XML 51 R32.htm IDEA: XBRL DOCUMENT v3.23.2

Fair Value (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following represents the hierarchy for our assets and liabilities measured at fair value on a recurring basis:

			June 30, 2023
(In millions)			Total						NAV						Level 1						Level 2						Level 3
Assets
AFS securities
US government and agencies			$	4,821					$	—					$	4,814					$	7					$	—
US state, municipal and political subdivisions			1,054						—						—						1,054						—
Foreign governments			1,008						—						—						960						48
Corporate			67,410						—						10						64,940						2,460
CLO			18,521						—						—						18,521						—
ABS			11,350						—						—						6,045						5,305
CMBS			4,500						—						—						4,488						12
RMBS			6,488						—						—						6,482						6
Total AFS securities			115,152						—						4,824						102,497						7,831
Trading securities			1,628						—						24						1,566						38
Equity securities			896						—						194						635						67
Mortgage loans			34,668						—						—						—						34,668
Funds withheld at interest – embedded derivative			(4,356)						—						—						—						(4,356)
Derivative assets			5,114						—						111						5,003						—
Short-term investments			650						—						—						620						30
Other investments			547						—						—						210						337
Cash and cash equivalents			10,601						—						10,601						—						—
Restricted cash			2,203						—						2,203						—						—
Investments in related parties
AFS securities
Corporate			1,343						—						—						172						1,171
CLO			3,806						—						—						3,311						495
ABS			8,258						—						—						516						7,742
Total AFS securities – related parties			13,407						—						—						3,999						9,408
Trading securities			867						—						—						—						867
Equity securities			313						—						61						—						252
Mortgage loans			1,296						—						—						—						1,296
Investment funds			1,061						—						—						—						1,061
Funds withheld at interest – embedded derivative			(1,297)						—						—						—						(1,297)
Other investments			343						—						—						—						343
Reinsurance recoverable			1,436						—						—						—						1,436
Other assets			433						—						—						—						433
Assets of consolidated VIEs
Trading securities			1,720						—						—						295						1,425
Mortgage loans			2,113						—						—						—						2,113
Investment funds			14,109						12,758						—						—						1,351
Other investments			100						—						—						1						99
Cash and cash equivalents			122						—						122						—						—
Total assets measured at fair value			$	203,126					$	12,758					$	18,140					$	114,826					$	57,402
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	8,198					$	—					$	—					$	—					$	8,198
Universal life benefits			854						—						—						—						854
Future policy benefits
AmerUs Life Insurance Company (AmerUs) Closed Block			1,159						—						—						—						1,159
Indianapolis Life Insurance Company (ILICO) Closed Block and life benefits			571						—						—						—						571
Market risk benefits			3,195						—						—						—						3,195
Derivative liabilities			1,753						—						35						1,717						1
Other liabilities			181						—						—						(28)						209
Total liabilities measured at fair value			$	15,911					$	—					$	35					$	1,689					$	14,187

			December 31, 2022
(In millions)			Total						NAV						Level 1						Level 2						Level 3
Assets
AFS securities
US government and agencies			$	2,577					$	—					$	2,570					$	7					$	—
US state, municipal and political subdivisions			927						—						—						927						—
Foreign governments			907						—						—						906						1
Corporate			60,901						—						—						59,236						1,665
CLO			16,493						—						—						16,493						—
ABS			10,527						—						—						5,660						4,867
CMBS			4,158						—						—						4,158						—
RMBS			5,914						—						—						5,682						232
Total AFS securities			102,404						—						2,570						93,069						6,765
Trading securities			1,595						—						23						1,519						53
Equity securities			1,087						—						150						845						92
Mortgage loans			27,454						—						—						—						27,454
Funds withheld at interest – embedded derivative			(4,847)						—						—						—						(4,847)
Derivative assets			3,309						—						42						3,267						—
Short-term investments			520						—						29						455						36
Other investments			611						—						—						170						441
Cash and cash equivalents			7,779						—						7,779						—						—
Restricted cash			628						—						628						—						—
Investments in related parties
AFS securities
Corporate			982						—						—						170						812
CLO			3,079						—						—						2,776						303
ABS			5,760						—						—						218						5,542
Total AFS securities – related parties			9,821						—						—						3,164						6,657
Trading securities			878						—						—						—						878
Equity securities			279						—						—						—						279
Mortgage loans			1,302						—						—						—						1,302
Investment funds			959						—						—						—						959
Funds withheld at interest – embedded derivative			(1,425)						—						—						—						(1,425)
Other investments			303						—						—						—						303
Reinsurance recoverable			1,388						—						—						—						1,388
Other assets			481						—						—						—						481
Assets of consolidated VIEs
Trading securities			1,063						—						5						436						622
Mortgage loans			2,055						—						—						—						2,055
Investment funds			12,480						10,009						—						—						2,471
Other investments			101						—						—						2						99
Cash and cash equivalents			362						—						362						—						—
Total assets measured at fair value			$	170,587					$	10,009					$	11,588					$	102,927					$	46,063
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	5,841					$	—					$	—					$	—					$	5,841
Universal life benefits			829						—						—						—						829
Future policy benefits
AmerUs Closed Block			1,164						—						—						—						1,164
ILICO Closed Block and life benefits			548						—						—						—						548
Market risk benefits			2,970						—						—						—						2,970
Derivative liabilities			1,646						—						38						1,607						1
Other liabilities			65						—						—						(77)						142
Total liabilities measured at fair value			$	13,063					$	—					$	38					$	1,530					$	11,495

