivative gains (losses) — — — Total realized and unrealized gains (losses) (3) — — Other comprehensive income (loss) — — — Purchases — — Sales — — — Settlements — — — Other — — (1) Activity related to consolidated VIEs/VOEs — — — Transfers into Level 3 (1) 1 — — Transfers out of Level 3 (1) — — — Balance, March 31, 2023 $ 15 $ 1 $ (248) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ (3) $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — Balance, January 1, 2022 $ 16 $ 1 $ (38) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — Net derivative gains (losses) — — — Total realized and unrealized gains (losses) — — — Other comprehensive income (loss) — — — Purchases — — 1 Sales — (1) — Other — — — Activity related to consolidated VIEs/VOEs (2) — — Transfers into Level 3 (1) — — — Transfers out of Level 3 (1) (3) — — Balance, March 31, 2022 $ 11 $ — $ (37) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ — $ — $ — (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair (2) For instruments held as of March 31, 2023 and March 31, 2022, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (3) Other Equity Investments include other invested assets.
Schedule of Quantitative Information About Level 3 Fair Value Measurement	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2023 and December 31, 2022, respectively. Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2023 Fair Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 475 Matrix pricing model Spread over Benchmark 20 bps - 270 bps 175 bps 1,001 Market comparable EBITDA multiples Discount rate Cash flow multiples Loan to value 5.3x - 31.5x 8.3% - 24.8% 0.5x - 11.0x 0.0% - 68.7% 14.7x 10.0% 6.8x 0.9% Trading Securities, at Fair Value 55 Discounted Cash Flow Earnings multiple Discount factor Discount years 8.3x 10.0% 7 Other equity investments 2 Discounted Cash Flow Earnings Multiple 7.0x - 11.0x 9.2x Purchased MRB asset (1) (2) (4) 10,676 Discounted cash flow Lapse rates Withdrawal rates GMIB Utilization rates Non-performance risk Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.26%-26.23% 0.06%-10.93% 0.04%-66.66% 65 bps - 149 bps 17%-26% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 1.52% 0.70% 7.42% 69 bps 22% 2.85% (same for all ages) (same for all ages) Liabilities: AB Contingent Consideration Payable $ 248 Discounted cash flow Expected revenue growth rates Discount rate 2.0% - 83.9% 1.9% - 10.4% 10.3% 4.6% Direct MRB (1) (2) (3) (4) 14,432 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 191 bps 0.26%-35.42% 0.00%-10.93% 0.04%-100.00% 0.01%-0.17% 0.06%-0.52% 0.32%-40.00% 191 bps 2.77% 0.62% 4.99% 2.18% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. Utilization rates were developed as a function of the benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $15.1 billion of MRB liabilities and $629 million of MRB assets. (4) Includes Legacy and Core products. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2022 Fair Valuation Significant Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 417 Matrix pricing model Spread over benchmark 20 bps - 797 bps 205 bps 1,029 Market comparable companies EBITDA multiples Discount rate Cash flow multiples Loan to value 5.3x - 35.8x 9.0% - 45.7% 0.0x-10.3x 0.0%-40.4% 13.6x 11.9% 6.1x 12.0% Trading Securities, at Fair Value 55 Discounted cash flow Earnings multiple Discounts factor Discount years 8.3x 10.00% 7 Other equity investments 4 Market comparable companies Revenue multiple 0.5x - 10.8x 2.4x Purchased MRB asset (1) (2) (4) 10,423 Discounted cash flow Lapse rates Withdrawal rates GMIB Utilization rates Non-performance risk Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.26% - 26.23% 0.06% - 10.93% 0.04% - 66.66% 54 bps - 124 bps 14% - 32% 0.01% - 0.17% 0.06% - 0.52% 0.32% - 40.00% 1.58% 0.69% 7.39% 69 bps 24% 2.87% (same for all ages) (same for all ages) Liabilities: AB Contingent Consideration Payable $ 247 Discounted cash flow Expected revenue growth rates Discount rate 2.0% - 83.9% 1.9% - 10.4% 11.5% 4.5% Direct MRB (1) (2) (3) (4) 15,276 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality: Ages 0-40 Ages 41-60 Ages 61-115 157 bps 0.26% - 35.42% 0.00% - 10.93% 0.04% - 100.00% 0.01% - 0.17% 0.06% - 0.52% 0.32% - 40.00% 157 bps 3.01% 0.68% 5.53% 2.43% (same for all ages) (same for all ages) ______________ (1) Mortality rates vary by age and demographic characteristic such as gender and benefits elected with the policy. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) Lapses and pro-rata withdrawal rates were developed as a function of the policy account value. Dollar for dollar withdrawal rates were developed as a function of the dollar for dollar threshold, the dollar for dollar limit. Utilization rates were developed as a function of the benefit base. (3) MRB liabilities are shown net of MRB assets. Net amount is made up of $15.8 billion of MRB liabilities and $490 million of MRB assets. (4) Includes Legacy and Core products.
Schedule of Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values as of March 31, 2023 and December 31, 2022 for financial instruments not otherwise disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements are presented in the table below. Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Fair Value Level 1 Level 2 Level 3 Total (in millions) March 31, 2023: Mortgage loans on real estate $ 16,969 $ — $ — $ 15,268 $ 15,268 Policy loans $ 4,028 $ — $ — $ 4,400 $ 4,400 Policyholders’ liabilities: Investment contracts $ 1,844 $ — $ — $ 1,708 $ 1,708 FHLB funding agreements $ 8,369 $ — $ 8,285 $ — $ 8,285 FABN funding agreements $ 7,367 $ — $ 6,850 $ — $ 6,850 Short-term debt (1) $ 520 $ — $ 520 $ — $ 520 Long-term debt $ 3,819 $ — $ 3,605 $ — $ 3,605 Separate Accounts liabilities $ 10,669 $ — $ — $ 10,669 $ 10,669 December 31, 2022: Mortgage loans on real estate $ 16,481 $ — $ — $ 14,690 $ 14,690 Policy loans $ 4,033 $ — $ — $ 4,349 $ 4,349 Policyholders’ liabilities: Investment contracts $ 1,916 $ — $ — $ 1,750 $ 1,750 FHLB funding agreements $ 8,505 $ — $ 8,390 $ — $ 8,390 FABN funding agreements $ 7,095 $ — $ 6,384 $ — $ 6,384 Short-term debt (1) $ 520 $ — $ 518 $ — $ 518 Long-term debt $ 3,322 $ — $ 3,130 $ — $ 3,130 Separate Accounts liabilities $ 10,236 $ — $ — $ 10,236 $ 10,236 _____________ (1) As of March 31, 2023 and December 31, 2022, excludes CLO short-term debt of $231 million and $239 million, which is inclusive as fair valued within Notes issued by consolidated VIE’s, at fair value using the fair value option.

LIABILITIES FOR FUTURE POLICY_2

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS (Tables)	3 Months Ended
LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS (Tables)	Mar. 31, 2023
Insurance [Abstract]
Schedule of Policyholder Account Balance	The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts for the three months ended March 31, 2023 and 2022. Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of the period $ 2,100 $ — $ — $ — $ (5) $ 2,485 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,078 — — — (5) 1,864 — — — 19 Effect of changes in cash flow assumptions 8 — — — — — — — — — Effect of actual variances from expected experience 3 — — — (6) 56 — — — (18) Adjusted beginning of the period balance 2,089 — — — (11) 1,920 — — — 1 Issuances 15 — — — — 22 — — — — Interest accrual 25 — — — — 23 — — — — Net premiums collected (51) — — — 1 (49) — — — — Ending Balance at original discount rate 2,078 — — — (10) 1,916 — — — 1 Effect of changes in discount rate assumptions 82 — — — — 387 — — — 1 Balance, end of the period $ 2,160 $ — $ — $ — $ (10) $ 2,303 $ — $ — $ — $ 2 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of the period $ 3,465 $ 828 $ 2,689 $ 523 $ 1,553 $ 4,294 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,391 845 3,024 583 1,795 3,241 883 2,400 632 1,915 Effect of changes in cash flow assumptions 9 — — — — — — — — — Effect of actual variances from expected experience 4 1 — (1) (7) 60 — (4) — (20) Adjusted beginning of the period balance 3,404 846 3,024 582 1,788 3,301 883 2,396 632 1,895 Issuances 16 15 222 — — 23 9 152 — — Interest accrual 42 10 21 5 15 42 10 16 5 15 Benefits payments (95) (23) (65) (17) (33) (137) (24) (47) (18) (41) Ending Balance at original discount rate 3,367 848 3,202 570 1,770 3,229 878 2,517 619 1,869 Effect of changes in discount rate assumptions 164 6 (258) (48) (197) 650 126 (58) 2 (5) Balance, end of the period $ 3,531 $ 854 $ 2,944 $ 522 $ 1,573 $ 3,879 $ 1,004 $ 2,459 $ 621 $ 1,864 Net liability for future policy benefits $ 1,371 $ 854 $ 2,944 $ 522 $ 1,583 $ 1,576 $ 1,004 $ 2,459 $ 621 $ 1,862 Less: Reinsurance recoverable 27 — (589) — (1,258) 16 — (203) — (1,479) Net liability for future policy benefits, after reinsurance recoverable $ 1,398 $ 854 $ 2,355 $ 522 $ 325 $ 1,592 $ 1,004 $ 2,256 $ 621 $ 383 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.4 7.9 7.1 8.7 7.5 9.6 8.4 7.2 8.9 The following table summarizes the balances and changes in policyholders’ account balances three months ended and as of March 31, 2023 and 2022: Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 5,340 $ 4,909 $ 688 $ 69 $ 35,702 $ 2,652 $ 12,045 $ 702 Issuances — — — — — — — — Premiums received 184 38 20 46 — 11 148 19 Policy charges (194) (65) 19 (4) (1) — (1) — Surrenders and withdrawals (18) (1) (25) (8) (607) (94) (405) (30) Benefit payments (76) (40) (24) (1) (59) (20) (17) (2) Net transfers from (to) separate account — (45) — (49) 1,982 3 69 (9) Interest credited (2) 55 55 7 2 1,620 19 102 3 Other — — — — — 3 11 — Balance, end of the period $ 5,291 $ 4,851 $ 685 $ 55 $ 38,637 $ 2,574 $ 11,952 $ 683 Weighted-average crediting rate 3.64% 3.81% 1.78% 1.05% 1.12% 3.09% 2.99% 2.03% Net amount at risk (3) $ 37,031 $ 114,419 $ 21,472 $ 3,287 $ 43 $ 128 $ 58 $ — Cash surrender value $ 3,475 $ 3,293 $ 957 $ 284 $ 35,286 $ 2,567 $ 11,871 $ 684 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. March 31, 2022 Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (in millions) Balance, beginning of the period $ 5,462 $ 4,807 $ 745 $ 112 $ 33,443 $ 2,784 $ 11,951 $ 704 Issuances — — — — — — — — Premiums received 191 47 16 40 — 15 149 23 Policy charges (200) (55) 13 (10) — — (1) — Surrenders and withdrawals (20) — (16) (8) (714) (45) (195) (36) Benefit payments (53) (3) (27) (1) (59) (15) (19) (1) Net transfers from (to) separate account — 12 4 (38) 1,717 10 109 23 Interest credited (2) 56 43 7 2 (272) 20 66 3 Other — — — — — — — — Balance, end of the period $ 5,436 $ 4,851 $ 742 $ 97 $ 34,115 $ 2,769 $ 12,060 $ 716 Weighted-average crediting rate 3.62% 3.83% 1.81% 1.05% 1.14% 2.86% 2.36% 2.04% Net amount at risk (3) $ 39,254 $ 112,430 $ 17,987 $ 1,787 $ 10 $ 104 $ 19 $ — Cash surrender value $ 3,521 $ 3,403 $ 1,031 $ 309 $ 31,608 $ 2,761 $ 11,982 $ 716 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account (2) SCS and EQUI-VEST includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Policyholders’ account balance reconciliation Protection Solution Universal Life $ 5,291 $ 5,340 Variable Universal Life 4,851 4,909 Legacy Segment GMxB Legacy 685 688 Individual Retirement GMxB Core 55 69 EQUI-VEST Individual 2,574 2,652 SCS 38,637 35,702 Group Retirement EQUI-VEST Group 11,952 12,045 Momentum 683 702 Other (1) 6,235 6,122 Balance (exclusive of Funding Agreements) 70,963 68,229 Funding Agreements 15,798 15,637 Balance, end of the period $ 86,761 $ 83,866 _____________ Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 13,187 $ 32,616 $ 27,772 $ 4,161 $ 3,798 $ 22,393 $ 3,885 Premiums and deposits 287 65 256 26 253 531 178 Policy charges (137) (178) (115) (1) — (4) (5) Surrenders and withdrawals (117) (660) (559) (100) (95) (359) (157) Benefit payments (24) (192) (56) (14) (12) (15) (3) Investment performance (1) 843 1,808 1,202 269 175 1,438 235 Net transfers from (to) general account 45 — 49 (3) (140) (69) 9 Other charges (2) — — — 4 — 25 — Balance, end of the period $ 14,084 $ 33,459 $ 28,549 $ 4,342 $ 3,979 $ 23,940 $ 4,142 Cash surrender value $ 13,755 $ 33,181 $ 27,680 $ 4,310 $ 3,885 $ 23,702 $ 4,136 _____________ (1) Investment performance is reflected net of M&E fees. (2) EQUI-VEST Individual and EQUI-VEST Group for the three months ending March 31, 2023, amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2022 (in millions) Balance, beginning of the period $ 16,405 $ 44,912 $ 35,288 $ 5,583 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 283 55 441 42 241 523 185 Policy charges (139) (183) (114) — — (4) (5) Surrenders and withdrawals (114) (771) (690) (88) (68) (356) (210) Benefit payments (54) (186) (70) (16) (11) (20) (1) Investment performance (1) (1,032) (2,932) (2,197) (380) (257) (1,874) (326) Net transfers from (to) general account (12) (4) 38 (10) (39) (109) (23) Balance, end of the period $ 15,337 $ 40,891 $ 32,696 $ 5,131 $ 4,153 $ 25,669 $ 4,595 Cash surrender value $ 15,022 $ 40,601 $ 31,748 $ 5,096 $ 4,061 $ 25,426 $ 4,588 (1) Investment performance is reflected net of M&E fees. ______________ The following table reconciles the separate account liabilities to the separate account liability balance in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Separate Account Reconciliation Protection Solution Variable Universal Life $ 14,084 $ 13,187 Legacy Segment GMxB Legacy 33,459 32,616 Individual Retirement GMxB Core 28,549 27,772 EQUI-VEST Individual 4,342 4,161 Investment Edge 3,979 3,798 Group Retirement EQUI-VEST Group 23,940 22,393 Momentum 4,142 3,885 Other (1) 7,257 7,041 Total $ 119,752 $ 114,853 ______________
Policyholder Account Balance And Liability For Unpaid Claims And Claims Adjustment Expense	The following table reconciles the net liability for future policy benefits and liability of death benefits to the liability for future policy benefits in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Reconciliation Term $ 1,371 $ 1,365 Individual Retirement - Payout 853 828 Legacy - Payout 2,944 2,689 Group Pension - Benefit Reserve & DPL 523 523 Health 1,583 1,558 Universal Life - additional liability for death benefits 1,133 1,109 Subtotal 8,407 8,072 W hole Life Closed Block and Open Block products 5,597 5,664 Other (1) 904 908 Future policyholder benefits total 14,908 14,644 Other policyholder funds and dividends payable 1,830 1,959 Total $ 16,738 $ 16,603 _____________ (1) Primarily consists of Future policy benefits related to Protective Life and Annuity, Assumed Life and DI, GRP Life Run off, VISL rider and Employee Benefits.
Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses	The following table provides the amount of undiscounted and discounted expected gross premiums and expected future benefits and expenses related to nonparticipating traditional and limited payment contracts as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 (in millions) Term Expected future benefit payments and expenses (undiscounted) $ 5,972 $ 6,022 Expected future gross premiums (undiscounted) 7,188 7,273 Expected future benefit payments and expenses (discounted; AOCI basis) 3,531 3,465 Expected future gross premiums (discounted; AOCI basis) 3,981 3,904 Payout - Legacy Expected future benefit payments and expenses (undiscounted) 4,227 3,947 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 2,861 2,607 Expected future gross premiums (discounted; AOCI basis) — — Payout Expected future benefit payments and expenses (undiscounted) 1,456 1,460 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 825 801 Expected future gross premiums (discounted; AOCI basis) — — March 31, 2023 December 31, 2022 (in millions) Group Pension Expected future benefit payments and expenses (undiscounted) 713 730 Expected future gross premiums (undiscounted) — — Expected future benefit payments and expenses (discounted; AOCI basis) 550 563 Expected future gross premiums (discounted; AOCI basis) — — Health Expected future benefit payments and expenses (undiscounted) 2,469 2,510 Expected future gross premiums (undiscounted) 94 99 Expected future benefit payments and expenses (discounted; AOCI basis) 1,553 1,533 Expected future gross premiums (discounted; AOCI basis) $ 75 $ 78
Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion	The tables below summarizes the revenue and interest related to nonparticipating traditional and limited payment contracts for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 Gross Premium Interest Accretion (in millions) Revenue and Interest Accretion Term $ 70 $ 71 $ 17 $ 18 Payout - Legacy 27 21 21 16 Payout 15 9 10 11 Group Pension — — 5 5 Health 2 2 15 15 Total $ 114 $ 103 $ 68 $ 65
Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates	The following table provides the weighted average interest rates for the liability for future policy benefits as of March 31, 2023 and December 31, 2022: March 31, 2023 December 31, 2022 Weighted Average Interest Rate Term Life Interest accretion rate 5.6 % 5.7 % Current discount rate 4.7 % 5.1 % Payout - Legacy Interest accretion rate 3.6 % 3.4 % Current discount rate 4.8 % 5.0 % Payout Interest accretion rate 4.9 % 4.9 % Current discount rate 4.9 % 5.2 % Group Pension Interest accretion rate 3.4 % 3.4 % Current discount rate 4.7 % 5.1 % Health Interest accretion rate 3.3 % 3.3 % Current discount rate 4.9 % 5.2 %
Balances of and Changes in Additional Liabilities Related to Insurance Guarantees	The following table provides the balance, changes in and the weighted average durations of the additional insurance liabilities for the three months ended March 31, 2023 and 2022: March 31, 2023 March 31, 2022 Protection Solutions Universal Life Universal Life (Dollars in millions) Balance, beginning of the period $ 1,109 $ 1,087 Beginning balance before AOCI adjustments 1,135 1,076 Effect of changes in interest rate & cash flow assumptions and model changes — 5 Effect of actual variances from expected experience 6 5 Adjusted beginning of the period balance 1,141 1,086 Interest accrual 13 12 Net assessments collected 18 21 Benefit payments (18) (29) Ending balance before shadow reserve adjustments 1,154 1,090 Effect of reserve adjustment recorded in AOCI (21) (2) Balance, end of the period $ 1,133 $ 1,088 Net liability for additional liability $ 1,133 $ 1,088 Less: Reinsurance recoverable — — Net liability for additional liability, after reinsurance recoverable $ 1,133 $ 1,088 Weighted-average duration of additional liability - death benefit (years) 21.6 22.9 The following tables provides the revenue, interest and weighted average interest rates, related to the additional insurance liabilities for the three months ended and as of March 31, 2023 and 2022. Three Months Ended March 31, 2023 2022 2023 2022 Assessments Interest Accretion (in millions) Revenue and Interest Accretion Universal Life $ 172 $ 180 $ 13 $ 12 Total $ 172 $ 180 $ 13 $ 12 March 31, 2023 2022 Weighted Average Interest Rate Universal Life 4.5 % 4.5 % Interest accretion rate 4.5 % 4.5 %

MARKET RISK BENEFITS (Tables)

MARKET RISK BENEFITS (Tables)	3 Months Ended
MARKET RISK BENEFITS (Tables)	Mar. 31, 2023
Market Risk Benefit [Abstract]
Schedule of Market Risk Benefit, Activity	The following table summarizes the balance of and changes in the net liability position of market risk benefits on January 1, 2021 resulting from the adoption of ASU 2018-12: Individual Retirement Legacy Total GMxB Core GMxB Legacy Purchased MRB (in millions) Balance, December 31, 2020 $ 2,206 $ 19,891 $ (2,572) $ 19,525 Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income (4) (70) — (74) Adjustments for the cumulative effect of the changes in the instrument-specific credit risk between the original contract issuance date and the transition date (1) 505 461 2 968 Adjustments for the remaining difference (exclusive of the instrument specific credit risk change and host contract adjustments) between previous carrying amount and fair value measurement for the MRB (1) (563) 4,122 (194) 3,365 Balance, January 1, 2021 $ 2,144 $ 24,404 $ (2,764) $ 23,784 _____________ (1) MRB transition table not inclusive of the following transition adjustments to retained earnings and AOCI including Individual Retirement EQUI-VEST of $43 million, SCS of $21 million, Protection Solutions of $(2) million and Group Retirement EQUI-VEST of $(20) million. March 31, 2023 March 31, 2022 Individual Retirement Legacy Individual Retirement Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy GMxB Core GMxB Legacy Purchased MRB (3) Net Legacy (in millions) Balance, beginning of the period (“BOP”) $ 530 $ 14,699 $ (10,415) $ 4,284 $ 1,061 $ 20,236 $ (14,059) $ 6,177 Balance BOP before changes in the instrument specific credit risk 529 15,314 (10,358) 4,956 666 19,719 (14,051) 5,668 Model changes and effect of changes in cash flow assumptions — — — — — (87) 29 (58) Actual market movement effect (211) (744) 387 (357) 328 1,098 (399) 699 Interest accrual 18 197 (153) 44 5 104 (61) 43 Attributed fees accrued (1) 95 209 (83) 126 92 219 (86) 133 Benefit payments (12) (342) 185 (157) (5) (251) 136 (115) Actual policyholder behavior different from expected behavior 7 21 (18) 3 1 33 (15) 18 Changes in future economic assumptions 125 944 (530) 414 (542) (2,934) 2,006 (928) Issuances (1) — — — (5) — — — Balance EOP before changes in the instrument-specific credit risk $ 550 $ 15,599 $ (10,570) $ 5,029 $ 540 $ 17,901 $ (12,441) $ 5,460 Changes in the instrument-specific credit risk (2) (233) (1,517) (99) (1,616) (42) (970) (66) (1,036) Balance, end of the period (“EOP”) $ 317 $ 14,082 $ (10,669) $ 3,413 $ 498 $ 16,931 $ (12,507) $ 4,424 Weighted-average age of policyholders (years) 63.7 72.8 67.7 N/A 62.8 72.2 67.1 N/A Net amount at risk $ 3,287 $ 21,472 $ 10,045 N/A $ 1,787 $ 17,987 $ 7,657 N/A _____________ (1) Attributed fees accrued represents the portion of the fees needed to fund future GMxB claims. (2) Changes are recorded in OCI. (3) Purchased MRB is the impact of non-affiliated reinsurance. The following table reconciles market risk benefits by the amounts in an asset position and amounts in a liability position to the market risk amounts in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Direct Asset Direct Liability Net Direct MRB Purchased MRB Total Direct Asset Direct Liability Net Direct MRB Purchased MRB Total (in millions) Legacy Segment GMxB Legacy $ (74) $ 14,156 $ 14,082 $ (10,669) $ 3,413 $ (51) $ 14,749 $ 14,699 $ (10,412) $ 4,287 Individual Retirement GMxB Core (498) 815 317 — 317 (387) 917 530 — 530 Other (1) (57) 90 33 (7) 26 (52) 100 47 (11) 36 Total $ (629) $ 15,061 $ 14,432 $ (10,676) $ 3,756 $ (490) $ 15,766 $ 15,276 $ (10,423) $ 4,853 ______________ (1) Other primarily includes Individual EQUI-VEST MRB.

