XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Investments [Abstract] |
Debt Securities, Available-for-sale | The following tables provide information relating to investments in fixed maturity securities by type as of September 30, 2022 and December 31, 2021 (dollars in millions):
September 30, 2022: |  | Amortized Cost |  | Allowance for Credit Losses |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |  | % of Total
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 38,293 |  |  | $ | 43 |  |  | $ | 163 |  |  | $ | 5,758 |  |  | $ | 32,655 |  |  | 64.6 | %
Canadian government |  | 3,124 |  |  | — |  |  | 503 |  |  | 41 |  |  | 3,586 |  |  | 7.1 |
RMBS |  | 1,054 |  |  | — |  |  | 4 |  |  | 105 |  |  | 953 |  |  | 1.9 |
ABS |  | 4,165 |  |  | 4 |  |  | 6 |  |  | 444 |  |  | 3,723 |  |  | 7.4 |
CMBS |  | 1,843 |  |  | 1 |  |  | 3 |  |  | 175 |  |  | 1,670 |  |  | 3.3 |
U.S. government |  | 1,064 |  |  | — |  |  | 3 |  |  | 204 |  |  | 863 |  |  | 1.7 |
State and political subdivisions |  | 1,254 |  |  | — |  |  | 9 |  |  | 177 |  |  | 1,086 |  |  | 2.2 |
Other foreign government |  | 6,833 |  |  | 4 |  |  | 21 |  |  | 891 |  |  | 5,959 |  |  | 11.8 |
Total fixed maturity securities |  | $ | 57,630 |  |  | $ | 52 |  |  | $ | 712 |  |  | $ | 7,795 |  |  | $ | 50,495 |  |  | 100.0 | %
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 | % |  |
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 September 30, 2022 and December 31, 2021 (dollars in millions):
| September 30, 2022 |  | December 31, 2021
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities pledged as collateral | $ | 414 |  |  | $ | 362 |  |  | $ | 100 |  |  | $ | 103 |
Fixed maturity securities received as collateral | n/a |  | 1,273 |  |  | n/a |  | 1,922 |
Assets in trust held to satisfy collateral requirements | 31,060 |  |  | 26,993 |  |  | 28,671 |  |  | 31,173 |
Concentration Risk Disclosure [Text Block] | The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s equity included securities of the U.S. government and its agencies as well as the securities disclosed below, as of September 30, 2022 and December 31, 2021 (dollars in millions).
| September 30, 2022 |  | December 31, 2021
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Fixed maturity securities guaranteed or issued by: |  |  |  |  |  |  |
Government of Japan | $ | 2,761 |  |  | $ | 2,440 |  |  | $ | 3,080 |  |  | $ | 3,063 |
Canadian province of Quebec | 1,304 |  |  | 1,646 |  |  | 1,377 |  |  | 2,347 |
Canadian province of Ontario | 964 |  |  | 1,058 |  |  | 1,092 |  |  | 1,451 |
Investments Classified By Contractual Maturity Date | The amortized cost and estimated fair value of fixed maturity securities classified as available-for-sale as of September 30, 2022, 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 |  | $ | 1,480 |  |  | $ | 1,473 |
Due after one year through five years |  | 9,448 |  |  | 9,138 |
Due after five years through ten years |  | 11,292 |  |  | 10,015 |
Due after ten years |  | 28,348 |  |  | 23,523 |
Structured securities |  | 7,062 |  |  | 6,346 |
Total |  | $ | 57,630 |  |  | $ | 50,495 |
Fixed Maturity Holdings Industry Types Weighted Average Credit Ratings [Table Text Block] | The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of September 30, 2022 and December 31, 2021 (dollars in millions):
September 30, 2022: |  |  |  | Estimated |  |
|  | Amortized Cost |  | Fair Value |  | % of Total
Finance |  | $ | 14,152 |  |  | $ | 12,064 |  |  | 36.9 | %
Industrial |  | 19,434 |  |  | 16,736 |  |  | 51.3 |
Utility |  | 4,707 |  |  | 3,855 |  |  | 11.8 |
Total |  | $ | 38,293 |  |  | $ | 32,655 |  |  | 100.0 | %
December 31, 2021: |  |  |  | Estimated |  |
|  | Amortized Cost |  | 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 | %
