STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2020

STATUTORY REPORTING PRACTICES AND OTHER REGULATORY MATTERS

Schedule of favorable (unfavorable) effects of the Company's statutory surplus, compared to NAIC statutory surplus

The favorable (unfavorable) effects of the Company and its statutory surplus, compared to NAIC statutory surplus, from the use of this prescribed practice was as follows:

	As of December 31,
	2020		2019
	(Dollars In Millions)
Non-admission of goodwill	$	(105)	$	(143)
Total (net)	$	(105)	$	(143)

Schedule of favorable (unfavorable) effects on the statutory surplus of the Company's insurance subsidiaries, compared to NAIC statutory surplus

The favorable (unfavorable) effects on the statutory surplus of the Company and its insurance subsidiaries, compared to NAIC statutory surplus, from the use of these permitted practices were as follows:

	As of December 31,
	2020		2019
	(Dollars In Millions)
Accounting for Letters of Credit as admitted assets	$	—	$	1,555
Accounting for XOL Asset Value as an admitted asset	4,579		—
Accounting for certain notes as admitted assets	—		2,748
Reserving based on state specific actuarial practices	94		116
Reserving difference related to a captive insurance company	(218)		(71)
Total (net)	$	4,455	$	4,348