XML 68 R57.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Value of Financial Instruments - Carrying Amounts of Assets and Liabilities at Estimated Fair Value Measured on a Recurring Basis (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Assets      
Fixed maturity securities available for sale $ 38,029 $ 33,095  
Derivative asset 649 244  
Market risk benefits asset 118 117 $ 41
Total financial assets at fair value 8,759 8,286  
Derivatives:      
Market risk benefits liability 313 282 $ 469
Level 1      
Assets      
Cash and cash equivalents 3,136 2,286  
Short term investments 801 2,590  
Derivative asset 0 0  
Market risk benefits asset 0 0  
Total financial assets at fair value 5,437 6,210  
Derivatives:      
Market risk benefits liability 0 0  
Total financial liabilities at fair value 0 0  
Level 2      
Assets      
Cash and cash equivalents 0 0  
Short term investments 45 0  
Derivative asset 649 244  
Market risk benefits asset 0 0  
Total financial assets at fair value 30,694 25,720  
Derivatives:      
Market risk benefits liability 0 0  
Total financial liabilities at fair value 0 0  
Level 3      
Assets      
Cash and cash equivalents 0 0  
Short term investments 126 0  
Derivative asset 0 0  
Market risk benefits asset 118 117  
Total financial assets at fair value 8,759 8,286  
Derivatives:      
Market risk benefits liability 313 282  
Total financial liabilities at fair value 4,134 3,397  
NAV      
Assets      
Total financial assets at fair value 41 47  
Fair Value      
Assets      
Cash and cash equivalents 3,136 2,286  
Short term investments 972 2,590  
Derivative asset 649 244  
Market risk benefits asset 118 117  
Total financial assets at fair value 44,931 40,263  
Derivatives:      
Market risk benefits liability 313 282  
Total financial liabilities at fair value 4,134 3,397  
Reinsurance related embedded derivative, included in other assets | Level 1      
Assets      
Derivative asset 0 0  
Reinsurance related embedded derivative, included in other assets | Level 2      
Assets      
Derivative asset 277 279  
Reinsurance related embedded derivative, included in other assets | Level 3      
Assets      
Derivative asset 0 0  
Reinsurance related embedded derivative, included in other assets | Fair Value      
Assets      
Derivative asset 277 279  
FIA/ IUL embedded derivatives, included in contractholder funds | Level 1      
Derivatives:      
Derivative liability 0 0  
FIA/ IUL embedded derivatives, included in contractholder funds | Level 2      
Derivatives:      
Derivative liability 0 0  
FIA/ IUL embedded derivatives, included in contractholder funds | Level 3      
Derivatives:      
Derivative liability 3,821 3,115  
FIA/ IUL embedded derivatives, included in contractholder funds | Fair Value      
Derivatives:      
Derivative liability 3,821 3,115  
Asset-backed securities      
Assets      
Fixed maturity securities available for sale 12,840 11,467  
Asset-backed securities | Level 1      
Assets      
Fixed maturity securities available for sale 0 0  
Asset-backed securities | Level 2      
Assets      
Fixed maturity securities available for sale 6,330 5,204  
Asset-backed securities | Level 3      
Assets      
Fixed maturity securities available for sale 6,510 6,263  
Asset-backed securities | Fair Value      
Assets      
Fixed maturity securities available for sale 12,840 11,467  
Commercial mortgage-backed securities      
Assets      
Fixed maturity securities available for sale 3,989 3,063  
Commercial mortgage-backed securities | Level 1      
Assets      
Fixed maturity securities available for sale 0 0  
Commercial mortgage-backed securities | Level 2      
Assets      
Fixed maturity securities available for sale 3,972 3,026  
Commercial mortgage-backed securities | Level 3      
Assets      
Fixed maturity securities available for sale 17 37  
Commercial mortgage-backed securities | Fair Value      
Assets      
Fixed maturity securities available for sale 3,989 3,063  
Corporates      
Assets      
Fixed maturity securities available for sale 16,129 14,337  
Corporates | Level 1      
Assets      
Fixed maturity securities available for sale 26 40  
Corporates | Level 2      
Assets      
Fixed maturity securities available for sale 14,475 12,857  
Corporates | Level 3      
Assets      
Fixed maturity securities available for sale 1,628 1,440  
Corporates | Fair Value      
Assets      
Fixed maturity securities available for sale 16,129 14,337  
Hybrids      
Assets      
Fixed maturity securities available for sale 704 731  
Hybrids | Level 1      
Assets      
Fixed maturity securities available for sale 95 93  
Hybrids | Level 2      
Assets      
Fixed maturity securities available for sale 609 638  
Hybrids | Level 3      
Assets      
Fixed maturity securities available for sale 0 0  
Hybrids | Fair Value      
Assets      
Fixed maturity securities available for sale 704 731  
Municipals | Level 1      
Assets      
Fixed maturity securities available for sale 0 0  
Municipals | Level 2      
Assets      
Fixed maturity securities available for sale 1,554 1,431  
Municipals | Level 3      
Assets      
Fixed maturity securities available for sale 49 29  
Municipals | Fair Value      
Assets      
Fixed maturity securities available for sale 1,603 1,460  
Residential mortgage-backed securities      
Assets      
Fixed maturity securities available for sale 2,016 1,527  
Residential mortgage-backed securities | Level 1      
Assets      
Fixed maturity securities available for sale 0 0  
Residential mortgage-backed securities | Level 2      
Assets      
Fixed maturity securities available for sale 1,988 1,225  
Residential mortgage-backed securities | Level 3      
Assets      
Fixed maturity securities available for sale 28 302  
Residential mortgage-backed securities | Fair Value      
Assets      
Fixed maturity securities available for sale 2,016 1,527  
U.S. Government      
Assets      
Fixed maturity securities available for sale 484 271  
U.S. Government | Level 1      
Assets      
Fixed maturity securities available for sale 468 260  
U.S. Government | Level 2      
Assets      
Fixed maturity securities available for sale 16 11  
U.S. Government | Level 3      
Assets      
Fixed maturity securities available for sale 0 0  
U.S. Government | Fair Value      
Assets      
Fixed maturity securities available for sale 484 271  
Foreign Governments      
Assets      
Fixed maturity securities available for sale 264 239  
Foreign Governments | Level 1      
Assets      
Fixed maturity securities available for sale 0 0  
Foreign Governments | Level 2      
Assets      
Fixed maturity securities available for sale 248 223  
Foreign Governments | Level 3      
Assets      
Fixed maturity securities available for sale 16 16  
Foreign Governments | Fair Value      
Assets      
Fixed maturity securities available for sale 264 239  
Preferred securities      
Assets      
Equity and preferred securities 804 903  
Preferred securities | Level 1      
Assets      
Equity and preferred securities 266 320  
Preferred securities | Level 2      
Assets      
Equity and preferred securities 531 582  
Preferred securities | Level 3      
Assets      
Equity and preferred securities 7 1  
Preferred securities | Fair Value      
Assets      
Equity and preferred securities 804 903  
Equity securities | Level 1      
Assets      
Equity and preferred securities 645 621  
Equity securities | Level 2      
Assets      
Equity and preferred securities 0 0  
Equity securities | Level 3      
Assets      
Equity and preferred securities 14 10  
Equity securities | NAV      
Assets      
Equity and preferred securities 41 47  
Equity securities | Fair Value      
Assets      
Equity and preferred securities 700 678  
Investment in unconsolidated affiliates | Level 1      
Assets      
Investment in unconsolidated affiliates 0 0  
Investment in unconsolidated affiliates | Level 2      
Assets      
Investment in unconsolidated affiliates 0 0  
Investment in unconsolidated affiliates | Level 3      
Assets      
Investment in unconsolidated affiliates 197 23  
Investment in unconsolidated affiliates | Fair Value      
Assets      
Investment in unconsolidated affiliates 197 23  
Other long-term investments | Level 1      
Assets      
Other long-term investments 0 0  
Other long-term investments | Level 2      
Assets      
Other long-term investments 0 0  
Other long-term investments | Level 3      
Assets      
Other long-term investments 49 48  
Other long-term investments | Fair Value      
Assets      
Other long-term investments $ 49 $ 48