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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2018
Dec. 31, 2017
Fixed maturity securities, at fair value    
Mortgage loans, net of allowances (portion at fair value: 2018 – $37 and 2017 – $41) $ 9,371 $ 6,233
Investment funds 3,390 2,580
Restricted cash 218 105
Deferred acquisition costs, deferred sales inducements and value of business acquired 4,972 2,930
Total assets 118,204 99,747
Liabilities    
Total liabilities 109,135 90,539
Equity    
Additional paid-in capital 3,499 3,472
Retained earnings 5,527 4,321
Accumulated other comprehensive income (related party: 2018 – $(7) and 2017 – $48) 43 1,415
Total equity 9,069 9,208
Total liabilities and equity 118,204 99,747
Related Party    
Equity    
Accumulated other comprehensive income (related party: 2018 – $(7) and 2017 – $48) (7) 48
Consolidated Entity Excluding Variable Interest Entities (VIE) and Related Party    
Fixed maturity securities, at fair value    
Available-for-sale securities 59,882 61,012
Trading securities 1,977 2,196
Equity securities 292 790
Mortgage loans, net of allowances (portion at fair value: 2018 – $37 and 2017 – $41) 8,982 6,233
Investment funds 692 699
Policy loans 512 530
Funds withheld at interest (portion at fair value: 2018 – $151 and 2017 – $312) 7,841 7,085
Derivative assets 2,515 2,551
Real estate (portion held for sale: 2017 – $32) 0 624
Short-term investments, at fair value 234 201
Other investments 114 133
Total investments 83,041 82,054
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Fixed maturity securities, at fair value    
Available-for-sale securities 61,125  
Cash and cash equivalents 3,723 4,888
Accrued investment income (related party: 2018 – $23 and 2017 – $10) 686 652
Reinsurance recoverable (related party: 2018 – $8; portion at fair value: 2018 – $1,679 and 2017 – $1,824) 5,201 4,972
Deferred acquisition costs, deferred sales inducements and value of business acquired 4,972 2,930
Other assets 1,187 969
Liabilities    
Interest sensitive contract liabilities (related party: 2018 – $17,367; portion at fair value: 2018 – $9,557 and 2017 – $8,929) 88,903 67,708
Future policy benefits (related party: 2018 – $965; portion at fair value: 2018 – $2,233 and 2017 – $2,428) 14,771 17,507
Other policy claims and benefits 140 211
Dividends payable to policyholders 120 1,025
Long-term debt 991 0
Derivative liabilities 124 134
Payables for collateral on derivatives 2,315 2,323
Funds withheld liability (portion at fair value: 2018 – $3 and 2017 – $22) 389 407
Other liabilities 1,380 1,222
Consolidated Entity Excluding Variable Interest Entities (VIE) | Related Party    
Fixed maturity securities, at fair value    
Available-for-sale securities 1,243 406
Trading securities 259 307
Mortgage loans, net of allowances (portion at fair value: 2018 – $37 and 2017 – $41) 389 0
Investment funds 2,093 1,310
Funds withheld at interest (portion at fair value: 2018 – $151 and 2017 – $312) 13,963 0
Short-term investments, at fair value 10 52
Other investments 386 238
Accrued investment income (related party: 2018 – $23 and 2017 – $10) 23 10
Reinsurance recoverable (related party: 2018 – $8; portion at fair value: 2018 – $1,679 and 2017 – $1,824) 8 0
Liabilities    
Interest sensitive contract liabilities (related party: 2018 – $17,367; portion at fair value: 2018 – $9,557 and 2017 – $8,929) 17,367 0
Future policy benefits (related party: 2018 – $965; portion at fair value: 2018 – $2,233 and 2017 – $2,428) 965 0
Other policy claims and benefits 3 0
Other liabilities 99 64
Variable Interest Entities    
Fixed maturity securities, at fair value    
Investment funds 605 571
Cash and cash equivalents 2 4
Other assets 2 1
Liabilities    
Other liabilities 2 2
Variable Interest Entities | Related Party    
Fixed maturity securities, at fair value    
Trading securities 48 48
Equity securities 176 240
Investment funds 564 571
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