XML 69 R47.htm IDEA: XBRL DOCUMENT v3.10.0.1
Variable Annuity and Insurance Guarantees (Tables)
12 Months Ended
Dec. 31, 2018
Insurance [Abstract]  
Schedule of variable annuity guarantees [Table Text Block] The following table provides information related to variable annuity guarantees for which the Company has established additional liabilities:
Variable Annuity Guarantees by Benefit Type (1)
December 31, 2018
 
December 31, 2017
Total Contract Value
Contract Value in Separate Accounts
Net Amount at Risk
 
Weighted Average Attained Age
Total Contract Value
 
Contract Value in Separate Accounts
 
Net Amount at Risk
 
Weighted Average Attained Age
 
(in millions, except age)
GMDB:
 
 
 
 
 
 
 
 
 
 
 
Return of premium
$
55,810
 
$
53,872
 
$
417

 
67
 
$
61,418
 
$
59,461
 
$
9

 
66
Five/six-year reset
7,670
 
4,941
 
112

 
67
 
8,870
 
6,149
 
12

 
66
One-year ratchet
5,560
 
5,210
 
417

 
70
 
6,548
 
6,187
 
11

 
69
Five-year ratchet
1,307
 
1,251
 
23

 
66
 
1,563
 
1,506
 
1

 
65
Other
1,033
 
1,014
 
148

 
72
 
1,099
 
1,075
 
50

 
72
Total — GMDB
$
71,380
 
$
66,288
 
$
1,117

 
67
 
$
79,498
 
$
74,378
 
$
83

 
66
 
 
 
 
 
 
 
 
 
 
 
 
GGU death benefit
$
992
 
$
940
 
$
112

 
70
 
$
1,118
 
$
1,067
 
$
133

 
70
 
 
 
 
 
 
 
 
 
 
 
 
GMIB
$
180
 
$
164
 
$
12

 
69
 
$
233
 
$
216
 
$
7

 
69
 
 
 
 
 
 
 
 
 
 
 
 
GMWB:
 
 
 
 
 
 
 
 
 
 
 
GMWB
$
1,990
 
$
1,984
 
$
3

 
72
 
$
2,508
 
$
2,500
 
$
1

 
71
GMWB for life
40,966
 
40,876
 
742

 
68
 
44,375
 
44,259
 
129

 
67
Total — GMWB
$
42,956
 
$
42,860
 
$
745

 
68
 
$
46,883
 
$
46,759
 
$
130

 
67
 
 
 
 
 
 
 
 
 
 
 
 
GMAB
$
2,456
 
$
2,450
 
$
24

 
59
 
$
3,086
 
$
3,083
 
$

 
59
(1) Individual variable annuity contracts may have more than one guarantee and therefore may be included in more than one benefit type. Variable annuity contracts for which the death benefit equals the account value are not shown in this table.
Schedule of net amount at risk UL secondary guarantees [Table Text Block] The following table provides information related to insurance guarantees for which the Company has established additional liabilities:
 
December 31, 2018
 
December 31, 2017
Net Amount at Risk
 
Weighted Average Attained Age
Net Amount at Risk
 
Weighted Average Attained Age
(in millions, except age)
UL secondary guarantees
$
6,513

 
66
 
$
6,460

 
65
Schedule of changes in additional liabilities for variable annuity and insurance guarantees [Table Text Block] Changes in additional liabilities (contra liabilities) for variable annuity and insurance guarantees were as follows:
 
GMDB & GGU
 
GMIB
 
GMWB (1)
 
GMAB (1)
 
UL
(in millions)
Balance at January 1, 2016
$
14

 
$
8

 
$
1,057

 
$

 
$
332

Incurred claims
11

 
1

 
(40
)
 
(23
)
 
127

Paid claims
(9
)
 
(1
)
 

 
(1
)
 
(25
)
Balance at December 31, 2016
16

 
8

 
1,017

 
(24
)
 
434

Incurred claims
5

 

 
(554
)
 
(56
)
 
84

Paid claims
(4
)
 
(2
)
 

 

 
(29
)
Balance at December 31, 2017
17

 
6

 
463

 
(80
)
 
489

Incurred claims
8

 
2

 
412

 
61

 
201

Paid claims
(6
)
 

 

 

 
(31
)
Balance at December 31, 2018
$
19

 
$
8

 
$
875

 
$
(19
)
 
$
659


(1) The incurred claims for GMWB and GMAB include the change in the fair value of the liabilities (contra liabilities) less paid claims.
Schedule of separate account balances by asset type [Table Text Block] The following table summarizes the distribution of separate account balances by asset type for variable annuity contracts providing guaranteed benefits:
 
December 31,
2018
 
2017
(in millions)
Mutual funds:
 
 
 
Equity
$
39,764

 
$
46,038

Bond
21,190

 
23,529

Other
5,568

 
5,109

Total mutual funds
$
66,522

 
$
74,676