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FAIR VALUE OF ASSETS AND LIABILITIES - Assets and Liabilities by Hierarchy Level (Details) - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Fixed Maturity Securities    
Asset-backed securities [1] $ 5,565 $ 8,771
Fixed maturities, trading 0 27
Equity securities [1] 170 322
Short-term investments 37 875
Other invested assets 430 106
Other assets 119 954
Separate account assets 23,016 32,267
Liabilities:    
Policyholders' account balances 0 11,750
Other liabilities 848 1,192
Embedded derivatives in an asset position   62
Embedded derivatives in a liability position   4,122
U.S Treasury securities and obligations of U.S. government authorities and agencies    
Fixed Maturity Securities    
Asset-backed securities   727
Obligations of U.S. states and their political subdivisions    
Fixed Maturity Securities    
Asset-backed securities   296
U.S. corporate public securities    
Fixed Maturity Securities    
Asset-backed securities   2,461
U.S. corporate private securities    
Fixed Maturity Securities    
Asset-backed securities   1,644
Foreign corporate public securities    
Fixed Maturity Securities    
Asset-backed securities   795
Foreign corporate private securities    
Fixed Maturity Securities    
Asset-backed securities   891
Asset-backed securities    
Fixed Maturity Securities    
Asset-backed securities   1,062
Commercial mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities   706
Residential mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities   75
Recurring    
Fixed Maturity Securities    
Asset-backed securities 5,565 8,771
Fixed maturities, trading   27
Equity securities 170 322
Short-term investments 37 795
Cash and cash equivalents 1,276 1,739
Other invested assets 336 3
Other invested assets, Netting (840) (1,475)
Deposit asset 859  
Other assets   400
Reinsurance recoverables 220 1,881
Net modified coinsurance receivable 70  
Subtotal excluding separate account assets 8,533 13,938
Separate account assets 23,016 32,267
Total assets 31,549 46,205
Liabilities:    
Future policy benefits   4,060
Policyholders' account balances   2,041
Liabilities, Netting (956) (1,153)
Payables to parent and affiliates   215
Retained business 6,304  
Other liabilities 285 0
Total liabilities 6,589 6,316
Recurring | U.S Treasury securities and obligations of U.S. government authorities and agencies    
Fixed Maturity Securities    
Asset-backed securities 643 727
Recurring | Obligations of U.S. states and their political subdivisions    
Fixed Maturity Securities    
Asset-backed securities 167 296
Recurring | Foreign government bonds    
Fixed Maturity Securities    
Asset-backed securities 15 114
Recurring | U.S. corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 2,681 2,460
Recurring | U.S. corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 693 1,645
Recurring | Foreign corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 203 795
Recurring | Foreign corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 306 892
Recurring | Asset-backed securities    
Fixed Maturity Securities    
Asset-backed securities 662 1,062
Recurring | Commercial mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 162 706
Recurring | Residential mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 33 74
Recurring | Level 1    
Fixed Maturity Securities    
Asset-backed securities 0 0
Fixed maturities, trading   0
Equity securities 170 321
Short-term investments 37 519
Cash and cash equivalents 519 372
Other invested assets 180 1
Deposit asset 0  
Other assets   0
Reinsurance recoverables 0 0
Net modified coinsurance receivable 0  
Subtotal excluding separate account assets 906 1,213
Separate account assets 0 0
Total assets 906 1,213
Liabilities:    
Future policy benefits   0
Policyholders' account balances   0
Payables to parent and affiliates   0
Retained business 0  
Other liabilities 0 1
Total liabilities 0 1
Recurring | Level 1 | U.S Treasury securities and obligations of U.S. government authorities and agencies    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Obligations of U.S. states and their political subdivisions    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Foreign government bonds    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | U.S. corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | U.S. corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Foreign corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Foreign corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Asset-backed securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Commercial mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 1 | Residential mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 2    
Fixed Maturity Securities    
Asset-backed securities 5,044 8,506
Fixed maturities, trading   27
Equity securities 0 0
Short-term investments 0 263
Cash and cash equivalents 757 1,359
Other invested assets 925 1,477
Deposit asset 0  
Reinsurance recoverables 0  
Net modified coinsurance receivable 0  
Subtotal excluding separate account assets 6,726 11,632
Separate account assets 23,016 32,267
Total assets 29,742 43,899
Liabilities:    
Future policy benefits   0
Policyholders' account balances   0
Payables to parent and affiliates   1,367
Retained business 0  
Other liabilities 1,241 0
Total liabilities 1,241 1,367
Recurring | Level 2 | U.S Treasury securities and obligations of U.S. government authorities and agencies    
Fixed Maturity Securities    
Asset-backed securities 643 727
Recurring | Level 2 | Obligations of U.S. states and their political subdivisions    
Fixed Maturity Securities    
Asset-backed securities 167 296
Recurring | Level 2 | Foreign government bonds    
Fixed Maturity Securities    
Asset-backed securities 15 114
Recurring | Level 2 | U.S. corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 2,681 2,460
Recurring | Level 2 | U.S. corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 359 1,556
Recurring | Level 2 | Foreign corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 203 795
Recurring | Level 2 | Foreign corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 274 791
Recurring | Level 2 | Asset-backed securities    
Fixed Maturity Securities    
Asset-backed securities 507 1,039
Recurring | Level 2 | Commercial mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 162 674
Recurring | Level 2 | Residential mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 33 54
Recurring | Level 3    
Fixed Maturity Securities    
Asset-backed securities 521 265
Fixed maturities, trading   0
Equity securities 0 1
Short-term investments 0 13
Cash and cash equivalents 0 8
Other invested assets 71 0
Deposit asset 859  
Other assets   400
Reinsurance recoverables 220 1,881
Net modified coinsurance receivable 70  
Subtotal excluding separate account assets 1,741 2,568
Separate account assets 0 0
Total assets 1,741 2,568
Liabilities:    
Future policy benefits   4,060
Policyholders' account balances   2,041
Payables to parent and affiliates   0
Retained business 6,304  
Other liabilities 0 0
Total liabilities 6,304 6,101
Recurring | Level 3 | U.S Treasury securities and obligations of U.S. government authorities and agencies    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 3 | Obligations of U.S. states and their political subdivisions    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 3 | Foreign government bonds    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 3 | U.S. corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 3 | U.S. corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 334 89
Recurring | Level 3 | Foreign corporate public securities    
Fixed Maturity Securities    
Asset-backed securities 0 0
Recurring | Level 3 | Foreign corporate private securities    
Fixed Maturity Securities    
Asset-backed securities 32 101
Recurring | Level 3 | Asset-backed securities    
Fixed Maturity Securities    
Asset-backed securities 155 23
Recurring | Level 3 | Commercial mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 0 32
Recurring | Level 3 | Residential mortgage-backed securities    
Fixed Maturity Securities    
Asset-backed securities 0 20
Recurring | Fair Value Measured at Net Asset Value Per Share    
Liabilities:    
Other invested assets excluded from fair value hierarchy 64 10
Other | Recurring    
Fixed Maturity Securities    
Other invested assets, Netting (840) (1,475)
Subtotal excluding separate account assets 840 1,475
Netting | Recurring    
Liabilities:    
Liabilities, Netting   (1,152)
Other liabilities | Recurring    
Liabilities:    
Liabilities, Netting $ (956) $ (1)
[1] As of April 1, 2022 we have elected the fair value option for these financial statement line items. See Note 2 for further discussion.