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Investments (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments [Table Text Block]
September 30, 2020December 31, 2019
(in millions)
Available-for-Sale securities, at fair value (net of allowance for credit losses: 2020, $14)
$35,959 $33,129 
Mortgage loans, net (net of allowance for credit losses: 2020, $29; 2019, $19)
2,770 2,778 
Policy loans849 868 
Other investments (net of allowance for credit losses: 2020, $13; 2019, $5)
1,159 1,140 
Total$40,737 $37,915 
Summary of Net Investment Income [Table Text Block]
Three Months Ended September 30, Nine Months Ended September 30,
2020201920202019
(in millions)
Investment income on fixed maturities$275 $349 $887 $1,046 
Net realized gains (losses)4 (1)(10)(18)(1)(6)
Affordable housing partnerships(14)(26)(50)(58)
Other13 19 58 67 
Consolidated investment entities22 24 56 72 
Total$300 $356 $933 $1,121 
(1) Includes the change in the allowance for credit losses of $(2) million and $(30) million for the three months and nine months ended September 30, 2020, respectively.
Available-for-Sale securities distributed by type were as follows:
Available-for-Sale Securities Disclosure [Table Text Block]
September 30, 2020
Description of Securities
Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair Value
 (in millions)
Corporate debt securities$11,402 $1,667 $(34)$(13)$13,022 
Residential mortgage backed securities10,071 194 (7)— 10,258 
Commercial mortgage backed securities6,016 235 (39)— 6,212 
Asset backed securities3,053 48 (12)(1)3,088 
State and municipal obligations1,091 290 (1)— 1,380 
U.S. government and agency obligations1,680 — — — 1,680 
Foreign government bonds and obligations250 19 (2)— 267 
Other securities 51 1 — — 52 
Total$33,614 $2,454 $(95)$(14)$35,959 
Description of SecuritiesDecember 31, 2019
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
 (in millions)
Corporate debt securities$10,847 $1,344 $(4)$12,187 
Residential mortgage backed securities9,954 94 (19)10,029 
Commercial mortgage backed securities5,473 96 (6)5,563 
Asset backed securities1,968 42 (4)2,006 
State and municipal obligations1,131 238 (2)1,367 
U.S. government and agency obligations1,679 1 — 1,680 
Foreign government bonds and obligations254 19 (2)271 
Other securities26 — — 26 
Total$31,332 $1,834 $(37)$33,129 
Fixed Maturity Securities by Rating Disclosure [Table Text Block]
A summary of fixed maturity securities by rating was as follows:
Ratings
September 30, 2020December 31, 2019
Amortized CostFair ValuePercent of Total Fair ValueAmortized CostFair ValuePercent of Total Fair Value
 (in millions, except percentages)
AAA$20,156 $20,563 57 %$18,256 $18,437 56 %
AA1,120 1,359 4 1,113 1,304 4 
A2,905 3,459 9 3,008 3,474 10 
BBB7,841 8,923 25 8,178 9,102 28 
Below investment grade (1)
1,592 1,655 5 777 812 2 
Total fixed maturities$33,614 $35,959 100 %$31,332 $33,129 100 %
(1) The amortized cost and fair value of below investment grade securities includes interest in CLOs managed by the Company of $4 million and $2 million, respectively, as of September 30, 2020, and $5 million and $6 million, respectively, as of December 31, 2019. These securities are not rated but are included in below investment grade due to their risk characteristics.
Available-for-Sale Securities Continuous Unrealized Loss Disclosure [Table Text Block]
The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position:
Description of SecuritiesSeptember 30, 2020
Less than 12 months12 months or moreTotal
Number of SecuritiesFair ValueUnrealized Losses Number of SecuritiesFair ValueUnrealized Losses Number of SecuritiesFair ValueUnrealized Losses
 (in millions, except number of securities)
Corporate debt securities
76 $817 $(29)16 $24 $(5)92 $841 $(34)
Residential mortgage backed securities
93 1,677 (5)73 434 (2)166 2,111 (7)
Commercial mortgage backed securities
49 1,190 (24)18 326 (15)67 1,516 (39)
Asset backed securities
53 932 (8)11 184 (4)64 1,116 (12)
State and municipal obligations
4 14 (1)1 4 — 5 18 (1)
Foreign government bonds and obligations
6 25 (1)10 10 (1)16 35 (2)
Total
281 $4,655 $(68)129 $982 $(27)410 $5,637 $(95)
Description of SecuritiesDecember 31, 2019
Less than 12 months12 months or moreTotal
Number of SecuritiesFair ValueUnrealized LossesNumber of SecuritiesFair ValueUnrealized LossesNumber of SecuritiesFair ValueUnrealized Losses
 
(in millions, except number of securities)
Corporate debt securities
13 $66 $(1)23 $173 $(3)36 $239 $(4)
Residential mortgage backed securities
150 4,328 (10)118 1,164 (9)268 5,492 (19)
Commercial mortgage backed securities
52 1,622 (3)31 314 (3)83 1,936 (6)
Asset backed securities
34 598 (3)16 213 (1)50 811 (4)
State and municipal obligations
5 23 — 4 57 (2)9 80 (2)
Foreign government bonds and obligations
1 — — 10 15 (2)11 15 (2)
Total
255 $6,637 $(17)202 $1,936 $(20)457 $8,573 $(37)
Credit Losses on Available-for-Sale Securities Disclosure [Table Text Block]
The following tables present a rollforward of the allowance for credit losses on Available-for-Sale securities:
Corporate Debt SecuritiesAsset Backed SecuritiesTotal
(in millions)
Balance, July 1, 2020
$13$1$14
Additions for which credit losses were not previously recorded
———
Additional increases (decreases) on securities that had an allowance recorded in a previous period
———
Balance, September 30, 2020
$13$1$14
Corporate Debt SecuritiesAsset Backed SecuritiesTotal
(in millions)
Balance, January 1, 2020 (1)
$—$—$—
Additions for which credit losses were not previously recorded
13—13
Additional increases (decreases) on securities that had an allowance recorded in a previous period
—11
Balance, September 30, 2020
$13$1$14
(1) Prior to January 1, 2020, credit losses on Available-for-Sale securities were not recorded in an allowance but were recorded as a reduction of the book value of the security if the security was other-than-temporarily impaired. There is no adoption impact due to the prospective transition for Available-for-Sale securities.
Net Realized Gains and Losses on Available-for-Sale Securities Disclosure [Table Text Block]
Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in net investment income were as follows:
 Three Months Ended September 30, Nine Months Ended September 30,
2020201920202019
(in millions)
Gross realized investment gains
$4$6$17$28
Gross realized investment losses
—(1)(3)(13)
Credit losses
—(15)(14)(20)
Total
$4$(10)$—$(5)
Available-for-Sale Securities Contractual Maturity Disclosure [Table Text Block]
Amortized CostFair Value
(in millions)
Due within one year$2,998$3,013
Due after one year through five years4,8455,150
Due after five years through 10 years2,5332,814
Due after 10 years4,0985,424
 14,47416,401
Residential mortgage backed securities10,07110,258
Commercial mortgage backed securities6,0166,212
Asset backed securities3,0533,088
Total$33,614$35,959