XML 55 R40.htm IDEA: XBRL DOCUMENT
v3.20.4

Fair Value of Assets and Liabilities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019 are summarized below (dollars in millions):
December 31, 2020: |  |  |  | Fair Value Measurements Using:
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Fixed maturity securities – available-for-sale: |  |  |  |  |  |  |  |
Corporate |  | $ | 36,208 |  |  | $ | — |  |  | $ | 33,179 |  |  | $ | 3,029 |
Canadian government |  | 5,140 |  |  | — |  |  | 5,140 |  |  | — |
RMBS |  | 1,817 |  |  | — |  |  | 1,814 |  |  | 3 |
ABS |  | 3,092 |  |  | — |  |  | 2,896 |  |  | 196 |
CMBS |  | 1,868 |  |  | — |  |  | 1,813 |  |  | 55 |
U.S. government |  | 1,437 |  |  | 1,312 |  |  | 111 |  |  | 14 |
State and political subdivisions |  | 1,390 |  |  | — |  |  | 1,381 |  |  | 9 |
Other foreign government |  | 5,783 |  |  | — |  |  | 5,766 |  |  | 17 |
Total fixed maturity securities – available-for-sale |  | 56,735 |  |  | 1,312 |  |  | 52,100 |  |  | 3,323 |
Equity securities |  | 132 |  |  | 79 |  |  | — |  |  | 53 |
Funds withheld at interest – embedded derivatives & other |  | 114 |  |  | — |  |  | — |  |  | 114 |
Cash equivalents |  | 1,478 |  |  | 1,478 |  |  | — |  |  | — |
Short-term investments |  | 197 |  |  | 32 |  |  | 150 |  |  | 15 |
Other invested assets: |  |  |  |  |  |  |  |
Derivatives |  | 140 |  |  | — |  |  | 140 |  |  | — |
FVO contractholder-directed unit-linked investments |  | 289 |  |  | 224 |  |  | 65 |  |  | — |
Total other invested assets |  | 429 |  |  | 224 |  |  | 205 |  |  | — |
Total |  | $ | 59,085 |  |  | $ | 3,125 |  |  | $ | 52,455 |  |  | $ | 3,505 |
Liabilities: |  |  |  |  |  |  |  |
Interest-sensitive contract liabilities – embedded derivatives |  | $ | 907 |  |  | $ | — |  |  | $ | — |  |  | $ | 907 |
Other liabilities: |  |  |  |  |  |  |  |
Derivatives |  | 49 |  |  | — |  |  | 49 |  |  | — |
Total |  | $ | 956 |  |  | $ | — |  |  | $ | 49 |  |  | $ | 907 |
December 31, 2019: |  |  |  | Fair Value Measurements Using:
|  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Fixed maturity securities – available-for-sale: |  |  |  |  |  |  |  |
Corporate |  | $ | 31,393 |  |  | $ | — |  |  | $ | 29,207 |  |  | $ | 2,186 |
Canadian government |  | 4,612 |  |  | — |  |  | 3,908 |  |  | 704 |
RMBS |  | 2,398 |  |  | — |  |  | 2,349 |  |  | 49 |
ABS |  | 2,978 |  |  | — |  |  | 2,865 |  |  | 113 |
CMBS |  | 1,899 |  |  | — |  |  | 1,853 |  |  | 46 |
U.S. government |  | 2,152 |  |  | 2,030 |  |  | 106 |  |  | 16 |
State and political subdivisions |  | 1,164 |  |  | — |  |  | 1,155 |  |  | 9 |
Other foreign government |  | 4,525 |  |  | — |  |  | 4,509 |  |  | 16 |
Total fixed maturity securities – available-for-sale |  | 51,121 |  |  | 2,030 |  |  | 45,952 |  |  | 3,139 |
Equity securities |  | 320 |  |  | 243 |  |  | — |  |  | 77 |
Funds withheld at interest – embedded derivatives |  | 121 |  |  | — |  |  | — |  |  | 121 |
Cash equivalents |  | 274 |  |  | 274 |  |  | — |  |  | — |
Short-term investments |  | 32 |  |  | 4 |  |  | 26 |  |  | 2 |
Other invested assets: |  |  |  |  |  |  |  |
Derivatives |  | 117 |  |  | — |  |  | 117 |  |  | — |
FVO contractholder-directed unit-linked investments |  | 260 |  |  | 207 |  |  | 53 |  |  | — |
Total other invested assets |  | 377 |  |  | 207 |  |  | 170 |  |  | — |
Total |  | $ | 52,245 |  |  | $ | 2,758 |  |  | $ | 46,148 |  |  | $ | 3,339 |
Liabilities: |  |  |  |  |  |  |  |
Interest-sensitive contract liabilities – embedded derivatives |  | $ | 930 |  |  | $ | — |  |  | $ | — |  |  | $ | 930 |
Other liabilities: |  |  |  |  |  |  |  |
Derivatives |  | 53 |  |  | — |  |  | 53 |  |  | — |
Total |  | $ | 983 |  |  | $ | — |  |  | $ | 53 |  |  | $ | 930 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed internally by the Company as of December 31, 2020 and 2019 (dollars in millions):
|  | Estimated Fair Value |  | Valuation |  | Unobservable |  | Range (Weighted Average)
Assets: |  | 2020 |  | 2019 |  | Technique |  | Input |  | 2020 |  | 2019
Corporate |  | $ | 37 |  |  | $ | 1,070 |  |  | Market comparable securities |  | Liquidity premium |  | 0-1% (1%) |  | 0-2% (1%)
|  |  |  |  |  |  |  | EBITDA Multiple |  | 5.2x-11.2x (7.1x) |  | 5.2x-7.1x (6.7x)
ABS |  | 87 |  |  | 101 |  |  | Market comparable securities |  | Liquidity premium |  | 1-18% (1%) |  | 0-4% (1%)
