XML 88 R62.htm IDEA: XBRL DOCUMENT v3.22.4
Fair Value of Financial Instruments - Changes to Fair Value of Financial Instruments Level 3 (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period $ 5,576 $ 3,248
Assets, Total Gains (Losses) Included in Earnings (17) 13
Assets, Total Gains (Losses) Included in AOCI (602) (48)
Assets, Purchases 4,315 4,438
Assets, Sales (61) (106)
Assets, Settlements (760) (1,449)
Assets, Net transfer In (Out) of Level 3 (306) (520)
Balance at End of Period 8,145 5,576
Change in Unrealized Included in OCI (632) 59
Liabilities:    
Balance at Beginning of Period 3,883 3,409
Liabilities, Total Gains (Losses) Included in Earnings (1,382) 121
Liabilities, Total Gains (Losses) Included in AOCI 0 0
Liabilities, Purchases 768 513
Liabilities, Sales 0 (4)
Liabilities, Settlements (154) (156)
Liabilities, Net transfer In (Out) of Level 3 0 0
Balance at End of Period $ 3,115 3,883
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Recognized gains and (losses), net  
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] Other comprehensive earnings - unrealized gain on investments and other financial instruments  
Change in Unrealized Included in OCI $ 0 0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Recognized gains and (losses), net  
Future policy benefits    
Liabilities:    
Balance at Beginning of Period $ 0 5
Liabilities, Total Gains (Losses) Included in Earnings   0
Liabilities, Total Gains (Losses) Included in AOCI   0
Liabilities, Purchases   0
Liabilities, Sales   (4)
Liabilities, Settlements   (1)
Liabilities, Net transfer In (Out) of Level 3   0
Balance at End of Period   0
Change in Unrealized Included in OCI   0
FIA/ IUL embedded derivatives    
Liabilities:    
Balance at Beginning of Period 3,883 3,404
Liabilities, Total Gains (Losses) Included in Earnings (1,382) 121
Liabilities, Total Gains (Losses) Included in AOCI 0 0
Liabilities, Purchases 768 513
Liabilities, Sales 0 0
Liabilities, Settlements (154) (155)
Liabilities, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 3,115 3,883
Change in Unrealized Included in OCI 0 0
Asset-backed securities    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 3,959 1,350
Assets, Total Gains (Losses) Included in Earnings (6) (1)
Assets, Total Gains (Losses) Included in AOCI (393) (8)
Assets, Purchases 3,269 3,417
Assets, Sales (39) (97)
Assets, Settlements (541) (595)
Assets, Net transfer In (Out) of Level 3 14 (107)
Balance at End of Period 6,263 3,959
Change in Unrealized Included in OCI (426) 4
Commercial mortgage-backed securities    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 35 26
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI (5) (3)
Assets, Purchases 0 12
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 7 0
Balance at End of Period 37 35
Change in Unrealized Included in OCI (4) 1
Corporates    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 1,121 1,274
Assets, Total Gains (Losses) Included in Earnings 1 8
Assets, Total Gains (Losses) Included in AOCI (187) (40)
Assets, Purchases 710 154
Assets, Sales (20) (9)
Assets, Settlements (215) (247)
Assets, Net transfer In (Out) of Level 3 17 (19)
Balance at End of Period 1,427 1,121
Change in Unrealized Included in OCI (188) 23
Hybrids    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 0 4
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI 0 0
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Settlements 0 (4)
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 0 0
Change in Unrealized Included in OCI 0 0
Municipals    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 43 43
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI (14) 0
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 29 43
Change in Unrealized Included in OCI (13) 7
Residential mortgage-backed securities    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 0 483
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI 0 (1)
Assets, Purchases 316 14
Assets, Sales 0 0
Assets, Settlements 0 (102)
Assets, Net transfer In (Out) of Level 3 (14) (394)
Balance at End of Period 302 0
Change in Unrealized Included in OCI 0 22
Foreign Governments    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 18 17
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI (2) 1
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 16 18
Change in Unrealized Included in OCI (1) 2
Short-term    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 321 0
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI (1) 2
Assets, Purchases 20 820
Assets, Sales 0 0
Assets, Settlements 0 (501)
Assets, Net transfer In (Out) of Level 3 (340) 0
Balance at End of Period 0 321
Change in Unrealized Included in OCI (1) 0
Preferred securities    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 1 1
Assets, Total Gains (Losses) Included in Earnings 0 (1)
Assets, Total Gains (Losses) Included in AOCI (1) 1
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 0 1
Change in Unrealized Included in OCI (1) 0
Equity securities    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 0  
Assets, Total Gains (Losses) Included in Earnings 0  
Assets, Total Gains (Losses) Included in AOCI 0  
Assets, Purchases 0  
Assets, Sales 0  
Assets, Settlements 0  
Assets, Net transfer In (Out) of Level 3 0  
Balance at End of Period 0 0
Change in Unrealized Included in OCI 0  
Available-for-sale embedded derivative    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 34 27
Assets, Total Gains (Losses) Included in Earnings (11) 7
Assets, Total Gains (Losses) Included in AOCI 0 0
Assets, Purchases 0 0
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 23 34
Change in Unrealized Included in OCI 0 0
Investment in affiliate    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 21 0
Assets, Total Gains (Losses) Included in Earnings 0 0
Assets, Total Gains (Losses) Included in AOCI 2 0
Assets, Purchases 0 21
Assets, Sales 0 0
Assets, Settlements 0 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 23 21
Change in Unrealized Included in OCI 2 0
Credit linked note    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 23 23
Assets, Total Gains (Losses) Included in Earnings (1) 0
Assets, Total Gains (Losses) Included in AOCI (1) 0
Assets, Purchases 0 0
Assets, Sales (2) 0
Assets, Settlements (4) 0
Assets, Net transfer In (Out) of Level 3 0 0
Balance at End of Period 15 23
Change in Unrealized Included in OCI 0 0
Secured borrowing receivable    
Fixed maturity securities available-for-sale:    
Balance at Beginning of Period 0  
Assets, Total Gains (Losses) Included in Earnings 0  
Assets, Total Gains (Losses) Included in AOCI 0  
Assets, Purchases 0  
Assets, Sales 0  
Assets, Settlements 0  
Assets, Net transfer In (Out) of Level 3 10  
Balance at End of Period 10 $ 0
Change in Unrealized Included in OCI $ 0