XML 60 R49.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value Measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Detail) - USD ($)
$ in Millions
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value $ 86,712   $ 85,488      
Equity securities, at fair value 2,394   812      
Short-term investments 4,003   4,291      
Other Investments 5,923   6,062      
Securities lending collateral 1,832   994      
U.S. Treasury / Agency            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 2,875   3,283      
Non-U.S.            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 24,607   23,707      
Corporate and asset-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 33,917   31,791      
Mortgage-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 18,198   19,192      
Municipal            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 7,115   7,515      
Investment Funds Limited Partnerships Partially Owned Investment Companies Fair Value [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Other Investments 4,853   4,921      
Other Investments [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Other Investments 90   95      
Policy Loans [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Other Investments 226          
Fair Value, Recurring [Member] | Level 1            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 2,316   2,664      
Equity securities, at fair value 2,329   728      
Short-term investments 2,707   2,803      
Other Investments 361 [1]   412 [2]      
Securities lending collateral 0   0      
Investment derivative instruments, assets 19   24      
Other Derivative Instruments Fair Value 1   2      
Separate Account Asset 3,394   3,437      
Total assets measured at fair value 11,127 [1]   10,070 [2]      
Investment derivative instruments, liabilities 96   93      
Other derivative instruments, liability     13      
Liabilities Related to Investment Contracts, Fair Value Disclosure 96   106      
Fair Value, Recurring [Member] | Level 1 | U.S. Treasury / Agency            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 2,316   2,664      
Fair Value, Recurring [Member] | Level 1 | Non-U.S.            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Level 1 | Corporate and asset-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Level 1 | Mortgage-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Level 1 | Municipal            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Level 2            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 82,498   80,864      
Equity securities, at fair value 1   15      
Short-term investments 1,294   1,482      
Other Investments 383 [1]   377 [2]      
Securities lending collateral 1,832   994      
Investment derivative instruments, assets 0   0      
Other Derivative Instruments Fair Value 0   0      
Separate Account Asset 132   136      
Total assets measured at fair value 86,140 [1]   83,868 [2]      
Investment derivative instruments, liabilities 0   0      
Other derivative instruments, liability     0      
Liabilities Related to Investment Contracts, Fair Value Disclosure 0   0      
Fair Value, Recurring [Member] | Level 2 | U.S. Treasury / Agency            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 559   619      
Fair Value, Recurring [Member] | Level 2 | Non-U.S.            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 24,138   23,258      
Fair Value, Recurring [Member] | Level 2 | Corporate and asset-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 32,548   30,340      
Fair Value, Recurring [Member] | Level 2 | Mortgage-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 18,138   19,132      
Fair Value, Recurring [Member] | Level 2 | Municipal            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 7,115   7,515      
Fair Value, Recurring [Member] | Level 3            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 1,898   1,960      
Equity securities, at fair value 64   69      
Short-term investments 2   6      
Other Investments 10 [1]   10 [2]      
Securities lending collateral 0   0      
Investment derivative instruments, assets 0   0      
Other Derivative Instruments Fair Value 0   0      
Separate Account Asset 0   0      
Total assets measured at fair value 1,974 [1]   2,045 [2]      
Investment derivative instruments, liabilities 0   0      
Other derivative instruments, liability     0      
Liabilities Related to Investment Contracts, Fair Value Disclosure 928   456      
Fair Value, Recurring [Member] | Level 3 | U.S. Treasury / Agency            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Level 3 | Non-U.S.            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 469   449      
Fair Value, Recurring [Member] | Level 3 | Corporate and asset-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 1,369   1,451      
Fair Value, Recurring [Member] | Level 3 | Mortgage-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 60   60      
Fair Value, Recurring [Member] | Level 3 | Municipal            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 0   0      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 86,712   85,488      
Equity securities, at fair value 2,394   812      
Short-term investments 4,003   4,291      
Other Investments 754 [1]   799 [2]      
Securities lending collateral 1,832   994      
Investment derivative instruments, assets 19   24      
Other Derivative Instruments Fair Value 1   2      
Separate Account Asset 3,526   3,573      
Total assets measured at fair value 99,241 [1]   95,983 [2]      
Investment derivative instruments, liabilities 96   93      
Other derivative instruments, liability     13      
Liabilities Related to Investment Contracts, Fair Value Disclosure 1,024   562      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | U.S. Treasury / Agency            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 2,875   3,283      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Non-U.S.            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 24,607   23,707      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Corporate and asset-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 33,917   31,791      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Mortgage-backed securities            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 18,198   19,192      
Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member] | Municipal            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Available for sale, Fair Value 7,115   7,515      
Guaranteed Minimum Income Benefit [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value 928 $ 1,141 456 $ 403 $ 338 $ 452
Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 1            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value 0 [3]   0 [4]      
Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 2            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value 0 [3]   0 [4]      
Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Level 3            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value [5] 928   456 [4]      
Guaranteed Minimum Income Benefit [Member] | Fair Value, Recurring [Member] | Estimate of Fair Value Measurement [Member]            
Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items]            
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value $ 928 [3]   $ 456 [4]      
[1] Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,853 million, policy loans of $226 million and other investments of $90 million at June 30, 2020 measured using NAV as a practical expedient.
[2] Excluded from the table above are partially-owned investments, investment funds, and limited partnerships of $4,921 million and other investments of $95 million at December 31, 2019 measured using NAV as a practical expedient.
[3] Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.
[4] Our GLB reinsurance product meets the definition of a derivative instrument for accounting purposes and is accordingly carried at fair value. Excluded from the table above is the portion of the GLB derivative liability classified as Future policy benefits in the Consolidated balance sheets.
[5] The weighted average lapse and annuitization rates are determined by weighting each treaty's rates by the GLB contracts fair value.