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Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Dec. 31, 2021
--- | --- | ---
Assets |  |
Fixed maturity securities available for sale | $ 30,432 | $ 31,990
Derivative investments | 145 | 816
Total financial assets at fair value | 6,229 | 5,600
Level 1 |  |
Assets |  |
Cash and cash equivalents | 2,426 | 4,360
Short term investments | 1,814 | 168
Derivative investments | 0 | 0
Total financial assets at fair value | 6,040 | 6,803
Derivatives: |  |
Total financial liabilities at fair value | 0 | 0
Level 2 |  |
Assets |  |
Cash and cash equivalents | 0 | 0
Short term investments | 774 | 2
Derivative investments | 145 | 816
Total financial assets at fair value | 25,449 | 27,948
Derivatives: |  |
Total financial liabilities at fair value | 0 | 73
Level 3 |  |
Assets |  |
Cash and cash equivalents | 0 | 0
Short term investments | 0 | 321
Derivative investments | 0 | 0
Total financial assets at fair value | 6,229 | 5,600
Derivatives: |  |
Total financial liabilities at fair value | 2,941 | 3,883
Fair Value |  |
Assets |  |
Cash and cash equivalents | 2,426 | 4,360
Short term investments | 2,588 | 491
Derivative investments | 145 | 816
Total financial assets at fair value | 37,718 | 40,351
Derivatives: |  |
Total financial liabilities at fair value | 2,941 | 3,956
Carrying Value |  |
Assets |  |
Cash and cash equivalents | 2,426 | 4,360
Short term investments | 2,588 | 491
Derivative investments | 145 | 816
Total financial assets at fair value | 37,718 | 40,351
Derivatives: |  |
Total financial liabilities at fair value | 2,941 | 3,956
Reinsurance related embedded derivative, included in other assets | Level 1 |  |
Assets |  |
Derivative investments | 0 |
Reinsurance related embedded derivative, included in other assets | Level 2 |  |
Assets |  |
Derivative investments | 191 |
Reinsurance related embedded derivative, included in other assets | Level 3 |  |
Assets |  |
Derivative investments | 0 |
Reinsurance related embedded derivative, included in other assets | Fair Value |  |
Assets |  |
Derivative investments | 191 |
Reinsurance related embedded derivative, included in other assets | Carrying Value |  |
Assets |  |
Derivative investments | 191 |
FIA embedded derivatives, included in contractholder funds | Level 1 |  |
Derivatives: |  |
Derivative liability | 0 | 0
FIA embedded derivatives, included in contractholder funds | Level 2 |  |
Derivatives: |  |
Derivative liability | 0 | 0
FIA embedded derivatives, included in contractholder funds | Level 3 |  |
Derivatives: |  |
Derivative liability | 2,941 | 3,883
FIA embedded derivatives, included in contractholder funds | Fair Value |  |
Derivatives: |  |
Derivative liability | 2,941 | 3,883
FIA embedded derivatives, included in contractholder funds | Carrying Value |  |
Derivatives: |  |
Derivative liability | 2,941 | 3,883
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities | Level 1 |  |
Derivatives: |  |
Derivative liability |  | 0
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities | Level 2 |  |
Derivatives: |  |
Derivative liability |  | 73
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities | Level 3 |  |
Derivatives: |  |
Derivative liability |  | 0
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities | Fair Value |  |
Derivatives: |  |
Derivative liability |  | 73
Reinsurance related embedded derivatives, included in accounts payable and accrued liabilities | Carrying Value |  |
Derivatives: |  |
Derivative liability |  | 73
Asset-backed securities |  |
Assets |  |
Fixed maturity securities available for sale | 9,448 | 8,695
Asset-backed securities | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Asset-backed securities | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 4,771 | 4,736
Asset-backed securities | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 4,677 | 3,959
Asset-backed securities | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 9,448 | 8,695
Asset-backed securities | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 9,448 | 8,695
Commercial mortgage-backed securities |  |
Assets |  |
Fixed maturity securities available for sale | 3,053 | 2,979
Commercial mortgage-backed securities | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Commercial mortgage-backed securities | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 3,016 | 2,944
Commercial mortgage-backed securities | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 37 | 35
Commercial mortgage-backed securities | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 3,053 | 2,979
Commercial mortgage-backed securities | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 3,053 | 2,979
Corporates |  |
Assets |  |
Fixed maturity securities available for sale | 14,184 | 16,494
Corporates | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 40 | 37
Corporates | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 12,770 | 15,322
Corporates | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 1,374 | 1,135
Corporates | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 14,184 | 16,494
Corporates | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 14,184 | 16,494
Hybrids |  |
Assets |  |
Fixed maturity securities available for sale | 769 | 912
Hybrids | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 118 | 132
Hybrids | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 651 | 780
Hybrids | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Hybrids | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 769 | 912
Hybrids | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 769 | 912
Municipals | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Municipals | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 1,278 | 1,458
Municipals | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 33 | 43
Municipals | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 1,311 | 1,501
Municipals | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 1,311 | 1,501
Residential mortgage-backed securities |  |
Assets |  |
Fixed maturity securities available for sale | 902 | 731
Residential mortgage-backed securities | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Residential mortgage-backed securities | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 893 | 731
Residential mortgage-backed securities | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 9 | 0
Residential mortgage-backed securities | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 902 | 731
Residential mortgage-backed securities | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 902 | 731
U.S. Government |  |
Assets |  |
Fixed maturity securities available for sale | 530 | 394
U.S. Government | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 530 | 394
U.S. Government | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
U.S. Government | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
U.S. Government | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 530 | 394
U.S. Government | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 530 | 394
Foreign Governments |  |
Assets |  |
Fixed maturity securities available for sale | 235 | 284
Foreign Governments | Level 1 |  |
Assets |  |
Fixed maturity securities available for sale | 0 | 0
Foreign Governments | Level 2 |  |
Assets |  |
Fixed maturity securities available for sale | 219 | 266
Foreign Governments | Level 3 |  |
Assets |  |
Fixed maturity securities available for sale | 16 | 18
Foreign Governments | Fair Value |  |
Assets |  |
Fixed maturity securities available for sale | 235 | 284
Foreign Governments | Carrying Value |  |
Assets |  |
Fixed maturity securities available for sale | 235 | 284
Preferred securities |  |
Assets |  |
Equity and preferred securities | 1,154 | 1,401
Preferred securities | Level 1 |  |
Assets |  |
Equity and preferred securities | 411 | 506
Preferred securities | Level 2 |  |
Assets |  |
Equity and preferred securities | 741 | 893
Preferred securities | Level 3 |  |
Assets |  |
Equity and preferred securities | 1 | 2
Preferred securities | Fair Value |  |
Assets |  |
Equity and preferred securities | 1,153 | 1,401
Preferred securities | Carrying Value |  |
Assets |  |
Equity and preferred securities | 1,153 | 1,401
Equity securities | Level 1 |  |
Assets |  |
Equity and preferred securities | 701 | 1,206
Equity securities | Level 2 |  |
Assets |  |
Equity and preferred securities | 0 | 0
Equity securities | Level 3 |  |
Assets |  |
Equity and preferred securities | 10 | 9
Equity securities | Fair Value |  |
Assets |  |
Equity and preferred securities | 711 | 1,215
Equity securities | Carrying Value |  |
Assets |  |
Equity and preferred securities | 711 | 1,215
Other long-term investments | Level 1 |  |
Assets |  |
Other long-term investments | 0 | 0
Other long-term investments | Level 2 |  |
Assets |  |
Other long-term investments | 0 | 0
Other long-term investments | Level 3 |  |
Assets |  |
Other long-term investments | 72 | 78
Other long-term investments | Fair Value |  |
Assets |  |
Other long-term investments | 72 | 78
Other long-term investments | Carrying Value |  |
Assets |  |
Other long-term investments | $ 72 | $ 78

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