Variable Annuity and Insurance Guarantees (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of variable annuity guarantees with additional liabilities


Variable Annuity Guarantees by Benefit Type (1)	June 30, 2021							December 31, 2020
	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	$	69,623	$	67,714	$	4	68	$	66,874	$	64,932	$	5	68
Five/six-year reset	8,364		5,646		6		68	8,116		5,386		6		68
One-year ratchet	6,256		5,933		8		71	6,094		5,763		8		71
Five-year ratchet	1,463		1,409		1		67	1,436		1,381		—		67
Other	1,305		1,288		36		74	1,261		1,243		45		73
Total — GMDB	$	87,011	$	81,990	$	55	68	$	83,781	$	78,705	$	64	68

GGU death benefit	$	1,242	$	1,187	$	182	72	$	1,183	$	1,126	$	162	71

GMIB	$	192	$	178	$	5	71	$	187	$	173	$	6	71
GMWB:
GMWB	$	1,972	$	1,967	$	1	74	$	1,972	$	1,967	$	1	74
GMWB for life	52,130		52,064		163		69	50,142		50,057		185		69
Total — GMWB	$	54,102	$	54,031	$	164	69	$	52,114	$	52,024	$	186	69

GMAB	$	2,143	$	2,143	$	—	61	$	2,291	$	2,291	$	—	61

(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 insurance guarantees with additional liabilities


	June 30, 2021			December 31, 2020
	Net Amount at Risk		Weighted Average Attained Age	Net Amount at Risk		Weighted Average Attained Age
	(in millions, except age)
UL secondary guarantees	$	6,565	68	$	6,587	67

Schedule of changes in additional liabilities (contra liabilities) for variable annuity and insurance guarantees


	GMDB & GGU		GMIB		GMWB (1)		GMAB (1)		UL
	(in millions)
Balance at January 1, 2020	$	16	$	7	$	1,462	$	(39)	$	758
Incurred claims	5		1		2,387		69		65
Paid claims	(4)		(1)		—		—		(24)
Balance at June 30, 2020	$	17	$	7	$	3,849	$	30	$	799

Balance at January 1, 2021	$	24	$	6	$	3,049	$	1	$	916
Incurred claims	9		—		(900)		(21)		69
Paid claims	(2)		—		—		—		(16)
Balance at June 30, 2021	$	31	$	6	$	2,149	$	(20)	$	969

(1) The incurred claims for GMWB and GMAB include the change in the fair value of the liabilities (contra liabilities) less paid claims.

Summary of distribution of separate account balances by asset type


	June 30, 2021		December 31, 2020
	(in millions)
Mutual funds:
Equity	$	48,376	$	45,947
Bond	25,684		26,073
Other	8,151		6,911
Total mutual funds	$	82,211	$	78,931