U.S. government |  | 14 |  |  | 16 |  |  | Market comparable securities |  | Liquidity premium |  | 0-1% (1%) |  | 0-1% (1%)
Other foreign government |  | — |  |  | 16 |  |  | Market comparable securities |  | Liquidity premium |  | 0% |  | 0-1% (1%)
Equity securities |  | 10 |  |  | 32 |  |  | Market comparable securities |  | Liquidity premium |  | 0% |  | 4%
|  |  |  |  |  |  |  | EBITDA Multiple |  | 6.9x-10.6x (7.9x) |  | 6.9x-9.3x (7.8x)
Funds withheld at interest – embedded derivatives |  | 58 |  |  | 121 |  |  | Total return swap |  | Mortality |  | 0-100% (3%) |  | 0-100% (2%)
|  |  |  |  |  |  |  | Lapse |  | 0-35% (13%) |  | 0-35% (13%)
|  |  |  |  |  |  |  | Withdrawal |  | 0-5% (3%) |  | 0-5% (3%)
|  |  |  |  |  |  |  | CVA |  | 0-5% (1%) |  | 0-5% (1%)
|  |  |  |  |  |  |  | Crediting rate |  | 2-4% (2%) |  | 2-4% (2%)
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest-sensitive contract liabilities – embedded derivatives – indexed annuities |  | 752 |  |  | 768 |  |  | Discounted cash flow |  | Mortality |  | 0-100% (3%) |  | 0-100% (2%)
|  |  |  |  |  |  |  | Lapse |  | 0-35% (13%) |  | 0-35% (13%)
|  |  |  |  |  |  |  | Withdrawal |  | 0-5% (3%) |  | 0-5% (3%)
|  |  |  |  |  |  |  | Option budget projection |  | 2-4% (2%) |  | 2-4% (2%)
Interest-sensitive contract liabilities – embedded derivatives – variable annuities |  | 155 |  |  | 163 |  |  | Discounted cash flow |  | Mortality |  | 0-100% (2%) |  | 0-100%(1%)
|  |  |  |  |  |  |  | Lapse |  | 0-25% (4%) |  | 0-25% (5%)
|  |  |  |  |  |  |  | Withdrawal |  | 0-7% (5%) |  | 0-7% (5%)
|  |  |  |  |  |  |  | CVA |  | 0-5% (1%) |  | 0-5% (1%)
|  |  |  |  |  |  |  | Long-term volatility |  | 0-27% (13%) |  | 0-27% (12%)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
For the year ended December 31, 2020: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives & other |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 2,186 |  |  | $ | 720 |  |  | $ | 208 |  |  | $ | 25 |  |  | $ | 77 |  |  | $ | 2 |  |  | $ | 121 |  |  | $ | — |  |  | $ | (930) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | — |  |  | — |
Investment related gains (losses), net |  | (22) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | — |  |  | (63) |  |  | — |  |  | 8 |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (30) |
Included in other comprehensive income |  | 28 |  |  | 1 |  |  | (7) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Purchases(1) |  | 1,193 |  |  | — |  |  | 149 |  |  | — |  |  | 3 |  |  | 17 |  |  | 60 |  |  | — |  |  | (32) |
Sales(1) |  | (182) |  |  | — |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (229) |  |  | — |  |  | (59) |  |  | (3) |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | 77 |
Transfers into Level 3 |  | 57 |  |  | — |  |  | 38 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (4) |  |  | (704) |  |  | (70) |  |  | — |  |  | (14) |  |  | (1) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 3,029 |  |  | $ | 17 |  |  | $ | 254 |  |  | $ | 23 |  |  | $ | 53 |  |  | $ | 15 |  |  | $ | 114 |  |  | $ | — |  |  | $ | (907) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (23) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | — |  |  | (63) |  |  | — |  |  | (2) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (107) |
Included in other comprehensive income |  | (34) |  |  | 1 |  |  | (8) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
For the year ended December 31, 2019: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 1,331 |  |  | $ | 533 |  |  | $ | 103 |  |  | $ | 28 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 110 |  |  | $ | 48 |  |  | $ | (945) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | 1 |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investment related gains (losses), net |  | (11) |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 11 |  |  | — |  |  | 5 |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (57) |
Included in other comprehensive income |  | 48 |  |  | 162 |  |  | 4 |  |  | 1 |  |  | — |  |  | (1) |  |  | — |  |  | (2) |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |
Purchases(1) |  | 1,050 |  |  | 10 |  |  | 85 |  |  | — |  |  | 33 |  |  | 30 |  |  | — |  |  | — |  |  | (17) |
