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DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions | 12 Months Ended
--- | ---
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Derivatives, Fair Value [Line Items] |  |  |
Net derivative gains (losses) | $ 1,696 | $ (4,465) | $ (1,722)
Net investment income (loss) | 3,315 | 3,846 | 3,477
Interest credited to policyholders’ account balances | (1,409) | (1,219) | (1,222)
Designated for Hedge Accounting | Cash Flow Hedge |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 2,386 | 1,876 |
Derivative Assets | 99 | 7 |
Derivative Liabilities | 379 | 437 |
Net derivative gains (losses) | (67) | (71) | (9)
Net investment income (loss) | 7 |  |
Interest credited to policyholders’ account balances | (4) | (45) | 0
Amount reclassified from AOCI to income | 230 | (82) | (87)
Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 71,455 | 80,365 |
Derivative Assets | 8,045 | 12,351 |
Derivative Liabilities | 8,113 | 11,293 |
Net derivative gains (losses) | (1,981) | (3,337) | 1,861
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Currency swaps | Designated for Hedge Accounting | Cash Flow Hedge |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 1,431 | 921 |
Derivative Assets | 99 | 7 |
Derivative Liabilities | 85 | 42 |
Net derivative gains (losses) | 19 | (2) | 0
Net investment income (loss) | 7 |  |
Interest credited to policyholders’ account balances | (4) | (45) | 0
Amount reclassified from AOCI to income | 24 | 5 | 0
Currency swaps | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 397 | 541 |
Derivative Assets | 4 | 1 |
Derivative Liabilities | 13 | 0 |
Net derivative gains (losses) | 10 | 3 | (4)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Swaps | Designated for Hedge Accounting | Cash Flow Hedge |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 955 | 955 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 294 | 395 |
Net derivative gains (losses) | (86) | (69) | (9)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 206 | (87) | (87)
Swaps | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 1,515 | 1,889 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 166 | 46 |
Net derivative gains (losses) | (492) | (2,317) | 2,832
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Futures | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 5,151 | 2,640 |
Derivative Assets | 2 | 0 |
Derivative Liabilities | 0 | 1 |
Net derivative gains (losses) | 285 | (567) | (1,011)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Swaps | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 11,188 | 13,378 |
Derivative Assets | 39 | 6 |
Derivative Liabilities | 9 | 4 |
Net derivative gains (losses) | 2,644 | (3,614) | (3,368)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Options | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 40,122 | 48,489 |
Derivative Assets | 7,583 | 12,024 |
Derivative Liabilities | 3,412 | 5,065 |
Net derivative gains (losses) | (2,750) | 3,886 | 1,663
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Futures | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 12,693 | 12,575 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 0 | 0 |
Net derivative gains (losses) | (1,688) | (728) | 1,740
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Swaptions | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Net derivative gains (losses) | 0 | 0 | 9
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Credit default swaps | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 327 | 774 |
Derivative Assets | 18 | 9 |
Derivative Liabilities | 9 | 10 |
Net derivative gains (losses) | 7 | (2) | 0
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Currency forwards | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 62 | 79 |
Derivative Assets | 31 | 8 |
Derivative Liabilities | 32 | 7 |
Net derivative gains (losses) | 3 | 2 | 0
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Margin | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 226 | 125 |
Derivative Liabilities | 0 | 0 |
Collateral | Not Designated for Hedge Accounting |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 142 | 178 |
Derivative Liabilities | 4,472 | 6,160 |
Amounts Due from Reinsurers |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 4,114 | 5,813 |
Derivative Liabilities | 0 | 0 |
Net derivative gains (losses) | (1,706) | 517 | 0
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
GMIB Reinsurance Contracts |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 1,229 | 1,848 |
Derivative Liabilities | 0 | 0 |
Net derivative gains (losses) | (581) | (625) | 417
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
GMxB Derivative Features’ Liability |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 5,764 | 8,525 |
Net derivative gains (losses) | 3,076 | 2,841 | (2,253)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
SCS, SIO, MSO and IUL Indexed Features |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 0 | 0 |
Derivative Liabilities | 4,164 | 6,773 |
Net derivative gains (losses) | 2,955 | (3,835) | (1,738)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Embedded derivatives |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 0 | 0 |
Derivative Assets | 5,343 | 7,661 |
Derivative Liabilities | 9,928 | 15,298 |
Net derivative gains (losses) | 3,744 | (1,102) | (3,574)
Net investment income (loss) | 0 |  |
Interest credited to policyholders’ account balances | 0 | 0 | 0
Amount reclassified from AOCI to income | 0 | 0 | 0
Derivative instruments including embedded derivative |  |  |
Derivatives, Fair Value [Line Items] |  |  |
Notional Amount | 73,841 | 82,241 |
Derivative Assets | 13,487 | 20,019 |
Derivative Liabilities | 18,420 | 27,028 |
Net derivative gains (losses) | 1,696 | (4,510) | (1,722)
Net investment income (loss) | 7 |  |
Interest credited to policyholders’ account balances | (4) | (45) | 0
Amount reclassified from AOCI to income | $ 230 | $ (82) | $ (87)

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