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Schedule V - Valuation Allowances and Qualifying Accounts
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule V — Valuation Allowances and Qualifying Accounts
Schedule V — Valuation Allowances and Qualifying Accounts
($ in millions)Additions
Description
Balance as
of beginning
of period (1)
Charged to costs and expenses
Other
additions
Deductions
Balance
as of end
of period
Year ended December 31, 2021
Fixed income securities $2 $4 $— $— $6 
Mortgage loans67 (61)— — 6 
Bank loans67 (6)— — 61 
Investments136 (63)— — 73 
Premium installment receivable153 274 19 339 107 
Reinsurance recoverables60 15 — 1 74 
Other assets17 9 — — 26 
Assets366 235 19 340 280 
Commitments to fund mortgage loans and bank loans1 — — 1 — 
Liabilities1 — — 1 — 
Total$367 $235 $19 $341 $280 
Valuation allowance for deferred tax assets$— $— $38 $14 $24 
Year ended December 31, 2020
Fixed income securities$— $2 $— $— $2 
Mortgage loans (2)
45 39 — 17 67 
Bank loans (2)
53 28 — 14 67 
Investments98 69 — 31 136 
Premium installment receivable91 223 — 161 153 
Reinsurance recoverables61 (1)— — 60 
Other assets15 2 — — 17 
Assets265 293 — 192 366 
Commitments to fund mortgage loans and bank loans3 — — 2 1 
Liabilities3 — — 2 1 
Total$268 $293 $— $194 $367 
Year ended December 31, 2019
Mortgage loans (2)
$3 $— $— $— $3 
Premium installment receivable77 137 — 124 90 
Reinsurance recoverables$65 $(5)$— $— $60 
(1)Effective January 1, 2020, the Company adopted the measurement of credit losses on financial instruments accounting standard that primarily affected mortgage loans, bank loans and reinsurance recoverables. After consideration of existing valuation allowances maintained prior to adopting the new guidance, the Company increased its valuation allowances for credit losses at January 1, 2020 to conform to the new requirements.
(2)Includes credit loss allowance for investments that are classified as held for sale as of December 31, 2020 and 2019.