POLICYHOLDER ACCOUNT BALANCES (

POLICYHOLDER ACCOUNT BALANCES (Tables)	3 Months Ended
POLICYHOLDER ACCOUNT BALANCES (Tables)	Mar. 31, 2023
Policyholder Account Balance [Abstract]
Schedule of Policyholder Account Balance	The following table summarizes balances and changes in the liability for future policy benefits for nonparticipating traditional and limited pay contracts for the three months ended March 31, 2023 and 2022. Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (in millions) Present Value of Expected Net Premiums Balance, beginning of the period $ 2,100 $ — $ — $ — $ (5) $ 2,485 $ — $ — $ — $ 22 Beginning balance at original discount rate 2,078 — — — (5) 1,864 — — — 19 Effect of changes in cash flow assumptions 8 — — — — — — — — — Effect of actual variances from expected experience 3 — — — (6) 56 — — — (18) Adjusted beginning of the period balance 2,089 — — — (11) 1,920 — — — 1 Issuances 15 — — — — 22 — — — — Interest accrual 25 — — — — 23 — — — — Net premiums collected (51) — — — 1 (49) — — — — Ending Balance at original discount rate 2,078 — — — (10) 1,916 — — — 1 Effect of changes in discount rate assumptions 82 — — — — 387 — — — 1 Balance, end of the period $ 2,160 $ — $ — $ — $ (10) $ 2,303 $ — $ — $ — $ 2 Three Months Ended March 31, 2023 Three Months Ended March 31, 2022 Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Protection Solutions Individual Retirement GMxB Legacy Corporate & Other Term Payout Payout Group Pension Health Term Payout Payout Group Pension Health (Dollars in millions) Present Value of Expected Future Policy Benefits Balance, beginning of the period $ 3,465 $ 828 $ 2,689 $ 523 $ 1,553 $ 4,294 $ 1,114 $ 2,547 $ 683 $ 2,092 Beginning balance of original discount rate 3,391 845 3,024 583 1,795 3,241 883 2,400 632 1,915 Effect of changes in cash flow assumptions 9 — — — — — — — — — Effect of actual variances from expected experience 4 1 — (1) (7) 60 — (4) — (20) Adjusted beginning of the period balance 3,404 846 3,024 582 1,788 3,301 883 2,396 632 1,895 Issuances 16 15 222 — — 23 9 152 — — Interest accrual 42 10 21 5 15 42 10 16 5 15 Benefits payments (95) (23) (65) (17) (33) (137) (24) (47) (18) (41) Ending Balance at original discount rate 3,367 848 3,202 570 1,770 3,229 878 2,517 619 1,869 Effect of changes in discount rate assumptions 164 6 (258) (48) (197) 650 126 (58) 2 (5) Balance, end of the period $ 3,531 $ 854 $ 2,944 $ 522 $ 1,573 $ 3,879 $ 1,004 $ 2,459 $ 621 $ 1,864 Net liability for future policy benefits $ 1,371 $ 854 $ 2,944 $ 522 $ 1,583 $ 1,576 $ 1,004 $ 2,459 $ 621 $ 1,862 Less: Reinsurance recoverable 27 — (589) — (1,258) 16 — (203) — (1,479) Net liability for future policy benefits, after reinsurance recoverable $ 1,398 $ 854 $ 2,355 $ 522 $ 325 $ 1,592 $ 1,004 $ 2,256 $ 621 $ 383 Weighted-average duration of liability for future policyholder benefits (years) 7.0 9.4 7.9 7.1 8.7 7.5 9.6 8.4 7.2 8.9 The following table summarizes the balances and changes in policyholders’ account balances three months ended and as of March 31, 2023 and 2022: Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 5,340 $ 4,909 $ 688 $ 69 $ 35,702 $ 2,652 $ 12,045 $ 702 Issuances — — — — — — — — Premiums received 184 38 20 46 — 11 148 19 Policy charges (194) (65) 19 (4) (1) — (1) — Surrenders and withdrawals (18) (1) (25) (8) (607) (94) (405) (30) Benefit payments (76) (40) (24) (1) (59) (20) (17) (2) Net transfers from (to) separate account — (45) — (49) 1,982 3 69 (9) Interest credited (2) 55 55 7 2 1,620 19 102 3 Other — — — — — 3 11 — Balance, end of the period $ 5,291 $ 4,851 $ 685 $ 55 $ 38,637 $ 2,574 $ 11,952 $ 683 Weighted-average crediting rate 3.64% 3.81% 1.78% 1.05% 1.12% 3.09% 2.99% 2.03% Net amount at risk (3) $ 37,031 $ 114,419 $ 21,472 $ 3,287 $ 43 $ 128 $ 58 $ — Cash surrender value $ 3,475 $ 3,293 $ 957 $ 284 $ 35,286 $ 2,567 $ 11,871 $ 684 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account. (2) SCS and EQUI-VEST Group includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder. March 31, 2022 Protection Solutions Legacy Individual Retirement Group Retirement Universal Life Variable Universal Life GMxB Legacy GMxB Core SCS (1) EQUI-VEST Individual EQUI-VEST Group Momentum (in millions) Balance, beginning of the period $ 5,462 $ 4,807 $ 745 $ 112 $ 33,443 $ 2,784 $ 11,951 $ 704 Issuances — — — — — — — — Premiums received 191 47 16 40 — 15 149 23 Policy charges (200) (55) 13 (10) — — (1) — Surrenders and withdrawals (20) — (16) (8) (714) (45) (195) (36) Benefit payments (53) (3) (27) (1) (59) (15) (19) (1) Net transfers from (to) separate account — 12 4 (38) 1,717 10 109 23 Interest credited (2) 56 43 7 2 (272) 20 66 3 Other — — — — — — — — Balance, end of the period $ 5,436 $ 4,851 $ 742 $ 97 $ 34,115 $ 2,769 $ 12,060 $ 716 Weighted-average crediting rate 3.62% 3.83% 1.81% 1.05% 1.14% 2.86% 2.36% 2.04% Net amount at risk (3) $ 39,254 $ 112,430 $ 17,987 $ 1,787 $ 10 $ 104 $ 19 $ — Cash surrender value $ 3,521 $ 3,403 $ 1,031 $ 309 $ 31,608 $ 2,761 $ 11,982 $ 716 ______________ (1) SCS sales are recorded as a Separate Account liability until they are swept into the General Account. This sweep is recorded as Net Transfers from (to) separate account (2) SCS and EQUI-VEST includes amounts related to the change in embedded derivative. (3) For life insurance products the net amount at risk is death benefit less account value for the policyholder. For variable annuity products the net amount risk is the maximum GMxB NAR for the policyholder The following table reconciles the policyholders account balances to the policyholders’ account balance liability in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Policyholders’ account balance reconciliation Protection Solution Universal Life $ 5,291 $ 5,340 Variable Universal Life 4,851 4,909 Legacy Segment GMxB Legacy 685 688 Individual Retirement GMxB Core 55 69 EQUI-VEST Individual 2,574 2,652 SCS 38,637 35,702 Group Retirement EQUI-VEST Group 11,952 12,045 Momentum 683 702 Other (1) 6,235 6,122 Balance (exclusive of Funding Agreements) 70,963 68,229 Funding Agreements 15,798 15,637 Balance, end of the period $ 86,761 $ 83,866 _____________ Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2023 (in millions) Balance, beginning of the period $ 13,187 $ 32,616 $ 27,772 $ 4,161 $ 3,798 $ 22,393 $ 3,885 Premiums and deposits 287 65 256 26 253 531 178 Policy charges (137) (178) (115) (1) — (4) (5) Surrenders and withdrawals (117) (660) (559) (100) (95) (359) (157) Benefit payments (24) (192) (56) (14) (12) (15) (3) Investment performance (1) 843 1,808 1,202 269 175 1,438 235 Net transfers from (to) general account 45 — 49 (3) (140) (69) 9 Other charges (2) — — — 4 — 25 — Balance, end of the period $ 14,084 $ 33,459 $ 28,549 $ 4,342 $ 3,979 $ 23,940 $ 4,142 Cash surrender value $ 13,755 $ 33,181 $ 27,680 $ 4,310 $ 3,885 $ 23,702 $ 4,136 _____________ (1) Investment performance is reflected net of M&E fees. (2) EQUI-VEST Individual and EQUI-VEST Group for the three months ending March 31, 2023, amounts reflect a total special payment applied to the accounts of active clients as part of a previously disclosed settlement agreement between Equitable Financial Life Insurance Company and the Securities & Exchange Commission. Protection Solutions Legacy Individual Retirement Group Retirement VUL GMxB Legacy GMxB Core EQUI-VEST Individual Investment Edge EQUI-VEST Group Momentum March 31, 2022 (in millions) Balance, beginning of the period $ 16,405 $ 44,912 $ 35,288 $ 5,583 $ 4,287 $ 27,509 $ 4,975 Premiums and deposits 283 55 441 42 241 523 185 Policy charges (139) (183) (114) — — (4) (5) Surrenders and withdrawals (114) (771) (690) (88) (68) (356) (210) Benefit payments (54) (186) (70) (16) (11) (20) (1) Investment performance (1) (1,032) (2,932) (2,197) (380) (257) (1,874) (326) Net transfers from (to) general account (12) (4) 38 (10) (39) (109) (23) Balance, end of the period $ 15,337 $ 40,891 $ 32,696 $ 5,131 $ 4,153 $ 25,669 $ 4,595 Cash surrender value $ 15,022 $ 40,601 $ 31,748 $ 5,096 $ 4,061 $ 25,426 $ 4,588 (1) Investment performance is reflected net of M&E fees. ______________ The following table reconciles the separate account liabilities to the separate account liability balance in the consolidated balance sheet as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 (in millions) Separate Account Reconciliation Protection Solution Variable Universal Life $ 14,084 $ 13,187 Legacy Segment GMxB Legacy 33,459 32,616 Individual Retirement GMxB Core 28,549 27,772 EQUI-VEST Individual 4,342 4,161 Investment Edge 3,979 3,798 Group Retirement EQUI-VEST Group 23,940 22,393 Momentum 4,142 3,885 Other (1) 7,257 7,041 Total $ 119,752 $ 114,853 ______________
Schedule of Policyholder Account Balance, Guaranteed Minimum Crediting Rate	The following table presents the account values by range of guaranteed minimum crediting rates and the related range of the difference in basis points, between rates being credited policyholders and the respective guaranteed minimums as of March 31, 2023 and December 31, 2022. March 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) Protection Solutions Universal Life 0.00% - 1.50% $ — $ — $ 4 $ 1 $ 5 1.51% - 2.50% 155 127 640 112 1,034 Greater than 2.50% 3,565 650 — — 4,215 Total $ 3,720 $ 777 $ 644 $ 113 $ 5,254 Variable Universal Life 0.00% - 1.50% $ 23 $ 51 $ 11 $ 2 $ 87 1.51% - 2.50% 384 156 — — 540 Greater than 2.50% 3,819 — 2 — 3,821 Total $ 4,226 $ 207 $ 13 $ 2 $ 4,448 Legacy Segment March 31, 2023 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) GMxB Legacy 0.00% - 1.50% $ 387 $ — $ — $ — $ 387 1.51% - 2.50% 539 — — — 539 Greater than 2.50% 33 — — — 33 Total $ 959 $ — $ — $ — $ 959 Individual Retirement GMxB Core 0.00% - 1.50% $ 279 $ — $ — $ — $ 279 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 293 $ — $ — $ — $ 293 EQUI-VEST Individual 0.00% - 1.50% $ 35 $ — $ 55 $ 239 $ 329 1.51% - 2.50% — — 46 — 46 Greater than 2.50% 2,121 19 59 — 2,199 Total $ 2,156 $ 19 $ 160 $ 239 $ 2,574 SCS 0.00% - 1.50% $ 31,090 $ — $ — $ — $ 31,090 1.51% - 2.50% 5,821 — — — 5,821 Greater than 2.50% — — — — — Total $ 36,911 $ — $ — $ — $ 36,911 Group Retirement EQUI-VEST Group 0.00% - 1.50% $ 58 $ 57 $ 362 $ 3,176 $ 3,653 1.51% - 2.50% 11 2 897 — 910 Greater than 2.50% 6,799 342 — — 7,141 Total $ 6,868 $ 401 $ 1,259 $ 3,176 $ 11,704 Momentum 0.00% - 1.50% $ 13 $ 291 $ 119 $ 7 $ 430 1.51% - 2.50% 174 1 — — 175 Greater than 2.50% 73 — 5 — 78 Total $ 260 $ 292 $ 124 $ 7 $ 683 December 31, 2022 Product Range of Guaranteed Minimum Crediting Rate At Guaranteed Minimum 1 Basis Point - 50 Basis Points Above 51 Basis Points - 150 Basis Points Above Greater Than 150 Basis Points Above Total ( in millions) Protection Solutions Universal Life 0.00% - 1.50% $ — $ — $ 5 $ 1 $ 6 1.51% - 2.50% 181 197 605 47 1,030 Greater than 2.50% 3,615 657 — — 4,272 Total $ 3,796 $ 854 $ 610 $ 48 $ 5,308 Variable Universal Life 0.00% - 1.50% $ 30 $ 40 $ 7 $ 1 $ 78 1.51% - 2.50% 485 53 — — 538 Greater than 2.50% 3,900 — 2 — 3,902 Total $ 4,415 $ 93 $ 9 $ 1 $ 4,518 Legacy Segment GMxB Legacy 0.00% - 1.50% $ 386 $ — $ — $ — $ 386 1.51% - 2.50% 560 — — — 560 Greater than 2.50% 35 — — — 35 Total $ 981 $ — $ — $ — $ 981 Individual Retirement GMxB Core 0.00% - 1.50% $ 289 $ — $ — $ — $ 289 1.51% - 2.50% 14 — — — 14 Greater than 2.50% — — — — — Total $ 303 $ — $ — $ — $ 303 EQUI-VEST Individual 0.00% - 1.50% $ 345 $ — $ — $ — $ 345 1.51% - 2.50% 46 — — — 46 Greater than 2.50% 2,199 — 62 — 2,261 Total $ 2,590 $ — $ 62 $ — $ 2,652 SCS 0.00% - 1.50% $ 28,086 $ — $ — $ — $ 28,086 1.51% - 2.50% 5,527 — — — 5,527 Greater than 2.50% — — — — — Total $ 33,613 $ — $ — $ — $ 33,613 Group Retirement EQUI-VEST Group 0.00% - 1.50% $ 109 $ 5 $ 366 $ 3,112 $ 3,592 1.51% - 2.50% 11 2 889 — 902 Greater than 2.50% 6,949 21 330 — 7,300 Total $ 7,069 $ 28 $ 1,585 $ 3,112 $ 11,794 Momentum 0.00% - 1.50% $ 15 $ 301 $ 122 $ 7 $ 445 1.51% - 2.50% 178 1 — — 179 Greater than 2.50% 73 — 5 — 78 Total $ 266 $ 302 $ 127 $ 7 $ 702
Schedule of Aggregate Fair Value of Separate Account Assets	The following table presents the aggregate fair value of separate account assets by major asset category as of March 31, 2023 and December 31, 2022: March 31, 2023 Protection Solutions Individual Retirement Group Retirement Corp & Other Legacy Segment Total (in millions) Asset Type Debt securities $ 63 $ 1 $ 16 $ 10 $ — $ 90 Common Stock 51 33 457 1,712 — 2,253 Mutual Funds 14,400 38,109 29,428 755 33,468 116,160 Bonds and Notes 114 3 1 1,131 — 1,249 Total $ 14,628 $ 38,146 $ 29,902 $ 3,608 $ 33,468 $ 119,752 December 31, 2022 Protection Solutions Individual Retirement Group Retirement Corp & Other Legacy Segment Total (in millions) Asset Type Debt securities $ 58 $ 1 $ 17 $ 8 $ — $ 84 Common Stock 41 32 430 1,686 — 2,189 Mutual Funds 13,498 36,860 27,639 773 32,625 111,395 Bonds and Notes 119 3 1 1,062 — 1,185 Total $ 13,716 $ 36,896 $ 28,087 $ 3,529 $ 32,625 $ 114,853

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
EMPLOYEE BENEFIT PLANS (Tables)	Mar. 31, 2023
Retirement Benefits [Abstract]
Schedule of Components of Certain Benefit Costs	Components of net periodic pension expense for the Company’s plans were as follows: Three Months Ended March 31, 2023 2022 (in millions) Service cost $ 2 $ 2 Interest cost 31 14 Expected return on assets (39) (39) Prior period service cost amortization (1) (1) Actuarial (gain) loss — — Net amortization 9 20 Impact of settlement — — Net Periodic Pension Expense $ 2 $ (4)

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
EQUITY (Tables)	Mar. 31, 2023
Equity [Abstract]
Schedule of Stock by Class	Preferred stock authorized, issued and outstanding was as follows: March 31, 2023 December 31, 2022 Series Shares Authorized Shares Shares Outstanding Shares Authorized Shares Shares Outstanding Series A 32,000 32,000 32,000 32,000 32,000 32,000 Series B 20,000 20,000 20,000 20,000 20,000 20,000 Series C 12,000 12,000 12,000 12,000 12,000 12,000 Total 64,000 64,000 64,000 64,000 64,000 64,000
Schedule of Dividends Declared	Dividends declared per share were as follows for the periods indicated: Three Months Ended March 31, 2023 2022 Series A dividends declared $ 328 $ 328 Series B dividends declared $ — $ — Series C dividends declared $ 269 $ 269 Dividends declared per share of common stock were as follows for the periods indicated: Three Months Ended March 31, 2023 2022 Dividends declared $ 0.20 $ 0.18
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of March 31, 2023 and December 31, 2022 follow: March 31, December 31, 2023 2022 (in millions) Unrealized gains (losses) on investments $ (7,917) $ (9,324) Market risk benefits - instrument-specific credit risk component 1,855 668 Liability for future policy benefits - current discount rate component 213 355 Defined benefit pension plans (629) (650) Foreign currency translation adjustments (85) (91) Total accumulated other comprehensive income (loss) (6,563) (9,042) Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest (47) (50) Accumulated other comprehensive income (loss) attributable to Holdings $ (6,516) $ (8,992)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes for the three months ended March 31, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 2022 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ 1,571 $ (5,080) (Gains) losses reclassified into net income (loss) during the period (1) 63 264 Net unrealized gains (losses) on investments 1,634 (4,816) Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other (8) 139 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $341 and $(1,244)) 1,626 (4,677) Change in LFPB discount rate and MRB credit risk, net of tax Market risk benefits - changes in instrument-specific credit risk (net of deferred income tax expense (benefit) of $249 and $418) 938 1,573 Liability for future policy benefits - changes in current discount rate (net of deferred income tax expense (benefit) of $(30) and $123) (112) 462 Change in defined benefit plans: Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost (3) 20 43 Change in defined benefit plans (net of deferred income tax expense (benefit) of $(6) and $(9)) 20 43 Foreign currency translation adjustments: Foreign currency translation gains (losses) arising during the period 6 (12) Foreign currency translation adjustment 6 (12) Total other comprehensive income (loss), net of income taxes 2,478 (2,611) Less: Other comprehensive income (loss) attributable to noncontrolling interest 2 (4) Other comprehensive income (loss) attributable to Holdings $ 2,476 $ (2,607) ______________ (1) See “reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(17) million and $(70) million for the three months ended March 31, 2023 and 2022, respectively.

