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Investments (Tables) | 12 Months Ended
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Dec. 31, 2021
Investments [Abstract] |
Debt Securities, Available-for-sale | The following tables provide information relating to investments in fixed maturity securities by type as of December 31, 2021 and 2020 (dollars in millions):
December 31, 2021: |  | Amortized Cost |  | Allowance for Credit Losses |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |  | % of Total
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 35,239 |  |  | $ | 26 |  |  | $ | 3,084 |  |  | $ | 194 |  |  | $ | 38,103 |  |  | 62.8 | %
Canadian government |  | 3,339 |  |  | — |  |  | 1,606 |  |  | 1 |  |  | 4,944 |  |  | 8.1 |
RMBS |  | 1,020 |  |  | — |  |  | 37 |  |  | 7 |  |  | 1,050 |  |  | 1.7 |
ABS |  | 4,024 |  |  | — |  |  | 22 |  |  | 41 |  |  | 4,005 |  |  | 6.6 |
CMBS |  | 1,790 |  |  | 1 |  |  | 66 |  |  | 6 |  |  | 1,849 |  |  | 3.0 |
U.S. government |  | 2,082 |  |  | — |  |  | 31 |  |  | 8 |  |  | 2,105 |  |  | 3.5 |
State and political subdivisions |  | 1,191 |  |  | — |  |  | 137 |  |  | 5 |  |  | 1,323 |  |  | 2.2 |
Other foreign government |  | 7,188 |  |  | 4 |  |  | 273 |  |  | 87 |  |  | 7,370 |  |  | 12.1 |
Total fixed maturity securities |  | $ | 55,873 |  |  | $ | 31 |  |  | $ | 5,256 |  |  | $ | 349 |  |  | $ | 60,749 |  |  | 100.0 | %
December 31, 2020: |  | Amortized Cost |  | Allowance for Credit Losses |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |  | % of Total |  |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 31,963 |  |  | $ | 17 |  |  | $ | 4,356 |  |  | $ | 94 |  |  | $ | 36,208 |  |  | 63.9 | % |  |
Canadian government |  | 3,145 |  |  | — |  |  | 1,995 |  |  | — |  |  | 5,140 |  |  | 9.1 |  |  |
RMBS |  | 1,735 |  |  | — |  |  | 84 |  |  | 2 |  |  | 1,817 |  |  | 3.2 |  |  |
ABS |  | 3,099 |  |  | — |  |  | 35 |  |  | 42 |  |  | 3,092 |  |  | 5.4 |  |  |
CMBS |  | 1,790 |  |  | 3 |  |  | 102 |  |  | 21 |  |  | 1,868 |  |  | 3.3 |  |  |
U.S. government |  | 1,242 |  |  | — |  |  | 196 |  |  | 1 |  |  | 1,437 |  |  | 2.5 |  |  |
State and political subdivisions |  | 1,237 |  |  | — |  |  | 157 |  |  | 4 |  |  | 1,390 |  |  | 2.4 |  |  |
Other foreign government |  | 5,337 |  |  | — |  |  | 479 |  |  | 33 |  |  | 5,783 |  |  | 10.2 |  |  |
Total fixed maturity securities |  | $ | 49,548 |  |  | $ | 20 |  |  | $ | 7,404 |  |  | $ | 197 |  |  | $ | 56,735 |  |  | 100.0 | % |  |
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] | The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of December 31, 2021 and 2020 (dollars in millions):
| 2021 |  | 2020
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities pledged as collateral | $ | 100 |  |  | $ | 103 |  |  | $ | 148 |  |  | $ | 162 |
Fixed maturity securities received as collateral | n/a |  | 1,922 |  |  | n/a |  | 1,784 |
Assets in trust held to satisfy collateral requirements | 28,671 |  |  | 31,173 |  |  | 27,675 |  |  | 31,179 |
Concentration Risk Disclosure [Text Block] | The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s stockholders’ equity included securities of the U.S. government and its agencies, as well as the securities disclosed below, as of December 31, 2021 and 2020 (dollars in millions):
| 2021 |  | 2020
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities guaranteed or issued by: |  |  |  |  |  |  |
Government of Japan | $ | 3,080 |  |  | $ | 3,063 |  |  | $ | 1,493 |  |  | $ | 1,491 |
Canadian province of Quebec | 1,377 |  |  | 2,347 |  |  | 1,303 |  |  | 2,474 |
Canadian province of Ontario | 1,092 |  |  | 1,451 |  |  | 1,054 |  |  | 1,528 |
Investments Classified By Contractual Maturity Date [Table Text Block] | The amortized cost and estimated fair value of fixed maturity securities classified as available-for-sale as of December 31, 2021, are shown by contractual maturity in the table below (dollars in millions). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Structured securities are shown separately in the table below as they are not due at a single maturity date.
