XML 62 R43.htm IDEA: XBRL DOCUMENT
v3.22.4

Commitments, contingencies, and guarantees (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Balance Sheet Locations, Fair Values In An Asset Or (Liability) Position, And Notional Values/Payment Provisions Of Derivative Instruments | The following table presents the balance sheet locations, fair values of derivative instruments in an asset or (liability) position, and notional values/payment provisions of our derivative instruments:
|  |  | December 31, 2022 |  |  |  | December 31, 2021
| Consolidated Balance Sheet Location |  | Fair Value |  | Notional Value/ Payment Provision |  |  |  | Fair Value |  | Notional Value/ Payment Provision
|  | Derivative Asset |  | Derivative (Liability) |  |  |  | Derivative Asset |  | Derivative (Liability) |
(in millions of U.S. dollars) |  |  |  |  |  |  |
Investment and embedded derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | OA / (AP) |  | $ | 64 |  |  | $ | (115) |  |  | $ | 4,134 |  |  |  |  | $ | 25 |  |  | $ | (139) |  |  | $ | 6,182 |
Options/Futures contracts on notes and bonds | OA / (AP) |  | 18 |  |  | (24) |  |  | 1,511 |  |  |  |  | 33 |  |  | (27) |  |  | 12,944 |
Convertible securities (1) | FM AFS / ES |  | 30 |  |  | — |  |  | 37 |  |  |  |  | 11 |  |  | — |  |  | 12 |
|  |  | $ | 112 |  |  | $ | (139) |  |  | $ | 5,682 |  |  |  |  | $ | 69 |  |  | $ | (166) |  |  | $ | 19,138 |
Other derivative instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Futures contracts on equities (2) | OA / (AP) |  | $ | 33 |  |  | $ | — |  |  | $ | 939 |  |  |  |  | $ | — |  |  | $ | (16) |  |  | $ | 905 |
Other | OA / (AP) |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | 3 |
|  |  | $ | 33 |  |  | $ | — |  |  | $ | 939 |  |  |  |  | $ | — |  |  | $ | (16) |  |  | $ | 908 |
GLB (3) | (AP) |  | $ | — |  |  | $ | (736) |  |  | $ | 1,979 |  |  |  |  | $ | — |  |  | $ | (745) |  |  | $ | 1,432 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps - fair value hedges | OA / (AP) |  | $ | 17 |  |  | $ | — |  |  | $ | 1,595 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cross-currency swaps - net investment hedges | OA / (AP) |  | — |  |  | (53) |  |  | 1,604 |  |  |  |  | — |  |  | — |  |  | — |
|  |  | $ | 17 |  |  | $ | (53) |  |  | $ | 3,199 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
(1)Includes fair value of embedded derivatives. (2)Related to GMDB and GLB book of business. (3)Note that the payment provision related to GLB is the net amount at risk. The concept of a notional value does not apply to the GLB reinsurance contracts.
Derivative Instruments, Gain (Loss) [Table Text Block] | The following table presents net realized gains (losses) related to derivative instrument activity in the Consolidated statements of operations:
| Year Ended December 31
(in millions of U.S. dollars) | 2022 |  | 2021 |  | 2020
Investment and embedded derivative instruments: |  |  |  |  |
Foreign currency forward contracts | $ | (339) |  |  | $ | (62) |  |  | $ | 65 |
All other futures contracts, options, and equities | 297 |  |  | (10) |  |  | 16 |
Convertible securities (1) | (1) |  |  | — |  |  | — |
Total investment and embedded derivative instruments | $ | (43) |  |  | $ | (72) |  |  | $ | 81 |
GLB and other derivative instruments: |  |  |  |  |
GLB | $ | (63) |  |  | $ | 316 |  |  | $ | (202) |
Futures contracts on equities (2) | 187 |  |  | (202) |  |  | (108) |
Other | (11) |  |  | (8) |  |  | 1 |
Total GLB and other derivative instruments | $ | 113 |  |  | $ | 106 |  |  | $ | (309) |
| $ | 70 |  |  | $ | 34 |  |  | $ | (228) |
(1)Includes embedded derivatives. (2)Related to GMDB and GLB book of business.
Secured Borrowings Securities Lending Table | The following table presents the carrying value of collateral held under securities lending agreements by investment category and remaining contractual maturity of the underlying agreements:
| Remaining contractual maturity
| December 31, 2022 |  |  |  |  |  |  | December 31, 2021
(in millions of U.S. dollars) | Overnight and Continuous
Collateral held under securities lending agreements: |  |  |  |  |  |  |  |
Cash | $ | 820 |  |  |  |  |  |  |  | $ | 931 |
U.S. Treasury / Agency | 72 |  |  |  |  |  |  |  | 128 |
Non-U.S. | 604 |  |  |  |  |  |  |  | 752 |
Corporate and asset-backed securities | 27 |  |  |  |  |  |  |  | 12 |
Mortgage-backed securities | — |  |  |  |  |  |  |  | 1 |
Equity securities | — |  |  |  |  |  |  |  | 7 |
| $ | 1,523 |  |  |  |  |  |  |  | $ | 1,831 |
Gross amount of recognized liability for securities lending payable | $ | 1,523 |  |  |  |  |  |  |  | $ | 1,831 |
The following table presents the carrying value of collateral pledged under repurchase agreements by investment category and remaining contractual maturity of the underlying agreements:
|  |  | Remaining contractual maturity
| December 31, 2022 |  |  | December 31, 2021
| Up to 30 Days |  | 30-90 Days |  |  |  |  |  |  | 30-90 Days |  | Greater than 90 Days |  | Total
(in millions of U.S. dollars) |  |  | Total |  |  |
Collateral pledged under repurchase agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 12 |  |  | $ | — |  |  |  |  | $ | 12 |  |  |  | $ | — |  |  | $ | 29 |  |  | $ | 29 |
U.S. Treasury / Agency | — |  |  | 101 |  |  |  |  | 101 |  |  |  | 103 |  |  | — |  |  | 103 |
Mortgage-backed securities | 921 |  |  | 493 |  |  |  |  | 1,414 |  |  |  | — |  |  | 1,288 |  |  | 1,288 |
| $ | 933 |  |  | $ | 594 |  |  |  |  | $ | 1,527 |  |  |  | $ | 103 |  |  | $ | 1,317 |  |  | $ | 1,420 |
Gross amount of recognized liabilities for repurchase agreements |  |  |  |  |  |  | $ | 1,419 |  |  |  |  |  |  |  | $ | 1,406 |
Difference (1) |  |  |  |  |  |  | $ | 108 |  |  |  |  |  |  |  | $ | 14 |
(1)Per the repurchase agreements, the amount of collateral posted is required to exceed the amount of gross liability.
Lessee, Operating Lease, Liability, Maturity | Future minimum lease payments under the operating leases are expected to be as follows:
For the years ending December 31
(in millions of U.S. dollars)
Undiscounted cash flows: |
2023 | $ | 160 |
2024 | 123 |
2025 | 87 |
2026 | 73 |
2027 | 50 |
Thereafter | 261 |
Total undiscounted lease payments | $ | 754 |
Less: Present value adjustment | 121 |
Net lease liabilities reported as of December 31, 2022 | $ | 633 |

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the nature and risks of short-term collateralized financing obtained through repurchase agreements, securities lending transactions and repurchase-to-maturity transactions, accounted for as secured borrowings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 7 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=109249958&loc=SL34722452-111729 + Details
Name: | us-gaap_TransferOfCertainFinancialAssetsAccountedForAsSecuredBorrowingsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration