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SEGMENT REPORTING - Schedule of Segment Results (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Jun. 30, 2024
Jun. 30, 2023
Segment Reporting Information [Line Items]            
Total revenues $ 2,902   $ 1,974   $ 5,387 $ 3,149
Policyholder benefits and claims incurred (1,515)   (1,133)   (2,929) (1,875)
Income tax recovery (expense) 298   (13)   273 (2)
Net income for the period 269 $ 337 360 $ (93) 606 267
Operating Segments            
Segment Reporting Information [Line Items]            
Net premiums and other policy related revenues 1,716   1,202   3,359 2,099
Other net investment income, including reinsurance funds withheld 1,197   605   1,922 1,081
Total revenues 2,913   1,807   5,281 3,180
Policyholder benefits and claims incurred (1,467)   (1,117)   (2,910) (1,820)
Other insurance and reinsurance expenses (718)   (299)   (1,056) (594)
Operating expenses excluding transactions costs (290)   (170)   (516) (337)
Interest expense (95)   (60)   (167) (120)
Income tax recovery (expense) (45)   (1)   (55) (4)
Net income for the period 298   160   577 305
Operating Segments | Annuity            
Segment Reporting Information [Line Items]            
Net premiums and other policy related revenues 773   508   1,425 686
Other net investment income, including reinsurance funds withheld 924   385   1,387 696
Total revenues 1,697   893   2,812 1,382
Policyholder benefits and claims incurred (740)   (542)   (1,479) (725)
Other insurance and reinsurance expenses (562)   (164)   (742) (309)
Operating expenses excluding transactions costs (79)   (34)   (120) (73)
Interest expense 0   0   0 0
Income tax recovery (expense) (46)   0   (46) 0
Net income for the period 270   153   425 275
Operating Segments | Life            
Segment Reporting Information [Line Items]            
Net premiums and other policy related revenues 193   196   393 396
Other net investment income, including reinsurance funds withheld 110   93   221 180
Total revenues 303   289   614 576
Policyholder benefits and claims incurred (128)   (151)   (292) (305)
Other insurance and reinsurance expenses (38)   (41)   (71) (77)
Operating expenses excluding transactions costs (62)   (56)   (119) (111)
Interest expense 0   0   0 0
Income tax recovery (expense) (12)   0   (12) 0
Net income for the period 63   41   120 83
Operating Segments | P&C            
Segment Reporting Information [Line Items]            
Net premiums and other policy related revenues 750   498   1,541 1,017
Other net investment income, including reinsurance funds withheld 128   92   231 130
Total revenues 878   590   1,772 1,147
Policyholder benefits and claims incurred (599)   (424)   (1,139) (790)
Other insurance and reinsurance expenses (118)   (94)   (243) (208)
Operating expenses excluding transactions costs (128)   (71)   (256) (139)
Interest expense 0   0   0 0
Income tax recovery (expense) 4   0   2 0
Net income for the period 37   1   136 10
Operating Segments | Corporate & Other            
Segment Reporting Information [Line Items]            
Net premiums and other policy related revenues 0   0   0 0
Other net investment income, including reinsurance funds withheld 35   35   83 75
Total revenues 35   35   83 75
Policyholder benefits and claims incurred 0   0   0 0
Other insurance and reinsurance expenses 0   0   0 0
Operating expenses excluding transactions costs (21)   (9)   (21) (14)
Interest expense (95)   (60)   (167) (120)
Income tax recovery (expense) 9   (1)   1 (4)
Net income for the period (72)   (35)   (104) (63)
Segment Reconciling Items            
Segment Reporting Information [Line Items]            
Net income for the period 269   360   606 267
Depreciation expense (34)   (5)   (56) (10)
Deferred income tax recovery 343   (11)   328 2
Transaction costs (137)   (5)   (149) (9)
Net investment results from reinsurance funds withheld (5)   289   178 126
Unrealized mark to market losses within insurance contracts $ (196)   $ (68)   $ (272) $ (147)