XML 77 R64.htm IDEA: XBRL DOCUMENT v3.19.1
FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details)
$ in Millions
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 87,924 $ 82,895
Equity securities 1,041 987
Asset derivatives 401 417
Liability derivatives 365 387
Assets, fair value 93,801 88,788
Liabilities, fair value 365 387
Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 570 522
Equity securities 46 46
Asset derivatives 178 182
Assets, fair value 794 750
Liabilities, fair value 108 102
Net asset value valuation technique    
Fair Value Measurement Inputs and Valuation Techniques    
Equity securities 46 46
Net asset value valuation technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Equity securities 46 46
Foreign currency swaps    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 274 285
Liability derivatives 206 234
Foreign currency swaps | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 178 182
Liability derivatives 108 102
Foreign currency swaps | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 117 125
Liability derivatives 102 98
Foreign currency swaps | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 61 57
Liability derivatives $ 6 $ 4
Foreign currency swaps | Credit Spread | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Lower Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input 0.0013 0.0019
Derivative liability, measurement input 0.0030 0.0028
Foreign currency swaps | Credit Spread | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Upper Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input 0.0109 0.0120
Derivative liability, measurement input 0.0187 0.0211
Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 36,076 $ 33,995
Equity securities $ 379 $ 346
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Lower Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [1] 0.0248 0.0275
Derivative liability, measurement input [1] 0.0248 0.0275
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Upper Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [1] 0.0266 0.0284
Derivative liability, measurement input [1] 0.0266 0.0284
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Lower Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [1] 0.0248 0.0275
Derivative liability, measurement input [1] 0.0248 0.0275
Dollar-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Upper Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [1] 0.0266 0.0284
Derivative liability, measurement input [1] 0.0266 0.0284
Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 51,848 $ 48,900
Equity securities $ 662 $ 641
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Lower Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [2] 0.0013 0.0018
Derivative liability, measurement input [2] 0.0013 0.0018
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD), Interest Rates (JPY) and CDS Spreads | Upper Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [2] 0.0057 0.0071
Derivative liability, measurement input [2] 0.0057 0.0071
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Lower Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [2] 0.0013 0.0018
Derivative liability, measurement input [2] 0.0013 0.0018
Yen-denominated | Foreign currency swaps | Discount Rate | Fair Value, Unobservable Input, Interest Rates (USD) and Interest Rates (JPY) | Upper Limit | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Derivative asset, measurement input [2] 0.0057 0.0071
Derivative liability, measurement input [2] 0.0057 0.0071
Mortgage- and asset-backed securities    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 414 $ 339
Mortgage- and asset-backed securities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 178 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 178 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 178 177
Mortgage- and asset-backed securities | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 154 162
Mortgage- and asset-backed securities | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 260 177
Banks/financial institutions    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 9,391 8,918
Banks/financial institutions | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 23 23
Banks/financial institutions | Consensus pricing valuation technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 68 23
Banks/financial institutions | Consensus pricing valuation technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 23 23
Banks/financial institutions | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 3,269 3,214
Banks/financial institutions | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 6,122 5,704
Public utilities    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 6,497 7,171
Public utilities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 85 109
Public utilities | Discounted cash flow technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 85 109
Public utilities | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 85 109
Public utilities | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 4,331 5,163
Public utilities | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 2,166 2,008
Other corporate    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 32,311 29,002
Other corporate | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 284 213
Other corporate | Discounted cash flow technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 347 213
Other corporate | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 284 213
Other corporate | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 26,464 23,545
Other corporate | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 5,847 $ 5,457
[1] Inputs derived from U.S. long-term rates to accommodate long maturity nature of the Company's swaps
[2] Inputs derived from Japan long-term rates to accommodate long maturity nature of the Company's swaps