Sales(1) |  | (81) |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (194) |  |  | — |  |  | (63) |  |  | (4) |  |  | — |  |  | (1) |  |  | — |  |  | (58) |  |  | 84 |
Transfers into Level 3 |  | 43 |  |  | — |  |  | 86 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (1) |  |  | — |  |  | (6) |  |  | — |  |  | — |  |  | (27) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 2,186 |  |  | $ | 720 |  |  | $ | 208 |  |  | $ | 25 |  |  | $ | 77 |  |  | $ | 2 |  |  | $ | 121 |  |  | $ | — |  |  | $ | (930) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | 2 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (11) |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 11 |  |  | — |  |  | (3) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (140) |
For the year ended December 31, 2018: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 1,337 |  |  | $ | 599 |  |  | $ | 235 |  |  | $ | 64 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 122 |  |  | $ | 39 |  |  | $ | (1,014) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | (1) |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investment related gains (losses), net |  | (5) |  |  | — |  |  | 2 |  |  | — |  |  | (13) |  |  | — |  |  | (12) |  |  | — |  |  | (15) |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |
Included in other comprehensive income |  | (33) |  |  | (80) |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |
Purchases(1) |  | 509 |  |  | — |  |  | 94 |  |  | — |  |  | 14 |  |  | 3 |  |  | — |  |  | — |  |  | (19) |
Sales(1) |  | (106) |  |  | — |  |  | (7) |  |  | — |  |  | (7) |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (273) |  |  | — |  |  | (62) |  |  | (5) |  |  | — |  |  | (1) |  |  | — |  |  | 2 |  |  | 76 |
Transfers into Level 3 |  | 10 |  |  | — |  |  | 78 |  |  | 10 |  |  | 39 |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (107) |  |  | — |  |  | (234) |  |  | (41) |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 1,331 |  |  | $ | 533 |  |  | $ | 103 |  |  | $ | 28 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 110 |  |  | $ | 48 |  |  | $ | (945) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | (1) |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (6) |  |  | — |  |  | — |  |  | — |  |  | (16) |  |  | — |  |  | (12) |  |  | — |  |  | (22) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49) |
(1)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
For the year ended December 31, 2020: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives & other |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 2,186 |  |  | $ | 720 |  |  | $ | 208 |  |  | $ | 25 |  |  | $ | 77 |  |  | $ | 2 |  |  | $ | 121 |  |  | $ | — |  |  | $ | (930) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4) |  |  | — |  |  | — |
Investment related gains (losses), net |  | (22) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | — |  |  | (63) |  |  | — |  |  | 8 |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (30) |
Included in other comprehensive income |  | 28 |  |  | 1 |  |  | (7) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Purchases(1) |  | 1,193 |  |  | — |  |  | 149 |  |  | — |  |  | 3 |  |  | 17 |  |  | 60 |  |  | — |  |  | (32) |
Sales(1) |  | (182) |  |  | — |  |  | (5) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (229) |  |  | — |  |  | (59) |  |  | (3) |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | 77 |
Transfers into Level 3 |  | 57 |  |  | — |  |  | 38 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (4) |  |  | (704) |  |  | (70) |  |  | — |  |  | (14) |  |  | (1) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 3,029 |  |  | $ | 17 |  |  | $ | 254 |  |  | $ | 23 |  |  | $ | 53 |  |  | $ | 15 |  |  | $ | 114 |  |  | $ | — |  |  | $ | (907) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (23) |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | — |  |  | (63) |  |  | — |  |  | (2) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (107) |
Included in other comprehensive income |  | (34) |  |  | 1 |  |  | (8) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
