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DERIVATIVE INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below summarizes the balance sheet classification of the Company's derivative fair value amounts, as well as the gross asset and liability fair value amounts. The fair value amounts presented do not include income accruals. Derivative assets are included in other assets, while derivative liabilities are included in other liabilities within the Company’s consolidated balance sheets. The notional amount of derivative contracts represents the basis upon which pay or receive amounts are calculated and are not reflective of exposure or credit risk.
  March 31, 2024December 31, 2023
(In millions)Asset
Derivatives		Liability
Derivatives		Asset
Derivatives		Liability
Derivatives
Hedge Designation/ Derivative
  Type		Notional
Amount		Fair ValueFair ValueNotional
Amount		Fair ValueFair Value
Cash flow hedges:
Foreign currency swaps - VIE$18 $0 $5 $18 $0 $4 
Total cash flow hedges18 0 5 18 0 4 
Fair value hedges:
Foreign currency options0 0 0 2,158 0 0 
Total fair value hedges0 0 0 2,158 0 0 
Net investment hedge:
Foreign currency forwards2,339 202 0 2,611 179 27 
Foreign currency options0 0 0 456 0 0 
Total net investment hedge2,339 202 0 3,067 179 27 
Non-qualifying strategies:
Foreign currency swaps1,200 24 0 1,200 31 0 
Foreign currency swaps - VIE3,417 57 578 3,417 55 503 
Foreign currency forwards0 0 0 7,402 59 477 
Foreign currency options28,715 38 69 22,557 2 0 
Interest rate swaps17,230 0 483 17,230 11 419 
Total non-qualifying strategies50,562 119 1,130 51,806 158 1,399 
Total derivatives$52,919 $321 $1,135 $57,049 $337 $1,430 
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table presents the gains and losses on derivatives and the related hedged items in fair value hedges. The Company had no fair value hedges during the three-month period ending March 31, 2024.

Fair Value Hedging Relationships
(In millions)Hedging DerivativesHedged Items
Hedging DerivativesHedged Items Total
Gains
(Losses)
Gains (Losses)
Excluded from Effectiveness Testing(1)
Gains (Losses)
Included in Effectiveness Testing(2)
 Gains (Losses)(2)
Net Investment Gains (Losses) Recognized for Fair Value Hedge
Three Months Ended March 31, 2023:
Foreign currency optionsFixed maturity securities$(39)$(39)$0 $0 $0 
Total gains (losses)$(39)$(39)$0 $0 $0 
(1) Gains (losses) excluded from effectiveness testing includes the forward point on foreign currency forwards and time value change on foreign currency options which are reported in the consolidated statements of earnings as net investment gains (losses). It also includes the change in the fair value of the interest rate swaptions related to the time value of the swaptions which is recognized as a component of other comprehensive income (loss).
(2) Gains and losses on foreign currency forwards and options and related hedged items are reported in the consolidated statements of earnings as net investment gains (losses). For interest rate swaptions and related hedged items, gains and losses included in the hedge assessment, premium amortization and time value amortization while the hedge items are still outstanding are reported within net investment income. The time value gains and losses for interest rate swaptions when the related hedged items are redeemed are reported in net investment gains (losses) consistent with the impact of the hedged item. For the three-month period ended March 31, 2023, gains and losses included in the hedge assessment on interest rate swaptions and related hedged items were immaterial.
Schedule of Interest Rate Fair Value Hedges Hedged Items
The following table shows the carrying amounts of assets designated and qualifying as hedged items in fair value hedges of interest rate risk and the related cumulative hedge adjustment included in the carrying amount. The Company had no fair value hedges of interest rate risk as of March 31, 2024 and December 31, 2023; therefore, the amounts presented in the table below are related to previous fair value hedges of interest rate risk that were discontinued.
(In millions)
Carrying Amount of the Hedged Assets/(Liabilities)(1)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of Hedged Assets/(Liabilities)
March 31,
2024		December 31, 2023March 31,
2024		December 31, 2023
Fixed maturity securities$1,597 $1,692 $161 $164 
(1) The balance includes hedging adjustment on discontinued hedging relationships of $161 in 2024 and $164 in 2023.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table summarizes the impact to earnings and other comprehensive income (loss) from all derivatives and hedging instruments.
Three Months Ended March 31,
20242023
(In millions)
Net Investment Income(1)
Net Investment
Gains (Losses)
Other
Comprehensive
Income (Loss)(2)
Net Investment Income(1)
Net Investment
Gains (Losses)
Other
Comprehensive
Income (Loss)(2)
Qualifying hedges:
  Cash flow hedges:
       Foreign currency swaps - VIE$0 $(1)$0 $0 $(1)$1 
  Total cash flow hedges0 (1)
(3)
0 0 (1)
(3)
1 
  Fair value hedges:
       Foreign currency options0 (39)
  Total fair value hedges0 (39)
  Net investment hedge:
       Non-derivative hedging
         instruments		0 236 0 25 
       Foreign currency forwards44 145 90 29 
       Foreign currency options 0 0 (3)0 
  Total net investment hedge44 381 87 54 
  Non-qualifying strategies:
       Foreign currency swaps1 1 
       Foreign currency swaps - VIE(88)(27)
       Foreign currency forwards17 (51)
       Foreign currency options (41)(19)
       Interest rate swaps(147)69 
       Forward bond purchase
         commitment - VIE		0 (3)
  Total non-qualifying strategies(258)(30)
          Total$0 $(215)$381 $0 $17 $55 
(1) Interest expense/income on cash flow hedges are recorded in net investment income. For interest rate swaptions classified as fair value hedges, the change in the time value of the swaptions is recognized in other comprehensive income (loss) and amortized into net investment income over its legal term. If the swaption is early terminated but the hedge item is still outstanding, the amortization of disposal amount of the swaptions is recorded in net investment income over the remaining life of the hedged items.
