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INSURANCE LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2022
Insurance [Abstract] |
Schedule of Variable Annuity Contracts- GMDB GMIB | Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature Years Ended December 31, 2022, 2021 and 2020
| GMDB |  | GMIB
| Direct |  | Assumed (1) (2) |  | Ceded |  | Direct |  | Assumed (1) (2) |  | Ceded
| (in millions)
Balance, January 1, 2020 | $ | 4,780 |  |  | $ | 76 |  |  | $ | (104) |  |  | $ | 4,673 |  |  | $ | 187 |  |  | $ | (2,139) |
Paid guarantee benefits | (495) |  |  | (22) |  |  | 15 |  |  | (293) |  |  | 15 |  |  | 79 |
Other changes in reserve | 812 |  |  | 18 |  |  | 1 |  |  | 1,646 |  |  | (6) |  |  | (428) |
Balance, December 31, 2020 | $ | 5,097 |  |  | $ | 72 |  |  | $ | (88) |  |  | $ | 6,026 |  |  | $ | 196 |  |  | $ | (2,488) |
Paid guarantee benefits | (461) |  |  | (12) |  |  | 113 |  |  | (377) |  |  | (49) |  |  | 58 |
Other changes in reserve | 315 |  |  | 14 |  |  | (65) |  |  | 243 |  |  | (7) |  |  | 603 |
Impact of the Venerable Transaction | — |  |  | (74) |  |  | (2,176) |  |  | — |  |  | (140) |  |  | (2,141) |
Balance, December 31, 2021 | $ | 4,951 |  |  | $ | — |  |  | $ | (2,216) |  |  | $ | 5,892 |  |  | $ | — |  |  | $ | (3,968) |
Paid guarantee benefits | (595) |  |  | — |  |  | 249 |  |  | (602) |  |  | — |  |  | 76 |
Other changes in reserve | 886 |  |  | — |  |  | (359) |  |  | 336 |  |  | — |  |  | 646 |
Balance, December 31, 2022 | $ | 5,242 |  |  | $ | — |  |  | $ | (2,326) |  |  | $ | 5,626 |  |  | $ | — |  |  | $ | (3,246) |
______________ (1)Change in Assumed is driven by the sale of CSLRC to Venerable. (2)Includes the impact as of June 1, 2021 on the ceded reserves to Venerable. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction.
Schedule of Net Amount of Risk by Product and Guarantee | Direct Variable Annuity Contracts with GMDB and GMIB Features as of December 31, 2022
| Guarantee Type
| Return of Premium |  | Ratchet |  | Roll-Up |  | Combo |  | Total
| (in millions, except age and interest rate)
Variable annuity contracts with GMDB features |  |  |  |  |  |  |  |  |
Account Values invested in: |  |  |  |  |  |  |  |  |
General Account | $ | 16,891 |  | $ | 97 |  | $ | 46 |  | $ | 144 |  | $ | 17,178
Separate Accounts | 47,608 |  | 7,445 |  | 2,452 |  | 25,211 |  | 82,716
Total Account Values | $ | 64,499 |  | $ | 7,542 |  | $ | 2,498 |  | $ | 25,355 |  | $ | 99,894
NAR, gross | $ | 739 |  |  | $ | 1,422 |  |  | $ | 1,843 |  | $ | 23,101 |  | $ | 27,105
NAR, net of amounts reinsured | $ | 726 |  |  | $ | 1,291 |  |  | $ | 1,341 |  | $ | 12,469 |  | $ | 15,827
Average attained age of policyholders (in years) | 51.6 |  | 69.8 |  | 76.1 |  | 71.8 |  | 55.3
Percentage of policyholders over age 70 | 12.1 | % |  | 52.8 | % |  | 74.7 | % |  | 60.7 | % |  | 21.1 | %
Range of contractually specified interest rates | N/A |  | N/A |  | 3% - 6% |  | 3% - 6.5% |  | 3% - 6.5%
Variable annuity contracts with GMIB features |  |  |  |  |  |  |  |  |
Account Values invested in: |  |  |  |  |  |  |  |  |
General Account | $ | — |  |  | $ | — |  |  | $ | 14 |  | $ | 188 |  | $ | 202
Separate Accounts | — |  |  | — |  |  | 21,001 |  | 26,529 |  | 47,530
Total Account Values | $ | — |  |  | $ | — |  |  | $ | 21,015 |  | $ | 26,717 |  | $ | 47,732
NAR, gross | $ | — |  | $ | — |  | $ | 489 |  | $ | 7,540 |  | $ | 8,029
NAR, net of amounts reinsured | $ | — |  | $ | — |  | $ | 157 |  | $ | 3,071 |  | $ | 3,228
Average attained age of policyholders (in years) | N/A |  | N/A |  | 65.8 |  | 71.4 |  | 69.2
Weighted average years remaining until annuitization | N/A |  | N/A |  | 5.4 |  | 0.5 |  | 2.4
Range of contractually specified interest rates | N/A |  | N/A |  | 3% - 6% |  | 3% - 6.5% |  | 3% - 6.5%
Schedule of Fair Value of Separate Accounts by Major Category of Investment | Investment in Variable Insurance Trust Mutual Funds
| December 31, 2022 |  | December 31, 2021
Mutual Fund Type | GMDB |  | GMIB |  | GMDB |  | GMIB
| (in millions)
Equity | $ | 39,779 |  |  | $ | 14,075 |  |  | $ | 52,771 |  |  | $ | 20,015 |
Fixed income | 4,416 |  |  | 1,964 |  |  | 5,391 |  |  | 2,507 |
Balanced | 37,398 |  |  | 31,240 |  |  | 48,390 |  |  | 40,491 |
Other | 1,123 |  |  | 251 |  |  | 1,025 |  |  | 263 |
Total | $ | 82,716 |  |  | $ | 47,530 |  |  | $ | 107,577 |  |  | $ | 63,276 |
Schedule of No Lapse Guarantee Liabilities | The change in the NLG liabilities, reflected in future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below.
|  |  |  |  | Direct Liability (1)
|  |  | Year Ended December 31,
|  |  |  |  | 2022 |  | 2021 |  | 2020
|  |  |  |  | (in millions)
Beginning balance |  |  |  |  | $ | 1,096 |  |  | $ | 1,022 |  |  | $ | 898 |
Paid guarantee benefits |  |  |  |  | (79) |  |  | (84) |  |  | (39) |
Other changes in reserves |  |  |  |  | 145 |  |  | 158 |  |  | 163 |
Ending balance |  |  |  |  | $ | 1,162 |  |  | $ | 1,096 |  |  | $ | 1,022 |
_____________ (1)There were no amounts of reinsurance ceded in any period presented.

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