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OPERATING SEGMENTS - Schedule of Operating Segments (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Summarized financial information for the company's segments      
Revenues $ 1,713 $ 1,441  
Pre-tax Adjusted Operating Income (Loss) 54 60  
Non-operating income (loss) 73 (219)  
Income (loss) before income tax 127 (159)  
Income tax expense (25) 30  
Net income (loss) 102 (129)  
Adjusted operating income tax expense (9) (16)  
After-tax adjusted operating income 45 44  
Income tax (expense) benefit on adjustments (16) 46  
Non-operating income (loss)      
Derivative gains (losses) 181 (25)  
Investment gains (losses) (54) (276)  
VA/VUL market impacts 8 0  
Less: related amortization 87 (59)  
Less: VA GLWB economic cost (25) (23)  
Net investment income 720 754  
Amortization of deferred policy acquisition costs and value of business acquired 105 54  
Operating Segment Assets      
Investments and other assets 120,466   $ 122,124
DAC and VOBA 3,707   3,420
Other intangibles 530   540
Goodwill 826   826
Total assets 125,529   126,910
Retail Life and Annuity      
Summarized financial information for the company's segments      
Revenues 773 532  
Pre-tax Adjusted Operating Income (Loss) (17) (11)  
Non-operating income (loss)      
Net investment income 266 253  
Amortization of deferred policy acquisition costs and value of business acquired 87 (14)  
Operating Segment Assets      
Investments and other assets 41,555   39,874
DAC and VOBA 2,635   2,480
Other intangibles 359   367
Goodwill 559   559
Total assets 45,108   43,280
Acquisitions      
Summarized financial information for the company's segments      
Revenues 789 799  
Pre-tax Adjusted Operating Income (Loss) 77 75  
Non-operating income (loss)      
Net investment income 399 416  
Amortization of deferred policy acquisition costs and value of business acquired 2 52  
Operating Segment Assets      
Investments and other assets 54,851   55,628
DAC and VOBA 892   762
Other intangibles 32   33
Goodwill 24   24
Total assets 55,799   56,447
Stable Value Products      
Summarized financial information for the company's segments      
Revenues 81 37  
Pre-tax Adjusted Operating Income (Loss) 31 25  
Non-operating income (loss)      
Net investment income 63 63  
Amortization of deferred policy acquisition costs and value of business acquired 1 1  
Operating Segment Assets      
Investments and other assets 6,525   5,928
DAC and VOBA 10   8
Other intangibles 6   6
Goodwill 114   114
Total assets 6,655   6,056
Asset Protection      
Summarized financial information for the company's segments      
Revenues 71 74  
Pre-tax Adjusted Operating Income (Loss) 14 12  
Non-operating income (loss)      
Net investment income 6 8  
Amortization of deferred policy acquisition costs and value of business acquired 15 15  
Operating Segment Assets      
Investments and other assets 906   881
DAC and VOBA 170   170
Other intangibles 98   101
Goodwill 129   129
Total assets 1,303   1,281
Corporate and Other      
Summarized financial information for the company's segments      
Revenues (1) (1)  
Pre-tax Adjusted Operating Income (Loss) (51) (41)  
Non-operating income (loss)      
Net investment income (14) 14  
Amortization of deferred policy acquisition costs and value of business acquired 0 $ 0  
Operating Segment Assets      
Investments and other assets 16,629   19,813
DAC and VOBA 0   0
Other intangibles 35   33
Goodwill 0   0
Total assets $ 16,664   $ 19,846