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Investments (Tables)
9 Months Ended
Sep. 30, 2019
Investments [Abstract]  
Net Realized Capital Gains (Losses)
Net Realized Capital Gains
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Before tax)
2019
2018
 
2019
2018
Gross gains on sales
$
77

$
26

 
$
190

$
91

Gross losses on sales
(4
)
(41
)
 
(44
)
(129
)
Equity securities [1]
19

46

 
181

88

Net OTTI losses recognized in earnings
(1
)
(1
)
 
(3
)
(1
)
Valuation allowances on mortgage loans


 
1


Transactional foreign currency revaluation


 

1

Non-qualifying foreign currency derivatives
2

1

 
2

2

Other, net [2]
(4
)
7

 
5

8

Net realized capital gains
$
89

$
38

 
$
332

$
60


[1]
Includes all changes in fair value and trading gains and losses for equity securities. The net unrealized gain (loss) on equity securities included in net realized capital gains (losses) related to equity securities still held as of September 30, 2019, were $17 and $100 for the three and nine months ended September 30, 2019, respectively. The net unrealized gain (loss) on equity securities included in net realized capital gains (losses) related to equity securities still held as of September 30, 2018, were $41 and $50 for the three and nine months ended September 30, 2018, respectively.
[2]
Includes gains (losses) on non-qualifying derivatives, excluding foreign currency derivatives, of $(7) and $8, respectively, for the three months ended September 30, 2019 and 2018. For the nine months ended September 30, 2019 and 2018, the non-qualifying derivatives, excluding foreign currency derivatives, were $1 and $6 respectively.
Impairments
Impairments in Earnings by Type
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
2018
 
2019
2018
Credit impairments
$
1

$
1

 
$
3

$
1

Total impairments
$
1

$
1

 
$
3

$
1


Cumulative Credit Impairments
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(Before tax)
2019
2018
 
2019
2018
Balance as of beginning of period
$
(18
)
$
(20
)
 
$
(19
)
$
(25
)
Additions for credit impairments recognized on [1]:
 
 
 
 
 
Securities not previously impaired
(1
)

 
(3
)

Securities previously impaired

(1
)
 

(1
)
Reductions for credit impairments previously recognized on:
 
 
 
 
 
Securities that matured or were sold during the period

1

 
3

6

Balance as of end of period
$
(19
)
$
(20
)
 
$
(19
)
$
(20
)
[1]
These additions are included in the net OTTI losses recognized in earnings in the Condensed Consolidated Statements of Operations.
Schedule of Available-for-sale Securities
AFS Securities by Type
 
September 30, 2019
 
December 31, 2018
 
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Non-Credit
OTTI [1]
 
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Non-Credit
OTTI [1]
ABS
$
1,315

$
23

$
(1
)
$
1,337

$

 
$
1,272

$
5

$
(1
)
$
1,276

$

CLOs
2,162

4

(8
)
2,158


 
1,455

2

(20
)
1,437


CMBS
4,067

193

(6
)
4,254

(4
)
 
3,581

35

(64
)
3,552

(5
)
Corporate
16,867

970

(36
)
17,801


 
13,696

148

(446
)
13,398


Foreign govt./govt. agencies
1,053

65

(1
)
1,117


 
866

7

(26
)
847


Municipal
9,095

801

(1
)
9,895


 
9,972

421

(47
)
10,346


RMBS
4,626

107

(1
)
4,732


 
3,270

44

(35
)
3,279


U.S. Treasuries
989

106


1,095


 
1,491

41

(15
)
1,517


Total fixed maturities, AFS
$
40,174

$
2,269

$
(54
)
$
42,389

$
(4
)
 
$
35,603

$
703

$
(654
)
$
35,652

$
(5
)
[1]
Represents the amount of cumulative non-credit OTTI losses recognized in OCI on securities that also had credit impairments. These losses are included in gross unrealized losses as of September 30, 2019 and December 31, 2018.
Investments by Contractual Maturity Year
Fixed maturities, AFS, by Contractual Maturity Year
 
September 30, 2019
 
December 31, 2018

Amortized Cost
Fair Value
 
Amortized Cost
Fair Value
One year or less
$
1,226

$
1,233

 
$
999

$
1,002

Over one year through five years
7,144

7,333

 
5,786

5,791

Over five years through ten years
7,405

7,812

 
6,611

6,495

Over ten years
12,229

13,530

 
12,629

12,820

Subtotal
28,004

29,908

 
26,025

26,108

Mortgage-backed and asset-backed securities
12,170

12,481

 
9,578

9,544

Total fixed maturities, AFS
$
40,174

$
42,389

 
$
35,603

$
35,652


Unrealized Gain (Loss) on Investments [Table Text Block]
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of September 30, 2019
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
144

$
143

$
(1
)
 
$
11

$
11

$

 
$
155

$
154

$
(1
)
CLOs
1,109

1,105

(4
)
 
429

425

(4
)
 
1,538

1,530

(8
)
CMBS
88

87

(1
)
 
31

26

(5
)
 
