XML 75 R62.htm IDEA: XBRL DOCUMENT v3.22.2.2
FAIR VALUE DISCLOSURES - Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturities, AFS at fair value $ 64,600 $ 78,216
Fixed maturities, at fair value using the fair value option [1] 1,548 1,641
Liabilities:    
Notes Issued By Consolidated Variable Interest Entity, Fair Value Option [1] 1,165 1,191
Accrued interest payable for notes issued by consolidated variable interest entity 15 6
Carrying Value | Other liabilities    
Investments:    
Other equity investments 23  
Carrying Value | CLO Warehouse Debt    
Liabilities:    
Short-term debt 248 92
U.S. Treasury, government and agency    
Investments:    
Fixed maturities, AFS at fair value 6,030 15,385
State and Political Subdivisions    
Investments:    
Fixed maturities, AFS at fair value 584 662
Foreign governments    
Investments:    
Fixed maturities, AFS at fair value 926 1,152
Residential mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 476 98
Asset-backed    
Investments:    
Fixed maturities, AFS at fair value 8,745 5,934
Commercial mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 3,250 2,421
Redeemable preferred stock    
Investments:    
Fixed maturities, AFS at fair value 43 53
Recurring    
Investments:    
Fixed maturities, AFS at fair value 64,600 78,216
Fixed maturities, at fair value using the fair value option 1,548 1,641
Other equity investments 769 784
Trading securities, at fair value 631 631
Other invested assets: 2,899 7,141
Cash equivalents 2,760 3,568
Segregated securities 1,335 1,504
Amounts due from reinsurer 4,312 5,813
GMIB reinsurance contracts asset 1,289 1,848
Separate Accounts assets 108,940 146,697
Total Assets 189,083 247,843
Liabilities:    
Notes Issued By Consolidated Variable Interest Entity, Fair Value Option 1,398 1,277
Contingent payment arrangements 273 38
Total Liabilities 9,604 16,631
Recurring | Corporate    
Investments:    
Fixed maturities, AFS at fair value 44,546 52,511
Recurring | U.S. Treasury, government and agency    
Investments:    
Fixed maturities, AFS at fair value 6,030 15,385
Recurring | State and Political Subdivisions    
Investments:    
Fixed maturities, AFS at fair value 584 662
Recurring | Foreign governments    
Investments:    
Fixed maturities, AFS at fair value 926 1,152
Recurring | Residential mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 476 98
Recurring | Asset-backed    
Investments:    
Fixed maturities, AFS at fair value 8,745 5,934
Recurring | Commercial mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 3,250 2,421
Recurring | Redeemable preferred stock    
Investments:    
Fixed maturities, AFS at fair value 43 53
Recurring | Short-term investments    
Investments:    
Other invested assets: 374 30
Recurring | Assets of consolidated VIEs/VOEs    
Investments:    
Other invested assets: 481 627
Recurring | Swaps    
Investments:    
Other invested assets: (286) (473)
Recurring | Credit default swaps    
Investments:    
Other invested assets: 12 (1)
Recurring | Futures    
Investments:    
Other invested assets: 8 (1)
Recurring | Options    
Investments:    
Other invested assets: 2,310 6,959
Recurring | Swaptions    
Investments:    
Other invested assets:   0
Recurring | GMxB derivative features’ liability    
Liabilities:    
Guarantees 5,825 8,525
Recurring | SCS, SIO, MSO and IUL indexed features’ liability    
Liabilities:    
Guarantees 2,086 6,773
Recurring | Level 1    
Investments:    
Fixed maturities, AFS at fair value 0 0
Fixed maturities, at fair value using the fair value option 0
Other equity investments 270 322
Trading securities, at fair value 276 340
Other invested assets: 94 165
Cash equivalents 2,199 3,275
Segregated securities 0 0
Amounts due from reinsurer 0 0
GMIB reinsurance contracts asset 0 0
Separate Accounts assets 106,565 144,124
Total Assets 109,404 148,226
Liabilities:    
Notes Issued By Consolidated Variable Interest Entity, Fair Value Option 0 0
Contingent payment arrangements 0 0
Total Liabilities 17 16
Recurring | Level 1 | Corporate    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | U.S. Treasury, government and agency    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | State and Political Subdivisions    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Foreign governments    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Residential mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Asset-backed    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Commercial mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Redeemable preferred stock    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 1 | Short-term investments    
Investments:    
Other invested assets: 0 0
Recurring | Level 1 | Assets of consolidated VIEs/VOEs    
Investments:    
Other invested assets: 86 166
Recurring | Level 1 | Swaps    
Investments:    
Other invested assets: 0 0
Recurring | Level 1 | Credit default swaps    
Investments:    
Other invested assets: 0 0
Recurring | Level 1 | Futures    
Investments:    
Other invested assets: 8 (1)
Recurring | Level 1 | Options    
Investments:    
Other invested assets: 0 0
Recurring | Level 1 | Swaptions    
Investments:    
Other invested assets:   0
Recurring | Level 1 | GMxB derivative features’ liability    
Liabilities:    
Guarantees 0 0
Recurring | Level 1 | SCS, SIO, MSO and IUL indexed features’ liability    
Liabilities:    
Guarantees 0 0
Recurring | Level 2    
Investments:    
Fixed maturities, AFS at fair value 62,618 76,649
Fixed maturities, at fair value using the fair value option 1,174 1,440
Other equity investments 487 457
Trading securities, at fair value 303 226
Other invested assets: 2,800 6,965
Cash equivalents 561 293
Segregated securities 1,335 1,504
Amounts due from reinsurer 0 0
GMIB reinsurance contracts asset 0 0
Separate Accounts assets 2,374 2,572
Total Assets 71,652 90,106
Liabilities:    
Notes Issued By Consolidated Variable Interest Entity, Fair Value Option 1,398 1,277
Contingent payment arrangements 0 0
Total Liabilities 3,489 8,052
Recurring | Level 2 | Corporate    
Investments:    
Fixed maturities, AFS at fair value 42,635 51,007
Recurring | Level 2 | U.S. Treasury, government and agency    
Investments:    
Fixed maturities, AFS at fair value 6,030 15,385
Recurring | Level 2 | State and Political Subdivisions    
Investments:    
Fixed maturities, AFS at fair value 555 627
Recurring | Level 2 | Foreign governments    
Investments:    
Fixed maturities, AFS at fair value 926 1,152
Recurring | Level 2 | Residential mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 476 98
Recurring | Level 2 | Asset-backed    
Investments:    
Fixed maturities, AFS at fair value 8,735 5,926
Recurring | Level 2 | Commercial mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 3,218 2,401
Recurring | Level 2 | Redeemable preferred stock    
Investments:    
Fixed maturities, AFS at fair value 43 53
Recurring | Level 2 | Short-term investments    
Investments:    
Other invested assets: 374 30
Recurring | Level 2 | Assets of consolidated VIEs/VOEs    
Investments:    
Other invested assets: 390 450
Recurring | Level 2 | Swaps    
Investments:    
Other invested assets: (286) (473)
Recurring | Level 2 | Credit default swaps    
Investments:    
Other invested assets: 12 (1)
Recurring | Level 2 | Futures    
Investments:    
Other invested assets: 0 0
Recurring | Level 2 | Options    
Investments:    
Other invested assets: 2,310 6,959
Recurring | Level 2 | Swaptions    
Investments:    
Other invested assets:   0
Recurring | Level 2 | GMxB derivative features’ liability    
Liabilities:    
Guarantees 0 0
Recurring | Level 2 | SCS, SIO, MSO and IUL indexed features’ liability    
Liabilities:    
Guarantees 2,086 6,773
Recurring | Level 3    
Investments:    
Fixed maturities, AFS at fair value 1,982 1,567
Fixed maturities, at fair value using the fair value option 374 201
Other equity investments 12 5
Trading securities, at fair value 52 65
Other invested assets: 5 11
Cash equivalents 0 0
Segregated securities 0 0
Amounts due from reinsurer 4,312 5,813
GMIB reinsurance contracts asset 1,289 1,848
Separate Accounts assets 1 1
Total Assets 8,027 9,511
Liabilities:    
Notes Issued By Consolidated Variable Interest Entity, Fair Value Option 0 0
Contingent payment arrangements 273 38
Total Liabilities 6,098 8,563
Recurring | Level 3 | Corporate    
Investments:    
Fixed maturities, AFS at fair value 1,911 1,504
Recurring | Level 3 | U.S. Treasury, government and agency    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 3 | State and Political Subdivisions    
Investments:    
Fixed maturities, AFS at fair value 29 35
Recurring | Level 3 | Foreign governments    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 3 | Residential mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 3 | Asset-backed    
Investments:    
Fixed maturities, AFS at fair value 10 8
Recurring | Level 3 | Commercial mortgage-backed    
Investments:    
Fixed maturities, AFS at fair value 32 20
Recurring | Level 3 | Redeemable preferred stock    
Investments:    
Fixed maturities, AFS at fair value 0 0
Recurring | Level 3 | Short-term investments    
Investments:    
Other invested assets: 0 0
Recurring | Level 3 | Assets of consolidated VIEs/VOEs    
Investments:    
Other invested assets: 5 11
Recurring | Level 3 | Swaps    
Investments:    
Other invested assets: 0 0
Recurring | Level 3 | Credit default swaps    
Investments:    
Other invested assets: 0 0
Recurring | Level 3 | Futures    
Investments:    
Other invested assets: 0 0
Recurring | Level 3 | Options    
Investments:    
Other invested assets: 0 0
Recurring | Level 3 | Swaptions    
Investments:    
Other invested assets:   0
Recurring | Level 3 | GMxB derivative features’ liability    
Liabilities:    
Guarantees 5,825 8,525
Recurring | Level 3 | SCS, SIO, MSO and IUL indexed features’ liability    
Liabilities:    
Guarantees 0 0
Recurring | NAV    
Investments:    
Separate Accounts assets 452 404
Variable Interest Entity, Primary Beneficiary | Recurring    
Liabilities:    
Guarantees 22 18
Variable Interest Entity, Primary Beneficiary | Recurring | Level 1    
Liabilities:    
Guarantees 17 16
Variable Interest Entity, Primary Beneficiary | Recurring | Level 2    
Liabilities:    
Guarantees 5 2
Variable Interest Entity, Primary Beneficiary | Recurring | Level 3    
Liabilities:    
Guarantees $ 0 $ 0
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.