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	3 Months Ended
REDEEMABLE NONCONTROLLING INTEREST (Tables)	Mar. 31, 2023
Noncontrolling Interest [Abstract]
Schedule of Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended March 31, 2023 2022 (in millions) Balance, beginning of the period $ 455 $ 468 Net earnings (loss) attributable to redeemable noncontrolling interests 12 (27) Purchase/change of redeemable noncontrolling interests 146 (55) Balance, end of the period $ 613 $ 386

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	3 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Activity of Funding Agreements	The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Three Months Ended March 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at March 31, 2023 (in millions) Short-term funding agreements: Due in one year or less $ 6,130 $ 14,066 $ (14,201) $ — $ — $ 5,995 Long-term funding agreements: Due in years two through five 1,679 — — — — 1,679 Due in more than five years 692 — — — — 692 Total long-term funding agreements 2,371 — — — — 2,371 Total funding agreements (1) $ 8,501 $ 14,066 $ (14,201) $ — $ — $ 8,366 _____________ (1) The $3 million and $4 million difference between the funding agreements carrying value shown in fair value table for March 31, 2023 and December 31, 2022, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Change in FABN Funding Agreements during the Three Months Ended March 31, 2023 Outstanding Balance at December 31, 2022 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at March 31, (in millions) Short-term funding agreements: Due in one year or less $ 1,500 $ — $ — $ — $ — $ — $ 1,500 Long-term funding agreements: Due in years two through five 4,000 300 — — 750 — 5,050 Due in more than five years 1,585 — — — (750) 7 842 Total long-term funding agreements 5,585 300 — — — 7 5,892 Total funding agreements (1) $ 7,085 $ 300 $ — $ — $ — $ 7 $ 7,392 _____________ (1) The $25 million and $66 million difference between the funding agreements notional value shown and carrying value table as of March 31, 2023 and December 31, 2022, respectively, reflects the remaining amortization of the issuance cost of the funding agreements and the foreign currency transaction adjustment.

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	3 Months Ended
BUSINESS SEGMENT INFORMATION (Tables)	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The table below presents operating earnings (loss) by segment and Corporate and Other and a reconciliation to net income (loss) attributable to Holdings for the three months ended March 31, 2023 and 2022, respectively: Three Months Ended March 31, 2023 2022 (in millions) Net income (loss) attributable to Holdings $ 177 $ 530 Adjustments related to: Variable annuity product features 861 (616) Investment (gains) losses 87 326 Net actuarial (gains) losses related to pension and other postretirement benefit obligations 9 19 Other adjustments (1) 45 228 Income tax expense (benefit) related to above adjustments (210) 9 Non-recurring tax items (605) 3 Non-GAAP Operating Earnings $ 364 $ 499 Three Months Ended March 31, 2023 2022 (in millions) Operating earnings (loss) by segment: Individual Retirement $ 200 $ 203 Group Retirement $ 89 $ 144 Investment Management and Research $ 99 $ 136 Protection Solutions $ (35) $ (3) Wealth Management $ 32 $ 32 Legacy $ 60 $ 63 Corporate and Other (2) $ (81) $ (76) ______________ (1) Includes certain legal accruals related to the COI litigation of $59 million for the three months ended March 31, 2022 .Includes policyholder benefit costs of $75 million for the three months ended March 31, 2022 stemming from a deal to repurchase UL policies from one entity that had invested in numerous policies purchased in the life settlement market. (2) Includes interest expense and financing fees of $67 million and $53 million for the three months ended March 31, 2023 and 2022, respectively. Three Months Ended March 31, 2023 2022 (in millions) Segment revenues: Individual Retirement (1) $ 588 $ 507 Group Retirement (1) 237 335 Investment Management and Research (2) 1,009 1,135 Protection Solutions (1) 767 809 Wealth Management (3) 362 376 Legacy (1) 206 215 Corporate and Other (1) 281 223 Eliminations (180) (199) Adjustments related to: Variable annuity product features (861) 616 Investment gains (losses), net (87) (326) Other adjustments to segment revenues 35 (545) Total revenues $ 2,357 $ 3,146 ______________ (1) Includes investment expenses charged by AB of $38 million and $27 million for the three months ended March 31, 2023 and 2022, respectively, for services provided to the Company. (2) Inter-segment investment management and other fees of $43 million and $33 million for the three months ended March 31, 2023 and 2022, respectively, are included in segment revenues of the Investment Management and Research segment. (3) Inter-segment distribution fees of $175 million and $193 million for the three months ended March 31, 2023 and 2022, respectively, are included in segment revenues of the Wealth Management segment. (4) Includes interest expense charged to AB of $9 million and $0 million for the three months ended March 31, 2023 and 2022, respectively. The table below presents total assets by segment as of March 31, 2023 and 2022: March 31, 2023 December 31, 2022 (in millions) Total assets by segment: Individual Retirement $ 77,922 $ 77,641 Group Retirement 44,171 42,421 Investment Management and Research 11,864 12,633 Protection Solutions 37,845 37,224 Wealth Management 174 137 Legacy 49,804 48,231 Corporate and Other 39,720 34,415 Total assets $ 261,500 $ 252,702

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
EARNINGS PER COMMON SHARE (Tables)	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents a reconciliation of Net income (loss) and Weighted-average common shares used in calculating basic and diluted Earnings per common share for the periods indicated: Three Months Ended March 31, 2023 2022 (in millions, except per share data) Weighted-average common shares outstanding: Weighted-average common shares outstanding — basic 361.9 388.6 Effect of dilutive potential common shares: Employee share awards (1) 2.2 3.1 Weighted-average common shares outstanding — diluted 364.1 391.7 Net income (loss): Net income (loss) $ 266 $ 597 Less: Net income (loss) attributable to the noncontrolling interest 89 67 Net income (loss) attributable to Holdings 177 530 Less: Preferred stock dividends 14 14 Net income (loss) available to Holdings’ common shareholders $ 163 $ 516 Earnings per common share: Basic $ 0.45 $ 1.33 Diluted $ 0.45 $ 1.32 _____________ (1) Calculated using the treasury stock method.

HELD-FOR-SALE (Tables)

HELD-FOR-SALE (Tables)	3 Months Ended
HELD-FOR-SALE (Tables)	Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets And Liabilities Held-for-sale	The following table summarizes the assets and liabilities classified as held-for-sale as of March 31, 2023 and December 31, 2022 on the Company’s consolidated balance sheet: March 31, 2023 (1) December 31, 2022 (1) (in millions) Cash and cash equivalents $ 154 $ 159 Broker-dealer related receivables 94 74 Trading securities, at fair value 16 25 Goodwill and other intangible assets ,net 165 175 Other assets (2) 242 129 Total assets held-for-sale $ 671 $ 562 Broker-dealer related payables $ 43 $ 33 Customers related payables 32 10 Other liabilities 83 65 Total liabilities held-for-sale $ 158 $ 108 ____________ (1) The assets and liabilities classified as held-for-sale are reported within our Investment Management & Research segment.

REINSURANCE (Tables)

REINSURANCE (Tables)	3 Months Ended
REINSURANCE (Tables)	Mar. 31, 2023
Reinsurance Disclosures [Abstract]
Schedule Of Effect Of Reinsurance	The following table summarizes the effect of reinsurance. The impact of the transactions described above results in a decrease to reinsurance assumed and an increase in reinsurance ceded. Three Months Ended March 31, 2023 2022 (in millions) Direct premiums $ 290 $ 250 Reinsurance assumed 52 50 Reinsurance ceded (66) (53) Premiums $ 276 $ 247 Direct charges and fee income $ 777 $ 834 Reinsurance ceded (189) (184) Policy charges and fee income $ 588 $ 650 Direct policyholders’ benefits $ 859 $ 917 Reinsurance assumed 36 55 Reinsurance ceded (165) (170) Policyholders’ benefits $ 730 $ 802 Direct interest credited to policyholders’ account balances $ 464 $ 338 Reinsurance ceded (1) (25) Interest credited to policyholders’ account balances $ 463 $ 313
Schedule of Ceded Credit Risk	The following table summarizes the ceded reinsurance GMIB reinsurance contracts, third-party recoverables, amount due to reinsurance and assumed reserves. March 31, 2023 December 31, 2022 (in millions) Ceded Reinsurance: Estimated net fair values of purchased market risk benefits $ 10,676 $ 10,423 Third-party reinsurance recoverables related to insurance contracts 8,453 8,471 Top reinsurers: First Allmerica-GAF 3,933 4,005 Zurich Life Insurance Company, Ltd. 1,401 1,416 RGA Reinsurance Company 1,301 1,272 Ceded group health reserves 48 47 Amount due to reinsurers 1,428 1,533 Top reinsurers: RGA Reinsurance Company 1,175 1,171 First Allmerica-GAF 71 147 Protective Life Insurance Company 103 104 Assumed Reinsurance: Reinsurance assumed reserves $ 694 $ 701

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) $ in Thousands		3 Months Ended		12 Months Ended
ORGANIZATION - Narrative (Details) $ in Thousands	Oct. 03, 2022 USD ($)	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Organization Basis Of Presentation [Line Items]
Number of reportable segments \| segment		6
Assets		$ 261,500,000		$ 252,702,000
Issuance of preferred stock			$ 0
Alliance Bernstein
Organization Basis Of Presentation [Line Items]
Economic interest		61%		61%
Corporate Solutions Life Reinsurance Company \| Alliance Bernstein
Organization Basis Of Presentation [Line Items]
Assets	$ 2,800,000
Direct insurance liabilities ceded	4,100,000
Corporate Solutions Life Reinsurance Company \| Alliance Bernstein \| GMxB derivative features’ liability
Organization Basis Of Presentation [Line Items]
Guarantees	1,200,000
Separate account, liability, ceded	5,300,000
Number of Employees, Total \| Reinsurance Transaction
Organization Basis Of Presentation [Line Items]
Deferred variable annuity	$ 360
Massachusetts Domiciled Insurance Company
Organization Basis Of Presentation [Line Items]
Guaranteed credit rate (as a percent)	3%
Guaranteed credit amount of general account assets	$ 4,000,000
Reinsurance, guaranteed credit amount of separate account assets	$ 5,000,000
Massachusetts Domiciled Insurance Company \| Number of Employees, Total \| Reinsurance Transaction
Organization Basis Of Presentation [Line Items]
Concentration risk, percentage	50%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Effect of Transition Adjustment to Total Equity Resulting (Details) - USD ($) $ in Millions	Jan. 01, 2021	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities		$ 16,738	$ 16,603
Market risk benefits		(15,061)	(15,766)
DAC		$ 6,419	$ 6,369	$ 5,607
Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ (1,313)
Market risk benefits	(4,300)
DAC	1,548			$ 1,409
Unearned revenue liability and sales inducement assets	(166)
Total transition adjustment before taxes	(4,231)
Income taxes	888
Total transition adjustment (net of taxes)	(3,343)
Retained Earnings \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	30
Market risk benefits	(3,398)
DAC	0
Unearned revenue liability and sales inducement assets	0
Total transition adjustment before taxes	(3,368)
Income taxes	707
Total transition adjustment (net of taxes)	(2,661)
Accumulated Other Comprehensive Income (Loss) \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	(1,343)
Market risk benefits	(902)
DAC	1,548
Unearned revenue liability and sales inducement assets	(166)
Total transition adjustment before taxes	(863)
Income taxes	181
Total transition adjustment (net of taxes)	$ (682)

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Balance of and Changes in Liability for Future Policy Benefits (Details) $ in Millions	Dec. 31, 2020 USD ($)
Liability for Future Policy Benefit, Activity [Line Items]
Less: Reinsurance Recoverable	$ (1,896)
Net liability for future policy benefits, after reinsurance recoverable	6,574
Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(356)
Effect of Remeasurement of Liability at Current Single A Rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	1,485
Corporate and Other \| No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(111)
Protection Solutions PFBL \| No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	550
PDR \| No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(230)
Rider Reserves and Term Reinsurance \| No Effect Of Application Of Accounting Standards Update 2018-12
Liability for Future Policy Benefit, Activity [Line Items]
Net liability for future policy benefits, after reinsurance recoverable	(24)
Term \| Protection Solutions
Liability for Future Policy Benefit, Activity [Line Items]
Less: Reinsurance Recoverable	(59)
Net liability for future policy benefits, after reinsurance recoverable	1,924
Term \| Protection Solutions \| Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	0
Term \| Protection Solutions \| Effect of Remeasurement of Liability at Current Single A Rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	560
Payout - Legacy \| Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Less: Reinsurance Recoverable	0
Net liability for future policy benefits, after reinsurance recoverable	3,407
Payout - Legacy \| Individual Retirement \| Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(171)
Payout - Legacy \| Individual Retirement \| Effect of Remeasurement of Liability at Current Single A Rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	531
Group Pension \| Corporate and Other
Liability for Future Policy Benefit, Activity [Line Items]
Less: Reinsurance Recoverable	0
Net liability for future policy benefits, after reinsurance recoverable	780
Group Pension \| Corporate and Other \| Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(85)
Group Pension \| Corporate and Other \| Effect of Remeasurement of Liability at Current Single A Rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	94
Health \| Corporate and Other
Liability for Future Policy Benefit, Activity [Line Items]
Less: Reinsurance Recoverable	(1,837)
Net liability for future policy benefits, after reinsurance recoverable	463
Health \| Corporate and Other \| Adjustment for reversal of balances recorded in Accumulated Other Comprehensive Income
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	(100)
Health \| Corporate and Other \| Effect of Remeasurement of Liability at Current Single A Rate
Liability for Future Policy Benefit, Activity [Line Items]
Effect of changes in cash flow assumptions	$ 300

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Market Risk Benefit, Activity (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk	$ 1,855	$ 668			$ 23,784
As Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					19,525
Effect Of Application Of Accounting Standards Updated 2018-12, Adjustments For Reversal Of Balances Recorded In Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(74)
Effect Of Application Of Accounting Standards Update 2018-12, Cumulative Effect Of Changes In Instrument-Specific Credit Risk
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					968
Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Remaining Difference Between Carrying Amount And Fair Value For MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					3,365
Protection Solutions \| No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				$ (2)
GMxB Core \| Individual Retirement
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk	$ (233)		$ (42)		2,144
GMxB Core \| Individual Retirement \| As Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					2,206
GMxB Core \| Individual Retirement \| Effect Of Application Of Accounting Standards Updated 2018-12, Adjustments For Reversal Of Balances Recorded In Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(4)
GMxB Core \| Individual Retirement \| Effect Of Application Of Accounting Standards Update 2018-12, Cumulative Effect Of Changes In Instrument-Specific Credit Risk
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					505
GMxB Core \| Individual Retirement \| Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Remaining Difference Between Carrying Amount And Fair Value For MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(563)
GMxB Legacy \| Legacy Segment
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					24,404
GMxB Legacy \| Legacy Segment \| As Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					19,891
GMxB Legacy \| Legacy Segment \| Effect Of Application Of Accounting Standards Updated 2018-12, Adjustments For Reversal Of Balances Recorded In Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(70)
GMxB Legacy \| Legacy Segment \| Effect Of Application Of Accounting Standards Update 2018-12, Cumulative Effect Of Changes In Instrument-Specific Credit Risk
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					461
GMxB Legacy \| Legacy Segment \| Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Remaining Difference Between Carrying Amount And Fair Value For MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					4,122
Purchased MRB \| Legacy Segment
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(2,764)
Purchased MRB \| Legacy Segment \| As Previously Reported
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					(2,572)
Purchased MRB \| Legacy Segment \| Effect Of Application Of Accounting Standards Updated 2018-12, Adjustments For Reversal Of Balances Recorded In Accumulated Other Comprehensive Income
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					0
Purchased MRB \| Legacy Segment \| Effect Of Application Of Accounting Standards Update 2018-12, Cumulative Effect Of Changes In Instrument-Specific Credit Risk
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					2
Purchased MRB \| Legacy Segment \| Effect Of Application Of Accounting Standards Update 2018-12, Adjustments For Remaining Difference Between Carrying Amount And Fair Value For MRB
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk					$ (194)
EI \| No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				43
SCS \| No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				21
Group Retirement Equi-Vest \| No Effect Of Application Of Accounting Standards Update 2018-12
Market Risk Benefit [Line Items]
Changes in the instrument-specific credit risk				$ (20)

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Jan. 01, 2021	Dec. 31, 2020
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	$ 6,419	$ 6,369		$ 5,607
Closed Block Liabilities	5,728	5,760
As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				4,198
Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC			$ 1,548	1,409
Closed Block Liabilities				136
Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				3
Term \| Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	356	362		403
Term \| Protection Solutions \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				403
Term \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				0
UL \| Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	177	179		177
UL \| Protection Solutions \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				0
UL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				177
VUL \| Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	910	889		714
VUL \| Protection Solutions \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				0
VUL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				714
IUL \| Protection Solutions
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	185	185		162
IUL \| Protection Solutions \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				0
IUL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				162
GMxB Legacy \| Legacy Segment
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	583	593		667
GMxB Legacy \| Legacy Segment \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				654
GMxB Legacy \| Legacy Segment \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				13
GMxB Core \| Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				1,646
GMxB Core \| Individual Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				1,635
GMxB Core \| Individual Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				11
EI \| Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	156	156		154
EI \| Individual Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				134
EI \| Individual Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				20
IE \| Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	156	148		94
IE \| Individual Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				95
IE \| Individual Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				(1)
SCS \| Individual Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				855
SCS \| Individual Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				645
SCS \| Individual Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				210
EG \| Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	716	710		634
EG \| Group Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				553
EG \| Group Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				81
Momentum \| Group Retirement
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC	$ 87	$ 89		101
Momentum \| Group Retirement \| As Previously Reported
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				79
Momentum \| Group Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
DAC				$ 22

SIGNIFICANT ACCOUNTING POLICI_8

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Deferred Income (Details) - USD ($) $ in Millions	Dec. 31, 2020	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	$ 404
As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	404
Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	0
Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	648
Protection Solutions \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	483
Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	165
GMxB Legacy
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue		$ 195	$ 200	$ 216	$ 222
GMxB Legacy \| Legacy Segment
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	246
GMxB Legacy \| Legacy Segment \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	246
GMxB Legacy \| Legacy Segment \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	0
GMxB Core
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue		$ 134	$ 137	$ 144	$ 147
GMxB Core \| Individual Retirement
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	158
GMxB Core \| Individual Retirement \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	158
GMxB Core \| Individual Retirement \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Sales inducement assets and unearned revenue	0
UL \| Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	60
UL \| Protection Solutions \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	31
UL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	29
VUL \| Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	565
VUL \| Protection Solutions \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	438
VUL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	127
IUL \| Protection Solutions
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	23
IUL \| Protection Solutions \| As Previously Reported
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	14
IUL \| Protection Solutions \| Effect of Modified Retrospective Application Accounting Standards Update 2018-12
Deferred Sale Inducement Cost [Line Items]
Protection solutions unearned revenue liability	$ 9

SIGNIFICANT ACCOUNTING POLICI_9

SIGNIFICANT ACCOUNTING POLICIES - Variable Interest Entities (Details) - USD ($) $ in Millions		Mar. 31, 2023		Dec. 31, 2022		Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Investments		$ 96,223		$ 93,097
Fixed maturities, at fair value using the fair value option	[1]	1,543		1,508
Notes issued by consolidated variable interest entities, at fair value using the fair value option	[1]	1,169		1,150
Unpaid outstanding balance and short-term borrowing		1,400		1,400
Assets		261,500		252,702
Liabilities		255,416		249,106
Redeemable noncontrolling interest		613	[1],[2]	455	[1],[2]	$ 386	$ 468
Variable Interest Entity, Primary Beneficiary \| CLO Warehouse Debt
Variable Interest Entity [Line Items]
Investments		89		85
Investment assets, special purpose entity		88
Consolidated Limited Partnerships
Variable Interest Entity [Line Items]
Assets		925		644
Consolidated Entity \| AB-Sponsored Investment Funds
Variable Interest Entity [Line Items]
Assets		578		581
Liabilities		44		56
Redeemable noncontrolling interest		375		369
Consolidated Entity, Excluding VIE \| AB-Sponsored Investment Funds
Variable Interest Entity [Line Items]
Assets		17		0
Liabilities		0		0
Redeemable noncontrolling interest		2		0
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Investments		2,400		2,400
Assets		257,100		282,500
Variable interest entity, maximum loss exposure		2,400		2,400
Unfunded commitments		1,300		1,300
Non-consolidated Vairable Interest Entities \| AB-Sponsored Investment Funds
Variable Interest Entity [Line Items]
Variable interest entity, maximum loss exposure		9		6
Non-consolidated Vairable Interest Entities \| AB-Sponsored Investment Funds
Variable Interest Entity [Line Items]
Assets		$ 49,000		$ 46,400

[1]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.[2]See Note 15 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.(3) Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)		3 Months Ended		12 Months Ended
INVESTMENTS - Narrative (Details)		Mar. 31, 2023 USD ($) issue	Mar. 31, 2022 USD ($)	Dec. 31, 2027	Dec. 31, 2023	Dec. 31, 2022 USD ($) issue	Dec. 31, 2021 USD ($)
Net Investment Income [Line Items]
Number of positions in unrealized loss position \| issue		4,949				5,209
Debt securities exposure in single issuer greater than stated percentage of total investments		0.90%
Fixed maturities available-for-sale, amortized cost		$ 73,061,000,000				$ 72,991,000,000
12 months or longer, gross unrealized losses		7,411,000,000				5,295,000,000
Allowance for credit losses		139,000,000	$ 53,000,000			129,000,000
Non-accruing loans, carrying value		17,000,000
Separate account equity investment carrying value		46,000,000				39,000,000
Mortgage loans on real estate (net of allowance for credit losses of $139 and $129)	[1]	16,969,000,000				16,481,000,000
Forecast
Net Investment Income [Line Items]
Interest rate of debt				5%	0.35%
Recurring
Net Investment Income [Line Items]
Trading securities, at fair value		828,000,000				677,000,000
Agricultural Mortgage Loans
Net Investment Income [Line Items]
Accrued investment income receivable		72,000,000				71,000,000
Accrued interest, written off		0	0
Allowance for credit losses		6,000,000	6,000,000			6,000,000	$ 5,000,000
Commercial Mortgage Loans
Net Investment Income [Line Items]
Accrued investment income receivable		72,000,000				71,000,000
Accrued interest, written off		0	0
Allowance for credit losses		133,000,000	47,000,000			123,000,000	$ 57,000,000
Non-accruing loans, carrying value						14,000,000
Financing receivable, troubled debt restructuring		56,000,000
Individually Assessed Mortgage Loans
Net Investment Income [Line Items]
Mortgage loans foreclosure probable		0
Allowance for credit losses		$ 0
Real Estate Loan
Net Investment Income [Line Items]
Percentage of mortgage loans on real estate		0.30%
Mortgage Loans
Net Investment Income [Line Items]
Mortgage loans on real estate (net of allowance for credit losses of $139 and $129)		$ 2,000,000				2,000,000
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable		616,000,000				591,000,000
Accrued interest, written off		0	$ 0
Fixed maturities available-for-sale, amortized cost		73,100,000,000				73,000,000,000
Fixed maturities \| Non-Investment Grade \| Other Than Investment Grade
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost basis other than investment grade		$ 2,800,000,000				$ 2,900,000,000
Percentage of available for sale securities		3.80%				4%
Unrealized loss on available for sale securities		$ 166,000,000				$ 208,000,000
Public Corporate
Net Investment Income [Line Items]
Exposure in single issuer of total investments		$ 387,000,000				$ 327,000,000
Debt securities exposure in single issuer of total investments, percentage		7.10%				10.40%
Fixed maturities available-for-sale, amortized cost		$ 51,030,000,000				$ 50,712,000,000
12 months or longer, gross unrealized losses		$ 5,683,000,000				$ 4,536,000,000

