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Derivatives and Hedging Activities - Notional Value and Gross Fair Value (Details) - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Derivatives and Hedging Activities    
Notional $ 144,815 $ 140,957
Gross Fair Value Assets, freestanding derivatives 5,574 5,870
Gross Fair Value Liabilities, freestanding derivatives 4,223 4,312
Fair Value Liabilities, embedded derivatives, net [1],[2] 2,862 3,381
Total Gross Fair Value, derivative assets [3] 5,633 5,870
Total Gross Fair Value, derivative liabilities [1],[2] 7,085 7,693
Derivative liability after application of master netting arrangements and cash collateral including embedded derivative liabilities 3,200 3,700
Fair value of investment securities received as collateral 123 325
Fair value of investment securities received as collateral that can be repledged 123 325
Fair value of investment securities received as collateral that were repledged 0 0
Receivables    
Derivatives and Hedging Activities    
Gross Fair Value Assets, embedded derivatives [3] 59  
GMWB and GMAB embedded derivatives    
Derivatives and Hedging Activities    
Gross Fair Value Assets, embedded derivatives 133 67
Gross Fair Value Liabilities, embedded derivatives 1,600 2,400
GMWB and GMAB embedded derivatives | Policyholder account balances, future policy benefits and claims    
Derivatives and Hedging Activities    
Fair Value Liabilities, embedded derivatives, net [1],[2],[4] 1,486 2,316
IUL embedded derivatives | Policyholder account balances, future policy benefits and claims    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, embedded derivatives [1],[2] 905 935
Deposit receivables embedded derivative | Receivables    
Derivatives and Hedging Activities    
Gross Fair Value Assets, embedded derivatives [3] 59  
Fixed deferred indexed annuities embedded derivatives | Policyholder account balances, future policy benefits and claims    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, embedded derivatives [1],[2] 61 52
Structured variable annuity embedded derivatives | Policyholder account balances, future policy benefits and claims    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, embedded derivatives [1],[2] 406 70
SMC embedded derivatives | Customer deposits    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, embedded derivatives [1],[2] 4 8
Designated as hedging instruments    
Derivatives and Hedging Activities    
Notional 77 32
Designated as hedging instruments | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2]   2
Designated as hedging instruments | Equity contracts    
Derivatives and Hedging Activities    
Notional 19  
Designated as hedging instruments | Foreign exchange contracts    
Derivatives and Hedging Activities    
Notional 58 32
Designated as hedging instruments | Foreign exchange contracts | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2]   2
Not designated as hedging instruments    
Derivatives and Hedging Activities    
Notional 144,738 140,925
Not designated as hedging instruments | Other assets    
Derivatives and Hedging Activities    
Gross Fair Value Assets, freestanding derivatives [3] 5,574 5,870
Not designated as hedging instruments | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2] 4,223 4,310
Not designated as hedging instruments | Interest rate contracts    
Derivatives and Hedging Activities    
Notional 79,468 77,951
Not designated as hedging instruments | Interest rate contracts | Other assets    
Derivatives and Hedging Activities    
Gross Fair Value Assets, freestanding derivatives [3] 1,252 1,755
Not designated as hedging instruments | Interest rate contracts | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2] 468 734
Not designated as hedging instruments | Equity contracts    
Derivatives and Hedging Activities    
Notional 61,142 57,254
Not designated as hedging instruments | Equity contracts | Other assets    
Derivatives and Hedging Activities    
Gross Fair Value Assets, freestanding derivatives [3] 4,293 4,090
Not designated as hedging instruments | Equity contracts | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2] 3,754 3,571
Not designated as hedging instruments | Credit contracts    
Derivatives and Hedging Activities    
Notional 1,748 2,297
Not designated as hedging instruments | Credit contracts | Other assets    
Derivatives and Hedging Activities    
Gross Fair Value Assets, freestanding derivatives [3] 9 2
Not designated as hedging instruments | Credit contracts | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2]   1
Not designated as hedging instruments | Foreign exchange contracts    
Derivatives and Hedging Activities    
Notional 2,380 3,423
Not designated as hedging instruments | Foreign exchange contracts | Other assets    
Derivatives and Hedging Activities    
Gross Fair Value Assets, freestanding derivatives [3] 20 23
Not designated as hedging instruments | Foreign exchange contracts | Other liabilities    
Derivatives and Hedging Activities    
Gross Fair Value Liabilities, freestanding derivatives [1],[2] $ 1 $ 4
[1] The fair value of freestanding derivative liabilities is included in Other liabilities. The fair value of GMWB and GMAB, IUL, fixed deferred indexed annuity and structured variable annuity embedded derivatives is included in Policyholder account balances, future policy benefits and claims. The fair value of the SMC embedded derivative liability is included in Customer deposits.
[2] The fair value of the Company’s derivative liabilities after considering the effects of master netting arrangements, cash collateral held by the same counterparty and the fair value of net embedded derivatives was $3.2 billion and $3.7 billion as of December 31, 2021 and 2020, respectively. See Note 16 for additional information related to master netting arrangements and cash collateral.
[3] The fair value of freestanding derivative assets is included in Other assets and the fair value of ceded embedded derivative assets related to deposit receivables is included in Receivables.
[4] The fair value of the GMWB and GMAB embedded derivatives as of December 31, 2021 included $1.6 billion of individual contracts in a liability position and $133 million of individual contracts in an asset position. The fair value of the GMWB and GMAB embedded derivatives as of December 31, 2020 included $2.4 billion of individual contracts in a liability position and $67 million of individual contracts in an asset position.