Financing Receivable, Allowance for Credit Loss [Table Text Block] | The following tables present the rollforward of the allowance for credit losses in fixed maturity securities by type for the nine months ended September 30, 2022 and 2021 (dollars in millions):
| Nine months ended September 30, 2022
| Corporate |  | ABS |  | CMBS |  | Other Foreign Government |  |  |  |  |  | Total
Balance, beginning of period | $ | 26 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 4 |  |  |  |  |  |  | $ | 31 |
Credit losses recognized on securities for which credit losses were not previously recorded | 26 |  |  | 4 |  |  | — |  |  | 1 |  |  |  |  |  |  | 31 |
Reductions for securities sold during the period | (9) |  |  | — |  |  | — |  |  | (3) |  |  |  |  |  |  | (12) |
Reductions for securities the Company intends to sell or more likely than not will be required to sell before recovery of its amortized cost | (4) |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | (4) |
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period | 4 |  |  | — |  |  | — |  |  | 2 |  |  |  |  |  |  | 6 |
Balance, end of period | $ | 43 |  |  | $ | 4 |  |  | $ | 1 |  |  | $ | 4 |  |  |  |  |  |  | $ | 52 |
| Nine months ended September 30, 2021
| Corporate |  | ABS |  | 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 | 5 |  |  | — |  |  | 1 |  |  | 4 |  |  |  |  |  |  | 10 |
Reductions for securities sold during the period | (8) |  |  | — |  |  | (2) |  |  | — |  |  |  |  |  |  | (10) |
Reductions for securities the Company intends to sell or more likely than not will be required to sell before recovery of its amortized cost | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
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 | $ | 12 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 4 |  |  |  |  |  |  | $ | 17 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value |
|  | Less than 12 months |  | 12 months or greater |  | Total
|  |  |  | Gross |  |  |  | Gross |  |  |  | Gross
September 30, 2022: |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
|  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
Investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | $ | 25,451 |  |  | $ | 4,761 |  |  | $ | 2,283 |  |  | $ | 811 |  |  | $ | 27,734 |  |  | $ | 5,572 |
Canadian government |  | 368 |  |  | 36 |  |  | 12 |  |  | 5 |  |  | 380 |  |  | 41 |
RMBS |  | 678 |  |  | 69 |  |  | 128 |  |  | 36 |  |  | 806 |  |  | 105 |
ABS |  | 2,333 |  |  | 296 |  |  | 1,054 |  |  | 121 |  |  | 3,387 |  |  | 417 |
CMBS |  | 1,461 |  |  | 149 |  |  | 83 |  |  | 17 |  |  | 1,544 |  |  | 166 |
U.S. government |  | 721 |  |  | 190 |  |  | 116 |  |  | 14 |  |  | 837 |  |  | 204 |
State and political subdivisions |  | 883 |  |  | 161 |  |  | 44 |  |  | 16 |  |  | 927 |  |  | 177 |
Other foreign government |  | 3,834 |  |  | 509 |  |  | 1,291 |  |  | 290 |  |  | 5,125 |  |  | 799 |
Total investment grade securities |  | 35,729 |  |  | 6,171 |  |  | 5,011 |  |  | 1,310 |  |  | 40,740 |  |  | 7,481 |
Below investment grade securities: |  |  |  |  |  |  |  |  |  |  |  |
Corporate |  | 1,144 |  |  | 118 |  |  | 202 |  |  | 62 |  |  | 1,346 |  |  | 180 |
ABS |  | 53 |  |  | 12 |  |  | 23 |  |  | 7 |  |  | 76 |  |  | 19 |
CMBS |  | 22 |  |  | 3 |  |  | 18 |  |  | 3 |  |  | 40 |  |  | 6 |
Other foreign government |  | 186 |  |  | 28 |  |  | 124 |  |  | 62 |  |  | 310 |  |  | 90 |
Total below investment grade securities |  | 1,405 |  |  | 161 |  |  | 367 |  |  | 134 |  |  | 1,772 |  |  | 295 |
Total fixed maturity securities |  | $ | 37,134 |  |  | $ | 6,332 |  |  | $ | 5,378 |  |  | $ | 1,444 |  |  | $ | 42,512 |  |  | $ | 7,776 |
|  | Less than 12 months |  | 12 months or greater |  | Total
|  |  |  | Gross |  |  |  | Gross |  |  |  | Gross
December 31, 2021: |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