[1]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 73,061		$ 72,991
Allowance for Credit Losses	18		24
Gross Unrealized Gains	198		106
Gross Unrealized Losses	8,176		9,712
Fair Value	65,065		63,361
Amortized Cost (Less Allowance for Credit Losses)
Due in one year or less	1,551
Due in years two through five	15,798
Due in years six through ten	16,462
Due after ten years	25,858
Subtotal	59,669
Amortized cost	73,043
Fair Value
Due in one year or less	1,533
Due in years two through five	15,107
Due in years six through ten	15,023
Due after ten years	20,972
Subtotal	52,635
Fair Value	65,065		63,361
Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments
Proceeds from sales	825	$ 7,391
Gross gains on sales	2	29
Gross losses on sales	(26)	(364)
Net (increase) decrease in allowance for credit and intent to sell losses	56	(1)
Fixed Maturities - Credit Loss Impairments
Balance, beginning of period	36	44
Previously recognized impairments on securities that matured, paid, prepaid or sold	3	2
Recognized impairments on securities impaired to fair value this period	52	0
Credit losses recognized this period on securities for which credit losses were not previously recognized	3	0
Additional credit losses this period on securities previously impaired	1	1
Increases due to passage of time on previously recorded credit losses	0	0
Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior)	0	0
Balance, end of period	89	$ 43
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	51,030		50,712
Allowance for Credit Losses	18		24
Gross Unrealized Gains	167		89
Gross Unrealized Losses	6,086		7,206
Fair Value	45,093		43,571
Fair Value
Fair Value	45,093		43,571
U.S. government, agencies and authorities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,991		7,054
Allowance for Credit Losses	0		0
Gross Unrealized Gains	3		1
Gross Unrealized Losses	925		1,218
Fair Value	6,069		5,837
Fair Value
Fair Value	6,069		5,837
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	638		609
Allowance for Credit Losses	0		0
Gross Unrealized Gains	12		7
Gross Unrealized Losses	75		89
Fair Value	575		527
Fair Value
Fair Value	575		527
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,028		985
Allowance for Credit Losses	0		0
Gross Unrealized Gains	3		2
Gross Unrealized Losses	133		151
Fair Value	898		836
Fair Value
Fair Value	898		836
Residential Mortgage-Backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	930		908
Allowance for Credit Losses	0		0
Gross Unrealized Gains	1		1
Gross Unrealized Losses	84		87
Fair Value	847		822
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	930
Fair Value
Without single maturity date	847
Fair Value	847		822
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,548		8,859
Allowance for Credit Losses	0		0
Gross Unrealized Gains	9		4
Gross Unrealized Losses	315		373
Fair Value	8,242		8,490
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	8,548
Fair Value
Without single maturity date	8,242
Fair Value	8,242		8,490
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,856		3,823
Allowance for Credit Losses	0		0
Gross Unrealized Gains	0		0
Gross Unrealized Losses	558		588
Fair Value	3,298		3,235
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	3,856
Fair Value
Without single maturity date	3,298
Fair Value	3,298		3,235
Redeemable Preferred Stock
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	40		41
Allowance for Credit Losses	0		0
Gross Unrealized Gains	3		2
Gross Unrealized Losses	0		0
Fair Value	43		43
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	40
Fair Value
Without single maturity date	43
Fair Value	$ 43		$ 43

INVESTMENTS - Net Unrealized Ga

INVESTMENTS - Net Unrealized Gain (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	$ 3,141	$ 11,927
End of year	5,471	9,456
Unrealized Investment Gains Losses All Other \| Net Unrealized Gains (Losses) on Investments \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	(9,606)	4,809
Net investment gains (losses) arising during the period	1,555	(6,425)
Included in net income (loss)	80	334
Other	0	0
Impact of net unrealized investment gains (losses)	0	0
End of year	(7,978)	(1,287)
Unrealized Investment Gains Losses All Other \| Policyholders’ Liabilities \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	41	(169)
Impact of net unrealized investment gains (losses)	(8)	173
End of year	33	4
Unrealized Investment Gains Losses All Other \| Deferred Income Tax Asset (Liability) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	440	(974)
Other	0
Impact of net unrealized investment gains (losses)	(342)	1,242
End of year	99	269
Unrealized Investment Gains Losses All Other \| AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
Beginning of year	(9,125)	3,666
Net investment gains (losses) arising during the period	1,555	(6,425)
Included in net income (loss)	80	334
Other	0	0
Impact of net unrealized investment gains (losses)	(350)	1,415
End of year	(7,846)	(1,014)
Net Unrealized Gains (Losses) On Investments Excluding Credit Losses \| Net Unrealized Gains (Losses) on Investments \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	(7,971)	(1,282)
Net Unrealized Gains (Losses) On Investments Excluding Credit Losses \| Policyholders’ Liabilities \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent \| Fixed maturities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	33	4
Net Unrealized Gains (Losses) On Investments Excluding Credit Losses \| Deferred Income Tax Asset (Liability) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent \| Fixed maturities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	98	268
Net Unrealized Gains (Losses) On Investments Excluding Credit Losses \| AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	(7,840)	(1,010)
Net Unrealized Gains (Losses) On Investments Including Credit Losses \| Net Unrealized Gains (Losses) on Investments \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	(7)	(5)
Net Unrealized Gains (Losses) On Investments Including Credit Losses \| Policyholders’ Liabilities \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent \| Fixed maturities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	0	0
Net Unrealized Gains (Losses) On Investments Including Credit Losses \| Deferred Income Tax Asset (Liability) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent \| Fixed maturities
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	1	1
Net Unrealized Gains (Losses) On Investments Including Credit Losses \| AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) \| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
Debt Securities, Available-for-sale, Net Unrealized Investments [Roll Forward]
End of year	$ (6)	$ (4)

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	$ 14,215	$ 39,169
Less than 12 months, gross unrealized losses	763	4,415
12 months or longer, fair value	43,363	20,816
12 months or longer, gross unrealized losses	7,411	5,295
Total fair value	57,578	59,985
Total gross unrealized losses	8,174	9,710
Corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	8,624	24,580
Less than 12 months, gross unrealized losses	401	2,668
12 months or longer, fair value	30,610	16,534
12 months or longer, gross unrealized losses	5,683	4,536
Total fair value	39,234	41,114
Total gross unrealized losses	6,084	7,204
U.S. government, agencies and authorities
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	3,271	5,564
Less than 12 months, gross unrealized losses	277	1,200
12 months or longer, fair value	2,584	204
12 months or longer, gross unrealized losses	648	18
Total fair value	5,855	5,768
Total gross unrealized losses	925	1,218
States and political subdivisions
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	36	130
Less than 12 months, gross unrealized losses	2	25
12 months or longer, fair value	269	173
12 months or longer, gross unrealized losses	73	64
Total fair value	305	303
Total gross unrealized losses	75	89
Foreign governments
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	106	349
Less than 12 months, gross unrealized losses	6	42
12 months or longer, fair value	645	417
12 months or longer, gross unrealized losses	127	109
Total fair value	751	766
Total gross unrealized losses	133	151
RMBS
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	295	671
Less than 12 months, gross unrealized losses	11	49
12 months or longer, fair value	517	83
12 months or longer, gross unrealized losses	73	38
Total fair value	812	754
Total gross unrealized losses	84	87
Asset-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	1,458	6,298
Less than 12 months, gross unrealized losses	36	230
12 months or longer, fair value	5,933	1,765
12 months or longer, gross unrealized losses	279	143
Total fair value	7,391	8,063
Total gross unrealized losses	315	373
Commercial mortgage-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less than twelve months, fair value	425	1,577
Less than 12 months, gross unrealized losses	30	201
12 months or longer, fair value	2,805	1,640
12 months or longer, gross unrealized losses	528	387
Total fair value	3,230	3,217
Total gross unrealized losses	$ 558	$ 588

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 129
Balance, end of period	139	$ 53
Commercial Mortgage Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	123	57
Current-period provision for expected credit losses	10	(10)
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	10	(10)
Balance, end of period	133	47
Agricultural Mortgage Loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	6	5
Current-period provision for expected credit losses	0	1
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	0	1
Balance, end of period	$ 6	$ 6

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	$ 17,108	$ 16,610
Total	16,998	16,594
Non-accruing Loans	110	16
Non-accruing Loans with No Allowance	3	0
Interest Income on Non-accruing Loans	1	0
Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	105	77
30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	79	59
60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	11	5
90 Days Or Greater
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	15	13
Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	16,893	16,517
Commercial Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	480	3,272
Fiscal year before current fiscal year	3,273	2,114
Two years before current fiscal year	2,113	1,369
Three years before current fiscal year	1,369	642
Four years before current fiscal year	640	1,201
Prior	6,237	5,060
Revolving Loans Amortized Cost Basis	296	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	128	34
Total	14,536	14,020
Total	14,445	14,020
Non-accruing Loans	91	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	1	0
Commercial Mortgage Loans \| Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	62	56
Commercial Mortgage Loans \| 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	62	56
Commercial Mortgage Loans \| 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans \| 90 Days Or Greater
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans \| Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	14,383	13,964
Commercial Mortgage Loans \| Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	771
Fiscal year before current fiscal year	783	1,159
Two years before current fiscal year	1,160	1,113
Three years before current fiscal year	1,113	102
Four years before current fiscal year	102	571
Prior	2,634	1,923
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	5,792	5,639
Commercial Mortgage Loans \| 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	158
Fiscal year before current fiscal year	94	215
Two years before current fiscal year	180	164
Three years before current fiscal year	164	197
Four years before current fiscal year	288	186
Prior	605	482
Revolving Loans Amortized Cost Basis	242	279
Revolving Loans Converted to Term Loans Amortized Cost Basis	94	0
Total	1,667	1,681
Commercial Mortgage Loans \| 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	337
Fiscal year before current fiscal year	400	390
Two years before current fiscal year	490	32
Three years before current fiscal year	32	153
Four years before current fiscal year	195	176
Prior	1,234	1,175
Revolving Loans Amortized Cost Basis	0	4
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,351	2,267
Commercial Mortgage Loans \| 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	307	1,041
Fiscal year before current fiscal year	1,041	259
Two years before current fiscal year	194	0
Three years before current fiscal year	0	92
Four years before current fiscal year	0	73
Prior	854	917
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,396	2,382
Commercial Mortgage Loans \| 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	166	507
Fiscal year before current fiscal year	496	43
Two years before current fiscal year	41	60
Three years before current fiscal year	60	98
Four years before current fiscal year	55	160
Prior	840	492
Revolving Loans Amortized Cost Basis	54	45
Revolving Loans Converted to Term Loans Amortized Cost Basis	34	34
Total	1,746	1,439
Commercial Mortgage Loans \| Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	7	458
Fiscal year before current fiscal year	459	48
Two years before current fiscal year	48	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	35
Prior	70	71
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	584	612
Commercial Mortgage Loans \| 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	624
Fiscal year before current fiscal year	679	130
Two years before current fiscal year	130	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	119
Prior	1,466	1,259
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,275	2,132
Commercial Mortgage Loans \| 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	237	2,285
Fiscal year before current fiscal year	2,230	1,569
Two years before current fiscal year	1,568	906
Three years before current fiscal year	906	313
Four years before current fiscal year	312	623
Prior	2,911	2,254
Revolving Loans Amortized Cost Basis	268	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	94	0
Total	8,526	8,278
Commercial Mortgage Loans \| 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	243	363
Fiscal year before current fiscal year	364	415
Two years before current fiscal year	382	463
Three years before current fiscal year	463	329
Four years before current fiscal year	328	424
Prior	1,635	1,314
Revolving Loans Amortized Cost Basis	28	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	34	34
Total	3,477	3,342
Commercial Mortgage Loans \| 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	33	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	35
Prior	225	233
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	258	268
Agricultural Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	21	353
Fiscal year before current fiscal year	352	367
Two years before current fiscal year	364	450
Three years before current fiscal year	445	197
Four years before current fiscal year	195	215
Prior	1,195	1,008
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,572	2,590
Total	2,553	2,574
Non-accruing Loans	19	16
Non-accruing Loans with No Allowance	3	0
Interest Income on Non-accruing Loans	0	0
Agricultural Mortgage Loans \| Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	43	21
Agricultural Mortgage Loans \| 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	17	3
Agricultural Mortgage Loans \| 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	11	5
Agricultural Mortgage Loans \| 90 Days Or Greater
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	15	13
Agricultural Mortgage Loans \| Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	2,510	2,553
Agricultural Mortgage Loans \| Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	2	51
Fiscal year before current fiscal year	51	40
Two years before current fiscal year	40	62
Three years before current fiscal year	61	21
Four years before current fiscal year	21	12
Prior	189	193
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	364	379
Agricultural Mortgage Loans \| 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	16
Fiscal year before current fiscal year	16	58
Two years before current fiscal year	57	35
Three years before current fiscal year	33	24
Four years before current fiscal year	24	14
Prior	67	51
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	197	198
Agricultural Mortgage Loans \| 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	6	69
Fiscal year before current fiscal year	69	42
Two years before current fiscal year	31	111
Three years before current fiscal year	110	18
Four years before current fiscal year	18	19
Prior	213	196
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	447	455
Agricultural Mortgage Loans \| 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	4	107
Fiscal year before current fiscal year	107	147
Two years before current fiscal year	156	177
Three years before current fiscal year	177	98
Four years before current fiscal year	97	99
Prior	391	298
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	932	926
Agricultural Mortgage Loans \| 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	5	91
Fiscal year before current fiscal year	90	80
Two years before current fiscal year	80	61
Three years before current fiscal year	60	30
Four years before current fiscal year	29	60
Prior	310	257
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	574	579
Agricultural Mortgage Loans \| Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	4	19
Fiscal year before current fiscal year	19	0
Two years before current fiscal year	0	4
Three years before current fiscal year	4	6
Four years before current fiscal year	6	11
Prior	25	13
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	58	53
Agricultural Mortgage Loans \| 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	10	163
Fiscal year before current fiscal year	164	182
Two years before current fiscal year	182	228
Three years before current fiscal year	237	129
Four years before current fiscal year	128	132
Prior	847	725
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	1,568	1,559
Agricultural Mortgage Loans \| 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	11	190
Fiscal year before current fiscal year	188	185
Two years before current fiscal year	182	222
Three years before current fiscal year	208	68
Four years before current fiscal year	67	83
Prior	332	267
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	988	1,015
Agricultural Mortgage Loans \| 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	16	16
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	16	16
Agricultural Mortgage Loans \| 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	0	0
Mortgages Loan
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	501	3,625
Fiscal year before current fiscal year	3,625	2,481
Two years before current fiscal year	2,477	1,819
Three years before current fiscal year	1,814	839
Four years before current fiscal year	835	1,416
Prior	7,432	6,068
Revolving Loans Amortized Cost Basis	296	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	128	34
Total	17,108	16,610
Mortgages Loan \| Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	2	822
Fiscal year before current fiscal year	834	1,199
Two years before current fiscal year	1,200	1,175
Three years before current fiscal year	1,174	123
Four years before current fiscal year	123	583
Prior	2,823	2,116
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	6,156	6,018
Mortgages Loan \| 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	174
Fiscal year before current fiscal year	110	273
Two years before current fiscal year	237	199
Three years before current fiscal year	197	221
Four years before current fiscal year	312	200
Prior	672	533
Revolving Loans Amortized Cost Basis	242	279
Revolving Loans Converted to Term Loans Amortized Cost Basis	94	0
Total	1,864	1,879
Mortgages Loan \| 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	6	406
Fiscal year before current fiscal year	469	432
Two years before current fiscal year	521	143
Three years before current fiscal year	142	171
Four years before current fiscal year	213	195
Prior	1,447	1,371
Revolving Loans Amortized Cost Basis	0	4
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	2,798	2,722
Mortgages Loan \| 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	311	1,148
Fiscal year before current fiscal year	1,148	406
Two years before current fiscal year	350	177
Three years before current fiscal year	177	190
Four years before current fiscal year	97	172
Prior	1,245	1,215
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,328	3,308
Mortgages Loan \| 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	171	598
Fiscal year before current fiscal year	586	123
Two years before current fiscal year	121	121
Three years before current fiscal year	120	128
Four years before current fiscal year	84	220
Prior	1,150	749
Revolving Loans Amortized Cost Basis	54	45
Revolving Loans Converted to Term Loans Amortized Cost Basis	34	34
Total	2,320	2,018
Mortgages Loan \| Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	11	477
Fiscal year before current fiscal year	478	48
Two years before current fiscal year	48	4
Three years before current fiscal year	4	6
Four years before current fiscal year	6	46
Prior	95	84
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	642	665
Mortgages Loan \| 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	10	787
Fiscal year before current fiscal year	843	312
Two years before current fiscal year	312	228
Three years before current fiscal year	237	129
Four years before current fiscal year	128	251
Prior	2,313	1,984
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	3,843	3,691
Mortgages Loan \| 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	248	2,475
Fiscal year before current fiscal year	2,418	1,754
Two years before current fiscal year	1,750	1,128
Three years before current fiscal year	1,114	381
Four years before current fiscal year	379	706
Prior	3,243	2,521
Revolving Loans Amortized Cost Basis	268	328
Revolving Loans Converted to Term Loans Amortized Cost Basis	94	0
Total	9,514	9,293
Mortgages Loan \| 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	243	363
Fiscal year before current fiscal year	364	415
Two years before current fiscal year	382	463
Three years before current fiscal year	463	329
Four years before current fiscal year	328	424
Prior	1,651	1,330
Revolving Loans Amortized Cost Basis	28	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	34	34
Total	3,493	3,358
Mortgages Loan \| 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current Fiscal Year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	33	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	35
Prior	225	233
Revolving Loans Amortized Cost Basis	0	0
Revolving Loans Converted to Term Loans Amortized Cost Basis	0	0
Total	$ 258	$ 268

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ (3)	$ (40)
Net investment gains (losses) recognized on securities sold during the period	0	(13)
Unrealized and realized gains (losses) on equity securities	$ (3)	$ (53)

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 35	$ (94)
Net investment gains (losses) recognized on securities sold during the period	(1)	2
Unrealized and realized gains (losses) on trading securities	34	(92)
Interest and dividend income from trading securities	5	16
Net investment income (loss) from trading securities	$ 39	$ (76)

INVESTMENTS - Fixed Maturitie_2

INVESTMENTS - Fixed Maturities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ 4	$ (5)
Net investment gains (losses) recognized on securities sold during the period	(2)	6
Unrealized and realized gains (losses) from fixed maturities	2	1
Interest and dividend income from fixed maturities	7	16
Net investment income (loss) from fixed maturities	$ 9	$ 17

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Net derivatives gain (losses)	$ (841)	$ 159
Net investment income (loss)	990	804
Interest credited to policyholders’ account balances	(463)	(313)
Designated for Hedge Accounting \| Cash Flow Hedge
Derivatives, Fair Value [Line Items]
Notional Amount	2,535		$ 2,386
Derivative Assets	98		99
Derivative Liabilities	422		379
Net derivatives gain (losses)	3	(18)
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
Amount reclassified from AOCI to income	(3)	(7)
Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	84,069		71,455
Derivative Assets	9,310		8,045
Derivative Liabilities	8,326		8,113
Net derivatives gain (losses)	767	(145)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Currency swaps \| Designated for Hedge Accounting \| Cash Flow Hedge
Derivatives, Fair Value [Line Items]
Notional Amount	1,580		1,431
Derivative Assets	98		99
Derivative Liabilities	87		85
Net derivatives gain (losses)	7	(4)
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
Amount reclassified from AOCI to income	25	13
Currency swaps \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	548		397
Derivative Assets	4		4
Derivative Liabilities	10		13
Net derivatives gain (losses)	(10)	5
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Swaps \| Designated for Hedge Accounting \| Cash Flow Hedge
Derivatives, Fair Value [Line Items]
Notional Amount	955		955
Derivative Assets	0		0
Derivative Liabilities	335		294
Net derivatives gain (losses)	(4)	(14)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	(28)	(20)
Swaps \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	1,980		1,515
Derivative Assets	17		0
Derivative Liabilities	92		166
Net derivatives gain (losses)	48	(149)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Futures \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	5,515		5,151
Derivative Assets	0		2
Derivative Liabilities	5		0
Net derivatives gain (losses)	(143)	58
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Swaps \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	12,281		11,188
Derivative Assets	58		39
Derivative Liabilities	9		9
Net derivatives gain (losses)	(605)	734
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Options \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	51,196		40,122
Derivative Assets	8,814		7,583
Derivative Liabilities	2,955		3,412
Net derivatives gain (losses)	1,501	(284)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Futures \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	12,191		12,693
Derivative Assets	0		0
Derivative Liabilities	0		0
Net derivatives gain (losses)	(22)	(512)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Credit default swaps \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	321		327
Derivative Assets	12		18
Derivative Liabilities	7		9
Net derivatives gain (losses)	(2)	2
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Currency forwards \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	37		62
Derivative Assets	14		31
Derivative Liabilities	15		32
Net derivatives gain (losses)	0	1
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Margin \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	242		226
Derivative Liabilities	0		0
Net derivatives gain (losses)	0	0
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Collateral \| Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	149		142
Derivative Liabilities	5,233		4,472
Net derivatives gain (losses)	0	0
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
SCS, SIO, MSO and IUL Indexed Features
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	0		0
Derivative Liabilities	6,063		4,164
Net derivatives gain (losses)	(1,611)	322
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Embedded Derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	0		0
Derivative Liabilities	6,063		4,164
Net derivatives gain (losses)	(1,611)	322
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
Amount reclassified from AOCI to income	0	0
Derivative Instruments Including Embedded Derivative
Derivatives, Fair Value [Line Items]
Notional Amount	86,604		73,841
Derivative Assets	9,408		8,144
Derivative Liabilities	14,811		$ 12,656
Net derivatives gain (losses)	(841)	159
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
Amount reclassified from AOCI to income	$ (3)	$ (7)