Summary of Fair Value Option

The following represents the gains (losses) recorded for instruments for which we have elected the fair value option, including related parties and consolidated VIEs:

			Three months ended June 30,												Six months ended June 30,
(In millions)			2023						2022						2023						2022
Trading securities			$	(32)					$	(161)					$	32					$	(368)
Mortgage loans			(221)						(1,149)						75						(2,065)
Investment funds			27						36						91						56
Future policy benefits			31						131						5						273
Other liabilities			(20)						—						(67)						—
Total gains (losses)			$	(215)					$	(1,143)					$	136					$	(2,104)

The following summarizes information for fair value option mortgage loans, including related parties and consolidated VIEs:

(In millions)			June 30, 2023						December 31, 2022
Unpaid principal balance			$	41,122					$	33,653
Mark to fair value			(3,045)						(2,842)
Fair value			$	38,077					$	30,811

The following represents our commercial mortgage loan portfolio 90 days or more past due and/or in non-accrual status:

(In millions)			June 30, 2023						December 31, 2022
Unpaid principal balance of commercial mortgage loans 90 days or more past due and/or in non-accrual status			$	208					$	74
Mark to fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status			(62)						(55)
Fair value of commercial mortgage loans 90 days or more past due and/or in non-accrual status			$	146					$	19
Fair value of commercial mortgage loans 90 days or more past due			$	21					$	2
Fair value of commercial mortgage loans in non-accrual status			125						19

The following represents our residential loan portfolio 90 days or more past due and/or in non-accrual status:

(In millions)			June 30, 2023						December 31, 2022
Unpaid principal balance of residential mortgage loans 90 days or more past due and/or in non-accrual status			$	439					$	522
Mark to fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status			(40)						(50)
Fair value of residential mortgage loans 90 days or more past due and/or in non-accrual status			$	399					$	472
Fair value of residential mortgage loans 90 days or more past due1			$	399					$	472
Fair value of residential mortgage loans in non-accrual status			239						360
1 As of June 30, 2023 and December 31, 2022 includes $160 million and $221 million, respectively, of residential mortgage loans that are guaranteed by US government-sponsored agencies.

The following is the estimated amount of gains (losses) included in earnings during the period attributable to changes in instrument-specific credit risk on our mortgage loan portfolio:

			Three months ended June 30,												Six months ended June 30,
(In millions)			2023						2022						2023						2022
Mortgage loans			$	(8)					$	(34)					$	(11)					$	(52)

Reconciliation of Level 3 Assets Measured on a Recurring Basis

The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis. Transfers in and out of Level 3 are primarily based on changes in the availability of pricing sources, as described in the valuation methods above.