For the year ended December 31, 2019: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 1,331 |  |  | $ | 533 |  |  | $ | 103 |  |  | $ | 28 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 110 |  |  | $ | 48 |  |  | $ | (945) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | 1 |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investment related gains (losses), net |  | (11) |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 11 |  |  | — |  |  | 5 |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (57) |
Included in other comprehensive income |  | 48 |  |  | 162 |  |  | 4 |  |  | 1 |  |  | — |  |  | (1) |  |  | — |  |  | (2) |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |
Purchases(1) |  | 1,050 |  |  | 10 |  |  | 85 |  |  | — |  |  | 33 |  |  | 30 |  |  | — |  |  | — |  |  | (17) |
Sales(1) |  | (81) |  |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | (1) |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (194) |  |  | — |  |  | (63) |  |  | (4) |  |  | — |  |  | (1) |  |  | — |  |  | (58) |  |  | 84 |
Transfers into Level 3 |  | 43 |  |  | — |  |  | 86 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (1) |  |  | — |  |  | (6) |  |  | — |  |  | — |  |  | (27) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 2,186 |  |  | $ | 720 |  |  | $ | 208 |  |  | $ | 25 |  |  | $ | 77 |  |  | $ | 2 |  |  | $ | 121 |  |  | $ | — |  |  | $ | (930) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | 2 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (11) |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 11 |  |  | — |  |  | (3) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (140) |
For the year ended December 31, 2018: |  | Fixed maturity securities – available-for-sale |  |  |  |  |  | Funds withheld at interest –embedded derivatives |  | Other assets – longevity and mortality swaps |  | Interest –sensitive contract liabilities embedded derivatives
|  | Corporate |  | Foreign govt |  | Structured securities |  | U.S. and local govt |  | Equity securities |  | Short-term investments |  |  |
Fair value, beginning of period |  | $ | 1,337 |  |  | $ | 599 |  |  | $ | 235 |  |  | $ | 64 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 122 |  |  | $ | 39 |  |  | $ | (1,014) |
Total gains/losses (realized/unrealized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | (1) |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Investment related gains (losses), net |  | (5) |  |  | — |  |  | 2 |  |  | — |  |  | (13) |  |  | — |  |  | (12) |  |  | — |  |  | (15) |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |
Included in other comprehensive income |  | (33) |  |  | (80) |  |  | (3) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | — |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |
Purchases(1) |  | 509 |  |  | — |  |  | 94 |  |  | — |  |  | 14 |  |  | 3 |  |  | — |  |  | — |  |  | (19) |
Sales(1) |  | (106) |  |  | — |  |  | (7) |  |  | — |  |  | (7) |  |  | — |  |  | — |  |  | — |  |  | — |
Settlements(1) |  | (273) |  |  | — |  |  | (62) |  |  | (5) |  |  | — |  |  | (1) |  |  | — |  |  | 2 |  |  | 76 |
Transfers into Level 3 |  | 10 |  |  | — |  |  | 78 |  |  | 10 |  |  | 39 |  |  | — |  |  | — |  |  | — |  |  | — |
Transfers out of Level 3 |  | (107) |  |  | — |  |  | (234) |  |  | (41) |  |  | — |  |  | (3) |  |  | — |  |  | — |  |  | — |
Fair value, end of period |  | $ | 1,331 |  |  | $ | 533 |  |  | $ | 103 |  |  | $ | 28 |  |  | $ | 33 |  |  | $ | 2 |  |  | $ | 110 |  |  | $ | 48 |  |  | $ | (945) |
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment income, net of related expenses |  | $ | (1) |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Investment related gains (losses), net |  | (6) |  |  | — |  |  | — |  |  | — |  |  | (16) |  |  | — |  |  | (12) |  |  | — |  |  | (22) |
Other revenues |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |
Interest credited |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49) |
(1)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Fair Value Assets Measured On Nonrecurring Basis [Text Block] | Nonrecurring Fair Value Measurements The following table presents information for assets measured at an estimated fair value on a nonrecurring basis during the periods presented and still held at the reporting date (for example, when there is evidence of impairment). The estimated fair values for these assets were determined using significant unobservable inputs (Level 3).