119

113

(6
)
Corporate
930

918

(12
)
 
497

473

(24
)
 
1,427

1,391

(36
)
Foreign govt./govt. agencies
58

58


 
39

38

(1
)
 
97

96

(1
)
Municipal
128

127

(1
)
 



 
128

127

(1
)
RMBS
166

165

(1
)
 
69

69


 
235

234

(1
)
U.S. Treasuries
37

37


 
119

119


 
156

156


Total fixed maturities, AFS in an unrealized loss position
$
2,660

$
2,640

$
(20
)
 
$
1,195

$
1,161

$
(34
)
 
$
3,855

$
3,801

$
(54
)
Unrealized Loss Aging for AFS Securities by Type and Length of Time as of December 31, 2018
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
 
Amortized Cost
Fair Value
Unrealized Losses
ABS
$
566

$
566

$

 
$
113

$
112

$
(1
)
 
$
679

$
678

$
(1
)
CLOs
1,358

1,338

(20
)
 
7

7


 
1,365

1,345

(20
)
CMBS
896

882

(14
)
 
1,129

1,079

(50
)
 
2,025

1,961

(64
)
Corporate
7,174

6,903

(271
)
 
2,541

2,366

(175
)
 
9,715

9,269

(446
)
Foreign govt./govt. agencies
407

391

(16
)
 
203

193

(10
)
 
610

584

(26
)
Municipal
1,643

1,613

(30
)
 
292

275

(17
)
 
1,935

1,888

(47
)
RMBS
1,344

1,329

(15
)
 
648

628

(20
)
 
1,992

1,957

(35
)
U.S. Treasuries
497

492

(5
)
 
339

329

(10
)
 
836

821

(15
)
Total fixed maturities, AFS in an unrealized loss position
$
13,885

$
13,514

$
(371
)
 
$
5,272

$
4,989

$
(283
)
 
$
19,157

$
18,503

$
(654
)

Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets
Valuation Allowance Activity
 
2019
2018
Balance, as of January 1
$
(1
)
$
(1
)
Reversals
1


Deductions


Balance, as of September 30
$

$
(1
)

Loans Credit Quality
Mortgage Loans Credit Quality
 
September 30, 2019
 
December 31, 2018
Loan-to-value
Carrying Value
Avg. Debt-Service Coverage Ratio
 
Carrying Value
Avg. Debt-Service Coverage Ratio
65% - 80%
481

1.53x
 
386

1.60x
Less than 65%
3,255

2.52x
 
3,318

2.59x
Total mortgage loans
$
3,736

2.39x
 
$
3,704

2.49x

Mortgage Loans by Region
 
September 30, 2019
 
December 31, 2018
 
Carrying Value
Percent of Total
 
Carrying Value
Percent of Total
East North Central
$
274

7.3
%
 
$
250

6.8
%
Middle Atlantic
306

8.2
%
 
270

7.3
%
Mountain
63

1.7
%
 
30

0.8
%
New England
345

9.2
%
 
330

8.9
%
Pacific
835

22.4
%
 
917

24.8
%
South Atlantic
743

19.9
%
 
712

19.2
%
West North Central
121

3.2
%
 
148

4.0
%
West South Central
406

10.9
%
 
420

11.3
%
Other [1]
643

17.2
%
 
627

16.9
%
Total mortgage loans
$
3,736

100.0
%
 
$
3,704

100.0
%
[1]
Primarily represents loans collateralized by multiple properties in various regions.
Mortgage Loans by Property Type
 
September 30, 2019
 
December 31, 2018
 
Carrying Value
Percent of Total
 
Carrying
Value
Percent of Total
Commercial
 
 
 
 
 
Industrial
$
1,156

30.9
%
 
$
1,108

29.9
%
Multifamily
1,156

30.9
%
 
1,138

30.7
%
Office
719

19.3
%
 
708

19.1
%
Retail
430

11.5
%
 
392

10.6
%
Single Family
135

3.6
%
 
82

2.2
%
Other
140

3.8
%
 
276

7.5
%
Total mortgage loans
$
3,736

100.0
%
 
$
3,704

100.0
%

Securities Lending and Repurchase Agreements [Table Text Block]
Payables for Collateral on Investments
 
September 30, 2019
December 31, 2018
 
Fair Value
Fair Value

Securities Lending Transactions:
 
 
Gross amount of securities on loan
$
603

$
820

Gross amount of associated liability for collateral received [1]
$
618

$
840

 
 
 
Repurchase agreements:
 
 
Gross amount of recognized liabilities for repurchase agreements
$

$
72

Gross amount of collateral pledged related to repurchase agreements [2]
$

$
73

Gross amount of recognized receivables for reverse repurchase agreements
$
52

$
64

[1]
Cash collateral received is reinvested in fixed maturities, AFS and short-term investments which are included in the Condensed Consolidated Balance Sheets. Amount includes additional securities collateral received of $0 and $3 which are excluded from the Company's Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018, respectively.
[2]
Collateral pledged is included within fixed maturities, AFS and short-term investments in the Company's Condensed Consolidated Balance Sheets.