(2) Gains and losses on cash flow hedges 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). Gains and losses on net investment hedges related to changes in foreign currency spot rates are recorded in the unrealized foreign currency translation gains (losses) line in the consolidated statements of comprehensive income (loss).
(3) Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended March 31, 2024, and $1 of losses during the three-month period ended March 31, 2023.
Offsetting Assets
Offsetting of Financial Assets and Derivative Assets
March 31, 2024
Gross Amounts Not Offset
in Balance Sheet
(In millions)Gross Amount of Recognized AssetsGross Amount
Offset in
Balance
Sheet		Net Amount of Assets Presented
 in Balance Sheet		Financial InstrumentsSecurities
Collateral		Cash Collateral ReceivedNet Amount
Derivative
  assets:
    Derivative
      assets subject to a
      master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral$264 $0 $264 $(38)$(78)$(148)$0 
    Total derivative
      assets subject to a
      master netting
      agreement or
      offsetting
      arrangement		264 0 264 (38)(78)(148)0 
    Derivative
      assets not subject
      to a master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral57 57 57 
    Total derivative
      assets not subject
      to a master netting
      agreement or
      offsetting
      arrangement		57 57 57 
    Total derivative
      assets		321 0 321 (38)(78)(148)57 
Securities lending
   and similar
   arrangements		3,334 0 3,334 0 0 (3,334)0 
    Total$3,655 $0 $3,655 $(38)$(78)$(3,482)$57 
December 31, 2023
Gross Amounts Not Offset
in Balance Sheet
(In millions)Gross Amount of Recognized AssetsGross Amount
Offset in
Balance
Sheet		Net Amount of Assets Presented
 in Balance Sheet		Financial InstrumentsSecurities
Collateral		Cash Collateral ReceivedNet Amount
Derivative
  assets:
    Derivative
      assets subject to a
      master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral$271 $0 $271 $(85)$(53)$(130)$3 
          OTC - cleared11 0 11 (11)0 0 0 
    Total derivative
      assets subject to a
      master netting
      agreement or
      offsetting
      arrangement		282 0 282 (96)(53)(130)3 
    Derivative
      assets not subject
      to a master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral55 55 55 
    Total derivative
      assets not subject
      to a master netting
      agreement or
      offsetting
      arrangement		55 55 55 
    Total derivative
      assets		337 0 337 (96)(53)(130)58 
Securities lending
   and similar
   arrangements		1,480 0 1,480 0 0 (1,480)0 
    Total$1,817 $0 $1,817 $(96)$(53)$(1,610)$58 
Offsetting Liabilities
Offsetting of Financial Liabilities and Derivative Liabilities
March 31, 2024
Gross Amounts Not Offset
in Balance Sheet
(In millions)Gross Amount of Recognized LiabilitiesGross Amount
Offset in
Balance
Sheet		Net Amount of Liabilities Presented
 in Balance Sheet		Financial InstrumentsSecurities
Collateral		Cash Collateral PledgedNet Amount
Derivative
  liabilities:
    Derivative
      liabilities subject
      to a master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral$69 $0 $69 $(38)$(31)$0 $0 
          OTC - cleared483 0 483 0 (27)(456)0 
    Total derivative
      liabilities subject
      to a master netting
      agreement or
      offsetting
      arrangement		552 0 552 (38)(58)(456)0 
    Derivative
      liabilities not
      subject to a
      master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral583 583 583 
    Total derivative
      liabilities not
      subject to a
      master netting
      agreement or
      offsetting
      arrangement		583 583 583 
    Total derivative
      liabilities		1,135 0 1,135 (38)(58)(456)583 
Securities lending
   and similar
   arrangements		3,366 0 3,366 (3,334)0 0 32 
    Total$4,501 $0 $4,501 $(3,372)$(58)$(456)$615 
December 31, 2023
Gross Amounts Not Offset
in Balance Sheet
(In millions)Gross Amount of Recognized LiabilitiesGross Amount
Offset in
Balance
Sheet		Net Amount of Liabilities Presented
 in Balance Sheet		Financial InstrumentsSecurities
Collateral		Cash Collateral PledgedNet Amount
Derivative
  liabilities:
    Derivative
      liabilities subject
      to a master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral$504 $0 $504 $(85)$(381)$(37)$1 
          OTC - cleared419 0 419 (11)(19)(389)0 
    Total derivative
      liabilities subject
      to a master netting
      agreement or
      offsetting
      arrangement		923 0 923 (96)(400)(426)1 
    Derivative
      liabilities not
      subject to a
      master netting
      agreement or
      offsetting
      arrangement
          OTC - bilateral507 507 507 
    Total derivative
      liabilities not
      subject to a
      master netting
      agreement or
      offsetting
      arrangement		507 507 507 
    Total derivative
      liabilities		1,430 0 1,430 (96)(400)(426)508 
Securities lending
   and similar
   arrangements		1,503 0 1,503 (1,480)0 0 23 
    Total$2,933 $0 $2,933 $(1,576)$(400)$(426)$531