|  | Carrying Value After Measurement |  | Net Investment Gains (Losses)
|  | At December 31, |  | Years ended December 31,
(dollars in millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Limited partnership interests and real estate joint ventures(1) |  | $ | 20 |  |  | $ | 18 |  |  | $ | (17) |  |  | $ | (11) |
(1)Impairments on these investments were recognized at estimated fair value determined using the net asset values of the Company’s ownership interest as provided in the financial statements of the investees. Real estate joint ventures were recognized at estimated fair value determined using historical and forecasted information for specific properties, including net operating income, occupancy, and sales levels. The market for these investments has limited activity and price transparency.
Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block] | The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, as of December 31, 2020 and 2019 (dollars in millions). This table excludes any payables or receivables for collateral under repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.
|  |  |  | Estimated Fair |  | Fair Value Measurement Using:
December 31, 2020: |  | Carrying Value (1) |  | Value |  | Level 1 |  | Level 2 |  | Level 3 |  | NAV
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans on real estate |  | $ | 5,787 |  |  | $ | 6,167 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,167 |  |  | $ | — |
Policy loans |  | 1,258 |  |  | 1,258 |  |  | — |  |  | 1,258 |  |  | — |  |  | — |
Funds withheld at interest |  | 5,292 |  |  | 5,676 |  |  | — |  |  | — |  |  | 5,676 |  |  | — |
Cash and cash equivalents |  | 1,930 |  |  | 1,930 |  |  | 1,930 |  |  | — |  |  | — |  |  | — |
Short-term investments |  | 30 |  |  | 30 |  |  | 30 |  |  | — |  |  | — |  |  | — |
Other invested assets |  | 1,482 |  |  | 1,601 |  |  | 5 |  |  | 89 |  |  | 1,018 |  |  | 489 |
Accrued investment income |  | 511 |  |  | 511 |  |  | — |  |  | 511 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest-sensitive contract liabilities |  | $ | 18,106 |  |  | $ | 19,683 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,683 |  |  | $ | — |
Long-term debt |  | 3,573 |  |  | 3,901 |  |  | — |  |  | — |  |  | 3,901 |  |  | — |
Collateral finance and securitization notes |  | 388 |  |  | 351 |  |  | — |  |  | — |  |  | 351 |  |  | — |
December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans on real estate |  | $ | 5,706 |  |  | $ | 5,935 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,935 |  |  | $ | — |
Policy loans |  | 1,319 |  |  | 1,319 |  |  | — |  |  | 1,319 |  |  | — |  |  | — |
Funds withheld at interest |  | 5,526 |  |  | 5,870 |  |  | — |  |  | — |  |  | 5,870 |  |  | — |
Cash and cash equivalents |  | 1,175 |  |  | 1,175 |  |  | 1,175 |  |  | — |  |  | — |  |  | — |
Short-term investments |  | 32 |  |  | 32 |  |  | 32 |  |  | — |  |  | — |  |  | — |
Other invested assets |  | 1,259 |  |  | 1,278 |  |  | 5 |  |  | 68 |  |  | 803 |  |  | 402 |
Accrued investment income |  | 493 |  |  | 493 |  |  | — |  |  | 493 |  |  | — |  |  | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest-sensitive contract liabilities |  | $ | 19,163 |  |  | $ | 21,542 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,542 |  |  | $ | — |
Long-term debt |  | 2,981 |  |  | 3,179 |  |  | — |  |  | — |  |  | 3,179 |  |  | — |
Collateral finance and securitization notes |  | 598 |  |  | 551 |  |  | — |  |  | — |  |  | 551 |  |  | — |
(1)Carrying values presented herein may differ from those in the Company’s consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.

X
- Definition Carrying amounts and estimated fair value of financial instruments. + References No definition available. + Details
Name: | rga_FinancialInstrumentsCarryingAmountsAndEstimatedFairValueTableTextBlock
Namespace Prefix: | rga_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration