XML 24 R63.htm IDEA: XBRL DOCUMENT v3.19.3
FAIR VALUE MEASUREMENTS - Fair Value Measurement Inputs and Valuation Techniques (Details)
$ in Millions
Sep. 30, 2019
USD ($)
Dec. 31, 2018
USD ($)
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 93,940 $ 82,895
Equity securities 830 987
Asset derivatives 411 417
Liability derivatives 403 387
Assets, fair value 100,119 88,788
Liabilities, fair value 403 387
Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 636 522
Equity securities 79 46
Asset derivatives 147 182
Assets, fair value 862 750
Liabilities, fair value 139 102
Net asset value valuation technique    
Fair Value Measurement Inputs and Valuation Techniques    
Equity securities 79 46
Net asset value valuation technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Equity securities 79 46
Foreign currency swaps    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 227 285
Liability derivatives 227 234
Foreign currency swaps | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Asset derivatives 147 182
Liability derivatives 139 102
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 81 125
Liability derivatives 132 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 66 57
Liability derivatives $ 7 $ 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 0.0012 0.0019
Derivative liability, measurement input 0.0022 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 0.0106 0.0120
Derivative liability, measurement input 0.0176 0.0211
Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 38,890 $ 33,995
Equity securities $ 202 $ 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] 0.0143 0.0275
Derivative liability, measurement input [1] 0.0143 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] 0.0163 0.0284
Derivative liability, measurement input [1] 0.0163 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] 0.0143 0.0275
Derivative liability, measurement input [1] 0.0143 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] 0.0163 0.0284
Derivative liability, measurement input [1] 0.0163 0.0284
Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 55,050 $ 48,900
Equity securities $ 628 $ 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] (0.0003) 0.0018
Derivative liability, measurement input [2] (0.0003) 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] 0.0032 0.0071
Derivative liability, measurement input [2] 0.0032 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] (0.0003) 0.0018
Derivative liability, measurement input [2] (0.0003) 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] 0.0032 0.0071
Derivative liability, measurement input [2] 0.0032 0.0071
Mortgage- and asset-backed securities    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 409 $ 339
Mortgage- and asset-backed securities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 183 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 183 177
Mortgage- and asset-backed securities | Consensus pricing valuation technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 183 177
Mortgage- and asset-backed securities | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 146 162
Mortgage- and asset-backed securities | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 263 177
Banks/financial institutions    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 10,644 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 69 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 3,664 3,214
Banks/financial institutions | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 6,980 5,704
Public utilities    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 6,950 7,171
Public utilities | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 206 109
Public utilities | Discounted cash flow technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 206 109
Public utilities | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 206 109
Public utilities | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 4,691 5,163
Public utilities | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 2,259 2,008
Other corporate    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 34,659 29,002
Other corporate | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 224 213
Other corporate | Discounted cash flow technique    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 227 213
Other corporate | Discounted cash flow technique | Level 3    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 224 213
Other corporate | Dollar-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities 28,463 23,545
Other corporate | Yen-denominated    
Fair Value Measurement Inputs and Valuation Techniques    
Available for sale, fixed maturity securities $ 6,196 $ 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