|  | Amortized Cost |  | Estimated Fair Value
Available-for-sale: |  |  |  |
Due in one year or less |  | $ | 1,641 |  |  | $ | 1,649 |
Due after one year through five years |  | 9,698 |  |  | 10,115 |
Due after five years through ten years |  | 10,969 |  |  | 11,700 |
Due after ten years |  | 26,731 |  |  | 30,381 |
Structured securities |  | 6,834 |  |  | 6,904 |
Total |  | $ | 55,873 |  |  | $ | 60,749 |
Fixed Maturity Holdings Industry Types [Table Text Block] | The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of December 31, 2021 and 2020 (dollars in millions):
December 31, 2021: |  | Amortized Cost |  | Estimated Fair Value |  | % of Total
Finance |  | $ | 13,101 |  |  | $ | 14,045 |  |  | 36.9 | %
Industrial |  | 17,857 |  |  | 19,375 |  |  | 50.8 |
Utility |  | 4,281 |  |  | 4,683 |  |  | 12.3 |
Total |  | $ | 35,239 |  |  | $ | 38,103 |  |  | 100.0 | %
December 31, 2020: |  | Amortized Cost |  | Estimated Fair Value |  | % of Total
Finance |  | $ | 11,785 |  |  | $ | 13,236 |  |  | 36.6 | %
Industrial |  | 16,274 |  |  | 18,435 |  |  | 50.9 |
Utility |  | 3,904 |  |  | 4,537 |  |  | 12.5 |
Total |  | $ | 31,963 |  |  | $ | 36,208 |  |  | 100.0 | %
Roll Forward Of Cumulative Credit Loss Component Of Otti Income Loss [Table Text Block] |
For the year ended December 31, 2021: |  | Corporate |  | CMBS |  | Other Foreign Government |  | Total
Balance, beginning of period |  | $ | 17 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 20 |
Credit losses recognized on securities for which credit losses were not previously recorded |  | 21 |  |  | 1 |  |  | 5 |  |  | 27 |
Reductions for securities sold during the period |  | (10) |  |  | (2) |  |  | (1) |  |  | (13) |
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period |  | (2) |  |  | (1) |  |  | — |  |  | (3) |
Balance, end of period |  | $ | 26 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 31 |
For the year ended December 31, 2020: |  | Corporate |  | CMBS |  | Other Foreign Government |  | Total
Balance, beginning of period |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Credit losses recognized on securities for which credit losses were not previously recorded |  | 36 |  |  | 3 |  |  | 2 |  |  | 41 |
Reductions for securities sold during the period |  | (19) |  |  | — |  |  | (2) |  |  | (21) |
Balance, end of period |  | $ | 17 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 20 |
Fair Value And Investments In Debt And Equity Securities Disclosures [Table Text Block] | The following table presents the estimated fair values and gross unrealized losses for the 1,862 fixed maturity securities for which an allowance for credit loss has not been recorded as of December 31, 2021, and the estimated fair value had declined and remained below amortized cost (dollars in millions). These investments are presented by class and grade of security, as well as the length of time the related fair value has continuously remained below amortized cost.
|  | Less than 12 months |  | 12 months or greater |  | Total
December 31, 2021: |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
Investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 4,135 |  |  | $ | 86 |  |  | $ | 946 |  |  | $ | 51 |  |  | $ | 5,081 |  |  | $ | 137 |
Canadian government |  | 20 |  |  | 1 |  |  | — |  |  | — |  |  | 20 |  |  | 1 |
RMBS |  | 132 |  |  | 3 |  |  | 102 |  |  | 4 |  |  | 234 |  |  | 7 |
ABS |  | 1,747 |  |  | 22 |  |  | 589 |  |  | 6 |  |  | 2,336 |  |  | 28 |
CMBS |  | 152 |  |  | 2 |  |  | 35 |  |  | 2 |  |  | 187 |  |  | 4 |
U.S. government |  | 1,513 |  |  | 6 |  |  | 31 |  |  | 2 |  |  | 1,544 |  |  | 8 |
State and political subdivisions |  | 109 |  |  | 3 |  |  | 28 |  |  | 2 |  |  | 137 |  |  | 5 |
Other foreign government |  | 2,237 |  |  | 33 |  |  | 724 |  |  | 37 |  |  | 2,961 |  |  | 70 |
Total investment grade securities |  | 10,045 |  |  | 156 |  |  | 2,455 |  |  | 104 |  |  | 12,500 |  |  | 260 |
Below investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 463 |  |  | 13 |  |  | 97 |  |  | 44 |  |  | 560 |  |  | 57 |
ABS |  | — |  |  | — |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |
CMBS |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other foreign government |  | 136 |  |  | 7 |  |  | 75 |  |  | 10 |  |  | 211 |  |  | 17 |
Total below investment grade securities |  | 599 |  |  | 20 |  |  | 185 |  |  | 67 |  |  | 784 |  |  | 87 |
Total fixed maturity securities |  | $ | 10,644 |  |  | $ | 176 |  |  | $ | 2,640 |  |  | $ | 171 |  |  | $ | 13,284 |  |  | $ | 347 |
The following table presents the estimated fair values and gross unrealized losses for the 877 fixed maturity securities that have estimated fair values below amortized cost as of December 31, 2020 (dollars in millions). These investments are presented by class and grade of security, as well as the length of time the related fair value has continuously remained below amortized cost.
|  | Less than 12 months |  | 12 months or greater |  | Total
December 31, 2020: |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses |  | Estimated Fair Value |  | Gross Unrealized Losses
Investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 930 |  |  | $ | 29 |  |  | $ | 70 |  |  | $ | 5 |  |  | $ | 1,000 |  |  | $ | 34 |
Canadian government |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
RMBS |  | 294 |  |  | 2 |  |  | — |  |  | — |  |  | 294 |  |  | 2 |
ABS |  | 1,096 |  |  | 17 |  |  | 570 |  |  | 11 |  |  | 1,666 |  |  | 28 |
CMBS |  | 160 |  |  | 6 |  |  | — |  |  | — |  |  | 160 |  |  | 6 |
U.S. government |  | 27 |  |  | 1 |  |  | — |  |  | — |  |  | 27 |  |  | 1 |
State and political subdivisions |  | 66 |  |  | 1 |  |  | 16 |  |  | 3 |  |  | 82 |  |  | 4 |
Other foreign government |  | 973 |  |  | 27 |  |  | — |  |  | — |  |  | 973 |  |  | 27 |
Total investment grade securities |  | 3,546 |  |  | 83 |  |  | 656 |  |  | 19 |  |  | 4,202 |  |  | 102 |
Below investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 375 |  |  | 49 |  |  | 81 |  |  | 11 |  |  | 456 |  |  | 60 |
ABS |  | 20 |  |  | 13 |  |  | 4 |  |  | 1 |  |  | 24 |  |  | 14 |
CMBS |  | 91 |  |  | 15 |  |  | — |  |  | — |  |  | 91 |  |  | 15 |
Other foreign government |  | 36 |  |  | 3 |  |  | 28 |  |  | 3 |  |  | 64 |  |  | 6 |
Total below investment grade securities |  | 522 |  |  | 80 |  |  | 113 |  |  | 15 |  |  | 635 |  |  | 95 |
Total fixed maturity securities |  | $ | 4,068 |  |  | $ | 163 |  |  | $ | 769 |  |  | $ | 34 |  |  | $ | 4,837 |  |  | $ | 197 |
Investment Income [Table Text Block] | Major categories of investment income, net of related expenses, consist of the following (dollars in millions):
|  | For the years ended December 31,
|  | 2021 |  | 2020 |  | 2019
Fixed maturity securities available-for-sale |  | $ | 2,059 |  |  | $ | 1,928 |  |  | $ | 1,786 |
Equity securities |  | 5 |  |  | 6 |  |  | 8 |
Mortgage loans on real estate |  | 293 |  |  | 282 |  |  | 255 |
Policy loans |  | 55 |  |  | 56 |  |  | 58 |
Funds withheld at interest |  | 351 |  |  | 279 |  |  | 297 |
Short-term investments and cash and cash equivalents |  | 3 |  |  | 7 |  |  | 28 |
Other invested assets – limited partnerships and real estate joint ventures |  | 419 |  |  | 50 |  |  | 119 |
Other invested assets – all other |  | 61 |  |  | 59 |  |  | 65 |
Investment income |  | 3,246 |  |  | 2,667 |  |  | 2,616 |
Investment expense |  | (108) |  |  | (92) |  |  | (96) |
Investment income, net of related expenses |  | $ | 3,138 |  |  | $ | 2,575 |  |  | $ | 2,520 |
Gain (Loss) on Securities [Table Text Block] | Investment related gains (losses), net, consist of the following (dollars in millions):
|  | For the years ended December 31,
|  | 2021 |  | 2020 |  | 2019
Fixed maturity securities available-for-sale: |  |  |  |  |  |
Change in allowance for credit losses and impairments |  | $ | (12) |  |  | $ | (21) |  |  | $ | (31) |
Realized gains on investment activity |  | 299 |  |  | 114 |  |  | 151 |
Realized losses on investment activity |  | (65) |  |  | (82) |  |  | (50) |
Net gains (losses) on equity securities |  | 25 |  |  | (15) |  |  | 16 |
Other impairment losses and change in mortgage loan allowance for credit losses |  | 29 |  |  | (56) |  |  | (12) |
Change in fair value of certain limited partnership investments and other, net |  | 194 |  |  | 24 |  |  | 13 |
Net gains on derivatives |  | 90 |  |  | 3 |  |  | 4 |
Total investment related gains (losses), net |  | $ | 560 |  |  | $ | (33) |  |  | $ | 91 |
Schedule of Repurchase Agreements [Table Text Block] | The following table includes the amount of borrowed securities, loaned securities, and securities received as collateral as part of the securities lending program, and repurchased/reverse repurchased securities pledged, securities received, and cash loaned as of December 31, 2021 and 2020 (dollars in millions):
| 2021 |  | 2020
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Borrowed securities | $ | 374 |  |  | $ | 420 |  |  | $ | 118 |  |  | $ | 161 |
Securities lending: |  |  |  |  |  |  |
Securities loaned | 94 |  |  | 102 |  |  | 94 |  |  | 105 |
Securities received | n/a |  | 102 |  |  | n/a |  | 102 |
Repurchase program/reverse repurchase program: |  |  |  |  |  |  |
Securities pledged | 704 |  |  | 736 |  |  | 653 |  |  | 711 |
Securities received | n/a |  | 728 |  |  | n/a |  | 669 |
Cash | 10 |  |  | 10 |  |  | — |  |  | — |
Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block] | The following tables present information on the Company’s securities lending and repurchase/reverse repurchase transactions as of December 31, 2021 and 2020, respectively (dollars in millions). Collateral associated with certain borrowed securities is not included within the tables as the collateral pledged to each counterparty is the right to reinsurance treaty cash flows.
| December 31, 2021
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30 – 90 Days |  | Greater than 90 Days |  | Total
Securities lending transactions: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 94 |  |  | $ | 94 |
State and political subdivisions | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Other foreign government | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Total | — |  |  | — |  |  | — |  |  | 102 |  |  | 102 |
Repurchase/reverse repurchase transactions: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 366 |  |  | 366 |
Other foreign government | — |  |  | — |  |  | — |  |  | 370 |  |  | 370 |
Cash | — |  |  | — |  |  | — |  |  | 10 |  |  | 10 |
Total | — |  |  | — |  |  | — |  |  | 746 |  |  | 746 |
Total transactions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 848 |  |  | $ | 848 |
Gross amount of recognized liabilities for securities lending and repurchase/reverse repurchase transactions in preceding table |  | $ | 830 |
Amounts related to agreements not included in offsetting disclosure |  | $ | 18 |
| December 31, 2020
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30 – 90 Days |  | Greater than 90 Days |  | Total
Securities lending transactions: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 105 |  |  | $ | 105 |
Total | — |  |  | — |  |  | — |  |  | 105 |  |  | 105 |
Repurchase/reverse repurchase transactions: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 417 |  |  | 417 |
Other foreign government | — |  |  | — |  |  | — |  |  | 294 |  |  | 294 |
Total | — |  |  | — |  |  | — |  |  | 711 |  |  | 711 |
Total transactions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 816 |  |  | $ | 816 |
Gross amount of recognized liabilities for securities lending and repurchase/reverse repurchase transactions in preceding table |  | $ | 771 |
Amounts related to agreements not included in offsetting disclosure |  | $ | 45 |
Disclosure Of Real Estate Holdings By Property Type [Table Text Block] | The recorded investment in mortgage loans on real estate presented below is gross of unamortized deferred loan origination fees and expenses, and allowance for credit losses. The following table presents the distribution of the Company’s recorded investment in mortgage loans by property type as of December 31, 2021 and 2020 (dollars in millions):
|  | 2021 |  | 2020
|  | Carrying Value |  | Percentage of Total |  | Carrying Value |  | Percentage of Total
Property type: |  |  |  |  |  |  |  |
Office |  | $ | 1,683 |  |  | 26.6 | % |  | $ | 1,702 |  |  | 29.0 | %
Retail |  | 2,090 |  |  | 33.0 |  |  | 1,711 |  |  | 29.3 |
Industrial |  | 1,249 |  |  | 19.7 |  |  | 1,210 |  |  | 20.6 |
Apartment |  | 801 |  |  | 12.7 |  |  | 808 |  |  | 13.8 |
Other commercial |  | 506 |  |  | 8.0 |  |  | 430 |  |  | 7.3 |
Recorded investment |  | 6,329 |  |  | 100.0 | % |  | 5,861 |  |  | 100.0 | %
Unamortized balance of loan origination fees and expenses |  | (11) |  |  |  |  | (10) |  |  |
Allowance for credit losses |  | (35) |  |  |  |  | (64) |  |  |
Total mortgage loans on real estate |  | $ | 6,283 |  |  |  |  | $ | 5,787 |  |  |
Disclosure of Real Estate Holdings Classified By Contractual Maturity Date [Table Text Block] | The following table presents the maturities of the Company’s recorded investment in mortgage loans as of December 31, 2021 and 2020 (dollars in millions):
|  | 2021 |  | 2020
|  | Recorded Investment |  | % of Total |  | Recorded Investment |  | % of Total
Due within five years |  | $ | 2,660 |  |  | 42.0 | % |  | $ | 2,276 |  |  | 38.8 | %
Due after five years through ten years |  | 2,593 |  |  | 41.0 |  |  | 2,768 |  |  | 47.3 |
Due after ten years |  | 1,076 |  |  | 17.0 |  |  | 817 |  |  | 13.9 |
Total |  | $ | 6,329 |  |  | 100.0 | % |  | $ | 5,861 |  |  | 100.0 | %
Accounts Receivable, Noncurrent, Credit Quality Indicator | The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of December 31, 2021 and 2020 (dollars in millions):
| Recorded Investment
| Debt Service Ratios |  | Construction loans |  |  |  |
| >1.20x |  | 1.00x – 1.20x |  | <1.00x |  |  | Total |  | % of Total
December 31, 2021: |  |  |  |  |  |  |  |  |  |  |
Loan-to-Value Ratio |  |  |  |  |  |  |  |  |  |  |
0% – 59.99% | $ | 3,111 |  |  | $ | 238 |  |  | $ | 51 |  |  | $ | 6 |  |  | $ | 3,406 |  |  | 53.8 | %
60% – 69.99% | 1,906 |  |  | 190 |  |  | 46 |  |  | — |  |  | 2,142 |  |  | 33.8 |
70% – 79.99% | 520 |  |  | 41 |  |  | 12 |  |  | — |  |  | 573 |  |  | 9.1 |
80% or greater | 148 |  |  | — |  |  | 60 |  |  | — |  |  | 208 |  |  | 3.3 |
Total | $ | 5,685 |  |  | $ | 469 |  |  | $ | 169 |  |  | $ | 6 |  |  | $ | 6,329 |  |  | 100.0 | %
| Recorded Investment
| Debt Service Ratios |  | Construction loans |  |  |  |
| >1.20x |  | 1.00x – 1.20x |  | <1.00x |  |  | Total |  | % of Total
December 31, 2020: |  |  |  |  |  |  |  |  |  |  |
Loan-to-Value Ratio |  |  |  |  |  |  |  |  |  |  |
0% – 59.99% | $ | 2,774 |  |  | $ | 106 |  |  | $ | 17 |  |  | $ | 12 |  |  | $ | 2,909 |  |  | 49.6 | %
60% – 69.99% | 2,013 |  |  | 62 |  |  | 33 |  |  | — |  |  | 2,108 |  |  | 36.0 |
70% – 79.99% | 555 |  |  | 49 |  |  | 13 |  |  | — |  |  | 617 |  |  | 10.5 |
80% or greater | 189 |  |  | 21 |  |  | 17 |  |  | — |  |  | 227 |  |  | 3.9 |
Total | $ | 5,531 |  |  | $ | 238 |  |  | $ | 80 |  |  | $ | 12 |  |  | $ | 5,861 |  |  | 100.0 | %
Financing Receivable Credit Quality Indicators [Table Text Block] | The following table sets forth credit quality grades by year of origination of the Company’s recorded investment in mortgage loans as of December 31, 2021 and 2020 (dollars in millions):
| Recorded Investment
| Year of Origination |  |
December 31, 2021: | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Total
Internal credit quality grade: |  |  |  |  |  |  |  |  |  |  |  |  |
High investment grade | $ | 725 |  |  | $ | 402 |  |  | $ | 645 |  |  | $ | 461 |  |  | $ | 344 |  |  | $ | 1,534 |  |  | $ | 4,111 |
Investment grade | 367 |  |  | 272 |  |  | 331 |  |  | 301 |  |  | 296 |  |  | 502 |  |  | 2,069 |
Average | 6 |  |  | — |  |  | 27 |  |  | 39 |  |  | 5 |  |  | 32 |  |  | 109 |
Watch list | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 4 |
In or near default | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36 |  |  | 36 |
Total | $ | 1,098 |  |  | $ | 674 |  |  | $ | 1,003 |  |  | $ | 801 |  |  | $ | 645 |  |  | $ | 2,108 |  |  | $ | 6,329 |
| Recorded Investment
| Year of Origination |  |
December 31, 2020: | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
Internal credit quality grade: |  |  |  |  |  |  |  |  |  |  |  |  |
High investment grade | $ | 411 |  |  | $ | 616 |  |  | $ | 493 |  |  | $ | 336 |  |  | $ | 574 |  |  | $ | 1,008 |  |  | $ | 3,438 |
Investment grade | 352 |  |  | 496 |  |  | 399 |  |  | 407 |  |  | 249 |  |  | 368 |  |  | 2,271 |
Average | — |  |  | — |  |  | — |  |  | 19 |  |  | 37 |  |  | 55 |  |  | 111 |
Watch list | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 4 |
In or near default | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 37 |  |  | 37 |
Total | $ | 763 |  |  | $ | 1,112 |  |  | $ | 892 |  |  | $ | 762 |  |  | $ | 860 |  |  | $ | 1,472 |  |  | $ | 5,861 |
Financing Receivable, Past Due | The following table presents the current and past due composition of the Company’s recorded investment in mortgage loans as of December 31, 2021 and 2020 (dollars in millions):
|  | 2021 |  | 2020
Current |  | $ | 6,329 |  |  | $ | 5,846 |
31 – 60 days past due |  | — |  |  | 15 |
Total |  | $ | 6,329 |  |  | $ | 5,861 |
Allowance For Loan And Lease Losses Provision For Loss Net [Table Text Block] | The following table presents information regarding the Company’s allowance for credit losses for mortgage loans as of December 31, 2021, 2020 and 2019 (dollars in millions):
|  | 2021 |  | 2020 |  | 2019
Balance, beginning of period |  | $ | 64 |  |  | $ | 12 |  |  | $ | 11 |
Adoption of new accounting standard |  | — |  |  | 14 |  |  | — |
Change in allowance for credit losses |  | (29) |  |  | 38 |  |  | 1 |
Balance, end of period |  | $ | 35 |  |  | $ | 64 |  |  | $ | 12 |
Schedule of Other Assets [Table Text Block] | arrying values of other invested assets as of December 31, 2021 and 2020 are as follows (dollars in millions):
|  | 2021 |  | 2020
Limited partnership interests and real estate joint ventures |  | $ | 1,996 |  |  | $ | 1,367 |
Lifetime mortgages |  | 758 |  |  | 935 |
Derivatives |  | 175 |  |  | 140 |
FVO contractholder-directed unit-linked investments |  | 52 |  |  | 289 |
Other |  | 89 |  |  | 98 |
Total other invested assets |  | $ | 3,070 |  |  | $ | 2,829 |

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