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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral.
 March 31, 2021December 31, 2020
Primary Underlying Risk/Instrument TypeGross
Notional		Fair ValueGross
Notional		Fair Value
AssetsLiabilitiesAssetsLiabilities
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Currency/Interest Rate
Foreign Currency Swaps$1,403,565 $24,141 $(71,345)$1,376,290 $23,167 $(82,625)
Total Derivatives Designated as Hedge Accounting Instruments$1,403,565 $24,141 $(71,345)$1,376,290 $23,167 $(82,625)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate
Interest Rate Futures$4,713,300 $3,401 $(7,564)$4,597,200 $2,755 $(1,621)
Interest Rate Swaps154,911,591 6,599,563 (12,720,544)131,129,200 12,448,036 (9,540,941)
Interest Rate Options10,148,000 111,391 (166,887)10,198,000 608,538 (178,563)
Interest Rate Forwards505,000 3,337 (24,254)75,000 464 0 
Foreign Currency
Foreign Currency Forwards36,228 200 (100)34,988 4 (557)
Currency/Interest Rate
Foreign Currency Swaps253,453 7,818 (7,457)228,117 7,939 (8,440)
Credit
Credit Default Swaps 1,095,000 25,852 (19)1,574,173 38,875 (52)
Equity
Equity Futures4,459,416 20,678 (2,374)5,558,882 9,424 (24,688)
Total Return Swaps19,541,904 121,378 (450,633)22,121,729 62,362 (1,162,907)
Equity Options41,210,913 508,706 (855,838)23,856,379 1,617,672 (952,452)
Total Derivatives Not Qualifying as Hedge Accounting Instruments$236,874,805 $7,402,324 $(14,235,670)$199,373,668 $14,796,069 $(11,870,221)
Total Derivatives(1)(2)$238,278,370 $7,426,465 $(14,307,015)$200,749,958 $14,819,236 $(11,952,846)

(1)Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $10,512 million and $17,314 million as of March 31, 2021 and December 31, 2020, respectively included in “Future policy benefits” and $986 million and $580 million as of March 31, 2021 and December 31, 2020, respectively included in “Policyholders’ account balances". Other assets included $63 million and $54 million as of March 31, 2021 and December 31, 2020, respectively. Other liabilities included $21 million and $35 million as of March 31, 2021 and December 31, 2020, respectively. The fair value of the related reinsurance, included in "Reinsurance recoverables" and/or "Reinsurance payables" was an asset of $332 million and $471 million as of March 31, 2021 and December 31, 2020, respectively.
(2)Recorded in “Other invested assets”, “Other liabilities”, and "Payables to parent and affiliates" on the Unaudited Interim Statements of Financial Position.
Offsetting of Financial Assets
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Statements of Financial Position.
 March 31, 2021
 Gross
Amounts of
Recognized
Financial
Instruments		Gross Amounts
Offset in the
 Statements of
Financial
Position
Net
Amounts
Presented in
the Statements
of Financial
Position
Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives(1)$7,426,465 $(7,346,312)$80,153 $0 $80,153 
Securities purchased under agreements to resell260,000 0 260,000 (260,000)0 
Total Assets$7,686,465 $(7,346,312)$340,153 $(260,000)$80,153 
Offsetting of Financial Liabilities:
Derivatives(1)$14,307,015 $(14,099,180)$207,835 $(207,835)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$14,307,015 $(14,099,180)$207,835 $(207,835)$0 
 December 31, 2020
 Gross
Amounts of
Recognized
Financial
Instruments		Gross Amounts
Offset in the
Statements of
Financial
Position
Net
Amounts
Presented in
the Statements
of Financial
Position
Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives(1)$14,819,236 $(14,624,985)$194,251 $0 $194,251 
Securities purchased under agreements to resell150,000 0 150,000 (150,000)0 
Total Assets$14,969,236 $(14,624,985)$344,251 $(150,000)$194,251 
Offsetting of Financial Liabilities:
Derivatives(1)$11,952,846 $(11,936,059)$16,787 $(16,787)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$11,952,846 $(11,936,059)$16,787 $(16,787)$0 
(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty
Offsetting of Financial Liabilities
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Statements of Financial Position.
 March 31, 2021
 Gross
Amounts of
Recognized
Financial
Instruments		Gross Amounts
Offset in the
 Statements of
Financial
Position
Net
Amounts
Presented in
the Statements
of Financial
Position
Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives(1)$7,426,465 $(7,346,312)$80,153 $0 $80,153 
Securities purchased under agreements to resell260,000 0 260,000 (260,000)0 
Total Assets$7,686,465 $(7,346,312)$340,153 $(260,000)$80,153 
Offsetting of Financial Liabilities:
Derivatives(1)$14,307,015 $(14,099,180)$207,835 $(207,835)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$14,307,015 $(14,099,180)$207,835 $(207,835)$0 
 December 31, 2020
 Gross
Amounts of
Recognized
Financial
Instruments		Gross Amounts
Offset in the
Statements of
Financial
Position
Net
Amounts
Presented in
the Statements
of Financial
Position
Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives(1)$14,819,236 $(14,624,985)$194,251 $0 $194,251 
Securities purchased under agreements to resell150,000 0 150,000 (150,000)0 
Total Assets$14,969,236 $(14,624,985)$344,251 $(150,000)$194,251 
Offsetting of Financial Liabilities:
Derivatives(1)$11,952,846 $(11,936,059)$16,787 $(16,787)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$11,952,846 $(11,936,059)$16,787 $(16,787)$0 
(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship.
Three Months Ended March 31, 2021
 Realized
Investment
Gains (Losses)		Net
Investment
Income		Other Income (Loss)AOCI(1)
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Currency/Interest Rate$1,405 $4,339 $6,572 $2,997 
Total cash flow hedges1,405 4,339 6,572 2,997 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate(3,744,843)0 0 0 
Currency45 0 0 0 
Currency/Interest Rate3,227 0 (16)0 
Credit2,323 0 0 0 
Equity(929,620)0 0 0 
Embedded Derivatives6,713,023 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments:2,044,155 0 (16)0 
Total$2,045,560 $4,339 $6,556 $2,997 

Three Months Ended March 31, 2020
 Realized
Investment
Gains (Losses)		Net
Investment
Income		Other Income (Loss)AOCI(1)
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Currency/Interest Rate$1,855 $4,259 $16,943 $102,856 
Total cash flow hedges1,855 4,259 16,943 102,856 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate7,049,901 0 0 0 
Currency1,030 0 0 0 
Currency/Interest Rate41,849 0 72 0 
Credit(7,157)0 0 0 
Equity5,015,288 0 0 0 
Embedded Derivatives(12,867,306)0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments:(766,395)0 72 0 
Total$(764,540)$4,259 $17,015 $102,856 

(1)Net change in AOCI.
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income(Loss) Before Taxes
Presented below is a rollforward of current period cash flow hedges in AOCI before taxes:
 (in thousands)
Balance, December 31, 2020$(43,000)
Amount recorded in AOCI
Currency/Interest Rate15,313 
Total amount recorded in AOCI15,313 
Amount reclassified from AOCI to income
Currency/Interest Rate(12,316)
Total amount reclassified from AOCI to income(12,316)
Balance, March 31, 2021$(40,003)