			Three months ended June 30, 2023
									Total realized and unrealized gains (losses)
(In millions)			Beginning balance						Included in income						Included in OCI						Net purchases, issuances, sales and settlements						Net transfers in (out)						Ending balance						Total gains (losses) included in earnings1						Total gains (losses) included in OCI1
Assets
AFS securities
Foreign governments			$	1					$	—					$	—					$	47					—						$	48					$	—					$	—
Corporate			1,622						—						12						1,070						(244)						2,460						—						12
ABS			4,942						—						(31)						894						(500)						5,305						—						(30)
CMBS			—						—						—						—						12						12						—						—
RMBS			238						3						(1)						(3)						(231)						6						—						—
Trading securities			42						1						—						(3)						(2)						38						—						—
Equity securities			71						(4)						—						—						—						67						(4)						—
Mortgage loans			29,949						(195)						—						4,914						—						34,668						(195)						—
Funds withheld at interest – embedded derivative			(4,291)						(65)						—						—						—						(4,356)						—						—
Short-term investments			30						—						—						—						—						30						—						—
Other investments			286						(1)						—						52						—						337						(1)						—
Investments in related parties
AFS securities
Corporate			959						—						(1)						(2)						215						1,171						—						(1)
CLO			498						—						(3)						—						—						495						—						(3)
ABS			7,005						5						5						443						284						7,742						1						2
Trading securities			885						(4)						—						(14)						—						867						(4)						—
Equity securities			251						1						—						—						—						252						1						—
Mortgage loans			1,324						(9)						—						(19)						—						1,296						(9)						—
Investment funds			1,034						27						—						—						—						1,061						27						—
Funds withheld at interest – embedded derivative			(1,266)						(31)						—						—						—						(1,297)						—						—
Other investments			338						5						—						—						—						343						5						—
Reinsurance recoverable			1,470						(34)						—						—						—						1,436						—						—
Assets of consolidated VIEs
Trading securities			648						(4)						—						(8)						789						1,425						(4)						—
Mortgage loans			2,119						(17)						—						11						—						2,113						(17)						—
Investment funds			2,581						5						—						—						(1,235)						1,351						6						—
Other investments			97						2						—						—						—						99						2						—
Total Level 3 assets			$	50,833					$	(315)					$	(19)					$	7,382					$	(912)					$	56,969					$	(192)					$	(20)
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	(6,747)					$	(1,055)					$	—					$	(396)					$	—					$	(8,198)					$	—					$	—
Universal life benefits			(879)						25						—						—						—						(854)						—						—
Future policy benefits
AmerUs Closed Block			(1,190)						31						—						—						—						(1,159)						—						—
ILICO Closed Block and life benefits			(579)						8						—						—						—						(571)						—						—
Derivative liabilities			(1)						—						—						—						—						(1)						—						—
Other liabilities			(189)						(20)						—						—						—						(209)						—						—
Total Level 3 liabilities			$	(9,585)					$	(1,011)					$	—					$	(396)					$	—					$	(10,992)					$	—					$	—
1 Related to instruments held at end of period.

			Three months ended June 30, 2022
									Total realized and unrealized gains (losses)
(In millions)			Beginning balance						Included in income						Included in OCI						Net purchases, issuances, sales and settlements						Net transfers in (out)						Ending balance						Total gains (losses) included in earnings1						Total gains (losses) included in OCI1
Assets
AFS securities
Foreign governments			$	2					$	—					$	—					$	—					$	—					$	2					$	—					$	—
Corporate			1,499						—						(58)						40						107						1,588						—						(58)
CLO			5						—						(3)						(2)						—						—						—						—
ABS			3,783						2						(65)						148						(274)						3,594						—						(66)
CMBS			10						—						—						—						(10)						—						—						—
RMBS			—						—						—						68						—						68						—						—
Trading securities			90						(1)						—						2						(33)						58						—						—
Equity securities			438						8						—						(3)						(381)						62						8						—
Mortgage loans			23,696						(1,027)						—						2,549						—						25,218						(1,025)						—
Investment funds			19						—						—						—						—						19						—						—
Funds withheld at interest – embedded derivative			(1,882)						(2,076)						—						—						—						(3,958)						—						—
Short-term investments			59						—						(1)						—						—						58						—						—
Investments in related parties
AFS securities
Corporate			761						—						(7)						42						53						849						—						(7)
CLO			332						—						(7)						—						—						325						—						(7)
ABS			4,409						16						(125)						(1,096)						1,822						5,026						—						(126)
Trading securities			252						4						—						(808)						1,443						891						—						—
Equity securities			166						(9)						—						(119)						125						163						—						—
Mortgage loans			1,456						(72)						—						32						—						1,416						(73)						—
Investment funds			814						4						—						—						—						818						28						—
Funds withheld at interest – embedded derivative			(570)						(559)						—						—						—						(1,129)						—						—
Short-term investments			53						—						—						—						(53)						—						—						—
Reinsurance recoverable			1,814						(234)						—						—						—						1,580						—						—
Assets of consolidated VIEs
Trading securities			—						—						—						—						330						330						—						—
Mortgage loans			1,880						(50)						—						(2)						(202)						1,626						(50)						—
Investment funds			10,577						33						—						(77)						(9,480)						1,053						27						—
Other investments			1,902						—						—						31						(1,902)						31						—						—
Total Level 3 assets			$	51,565					$	(3,961)					$	(266)					$	805					$	(8,455)					$	39,688					$	(1,085)					$	(264)
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	(6,485)					$	1,519					$	—					$	(210)					$	—					$	(5,176)					$	—					$	—
Universal life benefits			(1,096)						153						—						—						—						(943)						—						—
Future policy benefits
AmerUs Closed Block			(1,378)						131						—						—						—						(1,247)						—						—
ILICO Closed Block and life benefits			(704)						81						—						—						—						(623)						—						—
Derivative liabilities			(3)						2						—						—						—						(1)						—						—
Total Level 3 liabilities			$	(9,666)					$	1,886					$	—					$	(210)					$	—					$	(7,990)					$	—					$	—
1 Related to instruments held at end of period.

