XML 81 R67.htm IDEA: XBRL DOCUMENT v3.21.1
FAIR VALUE MEASUREMENTS - Changes in Investments and Derivatives Carried at Fair Value Classified as Level 3 (Detail) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period $ 1,021 $ 810
Net investment gains (losses) included in earnings 28 (185)
Unrealized gains (losses) included in other comprehensive income (loss) (50) (28)
Purchases 104 85
Issuances 0 0
Sales 0 0
Settlements (3) (1)
Transfers into Level 3 55 9
Transfers out of Level 3 (15) 0
Balance, end of period 1,140 690
Change in unrealized gains (losses) still held 19 (185)
Foreign currency swaps    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Balance, beginning of period [1] (98) 43
Net investment gains (losses) included in earnings [1] 19 (185)
Unrealized gains or losses included in other comprehensive income (loss) [1] (1) (4)
Purchases [1] 0 0
Issuances [1] 0 0
Sales [1] 0 0
Settlements [1] 0 0
Transfers into Level 3 [1] 0 0
Transfers out of Level 3 [1] 0 0
Balance, end of period [1] (80) (146)
Changes in unrealized gain (losses) still held [1] 19 (185)
Fixed maturity securities | Mortgage- and asset-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 224 178
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) (15) 1
Purchases 10 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 0 9 [2]
Transfers out of Level 3 (15) [3] 0
Balance, end of period 204 188
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Public utilities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 422 224
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) (18) (8)
Purchases 78 83
Issuances 0 0
Sales 0 0
Settlements (3) (1)
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Balance, end of period 479 298
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Sovereign and supranational    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 48  
Net investment gains (losses) included in earnings 0  
Unrealized gains (losses) included in other comprehensive income (loss) (3)  
Purchases 0  
Issuances 0  
Sales 0  
Settlements 0  
Transfers into Level 3 [4] 23  
Transfers out of Level 3 0  
Balance, end of period 68  
Change in unrealized gains (losses) still held 0  
Fixed maturity securities | Banks/financial institutions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 24 23
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) (1) 0
Purchases 5 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Balance, end of period 28 23
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Other corporate    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 299 262
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) (12) (17)
Purchases 0 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 32 [4] 0
Transfers out of Level 3 0 0
Balance, end of period 319 245
Change in unrealized gains (losses) still held 0 0
Equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 102 80
Net investment gains (losses) included in earnings 9 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 0
Purchases 11 2
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 0
Balance, end of period 122 82
Change in unrealized gains (losses) still held $ 0 $ 0
[1] Derivative assets and liabilities are presented net
[2] Transfer due to reclassification of level 3 securities from HTM to AFS
[3] Transfer due to availability of observable market inputs
[4] Transfer due to a lack of availability of observable market inputs