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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, 2022 | Dec. 31, 2021
--- | --- | ---
Assets: |  |
Available for sale, fixed maturity securities | $ 73,643 | $ 98,696
Equity securities | 1,064 | 1,603
Other investments | 1,816 | 1,726
Cash and cash equivalents | 4,710 | 5,051
Asset derivatives | 1,146 | 936
Total assets | 82,379 | 108,012
Liabilities: |  |
Liability derivatives | 2,088 | 1,619
Total liabilities | 2,088 | 1,619
Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 146 | 137
Liabilities: |  |
Liability derivatives | 462 | 427
Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 995 | 791
Liabilities: |  |
Liability derivatives | 1,035 | 1,138
Foreign currency options |  |
Assets: |  |
Asset derivatives | 5 | 8
Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 590 | 54
Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 1 |
Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 23,910 | 33,820
Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 2,276 | 3,036
Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 2,009 | 1,246
Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 7,350 | 10,051
Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 862 | 1,115
Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 9,031 | 11,591
Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 28,205 | 37,837
Level 1 |  |
Assets: |  |
Available for sale, fixed maturity securities | 22,987 | 32,532
Equity securities | 801 | 1,340
Other investments | 1,816 | 1,726
Cash and cash equivalents | 4,710 | 5,051
Asset derivatives | 0 | 0
Total assets | 30,314 | 40,649
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 | 0
Level 1 | Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 0 |
Level 1 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 22,987 | 32,532
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 | 49,036 | 64,866
Equity securities | 66 | 90
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 1,146 | 936
Total assets | 50,248 | 65,892
Liabilities: |  |
Total liabilities | 2,088 | 1,619
Level 2 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 146 | 137
Liabilities: |  |
Liability derivatives | 462 | 427
Level 2 | Foreign currency forwards |  |
Assets: |  |
Asset derivatives | 995 | 791
Liabilities: |  |
Liability derivatives | 1,035 | 1,138
Level 2 | Foreign currency options |  |
Assets: |  |
Asset derivatives | 5 | 8
Level 2 | Interest rate swaps |  |
Liabilities: |  |
Liability derivatives | 590 | 54
Level 2 | Forward bond purchase commitment |  |
Liabilities: |  |
Liability derivatives | 1 |
Level 2 | Government and agencies |  |
Assets: |  |
Available for sale, fixed maturity securities | 923 | 1,288
Level 2 | Municipalities |  |
Assets: |  |
Available for sale, fixed maturity securities | 2,276 | 3,036
Level 2 | Mortgage- and asset-backed securities |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,699 | 955
Level 2 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 6,843 | 9,558
Level 2 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 828 | 1,072
Level 2 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 8,883 | 11,546
Level 2 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | 27,584 | 37,411
Level 3 |  |
Assets: |  |
Available for sale, fixed maturity securities | 1,620 | 1,298
Equity securities | 197 | 173
Other investments | 0 | 0
Cash and cash equivalents | 0 | 0
Asset derivatives | 0 | 0
Total assets | 1,817 | 1,471
Liabilities: |  |
Total liabilities | 0 | 0
Level 3 | Foreign currency swaps |  |
Assets: |  |
Asset derivatives | 0 | 0
Liabilities: |  |
Liability derivatives | 0 | 0
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 | 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 | 310 | 291
Level 3 | Public utilities |  |
Assets: |  |
Available for sale, fixed maturity securities | 507 | 493
Level 3 | Sovereign and supranational |  |
Assets: |  |
Available for sale, fixed maturity securities | 34 | 43
Level 3 | Banks/financial institutions |  |
Assets: |  |
Available for sale, fixed maturity securities | 148 | 45
Level 3 | Other corporate |  |
Assets: |  |
Available for sale, fixed maturity securities | $ 621 | $ 426

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