			Six months ended June 30, 2023
									Total realized and unrealized gains (losses)
(In millions)			Beginning balance						Included in income						Included in OCI						Net purchases, issuances, sales and settlements						Net transfers in (out)						Ending balance						Total gains (losses) included in earnings1						Total gains (losses) included in OCI1
Assets
AFS securities
Foreign governments			$	1					$	—					$	—					$	47					$	—					$	48					$	—					$	—
Corporate			1,665						(1)						24						1,196						(424)						2,460						—						17
ABS			4,867						—						(50)						1,049						(561)						5,305						—						(46)
CMBS			—						—						—						—						12						12						—						(1)
RMBS			232						6						2						(3)						(231)						6						—						—
Trading securities			53						3						—						(7)						(11)						38						1						—
Equity securities			92						(12)						—						—						(13)						67						(12)						—
Mortgage loans			27,454						56						—						7,158						—						34,668						57						—
Funds withheld at interest – embedded derivative			(4,847)						491						—						—						—						(4,356)						—						—
Short-term investments			36						—						(2)						(30)						26						30						—						—
Other investments			441						—						—						(104)						—						337						(1)						—
Investments in related parties
AFS securities
Corporate			812						1						(8)						151						215						1,171						—						(8)
CLO			303						—						7						185						—						495						—						7
ABS			5,542						9						49						1,858						284						7,742						4						46
Trading securities			878						2						—						(13)						—						867						(1)						—
Equity securities			279						5						—						(32)						—						252						5						—
Mortgage loans			1,302						17						—						(23)						—						1,296						17						—
Investment funds			959						70						—						32						—						1,061						70						—
Funds withheld at interest – embedded derivative			(1,425)						128						—						—						—						(1,297)						—						—
Other investments			303						(2)						—						42						—						343						(2)						—
Reinsurance recoverable			1,388						48						—						—						—						1,436						—						—
Assets of consolidated VIEs
Trading securities			622						8						—						(10)						805						1,425						8						—
Mortgage loans			2,055						2						—						56						—						2,113						2						—
Investment funds			2,471						23						—						(8)						(1,135)						1,351						23						—
Other investments			99						2						—						(2)						—						99						2						—
Total Level 3 assets			$	45,582					$	856					$	22					$	11,542					$	(1,033)					$	56,969					$	173					$	15
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	(5,841)					$	(1,528)					$	—					$	(829)					$	—					$	(8,198)					$	—					$	—
Universal life benefits			(829)						(25)						—						—						—						(854)						—						—
Future policy benefits
AmerUs Closed Block			(1,164)						5						—						—						—						(1,159)						—						—
ILICO Closed Block and life benefits			(548)						(23)						—						—						—						(571)						—						—
Derivative liabilities			(1)						—						—						—						—						(1)						—						—
Other liabilities			(142)						(67)						—						—						—						(209)						—						—
Total Level 3 liabilities			$	(8,525)					$	(1,638)					$	—					$	(829)					$	—					$	(10,992)					$	—					$	—
1 Related to instruments held at end of period.

