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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 | Sep. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Assets: |  |
Available for sale, fixed maturity securities | $ 100,722 | $ 105,882
Equity securities | 1,461 | 1,283
Other investments | 1,833 | 1,139
Cash and cash equivalents | 6,208 | 5,141
Asset derivatives | 745 | 583
Total assets | 110,969 | 114,028
Liabilities: |  |
Liability derivatives | 1,270 | 697
Total liabilities | 1,270 | 697
Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 151 | 180
Liabilities: |  |
Liability derivatives | 378 | 312
Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 593 | 402
Liabilities: |  |
Liability derivatives | 875 | 385
Foreign currency options |  |
Assets: |  |
Asset derivatives | 1 | 1
Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 16 |
Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 1 |
Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 35,226 | 37,350
Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 2,937 | 3,018
Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,292 | 1,038
Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 10,315 | 10,817
Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,142 | 1,382
Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 11,742 | 12,060
Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 38,068 | 40,217
Level 1 |  |
Assets: |  |
Available for sale, fixed maturity securities | 33,903 | 36,032
Equity securities | 1,210 | 1,095
Other investments | 1,833 | 1,139
Cash and cash equivalents | 6,208 | 5,141
Asset derivatives | 0 | 0
Total assets | 43,154 | 43,407
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 | 0
Level 1 | Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 0 |
Level 1 | Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 0 |
Level 1 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 33,903 | 36,032
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 | 65,649 | 68,833
Equity securities | 90 | 86
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 646 | 450
Total assets | 66,385 | 69,369
Liabilities: |  |
Total liabilities | 914 | 466
Level 2 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 52 | 47
Liabilities: |  |
Liability derivatives | 22 | 81
Level 2 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 593 | 402
Liabilities: |  |
Liability derivatives | 875 | 385
Level 2 | Foreign currency options |  |
Assets: |  |
Asset derivatives | 1 | 1
Level 2 | Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 16 |
Level 2 | Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 1 |
Level 2 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,323 | 1,318
Level 2 | Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 2,937 | 3,018
Level 2 | Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,042 | 814
Level 2 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 9,792 | 10,395
Level 2 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,097 | 1,334
Level 2 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 11,696 | 12,036
Level 2 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 37,762 | 39,918
Level 3 |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,170 | 1,017
Equity securities | 161 | 102
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 99 | 133
Total assets | 1,430 | 1,252
Liabilities: |  |
Total liabilities | 356 | 231
Level 3 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 99 | 133
Liabilities: |  |
Liability derivatives | 356 | 231
Level 3 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 0 | 0
Liabilities: |  |
Liability derivatives | 0 | 0
Level 3 | Foreign currency options |  |
Assets: |  |
Asset derivatives | 0 | 0
Level 3 | Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 0 |
Level 3 | Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 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 | 250 | 224
Level 3 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 523 | 422
Level 3 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 45 | 48
Level 3 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 46 | 24
Level 3 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | $ 306 | $ 299

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