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Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Amortization of deferred acquisition costs and value of business acquired $ (52) $ 492
Net investments (income) loss (1) (47)
Net recognized (gains) losses on investments and derivatives (related party: 2018 – $0 and 2017 – $10) 1,214 (1,526)
Accrued investment income (29) (76)
Policy acquisition costs deferred (281) (354)
Interest sensitive contract liabilities 611 2,397
Future policy benefits, other policy claims and benefits, dividends payable to policyholders and reinsurance recoverable 39 921
Funds withheld assets and liabilities 375 (1,886)
Sales, maturities and repayments of:    
Available-for-sale securities (related party: 2020 – $209 and 2019 – $73) 6,425 5,567
Trading securities 85 143
Mortgage loans 1,136 994
Investment funds 313 186
Derivative instruments and other invested assets 765 653
Short-term investments 650 163
Purchases of:    
Available-for-sale securities (related party: 2020 – $(611) and 2019 – $(436)) (9,624) (7,813)
Mortgage loans (2,317) (2,558)
Trading securities (152) (382)
Investment funds (831) (500)
Derivative instruments and other invested assets (1,034) (581)
Short-term investments (412) (259)
Deposits on investment-type policies and contracts 8,398 5,972
Repayments of Annuities and Investment Certificates (3,871) (3,275)
Payments for coinsurance agreements on investment-type contracts, net (11) (31)
Deposits on investment-type policies and contracts through reinsurance agreements 28,077 423
Withdrawals on investment-type policies and contracts through reinsurance agreements 1,895 1,873
Variable Interest Entities    
Net investments (income) loss (5) 0
Net recognized (gains) losses on investments and derivatives (related party: 2018 – $0 and 2017 – $10) 7 (8)
Sales, maturities and repayments of:    
Trading securities 10 33
Equity securities (related party: 2020 – $3 and 2019 – $51; consolidated variable interest entities: 2020 – $0 and 2019 – $51) 0 51
Investment funds 20 5
Purchases of:    
Investment funds 0 (21)
Related Party    
Net investments (income) loss (12) (52)
Net recognized (gains) losses on investments and derivatives (related party: 2018 – $0 and 2017 – $10) 75 (15)
Accrued investment income (26) 3
Interest sensitive contract liabilities 102 264
Future policy benefits, other policy claims and benefits, dividends payable to policyholders and reinsurance recoverable 140 162
Funds withheld assets and liabilities (325) (953)
Sales, maturities and repayments of:    
Available-for-sale securities (related party: 2020 – $209 and 2019 – $73) 209 73
Trading securities 31 60
Mortgage loans 0 4
Investment funds 241 116
Short-term investments 28 0
Purchases of:    
Available-for-sale securities (related party: 2020 – $(611) and 2019 – $(436)) (611) (436)
Trading securities (150) (6)
Investment funds (807) (402)
Short-term investments (28) 0
Deposits on investment-type policies and contracts 39 117
Repayments of Annuities and Investment Certificates (210) (225)
Deposits on investment-type policies and contracts through reinsurance agreements 156 108
Withdrawals on investment-type policies and contracts through reinsurance agreements 730 910
Equity securities | Related Party    
Sales, maturities and repayments of:    
Equity securities (related party: 2020 – $3 and 2019 – $51; consolidated variable interest entities: 2020 – $0 and 2019 – $51) 3 51
Purchases of:    
Equity securities (3) (213)
Reinsurance Settlements [Member]    
Purchases of:    
Transfer to Investments $ 53 $ 31