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	$ (841)	$ 159
Net investment income (loss)	990	804
Interest credited to policyholders’ account balances	(463)	(313)
SCS, SIO, MSO and IUL Indexed Features
Derivatives, Fair Value [Line Items]
Notional Amount	0		$ 0
Derivative Assets	0		0
Derivative Liabilities	6,063		4,164
Net derivative gains (losses)	(1,611)	322
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Embedded Derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	0		0
Derivative Liabilities	6,063		4,164
Net derivative gains (losses)	(1,611)	322
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Derivative Instruments Including Embedded Derivative
Derivatives, Fair Value [Line Items]
Notional Amount	86,604		73,841
Derivative Assets	9,408		8,144
Derivative Liabilities	14,811		12,656
Net derivative gains (losses)	(841)	159
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
AOCI	(3)	(7)
Not Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	84,069		71,455
Derivative Assets	9,310		8,045
Derivative Liabilities	8,326		8,113
Net derivative gains (losses)	767	(145)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	548		397
Derivative Assets	4		4
Derivative Liabilities	10		13
Net derivative gains (losses)	(10)	5
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	1,980		1,515
Derivative Assets	17		0
Derivative Liabilities	92		166
Net derivative gains (losses)	48	(149)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Futures
Derivatives, Fair Value [Line Items]
Notional Amount	5,515		5,151
Derivative Assets	0		2
Derivative Liabilities	5		0
Net derivative gains (losses)	(143)	58
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	12,281		11,188
Derivative Assets	58		39
Derivative Liabilities	9		9
Net derivative gains (losses)	(605)	734
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Options
Derivatives, Fair Value [Line Items]
Notional Amount	51,196		40,122
Derivative Assets	8,814		7,583
Derivative Liabilities	2,955		3,412
Net derivative gains (losses)	1,501	(284)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Futures
Derivatives, Fair Value [Line Items]
Notional Amount	12,191		12,693
Derivative Assets	0		0
Derivative Liabilities	0		0
Net derivative gains (losses)	(22)	(512)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Credit default swaps
Derivatives, Fair Value [Line Items]
Notional Amount	321		327
Derivative Assets	12		18
Derivative Liabilities	7		9
Net derivative gains (losses)	(2)	2
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Currency forwards
Derivatives, Fair Value [Line Items]
Notional Amount	37		62
Derivative Assets	14		31
Derivative Liabilities	15		32
Net derivative gains (losses)	0	1
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Margin
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	242		226
Derivative Liabilities	0		0
Net derivative gains (losses)	0	0
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Not Designated for Hedge Accounting \| Collateral
Derivatives, Fair Value [Line Items]
Notional Amount	0		0
Derivative Assets	149		142
Derivative Liabilities	5,233		4,472
Net derivative gains (losses)	0	0
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	0	0
Cash Flow Hedge \| Designated for Hedge Accounting
Derivatives, Fair Value [Line Items]
Notional Amount	2,535		2,386
Derivative Assets	98		99
Derivative Liabilities	422		379
Net derivative gains (losses)	3	(18)
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
AOCI	(3)	(7)
Cash Flow Hedge \| Designated for Hedge Accounting \| Currency swaps
Derivatives, Fair Value [Line Items]
Notional Amount	1,580		1,431
Derivative Assets	98		99
Derivative Liabilities	87		85
Net derivative gains (losses)	7	(4)
Net investment income (loss)	3	0
Interest credited to policyholders’ account balances	(34)	(18)
AOCI	25	13
Cash Flow Hedge \| Designated for Hedge Accounting \| Swaps
Derivatives, Fair Value [Line Items]
Notional Amount	955		955
Derivative Assets	0		0
Derivative Liabilities	335		$ 294
Net derivative gains (losses)	(4)	(14)
Net investment income (loss)	0	0
Interest credited to policyholders’ account balances	0	0
AOCI	$ (28)	$ (20)

DERIVATIVES - Rollforward for C

DERIVATIVES - Rollforward for Cash Flows Hedges in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ 1,401
Ending Balance, March 31	3,754
Cash Flow Hedges Recognized in AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	22	$ (208)
Amount recorded in AOCI	(44)	(42)
Amount reclassified from AOCI to income	41	35
Ending Balance, March 31	19	(215)
Cash Flow Hedges Recognized in AOCI \| Currency swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(7)	(3)
Amount reclassified from AOCI to income	32	16
Cash Flow Hedges Recognized in AOCI \| Interest swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(37)	(39)
Amount reclassified from AOCI to income	$ 9	$ 19

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 5,200	$ 4,500
Cash and securities collateral	149	142
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirement	258	247
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirement	74	113
Euro Stoxx, FTSE100, Topix, ASX200 and EAFE Indices
Derivative [Line Items]
Initial margin requirement	$ 16	$ 16

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivatives
Assets
Gross Amount Recognized	$ 9,408	$ 8,143
Gross Amount Offset in the Balance Sheets	7,783	7,047
Net Amount Presented in the Balance Sheets	1,625	1,096
Gross amount not offset in the balance sheets	(945)	(848)
Derivative asset, including not subject to master netting arrangement, after offset and deduction, total	680	248
Liabilities
Gross Amount Recognized	7,802	7,645
Gross Amount Offset in the Balance Sheets	7,783	7,047
Net Amount Presented in the Balance Sheets	19	598
Gross amount not offset in the balance sheets	0	0
Net Amount	19	598
Other financial assets
Assets
Gross Amount Recognized	2,986	2,789
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	2,986	2,789
Gross amount not offset in the balance sheets	0	0
Derivative asset, including not subject to master netting arrangement, after offset and deduction, total	2,986	2,789
Other invested assets
Assets
Gross Amount Recognized	12,394	10,932
Gross Amount Offset in the Balance Sheets	7,783	7,047
Net Amount Presented in the Balance Sheets	4,611	3,885
Gross amount not offset in the balance sheets	(945)	(848)
Derivative asset, including not subject to master netting arrangement, after offset and deduction, total	3,666	3,037
Other financial liabilities
Liabilities
Gross Amount Recognized	6,277	6,510
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	6,277	6,510
Gross amount not offset in the balance sheets	0	0
Net Amount	6,277	6,510
Other liabilities
Liabilities
Gross Amount Recognized	14,079	14,155
Gross Amount Offset in the Balance Sheets	7,783	7,047
Net Amount Presented in the Balance Sheets	6,296	7,108
Gross amount not offset in the balance sheets	0	0
Net Amount	$ 6,296	$ 7,108

CLOSED BLOCK - Closed Block Sum

CLOSED BLOCK - Closed Block Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other	$ 5,626	$ 5,692
Policyholder dividend obligation	0	0
Other liabilities	102	68
Total Closed Block liabilities	5,728	5,760
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $3,117 and $3,171) (allowance for credit losses of $0 and $0)	2,945	2,948
Mortgage loans on real estate (net of allowance for credit losses of $5 and $4)	1,647	1,645
Policy loans	561	569
Cash and other invested assets	2	0
Other assets	201	187
Total assets designated to the Closed Block	5,356	5,349
Excess of Closed Block liabilities over assets designated to the Closed Block	372	411
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $36 and $47	(136)	(177)
Maximum future earnings to be recognized from Closed Block assets and liabilities	236	234
Fixed maturity available for sale, amortized cost	3,117	3,171
Fixed maturities available-for-sale, allowance for credit losses	0	0
Mortgage loans, credit losses	(5)	(4)
Unrealized investment gains (losses)	0	0
Policyholder dividend obligation	0	0
Closed block operations, income taxes	$ 36	$ 47

CLOSED BLOCK - Closed Block Rev

CLOSED BLOCK - Closed Block Revenues and Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues:
Premiums and other income	$ 30	$ 33
Net investment income (loss)	51	58
Investment gains (losses), net	0	1
Total revenues	81	92
Benefits and Other Deductions:
Policyholders’ benefits and dividends	83	76
Other operating costs and expenses	0	0
Total benefits and other deductions	83	76
Net income (loss), before income taxes	(2)	16
Income tax (expense) benefit	(1)	(2)
Net income (loss)	$ (3)	$ 14

DAC AND OTHER DEFERRED ASSETS_3

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	$ 6,369
Balance, end of year	6,419
Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	6,342	$ 6,084
Capitalization	202	209
Amortization	152	141
Balance, end of year	6,392	6,152
Term \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	362	385
Capitalization	4	4
Amortization	10	10
Balance, end of year	356	379
UL \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	179	180
Capitalization	1	3
Amortization	3	3
Balance, end of year	177	180
VUL \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	889	799
Capitalization	35	36
Amortization	14	12
Balance, end of year	910	823
IUL \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	185	180
Capitalization	3	4
Amortization	3	2
Balance, end of year	185	182
GMxB Core \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	1,625	1,653
Capitalization	19	31
Amortization	35	33
Balance, end of year	1,609	1,651
EI \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	156	156
Capitalization	3	3
Amortization	3	3
Balance, end of year	156	156
IE \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	148	121
Capitalization	11	10
Amortization	3	4
Balance, end of year	156	127
SCS \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	1,279	1,070
Capitalization	101	88
Amortization	47	40
Balance, end of year	1,333	1,118
GMxB Legacy \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	593	631
Capitalization	6	8
Amortization	16	16
Balance, end of year	583	623
EG \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	710	677
Capitalization	16	18
Amortization	10	10
Balance, end of year	716	685
Momentum \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	89	94
Capitalization	3	4
Amortization	5	5
Balance, end of year	87	93
CB \| Operating Segments
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Balance beginning of the period	127	138
Capitalization	0	0
Amortization	3	3
Balance, end of year	$ 124	135
Other
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Amortization		$ (2)

DAC AND OTHER DEFERRED ASSETS_4

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - DAC Credits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
GMxB Core
Changes in the deferred asset for contractholder bonus interest credits
Balance, beginning of year	$ 137	$ 147
Amortization	(3)	(3)
Balance, end of year	134	144
GMxB Legacy
Changes in the deferred asset for contractholder bonus interest credits
Balance, beginning of year	200	222
Amortization	(5)	(6)
Balance, end of year	195	216
UL
Changes in unearned revenue liability
Balance beginning of the period	95	80
Capitalization	5	5
Amortization	(2)	(1)
Balance, end of the period	98	84
VUL
Changes in unearned revenue liability
Balance beginning of the period	684	619
Capitalization	27	25
Amortization	(10)	(10)
Balance, end of the period	701	634
IUL
Changes in unearned revenue liability
Balance beginning of the period	157	94
Capitalization	17	18
Amortization	(3)	(2)
Balance, end of the period	$ 171	$ 110

DAC AND OTHER DEFERRED ASSETS_5

DAC AND OTHER DEFERRED ASSETS/LIABILITIES - Reconciliation of DAC (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 6,419	$ 6,369	$ 5,607
Term \| Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	356	362	403
UL \| Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	177	179	177
IUL \| Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	185	185	162
GMxB Core \| Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,609	1,625
EI \| Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	156	156	154
IE \| Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	156	148	94
SCS \| Individual Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	1,333	1,279
GMxB Legacy \| Legacy Segment
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	583	593	667
EG \| Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	716	710	634
Momentum \| Group Retirement
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	87	89	101
CB \| Corporate and Other
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	124	127
Others \| Corporate and Other
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	27	27
VUL \| Protection Solutions
Deferred Policy Acquisition Cost [Line Items]
Deferred policy acquisition costs	$ 910	$ 889	$ 714

FAIR VALUE DISCLOSURES - Assets

FAIR VALUE DISCLOSURES - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturities, AFS at fair value		$ 65,065	$ 63,361
Fixed maturities, at fair value using the fair value option	[1]	1,543	1,508
Amounts due from reinsurer		10,676	10,423
Liabilities:
Notes issued by consolidated variable interest entity, fair value option	[1]	1,169	1,150
Short-term debt		751	759
Accrued interest payable for notes issued by consolidated variable interest entity		17	15
Carrying Value \| Other liabilities
Investments:
Other equity investments (6)		17	12
Carrying Value \| CLO Warehouse Debt
Liabilities:
Short-term debt		231	239
U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS at fair value		6,069	5,837
States and political subdivisions
Investments:
Fixed maturities, AFS at fair value		575	527
Foreign governments
Investments:
Fixed maturities, AFS at fair value		898	836
RMBS
Investments:
Fixed maturities, AFS at fair value		847	822
Asset-backed
Investments:
Fixed maturities, AFS at fair value		8,242	8,490
Commercial mortgage-backed
Investments:
Fixed maturities, AFS at fair value		3,298	3,235
Redeemable preferred stock
Investments:
Fixed maturities, AFS at fair value		43	43
Recurring
Investments:
Fixed maturities, AFS at fair value		65,065	63,361
Fixed maturities, at fair value using the fair value option		1,543	1,508
Other equity investments (6)		707	723
Trading securities, at fair value		828	677
Other invested assets:		7,225	5,229
Cash equivalents		3,734	2,887
Segregated securities		1,055	1,522
Amounts due from reinsurer		10,676	10,423
GMIB reinsurance contracts fair value disclosure		629	490
Separate accounts assets		119,139	114,181
Total Assets		210,601	201,001
Liabilities:
Notes issued by consolidated variable interest entity, fair value option		1,383	1,374
Contingent payment arrangements		248	247
Total Liabilities		22,771	21,573
Recurring \| Corporate
Investments:
Fixed maturities, AFS at fair value		45,093	43,571
Recurring \| U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS at fair value		6,069	5,837
Recurring \| States and political subdivisions
Investments:
Fixed maturities, AFS at fair value		575	527
Recurring \| Foreign governments
Investments:
Fixed maturities, AFS at fair value		898	836
Recurring \| RMBS
Investments:
Fixed maturities, AFS at fair value		847	822
Recurring \| Asset-backed
Investments:
Fixed maturities, AFS at fair value		8,242	8,490
Recurring \| Commercial mortgage-backed
Investments:
Fixed maturities, AFS at fair value		3,298	3,235
Recurring \| Redeemable preferred stock
Investments:
Fixed maturities, AFS at fair value		43	43
Recurring \| Short-term investments
Investments:
Other invested assets:		1,170	943
Recurring \| Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:		551	529
Recurring \| Swaps
Investments:
Other invested assets:		(355)	(425)
Recurring \| Credit default swaps
Investments:
Other invested assets:		5	9
Recurring \| Futures
Investments:
Other invested assets:		(5)	2
Recurring \| Options
Investments:
Other invested assets:		5,859	4,171
Recurring \| SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
Guarantees		6,063	4,164
Recurring \| Level 1
Investments:
Fixed maturities, AFS at fair value		0	0
Fixed maturities, at fair value using the fair value option		0
Other equity investments (6)		210	214
Trading securities, at fair value		296	290
Other invested assets:		139	133
Cash equivalents		3,462	2,386
Segregated securities		0	0
Amounts due from reinsurer		0	0
GMIB reinsurance contracts fair value disclosure		0	0
Separate accounts assets		116,581	111,744
Total Assets		120,688	114,767
Liabilities:
Notes issued by consolidated variable interest entity, fair value option		0	0
Contingent payment arrangements		0	0
Total Liabilities		15	15
Recurring \| Level 1 \| Corporate
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| States and political subdivisions
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| Foreign governments
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| RMBS
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| Asset-backed
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| Commercial mortgage-backed
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| Redeemable preferred stock
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 1 \| Short-term investments
Investments:
Other invested assets:		0	0
Recurring \| Level 1 \| Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:		144	131
Recurring \| Level 1 \| Swaps
Investments:
Other invested assets:		0	0
Recurring \| Level 1 \| Credit default swaps
Investments:
Other invested assets:		0	0
Recurring \| Level 1 \| Futures
Investments:
Other invested assets:		(5)	2
Recurring \| Level 1 \| Options
Investments:
Other invested assets:		0	0
Recurring \| Level 1 \| SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
Guarantees		0	0
Recurring \| Level 2
Investments:
Fixed maturities, AFS at fair value		63,041	61,146
Fixed maturities, at fair value using the fair value option		1,347	1,284
Other equity investments (6)		486	497
Trading securities, at fair value		477	332
Other invested assets:		7,082	5,091
Cash equivalents		272	501
Segregated securities		1,055	1,522
Amounts due from reinsurer		0	0
GMIB reinsurance contracts fair value disclosure		0	0
Separate accounts assets		2,557	2,436
Total Assets		76,317	72,809
Liabilities:
Notes issued by consolidated variable interest entity, fair value option		1,383	1,374
Contingent payment arrangements		0	0
Total Liabilities		7,447	5,545
Recurring \| Level 2 \| Corporate
Investments:
Fixed maturities, AFS at fair value		43,143	41,450
Recurring \| Level 2 \| U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS at fair value		6,069	5,837
Recurring \| Level 2 \| States and political subdivisions
Investments:
Fixed maturities, AFS at fair value		547	499
Recurring \| Level 2 \| Foreign governments
Investments:
Fixed maturities, AFS at fair value		898	836
Recurring \| Level 2 \| RMBS
Investments:
Fixed maturities, AFS at fair value		847	788
Recurring \| Level 2 \| Asset-backed
Investments:
Fixed maturities, AFS at fair value		8,230	8,490
Recurring \| Level 2 \| Commercial mortgage-backed
Investments:
Fixed maturities, AFS at fair value		3,264	3,203
Recurring \| Level 2 \| Redeemable preferred stock
Investments:
Fixed maturities, AFS at fair value		43	43
Recurring \| Level 2 \| Short-term investments
Investments:
Other invested assets:		1,170	943
Recurring \| Level 2 \| Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:		403	393
Recurring \| Level 2 \| Swaps
Investments:
Other invested assets:		(355)	(425)
Recurring \| Level 2 \| Credit default swaps
Investments:
Other invested assets:		5	9
Recurring \| Level 2 \| Futures
Investments:
Other invested assets:		0	0
Recurring \| Level 2 \| Options
Investments:
Other invested assets:		5,859	4,171
Recurring \| Level 2 \| SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
Guarantees		6,063	4,164
Recurring \| Level 3
Investments:
Fixed maturities, AFS at fair value		2,024	2,215
Fixed maturities, at fair value using the fair value option		196	224
Other equity investments (6)		11	12
Trading securities, at fair value		55	55
Other invested assets:		4	5
Cash equivalents		0	0
Segregated securities		0	0
Amounts due from reinsurer		10,676	10,423
GMIB reinsurance contracts fair value disclosure		629	490
Separate accounts assets		1	1
Total Assets		13,596	13,425
Liabilities:
Notes issued by consolidated variable interest entity, fair value option		0	0
Contingent payment arrangements		248	247
Total Liabilities		15,309	16,013
Recurring \| Level 3 \| Corporate
Investments:
Fixed maturities, AFS at fair value		1,950	2,121
Recurring \| Level 3 \| U.S. Treasury, government and agency
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 3 \| States and political subdivisions
Investments:
Fixed maturities, AFS at fair value		28	28
Recurring \| Level 3 \| Foreign governments
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 3 \| RMBS
Investments:
Fixed maturities, AFS at fair value		0	34
Recurring \| Level 3 \| Asset-backed
Investments:
Fixed maturities, AFS at fair value		12	0
Recurring \| Level 3 \| Commercial mortgage-backed
Investments:
Fixed maturities, AFS at fair value		34	32
Recurring \| Level 3 \| Redeemable preferred stock
Investments:
Fixed maturities, AFS at fair value		0	0
Recurring \| Level 3 \| Short-term investments
Investments:
Other invested assets:		0	0
Recurring \| Level 3 \| Assets of consolidated VIEs/VOEs
Investments:
Other invested assets:		4	5
Recurring \| Level 3 \| Swaps
Investments:
Other invested assets:		0	0
Recurring \| Level 3 \| Credit default swaps
Investments:
Other invested assets:		0	0
Recurring \| Level 3 \| Futures
Investments:
Other invested assets:		0	0
Recurring \| Level 3 \| Options
Investments:
Other invested assets:		0	0
Recurring \| Level 3 \| SCS, SIO, MSO and IUL indexed features’ liability
Liabilities:
Guarantees		0	0
Recurring \| NAV
Investments:
Separate accounts assets		425	456
Variable Interest Entity, Primary Beneficiary \| Recurring
Liabilities:
Guarantees		16	22
Liabilities for market risk benefits		15,061	15,766
Variable Interest Entity, Primary Beneficiary \| Recurring \| Level 1
Liabilities:
Guarantees		15	15
Liabilities for market risk benefits		0	0
Variable Interest Entity, Primary Beneficiary \| Recurring \| Level 2
Liabilities:
Guarantees		1	7
Liabilities for market risk benefits		0	0
Variable Interest Entity, Primary Beneficiary \| Recurring \| Level 3
Liabilities:
Guarantees		0	0
Liabilities for market risk benefits		$ 15,061	$ 15,766