|  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | 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 |
Investment Income | Major categories of net investment income consist of the following (dollars in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Fixed maturity securities available-for-sale | $ | 591 |  |  | $ | 519 |  |  | $ | 1,683 |  |  | $ | 1,530 |
Equity securities | 2 |  |  | 1 |  |  | 5 |  |  | 4 |
Mortgage loans | 74 |  |  | 81 |  |  | 223 |  |  | 220 |
Policy loans | 13 |  |  | 14 |  |  | 40 |  |  | 41 |
Funds withheld at interest | 67 |  |  | 100 |  |  | 175 |  |  | 279 |
Short-term investments and cash and cash equivalents | 7 |  |  | 1 |  |  | 11 |  |  | 2 |
Other invested assets – limited partnerships and real estate joint ventures | 43 |  |  | 96 |  |  | 281 |  |  | 327 |
Other invested assets – all other | 3 |  |  | 14 |  |  | 5 |  |  | 44 |
Investment income | 800 |  |  | 826 |  |  | 2,423 |  |  | 2,447 |
Investment expense | (31) |  |  | (30) |  |  | (90) |  |  | (80) |
Net investment income | $ | 769 |  |  | $ | 796 |  |  | $ | 2,333 |  |  | $ | 2,367 |
Gain Loss On Investments | Investment related gains (losses), net consist of the following (dollars in millions):
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Fixed maturity securities available-for-sale: |  |  |  |  |  |  |
Change in allowance for credit losses and impairments | $ | (9) |  |  | $ | (1) |  |  | $ | (36) |  |  | $ | 2 |
Realized gains on investment activity | 20 |  |  | 45 |  |  | 65 |  |  | 265 |
Realized losses on investment activity | (106) |  |  | (9) |  |  | (236) |  |  | (52) |
Net gains (losses) on equity securities | 7 |  |  | 8 |  |  | (16) |  |  | 31 |
Other impairment losses and change in mortgage loan allowance for credit losses | (6) |  |  | 4 |  |  | (9) |  |  | 25 |
Change in fair value of certain limited partnership investments and other, net | 7 |  |  | 27 |  |  | 52 |  |  | 170 |
Net gains (losses) on derivatives | (47) |  |  | (16) |  |  | (334) |  |  | 31 |
Total investment related gains (losses), net | $ | (134) |  |  | $ | 58 |  |  | $ | (514) |  |  | $ | 472 |
Schedule of Repurchase Agreements [Table Text Block] | The following table provides information relating to securities borrowing, lending and repurchase/reverse repurchase agreements as of September 30, 2022 and December 31, 2021 (dollars in millions):
| September 30, 2022 |  | December 31, 2021
| Amortized Cost |  | Estimated Fair Value |  | Amortized Cost |  | Estimated Fair Value
Securities borrowing agreements: |  |  |  |  |  |  |
Securities borrowed (1) | n/a |  | $ | 630 |  |  | n/a |  | $ | 420 |
Securities pledged as collateral (2) | 545 |  |  | 459 |  |  | 279 |  |  | 290 |
Securities lending agreements: |  |  |  |  |  |  |
Securities loaned (2) | 59 |  |  | 55 |  |  | 94 |  |  | 102 |
Securities received as collateral (3) | n/a |  | 66 |  |  | n/a |  | 102 |
Repurchase/reverse repurchase agreements: |  |  |  |  |  |  |
Securities pledged (2) | 745 |  |  | 629 |  |  | 704 |  |  | 736 |
Cash (4) | — |  |  | — |  |  | 10 |  |  | 10 |
Securities received (3) | n/a |  | 620 |  |  | n/a |  | 728 |
Cash received (5) | 66 |  |  | 66 |  |  | — |  |  | — |
(1)Securities borrowed are not reflected on the condensed consolidated balance sheets. Collateral associated with certain borrowed securities is not included within this table as the collateral pledged to the counterparty is the right to reinsurance treaty cash flows. (2)Securities loaned and pledged to counterparties are included within fixed maturity securities. (3)Securities received as collateral from counterparties are not reflected on the condensed consolidated financial statements. (4)A receivable for the cash held by counterparties is included within other assets. (5)A payable for the cash received by the Company is included within other liabilities.
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 remaining contractual maturity of the Company’s securities lending and repurchase agreements as of September 30, 2022 and December 31, 2021 (dollars in millions):
| September 30, 2022
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 Days |  | 30 – 90 Days |  | Greater than 90 Days |  | Total
Securities lending agreements: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | 42 |
State and political subdivisions | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Other foreign government | — |  |  | — |  |  | — |  |  | 10 |  |  | 10 |
Total | — |  |  | — |  |  | — |  |  | 55 |  |  | 55 |
Repurchase agreements: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 278 |  |  | 278 |
Other foreign government | — |  |  | — |  |  | 118 |  |  | 233 |  |  | 351 |
Total | — |  |  | — |  |  | 118 |  |  | 511 |  |  | 629 |
Total agreements | $ | — |  |  | $ | — |  |  | $ | 118 |  |  | $ | 566 |  |  | $ | 684 |
| 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 agreements: |  |  |  |  |  |  |  |  |
Corporate | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 94 |  |  | $ | 94 |
State and political subdivisions | — |  |  | — |  |  | — |  |  | 3 |  |  | 3 |
Other foreign government | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Total | — |  |  | — |  |  | — |  |  | 102 |  |  | 102 |
Repurchase agreements: |  |  |  |  |  |  |  |  |
Corporate | — |  |  | — |  |  | — |  |  | 366 |  |  | 366 |
Other foreign government | — |  |  | — |  |  | — |  |  | 370 |  |  | 370 |
Total | — |  |  | — |  |  | — |  |  | 736 |  |  | 736 |
Total agreements | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 838 |  |  | $ | 838 |
Disclosure Of Real Estate Holdings By Property Type [Table Text Block] | The following table presents the distribution of the Company’s recorded investment in mortgage loans by property type as of September 30, 2022 and December 31, 2021 (dollars in millions):
|  | September 30, 2022 |  | December 31, 2021
Property type: |  | Carrying Value |  | % of Total |  | Carrying Value |  | % of Total
Office |  | $ | 1,727 |  |  | 26.1 | % |  | $ | 1,683 |  |  | 26.6 | %
Retail |  | 2,317 |  |  | 35.0 |  |  | 2,090 |  |  | 33.0 |
Industrial |  | 1,431 |  |  | 21.6 |  |  | 1,249 |  |  | 19.7 |
Apartment |  | 751 |  |  | 11.4 |  |  | 801 |  |  | 12.7 |
Other commercial |  | 387 |  |  | 5.9 |  |  | 506 |  |  | 8.0 |
Recorded investment |  | 6,613 |  |  | 100.0 | % |  | 6,329 |  |  | 100.0 | %
Unamortized balance of loan origination fees and expenses |  | (12) |  |  |  |  | (11) |  |  |
Allowance for credit losses |  | (43) |  |  |  |  | (35) |  |  |
Total mortgage loans |  | $ | 6,558 |  |  |  |  | $ | 6,283 |  |  |
Mortgage Loans 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 September 30, 2022 and December 31, 2021 (dollars in millions):
|  | September 30, 2022 |  | December 31, 2021
|  | Recorded Investment |  | % of Total |  | Recorded Investment |  | % of Total
Due within five years |  | $ | 2,504 |  |  | 37.8 | % |  | $ | 2,660 |  |  | 42.0 | %
Due after five years through ten years |  | 3,047 |  |  | 46.0 |  |  | 2,593 |  |  | 41.0 |
Due after ten years |  | 1,062 |  |  | 16.2 |  |  | 1,076 |  |  | 17.0 |
Total |  | $ | 6,613 |  |  | 100.0 | % |  | $ | 6,329 |  |  | 100.0 | %
Accounts Receivable, Noncurrent, Credit Quality Indicator [Table Text Block] | The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of September 30, 2022 and December 31, 2021 (dollars in millions):
| Recorded Investment
| Debt Service Ratios |  | Construction Loans |  |  |  |
| >1.20x |  | 1.00x – 1.20x |  | <1.00x |  |  | Total |  | % of Total
September 30, 2022: |  |  |  |  |  |  |  |  |  |  |
Loan-to-Value Ratio |  |  |  |  |  |  |  |  |  |  |
0% – 59.99% | $ | 3,334 |  |  | $ | 226 |  |  | $ | 74 |  |  | $ | 27 |  |  | $ | 3,661 |  |  | 55.3 | %
60% – 69.99% | 1,946 |  |  | 181 |  |  | 113 |  |  | — |  |  | 2,240 |  |  | 33.9 |
70% – 79.99% | 434 |  |  | 34 |  |  | 35 |  |  | — |  |  | 503 |  |  | 7.6 |
80% or greater | 84 |  |  | — |  |  | 125 |  |  | — |  |  | 209 |  |  | 3.2 |
Total | $ | 5,798 |  |  | $ | 441 |  |  | $ | 347 |  |  | $ | 27 |  |  | $ | 6,613 |  |  | 100.0 | %
| 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 | %
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 September 30, 2022 and December 31, 2021 (dollars in millions):
| Recorded Investment
| Year of Origination |  |
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total
September 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |
Internal credit quality grade: |  |  |  |  |  |  |  |  |  |  |  |  |
High investment grade | $ | 619 |  |  | $ | 697 |  |  | $ | 331 |  |  | $ | 568 |  |  | $ | 417 |  |  | $ | 1,538 |  |  | $ | 4,170 |
Investment grade | 460 |  |  | 284 |  |  | 245 |  |  | 323 |  |  | 279 |  |  | 629 |  |  | 2,220 |
Average | — |  |  | 6 |  |  | — |  |  | 26 |  |  | 66 |  |  | 89 |  |  | 187 |
Watch list | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
In or near default | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36 |  |  | 36 |
Total | $ | 1,079 |  |  | $ | 987 |  |  | $ | 576 |  |  | $ | 917 |  |  | $ | 762 |  |  | $ | 2,292 |  |  | $ | 6,613 |
| Recorded Investment
| Year of Origination |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Total
December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |
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 |
Financing Receivable, Past Due [Table Text Block] | The following table presents the current and past due composition of the Company’s recorded investment in mortgage loans as of September 30, 2022 and December 31, 2021 (dollars in millions):
|  | September 30, 2022 |  | December 31, 2021
Current |  | $ | 6,577 |  |  | $ | 6,329 |
31 – 60 days past due |  | 17 |  |  | — |
Greater than 90 days |  | 19 |  |  | — |
Total |  | $ | 6,613 |  |  | $ | 6,329 |
Allowance For Mortgage Loan And Lease Losses Provision For Loss Net | The following table presents information regarding the Company’s allowance for credit losses for mortgage loans for the three and nine months ended September 30, 2022 and 2021 (dollars in millions):
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Balance, beginning of period |  | $ | 38 |  |  | $ | 45 |  |  | $ | 35 |  |  | $ | 64 |
Change in allowance for credit losses |  | 5 |  |  | (6) |  |  | 8 |  |  | (25) |
Balance, end of period |  | $ | 43 |  |  | $ | 39 |  |  | $ | 43 |  |  | $ | 39 |
Schedule Of Other Invested Assets [Table Text Block] | The carrying values of other invested assets as of September 30, 2022 and December 31, 2021 are as follows (dollars in millions):
|  | September 30, 2022 |  | December 31, 2021
Limited partnership interests and real estate joint ventures |  | $ | 2,196 |  |  | $ | 1,996 |
Lifetime mortgages |  | 786 |  |  | 758 |
Derivatives |  | 161 |  |  | 175 |
Other |  | 103 |  |  | 141 |
Total other invested assets |  | $ | 3,246 |  |  | $ | 3,070 |

X
- Definition The table presents the rollforward of valuation allowance for mortgage loans held-for-investment, by portfolio segment. + References No definition available. + Details
Name: | rga_AllowanceForLoanAndLeaseLossesProvisionForLossNetTextBlock
Namespace Prefix: | rga_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition This table presents information on how the Company diversifies its real estate holdings by property type to reduce the risk of concentration. + References No definition available. + Details
Name: | rga_DisclosureOfRealEstateHoldingsByPropertyTypeTableTextBlock
Namespace Prefix: | rga_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Investments classified by contractual maturity date. + References No definition available. + Details
Name: | rga_InvestmentsClassifiedByContractualMaturityDateTextBlock
Namespace Prefix: | rga_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Mortgage loans classified by contractual maturity date. + References No definition available. + Details
Name: | rga_MortgageLoansClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | rga_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amounts of other invested assets. + References No definition available. + Details
Name: | rga_ScheduleOfOtherInvestedAssetsTableTextBlock
Namespace Prefix: | rga_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of credit quality indicator for accounts receivable, classified as noncurrent. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 + Details
Name: | us-gaap_AccountsReceivableNoncurrentCreditQualityIndicatorTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References No definition available. + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of data and information required in the supplementary schedule applicable to management investment companies listing holdings of unaffiliated investments. + References No definition available. + Details
Name: | us-gaap_InvestmentHoldingsScheduleOfInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment income, including, but not limited to, interest and dividend income and amortization of discount (premium) derived from debt and equity securities. Excludes realized and unrealized gain (loss) on investments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.2) -URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7(a),(b)) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.8) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
Name: | us-gaap_InvestmentIncomeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=66007379&loc=d3e113888-111728 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=109249958&loc=SL6224234-111729 + Details
Name: | us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for repurchase agreements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRepurchaseAgreements
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure, as of the most recent balance sheet date, of securities or other assets sold under repurchase agreements when this amount exceeds 10 percent of total assets. Disclosure may include the following: the type of securities or assets sold under agreements to repurchase, the carrying amount, market value (including accrued interest plus any cash or other assets on deposit. The information is segregated into securities maturing (1) overnight; (2) term up to 30 days; (3) term of 30 to 90 days; (4) term over 90 days; (5) demand. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(m)(1)(ii)(A)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfUnderlyingAssetsOfRepurchaseAgreementsWhenAmountOfRepurchaseAgreementsExceeds10PercentOfAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration