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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2018
Dec. 31, 2017
Fixed maturity securities, at fair value    
Mortgage loans, net of allowances (portion at fair value: 2018 – $41 and 2017 – $41) $ 6,139 $ 6,233
Investment funds 2,728 2,580
Deferred acquisition costs, deferred sales inducements and value of business acquired 3,142 2,930
Total assets 93,557 99,747
Liabilities    
Total liabilities 84,862 90,539
Equity    
Additional paid-in capital 3,485 3,472
Retained earnings 4,625 4,321
Accumulated other comprehensive income (related party: 2018 – $4 and 2017 – $48) 585 1,415
Total equity 8,695 9,208
Total liabilities and equity 93,557 99,747
Related Party    
Equity    
Accumulated other comprehensive income (related party: 2018 – $4 and 2017 – $48) 4 48
Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party    
Fixed maturity securities, at fair value    
Available-for-sale securities 58,575 61,012
Trading securities 2,088 2,196
Equity securities 160 790
Mortgage loans, net of allowances (portion at fair value: 2018 – $41 and 2017 – $41) 6,139 6,233
Investment funds 647 699
Policy loans 510 530
Funds withheld at interest (portion at fair value: 2018 – $207 and 2017 – $312) 7,093 7,085
Derivative assets 2,031 2,551
Real estate (portion held for sale: 2018 – $0 and 2017 – $32) 0 624
Short-term investments, at fair value 235 201
Other investments 113 133
Total investments 77,591 82,054
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Fixed maturity securities, at fair value    
Available-for-sale securities 59,080  
Cash and cash equivalents 2,735 4,888
Restricted cash 87 105
Accrued investment income (related party: 2018 – $12 and 2017 – $10) 620 652
Reinsurance recoverable (portion at fair value: 2018 – $1,713 and 2017 – $1,824) 4,834 4,972
Deferred acquisition costs, deferred sales inducements and value of business acquired 3,142 2,930
Other assets 1,067 969
Liabilities    
Interest sensitive contract liabilities (portion at fair value: 2018 – $8,188 and 2017 – $8,929) 67,551 67,708
Future policy benefits (portion at fair value: 2018 – $2,305 and 2017 – $2,428) 13,059 17,507
Other policy claims and benefits 137 211
Dividends payable to policyholders 119 1,025
Long-term debt 992 0
Derivative liabilities 186 134
Payables for collateral on derivatives 1,145 2,323
Funds withheld liability (portion at fair value: 2018 – $11 and 2017 – $22) 395 407
Other liabilities 1,277 1,222
Consolidated Entity Excluding Variable Interest Entities (VIE) | Related Party    
Fixed maturity securities, at fair value    
Available-for-sale securities 505 406
Trading securities 305 307
Investment funds 1,499 1,310
Short-term investments, at fair value 123 52
Other investments 238 238
Accrued investment income (related party: 2018 – $12 and 2017 – $10) 12 10
Liabilities    
Other liabilities 89 64
Variable Interest Entities    
Fixed maturity securities, at fair value    
Investment funds 582 571
Cash and cash equivalents 3 4
Other assets 2 1
Liabilities    
Other liabilities 1 2
Variable Interest Entities | Related Party    
Fixed maturity securities, at fair value    
Trading securities 47 48
Equity securities 177 240
Investment funds 582 571
Common Class A    
Equity    
Common stock 0 0
Common Class B    
Equity    
Common stock 0 0
Common Class M-1    
Equity    
Common stock 0 0
Common Class M-2    
Equity    
Common stock 0 0
Common Class M-3    
Equity    
Common stock 0 0
Common Class M-4    
Equity    
Common stock $ 0 $ 0