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Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities that are measured at fair value on a recurring and non-recurring basis
Assets and liabilities measured at fair value
June 30, 2021
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$4,739 $36 $—  $4,775 
Municipal— 7,631 18  7,649 
Corporate - public— 18,497 20  18,517 
Corporate - privately placed— 9,677 84 9,761 
Foreign government— 1,006 —  1,006 
ABS— 1,056 10 1,066 
MBS— 28 23 51 
Total fixed income securities4,739 37,931 155  42,825 
Equity securities2,248 406 405 
 
3,059 
Short-term investments3,515 2,001 —  5,516 
Other investments— 61 3 $(14)50 
Assets held for sale5,984 25,888 164 (5)32,031 
Total recurring basis assets16,486 66,287 727 (19)83,481 
Non-recurring basis
— — 42  42 
Total assets at fair value$16,486 $66,287 $769 $(19)$83,523 
% of total assets at fair value19.7 %79.4 %0.9 %— %100.0 %
Investments reported at NAV1,483 
Assets held for sale at NAV518 
Total$85,524 
Liabilities     
Other liabilities$— $(36)$— $13 $(23)
Liabilities held for sale— (115)(490)3 (602)
Total recurring basis liabilities— (151)(490)16 (625)
Total liabilities at fair value$— $(151)$(490)$16 $(625)
% of total liabilities at fair value— %24.2 %78.4 %(2.6)%100.0 %
Assets and liabilities measured at fair value
December 31, 2020
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$2,061 $45 $—  $2,106 
Municipal— 7,562 17  7,579 
Corporate - public— 21,885 67  21,952 
Corporate - privately placed— 9,002 63 9,065 
Foreign government— 958 —  958 
ABS— 794 52 846 
MBS— 32 27 59 
Total fixed income securities2,061 40,278 226  42,565 
Equity securities2,468 396 304 
 
