XML 160 R135.htm IDEA: XBRL DOCUMENT v3.20.4
Derivatives Derivatives (Effects on the Consolidated Statement of Operations and Comprehensive Income (Loss)) (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net $ 1,349,000,000 $ 628,000,000 $ 851,000,000
Net investment income 17,117,000,000 18,868,000,000 16,166,000,000
Net investment gains (losses) (110,000,000) 444,000,000 (298,000,000)
Policyholder benefits and claims (41,461,000,000) (41,461,000,000) (42,656,000,000)
Policyholder Account Balance, Interest Expense (5,214,000,000) (6,464,000,000) (4,013,000,000)
Operating Expenses 13,150,000,000 13,689,000,000 13,714,000,000
Other Comprehensive Income (Loss), before Tax 6,262,000,000 14,639,000,000 (8,369,000,000)
Nonperformance Risk [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net (10,000,000) (116,000,000) 133,000,000
Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 (46,000,000)
Net investment income 0 2,000,000 0
Net investment gains (losses) (42,000,000) (71,000,000) 0
Policyholder benefits and claims (39,000,000) (30,000,000) 0
Policyholder Account Balance, Interest Expense 0 (1,000,000) 0
Operating Expenses 0 0 0
Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 33,000,000
Net investment income 40,000,000 20,000,000 16,000,000
Net investment gains (losses) 207,000,000 8,000,000 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 4,000,000 4,000,000 3,000,000
Other Comprehensive Income (Loss), before Tax (286,000,000) 82,000,000 674,000,000
Net Investment Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax 16,000,000 (36,000,000) (125,000,000)
Foreign Exchange Forward [Member] | Net Investment Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax   (32,000,000) (125,000,000)
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax 36,000,000    
Interest Rate Contract [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 21,000,000
Net investment income 36,000,000 23,000,000 20,000,000
Net investment gains (losses) 121,000,000 4,000,000 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 2,000,000 2,000,000 1,000,000
Other Comprehensive Income (Loss), before Tax (159,000,000) (29,000,000) (42,000,000)
Credit forwards [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 1,000,000
Net investment income 0 1,000,000 1,000,000
Net investment gains (losses) 0 0 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Other Comprehensive Income (Loss), before Tax 0 (1,000,000) (2,000,000)
Currency Swap [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 (558,000,000)
Net investment income 4,000,000 (4,000,000) (5,000,000)
Net investment gains (losses) 851,000,000 240,000,000 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 2,000,000 2,000,000 2,000,000
Other Comprehensive Income (Loss), before Tax (857,000,000) (238,000,000) 561,000,000
Derivative [Member] | Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 (58,000,000)
Net investment income 0 0 0
Net investment gains (losses) (47,000,000) (72,000,000) 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Derivative [Member] | Interest rate swaps | Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 (220,000,000)
Net investment income (10,000,000) (3,000,000) 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (360,000,000) (339,000,000) 0
Policyholder Account Balance, Interest Expense 0 (1,000,000) 0
Operating Expenses 0 0 0
Derivative [Member] | Currency Swap [Member] | Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 156,000,000
Net investment income (46,000,000) (55,000,000) 0
Net investment gains (losses) 98,000,000 24,000,000 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Debt Securities [Member] | Interest rate swaps | Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 226,000,000
Net investment income 12,000,000 4,000,000 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (399,000,000) (369,000,000) 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Debt Securities [Member] | Currency Swap [Member] | Fair Value Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 (150,000,000)
Net investment income 44,000,000 56,000,000 0
Net investment gains (losses) (93,000,000) (23,000,000) 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Foreign Currency Gain (Loss) [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 0 0 569,000,000
Net investment income 0 0 0
Net investment gains (losses) (765,000,000) (236,000,000) 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Other Comprehensive Income (Loss), before Tax 0 0 0
Non-derivative [Domain] [Member] | Net Investment Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax (20,000,000) (4,000,000) 0
Accumulated Other Comprehensive Income (Loss) | Credit forwards [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax (102,000,000) 6,000,000 0
Accumulated Other Comprehensive Income (Loss) | Currency Swap [Member] | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax (445,000,000) (278,000,000) 414,000,000
Accumulated Other Comprehensive Income (Loss) | Interest rate swaps | Cash Flow Hedging [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Other Comprehensive Income (Loss), before Tax 1,277,000,000 622,000,000 (257,000,000)
Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 533,000,000 (157,000,000) 467,000,000
Net investment income (34,000,000) (3,000,000) 5,000,000
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (151,000,000) (164,000,000) (48,000,000)
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Foreign Exchange [Member] | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (323,000,000) (346,000,000) 518,000,000
Net investment income 0 0 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (3,000,000) (2,000,000) (6,000,000)
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Credit derivatives — purchased | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (28,000,000) (38,000,000) 6,000,000
Net investment income 0 0 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Credit derivatives — written | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (106,000,000) 248,000,000 (132,000,000)
Net investment income 0 0 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Equity Market Risk [Member] | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (1,151,000,000) (1,339,000,000) 360,000,000
Net investment income (28,000,000) 0 1,000,000
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (203,000,000) (205,000,000) (60,000,000)
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Foreign Currency Gain (Loss) [Member] | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (8,000,000) 55,000,000 (127,000,000)
Net investment income 0 0 0
Net investment gains (losses) 0 0 0
Policyholder benefits and claims 0 0 0
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Interest Rate Risk [Member] | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 2,149,000,000 1,263,000,000 (158,000,000)
Net investment income (6,000,000) (3,000,000) 4,000,000
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (55,000,000) (39,000,000) (6,000,000)
Policyholder Account Balance, Interest Expense 0 0 0
Operating Expenses 0 0 0
Nonoperating Income (Expense) [Member] | Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net 926,000,000 513,000,000 547,000,000
Net investment income 217,000,000 237,000,000 360,000,000
Net investment gains (losses) 0 0 0
Policyholder benefits and claims (190,000,000) (138,000,000) (11,000,000)
Policyholder Account Balance, Interest Expense (152,000,000) (147,000,000) (113,000,000)
Operating Expenses 0 0 (11,000,000)
Other Comprehensive Income (Loss), before Tax 0 0 0
Net Embedded Derivatives      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Gain (Loss) on Derivative, Net (110,000,000) 272,000,000 (150,000,000)
Policyholder benefits and claims 0 0 0
Effects of Derivatives on Consolidated Statements of Operations and Comprehensive Income (Loss) [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Net investment income 223,000,000 256,000,000 381,000,000
Net investment gains (losses) 165,000,000 (63,000,000) 0
Policyholder benefits and claims 0 56,000,000 (59,000,000)
Policyholder Account Balance, Interest Expense 152,000,000 146,000,000 113,000,000
Operating Expenses 4,000,000 4,000,000 (8,000,000)
Other Comprehensive Income (Loss), before Tax $ (270,000,000) $ 46,000,000 $ 549,000,000