[1]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Assets for market risk benefits	$ 629		$ 490
Market risk benefits	15,061		15,766
Fair value adjustments on purchased MRB asset	1,200		1,100
AFS fixed maturities transferred from Level 3 to Level 2	401	$ 110
AFS fixed maturities transferred from Level 2 to Level 3	$ 56	$ 258
Fair value measurement with unobservable inputs reconciliation recurring basis asset transfers percentage	8.40%	3.90%
Nonrecurring \| Level 3
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Investments, fair value disclosure	$ 758		$ 1,000

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation for All Levels (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total gains (losses), realized and unrealized, included in:
Transfers into level 3	$ 56	$ 258
Transfers out of level 3	(401)	(110)
Corporate \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	2,121	1,504
Investment gains (losses), reported in net investment income	2	1
Net derivative gains (losses)	(3)	1
Total realized and unrealized gains (losses)	(1)	2
Other comprehensive income (loss)	18	(31)
Purchases	171	232
Sales	(91)	(87)
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	70
Transfers out of level 3	(268)	(7)
Ending Balance	1,950	1,683
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	17	(29)
States and political subdivisions \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	28	35
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	(2)
Purchases	0	0
Sales	0	(1)
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	28	32
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	(2)
Asset-backed \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	0	8
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	12	325
Sales	0	(1)
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	12	332
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
CMBS \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	32	20
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	(1)
Purchases	2	219
Sales	0	0
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	34	238
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	(1)
RMBS \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	34	0
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	0	0
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	(34)	0
Ending Balance	0	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Trading Securities, at Fair Value \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	55	65
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	(13)
Total realized and unrealized gains (losses)	0	(13)
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	0	0
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	55	52
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	(13)
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Fixed maturities, at FVO \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	224	201
Investment gains (losses), reported in net investment income	3	(4)
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	3	(4)
Other comprehensive income (loss)	0	0
Purchases	12	89
Sales	0	(29)
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	56	188
Transfers out of level 3	(99)	(103)
Ending Balance	196	342
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	3	(4)
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Other equity investments \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	17	16
Investment gains (losses), reported in net investment income	(3)	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	(3)	0
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	0	0
Settlements	0
Other	0	0
Activity related to consolidated VIEs/VOEs	0	(2)
Transfers into level 3	1	0
Transfers out of level 3	0	(3)
Ending Balance	15	11
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	(3)	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Separate Accounts Assets \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	1	1
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	0	(1)
Settlements	0
Other	0	0
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	1	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Contingent Payment Arrangement \| Level 3
Total gains (losses), realized and unrealized, included in:
Beginning Balance	(247)	(38)
Investment gains (losses), reported in net investment income	0	0
Net derivative gains (losses)	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases		1
Sales	0	0
Settlements	0
Other	(1)	0
Activity related to consolidated VIEs/VOEs	0	0
Transfers into level 3	0	0
Transfers out of level 3	0	0
Ending Balance	(248)	(37)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	$ 0	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information about Level 3 (Details) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Sep. 30, 2022	Dec. 31, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market risk benefits	$ 15,061		$ 15,766
Assets for market risk benefits	629		490
Discounted cash flow \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 248		$ 247
Discount Rate \| Discounted cash flow \| Minimum \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.019		0.019
Discount Rate \| Discounted cash flow \| Maximum \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.104		0.104
Discount Rate \| Discounted cash flow \| Weighted Average \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.046		0.045
Expected Revenue Growth Rate \| Discounted cash flow \| Minimum \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.020		0.020
Expected Revenue Growth Rate \| Discounted cash flow \| Maximum \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.839		0.839
Expected Revenue Growth Rate \| Discounted cash flow \| Weighted Average \| Alliance Bernstein \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.103		0.115
Corporate \| Matrix Pricing Model \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 475		$ 417
Corporate \| Market Comparable Companies \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 1,001		$ 1,029
Corporate \| Spread Over Benchmark \| Matrix Pricing Model \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0020		0.0020
Corporate \| Spread Over Benchmark \| Matrix Pricing Model \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0270		0.0797
Corporate \| Spread Over Benchmark \| Matrix Pricing Model \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0175		0.0205
Corporate \| EBITDA Multiple \| Market Comparable Companies \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	5.3		5.3
Corporate \| EBITDA Multiple \| Market Comparable Companies \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	31.5		35.8
Corporate \| EBITDA Multiple \| Market Comparable Companies \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	14.7		13.6
Corporate \| Discount Rate \| Market Comparable Companies \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.083		0.090
Corporate \| Discount Rate \| Market Comparable Companies \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.248		0.457
Corporate \| Discount Rate \| Market Comparable Companies \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.100		0.119
Corporate \| Cash Flow Multiples \| Market Comparable Companies \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.5		0
Corporate \| Cash Flow Multiples \| Market Comparable Companies \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	11		10.3
Corporate \| Cash Flow Multiples \| Market Comparable Companies \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	6.8		6.1
Corporate \| Loan to Value \| Market Comparable Companies \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0		0
Corporate \| Loan to Value \| Market Comparable Companies \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.00687		0.404
Corporate \| Loan to Value \| Market Comparable Companies \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.00009		0.120
Trading Securities, at Fair Value \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 55		$ 55
Measurement input	7 years	7 years
Trading Securities, at Fair Value \| Revenue/Earnings Multiple \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	8.3		8.3
Trading Securities, at Fair Value \| Discount Factor \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.100		0.1000
Other equity investments \| Market Comparable Companies \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value			$ 4
Other equity investments \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 2
Other equity investments \| Revenue/Earnings Multiple \| Market Comparable Companies \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input			0.5
Other equity investments \| Revenue/Earnings Multiple \| Market Comparable Companies \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input			10.8
Other equity investments \| Revenue/Earnings Multiple \| Market Comparable Companies \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input			2.4
Other equity investments \| Revenue/Earnings Multiple \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	7
Other equity investments \| Revenue/Earnings Multiple \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	11
Other equity investments \| Revenue/Earnings Multiple \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	9.2
Embedded Derivative, GMIB Reinsurance \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 10,676		$ 10,423
Embedded Derivative, GMIB Reinsurance \| Lapse Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0026		0.0026
Embedded Derivative, GMIB Reinsurance \| Lapse Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2623		0.2623
Embedded Derivative, GMIB Reinsurance \| Lapse Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0152		0.0158
Embedded Derivative, GMIB Reinsurance \| Withdrawal Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0006		0.0006
Embedded Derivative, GMIB Reinsurance \| Withdrawal Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.1093		0.1093
Embedded Derivative, GMIB Reinsurance \| Withdrawal Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0070		0.0069
Embedded Derivative, GMIB Reinsurance \| Utilization Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0004		0.0004
Embedded Derivative, GMIB Reinsurance \| Utilization Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.6666		0.6666
Embedded Derivative, GMIB Reinsurance \| Utilization Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0742		0.0739
Embedded Derivative, GMIB Reinsurance \| Non-Performance Risk \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0065		0.0054
Embedded Derivative, GMIB Reinsurance \| Non-Performance Risk \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0149		0.0124
Embedded Derivative, GMIB Reinsurance \| Non-Performance Risk \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0069		0.0069
Embedded Derivative, GMIB Reinsurance \| Volatility Rate - Equity \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.17		0.14
Embedded Derivative, GMIB Reinsurance \| Volatility Rate - Equity \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.26		0.32
Embedded Derivative, GMIB Reinsurance \| Volatility Rate - Equity \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.22		0.24
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0001		0.0001
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0017		0.0017
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285		0.0287
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0006		0.0006
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0052		0.0052
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285		0.0287
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0032		0.0032
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.4000		0.4000
Embedded Derivative, GMIB Reinsurance \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285		0.0287
Direct MRB \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 14,432		$ 15,276
Direct MRB \| Lapse Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0026		0.0026
Direct MRB \| Lapse Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.3542		0.3542
Direct MRB \| Lapse Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0277		0.0301
Direct MRB \| Withdrawal Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0		0
Direct MRB \| Withdrawal Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.1093		0.1093
Direct MRB \| Withdrawal Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0062		0.0068
Direct MRB \| Non-Performance Risk \| Discounted cash flow \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	191		0.0157
Direct MRB \| Non-Performance Risk \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	191		0.0157
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0001		0.0001
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0017		0.0017
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 0 - 40 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0218		0.0243
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0006		0.0006
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0052		0.0052
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 41 - 60 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0218		0.0243
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0032		0.0032
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.4000		0.4000
Direct MRB \| Mortality Rate \| Discounted cash flow \| Ages 61 - 115 \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0218		0.0243
Direct MRB \| Annuitization Rate \| Discounted cash flow \| Minimum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0004		0.0004
Direct MRB \| Annuitization Rate \| Discounted cash flow \| Maximum \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	1		1
Direct MRB \| Annuitization Rate \| Discounted cash flow \| Weighted Average \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0499		0.0553

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
Consolidated Amounts [Abstract]
Mortgage loans on real estate	[1]	$ 16,969	$ 16,481
Policy loans		4,028	4,033
Policyholders’ liabilities: Investment contracts		86,761	83,866
Separate Accounts liabilities		119,752	114,853
Short-term debt		751	759
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate		16,969	16,481
Policy loans		4,028	4,033
Policyholders’ liabilities: Investment contracts		1,844	1,916
FHLB funding agreements		8,369	8,505
FABN funding agreements		7,367	7,095
Short-term Debt, Fair Value		520	520
Long-term debt		3,819	3,322
Separate Accounts liabilities		10,669	10,236
Carrying Value \| CLO Warehouse Debt
Consolidated Amounts [Abstract]
Short-term debt		231	239
Measured at Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate		15,268	14,690
Policy loans		4,400	4,349
Policyholders’ liabilities: Investment contracts		1,708	1,750
FHLB funding agreements		8,285	8,390
FABN funding agreements		6,850	6,384
Short-term Debt, Fair Value		520	518
Long-term debt		3,605	3,130
Separate Accounts liabilities		10,669	10,236
Measured at Fair Value \| Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate		0	0
Policy loans		0	0
Policyholders’ liabilities: Investment contracts		0	0
FHLB funding agreements		0	0
FABN funding agreements		0	0
Short-term Debt, Fair Value		0	0
Long-term debt		0	0
Separate Accounts liabilities		0	0
Measured at Fair Value \| Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate		0	0
Policy loans		0	0
Policyholders’ liabilities: Investment contracts		0	0
FHLB funding agreements		8,285	8,390
FABN funding agreements		6,850	6,384
Short-term Debt, Fair Value		520	518
Long-term debt		3,605	3,130
Separate Accounts liabilities		0	0
Measured at Fair Value \| Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate		15,268	14,690
Policy loans		4,400	4,349
Policyholders’ liabilities: Investment contracts		1,708	1,750
FHLB funding agreements		0	0
FABN funding agreements		0	0
Short-term Debt, Fair Value		0	0
Long-term debt		0	0
Separate Accounts liabilities		$ 10,669	$ 10,236

[1]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.

LIABILITIES FOR FUTURE POLICY_3

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Ending balance	$ (30)	$ 123
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance at original discount rate	355
Ending balance at original discount rate	213
Ending balance	(112)	462
Future policy benefits and other policyholders' liabilities	16,738		$ 16,603
Less: Reinsurance Recoverable					$ 1,896
Net liability for future policy benefits, after reinsurance recoverable					6,574
Term
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Future policy benefits and other policyholders' liabilities	1,371		1,365
Term \| Protection Solutions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Less: Reinsurance Recoverable					59
Net liability for future policy benefits, after reinsurance recoverable					$ 1,924
Term \| Protection Solutions \| Operating Segments
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning balance	2,100	2,485
Beginning balance at original discount rate	2,078	1,864
Effect of changes in cash flow assumptions			8	$ 0
Effect of actual variances from expected experience			3	56
Adjusted beginning of the period balance			2,089	1,920
Issuances	15	22
Interest accrual	25	23
Net premiums collected	(51)	(49)
Ending balance at original discount rate	2,078	1,916
Effect of changes in discount rate assumptions	82	387
Ending balance	2,160	2,303
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	3,465	4,294
Beginning balance at original discount rate	3,391	3,241
Effect of changes in cash flow assumptions			9	0
Effect of actual variances from expected experience			4	60
Adjusted beginning of the period balance			3,404	3,301
Issuances	16	23
Interest accrual	42	42
Benefits payments	(95)	(137)
Ending balance at original discount rate	3,367	3,229
Effect of changes in discount rate assumptions	164	650
Ending balance	3,531	3,879
Future policy benefits and other policyholders' liabilities	1,371	1,576
Less: Reinsurance Recoverable	27	16
Net liability for future policy benefits, after reinsurance recoverable	$ 1,398	$ 1,592
Weighted-average duration of additional liability - death benefit (years)	7 years	7 years 6 months
Payout - Legacy \| Individual Retirement \| Operating Segments
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning balance	$ 0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of the period balance			0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Ending balance	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	828	1,114
Beginning balance at original discount rate	845	883
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			1	0
Adjusted beginning of the period balance			846	883
Issuances	15	9
Interest accrual	10	10
Benefits payments	(23)	(24)
Ending balance at original discount rate	848	878
Effect of changes in discount rate assumptions	6	126
Ending balance	854	1,004
Future policy benefits and other policyholders' liabilities	854	1,004
Less: Reinsurance Recoverable	0	0
Net liability for future policy benefits, after reinsurance recoverable	$ 854	$ 1,004
Weighted-average duration of additional liability - death benefit (years)	9 years 4 months 24 days	9 years 7 months 6 days
Payout - Legacy \| Legacy \| Operating Segments
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning balance	$ 0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of the period balance			0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Ending balance	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	2,689	2,547
Beginning balance at original discount rate	3,024	2,400
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	(4)
Adjusted beginning of the period balance			3,024	2,396
Issuances	222	152
Interest accrual	21	16
Benefits payments	(65)	(47)
Ending balance at original discount rate	3,202	2,517
Effect of changes in discount rate assumptions	(258)	(58)
Ending balance	2,944	2,459
Future policy benefits and other policyholders' liabilities	2,944	2,459
Less: Reinsurance Recoverable	(589)	(203)
Net liability for future policy benefits, after reinsurance recoverable	$ 2,355	$ 2,256
Weighted-average duration of additional liability - death benefit (years)	7 years 10 months 24 days	8 years 4 months 24 days
Group Pension
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Future policy benefits and other policyholders' liabilities	$ 523		523
Group Pension \| Corporate and Other
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning balance	0	$ 0
Beginning balance at original discount rate	0	0
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			0	0
Adjusted beginning of the period balance			0	0
Issuances	0	0
Interest accrual	0	0
Net premiums collected	0	0
Ending balance at original discount rate	0	0
Effect of changes in discount rate assumptions	0	0
Ending balance	0	0
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	523	683
Beginning balance at original discount rate	583	632
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(1)	0
Adjusted beginning of the period balance			582	632
Issuances	0	0
Interest accrual	5	5
Benefits payments	(17)	(18)
Ending balance at original discount rate	570	619
Effect of changes in discount rate assumptions	(48)	2
Ending balance	522	621
Future policy benefits and other policyholders' liabilities	522	621
Less: Reinsurance Recoverable	0	0
Net liability for future policy benefits, after reinsurance recoverable	$ 522	$ 621
Weighted-average duration of additional liability - death benefit (years)	7 years 1 month 6 days	7 years 2 months 12 days
Health
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Future policy benefits and other policyholders' liabilities	$ 1,583		1,558
Health \| Corporate and Other
Liability for Future Policy Benefit, Expected Net Premium [Roll Forward]
Beginning balance	(5)	$ 22
Beginning balance at original discount rate	(5)	19
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(6)	(18)
Adjusted beginning of the period balance			(11)	1
Issuances	0	0
Interest accrual	0	0
Net premiums collected	1	0
Ending balance at original discount rate	(10)	1
Effect of changes in discount rate assumptions	0	1
Ending balance	(10)	2
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	1,553	2,092
Beginning balance at original discount rate	1,795	1,915
Effect of changes in cash flow assumptions			0	0
Effect of actual variances from expected experience			(7)	(20)
Adjusted beginning of the period balance			$ 1,788	$ 1,895
Issuances	0	0
Interest accrual	15	15
Benefits payments	(33)	(41)
Ending balance at original discount rate	1,770	1,869
Effect of changes in discount rate assumptions	(197)	(5)
Ending balance	1,573	1,864
Future policy benefits and other policyholders' liabilities	1,583	1,862
Less: Reinsurance Recoverable	(1,258)	(1,479)
Net liability for future policy benefits, after reinsurance recoverable	$ 325	$ 383
Weighted-average duration of additional liability - death benefit (years)	8 years 8 months 12 days	8 years 10 months 24 days

LIABILITIES FOR FUTURE POLICY_4

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Policyholder Account Balance And Liability For Unpaid Claims And Claims Adjustment Expense (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 16,738	$ 16,603
Future policyholder benefits total
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	14,908	14,644
Subtotal
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	8,407	8,072
Term
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,371	1,365
Individual Retirement - Payout
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	853	828
Legacy - Payout
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	2,944	2,689
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	523	523
Health
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,583	1,558
UL
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	1,133	1,109
Whole Life Closed Block and Open Block products
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	5,597	5,664
Other Future Policyholder Benefits
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	904	908
Other policyholder funds and dividends payable
Liability for Future Policy Benefit, Activity [Line Items]
Future policy benefits and other policyholders' liabilities	$ 1,830	$ 1,959

LIABILITIES FOR FUTURE POLICY_5

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Undiscounted and Discounted Expected Gross Premiums and Expected Future Benefits and Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Term
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	$ 5,972	$ 6,022
Expected future gross premiums (undiscounted)	7,188	7,273
Expected future benefit payments and expenses (discounted; AOCI basis)	3,531	3,465
Expected future gross premiums (discounted; AOCI basis)	3,981	3,904
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	4,227	3,947
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted; AOCI basis)	2,861	2,607
Expected future gross premiums (discounted; AOCI basis)	0	0
Payout
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	1,456	1,460
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted; AOCI basis)	825	801
Expected future gross premiums (discounted; AOCI basis)	0	0
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	713	730
Expected future gross premiums (undiscounted)	0	0
Expected future benefit payments and expenses (discounted; AOCI basis)	550	563
Expected future gross premiums (discounted; AOCI basis)	0	0
Health
Liability for Future Policy Benefit, Activity [Line Items]
Expected future benefit payments and expenses (undiscounted)	2,469	2,510
Expected future gross premiums (undiscounted)	94	99
Expected future benefit payments and expenses (discounted; AOCI basis)	1,553	1,533
Expected future gross premiums (discounted; AOCI basis)	$ 75	$ 78

LIABILITIES FOR FUTURE POLICY_6

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Revenue and Interest Accretion (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	$ 114	$ 103
Interest Accretion	68	65
Term
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	70	71
Interest Accretion	17	18
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	27	21
Interest Accretion	21	16
Payout
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	15	9
Interest Accretion	10	11
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	0	0
Interest Accretion	5	5
Health
Liability for Future Policy Benefit, Activity [Line Items]
Gross Premium	2	2
Interest Accretion	$ 15	$ 15

LIABILITIES FOR FUTURE POLICY_7

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Schedule of Liability for Future Policy Benefits, Weighted Average Interest Rates (Details)	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.50%		4.50%
Term
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	5.60%	5.70%
Current discount rate	4.70%	5.10%
Payout - Legacy
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.60%	3.40%
Current discount rate	4.80%	5%
Payout
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	4.90%	4.90%
Current discount rate	4.90%	5.20%
Group Pension
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.40%	3.40%
Current discount rate	4.70%	5.10%
Health
Liability for Future Policy Benefit, Activity [Line Items]
Interest accretion rate	3.30%	3.30%
Current discount rate	4.90%	5.20%

LIABILITIES FOR FUTURE POLICY_8

LIABILITIES FOR FUTURE POLICYHOLDER BENEFITS - Balances of and Changes in Additional Liabilities Related to Insurance Guarantees (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Ending balance	$ (112)	$ 462
Net liability for additional liability	$ 16,738		$ 16,603
Less: Reinsurance Recoverable					$ 1,896
Net liability for additional liability, after reinsurance recoverable					6,574
Weighted Average Interest Rate	4.50%	4.50%
Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 172	$ 180
Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	13	$ 12
UL
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 1,133		1,109
Weighted Average Interest Rate	4.50%	4.50%
UL \| Protection Solutions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	$ 1,109	$ 1,087
Beginning balance before AOCI adjustments	1,135	1,076
Effect of changes in interest rate & cash flow assumptions and model changes			0	$ 5
Effect of actual variances from expected experience			6	5
Adjusted beginning of the period balance			1,141	1,086
Interest accrual	13	12
Net assessments collected	18	21
Benefits payments	(18)	(29)
Ending balance before shadow reserve adjustments	1,154	1,090
Effect of reserve adjustment recorded in AOCI	(21)	(2)
Ending balance	1,133	1,088
Net liability for additional liability	1,133	1,088
Less: Reinsurance Recoverable	0	0
Net liability for additional liability, after reinsurance recoverable	$ 1,133	$ 1,088
Weighted-average duration of additional liability - death benefit (years)	21 years 7 months 6 days	22 years 10 months 24 days
UL \| Assessments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	$ 172	$ 180
UL \| Interest Accretion
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Revenue and Interest Accretion	13	12
Term
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Net liability for additional liability	$ 1,371		$ 1,365
Weighted Average Interest Rate	5.60%		5.70%
Term \| Protection Solutions
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Less: Reinsurance Recoverable					59
Net liability for additional liability, after reinsurance recoverable					$ 1,924
Term \| Protection Solutions \| Operating Segments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	$ 3,465	4,294
Beginning balance before AOCI adjustments	9	0
Effect of actual variances from expected experience			$ 4	60
Adjusted beginning of the period balance			$ 3,404	3,301
Interest accrual	42	42
Benefits payments	95	137
Ending balance	3,531	3,879
Net liability for additional liability	1,371	1,576
Less: Reinsurance Recoverable	27	16
Net liability for additional liability, after reinsurance recoverable	$ 1,398	$ 1,592
Weighted-average duration of additional liability - death benefit (years)	7 years	7 years 6 months
Payout - Legacy
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Weighted Average Interest Rate	3.60%		3.40%
Payout - Legacy \| Individual Retirement \| Operating Segments
Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward]
Beginning balance	$ 828	$ 1,114
Beginning balance before AOCI adjustments	0	0
Effect of actual variances from expected experience			$ 1	0
Adjusted beginning of the period balance			$ 846	$ 883
Interest accrual	10	10
Benefits payments	23	24
Ending balance	854	1,004
Net liability for additional liability	854	1,004
Less: Reinsurance Recoverable	0	0
Net liability for additional liability, after reinsurance recoverable	$ 854	$ 1,004
Weighted-average duration of additional liability - death benefit (years)	9 years 4 months 24 days	9 years 7 months 6 days