3,168 
Short-term investments6,549 223 35 
 
6,807 
Other investments— 29 — $(9)20 
Other assets1 — —  1 
Assets held for sale6,488 23,103 267 (6)29,852 
Total recurring basis assets17,567 64,029 832 (15)82,413 
Total assets at fair value$17,567 $64,029 $832 $(15)$82,413 
% of total assets at fair value21.3 %77.7 %1.0 %— %100.0 %
Investments reported at NAV1,062 
Assets held for sale at NAV762 
Total$84,237 
Liabilities     
Other liabilities$— $(34)$— $18 $(16)
Liabilities held for sale— (119)(516)9 (626)
Total recurring basis liabilities— (153)(516)27 (642)
Total liabilities at fair value$— $(153)$(516)$27 $(642)
% of total liabilities at fair value— %23.8 %80.4 %(4.2)%100.0 %
Summary of quantitative information about the significant unobservable inputs
Quantitative information about the significant unobservable inputs used in Level 3 fair value measurements (1)
($ in millions)Fair valueValuation
technique		Unobservable
input		RangeWeighted
average
June 30, 2021     
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options$(466)Stochastic cash flow modelProjected option cost
1.0 - 4.2%
2.87%
December 31, 2020     
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options$(483)Stochastic cash flow modelProjected option cost
1.0 - 4.2%
2.80%
(1)These were included in the liabilities held for sale as of June 30, 2021 and December 31, 2020.
Schedule of the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended June 30, 2021
Balance as of
 March 31, 2021		Total gains (losses) included in: Transfers Transfers to (from) held for saleBalance as of
 June 30, 2021
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$18 $— $— $— $— $— $— $— $— $— $18 
Corporate - public43 — 1 — (3)— — (21)— — 20 
Corporate - privately placed105 — 2 — (27)1 23 (20)— — 84 
ABS79 — — — (25)— — (4)— (40)10 
MBS23 — — — — — — — — — 23 
Total fixed income securities268 — 3 — (55)1 23 (45)— (40)155 
Equity securities410 8 — — — 8 6 (27)— — 405 
Short-term investments— — — — — — — — — — — 
Other investments3 — — — — — — — — — 3 
Assets held for sale170 1 — — — (9)7 (3)— (2)164 
Total recurring Level 3 assets851 9 3 — (55)— 36 (75)— (42)727 
Liabilities
Liabilities held for sale(463)(24)— — — — — — (8)5 (490)
Total recurring Level 3 liabilities$(463)$(24)$— $— $— $— $— $— $(8)$5 $(490)
Rollforward of Level 3 assets and liabilities held at fair value during the six month period ended June 30, 2021
Balance as of
 December 31, 2020		Total gains (losses) included in: Transfers Transfers to (from) held for saleBalance as of
 June 30, 2021
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$17 $— $1 $— $— $— $3 $— $— $(3)$18 
Corporate - public67 — (2)— — (6)14 (53)— — 20 
Corporate - privately placed63 1 — 10 — 14 16 (20)— — 84 
ABS52 — — — (32)— 34 (4)— (40)10 
MBS27 — — — — — — (4)— — 23 
Total fixed income securities226 1 (1)10 (32)8 67 (81)— (43)155 
Equity securities304 25 — — — 100 10 (34)— — 405 
Short-term investments35 — — — — — — — — (35)— 
Other investments— — — — — — 3 — — — 3 
Assets held for sale267 1 1 3 (1)(108)11 (7)— (3)164 
Total recurring Level 3 assets832 27 — 13 (33)— 91 (122)— (81)727 
Liabilities
Liabilities held for sale(516)31 — — — — — — (16)11 (490)
Total recurring Level 3 liabilities$(516)$31 $— $— $— $— $— $— $(16)$11 $(490)
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended June 30, 2020
Balance as of
 March 31, 2020		Total gains (losses) included in: Transfers Balance
 as of June 30, 2020
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$19 $— $— $— $— $7 $— $— $— $26 
Corporate - public36 — (8)— — 15 — — — 43 
Corporate - privately placed33 — — — — 21 (2)— — 52 
ABS32 2 (2)43 (25)5 (10)— — 45 
MBS35 — — — — 10 (1)— — 44 
Total fixed income securities155 2 (10)43 (25)58 (13)— — 210 
Equity securities239 5 — — — 29 — — — 273 
Short-term investments50 — — — (40)— — — — 10 
Assets held for sale233 9 (3)26 — 25 (8)— (1)281 
Total recurring Level 3 assets677 16 (13)69 (65)112 (21)— (1)774 
Liabilities
Liabilities held for sale(417)(69)— — — — — (7)5 (488)
Total recurring Level 3 liabilities$(417)$(69)$— $— $— $— $— $(7)$5 $(488)
Rollforward of Level 3 assets and liabilities held at fair value during the six months period ended June 30, 2020
Balance as of
 December 31, 2019		Total gains (losses) included in: Transfers Balance as of
 June 30, 2020
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$22 $— $(1)$— $— $7 $(1)$— $(1)$26 
Corporate - public36 — (8)— — 15 — — — 43 
Corporate - privately placed32 — (1)— — 23 (2)— — 52 
ABS49 — (2)55 (49)19 — — (27)45 
MBS35 — — — — 10 (1)— — 44 
Total fixed income securities174 — (12)55 (49)74 (4)— (28)210 
Equity securities255 (12)— — — 30 — — — 273 
Short-term investments25 — — — (25)10 — — — 10 
Assets held for sale284 (3)(3)25 (25)26 (18)— (5)281 
Total recurring Level 3 assets738 (15)(15)80 (99)140 (22)— (33)774 
Liabilities
Liabilities held for sale(462)(21)— — — — — (15)10 (488)
Total recurring Level 3 liabilities$(462)$(21)$— $— $— $— $— $(15)$10 $(488)
Total Level 3 gains (losses) included in net income
Three months ended June 30,Six months ended June 30,
($ in millions)2021202020212020
Net investment income$(5)$— $(6)$(14)
Realized capital gains (losses)13 7 32 2 
Schedule of gains and losses included in net income for Level 3 assets and liabilities still held at the balance sheet date
Valuation changes included in net income and OCI for Level 3 assets and liabilities held as of June 30,
($ in millions)Three months ended June 30,Six months ended June 30,
2021202020212020
Assets    
Fixed income securities:    
Corporate - public$— $— $— $— 
Corporate - privately placed— — — — 
Total fixed income securities— — — — 
Equity securities$5 $5 $22 $(12)
Assets held for sale1 8 1 (4)
Total recurring Level 3 assets$6 $13 $23 $(16)
Liabilities    
Liabilities held for sale$(24)$(69)$31 $(21)
Total recurring Level 3 liabilities(24)(69)31 (21)
Total included in net income$(18)$(56)$54 $(37)
Components of net income
Net investment income$(5)$— $(6)$(14)
Realized capital gains (losses)10 5 28 2 
Total included in net income$5 $5 $22 $(12)
Assets
Municipal$— $— $1 $(1)
Corporate - public1 (7)(2)(7)
Corporate - privately placed2 — — (1)
ABS— (3)— (2)
Assets held for sale— (2)1 (2)
Changes in unrealized net capital gains and losses reported in OCI$3 $(12)$— $(13)
Schedule of carrying values and fair value estimates of financial instruments not carried at fair value
Financial instruments not carried at fair value
($ in millions)June 30, 2021December 31, 2020
Financial assetsFair value levelAmortized cost, net
Fair
value
Amortized cost, net
Fair
value
Mortgage loansLevel 3$786 $831 $746 $792 
Bank loansLevel 31,584 1,606 772 803 
Agent loansLevel 3581 583 — — 
Assets held for saleLevel 33,039 3,239 4,206 4,440 
Financial liabilitiesFair value level
Carrying value (1)
Fair
value
Carrying value (1)
Fair
value
Contractholder funds on investment contractsLevel 3$20 $20 $— $— 
Long-term debtLevel 27,996 9,311 7,825 9,489 
Liability for collateralLevel 21,495 1,495 914 914 
Liabilities held for sale (2)
Level 37,475 8,489 8,130 9,424 
(1)Represents the amounts reported on the Condensed Consolidated Statements of Financial Position.
(2)Includes certain liabilities for collateral measured at Level 2 fair value as of June 30, 2021 and December 31, 2020.