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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2020
Dec. 31, 2019
Available-for-sale securities    
Available-for-sale securities $ 71,215 $ 67,479
AFS securities allowance for credit losses 173 0
Equity securities 237 247
Mortgage loans allowance for credit losses 352 11
Mortgage loans 15,203 14,306
Investment funds 682 750
Funds withheld at interest 42,269 15,181
Other Investments allowance for credit losses 6 0
Short-term investments 364 596
Other investments 359 158
Cash and cash equivalents 6,240 4,240
Accrued investment income 836 807
Reinsurance recoverable 5,310 4,863
Other assets 1,067 1,005
Trading securities, at fair value (consolidated variable interest entities: 2020 – $0 and 2019 – $16) 2,075 2,070
Deferred acquisition costs, deferred sales inducements and value of business acquired 5,468 5,008
Interest sensitive contract liabilities 135,537 102,745
Future policy benefits 24,596 23,330
Other policy claims and benefits 124 138
Funds withheld liability 427 408
Other liabilities 1,486 1,181
Accumulated other comprehensive income 2,184 2,281
Related Party    
Available-for-sale securities    
Available-for-sale securities 4,173 3,783
AFS securities allowance for credit losses 2 0
Equity securities 52 64
Mortgage loans allowance for credit losses 27 0
Mortgage loans 626 653
Investment funds 5,278 3,550
Funds withheld at interest 12,971 13,220
Other Investments allowance for credit losses 14 0
Other investments 474 487
Accrued investment income 53 27
Other assets 0 0
Trading securities, at fair value (consolidated variable interest entities: 2020 – $0 and 2019 – $16) 872 785
Interest sensitive contract liabilities 14,609 15,285
Future policy benefits 1,446 1,302
Other policy claims and benefits 0 13
Funds withheld liability 0 0
Other liabilities 70 79
Accumulated other comprehensive income (106) 17
Variable Interest Entities    
Available-for-sale securities    
Investment funds 0 19
Cash and cash equivalents 0 3
Other assets 6 20
Trading securities, at fair value (consolidated variable interest entities: 2020 – $0 and 2019 – $16) 0 16
Other liabilities 28 0
Variable Interest Entities | Related Party    
Available-for-sale securities    
Equity securities 0 6
Investment funds 0 664
Fair Value    
Available-for-sale securities    
Mortgage loans 15,636 14,719
Funds withheld at interest 41,506 14,380
Other investments 256 65
Interest sensitive contract liabilities 90,369 58,027
Funds withheld liability 381 377
Fair Value | Related Party    
Available-for-sale securities    
Mortgage loans 617 641
Funds withheld at interest 12,411 12,626
Other investments $ 476 $ 537
Preference Share, Series A    
Available-for-sale securities    
Preferred Stock, Par or Stated Value Per Share $ 1 $ 1
Preferred Stock, Liquidation Preference, Value $ 863 $ 863
Preferred Stock, Shares Authorized 34,500 34,500
Preferred Stock, Shares Issued 34,500 0
Preferred Stock, Shares Outstanding 34,500 0
Preference Share, Series B    
Available-for-sale securities    
Preferred Stock, Par or Stated Value Per Share $ 1 $ 1
Preferred Stock, Liquidation Preference, Value $ 345 $ 345
Preferred Stock, Shares Authorized 13,800 13,800
Preferred Stock, Shares Issued 13,800 0
Preferred Stock, Shares Outstanding 13,800 0
Preference Share, Series C    
Available-for-sale securities    
Preferred Stock, Par or Stated Value Per Share $ 1 $ 0
Preferred Stock, Liquidation Preference, Value $ 600 $ 0
Preferred Stock, Shares Authorized 24,000 0
Preferred Stock, Shares Issued 24,000 0
Preferred Stock, Shares Outstanding 24,000 0
Common Class A    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 425,000,000 425,000,000
Common stock issued (in shares) 194,300,000 143,200,000
Common stock outstanding (in shares) 194,300,000 143,200,000
Common Class B    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 0 325,000,000
Common stock issued (in shares) 0 25,400,000
Common stock outstanding (in shares) 0 25,400,000
Common Class M-1    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 0 7,100,000
Common stock issued (in shares) 0 3,300,000
Common stock outstanding (in shares) 0 3,300,000
Common Class M-2    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 0 5,000,000
Common stock issued (in shares) 0 800,000
Common stock outstanding (in shares) 0 800,000
Common Class M-3    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 0 7,500,000
Common stock issued (in shares) 0 1,000,000
Common stock outstanding (in shares) 0 1,000,000.0
Common Class M-4    
Available-for-sale securities    
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock authorized (in shares) 0 7,500,000
Common stock issued (in shares) 0 4,000,000
Common stock outstanding (in shares) 0 4,000,000.0
Recurring | Fair Value    
Available-for-sale securities    
Equity securities $ 237 $ 247
Mortgage loans 25 27
Investment funds 146 154
Funds withheld at interest 763 801
Short-term investments 364 406
Other investments 109 93
Reinsurance recoverable 2,099 1,821
Trading securities, at fair value (consolidated variable interest entities: 2020 – $0 and 2019 – $16) 2,075 2,070
Interest sensitive contract liabilities 12,463 11,992
Future policy benefits 2,334 2,301
Funds withheld liability 46 31
Recurring | Fair Value | Related Party    
Available-for-sale securities    
Equity securities 52 64
Investment funds 1,885 819
Funds withheld at interest 560 594
Trading securities, at fair value (consolidated variable interest entities: 2020 – $0 and 2019 – $16) $ 872 $ 785