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OFFSETTING OF ASSETS AND LIABILITIES - Schedule of Derivative Instruments by Assets (Details) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Offsetting of Assets    
Gross Amounts of Recognized Assets, Derivatives Not Subject to a master netting arrangement $ 1,624 $ 1,636
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 1,624 1,636
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement 950 865
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 316 290
Net Amount 358 481
Free-Standing derivatives    
Offsetting of Assets    
Gross Amounts of Recognized Assets, subject to master netting arrangement 1,335 1,337
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 1,335 1,337
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to master netting arrangement 950 865
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 316 290
Net Amount 69 182
Total derivatives, subject to a master netting arrangement or similar arrangement    
Offsetting of Assets    
Gross Amounts of Recognized Assets, subject to master netting arrangement 1,335 1,337
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 1,335 1,337
Gross Amounts Not Offset in the Statement of Financial Position, Financial Instruments, not subject to master netting arrangement 950 865
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 316 290
Net Amount 69 182
Embedded derivative - Modco reinsurance treaties    
Offsetting of Assets    
Gross Amounts of Recognized Assets, Derivatives Not Subject to a master netting arrangement 68 101
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 68 101
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement 0 0
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 0 0
Net Amount 68 101
Embedded derivative - GLWB    
Offsetting of Assets    
Gross Amounts of Recognized Assets, Derivatives Not Subject to a master netting arrangement 161 138
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 161 138
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement 0 0
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 0 0
Net Amount 161 138
Embedded derivative - FIA    
Offsetting of Assets    
Gross Amounts of Recognized Assets, Derivatives Not Subject to a master netting arrangement 60 60
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 60 60
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement 0 0
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 0 0
Net Amount 60 60
Total derivatives, not subject to a master netting arrangement or similar arrangement    
Offsetting of Assets    
Gross Amounts of Recognized Assets, Derivatives Not Subject to a master netting arrangement 289 299
Gross Amounts Offset in the Balance Sheets 0 0
Net Amounts of Assets Presented in the Balance Sheets 289 299
Gross Amounts Not Offset in the statement of Financial Position, Financial Instruments, subject to master netting arrangement 0 0
Gross Amounts Not Offset in the Statement of Financial Position, Cash collateral received 0 0
Net Amount $ 289 $ 299