			Six months ended June 30, 2022
									Total realized and unrealized gains (losses)
(In millions)			January 1, 2022						Included in income						Included in OCI						Net purchases, issuances, sales and settlements						Net transfers in (out)						Ending balance						Total gains (losses) included in earnings1						Total gains (losses) included in OCI1
Assets
AFS securities
Foreign governments			$	2					$	—					$	—					$	—					$	—					$	2					$	—					$	—
Corporate			1,339						(3)						(77)						180						149						1,588						—						(76)
CLO			14						(2)						—						(12)						—						—						—						—
ABS			3,619						7						(95)						—						63						3,594						—						(89)
CMBS			43						—						(17)						—						(26)						—						—						1
RMBS			—						—						—						68						—						68						—						—
Trading securities			69						(6)						—						8						(13)						58						—						—
Equity securities			429						17						—						(3)						(381)						62						16						—
Mortgage loans			21,154						(1,771)						—						5,835						—						25,218						(1,767)						—
Investment funds			18						1						—						—						—						19						1						—
Funds withheld at interest – embedded derivative			—						(3,958)						—						—						—						(3,958)						—						—
Short-term investments			29						—						(1)						30						—						58						—						—
Investments in related parties
AFS securities
Corporate			670						(4)						(6)						136						53						849						—						(6)
CLO			202						—						(7)						130						—						325						—						(7)
ABS			6,445						(1)						(135)						(1,241)						(42)						5,026						—						(138)
Trading securities			1,771						(1)						—						(1,062)						183						891						—						—
Equity securities			284						(14)						—						(119)						12						163						—						—
Mortgage loans			1,369						(124)						—						171						—						1,416						(124)						—
Investment funds			2,855						28						—						(34)						(2,031)						818						28						—
Funds withheld at interest – embedded derivative			—						(1,129)						—						—						—						(1,129)						—						—
Short-term investments			—						—						—						53						(53)						—						—						—
Reinsurance recoverable			1,991						(411)						—						—						—						1,580						—						—
Assets of consolidated VIEs
Trading securities			—						—						—						—						330						330						—						—
Mortgage loans			2,152						(170)						—						(154)						(202)						1,626						(170)						—
Investment funds			1,297						28						—						161						(433)						1,053						28						—
Other investments			—						—						—						31						—						31						—						—
Total Level 3 assets			$	45,752					$	(7,513)					$	(338)					$	4,178					$	(2,391)					$	39,688					$	(1,988)					$	(315)
Liabilities
Interest sensitive contract liabilities
Embedded derivative			$	(7,408)					$	2,553					$	—					$	(321)					$	—					$	(5,176)					$	—					$	—
Universal life benefits			(1,235)						292						—						—						—						(943)						—						—
Future policy benefits
AmerUs Closed Block			(1,520)						273						—						—						—						(1,247)						—						—
ILICO Closed Block and life benefits			(742)						119						—						—						—						(623)						—						—
Derivative liabilities			(3)						2						—						—						—						(1)						—						—
Total Level 3 liabilities			$	(10,908)					$	3,239					$	—					$	(321)					$	—					$	(7,990)					$	—					$	—
1 Related to instruments held at end of period.

Gross Components of Purchases, Sales, Issuances and Settlements, net

The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above:

			Three months ended June 30, 2023
(In millions)			Purchases						Issuances						Sales						Settlements						Net purchases, issuances, sales and settlements						Transfers in						Transfers out						Net transfers in (out)
Assets
AFS securities
Foreign governments			$	53					$	—					$	—					$	(6)					$	47					$	—					$	—					$	—
Corporate			1,104						—						—						(34)						1,070						—						(244)						(244)
ABS			1,033						—						(20)						(119)						894						123						(623)						(500)
CMBS			—						—						—						—						—						12						—						12
RMBS			—						—						—						(3)						(3)						5						(236)						(231)
Trading securities			8						—						—						(11)						(3)						—						(2)						(2)
Mortgage loans			5,783						—						(31)						(838)						4,914						—						—						—
Other investments			325						—						—						(273)						52						—						—						—
Investments in related parties
AFS securities
Corporate			1						—						—						(3)						(2)						215						—						215
ABS			1,072						—						(162)						(467)						443						284						—						284
Trading securities			25						—						(37)						(2)						(14)						—						—						—
Mortgage loans			—						—						—						(19)						(19)						—						—						—
Assets of consolidated VIEs
Trading securities			10						—						(18)						—						(8)						817						(28)						789
Mortgage loans			13						—						—						(2)						11						—						—						—
Investment funds			—						—						—						—						—						327						(1,562)						(1,235)
Total Level 3 assets			$	9,427					$	—					$	(268)					$	(1,777)					$	7,382					$	1,783					$	(2,695)					$	(912)
Liabilities
Interest sensitive contract liabilities – embedded derivative			$	—					$	(558)					$	—					$	162					$	(396)					$	—					$	—					$	—
Total Level 3 liabilities			$	—					$	(558)					$	—					$	162					$	(396)					$	—					$	—					$	—