MARKET RISK BENEFITS - Changes

MARKET RISK BENEFITS - Changes in the Market Risk Benefits for Deferred Variable Annuities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2020
Market Risk Benefit [Roll Forward]
Changes in the instrument-specific credit risk	$ 1,855		$ 668	$ 23,784
Balance, end of the period	938	$ 1,573
GMxB Core
Market Risk Benefit [Roll Forward]
Net amount at risk	3,287	1,787
GMxB Legacy
Market Risk Benefit [Roll Forward]
Net amount at risk	21,472	17,987
Purchased MRB
Market Risk Benefit [Roll Forward]
Net amount at risk	10,045	7,657
Individual Retirement \| GMxB Core
Market Risk Benefit [Roll Forward]
Balance, beginning of the period	530	1,061
Balance BOP before changes in the instrument specific credit risk	529	666
Model changes and effect of changes in cash flow assumptions	0	0
Actual market movement effect	(211)	328
Interest accrual	18	5
Attributed fees accrued	95	92
Benefit payments	(12)	(5)
Actual policyholder behavior different from expected behavior	7	1
Changes in future economic assumptions	125	(542)
Issuances	(1)	(5)
Balance EOP before changes in the instrument-specific credit risk	550	540
Changes in the instrument-specific credit risk	(233)	(42)		$ 2,144
Balance, end of the period	$ 317	$ 498
Weighted-average crediting rate	63 years 8 months 12 days	62 years 9 months 18 days
Net amount at risk	$ 317		530
Legacy \| GMxB Legacy
Market Risk Benefit [Roll Forward]
Balance, beginning of the period	14,699	$ 20,236
Balance BOP before changes in the instrument specific credit risk	15,314	19,719
Model changes and effect of changes in cash flow assumptions	0	(87)
Actual market movement effect	(744)	1,098
Interest accrual	197	104
Attributed fees accrued	209	219
Benefit payments	(342)	(251)
Actual policyholder behavior different from expected behavior	21	33
Changes in future economic assumptions	944	(2,934)
Issuances	0	0
Balance EOP before changes in the instrument-specific credit risk	15,599	17,901
Changes in the instrument-specific credit risk	(1,517)	(970)
Balance, end of the period	$ 14,082	$ 16,931
Weighted-average crediting rate	72 years 9 months 18 days	72 years 2 months 12 days
Net amount at risk	$ 3,413		$ 4,287
Legacy \| Purchased MRB
Market Risk Benefit [Roll Forward]
Balance, beginning of the period	(10,415)	$ (14,059)
Balance BOP before changes in the instrument specific credit risk	(10,358)	(14,051)
Model changes and effect of changes in cash flow assumptions	0	29
Actual market movement effect	387	(399)
Interest accrual	(153)	(61)
Attributed fees accrued	(83)	(86)
Benefit payments	185	136
Actual policyholder behavior different from expected behavior	(18)	(15)
Changes in future economic assumptions	(530)	2,006
Issuances	0	0
Balance EOP before changes in the instrument-specific credit risk	(10,570)	(12,441)
Changes in the instrument-specific credit risk	(99)	(66)
Balance, end of the period	$ (10,669)	$ (12,507)
Weighted-average crediting rate	67 years 8 months 12 days	67 years 1 month 6 days
Legacy \| Net Legacy
Market Risk Benefit [Roll Forward]
Balance, beginning of the period	$ 4,284	$ 6,177
Balance BOP before changes in the instrument specific credit risk	4,956	5,668
Model changes and effect of changes in cash flow assumptions	0	(58)
Actual market movement effect	(357)	699
Interest accrual	44	43
Attributed fees accrued	126	133
Benefit payments	(157)	(115)
Actual policyholder behavior different from expected behavior	3	18
Changes in future economic assumptions	414	(928)
Issuances	0	0
Balance EOP before changes in the instrument-specific credit risk	5,029	5,460
Changes in the instrument-specific credit risk	(1,616)	(1,036)
Balance, end of the period	$ 3,413	$ 4,424

MARKET RISK BENEFITS - Reconcil

MARKET RISK BENEFITS - Reconciles Market Risk Benefits (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Market Risk Benefit [Line Items]
Direct Asset	$ (629)	$ (490)
Liability for market risk benefits	15,061	15,766
Legacy And Individual Retirement
Market Risk Benefit [Line Items]
Direct Asset	(629)	(490)
Liability for market risk benefits	15,061	15,766
Net Direct MRB	14,432	15,276
Purchased MRB	(10,676)	(10,423)
Net amount at risk	3,756	4,853
GMxB Legacy
Market Risk Benefit [Line Items]
Net amount at risk	21,472		$ 17,987
GMxB Legacy \| Legacy
Market Risk Benefit [Line Items]
Direct Asset	(74)	(51)
Liability for market risk benefits	14,156	14,749
Net Direct MRB	14,082	14,699
Purchased MRB	(10,669)	(10,412)
Net amount at risk	3,413	4,287
GMxB Core
Market Risk Benefit [Line Items]
Net amount at risk	3,287		$ 1,787
GMxB Core \| Individual Retirement
Market Risk Benefit [Line Items]
Direct Asset	(498)	(387)
Liability for market risk benefits	815	917
Net Direct MRB	317	530
Purchased MRB	0	0
Net amount at risk	317	530
Other \| Individual Retirement
Market Risk Benefit [Line Items]
Direct Asset	(57)	(52)
Liability for market risk benefits	90	100
Net Direct MRB	33	47
Purchased MRB	(7)	(11)
Net amount at risk	$ 26	$ 36

POLICYHOLDER ACCOUNT BALANCES_2

POLICYHOLDER ACCOUNT BALANCES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Policyholder Account Balance [Roll Forward]
Interest credited	$ 463	$ 313
Balance (exclusive of Funding Agreements)	70,963		$ 68,229
Funding Agreements	15,798		15,637
Balance, end of the period	86,761		$ 83,866
UL \| Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	5,340	5,462
Issuances	0	0
Premiums received	184	191
Policy charges	(194)	(200)
Surrenders and withdrawals	(18)	(20)
Benefit payments	(76)	(53)
Net transfers from (to) separate account	0	0
Interest credited	55	56
Other	0	0
Balance, end of the period	$ 5,291	$ 5,436
Weighted-average crediting rate	3.64%	3.62%
Net amount at risk (3)	$ 37,031	$ 39,254
Cash surrender value	3,475	3,521
VUL \| Protection Solutions
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	4,909	4,807
Issuances	0	0
Premiums received	38	47
Policy charges	(65)	(55)
Surrenders and withdrawals	(1)	0
Benefit payments	(40)	(3)
Net transfers from (to) separate account	(45)	12
Interest credited	55	43
Other	0	0
Balance, end of the period	$ 4,851	$ 4,851
Weighted-average crediting rate	3.81%	3.83%
Net amount at risk (3)	$ 114,419	$ 112,430
Cash surrender value	3,293	3,403
GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	688	745
Issuances	0	0
Premiums received	20	16
Policy charges	19	13
Surrenders and withdrawals	(25)	(16)
Benefit payments	(24)	(27)
Net transfers from (to) separate account	0	4
Interest credited	7	7
Other	0	0
Balance, end of the period	$ 685	$ 742
Weighted-average crediting rate	1.78%	1.81%
Net amount at risk (3)	$ 21,472	$ 17,987
Cash surrender value	957	1,031
GMxB Core \| Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	69	112
Issuances	0	0
Premiums received	46	40
Policy charges	(4)	(10)
Surrenders and withdrawals	(8)	(8)
Benefit payments	(1)	(1)
Net transfers from (to) separate account	(49)	(38)
Interest credited	2	2
Other	0	0
Balance, end of the period	$ 55	$ 97
Weighted-average crediting rate	1.05%	1.05%
Net amount at risk (3)	$ 3,287	$ 1,787
Cash surrender value	284	309
SCS \| Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	35,702	33,443
Issuances	0	0
Premiums received	0	0
Policy charges	(1)	0
Surrenders and withdrawals	(607)	(714)
Benefit payments	(59)	(59)
Net transfers from (to) separate account	1,982	1,717
Interest credited	1,620	(272)
Other	0	0
Balance, end of the period	$ 38,637	$ 34,115
Weighted-average crediting rate	1.12%	1.14%
Net amount at risk (3)	$ 43	$ 10
Cash surrender value	35,286	31,608
EI \| Individual Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	2,652	2,784
Issuances	0	0
Premiums received	11	15
Policy charges	0	0
Surrenders and withdrawals	(94)	(45)
Benefit payments	(20)	(15)
Net transfers from (to) separate account	3	10
Interest credited	19	20
Other	3	0
Balance, end of the period	$ 2,574	$ 2,769
Weighted-average crediting rate	3.09%	2.86%
Net amount at risk (3)	$ 128	$ 104
Cash surrender value	2,567	2,761
EG \| Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	12,045	11,951
Issuances	0	0
Premiums received	148	149
Policy charges	(1)	(1)
Surrenders and withdrawals	(405)	(195)
Benefit payments	(17)	(19)
Net transfers from (to) separate account	69	109
Interest credited	102	66
Other	11	0
Balance, end of the period	$ 11,952	$ 12,060
Weighted-average crediting rate	2.99%	2.36%
Net amount at risk (3)	$ 58	$ 19
Cash surrender value	11,871	11,982
Momentum \| Group Retirement
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	702	704
Issuances	0	0
Premiums received	19	23
Policy charges	0	0
Surrenders and withdrawals	(30)	(36)
Benefit payments	(2)	(1)
Net transfers from (to) separate account	(9)	23
Interest credited	3	3
Other	0	0
Balance, end of the period	$ 683	$ 716
Weighted-average crediting rate	2.03%	2.04%
Net amount at risk (3)	$ 0	$ 0
Cash surrender value	684	$ 716
Others \| Other Segments
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	6,122
Balance, end of the period	6,235
Legacy \| Legacy Segment
Policyholder Account Balance [Roll Forward]
Balance, beginning of the period	688
Balance, end of the period	$ 685

POLICYHOLDER ACCOUNT BALANCES -

POLICYHOLDER ACCOUNT BALANCES - Guaranteed Minimum Interest Rates (Details) $ in Millions	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 5,254	$ 5,308
VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	4,448	4,518
GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	959	981
GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	293	303
EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	2,574	2,652
SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	36,911	33,613
EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	11,704	11,794
Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	683	702
At Guaranteed Minimum \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	3,720	3,796
At Guaranteed Minimum \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	4,226	4,415
At Guaranteed Minimum \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	959	981
At Guaranteed Minimum \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	293	303
At Guaranteed Minimum \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	2,156	2,590
At Guaranteed Minimum \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	36,911	33,613
At Guaranteed Minimum \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	6,868	7,069
At Guaranteed Minimum \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 260	$ 266
1 Basis Point - 50 Basis Points Above \| Minimum
Policyholder Account Balance [Line Items]
Above guaranteed minimum crediting rate	0.0001	0.0001
1 Basis Point - 50 Basis Points Above \| Maximum
Policyholder Account Balance [Line Items]
Above guaranteed minimum crediting rate	0.0050	0.0050
1 Basis Point - 50 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 777	$ 854
1 Basis Point - 50 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	207	93
1 Basis Point - 50 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1 Basis Point - 50 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1 Basis Point - 50 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	19	0
1 Basis Point - 50 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1 Basis Point - 50 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	401	28
1 Basis Point - 50 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 292	$ 302
51 Basis Points - 150 Basis Points Above \| Minimum
Policyholder Account Balance [Line Items]
Above guaranteed minimum crediting rate	0.0051	0.0051
51 Basis Points - 150 Basis Points Above \| Maximum
Policyholder Account Balance [Line Items]
Above guaranteed minimum crediting rate	0.0150	0.0150
51 Basis Points - 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 644	$ 610
51 Basis Points - 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	13	9
51 Basis Points - 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
51 Basis Points - 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
51 Basis Points - 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	160	62
51 Basis Points - 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
51 Basis Points - 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	1,259	1,585
51 Basis Points - 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 124	$ 127
Greater Than 150 Basis Points Above \| Minimum
Policyholder Account Balance [Line Items]
Above guaranteed minimum crediting rate	0.0150	0.0150
Greater Than 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 113	$ 48
Greater Than 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	2	1
Greater Than 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater Than 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater Than 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	239	0
Greater Than 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater Than 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	3,176	3,112
Greater Than 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	7	7
0.00% - 1.50% \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 5	$ 6
0.00% - 1.50% \| UL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| UL \| Protection Solutions \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 87	$ 78
0.00% - 1.50% \| VUL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| VUL \| Protection Solutions \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	$ 387	$ 386
0.00% - 1.50% \| GMxB Legacy \| Legacy Segment \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| GMxB Legacy \| Legacy Segment \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 279	$ 289
0.00% - 1.50% \| GMxB Core \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| GMxB Core \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 329	$ 345
0.00% - 1.50% \| EI \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| EI \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 31,090	$ 28,086
0.00% - 1.50% \| SCS \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| SCS \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,653	$ 3,592
0.00% - 1.50% \| EG \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| EG \| Group Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 430	$ 445
0.00% - 1.50% \| Momentum \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	0%	0%
0.00% - 1.50% \| Momentum \| Group Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.50%	1.50%
0.00% - 1.50% \| At Guaranteed Minimum \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
0.00% - 1.50% \| At Guaranteed Minimum \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	23	30
0.00% - 1.50% \| At Guaranteed Minimum \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	387	386
0.00% - 1.50% \| At Guaranteed Minimum \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	279	289
0.00% - 1.50% \| At Guaranteed Minimum \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	35	345
0.00% - 1.50% \| At Guaranteed Minimum \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	31,090	28,086
0.00% - 1.50% \| At Guaranteed Minimum \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	58	109
0.00% - 1.50% \| At Guaranteed Minimum \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	13	15
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	51	40
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	57	5
0.00% - 1.50% \| 1 Basis Point - 50 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	291	301
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	4	5
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	11	7
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	55	0
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	362	366
0.00% - 1.50% \| 51 Basis Points - 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	119	122
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	1	1
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	2	1
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	239	0
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	3,176	3,112
0.00% - 1.50% \| Greater Than 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	7	7
1.51% - 2.50% \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 1,034	$ 1,030
1.51% - 2.50% \| UL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| UL \| Protection Solutions \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 540	$ 538
1.51% - 2.50% \| VUL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| VUL \| Protection Solutions \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	$ 539	$ 560
1.51% - 2.50% \| GMxB Legacy \| Legacy Segment \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| GMxB Legacy \| Legacy Segment \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 14	$ 14
1.51% - 2.50% \| GMxB Core \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| GMxB Core \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 46	$ 46
1.51% - 2.50% \| EI \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| EI \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 5,821	$ 5,527
1.51% - 2.50% \| SCS \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| SCS \| Individual Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 910	$ 902
1.51% - 2.50% \| EG \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| EG \| Group Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 175	$ 179
1.51% - 2.50% \| Momentum \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	1.51%	1.51%
1.51% - 2.50% \| Momentum \| Group Retirement \| Maximum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
1.51% - 2.50% \| At Guaranteed Minimum \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 155	$ 181
1.51% - 2.50% \| At Guaranteed Minimum \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	384	485
1.51% - 2.50% \| At Guaranteed Minimum \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	539	560
1.51% - 2.50% \| At Guaranteed Minimum \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	14	14
1.51% - 2.50% \| At Guaranteed Minimum \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	46
1.51% - 2.50% \| At Guaranteed Minimum \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	5,821	5,527
1.51% - 2.50% \| At Guaranteed Minimum \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	11	11
1.51% - 2.50% \| At Guaranteed Minimum \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	174	178
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	127	197
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	156	53
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	2	2
1.51% - 2.50% \| 1 Basis Point - 50 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	1	1
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	640	605
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	46	0
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	897	889
1.51% - 2.50% \| 51 Basis Points - 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	112	47
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
1.51% - 2.50% \| Greater Than 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 4,215	$ 4,272
Greater than 2.50% \| UL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,821	$ 3,902
Greater than 2.50% \| VUL \| Protection Solutions \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	$ 33	$ 35
Greater than 2.50% \| GMxB Legacy \| Legacy Segment \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
Greater than 2.50% \| GMxB Core \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 2,199	$ 2,261
Greater than 2.50% \| EI \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0
Greater than 2.50% \| SCS \| Individual Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 7,141	$ 7,300
Greater than 2.50% \| EG \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 78	$ 78
Greater than 2.50% \| Momentum \| Group Retirement \| Minimum
Policyholder Account Balance [Line Items]
Guaranteed minimum credit rating	2.50%	2.50%
Greater than 2.50% \| At Guaranteed Minimum \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	$ 3,565	$ 3,615
Greater than 2.50% \| At Guaranteed Minimum \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	3,819	3,900
Greater than 2.50% \| At Guaranteed Minimum \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	33	35
Greater than 2.50% \| At Guaranteed Minimum \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| At Guaranteed Minimum \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	2,121	2,199
Greater than 2.50% \| At Guaranteed Minimum \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| At Guaranteed Minimum \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	6,799	6,949
Greater than 2.50% \| At Guaranteed Minimum \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	73	73
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	650	657
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	19	0
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	342	21
Greater than 2.50% \| 1 Basis Point - 50 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	2	2
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	59	62
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	330
Greater than 2.50% \| 51 Basis Points - 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	5	5
Greater than 2.50% \| Greater Than 150 Basis Points Above \| UL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| VUL \| Protection Solutions
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| GMxB Legacy \| Legacy Segment
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| GMxB Core \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| EI \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| SCS \| Individual Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| EG \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	0	0
Greater than 2.50% \| Greater Than 150 Basis Points Above \| Momentum \| Group Retirement
Policyholder Account Balance [Line Items]
Policyholder account value	$ 0	$ 0

POLICYHOLDER ACCOUNT BALANCES S

POLICYHOLDER ACCOUNT BALANCES Separate Accounts Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	$ 114,853
Balance, end of the period	119,752
VUL \| Protection Solutions
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	13,187	$ 16,405
Premiums and deposits	287	283
Policy charges	(137)	(139)
Surrenders and withdrawals	(117)	(114)
Benefit payments	(24)	(54)
Investment performance (1)	843	(1,032)
Net transfers from (to) general account	45	(12)
Other charges	0
Balance, end of the period	14,084	15,337
Cash surrender value	13,755	15,022
GMxB Legacy \| Legacy Segment
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	32,616	44,912
Premiums and deposits	65	55
Policy charges	(178)	(183)
Surrenders and withdrawals	(660)	(771)
Benefit payments	(192)	(186)
Investment performance (1)	1,808	(2,932)
Net transfers from (to) general account	0	(4)
Other charges	0
Balance, end of the period	33,459	40,891
Cash surrender value	33,181	40,601
Momentum \| Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	3,885	4,975
Premiums and deposits	178	185
Policy charges	(5)	(5)
Surrenders and withdrawals	(157)	(210)
Benefit payments	(3)	(1)
Investment performance (1)	235	(326)
Net transfers from (to) general account	9	(23)
Other charges	0
Balance, end of the period	4,142	4,595
Cash surrender value	4,136	4,588
EG \| Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	22,393	27,509
Premiums and deposits	531	523
Policy charges	(4)	(4)
Surrenders and withdrawals	(359)	(356)
Benefit payments	(15)	(20)
Investment performance (1)	1,438	(1,874)
Net transfers from (to) general account	(69)	(109)
Other charges	25
Balance, end of the period	23,940	25,669
Cash surrender value	23,702	25,426
IE \| Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	3,798	4,287
Premiums and deposits	253	241
Policy charges	0	0
Surrenders and withdrawals	(95)	(68)
Benefit payments	(12)	(11)
Investment performance (1)	175	(257)
Net transfers from (to) general account	(140)	(39)
Other charges	0
Balance, end of the period	3,979	4,153
Cash surrender value	3,885	4,061
EI \| Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	4,161	5,583
Premiums and deposits	26	42
Policy charges	(1)	0
Surrenders and withdrawals	(100)	(88)
Benefit payments	(14)	(16)
Investment performance (1)	269	(380)
Net transfers from (to) general account	(3)	(10)
Other charges	4
Balance, end of the period	4,342	5,131
Cash surrender value	4,310	5,096
GMxB Core \| Individual Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	27,772	35,288
Premiums and deposits	256	441
Policy charges	(115)	(114)
Surrenders and withdrawals	(559)	(690)
Benefit payments	(56)	(70)
Investment performance (1)	1,202	(2,197)
Net transfers from (to) general account	49	38
Other charges	0
Balance, end of the period	28,549	32,696
Cash surrender value	27,680	$ 31,748
Others \| Group Retirement
Liability for Future Policy Benefit, Activity [Line Items]
Balance, beginning of the period	7,041
Balance, end of the period	$ 7,257

