XML 77 R66.htm IDEA: XBRL DOCUMENT v3.21.2
FAIR VALUE MEASUREMENTS - Changes in Investments and Derivatives Carried at Fair Value Classified as Level 3 (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period $ 1,140 $ 690 $ 1,021 $ 810
Net investment gains (losses) included in earnings (107) (20) (79) (205)
Unrealized gains (losses) included in other comprehensive income (loss) 22 0 (28) (29)
Purchases 70 31 174 116
Issuances 17 0 17 0
Sales (23) (1) (23) (1)
Settlements (24) (5) (27) (5)
Transfers into Level 3 0 15 55 24
Transfers out of Level 3 0 (15) (15) (15)
Balance, end of period 1,095 695 1,095 695
Change in unrealized gains (losses) still held (120) (20) (101) (205)
Foreign currency swaps        
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]        
Balance, beginning of period (80) (146) (98) 43
Net investment gains (losses) included in earnings (120) (20) (101) (205)
Unrealized gains or losses included in other comprehensive income (loss) 0 (2) (1) (6)
Purchases 0 0 0 0
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Transfers into Level 3 0 0 0 0
Transfers out of Level 3 0 0 0 0
Balance, end of period (200) (168) (200) (168)
Changes in unrealized gain (losses) still held (120) (20) (101) (205)
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 204 188 224 178
Net investment gains (losses) included in earnings 0 0 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 1 (15) 2
Purchases 54 0 64 0
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 (1) 0 (1)
Transfers into Level 3 0 0 0 9
Transfers out of Level 3 0 0 (15) 0
Balance, end of period 258 188 258 188
Change in unrealized gains (losses) still held 0 0 0 0
Fixed maturity securities | Public utilities        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 479 298 422 224
Net investment gains (losses) included in earnings 0 0 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 8 0 (10) (9)
Purchases 0 13 78 96
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements (7) (4) (10) (4)
Transfers into Level 3 0 15 0 15
Transfers out of Level 3 0 0 0 0
Balance, end of period 480 322 480 322
Change in unrealized gains (losses) still held 0 0 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 68   48  
Net investment gains (losses) included in earnings 0   0  
Unrealized gains (losses) included in other comprehensive income (loss) 0   (3)  
Purchases 0   0  
Issuances 0   0  
Sales (23)   (23)  
Settlements 0   0  
Transfers into Level 3 0   23  
Transfers out of Level 3 0   0  
Balance, end of period 45   45  
Change in unrealized gains (losses) still held 0   0  
Fixed maturity securities | Banks/financial institutions        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 28 23 24 23
Net investment gains (losses) included in earnings 0 0 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 0 (1) 0
Purchases 10 1 15 1
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements 0 0 0 0
Transfers into Level 3 0 0 0 0
Transfers out of Level 3 0 0 0 0
Balance, end of period 38 24 38 24
Change in unrealized gains (losses) still held 0 0 0 0
Fixed maturity securities | Other corporate        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 319 245 299 262
Net investment gains (losses) included in earnings 0 0 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 14 1 2 (16)
Purchases 0 12 0 12
Issuances 0 0 0 0
Sales 0 0 0 0
Settlements (17) 0 (17) 0
Transfers into Level 3 0 0 32 0
Transfers out of Level 3 0 (15) 0 (15)
Balance, end of period 316 243 316 243
Change in unrealized gains (losses) still held 0 0 0 0
Equity securities        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning of period 122 82 102 80
Net investment gains (losses) included in earnings 13 0 22 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 0 0 0
Purchases 6 5 17 7
Issuances 17 0 17 0
Sales 0 (1) 0 (1)
Settlements 0 0 0 0
Transfers into Level 3 0 0 0 0
Transfers out of Level 3 0 0 0 0
Balance, end of period 158 86 158 86
Change in unrealized gains (losses) still held $ 0 $ 0 $ 0 $ 0