XML 61 R46.htm IDEA: XBRL DOCUMENT v3.22.2
Derivative Instruments - Summary of Notional and Fair Value of Derivative Assets and Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Derivative [Line Items]          
Derivative assets, fair value $ 2,932   $ 2,932   $ 4,387
Derivative liabilities, fair value 1,223   1,223   472
Total derivative assets (2,155)   (2,155)   (5,747)
Total derivative liabilities 6,674   6,674   15,424
Derivatives designated as hedges          
Derivative [Line Items]          
Derivative assets, fair value 1,140   1,140   470
Derivative liabilities, fair value $ 796   $ 796   $ 236
Derivatives designated as hedges | Foreign currency swaps          
Derivative [Line Items]          
Notional Amount 6,617   6,617   6,371
Derivative assets, fair value $ 678   $ 678   $ 281
Derivative liabilities, fair value $ 109   $ 109   $ 56
Derivatives designated as hedges | Interest rate swaps          
Derivative [Line Items]          
Notional Amount 6,770   6,770   500
Derivative assets, fair value $ 28   $ 28   $ 0
Derivative liabilities, fair value $ 8   $ 8   $ 1
Derivatives designated as hedges | Foreign currency forwards          
Derivative [Line Items]          
Notional Amount 5,009   5,009   6,395
Derivative assets, fair value $ 427   $ 427   $ 189
Derivative liabilities, fair value $ 3   $ 3   $ 2
Derivatives designated as hedges | Cross Currency Interest Rate Contract          
Derivative [Line Items]          
Notional Amount 4,468   4,468   2,783
Derivative assets, fair value $ 0   $ 0   $ 0
Derivative liabilities, fair value 676   676   173
Derivatives not designated as hedges          
Derivative [Line Items]          
Total derivative assets 3,295   3,295   (5,277)
Total derivative liabilities $ 5,878   $ 5,878   $ 15,188
Derivatives not designated as hedges | Foreign currency swaps          
Derivative [Line Items]          
Notional Amount 2,928   2,928   2,592
Derivative assets, fair value $ 149   $ 149   $ 57
Derivative liabilities, fair value $ 90   $ 90   $ 19
Derivatives not designated as hedges | Interest rate swaps          
Derivative [Line Items]          
Notional Amount 461   461   483
Derivative assets, fair value $ 69   $ 69   $ 78
Derivative liabilities, fair value $ 1   $ 1   $ 1
Derivatives not designated as hedges | Equity options          
Derivative [Line Items]          
Notional Amount 60,234   60,234   57,890
Derivative assets, fair value $ 1,076   $ 1,076   $ 3,629
Derivative liabilities, fair value $ 105   $ 105   $ 115
Derivatives not designated as hedges | Futures          
Derivative [Line Items]          
Notional Amount 21   21   33
Derivative assets, fair value $ 20   $ 20   $ 67
Derivative liabilities, fair value $ 1   $ 1   $ 0
Derivatives not designated as hedges | Total return swaps          
Derivative [Line Items]          
Notional Amount 137   137   231
Derivative assets, fair value $ 0   $ 0   $ 10
Derivative liabilities, fair value $ 14   $ 14   $ 0
Derivatives not designated as hedges | Credit default swaps          
Derivative [Line Items]          
Notional Amount 10   10   10
Derivative assets, fair value $ 0   $ 0   $ 0
Derivative liabilities, fair value $ 1   $ 1   $ 3
Derivatives not designated as hedges | Foreign currency forwards          
Derivative [Line Items]          
Notional Amount 11,623   11,623   7,382
Derivative assets, fair value $ 478   $ 478   $ 76
Derivative liabilities, fair value 215   215   98
Derivatives not designated as hedges | Embedded derivatives | Funds withheld          
Derivative [Line Items]          
Funds withheld at interest (5,087)   (5,087)    
Funds withheld liability (portion at fair value: 2022 – $0 and 2021 – $45) 0   0    
Embedded derivative assets, fair value         1,360
Embedded derivative liabilities, fair value         45
Derivatives not designated as hedges | Embedded derivatives | Interest sensitive contract liabilities          
Derivative [Line Items]          
Embedded derivative assets, fair value 0   0   0
Embedded derivative liabilities, fair value $ 5,451   $ 5,451   $ 14,907
Net Investment Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards          
Derivative [Line Items]          
Notional Amount 235   235   231
Derivative assets, fair value $ 7   $ 7   $ 0
Derivative liabilities, fair value 0   0   $ 4
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income 65 $ 0 9 $ 0  
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency swaps | Investment related gains (losses)          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0   0    
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments 242   333    
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge (252)   (347)    
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss) (10)   (14)    
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach 0   0    
Fair Value Hedging [Member] | Derivatives designated as hedges | Interest rate swaps | Investment related gains (losses)          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0   0    
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments (5)   (77)    
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge 18   93    
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss) 13   16    
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach 0   0    
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net, Recorded in Other Comprehensive Income 16 4 (57) 4  
Fair Value Hedging [Member] | Derivatives designated as hedges | Foreign currency forwards | Investment related gains (losses)          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0 0 1 0  
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments 201 (13) 328 205  
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge (232) 29 (358) (188)  
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss) (31) 16 (30) 17  
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach 16 0 30 0  
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Investment related gains (losses)          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0 0 0 0  
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments (335) 5 (494) (31)  
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge 298 (9) 495 32  
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss) (37) (4) 1 1  
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach 0 0 0 0  
Fair Value Hedging [Member] | Derivatives designated as hedges | Cross Currency Interest Rate Contract | Interest sensitive contract benefits          
Derivative [Line Items]          
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net 0 0 0 0  
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments 15 5 25 6  
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge (14) (4) (23) (5)  
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss) 1 1 2 1  
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Amortization Approach $ 0 $ 0 $ 0 $ 0