			Three months ended June 30, 2022
(In millions)			Purchases						Issuances						Sales						Settlements						Net purchases, issuances, sales and settlements						Transfers in1						Transfers out2						Net transfers in (out)
Assets
AFS securities
Corporate			$	129					$	—					$	(2)					$	(87)					$	40					$	150					$	(43)					$	107
CLO			—						—						—						(2)						(2)						—						—						—
ABS			746						—						(341)						(257)						148						30						(304)						(274)
CMBS			—						—						—						—						—						—						(10)						(10)
RMBS			68						—						—						—						68						—						—						—
Trading securities			2						—						—						—						2						9						(42)						(33)
Equity securities			—						—						(3)						—						(3)						19						(400)						(381)
Mortgage loans			3,386						—						(48)						(789)						2,549						—						—						—
Short-term investments			29						—						—						(29)						—						—						—						—
Investments in related parties
AFS securities
Corporate			52						—						—						(10)						42						53						—						53
ABS			899						—						(6)						(1,989)						(1,096)						1,822						—						1,822
Trading securities			7						—						(787)						(28)						(808)						1,443						—						1,443
Equity securities			—						—						(119)						—						(119)						125						—						125
Mortgage loans			36						—						—						(4)						32						—						—						—
Short-term investments			—						—						—						—						—						—						(53)						(53)
Assets of consolidated VIEs
Trading securities			—						—						—						—						—						330						—						330
Mortgage loans			—						—						—						(2)						(2)						21						(223)						(202)
Investment funds			33						—						(110)						—						(77)						1,006						(10,486)						(9,480)
Other investments			31						—						—						—						31						—						(1,902)						(1,902)
Total Level 3 assets			$	5,418					$	—					$	(1,416)					$	(3,197)					$	805					$	5,008					$	(13,463)					$	(8,455)
Liabilities
Interest sensitive contract liabilities – embedded derivative			$	—					$	(337)					$	—					$	127					$	(210)					$	—					$	—					$	—
Total Level 3 liabilities			$	—					$	(337)					$	—					$	127					$	(210)					$	—					$	—					$	—
1 Transfers in are primarily assets of VIEs that we consolidated effective in the second quarter of 2022.
2 Transfers out are primarily the deconsolidation of certain of our VIEs effective in the second quarter of 2022.

			Six months ended June 30, 2023
(In millions)			Purchases						Issuances						Sales						Settlements						Net purchases, issuances, sales and settlements						Transfers in						Transfers out						Net transfers in (out)
Assets
AFS securities
Foreign governments			$	53					$	—					$	—					$	(6)					$	47					$	—					$	—					$	—
Corporate			1,312						—						—						(116)						1,196						29						(453)						(424)
ABS			1,331						—						(20)						(262)						1,049						338						(899)						(561)
CMBS			—						—						—						—						—						12						—						12
RMBS			1						—						—						(4)						(3)						5						(236)						(231)
Trading securities			8						—						—						(15)						(7)						5						(16)						(11)
Equity securities			—						—						—						—						—						—						(13)						(13)
Mortgage loans			8,665						—						(63)						(1,444)						7,158						—						—						—
Short-term investments			—						—						—						(30)						(30)						26						—						26
Other investments			327						—						—						(431)						(104)						—						—						—
Investments in related parties
AFS securities
Corporate			157						—						—						(6)						151						215						—						215
CLO			185						—						—						—						185						—						—						—
ABS			2,706						—						(162)						(686)						1,858						284						—						284
Trading securities			27						—						(37)						(3)						(13)						—						—						—
Equity securities			—						—						—						(32)						(32)						—						—						—
Mortgage loans			—						—						—						(23)						(23)						—						—						—
Investment funds			32						—						—						—						32						—						—						—
Other investments			42						—						—						—						42						—						—						—
Assets of consolidated VIEs
Trading securities			20						—						(30)						—						(10)						836						(31)						805
Mortgage loans			59						—						—						(3)						56						—						—						—
Investment funds			—						—						(8)						—						(8)						475						(1,610)						(1,135)
Other investments			5						—						(7)						—						(2)						—						—						—
Total Level 3 assets			$	14,930					$	—					$	(327)					$	(3,061)					$	11,542					$	2,225					$	(3,258)					$	(1,033)
Liabilities
Interest sensitive contract liabilities – embedded derivative			$	—					$	(1,135)					$	—					$	306					$	(829)					$	—					$	—					$	—
Total Level 3 liabilities			$	—					$	(1,135)					$	—					$	306					$	(829)					$	—					$	—					$	—

			Six months ended June 30, 2022
(In millions)			Purchases						Issuances						Sales						Settlements						Net purchases, issuances, sales and settlements						Transfers in1						Transfers out2						Net transfers in (out)
Assets
AFS securities
Corporate			$	453					$	—					$	(170)					$	(103)					$	180					$	193					$	(44)					$	149
CLO			—						—						—						(12)						(12)						—						—						—
ABS			2,235						—						(1,791)						(444)						—						368						(305)						63
CMBS			—						—						—						—						—						—						(26)						(26)
RMBS			68						—						—						—						68						—						—						—
Trading securities			8						—						—						—						8						39						(52)						(13)
Equity securities			—						—						(3)						—						(3)						19						(400)						(381)
Mortgage loans			7,477						—						(130)						(1,512)						5,835						—						—						—
Short-term investments			59						—						—						(29)						30						—						—						—
Investments in related parties
AFS securities
Corporate			367						—						(217)						(14)						136						53						—						53
CLO			130						—						—						—						130						—						—						—
ABS			1,273						—						(93)						(2,421)						(1,241)						1,822						(1,864)						(42)
Trading securities			36						—						(1,052)						(46)						(1,062)						1,443						(1,260)						183
Equity securities			—						—						(119)						—						(119)						125						(113)						12
Mortgage securities			182						—						—						(11)						171						—						—						—
Investment funds			—						—						(34)						—						(34)						—						(2,031)						(2,031)
Short-term investments			53						—						—						—						53						—						(53)						(53)
Assets of consolidated VIEs
Trading securities			—						—						—						—						—						330						—						330
Mortgage loans			—						—						—						(154)						(154)						21						(223)						(202)
Investment funds			286						—						(125)						—						161						11,087						(11,520)						(433)
Other investments			31						—						—						—						31						1,902						(1,902)						—
Total Level 3 assets			$	12,658					$	—					$	(3,734)					$	(4,746)					$	4,178					$	17,402					$	(19,793)					$	(2,391)
Liabilities
Interest sensitive contract liabilities – embedded derivative			$	—					$	(597)					$	—					$	276					$	(321)					$	—					$	—					$	—
Total Level 3 liabilities			$	—					$	(597)					$	—					$	276					$	(321)					$	—					$	—					$	—
1 Transfers in are primarily assets of VIEs that we consolidated in 2022.
2 Transfers out are primarily assets of VIEs that changed consolidation status in 2022.

Summary of the Unobservable Inputs for the Embedded Derivative of Fixed Indexed Annuities

The following summarizes the unobservable inputs for AFS, trading and equity securities, mortgage loans, investment funds and the embedded derivatives of fixed indexed annuities, including those of consolidated VIEs:

						June 30, 2023
(In millions, except for percentages and multiples)						Fair value						Valuation technique						Unobservable inputs						Minimum						Maximum						Weighted average									Impact of an increase in the input on fair value
AFS, trading and equity securities						$	13,800					Discounted cash flow						Discount rate						2.2		%				18.7		%				6.9		%	1						Decrease
Mortgage loans						38,077						Discounted cash flow						Discount rate						2.0		%				24.2		%				6.5		%	1						Decrease
Investment funds						502						Discounted cash flow						Discount rate						6.4		%				6.4		%				6.4		%							Decrease
						512						Net tangible asset values						Implied multiple						1.20x						1.20x						1.20x									Increase
						337						Reported net asset value						Reported net asset value						N/A						N/A						N/A									N/A
Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives						8,198						Discounted cash flow						Nonperformance risk						0.4		%				1.8		%				1.2		%	2						Decrease
																		Option budget						0.5		%				5.7		%				2.2		%	3						Increase
																		Surrender rate						5.4		%				12.0		%				8.1		%	3						Decrease
						December 31, 2022
(In millions, except for percentages and multiples)						Fair value						Valuation technique						Unobservable inputs						Minimum						Maximum						Weighted average									Impact of an increase in the input on fair value
AFS, trading and equity securities						$	10,671					Discounted cash flow						Discount rate						2.2		%				18.8		%				6.8		%	1						Decrease
Mortgage loans						30,811						Discounted cash flow						Discount rate						1.5		%				22.1		%				6.3		%	1						Decrease
Investment funds						506						Discounted cash flow						Discount rate						6.4		%				6.4		%				6.4		%							Decrease
						873						Discounted cash flow / Guideline public equity						Discount rate / P/E						16.5% / 9x						16.5% / 9x						16.5% / 9x									Decrease/Increase
						529						Net tangible asset values						Implied multiple						1.26x						1.26x						1.26x									Increase
						563						Reported net asset value						Reported net asset value						N/A						N/A						N/A									N/A
Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives						5,841						Discounted cash flow						Nonperformance risk						0.1		%				1.7		%				1.0		%	2						Decrease
																		Option budget						0.5		%				5.3		%				1.9		%	3						Increase
																		Surrender rate						5.1		%				11.5		%				8.1		%	3						Decrease
1 The discount rate weighted average is calculated based on the relative fair values of the securities or loans.
2 The nonperformance risk weighted average is based on the projected cash flows attributable to the embedded derivative.
3 The option budget and surrender rate weighted averages are calculated based on projected account values.