POLICYHOLDER ACCOUNT BALANCES_3

POLICYHOLDER ACCOUNT BALANCES - Aggregate Fair Value of Separate Account Assets (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 119,752	$ 114,853
Protection Solutions
Policyholder Account Balance [Line Items]
Separate Accounts assets	14,628		$ 13,716
Individual Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	38,146		36,896
Group Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	29,902		28,087
Corp & Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	3,608		3,529
Legacy Segment
Policyholder Account Balance [Line Items]
Separate Accounts assets	33,468	32,625
Debt securities
Policyholder Account Balance [Line Items]
Separate Accounts assets	90	84
Debt securities \| Protection Solutions
Policyholder Account Balance [Line Items]
Separate Accounts assets	63		58
Debt securities \| Individual Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	1		1
Debt securities \| Group Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	16		17
Debt securities \| Corp & Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	10		8
Debt securities \| Legacy Segment
Policyholder Account Balance [Line Items]
Separate Accounts assets	0	0
Common Stock
Policyholder Account Balance [Line Items]
Separate Accounts assets	2,253	2,189
Common Stock \| Protection Solutions
Policyholder Account Balance [Line Items]
Separate Accounts assets	51		41
Common Stock \| Individual Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	33		32
Common Stock \| Group Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	457		430
Common Stock \| Corp & Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,712		1,686
Common Stock \| Legacy Segment
Policyholder Account Balance [Line Items]
Separate Accounts assets	0	0
Mutual Funds
Policyholder Account Balance [Line Items]
Separate Accounts assets	116,160	111,395
Mutual Funds \| Protection Solutions
Policyholder Account Balance [Line Items]
Separate Accounts assets	14,400		13,498
Mutual Funds \| Individual Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	38,109		36,860
Mutual Funds \| Group Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	29,428		27,639
Mutual Funds \| Corp & Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	755		773
Mutual Funds \| Legacy Segment
Policyholder Account Balance [Line Items]
Separate Accounts assets	33,468	32,625
Bonds and Notes
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,249	1,185
Bonds and Notes \| Protection Solutions
Policyholder Account Balance [Line Items]
Separate Accounts assets	114		119
Bonds and Notes \| Individual Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	3		3
Bonds and Notes \| Group Retirement
Policyholder Account Balance [Line Items]
Separate Accounts assets	1		1
Bonds and Notes \| Corp & Other
Policyholder Account Balance [Line Items]
Separate Accounts assets	1,131		$ 1,062
Bonds and Notes \| Legacy Segment
Policyholder Account Balance [Line Items]
Separate Accounts assets	$ 0	$ 0

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
Retirement Benefits [Abstract]
Service cost	$ 2	$ 2
Interest cost	31	14
Expected return on assets	(39)	(39)
Prior period service cost amortization	(1)	(1)
Actuarial (gain) loss	0	0
Net amortization	9	20
Impact of settlement	0	0
Net Periodic Pension Expense	$ 2	$ (4)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Valuation allowance	$ 614	$ 1,600
Decrease in valuation allowances	341
Valuation allowance partial release	$ 614

EQUITY - Preferred Stock Activi

EQUITY - Preferred Stock Activity (Details) - shares	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	64,000	64,000
Preferred stock, shares issued (in shares)	64,000	64,000
Preferred stock, shares outstanding (in shares)	64,000	64,000
Series A
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	32,000	32,000
Preferred stock, shares issued (in shares)	32,000	32,000
Preferred stock, shares outstanding (in shares)	32,000	32,000
Series B
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	20,000	20,000
Preferred stock, shares issued (in shares)	20,000	20,000
Preferred stock, shares outstanding (in shares)	20,000	20,000
Series C
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	12,000	12,000
Preferred stock, shares issued (in shares)	12,000	12,000
Preferred stock, shares outstanding (in shares)	12,000	12,000

EQUITY - Dividends Declared (De

EQUITY - Dividends Declared (Details) - $ / shares	3 Months Ended
EQUITY - Dividends Declared (Details) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Class of Stock [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.20	$ 0.18
Series A
Class of Stock [Line Items]
Cash dividends declared per preferred stock (in dollars per share)	328	328
Series B
Class of Stock [Line Items]
Cash dividends declared per preferred stock (in dollars per share)	0	0
Series C
Class of Stock [Line Items]
Cash dividends declared per preferred stock (in dollars per share)	$ 269	$ 269

EQUITY - Share Repurchase - Nar

EQUITY - Share Repurchase - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
EQUITY - Share Repurchase - Narrative (Details) - USD ($)	Jan. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Feb. 09, 2023	Feb. 09, 2022
Class of Stock [Line Items]
Share repurchase plan, authorized amount				$ 700,000,000	$ 1,200,000,000
Share repurchase program, remaining authorized repurchase amount		$ 870,000,000
Shares repurchased (in shares)		4,500,000	7,900,000
Accelerated Share Repurchase Agreement
Class of Stock [Line Items]
Shares repurchased (in shares)		7,300,000	8,600,000
Share repurchases, average purchase price (in dollars per share)		$ 29.16	$ 31.96
Accelerated Share Repurchase Agreement, January 2023
Class of Stock [Line Items]
Share repurchase plan, authorized amount	$ 75,000,000
Shares repurchased (in shares)	2,000,000
Accelerated share repurchases, settlement payment	$ 75,000,000
Additional shares received (in shares)		424,000

EQUITY - Cumulative Gains (Loss

EQUITY - Cumulative Gains (Losses) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2020
Equity [Abstract]
Unrealized gains (losses) on investments	$ (7,917)	$ (9,324)
Market risk benefits - instrument-specific credit risk component	1,855	668	$ 23,784
Liability for future policy benefits - current discount rate component	213	355
Defined benefit pension plans	(629)	(650)
Foreign currency translation adjustments	(85)	(91)
Total accumulated other comprehensive income (loss)	(6,563)	(9,042)
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest	(47)	(50)
Accumulated other comprehensive income (loss) attributable to Holdings	$ (6,516)	$ (8,992)

EQUITY - Components of OCI, Net

EQUITY - Components of OCI, Net of Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2020
Equity [Abstract]
Net unrealized gains (losses) arising during the period	$ 1,571	$ (5,080)
(Gains) losses reclassified into net income (loss) during the period	63	264
Net unrealized gains (losses) on investments	1,634	(4,816)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	(8)	139
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $341 and $(1,244))	1,626	(4,677)
Market risk benefits - changes in instrument-specific credit risk (net of deferred income tax expense (benefit) of $249 and $418)	938	1,573
Liability for future policy benefits - changes in current discount rate (net of deferred income tax expense (benefit) of $(30) and $123)	(112)	462	$ 8,470
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost	20	43
Change in defined benefit plans (net of deferred income tax expense (benefit) of $(9) and $9)	20	43
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period	6	(12)
Foreign currency translation adjustment	6	(12)
Total other comprehensive income (loss), net of income taxes	2,478	(2,611)
Less: Other comprehensive income (loss) attributable to noncontrolling interest	2	(4)
Other comprehensive income (loss) attributable to Holdings	2,476	(2,607)
Change in net unrealized gains (losses) on investments	341	(1,244)
Changes in the instrument-specific credit risk	249	418
Liability for future policy benefit, expected net premium, before reinsurance, after discount rate change	(30)	123
Defined benefit plan, OCI, tax	(6)	(9)
Reclassification adjustment	$ (17)	$ (70)

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Short-term Debt Narrative (Details) - Senior Notes $ in Millions	Jan. 11, 2023 USD ($)
Short-term Debt [Line Items]
Short-term debt including accrued interest	$ 500
Debt instrument, face amount	$ 5
Debt instrument, stated percentage	5.594%
Redemption price, percentage	100%

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST - Summary of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023		Mar. 31, 2022
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of the period	$ 455	[1],[2]	$ 468
Net earnings (loss) attributable to redeemable noncontrolling interests	12		(27)
Purchase/change of redeemable noncontrolling interests	146		(55)
Balance, end of the period	$ 613	[1],[2]	$ 386

[1]See Note 15 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.(3) Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.[2]See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) shares in Millions	1 Months Ended
	Apr. 30, 2019 USD ($) shares	Mar. 31, 2023 USD ($)	Feb. 29, 2016 USD ($) federalAction legalAction
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses		$ 250,000,000
Federal home loan bank stock		388,000,000
Carrying value of collateral pledged for federal home loan bank		13,000,000,000
Commitments by the Company to provide equity financing		1,300,000,000
Face amount of mortgage loans		764,000,000
Revolving Credit Facility
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		17,000,000
Trust Notes
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		$ 10,000,000,000
Equitable Financial
Loss Contingencies [Line Items]
Number of federal actions \| federalAction			3
Pre-Capitalized Trust Securities, Redeemable February 15, 2029
Loss Contingencies [Line Items]
Shares issued (in shares) \| shares	0.6
Proceeds from offering	$ 600,000,000
Sale of stock, funding arrangement, period to issue senior notes to trust	10 years
Sale of stock, semi-annual facility fee, rate	2.125%
Pre-Capitalized Trust Securities, Redeemable February 15, 2049
Loss Contingencies [Line Items]
Shares issued (in shares) \| shares	0.4
Proceeds from offering	$ 400,000,000
Sale of stock, funding arrangement, period to issue senior notes to trust	30 years
Sale of stock, semi-annual facility fee, rate	2.715%
New York \| Equitable Financial
Loss Contingencies [Line Items]
Number of actions \| legalAction			2
Brach Family Foundation Litigation
Loss Contingencies [Line Items]
Liability for future policy benefits, face value of policy			$ 1,000,000

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - Funding Agreements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Long-term Agreements Maturing Within One Year	$ 0
Long-term Agreements Maturing Within Five Years	0
Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	8,501
Issued During the Period	14,066
Repaid During the Period	(14,201)
Outstanding Balance, period end	8,366
Difference related to remaining amortization	3	$ 4
Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	7,085
Issued During the Period	300
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	7
Outstanding Balance, period end	7,392
Difference related to remaining amortization	25	$ 66
Due in one year or less \| Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	6,130
Issued During the Period	14,066
Repaid During the Period	(14,201)
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	5,995
Due in one year or less \| Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,500
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	0
Outstanding Balance, period end	1,500
Due in years two through five \| Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,679
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	1,679
Due in years two through five \| Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	4,000
Issued During the Period	300
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	750
Foreign Currency Transaction Adjustment	0
Outstanding Balance, period end	5,050
Due in more than five years \| Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	692
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	692
Due in more than five years \| Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,585
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	(750)
Foreign Currency Transaction Adjustment	7
Outstanding Balance, period end	842
Total long-term funding agreements \| Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	2,371
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	2,371
Total long-term funding agreements \| Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	5,585
Issued During the Period	300
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	7
Outstanding Balance, period end	$ 5,892

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Narrative (Details)	3 Months Ended
BUSINESS SEGMENT INFORMATION - Narrative (Details)	Mar. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	6

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Net income (loss) attributable to Holdings	$ 177	$ 530
Adjustments related to:
Non-GAAP Operating Earnings	364	499
Legal expense		59
Policyholders’ benefits	730	802
Interest expense	61	47
Adjustments
Adjustments related to:
Variable annuity product features	861	(616)
Investment (gains) losses	87	326
Net actuarial (gains) losses related to pension and other postretirement benefit obligations	9	19
Other adjustments	45	228
Income tax expense (benefit) related to above adjustments	(210)	9
Non-recurring tax items	(605)	3
Policyholders’ benefits		75
Operating Segments \| Individual Retirement
Adjustments related to:
Non-GAAP Operating Earnings	200	203
Operating Segments \| Group Retirement
Adjustments related to:
Non-GAAP Operating Earnings	89	144
Operating Segments \| Investment Management and Research
Adjustments related to:
Non-GAAP Operating Earnings	99	136
Operating Segments \| Protection Solutions
Adjustments related to:
Non-GAAP Operating Earnings	(35)	(3)
Operating Segments \| Wealth Management
Adjustments related to:
Non-GAAP Operating Earnings	32	32
Operating Segments \| Legacy
Adjustments related to:
Non-GAAP Operating Earnings	60	63
Corporate and Other
Adjustments related to:
Non-GAAP Operating Earnings	(81)	(76)
Interest expense	$ 67	$ 53

BUSINESS SEGMENT INFORMATION _3

BUSINESS SEGMENT INFORMATION - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 2,357	$ 3,146
Adjustments related to:
Interest expense	61	47
Operating Segments \| Individual Retirement
Segment Reporting Information [Line Items]
Total revenues	588	507
Operating Segments \| Group Retirement
Segment Reporting Information [Line Items]
Total revenues	237	335
Operating Segments \| Investment Management and Research
Segment Reporting Information [Line Items]
Total revenues	1,009	1,135
Operating Segments \| Protection Solutions
Segment Reporting Information [Line Items]
Total revenues	767	809
Operating Segments \| Wealth Management
Segment Reporting Information [Line Items]
Total revenues	362	376
Operating Segments \| Legacy
Segment Reporting Information [Line Items]
Total revenues	206	215
Corporate and Other
Segment Reporting Information [Line Items]
Total revenues	281	223
Adjustments related to:
Interest expense	67	53
Adjustments
Adjustments related to:
Variable annuity product features	(861)	616
Investment gains (losses), net	(87)	(326)
Other adjustments to segment revenues	35	(545)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues	(180)	(199)
Adjustments related to:
Investment expenses	38	27
Interest expense	9	0
Intersegment Eliminations \| Investment Management and Other Fees
Adjustments related to:
Revenues	(43)	(33)
Intersegment Eliminations \| Wealth Management
Adjustments related to:
Expense related to distribution fees	$ 175	$ 193

BUSINESS SEGMENT INFORMATION _4

BUSINESS SEGMENT INFORMATION - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 261,500	$ 252,702
Operating Segments \| Individual Retirement
Segment Reporting Information [Line Items]
Total assets	77,922	77,641
Operating Segments \| Group Retirement
Segment Reporting Information [Line Items]
Total assets	44,171	42,421
Operating Segments \| Investment Management and Research
Segment Reporting Information [Line Items]
Total assets	11,864	12,633
Operating Segments \| Protection Solutions
Segment Reporting Information [Line Items]
Total assets	37,845	37,224
Operating Segments \| Wealth Management
Segment Reporting Information [Line Items]
Total assets	174	137
Operating Segments \| Legacy
Segment Reporting Information [Line Items]
Total assets	49,804	48,231
Corporate and Other
Segment Reporting Information [Line Items]
Total assets	$ 39,720	$ 34,415

INSURANCE GROUP STATUTORY FIN_2

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) prescribedAndPermittedPractice	Sep. 30, 2022	Jun. 30, 2021 USD ($)
Related Party Transaction [Line Items]
Number of prescribed and permitted practices \| prescribedAndPermittedPractice	3
Statement of Statutory Accounting Principles 108
Related Party Transaction [Line Items]
Statutory accounting practices, statutory surplus, increase	$ 63,000,000
Statutory accounting practices, statutory net income, decrease	$ 22,000,000
Statutory accounting practices, hedging losses amortization period	5 years
Statutory accounting practices, statutory unassigned surplus, balance			$ 0
Regulation Number 213
Related Party Transaction [Line Items]
Statutory accounting practices, statutory net income, increase (decrease) to new standard application	$ (300,000,000)
Statutory accounting practices, statutory surplus, increase (decrease) to new standard application	(2,200,000,000)
Statutory accounting practices, total asset required, percentage		100%
Regulation Number 213 with Seperate Accounts
Related Party Transaction [Line Items]
Statutory accounting practices, statutory net income, increase (decrease) to new standard application	157,000,000
Statutory accounting practices, statutory surplus, increase (decrease) to new standard application	$ 2,000,000,000

EARNINGS PER COMMON SHARE - Bas

EARNINGS PER COMMON SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Weighted average number of shares outstanding - basic (in shares)	361.9	388.6
Effect of dilutive securities common shares, employee stock awards (in shares)	2.2	3.1
Diluted (in shares)	364.1	391.7
Net income (loss)	$ 266	$ 597
Less: Net income (loss) attributable to the noncontrolling interest	89	67
Net income (loss) attributable to Holdings	177	530
Less: Preferred stock dividends	14	14
Net income (loss) available to Holdings’ common shareholders	163	516
Net income (loss) available to Holdings’ common shareholders	$ 163	$ 516
Earnings per common share:
Basic (in dollars per share)	$ 0.45	$ 1.33
Diluted (in dollars per share)	$ 0.45	$ 1.32

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Antidilutive securities (in shares)	2.5	3.3

HELD-FOR-SALE - Narrative (Deta

HELD-FOR-SALE - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
HELD-FOR-SALE - Narrative (Details) - USD ($) $ in Millions	Nov. 22, 2022	Mar. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest in joint venture expected	100%
Interest in joint venture maximum limit expected period	5 years
Non cash valuation adjustment		$ 3	$ 7
AB Holding
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest in joint venture	49%
Societe Generale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest in joint venture	51%

HELD-FOR-SALE - Assets and Liab

HELD-FOR-SALE - Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Goodwill and other intangible assets, net	$ 5,478	$ 5,482
Total assets held-for-sale	671	562
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Total liabilities held-for-sale	158	108
Corporate Solutions Life Reinsurance Company (CS Life) \| Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Cash and cash equivalents	154	159
Broker-dealer related receivables	94	74
Trading securities, at fair value	16	25
Goodwill and other intangible assets, net	165	175
Other assets	242	129
Total assets held-for-sale	671	562
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Broker-dealer related payables	43	33
Customers related payables	32	10
Other liabilities	83	65
Total liabilities held-for-sale	158	108
Other real estate, valuation adjustments	$ (10)	$ (7)

REINSURANCE - Effects of Reinsu

REINSURANCE - Effects of Reinsurance (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Premiums
Direct premiums	$ 290	$ 250
Reinsurance assumed	52	50
Reinsurance ceded	(66)	(53)
Premiums	276	247
Direct charges and fee income	777	834
Reinsurance ceded	(189)	(184)
Policy charges and fee income	588	650
Direct policyholders’ benefits	859	917
Reinsurance assumed	36	55
Reinsurance ceded	(165)	(170)
Policyholders’ benefits	730	802
Direct interest credited to policyholders’ account balances	464	338
Reinsurance ceded	(1)	(25)
Interest credited to policyholders’ account balances	$ 463	$ 313

REINSURANCE - Narrative (Detail

REINSURANCE - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
REINSURANCE - Narrative (Details) - USD ($) $ in Thousands	Oct. 03, 2022	Mar. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance, per life, single lives, amount retained		$ 25,000
Reinsurance, per life, joint lives, amount retained		$ 30,000
Reinsurance retention policy, percentage of excess reinsured		100%
Number of Employees, Total \| Reinsurance Transaction
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Deferred variable annuity	$ 360
Global Atlantic Transaction \| Number of Employees, Total \| Reinsurance Transaction
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Concentration risk, percentage	50%

REINSURANCE - Ceded Reinsurance

REINSURANCE - Ceded Reinsurance (Details) - USD ($) $ in Millions		Mar. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Estimated net fair values of purchased market risk benefits		$ 10,676	$ 10,423
Third-party reinsurance recoverables related to insurance contracts	[1]	8,453	8,471
Amount due to reinsurers		1,428	1,533
Amount due to reinsurers		1,428	1,533
Group Life And Health Insurance
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		48	47
Reinsurance assumed reserves		694	701
First Allmerica-GAF
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		3,933	4,005
Amount due to reinsurers		71	147
Zurich Life Insurance Company, Ltd.
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		1,401	1,416
RGA Reinsurance Company
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables related to insurance contracts		1,301	1,272
Amount due to reinsurers		1,175	1,171
Protective Life Insurance Company
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Amount due to reinsurers		$ 103	$ 104

[1]Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) shares in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) shares in Thousands	Apr. 30, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2021	Feb. 09, 2023	Jan. 11, 2023	Feb. 09, 2022	Apr. 20, 2018
Subsequent Event [Line Items]
Share repurchase plan, authorized amount					$ 700,000,000		$ 1,200,000,000
Shares repurchased (in shares)		4,500	7,900
Senior Notes
Subsequent Event [Line Items]
Principal amount						$ 500,000,000
Debt instrument, stated percentage						5.594%
Senior Notes (3.9%, due 2023) \| Senior Notes
Subsequent Event [Line Items]
Principal amount								$ 800,000,000
Debt instrument, stated percentage				3.90%				3.90%
Repayments of short-term debt				$ 280,000,000
Accelerated Share Repurchase Agreement
Subsequent Event [Line Items]
Shares repurchased (in shares)		7,300	8,600
Accelerated Share Repurchase Agreement \| Subsequent Event
Subsequent Event [Line Items]
Share repurchase plan, authorized amount	$ 75,000,000
Accelerated share repurchases, settlement payment	$ 75,000,000
Shares repurchased (in shares)	2,400
Additional shares received (in shares)	598

Uncategorized Items - eqh-20230

Label	Element	Value
Previously Reported [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	$ 7,341,000,000
Payout Legacy [Member] \| Individual Retirement [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	3,407,000,000
Payout Legacy [Member] \| Previously Reported [Member] \| Individual Retirement [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	3,047,000,000
Term [Member] \| Protection Solutions [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	1,983,000,000
Term [Member] \| Previously Reported [Member] \| Protection Solutions [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	1,423,000,000
Group Pension [Member] \| Corporate and Other [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	780,000,000
Group Pension [Member] \| Previously Reported [Member] \| Corporate and Other [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	771,000,000
Health [Member] \| Corporate and Other [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	2,300,000,000
Health [Member] \| Previously Reported [Member] \| Corporate and Other [Member]
Liability for Future Policy Benefit, Expected Future Policy Benefit, before Reinsurance, after Discount Rate Change	us-gaap_LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeReinsuranceAfterDiscountRateChange	$ 2,100,000,000