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Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of December 31, 2021 and 2020 (dollars in millions):
 December 31, 2021December 31, 2020
 Primary Underlying RiskNotionalCarrying Value/Fair ValueNotionalCarrying Value/Fair Value
 AmountAssetsLiabilitiesAmountAssetsLiabilities
Derivatives not designated as hedging instruments:
Interest rate swapsInterest rate$1,273 $66 $1 $1,084 $93 $1 
Financial futuresEquity240 — — 258 — — 
Foreign currency swapsForeign currency150 1 — 150 — 18 
Foreign currency forwardsForeign currency395 2 4 347 4 2 
CPI swapsCPI563 34 7 612 11 19 
Credit default swapsCredit1,321 29 1 1,517 13 — 
Equity optionsEquity472 29 — 395 29 — 
Synthetic GICsInterest rate16,143 — — 16,644 — — 
Embedded derivatives in:
Modco or funds withheld arrangements— 227 62 — 58 — 
Indexed annuity products— — 693 — — 752 
Variable annuity products— — 162 — — 155 
Total non-hedging derivatives20,557 388 930 21,007 208 947 
Derivatives designated as hedging instruments:
Interest rate swapsForeign currency/Interest rate941 4 33 802 3 24 
Foreign currency swapsForeign currency153 1 — 234 8 1 
Foreign currency forwardsForeign currency1,320 14 11 1,255 10 15 
Forward bond purchase commitmentsInterest rate545 14 1 — — — 
Total hedging derivatives2,959 33 45 2,291 21 40 
Total derivatives$23,516 $421 $975 $23,298 $229 $987 
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] The gain or loss on the hedged item attributable to a change in foreign currency and the offsetting gain or loss on the related foreign currency swaps for the years ended December 31, 2021, 2020 and 2019 were (dollars in millions):
Type of Fair Value HedgeHedged ItemGains (Losses) Recognized for DerivativesGains (Losses) Recognized for Hedged Items
Investment Related Gains (Losses)
For the Year Ended December 31, 2021:
Foreign currency swapsForeign-denominated fixed maturity securities$(4)$6 
For the Year Ended December 31, 2020:
Foreign currency swapsForeign-denominated fixed maturity securities$8 $(10)
For the Year Ended December 31, 2019:
Foreign currency swapsForeign-denominated fixed maturity securities$(4)$— 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the components of AOCI, before income tax, and the consolidated income statement classification where the gain or loss is recognized related to cash flow hedges for the years ended December 31, 2021, 2020 and 2019 (dollars in millions):
Amounts Included in AOCI
Balance December 31, 2018$9 
Gains (losses) deferred in other comprehensive income (loss)(34)
Amounts reclassified to investment income— 
Amounts reclassified to interest expense(1)
Balance December 31, 2019(26)
Gains (losses) deferred in other comprehensive income (loss)(27)
Amounts reclassified to investment income— 
Amounts reclassified to interest expense4 
Balance December 31, 2020(49)
Gains (losses) deferred in other comprehensive income (loss)20 
Amounts reclassified to investment income— 
Amounts reclassified to interest expense7 
Balance December 31, 2021$(22)
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the effect of derivatives in cash flow hedging relationships on the consolidated statements of income and the consolidated statements of stockholders’ equity for the years ended December 31, 2021, 2020 and 2019 (dollars in millions):
Derivative TypeGains (Losses) Deferred in OCIGains (Losses) Reclassified into Income from AOCI
For the year ended December 31, 2021:Investment Related Gains (Losses)Investment IncomeInterest Expense
Interest rate$28 $— $— $(7)
Foreign currency/Interest rate(8)— — — 
Total$20 $— $— $(7)
For the year ended December 31, 2020:
Interest rate$(33)$— $— $(4)
Foreign currency/Interest rate6 — — — 
Total$(27)$— $— $(4)
For the year ended December 31, 2019:
Interest rate$(32)$— $— $1 
Foreign currency/Interest rate(2)— — — 
Total$(34)$— $— $1 
Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block] The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges and the gains (losses) deferred in OCI for the years ended December 31, 2021, 2020 and 2019 (dollars in millions):
 Derivative Gains (Losses) Deferred in OCI
 For the years ended December 31,
Type of NIFO Hedge202120202019
Foreign currency swaps$(2)$1 $(9)
Foreign currency forwards— (30)(24)
Total$(2)$(29)$(33)
Derivative Instruments Gain Loss By Income Statement Location [Table Text Block]
A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s consolidated statements of income for the years ended December 31, 2021, 2020 and 2019 is as follows (dollars in millions):
  
 Gains (Losses) for the years ended December 31,
Type of Non-hedging DerivativeIncome Statement
Location of Gains (Losses)		202120202019
Interest rate swapsInvestment related gains (losses), net$(34)$76 $65 
Financial futuresInvestment related gains (losses), net(24)(47)(46)
Foreign currency swapsInvestment related gains (losses), net20 (7)— 
Foreign currency forwardsInvestment related gains (losses), net(20)5 1 
Consumer price index swapsInvestment related gains (losses), net46 16 (18)
Credit default swapsInvestment related gains (losses), net33 16 30 
Equity optionsInvestment related gains (losses), net(33)— (40)
Longevity swapsOther revenues— — 13 
Mortality swapsOther revenues— — (1)
Subtotal(12)59 4 
Embedded derivatives in:
Modco or funds withheld arrangementsInvestment related gains (losses), net107 (62)11 
Indexed annuity productsInterest credited10 (30)(57)
Variable annuity productsInvestment related gains (losses), net(7)8 5 
Total non-hedging derivatives$98 $(25)$(37)
Disclosure Of Credit Derivatives [Table Text Block]
The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company as of December 31, 2021 and 2020 (dollars in millions):
 20212020
Rating Agency Designation of Referenced Credit Obligations(1)
Estimated Fair
Value of Credit
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps(2)
Weighted
Average
Years to
Maturity(3)
Estimated Fair
Value of Credit
Default Swaps
Maximum
Amount of Future
Payments under
Credit Default
Swaps(2)
Weighted
Average
Years to
Maturity(3)
AAA/AA+/AA/AA-/A+/A/A-
Single name credit default swaps$28 $600 14.2$11 $287 15.0
Subtotal28 600 14.211 287 15.0
BBB+/BBB/BBB-
Single name credit default swaps1 141 2.42 232 1.6
Credit default swaps referencing indices— 565 5.1— 988 3.9
Subtotal1 706 4.62 1,220 3.5
BB+/BB/BB-
Single name credit default swaps(1)15 3.5— 10 0.7
Subtotal(1)15 3.5— 10 0.7
Total$28 $1,321 9.0$13 $1,517 5.6
(1)The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).
(2)Assumes the value of the referenced credit obligations is zero.
(3)The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.
Offsetting Assets [Table Text Block]
The following table provides information relating to the netting of the Company’s derivative instruments as of December 31, 2021 and December 31, 2020 (dollars in millions):
Gross Amounts   RecognizedGross Amounts
Offset in the
Balance Sheet		Net Amounts
Presented in the
Balance Sheet
Financial Instruments/Collateral (1)
Net Amount
December 31, 2021:
Derivative assets$194 $(19)$175 $(175)$— 
Derivative liabilities58 (19)39 (39)$— 
December 31, 2020:
Derivative assets$171 $(31)$140 $(128)$12 
Derivative liabilities80 (31)49 (193)(144)
(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.
Offsetting Liabilities [Table Text Block]
The following table provides information relating to the netting of the Company’s derivative instruments as of December 31, 2021 and December 31, 2020 (dollars in millions):
Gross Amounts   RecognizedGross Amounts
Offset in the
Balance Sheet		Net Amounts
Presented in the
Balance Sheet
Financial Instruments/Collateral (1)
Net Amount
December 31, 2021:
Derivative assets$194 $(19)$175 $(175)$— 
Derivative liabilities58 (19)39 (39)$— 
December 31, 2020:
Derivative assets$171 $(31)$140 $(128)$12 
Derivative liabilities80 (31)49 (193)(144)
(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.