Q22024FALSE0000835357--12-31xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesefloa:issuexbrli:pureefloa:prescribed_and_permitted_practice00008353572024-01-012024-06-3000008353572024-08-0900008353572024-06-3000008353572023-12-3100008353572024-04-012024-06-3000008353572023-04-012023-06-3000008353572023-01-012023-06-300000835357us-gaap:CommonStockMember2024-03-310000835357us-gaap:AdditionalPaidInCapitalMember2024-03-310000835357us-gaap:RetainedEarningsMember2024-03-310000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-3100008353572024-03-310000835357us-gaap:RetainedEarningsMember2024-04-012024-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-04-012024-06-300000835357us-gaap:CommonStockMember2024-06-300000835357us-gaap:AdditionalPaidInCapitalMember2024-06-300000835357us-gaap:RetainedEarningsMember2024-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300000835357us-gaap:CommonStockMember2023-03-310000835357us-gaap:AdditionalPaidInCapitalMember2023-03-310000835357us-gaap:RetainedEarningsMember2023-03-310000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100008353572023-03-310000835357us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300000835357us-gaap:RetainedEarningsMember2023-04-012023-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000835357us-gaap:CommonStockMember2023-06-300000835357us-gaap:AdditionalPaidInCapitalMember2023-06-300000835357us-gaap:RetainedEarningsMember2023-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-3000008353572023-06-300000835357us-gaap:CommonStockMember2023-12-310000835357us-gaap:AdditionalPaidInCapitalMember2023-12-310000835357us-gaap:RetainedEarningsMember2023-12-310000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000835357us-gaap:RetainedEarningsMember2024-01-012024-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-06-300000835357us-gaap:AdditionalPaidInCapitalMember2024-01-012024-06-300000835357us-gaap:CommonStockMember2022-12-310000835357us-gaap:AdditionalPaidInCapitalMember2022-12-310000835357us-gaap:RetainedEarningsMember2022-12-310000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100008353572022-12-310000835357us-gaap:AdditionalPaidInCapitalMember2023-01-012023-06-300000835357us-gaap:RetainedEarningsMember2023-01-012023-06-300000835357us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000835357efloa:ConsolidatedLimitedPartnershipsMember2024-06-300000835357efloa:ConsolidatedLimitedPartnershipsMember2023-12-310000835357efloa:NonConsolidatedVairableInterestEntitiesVIEMember2024-06-300000835357efloa:NonConsolidatedVairableInterestEntitiesVIEMember2023-12-310000835357us-gaap:FixedMaturitiesMember2024-06-300000835357us-gaap:FixedMaturitiesMember2023-12-310000835357us-gaap:FixedMaturitiesMember2024-04-012024-06-300000835357us-gaap:FixedMaturitiesMember2024-01-012024-06-300000835357us-gaap:FixedMaturitiesMember2023-04-012023-06-300000835357us-gaap:FixedMaturitiesMember2023-01-012023-06-300000835357us-gaap:CorporateDebtSecuritiesMember2024-06-300000835357us-gaap:USTreasuryAndGovernmentMember2024-06-300000835357us-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000835357us-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300000835357us-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:CorporateDebtSecuritiesMember2023-12-310000835357us-gaap:USTreasuryAndGovernmentMember2023-12-310000835357us-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000835357us-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000835357us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-03-310000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-03-310000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-03-310000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-03-310000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-04-012024-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-04-012024-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-04-012024-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-04-012024-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2024-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2024-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2024-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2024-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2024-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2024-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2024-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2024-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-03-310000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-03-310000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-03-310000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-03-310000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-04-012023-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-04-012023-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-04-012023-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-04-012023-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2023-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2023-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2023-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsExcludingCreditLossesMember2023-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2023-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2023-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2023-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:NetUnrealizedGainsLossesOnInvestmentsIncludingCreditLossesMember2023-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-12-310000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-12-310000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-12-310000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-12-310000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-01-012024-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-01-012024-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-01-012024-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2024-01-012024-06-300000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2022-12-310000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2022-12-310000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2022-12-310000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2022-12-310000835357efloa:NetUnrealizedGainsLossesOnInvestmentsMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-01-012023-06-300000835357efloa:PolicyholdersLiabilitiesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-01-012023-06-300000835357efloa:DeferredIncomeTaxAssetLiabilityMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-01-012023-06-300000835357efloa:AOCIGainLossRelatedToNetUnrealizedInvestmentGainsLossesMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMemberefloa:UnrealizedInvestmentGainsLossesAllOtherMember2023-01-012023-06-300000835357us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:FixedMaturitiesMember2024-06-300000835357us-gaap:ExternalCreditRatingNonInvestmentGradeMemberus-gaap:FixedMaturitiesMember2023-12-310000835357efloa:CommercialAndResidentialMortgageLoansMember2024-06-300000835357efloa:CommercialAndResidentialMortgageLoansMember2023-12-310000835357efloa:CommercialAndResidentialMortgageLoansMember2024-04-012024-06-300000835357efloa:CommercialAndResidentialMortgageLoansMember2023-01-012023-06-300000835357efloa:CommercialAndResidentialMortgageLoansMember2023-04-012023-06-300000835357efloa:CommercialAndResidentialMortgageLoansMember2024-01-012024-06-300000835357efloa:IndividuallyAssessedMortgageLoansMember2024-06-300000835357efloa:IndividuallyAssessedMortgageLoansMember2023-12-310000835357us-gaap:CommercialLoanMember2024-03-310000835357us-gaap:CommercialLoanMember2023-03-310000835357us-gaap:CommercialLoanMember2023-12-310000835357us-gaap:CommercialLoanMember2022-12-310000835357us-gaap:CommercialLoanMember2024-04-012024-06-300000835357us-gaap:CommercialLoanMember2023-04-012023-06-300000835357us-gaap:CommercialLoanMember2024-01-012024-06-300000835357us-gaap:CommercialLoanMember2023-01-012023-06-300000835357us-gaap:CommercialLoanMember2024-06-300000835357us-gaap:CommercialLoanMember2023-06-300000835357us-gaap:ResidentialMortgageMember2024-03-310000835357us-gaap:ResidentialMortgageMember2023-03-310000835357us-gaap:ResidentialMortgageMember2023-12-310000835357us-gaap:ResidentialMortgageMember2022-12-310000835357us-gaap:ResidentialMortgageMember2024-04-012024-06-300000835357us-gaap:ResidentialMortgageMember2023-04-012023-06-300000835357us-gaap:ResidentialMortgageMember2024-01-012024-06-300000835357us-gaap:ResidentialMortgageMember2023-01-012023-06-300000835357us-gaap:ResidentialMortgageMember2024-06-300000835357us-gaap:ResidentialMortgageMember2023-06-300000835357efloa:A0To50Memberus-gaap:CommercialLoanMember2024-06-300000835357efloa:A50To70Memberus-gaap:CommercialLoanMember2024-06-300000835357efloa:A70To90Memberus-gaap:CommercialLoanMember2024-06-300000835357efloa:GreaterThan90Memberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioGreaterThan2TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioBetween18To2TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioBetween15To18TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioBetween12To15TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioBetween1To12TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:RatioLessThan1TimesMultipleMemberus-gaap:CommercialLoanMember2024-06-300000835357efloa:A0To50Memberus-gaap:CommercialLoanMember2023-12-310000835357efloa:A50To70Memberus-gaap:CommercialLoanMember2023-12-310000835357efloa:A70To90Memberus-gaap:CommercialLoanMember2023-12-310000835357efloa:GreaterThan90Memberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioGreaterThan2TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioBetween18To2TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioBetween15To18TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioBetween12To15TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioBetween1To12TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357efloa:RatioLessThan1TimesMultipleMemberus-gaap:CommercialLoanMember2023-12-310000835357us-gaap:PerformingFinancingReceivableMemberus-gaap:ResidentialMortgageMember2024-06-300000835357us-gaap:NonperformingFinancingReceivableMemberus-gaap:ResidentialMortgageMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancialAssetPastDueMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetPastDueMember2024-06-300000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2024-06-300000835357us-gaap:FinancingReceivables30To59DaysPastDueMember2024-06-300000835357us-gaap:FinancingReceivables60To89DaysPastDueMember2024-06-300000835357us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-06-300000835357us-gaap:FinancialAssetPastDueMember2024-06-300000835357us-gaap:FinancialAssetNotPastDueMember2024-06-300000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000835357us-gaap:CommercialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000835357us-gaap:CommercialLoanMemberus-gaap:FinancialAssetPastDueMember2023-12-310000835357us-gaap:CommercialLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000835357us-gaap:CommercialLoanMember2023-01-012023-12-310000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetPastDueMember2023-12-310000835357us-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310000835357us-gaap:ResidentialMortgageMember2023-01-012023-12-310000835357us-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310000835357us-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310000835357us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310000835357us-gaap:FinancialAssetPastDueMember2023-12-310000835357us-gaap:FinancialAssetNotPastDueMember2023-12-3100008353572023-01-012023-12-310000835357efloa:MortgageLoansMember2024-06-300000835357efloa:MortgageLoansMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMember2023-12-310000835357us-gaap:FixedMaturitiesMember2024-04-012024-06-300000835357us-gaap:FixedMaturitiesMember2023-04-012023-06-300000835357us-gaap:FixedMaturitiesMember2024-01-012024-06-300000835357us-gaap:FixedMaturitiesMember2023-01-012023-06-300000835357us-gaap:MortgagesMember2024-04-012024-06-300000835357us-gaap:MortgagesMember2023-04-012023-06-300000835357us-gaap:MortgagesMember2024-01-012024-06-300000835357us-gaap:MortgagesMember2023-01-012023-06-300000835357us-gaap:PolicyLoansMember2024-04-012024-06-300000835357us-gaap:PolicyLoansMember2023-04-012023-06-300000835357us-gaap:PolicyLoansMember2024-01-012024-06-300000835357us-gaap:PolicyLoansMember2023-01-012023-06-300000835357us-gaap:EquityMethodInvestmentsMember2024-04-012024-06-300000835357us-gaap:EquityMethodInvestmentsMember2023-04-012023-06-300000835357us-gaap:EquityMethodInvestmentsMember2024-01-012024-06-300000835357us-gaap:EquityMethodInvestmentsMember2023-01-012023-06-300000835357us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2024-04-012024-06-300000835357us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2023-04-012023-06-300000835357us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2024-01-012024-06-300000835357us-gaap:TradingAssetsExcludingDebtAndEquitySecuritiesMember2023-01-012023-06-300000835357us-gaap:OtherInvestmentsMember2024-04-012024-06-300000835357us-gaap:OtherInvestmentsMember2023-04-012023-06-300000835357us-gaap:OtherInvestmentsMember2024-01-012024-06-300000835357us-gaap:OtherInvestmentsMember2023-01-012023-06-300000835357efloa:EquityFuturesMember2024-06-300000835357efloa:EquityFuturesMember2023-12-310000835357us-gaap:StockOptionMember2024-06-300000835357us-gaap:StockOptionMember2023-12-310000835357efloa:InterestRateFuturesMember2024-06-300000835357efloa:InterestRateFuturesMember2023-12-310000835357efloa:MarginMember2024-06-300000835357efloa:MarginMember2023-12-310000835357us-gaap:CollateralizedSecuritiesMember2024-06-300000835357us-gaap:CollateralizedSecuritiesMember2023-12-310000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2024-06-300000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2023-12-310000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-06-300000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-12-310000835357efloa:FundsWithheldMember2024-06-300000835357efloa:FundsWithheldMember2023-12-310000835357efloa:ModcoMember2024-06-300000835357efloa:ModcoMember2023-12-310000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2024-06-300000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2023-12-310000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2024-06-300000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2023-12-310000835357efloa:EquityFuturesMember2024-04-012024-06-300000835357efloa:EquityFuturesMember2023-04-012023-06-300000835357efloa:EquityFuturesMember2024-01-012024-06-300000835357efloa:EquityFuturesMember2023-01-012023-06-300000835357us-gaap:StockOptionMember2024-04-012024-06-300000835357us-gaap:StockOptionMember2023-04-012023-06-300000835357us-gaap:StockOptionMember2024-01-012024-06-300000835357us-gaap:StockOptionMember2023-01-012023-06-300000835357efloa:InterestRateFuturesMember2024-04-012024-06-300000835357efloa:InterestRateFuturesMember2023-04-012023-06-300000835357efloa:InterestRateFuturesMember2024-01-012024-06-300000835357efloa:InterestRateFuturesMember2023-01-012023-06-300000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2024-04-012024-06-300000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2023-04-012023-06-300000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2024-01-012024-06-300000835357efloa:DerivativeInstrumentsExcludingEmbeddedDerivativeMember2023-01-012023-06-300000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-04-012024-06-300000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-04-012023-06-300000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-01-012024-06-300000835357efloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-01-012023-06-300000835357efloa:FundsWithheldMember2024-04-012024-06-300000835357efloa:FundsWithheldMember2023-04-012023-06-300000835357efloa:FundsWithheldMember2024-01-012024-06-300000835357efloa:FundsWithheldMember2023-01-012023-06-300000835357efloa:ModcoMember2024-04-012024-06-300000835357efloa:ModcoMember2023-04-012023-06-300000835357efloa:ModcoMember2024-01-012024-06-300000835357efloa:ModcoMember2023-01-012023-06-300000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2024-04-012024-06-300000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2023-04-012023-06-300000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2024-01-012024-06-300000835357us-gaap:EmbeddedDerivativeFinancialInstrumentsMember2023-01-012023-06-300000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2024-04-012024-06-300000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2023-04-012023-06-300000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2024-01-012024-06-300000835357efloa:DerivativeInstrumentsIncludingEmbeddedDerivativeMember2023-01-012023-06-300000835357efloa:SP500Russell1000NASDAQ100AndEmergingMarketIndicesMember2024-06-300000835357efloa:SP500Russell1000NASDAQ100AndEmergingMarketIndicesMember2023-12-310000835357efloa:UsTreasuryNotesUltraLongBondsAndEuroDollarMember2024-06-300000835357efloa:UsTreasuryNotesUltraLongBondsAndEuroDollarMember2023-12-310000835357us-gaap:DerivativeMember2024-06-300000835357efloa:SecuredLendingMember2024-06-300000835357efloa:OtherFinancialInstrumentsMember2024-06-300000835357efloa:OtherInvestedAssetsMember2024-06-300000835357efloa:OtherFinancialLiabilitiesMember2024-06-300000835357us-gaap:OtherLiabilitiesMember2024-06-300000835357us-gaap:DerivativeMember2023-12-310000835357efloa:SecuredLendingMember2023-12-310000835357efloa:OtherFinancialInstrumentsMember2023-12-310000835357efloa:OtherInvestedAssetsMember2023-12-310000835357efloa:OtherFinancialLiabilitiesMember2023-12-310000835357us-gaap:OtherLiabilitiesMember2023-12-310000835357us-gaap:VariableUniversalLifeMember2024-06-300000835357us-gaap:VariableUniversalLifeMember2023-12-310000835357efloa:IndexedUniversalLifeMember2024-06-300000835357efloa:IndexedUniversalLifeMember2023-12-310000835357efloa:GuaranteedBenefitsMember2024-06-300000835357efloa:GuaranteedBenefitsMember2023-12-310000835357efloa:InvestmentEdgeMember2024-06-300000835357efloa:InvestmentEdgeMember2023-12-310000835357efloa:StructuredCapitalStrategiesMember2024-06-300000835357efloa:StructuredCapitalStrategiesMember2023-12-310000835357efloa:OthersMember2024-06-300000835357efloa:OthersMember2023-12-310000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2023-12-310000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2023-12-310000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2023-12-310000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2023-12-310000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2023-12-310000835357us-gaap:CorporateMember2023-12-310000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2024-01-012024-06-300000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2024-01-012024-06-300000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2024-01-012024-06-300000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2024-01-012024-06-300000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2024-01-012024-06-300000835357us-gaap:CorporateMember2024-01-012024-06-300000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2024-06-300000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2024-06-300000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2024-06-300000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2024-06-300000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2024-06-300000835357us-gaap:CorporateMember2024-06-300000835357us-gaap:ProductAndServiceOtherMemberus-gaap:CorporateMember2024-01-012024-06-300000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2022-12-310000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2022-12-310000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2022-12-310000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2022-12-310000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2022-12-310000835357us-gaap:CorporateMember2022-12-310000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2023-01-012023-06-300000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2023-01-012023-06-300000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2023-01-012023-06-300000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2023-01-012023-06-300000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2023-01-012023-06-300000835357us-gaap:CorporateMember2023-01-012023-06-300000835357us-gaap:VariableUniversalLifeMemberus-gaap:CorporateMember2023-06-300000835357efloa:IndexedUniversalLifeMemberus-gaap:CorporateMember2023-06-300000835357efloa:GuaranteedBenefitsMemberus-gaap:CorporateMember2023-06-300000835357efloa:InvestmentEdgeMemberus-gaap:CorporateMember2023-06-300000835357efloa:StructuredCapitalStrategiesMemberus-gaap:CorporateMember2023-06-300000835357us-gaap:CorporateMember2023-06-300000835357us-gaap:VariableUniversalLifeMember2022-12-310000835357efloa:IndexedUniversalLifeMember2022-12-310000835357us-gaap:VariableUniversalLifeMember2024-01-012024-06-300000835357efloa:IndexedUniversalLifeMember2024-01-012024-06-300000835357us-gaap:VariableUniversalLifeMember2023-01-012023-06-300000835357efloa:IndexedUniversalLifeMember2023-01-012023-06-300000835357us-gaap:VariableUniversalLifeMember2023-06-300000835357efloa:IndexedUniversalLifeMember2023-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ShortTermInvestmentsMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2024-06-300000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2024-06-300000835357us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:PublicCorporateMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasuryAndGovernmentMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ForeignGovernmentDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberus-gaap:OptionMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:EmbeddedDerivativeNonGmxbInsuranceProductsMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2023-12-310000835357us-gaap:FairValueMeasurementsRecurringMemberefloa:ModcoReceivableNettingMember2023-12-310000835357us-gaap:FairValueMeasuredAtNetAssetValuePerShareMemberus-gaap:FairValueMeasurementsRecurringMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2024-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2024-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-03-310000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2024-03-310000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2024-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2024-04-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2024-04-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-04-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2024-04-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2024-04-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-03-310000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2023-03-310000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2023-03-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-04-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-04-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-04-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2023-04-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2023-04-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2024-01-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2024-01-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2024-01-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2024-01-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2024-01-012024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2022-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2022-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2022-12-310000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2022-12-310000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2022-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CorporateDebtSecuritiesMember2023-01-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-01-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:CommercialMortgageBackedSecuritiesMember2023-01-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:FundsWithheldMember2023-01-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:ModcoPayableMember2023-01-012023-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputCashFlowMultiplesMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputCashFlowMultiplesMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputLoanToValueMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputLoanToValueMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputEbitdaMultipleMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputCashFlowMultiplesMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputLoanToValueMemberefloa:MarketComparableCompaniesValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:DiscountedCashFlowValuationTechniqueMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRevenueMultipleMemberefloa:DiscountedCashFlowValuationTechniqueMemberus-gaap:EquityMethodInvestmentsMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRevenueMultipleMemberefloa:DiscountedCashFlowValuationTechniqueMemberus-gaap:EquityMethodInvestmentsMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRevenueMultipleMemberefloa:DiscountedCashFlowValuationTechniqueMemberus-gaap:EquityMethodInvestmentsMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeOneMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeOneMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeTwoMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeTwoMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeThreeMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeThreeMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357efloa:RangeOneMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputSpreadOverBenchmarkMemberefloa:MatrixPricingModelValuationTechniqueMemberus-gaap:CorporateDebtSecuritiesMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MinimumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:MaximumMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeOneMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeOneMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeTwoMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeTwoMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeThreeMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeThreeMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputNonperformanceRiskMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLapseRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputWithdrawalRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberefloa:MeasurementInputAnnuitizationRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357efloa:RangeOneMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputMortalityRateMemberefloa:DiscountedCashFlowValuationTechniqueMemberefloa:GuaranteedMinimumInsuranceBenefitsNoLapseGuaranteeMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2023-12-310000835357us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-06-300000835357us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000835357us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000835357us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000835357us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-06-300000835357us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000835357us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000835357us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000835357us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000835357us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000835357efloa:PayoutLegacyMember2024-06-300000835357efloa:PayoutLegacyMember2023-12-310000835357efloa:ULMember2024-06-300000835357efloa:ULMember2023-12-310000835357efloa:SubtotalProductsMember2024-06-300000835357efloa:SubtotalProductsMember2023-12-310000835357efloa:OtherPolicyholderFundsMember2024-06-300000835357efloa:OtherPolicyholderFundsMember2023-12-310000835357efloa:AllFuturePolicyholderBenefitsMember2024-06-300000835357efloa:AllFuturePolicyholderBenefitsMember2023-12-310000835357efloa:OtherPolicyholderFundsUnearnedRevenueLiabilityMember2024-06-300000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2023-12-310000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2022-12-310000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2024-01-012024-06-300000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2023-01-012023-06-300000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2024-06-300000835357efloa:PayoutLegacyMemberefloa:LegacySegmentMember2023-06-300000835357efloa:PayoutLegacyMember2024-01-012024-06-300000835357efloa:PayoutLegacyMember2023-01-012023-06-300000835357efloa:ULMemberefloa:ProtectionSolutionsMember2023-12-310000835357efloa:ULMemberefloa:ProtectionSolutionsMember2022-12-310000835357efloa:ULMemberefloa:ProtectionSolutionsMember2024-01-012024-06-300000835357efloa:ULMemberefloa:ProtectionSolutionsMember2023-01-012023-06-300000835357efloa:ULMemberefloa:ProtectionSolutionsMember2024-06-300000835357efloa:ULMemberefloa:ProtectionSolutionsMember2023-06-300000835357efloa:AssessmentsMemberefloa:ULMember2024-01-012024-06-300000835357efloa:InterestAccretionMemberefloa:ULMember2024-01-012024-06-300000835357efloa:AssessmentsMemberefloa:ULMember2023-01-012023-06-300000835357efloa:InterestAccretionMemberefloa:ULMember2023-01-012023-06-300000835357efloa:AssessmentsMember2024-01-012024-06-300000835357efloa:InterestAccretionMember2024-01-012024-06-300000835357efloa:AssessmentsMember2023-01-012023-06-300000835357efloa:InterestAccretionMember2023-01-012023-06-300000835357efloa:ULMember2023-06-300000835357us-gaap:UniversalLifeMember2024-06-300000835357us-gaap:UniversalLifeMember2023-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2024-03-310000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2024-03-310000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2023-03-310000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2023-03-310000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2024-04-012024-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2024-04-012024-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2023-04-012023-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2023-04-012023-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2024-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2024-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2023-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2023-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2023-12-310000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2023-12-310000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2022-12-310000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2022-12-310000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2024-01-012024-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2024-01-012024-06-300000835357efloa:GMxBCoreMemberefloa:IndividualRetirementMember2023-01-012023-06-300000835357efloa:GMxBLegacyMemberefloa:IndividualRetirementMember2023-01-012023-06-300000835357efloa:OthersMemberefloa:IndividualRetirementMember2024-06-300000835357efloa:OthersMemberefloa:IndividualRetirementMember2023-12-310000835357efloa:IndividualRetirementMember2024-06-300000835357efloa:IndividualRetirementMember2023-12-310000835357efloa:EQUIVESTIndividualMember2024-06-300000835357efloa:EQUIVESTIndividualMember2023-12-310000835357efloa:EQUIVESTGroupMember2024-06-300000835357efloa:EQUIVESTGroupMember2023-12-310000835357efloa:OtherNettingMember2024-06-300000835357efloa:OtherNettingMember2023-12-310000835357efloa:TotalNettingMember2024-06-300000835357efloa:TotalNettingMember2023-12-310000835357efloa:OtherModcoReinsuranceNettingMember2024-06-300000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2023-12-310000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2023-12-310000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2023-12-310000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2023-12-310000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2024-01-012024-06-300000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2024-01-012024-06-300000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2024-01-012024-06-300000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2024-01-012024-06-300000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2024-06-300000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2024-06-300000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2024-06-300000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2024-06-300000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2022-12-310000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2022-12-310000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2022-12-310000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2022-12-310000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2023-01-012023-06-300000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2023-01-012023-06-300000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2023-01-012023-06-300000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2023-01-012023-06-300000835357efloa:IndexedUniversalLifeMemberefloa:ProtectionSolutionsMember2023-06-300000835357efloa:EQUIVESTIndividualMemberefloa:IndividualRetirementMember2023-06-300000835357efloa:EQUIVESTGroupMemberefloa:GroupRetirementMember2023-06-300000835357efloa:StructuredCapitalStrategiesMemberefloa:GroupRetirementMember2023-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MaximumMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Membersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMembersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:UniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:UniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:IndexedUniversalLifeMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:IndexedUniversalLifeMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:EQUIVESTIndividualMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:EQUIVESTIndividualMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMembersrt:MaximumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:EQUIVESTGroupMember2024-06-300000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:EQUIVESTGroupMember2024-06-300000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Membersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Membersrt:MaximumMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Membersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMembersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberus-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberus-gaap:UniversalLifeMember2023-12-310000835357us-gaap:UniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMembersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:IndexedUniversalLifeMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:IndexedUniversalLifeMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMembersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:EQUIVESTIndividualMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:EQUIVESTIndividualMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMembersrt:MaximumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom000To150Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeFrom151To250Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMembersrt:MinimumMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceGuaranteedMinimumCreditingRateRangeGreaterThan250Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAtGuaranteedMinimumCreditingRateMemberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0001To0050Memberefloa:EQUIVESTGroupMember2023-12-310000835357us-gaap:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeFrom0051To0150Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:PolicyholderAccountBalanceAboveGuaranteedMinimumCreditingRateRangeGreaterThan0150Memberefloa:EQUIVESTGroupMember2023-12-310000835357efloa:GMxBCoreMember2024-06-300000835357efloa:GMxBCoreMember2023-12-310000835357efloa:ReinsuredMember2024-06-300000835357efloa:ReinsuredMember2023-12-310000835357efloa:GMxBCoreMember2024-01-012024-06-300000835357efloa:InvestmentEdgeMember2024-01-012024-06-300000835357efloa:ReinsuredMember2024-01-012024-06-300000835357efloa:GMxBCoreMember2022-12-310000835357efloa:InvestmentEdgeMember2022-12-310000835357efloa:ReinsuredMember2022-12-310000835357efloa:GMxBCoreMember2023-01-012023-06-300000835357efloa:InvestmentEdgeMember2023-01-012023-06-300000835357efloa:ReinsuredMember2023-01-012023-06-300000835357efloa:GMxBCoreMember2023-06-300000835357efloa:InvestmentEdgeMember2023-06-300000835357efloa:ReinsuredMember2023-06-300000835357efloa:ProtectionSolutionsMemberefloa:SeparateAccountMutualFundMember2024-06-300000835357efloa:IndividualRetirementMemberefloa:SeparateAccountMutualFundMember2024-06-300000835357efloa:GroupRetirementMemberefloa:SeparateAccountMutualFundMember2024-06-300000835357efloa:OthersMemberefloa:SeparateAccountMutualFundMember2024-06-300000835357efloa:SeparateAccountMutualFundMember2024-06-300000835357efloa:ProtectionSolutionsMember2024-06-300000835357efloa:IndividualRetirementMember2024-06-300000835357efloa:GroupRetirementMember2024-06-300000835357efloa:ProtectionSolutionsMemberefloa:SeparateAccountMutualFundMember2023-12-310000835357efloa:IndividualRetirementMemberefloa:SeparateAccountMutualFundMember2023-12-310000835357efloa:OthersMemberefloa:SeparateAccountMutualFundMember2023-12-310000835357efloa:SeparateAccountMutualFundMember2023-12-310000835357efloa:ProtectionSolutionsMember2023-12-310000835357efloa:IndividualRetirementMember2023-12-310000835357us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2024-06-300000835357us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2023-12-310000835357efloa:AccumulatedGainLossFinancialLiabilityMarketRiskBenefitAttributableToParentMember2024-06-300000835357efloa:AccumulatedGainLossFinancialLiabilityMarketRiskBenefitAttributableToParentMember2023-12-310000835357efloa:AccumulatedGainLossFinancialLiabilityLiabilityForFuturePolicyBenefitAttributableToParentMember2024-06-300000835357efloa:AccumulatedGainLossFinancialLiabilityLiabilityForFuturePolicyBenefitAttributableToParentMember2023-12-310000835357us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300000835357us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2023-12-310000835357us-gaap:SecuredDebtMember2023-12-310000835357us-gaap:SecuredDebtMember2024-06-300000835357efloa:FundingAgreementBackedCommercialPaperProgramMemberus-gaap:CommercialPaperMember2023-05-310000835357efloa:StatementOfStatutoryAccountingPrinciples108Member2024-06-300000835357efloa:StatementOfStatutoryAccountingPrinciples108Member2024-01-012024-06-300000835357efloa:VariableUniversalTermLifeInsuranceSingleLifeMember2024-01-012024-06-300000835357efloa:VariableUniversalTermLifeInsuranceSecondToDieLifeMember2024-01-012024-06-300000835357efloa:EquitableFinancialLifeInsuranceCompanyMemberefloa:VariableUniversalTermLifeInsuranceSingleLifeMember2024-06-300000835357efloa:EquitableFinancialLifeInsuranceCompanyMemberefloa:VariableUniversalTermLifeInsuranceSecondToDieLifeMember2024-06-300000835357us-gaap:CarryingReportedAmountFairValueDisclosureMemberefloa:EquitableFinancialLifeInsuranceCompanyMember2024-06-300000835357us-gaap:EstimateOfFairValueFairValueDisclosureMemberefloa:EquitableFinancialLifeInsuranceCompanyMember2024-06-300000835357us-gaap:CarryingReportedAmountFairValueDisclosureMemberefloa:EquitableFinancialLifeInsuranceCompanyMember2023-12-310000835357us-gaap:EstimateOfFairValueFairValueDisclosureMemberefloa:EquitableFinancialLifeInsuranceCompanyMember2023-12-310000835357srt:ScenarioPreviouslyReportedMember2023-06-300000835357srt:RestatementAdjustmentMember2023-06-300000835357srt:ScenarioPreviouslyReportedMember2023-04-012023-06-300000835357srt:RestatementAdjustmentMember2023-04-012023-06-300000835357srt:ScenarioPreviouslyReportedMember2023-01-012023-06-300000835357srt:RestatementAdjustmentMember2023-01-012023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2023-03-310000835357srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2023-03-310000835357srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2022-12-310000835357srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2022-12-310000835357srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2023-04-012023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2023-04-012023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2023-01-012023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2023-01-012023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:RetainedEarningsMember2023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:RetainedEarningsMember2023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000835357srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-310000835357srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000835357srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000835357srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300000835357srt:ScenarioPreviouslyReportedMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000835357srt:RestatementAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300000835357us-gaap:SubsequentEventMember2024-07-012024-07-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

———————————————

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 333-65423

————————————————

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

(Exact name of registrant as specified in its charter)


Arizona						86-0222062
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

8501 IBM Drive, Charlotte, NC						28262
(Address of principal executive offices)						(Zip Code)

(212) 554-1234

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an “emerging growth company”. See definition of “accelerated filer,” “large accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☐

Accelerated filer

☐

Non-accelerated filer

☒

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of August 9, 2024, [2,500,000 shares] of the registrant’s $1.00 par value Common Stock were outstanding, all of which were owned indirectly by Equitable Holdings, Inc.

REDUCED DISCLOSURE FORMAT

Equitable Financial Life Insurance Company of America meets the conditions set forth in General Instruction (H)(1)(a) and (b) of Form 10-Q and is therefore filing this Form with the reduced disclosure format.

Table of Contents

TABLE OF CONTENTS


		Page
PART I - FINANCIAL INFORMATION
Item 1.	Consolidated Financial Statements	3
	Consolidated Balance Sheets, June 30, 2024 (Unaudited) and December 31, 2023	4
	Consolidated Statements of Income (Loss), Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)	5
	Consolidated Statements of Comprehensive Income (Loss), Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)	6
	Consolidated Statements of Equity, Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)	7
	Consolidated Statements of Cash Flows, Six Months Ended June 30, 2024 and 2023 (Unaudited)	8
	Consolidated Notes to Financial Statements:
	Note 1 - Organization	10
	Note 2 - Significant Accounting Policies	10
	Note 3 - Investments	12
	Note 4 - Derivatives	24
	Note 5 - DAC and Other Deferred Assets/Liabilities	28

	Note 6 - Fair Value Disclosures	29
	Note 7 - Liabilities for Future Policyholder Benefits	40
	Note 8 - Market Risk Benefits	43
	Note 9 - Policyholder Account Balances	44
	Note 10 - Income Taxes	49
	Note 11 - Related Party Transactions	49
	Note 12 - Equity	49
	Note 13 - Commitments and Contingent Liabilities	50
	Note 14 - Insurance Statutory Financial Information	51
	Note 15 - Unpaid Claim and Claim Expenses	52
	Note 16 - Reinsurance	52
	Note 17 - Revision of Previously Issued Financial Statements	54
	Note 18 - Subsequent Events	56

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	57
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	62
Item 4.	Controls and Procedures	62

PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	63
Item 1A.	Risk Factors	63

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	63
Item 3.	Defaults Upon Senior Securities	63
Item 4.	Mine Safety Disclosures	63
Item 5.	Other Information	63
Item 6.	Exhibits	63

Signatures		70

Table of Contents

NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

Certain of the statements included or incorporated by reference in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “expects,” “believes,” “anticipates,” “intends,” “seeks,” “aims,” “plans,” “assumes,” “estimates,” “projects,” “should,” “would,” “could,” “may,” “will,” “shall” or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Equitable Financial Life Insurance Company of America (“Equitable America”) and its consolidated subsidiaries. “We,” “us” and “our” refer to Equitable America and its consolidated subsidiaries, unless the context refers only to Equitable America as a corporate entity. There can be no assurance that future developments affecting Equitable America will be those anticipated by management. Forward-looking statements include, without limitation, all matters that are not historical facts.

These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others: (i) conditions in the financial markets and economy, including the impact of geopolitical conflicts and related economic conditions, equity market declines and volatility, interest rate fluctuations, impacts on our goodwill and changes in liquidity and access to and cost of capital; (ii) operational factors, indebtedness, protection of confidential customer information or proprietary business information, operational failures by us or our service providers, potential strategic transactions, changes in accounting standards, and catastrophic events, such as the outbreak of pandemic diseases including COVID-19; (iii) credit, counterparties and investments, including counterparty default on derivative contracts, failure of financial institutions, defaults by third parties and affiliates and economic downturns, defaults and other events adversely affecting our investments; (iv) our reinsurance and hedging programs; (v) our products, structure and product distribution, including variable annuity guaranteed benefits features within certain of our products, variations in statutory capital requirements, financial strength and claims-paying ratings and key product distribution relationships; (vi) estimates, assumptions and valuations, including risk management policies and procedures, potential inadequacy of reserves and experience differing from pricing expectations or reserves, amortization of deferred acquisition costs and financial models; (vii) recruitment and retention of key employees at Equitable Financial and experienced and productive financial professionals; (viii) subjectivity of the determination of the amount of allowances and impairments taken on our investments; (ix) legal and regulatory risks, including federal and state legislation affecting financial institutions, insurance regulation and tax reform; and (x) general risks, including strong industry competition, information systems failing or being compromised and protecting our intellectual property.

Forward-looking statements should be read in conjunction with the other cautionary statements, risks, uncertainties and other factors identified in Equitable America’s Annual Report on Form 10-K for the year ended December 31, 2023, as amended or supplemented in our subsequently filed Quarterly Reports on Form 10-Q, including in the section entitled “Risk Factors,” and elsewhere in this Quarterly Report on Form 10-Q. You should read this Form 10-Q completely and with the understanding that actual future results may be materially different from expectations. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as otherwise may be required by law.

Other risks, uncertainties and factors, including those discussed under “Risk Factors”, in our Annual Report on Form 10-K could cause our actual results to differ materially from those projected in any forward-looking statements we make. Readers should read carefully the factors described in “Risk Factors” in our Annual Report on Form 10-K to better understand the risks and uncertainties inherent in our business and underlying any forward-looking statements.

Throughout this Quarterly Report on Form 10-Q we use certain defined terms and abbreviations, which are summarized in the “Glossary” and “Acronyms” sections.

Table of Contents

Part I FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Balance Sheets

June 30, 2024 (Unaudited) and December 31, 2023



	June 30, 2024		December 31, 2023
	(in millions, except share data)
ASSETS
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $15,776 and $10,050) (allowance for credit losses of $0 and $0 )	$	15,481	$	9,891
Mortgage loans on real estate (net of allowance for credit losses of $5 and $2)	857		294
Policy loans	287		268
Other equity investments	25		19

Other invested assets	237		351
Total investments	16,887		10,823
Cash and cash equivalents	2,221		1,838
Deferred policy acquisition costs	1,496		1,212

Amounts due from reinsurers (allowance for credit losses of $0 and $0)	1,029		961
Funds withheld receivable	9,747		10,603
Reinsurance deposit assets	12,260		12,566

Purchased market risk benefits	7		9
Other assets	427		406
Assets for market risk benefits	40		24
Separate Accounts assets	7,257		5,754
Total Assets	$	51,371	$	44,196

LIABILITIES
Policyholders’ account balances	$	31,495	$	24,963
Liability for market risk benefits	6,224		7,333
Future policy benefits and other policyholders' liabilities	1,969		1,653


Amounts due to reinsurers	106		110


Current and deferred income taxes	47		54
Other liabilities	2,136		2,169
Separate Accounts liabilities	7,257		5,754
Total Liabilities	$	49,234	$	42,036

Commitments and contingent liabilities (1)

EQUITY

Common stock, $1.00 par value; 2,500,000 shares authorized, issued and outstanding	$	3	$	3
Additional paid-in capital	1,884		1,882
Retained earnings (accumulated deficit)	1,009		969
Accumulated other comprehensive income (loss)	(759)		(694)
Total Equity	2,137		2,160
Total Liabilities and Equity	$	51,371	$	44,196

_____________

(1)See Note 13 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.

See Notes to Consolidated Financial Statements (Unaudited).

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Statements of Income (Loss)

Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)



	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
REVENUES
Policy charges and fee income	$	434	$	410	$	838	$	471
Premiums	149		132		281		201
Net derivative gains (losses)	9		(699)		(1,046)		(693)
Net investment income (loss)	209		56		370		85
Investment gains (losses), net	(2)		—		(3)		(5)



Investment management and service fees	133		122		261		127
Other income	40		38		75		44
Total revenues	972		59		776		230

BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	309		278		600		357
Remeasurement of liability for future policy benefits	(1)		(1)		(10)		(2)
Change in market risk benefits and purchased market risk benefits	(200)		(839)		(1,234)		(838)
Interest credited to policyholders’ account balances	293		185		555		208
Compensation and benefits	16		15		35		28
Commissions	118		89		225		120

Amortization of deferred policy acquisition costs	31		16		58		28
Amortization of reinsurance deposit assets	152		147		305		148

Other operating costs and expenses	95		109		189		131
Total benefits and other deductions	813		(1)		723		180
Income (loss) from continuing operations, before income taxes	159		60		53		50
Income tax (expense) benefit	(36)		(9)		(13)		63
Net income (loss)	$	123	$	51	$	40	$	113

See Notes to Consolidated Financial Statements (Unaudited).

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Statements of Comprehensive Income (Loss)

Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$	123	$	51	$	40	$	113

Other comprehensive income (loss), net of income taxes:
Change in unrealized gains (losses), net of adjustments (1)	(42)		(51)		(113)		24
Change in market risk benefits - instrument-specific credit risk	(28)		7		20		11
Change in liability for future policy benefits - current discount rate	10		1		28		1
Other comprehensive income (loss), net of income taxes	(60)		(43)		(65)		36


Comprehensive income (loss)	$	63	$	8	$	(25)	$	149

_____________

(1)See Note 12 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

See Notes to Consolidated Financial Statements (Unaudited).

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Statements of Equity

Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)


	Three Months Ended June 30,

	Common Stock		Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Income (Loss)		Total Equity
	(in millions)
Balance, beginning of period	$	3	$	1,884	$	886	$	(699)	$	2,074


Net income (loss)	—		—		123		—		123
Other comprehensive income (loss)	—		—		—		(60)		(60)

Balance, June 30, 2024	$	3	$	1,884	$	1,009	$	(759)	$	2,137


Balance, beginning of period	$	3	$	831	$	(160)	$	(302)	$	372
Contribution from parent	—		1,050		—		—		1,050
Net income (loss)	—		—		51		—		51
Other comprehensive income (loss)	—		—		—		(43)		(43)
Other	—		1		—		—		1
Balance, June 30, 2023	$	3	$	1,882	$	(109)	$	(345)	$	1,431


	Six Months Ended June 30,

	Common Stock		Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)		Accumulated Other Comprehensive Income (Loss)		Total Equity
	(in millions)
Balance, beginning of period	$	3	$	1,882	$	969	$	(694)	$	2,160

Net income (loss)	—		—		40		—		40
Other comprehensive income (loss)	—		—		—		(65)		(65)
Other	—		2		—		—		2
Balance, June 30, 2024	$	3	$	1,884	$	1,009	$	(759)	$	2,137





Balance, beginning of period	$	3	$	831	$	(222)	$	(381)	$	231
Contribution from parent	—		1,050		—		—		1,050
Net income (loss)	—		—		113		—		113
Other comprehensive income (loss)	—		—		—		36		36
Other	—		1		—		—		1
Balance, June 30, 2023	$	3	$	1,882	$	(109)	$	(345)	$	1,431

See Notes to Consolidated Financial Statements (Unaudited).

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Statements of Cash Flows

Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)


	Six Months Ended June 30,
	2024		2023
	(in millions)
Cash flows from operating activities:
Net income (loss)	$	40	$	113
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	555		208
Policy charges and fee income	(838)		(471)
Net derivative (gains) losses	1,046		693

Investment (gains) losses, net	3		5
Realized and unrealized (gains) losses on trading securities	1		—
Non-cash long-term incentive compensation expense	1		1

Amortization and depreciation	284		124


Remeasurement of liability for future policy benefits	(10)		(2)
Change in market risk benefits	(1,234)		(838)
Changes in:

Reinsurance recoverable	(79)		817
Funds withheld receivable	(105)		(161)

Capitalization of deferred policy acquisition costs	(343)		(215)
Future policy benefits	305		222
Current and deferred income taxes	3		(63)
Other, net	810		455
Net cash provided by (used in) operating activities	$	439	$	888

Cash flows from investing activities:
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	$	828	$	98
Mortgage loans on real estate	3		—


Short-term investments	5		(1)
Other	—		80
Payment for the purchase/origination of:
Fixed maturities, available-for-sale	(6,484)		(3,582)
Mortgage loans on real estate	(569)		—
Trading account securities	(1)		—
Short-term investments	(5)		—
Other	(8)		(99)
Cash settlements related to derivative instruments, net	(309)		(208)




Other, net	(18)		(16)
Net cash provided by (used in) investing activities	$	(6,558)	$	(3,728)

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Consolidated Statements of Cash Flows

Three and Six Months Ended June 30, 2024 and 2023 (Unaudited)


	Six Months Ended June 30,
	2024		2023
	(in millions)
Cash flows from financing activities:
Policyholders’ account balances:
Deposits	$	6,325	$	3,453
Withdrawals	(853)		(1,064)
Transfer (to) from Separate Accounts	107		26
Payments of market risk benefits	(361)		(181)
Change in collateralized pledged assets	2		—
Change in collateralized pledged liabilities	1,261		342

Cash contribution from parent company	—		1,050
Changes in securities lending payable	21		—

Net cash provided by (used in) financing activities	$	6,502	$	3,626


Change in cash and cash equivalents	383		786
Cash and cash equivalents, beginning of period	1,838		294
Cash and cash equivalents, end of period	$	2,221	$	1,080

See Notes to Consolidated Financial Statements (Unaudited).

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited)

1) ORGANIZATION

Equitable Financial Life Insurance Company of America’s (collectively with its consolidated subsidiary, “Equitable America” or “the Company”) primary business is providing variable annuity, life insurance and employee benefit products to both individuals and businesses. The Company is an indirect, wholly-owned subsidiary of Equitable Holdings, Inc. (“Holdings”). Equitable America is a stock life insurance company organized under the laws of Arizona.

Equitable Financial Investment Management America, LLC (“EFIMA”) is a subsidiary of Equitable America and is a wholly-owned indirect subsidiary of Holdings.

2) 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 consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2023.

The terms “second quarter 2024” and “second quarter 2023” refer to the three months ended June 30, 2024 and 2023, respectively. The terms “first six months of 2024” and “first six months of 2023” refer to the six months ended June 30, 2024 and 2023, respectively.

Future Adoption of New Accounting Pronouncements


Description	Effective Date and Method of Adoption	Effect on the Financial Statement or Other Significant Matters
ASU 2023-07: Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
This ASU provides improvements to reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple measures of segment profit or loss, provide new segment disclosure requirements for entities with a single reportable segment and contain other disclosure requirements.	The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024. A calendar year public entity will adopt the ASU for its 2024 Form 10-K. The ASU should be adopted retrospectively to all periods presented in the financial statements unless it is impracticable to do so.	The Company is currently assessing the additional required disclosures under the ASU including providing new segment disclosure requirements for entities with a single reportable segment. Management is evaluating the impact the adoption of this guidance will have on the Company’s consolidated financial statements.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued


Description	Effective Date and Method of Adoption	Effect on the Financial Statement or Other Significant Matters
ASU 2023-09: Income Taxes (Topic 740): Improvements to Income Tax Disclosures
The ASU enhanced existing income tax disclosures primarily related to the rate reconciliation and income taxes paid information. With regard to the improvements to disclosures of rate reconciliation, a public business entity is required on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Similarly, a public entity is required to provide the amount of income taxes paid (net of refunds received) disaggregated by (1) federal, state, and foreign taxes and by(2) individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The ASU also includes certain other amendments to improve the effectiveness of income tax disclosures, for example, an entity is required to provide (1) pretax income (or loss) from continuing operations disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign.	The ASU will be effective for annual periods beginning after December 15, 2024. Entities are required to apply the ASU on a prospective basis.	The adoption of ASU 2023-09 is not expected to materially impact the Company’s financial position, results of operation, or cash flows.
SEC Release Nos. 33-11275; 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors
The SEC adopted rules requiring registrants to disclose climate-related information in registration statements and annual reports. The new rules include disclosure of material climate-related risks, including descriptions of board oversight and risk management activities. the material impacts of these risks on a registrant’s strategy, business model and outlook and any material climate-related targets or goals. In addition, registrants will need to quantify certain effects of severe weather events and other natural conditions in a note to their audited financial statements. In April 2024, citing litigation challenging the rules that commenced immediately after they were issued, the SEC issued an order staying applicability of the rules while judicial review proceeds.	Financial statement and all other disclosures are required at the beginning of the fiscal year 2027 with disclosures about material expenditure and impact required at the beginning of the fiscal year 2028. Disclosures are provided prospectively upon adoption.	The Company is currently assessing the additional required disclosures under the SEC Release. Management is evaluating the impact of the adoption of this guidance will have on the Company’s 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 is 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, the Company consolidates the entity.

Quarterly, management of the Company reviews its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities 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.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

Consolidated VIEs

As of June 30, 2024 and December 31, 2023, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIEs model. Included in other invested assets and mortgage loans on real estate in the Company’s consolidated balance sheets at June 30, 2024 and December 31, 2023 are total assets of $323 million and $0 million, respectively related to these VIEs.

Non-Consolidated VIEs

As of June 30, 2024 and December 31, 2023, respectively, the Company held approximately $5 million and $0 million 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. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as the primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, 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 $9 million and $0 million as of June 30, 2024 and December 31, 2023, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $5 million and $0 million and approximately $214 million and $147 million of unfunded commitments as of June 30, 2024 and December 31, 2023, respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations.

Revision of Previously Issued Financial Statements

The Company identified certain errors in its previously issued financial statements primarily related to the initial and ongoing recording for the Reinsurance Treaty and coding errors impacting the inforce used to calculate actuarial reserves. The impact of these errors to prior periods’ financial statements was not considered to be material. In order to improve the consistency and comparability of the financial statements, management revised the financial statements to include the revisions discussed herein. See Note 17 of the Notes to these Financial Statements for details of the revision.

3) 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 June 30, 2024 and December 31, 2023 was $123 million and $78 million, respectively. There was no accrued interest written off for AFS fixed maturities for the three and six months ended June 30, 2024 and 2023.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

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)
June 30, 2024:
Fixed Maturities:
Corporate (1)	$	8,131	$	—	$	50	$	351	$	7,830
U.S. Treasury, government and agency	15		—		—		—		15
States and political subdivisions	48		—		—		9		39
Foreign governments	50		—		—		1		49
Residential mortgage-backed	1,838		—		8		11		1,835
Asset-backed (2)	5,220		—		35		4		5,251
Commercial mortgage-backed	474		—		2		14		462

Total at June 30, 2024	$	15,776	$	—	$	95	$	390	$	15,481

December 31, 2023:
Fixed Maturities:
Corporate (1)	$	5,842	$	—	$	96	$	276	$	5,662
U.S. Treasury, government and agency	15		—		—		—		15
States and political subdivisions	50		—		—		7		43
Foreign governments	31		—		1		1		31
Residential mortgage-backed	961		—		15		4		972
Asset-backed (2)	2,956		—		32		2		2,986
Commercial mortgage-backed	195		—		1		14		182

Total at December 31, 2023	$	10,050	$	—	$	145	$	304	$	9,891

______________

(1)Corporate fixed maturities include both public and private issues.

(2)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 June 30, 2024 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 pre-pay obligations with or without call or pre-payment penalties.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

Contractual Maturities of AFS Fixed Maturities


	Amortized Cost (Less Allowance for Credit Losses)		Fair Value
	(in millions)
June 30, 2024:
Contractual maturities:
Due in one year or less	$	83	$	83
Due in years two through five	2,114		2,095
Due in years six through ten	4,608		4,530
Due after ten years	1,439		1,225
Subtotal	8,244		7,933
Residential mortgage-backed	1,838		1,835
Asset-backed	5,220		5,251
Commercial mortgage-backed	474		462

Total at June 30, 2024	$	15,776	$	15,481

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
Proceeds from sales	$	—	$	—	$	—	$	50
Gross gains on sales	$	—	$	—	$	—	$	—
Gross losses on sales	$	—	$	—	$	—	$	(5)

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
Balance, beginning of period	$	—	$	—	$	—	$	—
Previously recognized impairments on securities that matured, paid, prepaid or sold	—		—		—		—





Balance, end of period	$	—	$	—	$	—	$	—

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

The tables below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI:

Net Unrealized Gains (Losses) on AFS Fixed Maturities


	Three Months Ended June 30, 2024
	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, beginning of period	$	(244)	$	9	$	(19)	$	(254)
Net investment gains (losses) arising during the period	(52)		—		—		(52)
Reclassification adjustment:
Included in net income (loss)	—		—		—		—
Excluded from net income (loss)	—		—		—		—
Other	—		—		(1)		(1)
Impact of net unrealized investment gains (losses)	—		—		11		11
Net unrealized investment gains (losses) excluding credit losses	(296)		9		(9)		(296)
Net unrealized investment gains (losses) with credit losses	—		—		—		—
Balance, end of period	$	(296)	$	9	$	(9)	$	(296)

	Three Months Ended June 30, 2023
	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, beginning of period	$	(312)	$	6	$	(1)	$	(307)
Net investment gains (losses) arising during the period	(64)		—		—		(64)
Reclassification adjustment:
Included in net income (loss)	—		—		—		—
Excluded from net income (loss)	—		—		—		—
Impact of net unrealized investment gains (losses)	—		1		14		15
Net unrealized investment gains (losses) excluding credit losses	(376)		7		13		(356)
Net unrealized investment gains (losses) with credit losses	—		—		—		—
Balance, end of period	$	(376)	$	7	$	13	$	(356)


	Six Months Ended June 30, 2024
	Net Unrealized Gains (Losses) on Investments		Policyholders’ Liabilities		Deferred Income Tax Asset (Liability) (1)		AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1)
	(in millions)
Balance, beginning of period	$	(159)	$	8	$	(33)	$	(184)
Net investment gains (losses) arising during the period	(137)		—		—		(137)
Reclassification adjustment:
Included in net income (loss)	—		—		—		—

Other	—		—		(5)		(5)
Impact of net unrealized investment gains (losses)	—		1		29		30
Net unrealized investment gains (losses) excluding credit losses	(296)		9		(9)		(296)

Balance, end of period	$	(296)	$	9	$	(9)	$	(296)

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued


	Six Months Ended June 30, 2024
	Net Unrealized Gains (Losses) on Investments		Policyholders’ Liabilities		Deferred Income Tax Asset (Liability) (1)		AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (1)
	(in millions)
	Six Months Ended June 30, 2023
Balance, beginning of period	$	(388)	$	8	$	(1)	$	(381)
Net investment gains (losses) arising during the period	7		—		—		7
Reclassification adjustment:
Included in net income (loss)	5		—		—		5

Other	—		—		16		16
Impact of net unrealized investment gains (losses)	—		(1)		(2)		(3)
Net unrealized investment gains (losses) excluding credit losses	(376)		7		13		(356)

Balance, end of period	$	(376)	$	7	$	13	$	(356)

_____________

(1)Certain balances were revised from previously filed financial statements.

The following tables disclose the fair values and gross unrealized losses of the 1,309 issues as of June 30, 2024 and the 891 issues as of December 31, 2023 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)
June 30, 2024:
Fixed Maturities:
Corporate	$	2,199	$	20	$	2,128	$	331	$	4,327	$	351

States and political subdivisions	8		—		32		9		40		9
Foreign governments	30		—		8		1		38		1
Residential mortgage-backed	826		6		54		5		880		11
Asset-backed	1,049		3		58		1		1,107		4
Commercial mortgage-backed	148		1		59		13		207		14

Total at June 30, 2024	$	4,260	$	30	$	2,339	$	360	$	6,599	$	390

December 31, 2023:
Fixed Maturities:
Corporate	$	505	$	7	$	1,900	$	269	$	2,405	$	276
U.S. Treasury, government and agency	—		—		8		—		8		—
States and political subdivisions	—		—		33		7		33		7
Foreign governments	7		1		4		—		11		1
Residential mortgage-backed	103		—		9		4		112		4
Asset-backed	290		1		23		1		313		2
Commercial mortgage-backed	29		—		61		14		90		14

Total at December 31, 2023	$	934	$	9	$	2,038	$	295	$	2,972	$	304

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

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 1.1% of total corporate securities. The largest exposures to a single issuer of corporate securities held as of June 30, 2024 and December 31, 2023 were $83 million and $82 million, respectively, representing 3.9% and 3.8% 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 June 30, 2024 and December 31, 2023, respectively, approximately $53 million and $92 million, or 0.3% and 0.9%, of the $15.8 billion and $10.1 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 $0 million and $0 million as of June 30, 2024 and December 31, 2023, respectively.

As of June 30, 2024 and December 31, 2023, respectively, the $360 million and $295 million of gross unrealized losses of twelve months or more were 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 allowance for credit losses for these securities was not warranted at either June 30, 2024 or December 31, 2023. As of June 30, 2024 and December 31, 2023, 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 June 30, 2024, the Company determined that the unrealized loss was primarily due to increases in interest rates and credit spreads.

Securities Lending

Beginning in 2023, the Company has entered into securities lending agreements with an agent bank whereby blocks of securities are loaned to third parties, primarily major brokerage firms. As of June 30, 2024 and December 31, 2023, the estimated fair value of loaned securities was $21 million and $23 million. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as cash collateral, calculated daily. To further minimize the credit risks related to these programs, the financial condition of counterparties is monitored on a regular basis. As of June 30, 2024 and December 31, 2023, cash collateral received in the amount of $21 million and $23 million was invested by the agent bank. A securities lending payable for the overnight and continuous loans is included in other liabilities in the amount of cash collateral received. Securities lending transactions are used to generate income. Income and expenses associated with these transactions are reported as net investment income and were not material for the June 30, 2024 and December 31, 2023.

Mortgage Loans on Real Estate

In 2024 the Company began investing in residential mortgage loans. Accrued interest receivable on commercial and residential mortgage loans was $4 million and $1 million as of June 30, 2024 and December 31, 2023 and no accrued interest was written off for the three and six months ended June 30, 2024 and 2023.

As of June 30, 2024 and December 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.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

Allowance for Credit Losses on Mortgage Loans

The change in the allowance for credit losses for commercial and residential mortgage loans were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
Allowance for credit losses on mortgage loans:
Commercial mortgages:
Balance, beginning of period	$	3	$	—	$	2	$	—
Current-period provision for expected credit losses	1		—		2		—
Write-offs charged against the allowance	—		—		—		—
Recoveries of amounts previously written off	—		—		—		—
Net change in allowance	1		—		2		—
Balance, end of period	$	4	$	—	$	4	$	—









Residential mortgages:
Balance, beginning of period	$	—	$	—	$	—	$	—
Current-period provision for expected credit losses	1		—		1		—
Write-offs charged against the allowance	—		—		—		—
Recoveries of amounts previously written off	—		—		—		—
Net change in allowance	1		—		1		—
Balance, end of period	$	1	$	—	$	1	$	—

Total allowance for credit losses	$	5	$	—	$	5	$	—

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

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

The Company’s commercial mortgage loans segregated by risk rating exposure were as follows:

Loan to Value (“LTV”) Ratios (1) (3)


	June 30, 2024
	Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis		Total
	(in millions)
Commercial mortgage loans:
Commercial:
0% - 50%	$	—	$	58	$	—	$	—	$	—	$	17	$	—	$	—	$	75
50% - 70%	245		221		—		—		—		—		—		—		466
70% - 90%	—		—		—		—		—		—		—		—		—
90% plus	—		—		—		—		—		—		—		—		—
Total commercial	$	245	$	279	$	—	$	—	$	—	$	17	$	—	$	—	$	541









Total commercial mortgage loans:
0% - 50%	$	—	$	58	$	—	$	—	$	—	$	17	$	—	$	—	$	75
50% - 70%	245		221		—		—		—		—		—		—		466
70% - 90%	—		—		—		—		—		—		—		—		—
90% plus	—		—		—		—		—		—		—		—		—
Total	$	245	$	279	$	—	$	—	$	—	$	17	$	—	$	—	$	541

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

Debt Service Coverage (“DSC”) Ratios (2) (3)


	June 30, 2024
	Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term Loans Amortized Cost Basis		Total
	(in millions)
Commercial mortgage loans:
Commercial:
Greater than 2.0x	$	—	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	17
1.8x to 2.0x	—		—		—		—		—		—		—		—		—
1.5x to 1.8x	40		—		—		—		—		—		—		—		40
1.2x to 1.5x	205		221		—		—		—		—		—		—		426
1.0x to 1.2x	—		58		—		—		—		—		—		—		58
Less than 1.0x	—		—		—		—		—		—		—		—		—
Total commercial	$	245	$	279	$	—	$	—	$	—	$	17	$	—	$	—	$	541











Total commercial mortgage loans:
Greater than 2.0x	$	—	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	17
1.8x to 2.0x	—		—		—		—		—		—		—		—		—
1.5x to 1.8x	40		—		—		—		—		—		—		—		40
1.2x to 1.5x	205		221		—		—		—		—		—		—		426
1.0x to 1.2x	—		58		—		—		—		—		—		—		58
Less than 1.0x	—		—		—		—		—		—		—		—		—
Total	$	245	$	279	$	—	$	—	$	—	$	17	$	—	$	—	$	541

_____________

(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.

(3)Residential mortgage loans are excluded from the above tables.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

LTV Ratios (1) (3)


	December 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)
Commercial mortgage loans:

0% - 50%	$	58	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	75
50% - 70%	221		—		—		—		—		—		—		—		221
70% - 90%	—		—		—		—		—		—		—		—		—
90% plus	—		—		—		—		—		—		—		—		—
Total commercial	$	279	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	296

DSC Ratios (2) (3)


	December 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)
Commercial mortgage loans:

Greater than 2.0x	$	—	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	17
1.8x to 2.0x	—		—		—		—		—		—		—		—		—
1.5x to 1.8x	—		—		—		—		—		—		—		—		—
1.2x to 1.5x	221		—		—		—		—		—		—		—		221
1.0x to 1.2x	58		—		—		—		—		—		—		—		58
Less than 1.0x	—		—		—		—		—		—		—		—		—
Total commercial	$	279	$	—	$	—	$	—	$	—	$	17	$	—	$	—	$	296

_____________

(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.

(3)Residential mortgage loans are excluded from the above tables.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

The amortized cost of residential mortgage loans by credit quality indicator and origination year was as follows:


	June 30, 2024
	Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
	(in millions)
Performance indicators: (1)
Performing	$	72	$	117	$	67	$	63	$	2	$	—	$	321
Nonperforming	—		—		—		—		—		—		—
Total	$	72	$	117	$	67	$	63	$	2	$	—	$	321

_____________

(1)The Company began investing in residential mortgages in 2024. Therefore, 2023 comparative information is not applicable.

Past-Due and Nonaccrual Mortgage Loan Status

The aging analysis of past-due mortgage loans were as follows:

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)
June 30, 2024:
Mortgage loans:
Commercial	$	—	$	—	$	—	$	—	$	541	$	541	$	—	$	541	$	—	$	—

Residential	—		—		—		—		321		321		—		321		—		—
Total	$	—	$	—	$	—	$	—	$	862	$	862	$	—	$	862	$	—	$	—
December 31, 2023:
Mortgage loans:
Commercial	$	—	$	—	$	—	$	—	$	296	$	296	$	—	$	296	$	—	$	—

Residential	—		—		—		—		—		—		—		—		—		—
Total	$	—	$	—	$	—	$	—	$	296	$	296	$	—	$	296	$	—	$	—

________________

(1)Amounts presented at amortized cost basis.

As of June 30, 2024 and December 31, 2023, the amortized cost of problem mortgage loans that had been classified as non-accrual loans were $0 million and $0 million, respectively.

Equity Securities

The breakdown of unrealized and realized gains and (losses) on equity securities was as follows:

Unrealized and Realized Gains (Losses) from Equity Securities


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
Net investment gains (losses) recognized during the period on securities held at the end of the period	$	—	$	—	$	1	$	(1)

Unrealized and realized gains (losses) on equity securities	$	—	$	—	$	1	$	(1)

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

Trading Securities

As of June 30, 2024 and December 31, 2023, respectively, the fair value of the Company’s trading securities was $0 million and $0 million. As of June 30, 2024 and December 31, 2023, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $1 million and $1 million.

The breakdown of net investment income (loss) from trading securities was as follows:

Net Investment Income (Loss) from Trading Securities


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	(in millions)
Net investment gains (losses) recognized during the period on securities held at the end of the period	$	(1)	$	2	$	(1)	$	—

Unrealized and realized gains (losses) on trading securities	(1)		2		(1)		—

Net investment income (loss) from trading securities	$	(1)	$	2	$	(1)	$	—

Net Investment Income

The following tables provide the components of net investment income by investment type:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023


Fixed maturities	$	182	$	48	$	325	$	77
Mortgage loans on real estate	10		—		17		—
Policy loans	2		1		3		2
Other equity investments	—		—		1		—

Trading securities	(1)		2		(1)		—
Other investment income	20		7		33		9
Gross investment income (loss)	213		58		378		88
Investment expenses	(4)		(2)		(8)		(3)
Net investment income (loss)	$	209	$	56	$	370	$	85

Investment Gains (Losses), Net

Investment gains (losses), net, including changes in the valuation allowances and credit losses were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

Fixed maturities	$	—	$	—	$	—	$	(5)
Mortgage loans on real estate	(2)		—		(3)		—


Investment gains (losses), net	$	(2)	$	—	$	(3)	$	(5)

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

4) 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. The Company does not designate any derivatives as hedge accounting. 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 can be used in these hedging programs, including exchange traded equity and interest rate futures contracts as well as equity options. 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.

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 compared to 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.

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.

The tables below present quantitative disclosures about the Company’s derivative instruments, including those embedded in other contracts required to be accounted for as derivative instruments:

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

The following table presents the gross notional amount and fair value of the Company’s derivatives:

Derivative Instruments by Category


	June 30, 2024								December 31, 2023
			Fair Value								Fair Value
	Notional Amount		Derivative Assets		Derivative Liabilities		Net Derivatives		Notional Amount		Derivative Assets		Derivative Liabilities		Net Derivatives
	(in millions)
Derivatives: (1)
Equity contracts:
Futures	$	3,244	$	—	$	—	$	—	$	2,277	$	—	$	—	$	—
Options	9,185		2,717		660		2,057		4,930		1,370		402		968
Interest rate contracts:
Futures	1,060		—		—		—		522		—		—		—
Other contracts:
Margin	—		181		—		181		—		133		—		133
Collateral	—		—		2,040		(2,040)		—		—		956		(956)
Total:	13,489		2,898		2,700		198		7,729		1,503		1,358		145

Embedded derivatives:
SCS, SIO, MSO and IUL indexed features (2)	—		—		12,163		(12,163)		—		—		8,804		(8,804)
Funds withheld receivable (3)	—		(87)		—		(87)		—		100		—		100
Modco receivable (2)	—		—		(183)		183		—		—		(411)		411
Total embedded derivatives	—		(87)		11,980		(12,067)		—		100		8,393		(8,293)
Total derivative instruments	$	13,489	$	2,811	$	14,680	$	(11,869)	$	7,729	$	1,603	$	9,751	$	(8,148)

______________

(1)Reported in other invested assets in the consolidated balance sheets.

(2)Reported in policyholders’ account balances in the consolidated balance sheets.

(3)Reported in funds withheld receivable in the consolidated balance sheets.

The following table presents the effects of derivative instruments on the consolidated statements of income (loss) and comprehensive income (loss):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	Net Derivatives Gains (Losses)
	(in millions)
Derivatives:
Equity contracts:
Futures	$	69	$	70	$	225	$	98
Options	238		105		632		111
Interest rate contracts:
Futures	(17)		(12)		(41)		(4)
Total:	290		163		816		205

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
	Net Derivatives Gains (Losses)
	(in millions)
Embedded Derivatives:
SCS, SIO, MSO and IUL indexed features	(1,042)		(2,194)		(3,578)		(2,230)
Funds withheld receivable	(89)		(598)		(1,106)		(598)
Modco receivable	850		1,930		2,822		1,930
Total Embedded Derivatives	(281)		(862)		(1,862)		(898)

Total Derivatives instruments (1)	$	9	$	(699)	$	(1,046)	$	(693)

______________

(1)Reported in net derivative gains (losses) in the consolidated statements of income (loss).

Equity-Based and Treasury Futures Contracts Margin

All outstanding equity-based futures contracts as of June 30, 2024 and December 31, 2023 are exchange-traded and net settled daily in cash. As of June 30, 2024 and December 31, 2023, 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 $144 million and $113 million and (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 $37 million and $20 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 June 30, 2024 and December 31, 2023, respectively, the Company held $2,040 million and $956 million 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 $0 million and $0 million as of June 30, 2024 and December 31, 2023, 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 June 30, 2024 and December 31, 2023, 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.

Table of Contents

EQUITABLE FINANCIAL LIFE INSURANCE COMPANY OF AMERICA

Notes to Consolidated Financial Statements (Unaudited), Continued

The following tables present information about the Company’s offsetting of financial assets and liabilities and derivative instruments:

Offsetting of Financial Assets and Liabilities and Derivative Instruments

As of June 30, 2024


	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 (1)		Net Amount
	(in millions)
Assets:
Derivative assets	$	2,898	$	2,687	$	211	$	(1)	$	210
Secured lending	21		—		21		—		21
Other financial assets

EQUITABLE FINANCIAL LIFE INSURANCE CO OF AMERICA 10-Q