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FAIR VALUE MEASUREMENTS - Fair Value Hierarchy Levels of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018
--- | --- | ---
Assets: |  |
Available for sale, fixed maturity securities | $ 91,262 | $ 82,895
Equity securities | 802 | 987
Other investments | 628 | 152
Cash and cash equivalents | 4,896 | 4,337
Asset derivatives | 482 | 417
Total assets | 98,070 | 88,788
Liabilities: |  |
Liability derivatives | 586 | 387
Total liabilities | 586 | 387
Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 241 | 285
Liabilities: |  |
Liability derivatives | 204 | 234
Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 238 | 126
Liabilities: |  |
Liability derivatives | 377 | 151
Foreign currency options |  |
Assets: |  |
Asset derivatives |  | 3
Liabilities: |  |
Liability derivatives | 5 | 1
Interest rate swaptions |  |
Liabilities: |  |
Liability derivatives |  | 1
Interest rate swaps |  |
Assets: |  |
Asset derivatives | 3 | 3
Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 36,400 | 34,342
Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,847 | 1,863
Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 410 | 339
Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 6,780 | 7,171
Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,042 | 1,260
Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 10,287 | 8,918
Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 34,496 | 29,002
Level 1 |  |
Assets: |  |
Available for sale, fixed maturity securities | 34,878 | 32,993
Equity securities | 642 | 874
Other investments | 628 | 152
Cash and cash equivalents | 4,896 | 4,337
Asset derivatives | 0 | 0
Total assets | 41,044 | 38,356
Liabilities: |  |
Total liabilities | 0 | 0
Level 1 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 0 | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 1 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 0 | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 1 | Foreign currency options |  |
Assets: |  |
Asset derivatives |  | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 1 | Interest rate swaptions |  |
Liabilities: |  |
Liability derivatives |  | 0
Level 1 | Interest rate swaps |  |
Assets: |  |
Asset derivatives | 0 | 0
Level 1 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 34,878 | 32,993
Level 1 | Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 1 | Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 1 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 1 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 1 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 1 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 2 |  |
Assets: |  |
Available for sale, fixed maturity securities | 55,697 | 49,380
Equity securities | 80 | 67
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 313 | 235
Total assets | 56,090 | 49,682
Liabilities: |  |
Total liabilities | 460 | 285
Level 2 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 72 | 103
Liabilities: |  |
Liability derivatives | 78 | 132
Level 2 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 238 | 126
Liabilities: |  |
Liability derivatives | 377 | 151
Level 2 | Foreign currency options |  |
Assets: |  |
Asset derivatives |  | 3
Liabilities: |  |
Liability derivatives | 5 | 1
Level 2 | Interest rate swaptions |  |
Liabilities: |  |
Liability derivatives |  | 1
Level 2 | Interest rate swaps |  |
Assets: |  |
Asset derivatives | 3 | 3
Level 2 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,522 | 1,349
Level 2 | Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,847 | 1,863
Level 2 | Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 232 | 162
Level 2 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 6,556 | 7,062
Level 2 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,042 | 1,260
Level 2 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 10,264 | 8,895
Level 2 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 34,234 | 28,789
Level 3 |  |
Assets: |  |
Available for sale, fixed maturity securities | 687 | 522
Equity securities | 80 | 46
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 169 | 182
Total assets | 936 | 750
Liabilities: |  |
Total liabilities | 126 | 102
Level 3 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 169 | 182
Liabilities: |  |
Liability derivatives | 126 | 102
Level 3 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 0 | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 3 | Foreign currency options |  |
Assets: |  |
Asset derivatives |  | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 3 | Interest rate swaptions |  |
Liabilities: |  |
Liability derivatives |  | 0
Level 3 | Interest rate swaps |  |
Assets: |  |
Asset derivatives | 0 | 0
Level 3 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 3 | Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 3 | Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 178 | 177
Level 3 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 224 | 109
Level 3 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 0 | 0
Level 3 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 23 | 23
Level 3 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | $ 262 | $ 213

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