XML 92 R41.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements - Assets and liabilities measured and carried at fair value in the financial statements (Details) - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Assets:    
Available for sale (AFS) fixed maturities $ 46,134 $ 46,505
Trading fixed maturities 96 113
Equity securities 1,559 1,937
Equity index call options 209 924
Assets of managed investment entities (“MIE”) 4,026 4,736
Variable annuity assets (separate accounts) [1] 497 628
Total assets accounted for at fair value 52,646 54,893
Liabilities:    
Liabilities of managed investment entities 3,865 4,571
Total liabilities accounted for at fair value 6,974 8,311
Annuity benefits accumulated    
Liabilities:    
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities 3,099 3,730
Other liabilities — derivatives    
Liabilities:    
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities 10 10
Fixed maturities    
Assets:    
Available for sale (AFS) fixed maturities 46,134 46,505
Trading fixed maturities 96 113
U.S. Government and government agencies    
Assets:    
Available for sale (AFS) fixed maturities 205 209
States, municipalities and political subdivisions    
Assets:    
Available for sale (AFS) fixed maturities 6,906 6,963
Foreign government    
Assets:    
Available for sale (AFS) fixed maturities 170 172
Residential MBS    
Assets:    
Available for sale (AFS) fixed maturities 3,131 3,160
Commercial MBS    
Assets:    
Available for sale (AFS) fixed maturities 907 927
Collateralized loan obligations    
Assets:    
Available for sale (AFS) fixed maturities 4,138 4,280
Other asset-backed securities    
Assets:    
Available for sale (AFS) fixed maturities 6,758 7,128
Corporate and other    
Assets:    
Available for sale (AFS) fixed maturities 23,919 23,666
Equity securities    
Assets:    
Equity securities 1,559 1,937
Other assets    
Assets:    
Equity index call options 125 50
Level 1    
Assets:    
Assets of managed investment entities (“MIE”) 169 213
Variable annuity assets (separate accounts) [1] 0 0
Total assets accounted for at fair value 1,409 1,828
Liabilities:    
Liabilities of managed investment entities 162 206
Total liabilities accounted for at fair value 162 206
Level 1 | 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 183 180
Trading fixed maturities 1 2
Level 1 | U.S. Government and government agencies    
Assets:    
Available for sale (AFS) fixed maturities 158 151
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 | Collateralized loan obligations    
Assets:    
Available for sale (AFS) fixed maturities 0 0
Level 1 | Other asset-backed securities    
Assets:    
Available for sale (AFS) fixed maturities 0 0
Level 1 | Corporate and other    
Assets:    
Available for sale (AFS) fixed maturities 25 29
Level 1 | Equity securities    
Assets:    
Equity securities 1,056 1,433
Level 1 | Other assets    
Assets:    
Equity index call options 0 0
Level 2    
Assets:    
Assets of managed investment entities (“MIE”) 3,841 4,506
Variable annuity assets (separate accounts) [1] 497 628
Total assets accounted for at fair value 47,724 49,224
Liabilities:    
Liabilities of managed investment entities 3,688 4,349
Total liabilities accounted for at fair value 3,698 4,359
Level 2 | 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 10 10
Level 2 | Fixed maturities    
Assets:    
Available for sale (AFS) fixed maturities 42,890 42,938
Trading fixed maturities 95 111
Level 2 | U.S. Government and government agencies    
Assets:    
Available for sale (AFS) fixed maturities 32 43
Level 2 | States, municipalities and political subdivisions    
Assets:    
Available for sale (AFS) fixed maturities 6,801 6,858
Level 2 | Foreign government    
Assets:    
Available for sale (AFS) fixed maturities 170 172
Level 2 | Residential MBS    
Assets:    
Available for sale (AFS) fixed maturities 2,968 2,987
Level 2 | Commercial MBS    
Assets:    
Available for sale (AFS) fixed maturities 875 892
Level 2 | Collateralized loan obligations    
Assets:    
Available for sale (AFS) fixed maturities 3,970 4,265
Level 2 | Other asset-backed securities    
Assets:    
Available for sale (AFS) fixed maturities 5,728 5,842
Level 2 | Corporate and other    
Assets:    
Available for sale (AFS) fixed maturities 22,346 21,879
Level 2 | Equity securities    
Assets:    
Equity securities 67 67
Level 2 | Other assets    
Assets:    
Equity index call options 125 50
Level 3    
Assets:    
Assets of managed investment entities (“MIE”) 16 17
Variable annuity assets (separate accounts) [1] 0 0
Total assets accounted for at fair value 3,513 3,841
Liabilities:    
Liabilities of managed investment entities 15 16
Total liabilities accounted for at fair value 3,114 3,746
Level 3 | Annuity benefits accumulated    
Liabilities:    
Derivatives included in annuity benefits accumulated, long-term debt, and other liabilities 3,099 3,730
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 3,061 3,387
Trading fixed maturities 0 0
Level 3 | U.S. Government and government agencies    
Assets:    
Available for sale (AFS) fixed maturities 15 15
Level 3 | States, municipalities and political subdivisions    
Assets:    
Available for sale (AFS) fixed maturities 105 105
Level 3 | Foreign government    
Assets:    
Available for sale (AFS) fixed maturities 0 0
Level 3 | Residential MBS    
Assets:    
Available for sale (AFS) fixed maturities 163 173
Level 3 | Commercial MBS    
Assets:    
Available for sale (AFS) fixed maturities 32 35
Level 3 | Collateralized loan obligations    
Assets:    
Available for sale (AFS) fixed maturities 168 15
Level 3 | Other asset-backed securities    
Assets:    
Available for sale (AFS) fixed maturities 1,030 1,286
Level 3 | Corporate and other    
Assets:    
Available for sale (AFS) fixed maturities 1,548 1,758
Level 3 | Equity securities    
Assets:    
Equity securities 436 437
Level 3 | Other assets    
Assets:    
Equity index call options 0 0
Equity index call options | Equity index call options    
Assets:    
Equity index call options 209 924
Equity index call options | Level 1 | Equity index call options    
Assets:    
Equity index call options 0 0
Equity index call options | Level 2 | Equity index call options    
Assets:    
Equity index call options 209 924
Equity index call options | Level 3 | Equity index call options    
Assets:    
Equity index call options $ 0 $ 0
[1]
Variable annuity liabilities equal the fair value of variable annuity assets.