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DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] $ (1) $ (1)
Unrealized foreign currency translation gains (losses) during period 85 (1)
Derivative gains (losses) (85) 0
Derivative and non-derivative hedging instruments gain (loss) recognized in other comprehensive income effective portion before tax [2] (23) (3)
Cash flow hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] (1) (1)
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) [3] 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] (4) (2)
Cash flow hedges | Foreign currency swaps | Variable Interest Entity    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] (1) (1)
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] (4) (2)
Fair value hedges    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1] 0 0
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) (6) (13)
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2] 0 (1)
Fair value hedges | Foreign currency forwards    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) [3] (6) (9)
Fair value hedges | Foreign currency options    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) [3] 0 (4)
Fair value hedges | Interest rate swaptions    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net [1],[3] 0 0
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) [3] 0 0
Gain (loss) recognized in other comprehensive income on derivative (effective portion) [2],[3] 0 (1)
Net investment hedge    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) 57 0
Unrealized foreign currency translation gains (losses) during period [2] (19) 0
Net investment hedge | Foreign currency forwards    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) 51 0
Unrealized foreign currency translation gains (losses) during period [2] (25) 0
Net investment hedge | Foreign currency options    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) 6 0
Unrealized foreign currency translation gains (losses) during period [2] 0 0
Net investment hedge | Non-derivative hedging instruments    
Derivative Instruments, Gain (Loss) [Line Items]    
Net realized investment gains (losses) recognized in income on derivative (ineffective portion) 0 0
Unrealized foreign currency translation gains (losses) during period [2] 6 0
Non-qualifying strategies    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net (136) 13
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net (195) (16)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net 50 44
Non-qualifying strategies | Foreign currency forwards    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net (36) (21)
Non-qualifying strategies | Foreign currency options    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net (2) 0
Non-qualifying strategies | Interest rate swaps    
Derivative Instruments, Gain (Loss) [Line Items]    
Derivative instruments, gain (loss) recognized in income, net $ 47 $ 6
[1] Cash flow hedge items and the change in the fair value of interest rate swaptions related to the time value of the swaptions in fair value hedges are recorded as unrealized gains (losses) on derivatives and net investment hedge items are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statement of comprehensive income (loss).
[2] Impact of cash flow hedges reported as net investment gains (losses) includes an immaterial amount of gains or losses reclassified from accumulated other comprehensive income (loss) into earnings. It also includes an immaterial amount excluded from effectiveness testing during the three-month periods ended March 31, 2020 and 2019, respectively.
[3] Impact shown net of effect of hedged items (see Fair Value Hedges section of this Note 4 for further detail)