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Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2022 | Mar. 31, 2021
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | $ 5,600 | $ 3,267
Assets, Total Gains (Losses) Included in Earnings | (4) | 9
Assets, Total Gains (Losses) Included in AOCI | (218) | (57)
Assets, Purchases | 501 | 406
Assets, Sales | 0 | (5)
Assets, Settlements | (179) | (140)
Assets, Net transfer In (Out) of Level 3 | (204) | (14)
Balance at End of Period | 5,496 | 3,466
Change in Unrealized Gains (Losses) Incl in OCI | (221) | 49
Liabilities |  |
Balance at Beginning of Period | 3,883 | 3,409
Liabilities, Total Gains (Losses) Included in Earnings | (488) | (111)
Liabilities, Total Gains (Losses) Included in AOCI | 0 | 0
Liabilities, Purchases | 0 | 0
Liabilities, Sales | 0 | 0
Liabilities, Settlements | 0 | (1)
Liabilities, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 3,395 | 3,297
Change in Unrealized Gains (Losses) Incl in OCI | 0 | 0
Future policy benefits |  |
Liabilities |  |
Balance at Beginning of Period |  | 5
Liabilities, Total Gains (Losses) Included in Earnings |  | 0
Liabilities, Total Gains (Losses) Included in AOCI |  | 0
Liabilities, Purchases |  | 0
Liabilities, Sales |  | 0
Liabilities, Settlements |  | (1)
Liabilities, Net transfer In (Out) of Level 3 |  | 0
Balance at End of Period |  | 4
Change in Unrealized Gains (Losses) Incl in OCI |  | 0
FIA/ IUL embedded derivatives, included in contractholder funds |  |
Liabilities |  |
Balance at Beginning of Period | 3,883 | 3,404
Liabilities, Total Gains (Losses) Included in Earnings | (488) | (111)
Liabilities, Total Gains (Losses) Included in AOCI | 0 | 0
Liabilities, Purchases | 0 | 0
Liabilities, Sales | 0 | 0
Liabilities, Settlements | 0 | 0
Liabilities, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 3,395 | 3,293
Change in Unrealized Gains (Losses) Incl in OCI |  | 0
Asset-backed securities |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 3,959 | 1,350
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | (130) | (23)
Assets, Purchases | 400 | 358
Assets, Sales | 0 | 0
Assets, Settlements | (152) | (92)
Assets, Net transfer In (Out) of Level 3 | 84 | 0
Balance at End of Period | 4,161 | 1,593
Change in Unrealized Gains (Losses) Incl in OCI | (138) | (4)
Commercial mortgage-backed securities |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 35 | 26
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | (2) | (1)
Assets, Purchases | 0 | 0
Assets, Sales | 0 | 0
Assets, Settlements | 0 | 0
Assets, Net transfer In (Out) of Level 3 | 7 | 0
Balance at End of Period | 40 | 25
Change in Unrealized Gains (Losses) Incl in OCI | (2) | 1
Corporates |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 1,135 | 1,289
Assets, Total Gains (Losses) Included in Earnings | 0 | 6
Assets, Total Gains (Losses) Included in AOCI | (74) | (39)
Assets, Purchases | 80 | 40
Assets, Sales | 0 | (5)
Assets, Settlements | (26) | (31)
Assets, Net transfer In (Out) of Level 3 | 26 | (14)
Balance at End of Period | 1,141 | 1,246
Change in Unrealized Gains (Losses) Incl in OCI | (73) | 19
Hybrids |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period |  | 4
Assets, Total Gains (Losses) Included in Earnings |  | 0
Assets, Total Gains (Losses) Included in AOCI |  | 0
Assets, Purchases |  | 0
Assets, Sales |  | 0
Assets, Settlements |  | (4)
Assets, Net transfer In (Out) of Level 3 |  | 0
Balance at End of Period |  | 0
Change in Unrealized Gains (Losses) Incl in OCI |  | 0
Municipals |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 43 | 43
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | (6) | (2)
Assets, Purchases | 0 | 0
Assets, Sales | 0 | 0
Assets, Settlements | 0 | 0
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 37 | 41
Change in Unrealized Gains (Losses) Incl in OCI | (5) | 4
Residential mortgage-backed securities |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 0 | 483
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | 0 | 12
Assets, Purchases | 0 | 5
Assets, Sales | 0 | 0
Assets, Settlements | 0 | (13)
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 0 | 487
Change in Unrealized Gains (Losses) Incl in OCI | 0 | 27
Foreign Governments |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 18 | 17
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | (1) | 0
Assets, Purchases | 0 | 0
Assets, Sales | 0 | 0
Assets, Settlements | 0 | 0
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 17 | 17
Change in Unrealized Gains (Losses) Incl in OCI | (1) | 2
Short term investments |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 321 |
Assets, Total Gains (Losses) Included in Earnings | 0 |
Assets, Total Gains (Losses) Included in AOCI | (1) |
Assets, Purchases | 20 |
Assets, Sales | 0 |
Assets, Settlements | 0 |
Assets, Net transfer In (Out) of Level 3 | (321) |
Balance at End of Period | 19 |
Change in Unrealized Gains (Losses) Incl in OCI | (1) |
Preferred securities |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 2 |
Assets, Total Gains (Losses) Included in Earnings | 0 |
Assets, Total Gains (Losses) Included in AOCI | (1) |
Assets, Purchases | 0 |
Assets, Sales | 0 |
Assets, Settlements | 0 |
Assets, Net transfer In (Out) of Level 3 | 0 |
Balance at End of Period | 1 |
Change in Unrealized Gains (Losses) Incl in OCI | (1) |
Equity securities |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 9 | 5
Assets, Total Gains (Losses) Included in Earnings | 0 | 1
Assets, Total Gains (Losses) Included in AOCI | 0 | 0
Assets, Purchases | 1 | 3
Assets, Sales | 0 | 0
Assets, Settlements | 0 | 0
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 10 | 9
Change in Unrealized Gains (Losses) Incl in OCI | 0 | 0
Available-for-sale embedded derivative |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 34 | 27
Assets, Total Gains (Losses) Included in Earnings | (4) | 2
Assets, Total Gains (Losses) Included in AOCI | 0 | 0
Assets, Purchases | 0 | 0
Assets, Sales | 0 | 0
Assets, Settlements | 0 | 0
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 30 | 29
Change in Unrealized Gains (Losses) Incl in OCI | 0 | 0
Investment in affiliate |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 21 |
Assets, Total Gains (Losses) Included in Earnings | 0 |
Assets, Total Gains (Losses) Included in AOCI | 0 |
Assets, Purchases | 0 |
Assets, Sales | 0 |
Assets, Settlements | 0 |
Assets, Net transfer In (Out) of Level 3 | 0 |
Balance at End of Period | 21 |
Change in Unrealized Gains (Losses) Incl in OCI | 0 |
Credit linked note |  |
Fixed maturity securities available-for-sale: |  |
Balance at Beginning of Period | 23 | 23
Assets, Total Gains (Losses) Included in Earnings | 0 | 0
Assets, Total Gains (Losses) Included in AOCI | (3) | (4)
Assets, Purchases | 0 | 0
Assets, Sales | 0 | 0
Assets, Settlements | (1) | 0
Assets, Net transfer In (Out) of Level 3 | 0 | 0
Balance at End of Period | 19 | 19
Change in Unrealized Gains (Losses) Incl in OCI | $ 0 | $ 0

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