The following summarizes the unobservable inputs for market risk benefits:

						June 30, 2023
(In millions, except for percentages)						Fair value						Valuation technique						Unobservable inputs						Minimum						Maximum						Weighted average									Impact of an increase in the input on fair value
Market risk benefits, net						$	2,762					Discounted cash flow						Nonperformance risk						0.4		%				1.8		%				1.5		%	1						Decrease
																		Option budget						0.5		%				5.7		%				1.8		%	2						Decrease
																		Surrender rate						3.3		%				6.9		%				4.5		%	2						Decrease
																		Utilization rate						28.6		%				95.0		%				83.1		%	3						Increase
						June 30, 2022
(In millions, except for percentages)						Fair value						Valuation technique						Unobservable inputs						Minimum						Maximum						Weighted average									Impact of an increase in the input on fair value
Market risk benefits, net						$	2,674					Discounted cash flow						Nonperformance risk						0.5		%				2.0		%				1.6		%	1						Decrease
																		Option budget						0.5		%				4.0		%				1.6		%	2						Decrease
																		Surrender rate						3.3		%				6.8		%				4.5		%	2						Decrease
																		Utilization rate						28.6		%				95.0		%				81.6		%	3						Increase
1 The nonperformance risk weighted average is based on the cash flows underlying the market risk benefit reserve.
2 The option budget and surrender rate weighted averages are calculated based on projected account values.
3 The utilization of GLWB withdrawals represents the estimated percentage of policyholders that are expected to use their income rider over the duration of the contract, with the weighted average based on current account values.

Summary of Financial Instruments Not Carried at Fair Value on the Balance Sheet

The following represents our financial instruments not carried at fair value on the condensed consolidated balance sheets:

			June 30, 2023
(In millions)			Carrying Value						Fair Value						NAV						Level 1						Level 2						Level 3
Financial assets
Investment funds			$	123					$	123					$	123					$	—					$	—					$	—
Policy loans			336						336						—						—						336						—
Funds withheld at interest			32,200						32,200						—						—						—						32,200
Other investments			194						195						—						—						—						195
Investments in related parties
Investment funds			575						575						575						—						—						—
Funds withheld at interest			10,314						10,314						—						—						—						10,314
Short-term investments			891						891						—						—						891						—
Total financial assets not carried at fair value			$	44,633					$	44,634					$	698					$	—					$	1,227					$	42,709
Financial liabilities
Interest sensitive contract liabilities			$	134,154					$	121,326					$	—					$	—					$	—					$	121,326
Debt			3,642						2,873						—						—						2,873						—
Securities to repurchase			6,261						6,261						—						—						6,261						—
Funds withheld liability			305						305						—						—						305						—
Total financial liabilities not carried at fair value			$	144,362					$	130,765					$	—					$	—					$	9,439					$	121,326

			December 31, 2022
(In millions)			Carrying Value						Fair Value						NAV						Level 1						Level 2						Level 3
Financial assets
Investment funds			$	79					$	79					$	79					$	—					$	—					$	—
Policy loans			347						347						—						—						347						—
Funds withheld at interest			37,727						37,727						—						—						—						37,727
Short-term investments			1,640						1,640						—						—						1,614						26
Other investments			162						162						—						—						—						162
Investments in related parties
Investment funds			610						610						610						—						—						—
Funds withheld at interest			11,233						11,233						—						—						—						11,233
Total financial assets not carried at fair value			$	51,798					$	51,798					$	689					$	—					$	1,961					$	49,148
Financial liabilities
Interest sensitive contract liabilities			$	125,101					$	111,608					$	—					$	—					$	—					$	111,608
Debt			3,658						2,893						—						—						2,893						—
Securities to repurchase			4,743						4,743						—						—						4,743						—
Funds withheld liability			360						360						—						—						360						—
Total financial liabilities not carried at fair value			$	133,862					$	119,604					$	—					$	—					$	7,996					$	111,608

X

- Definition

Level 3 Purchases Sales Issuances Settlements [Table Text Block]

+ References

No definition available.

+ Details

Name:	ahl_Level3PurchasesSalesIssuancesSettlementsTableTextBlock
Namespace Prefix:	ahl_
Data Type:	dtr-types1: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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 information about asset and liability measured at fair value under fair value option.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-30

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-31

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-32

+ Details

Name:	us-gaap_FairValueOptionQuantitativeDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration