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Fair Value Measurements - Assets and liabilities measured and carried at fair value in the financial statements (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017
--- | --- | ---
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | $ 41,997 | $ 38,379
Trading fixed maturities |  | 105 | 348
Equity securities, at fair value |  | 1,814 | 1,662
Assets of managed investment entities (MIE) |  | 4,700 | 4,902
Variable annuity assets (separate accounts) | [1] | 557 | 644
Derivatives including equity index call options and other assets |  | 184 | 701
Total assets accounted for at fair value |  | 49,373 | 46,636
Liabilities: |  |  |
Liabilities of managed investment entities |  | 4,512 | 4,687
Total liabilities accounted for at fair value |  | 7,281 | 7,264
Derivatives in annuity benefits accumulated |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 2,720 | 2,542
Other liabilities — derivatives |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 49 | 35
Fixed maturities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 41,997 | 38,379
Trading fixed maturities |  | 105 | 348
U.S. Government and government agencies |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 233 | 242
States, municipalities and political subdivisions |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 6,939 | 7,123
Foreign government |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 142 | 127
Residential MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 2,744 | 3,227
Commercial MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 920 | 962
Asset-backed securities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 9,811 | 7,962
Corporate and other |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 21,208 | 18,736
Equity securities |  |  |
Assets: |  |  |
Equity securities, at fair value |  | 1,814 | 1,662
Other assets — derivatives |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 16 | 0
Level 1 |  |  |
Assets: |  |  |
Assets of managed investment entities (MIE) |  | 203 | 307
Variable annuity assets (separate accounts) | [1] | 0 | 0
Total assets accounted for at fair value |  | 1,791 | 1,914
Liabilities: |  |  |
Liabilities of managed investment entities |  | 195 | 293
Total liabilities accounted for at fair value |  | 195 | 293
Level 1 | Derivatives in annuity benefits accumulated |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 0 | 0
Level 1 | Other liabilities — derivatives |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 0 | 0
Level 1 | Fixed maturities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 169 | 152
Trading fixed maturities |  | 9 | 44
Level 1 | U.S. Government and government agencies |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 141 | 122
Level 1 | States, municipalities and political subdivisions |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 1 | Foreign government |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 1 | Residential MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 1 | Commercial MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 1 | Asset-backed securities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 1 | Corporate and other |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 28 | 30
Level 1 | Equity securities |  |  |
Assets: |  |  |
Equity securities, at fair value |  | 1,410 | 1,411
Level 1 | Other assets — derivatives |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 0 | 0
Level 2 |  |  |
Assets: |  |  |
Assets of managed investment entities (MIE) |  | 4,476 | 4,572
Variable annuity assets (separate accounts) | [1] | 557 | 644
Total assets accounted for at fair value |  | 44,061 | 42,432
Liabilities: |  |  |
Liabilities of managed investment entities |  | 4,297 | 4,372
Total liabilities accounted for at fair value |  | 4,346 | 4,407
Level 2 | Derivatives in annuity benefits accumulated |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 0 | 0
Level 2 | Other liabilities — derivatives |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 49 | 35
Level 2 | Fixed maturities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 38,664 | 36,125
Trading fixed maturities |  | 96 | 304
Level 2 | U.S. Government and government agencies |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 83 | 112
Level 2 | States, municipalities and political subdivisions |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 6,880 | 6,975
Level 2 | Foreign government |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 142 | 127
Level 2 | Residential MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 2,547 | 3,105
Level 2 | Commercial MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 864 | 926
Level 2 | Asset-backed securities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 8,964 | 7,218
Level 2 | Corporate and other |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 19,184 | 17,662
Level 2 | Equity securities |  |  |
Assets: |  |  |
Equity securities, at fair value |  | 68 | 86
Level 2 | Other assets — derivatives |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 16 | 0
Level 3 |  |  |
Assets: |  |  |
Assets of managed investment entities (MIE) |  | 21 | 23
Variable annuity assets (separate accounts) | [1] | 0 | 0
Total assets accounted for at fair value |  | 3,521 | 2,290
Liabilities: |  |  |
Liabilities of managed investment entities |  | 20 | 22
Total liabilities accounted for at fair value |  | 2,740 | 2,564
Level 3 | Derivatives in annuity benefits accumulated |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 2,720 | 2,542
Level 3 | Other liabilities — derivatives |  |  |
Liabilities: |  |  |
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities |  | 0 | 0
Level 3 | Fixed maturities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 3,164 | 2,102
Trading fixed maturities |  | 0 | 0
Level 3 | U.S. Government and government agencies |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 9 | 8
Level 3 | States, municipalities and political subdivisions |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 59 | 148
Level 3 | Foreign government |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 0 | 0
Level 3 | Residential MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 197 | 122
Level 3 | Commercial MBS |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 56 | 36
Level 3 | Asset-backed securities |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 847 | 744
Level 3 | Corporate and other |  |  |
Assets: |  |  |
Available for sale (AFS) fixed maturities |  | 1,996 | 1,044
Level 3 | Equity securities |  |  |
Assets: |  |  |
Equity securities, at fair value |  | 336 | 165
Level 3 | Other assets — derivatives |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 0 | 0
Equity index call options | Equity index call options |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 184 | 701
Equity index call options | Level 1 | Equity index call options |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 0 | 0
Equity index call options | Level 2 | Equity index call options |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | 184 | 701
Equity index call options | Level 3 | Equity index call options |  |  |
Assets: |  |  |
Derivatives including equity index call options and other assets |  | $ 0 | $ 0
[1] | Variable annuity liabilities equal the fair value of variable annuity assets.

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