Interest rate swaps: Interest rate swaps are used by the Company primarily to reduce market risks from changes in interest rates and to alter interest rate exposure arising from mismatches between assets and/or liabilities. Interest rate swaps are also used to hedge the interest rate risk associated with the value of assets it owns or in an anticipation of acquiring them. Using interest rate swaps, the Company agrees with another party to exchange, at specified intervals, the difference between fixed rate and floating rate interest payments, calculated by reference to an agreed upon notional principal amount. These transactions are entered into pursuant to master agreements that provide for a single net payment to be made to/from the counterparty at each due date. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships.

Foreign exchange swaps: The Company uses foreign exchange or currency swaps to reduce the risk of change in the value, yield or cash flows associated with certain foreign denominated invested assets. Foreign exchange swaps represent contracts that require the exchange of foreign currency cash flows against U.S. dollar cash flows at regular periods, typically quarterly or semi-annually. The Company utilizes these contracts in qualifying hedging relationships as well as non-qualifying hedging relationships.

Total return swaps: The Company uses total return swaps as a hedge of interest related risks within various Legacy Annuity and Retirement products. Total return swaps are also used as a hedge of other corporate liabilities. Using total return swaps, the Company agrees with another party to exchange, at specified intervals, the difference between the economic performance of assets or a market index and a fixed or variable funding multiplied by reference to an agreed upon notional amount. No cash is exchanged at the onset of the contracts. Cash is paid and received over the life of the contract based upon the terms of the swaps. The Company utilized these contracts in non-qualifying hedging relationships.

Futures: Futures contracts are used to hedge against a decrease in certain equity indices. Such decreases may correlate to a decrease in variable annuity account values which would increase the possibility of the Company incurring an expense for guaranteed benefits in excess of account values. The Company also uses interest rate futures contracts to hedge its exposure to market risks due to changes in interest rates. The Company enters into exchange traded futures with regulated futures commissions that are members of the exchange. The Company also posts initial and variation margins, with the exchange, on a daily basis. The Company utilizes exchange-traded futures in non-qualifying hedging relationships. The Company may also use futures contracts as a hedge against an increase in certain equity indices.

Embedded derivatives: The Company also invests in certain fixed maturity instruments and has issued certain products that contain embedded derivatives for which market value is at least partially determined by, among other things, levels of or changes in domestic and/or foreign interest rates (short-term or long-term), exchange rates, prepayment rates, equity rates or credit ratings/spreads. In addition, the Company has entered into coinsurance with funds withheld arrangements, which contain embedded derivatives.


	September 30, 2022						December 31, 2021
	Notional Amount		Asset Fair Value		Liability Fair Value		Notional Amount		Asset Fair Value		Liability Fair Value
Derivatives: Qualifying for hedge accounting(1)
Fair value hedges:
Foreign exchange contracts	$	82	$	2	$	—	$	94	$	2	$	—

Cash flow hedges:
Interest rate contracts	22		—		—		22		—		—
Foreign exchange contracts	700		126		—		683		16		16
Derivatives: Non-qualifying for hedge accounting(1)
Interest rate contracts	19,370		358		371		13,382		147		209
Foreign exchange contracts	159		7		3		146		1		3
Equity contracts	245		2		6		299		4		2
Credit contracts	177		—		3		135		1		1
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments(2)	N/A		3		—		N/A		12		—
Within products(3)	N/A		—		24		N/A		—		47
Within reinsurance agreements(4)	N/A		109		74		N/A		—		196
Managed custody guarantees(3)	N/A		—		9		N/A		—		1
Total			$	607	$	490			$	183	$	475

Based on the notional amounts, a substantial portion of the Company’s derivative positions was not designated or did not qualify for hedge accounting as part of a hedging relationship as of September 30, 2022 and December 31, 2021. The Company utilizes derivative contracts mainly to hedge exposure to variability in cash flows, interest rate risk, credit risk, foreign exchange risk and equity market risk. The majority of derivatives used by the Company are designated as product hedges, which hedge the exposure arising from insurance liabilities or guarantees embedded in the contracts the Company offers through various product lines. These derivatives do not qualify for hedge accounting as they do not meet the criteria of being "highly effective" as outlined in ASC Topic 815, but do provide an economic hedge, which is in line with the Company’s risk management objectives. The Company also uses derivatives contracts to hedge its exposure to various risks associated with the investment portfolio. The Company does not seek hedge accounting treatment for certain of these derivatives as they generally do not qualify for hedge accounting due to the criteria required under the portfolio hedging rules outlined in ASC Topic 815. The Company also uses credit default swaps coupled with other investments in order to produce the investment characteristics of otherwise permissible investments that do not qualify as effective accounting hedges under ASC Topic 815.


	September 30, 2022
	Notional Amount		Asset Fair Value		Liability Fair Value
Credit contracts	$	177	$	—	$	3
Equity contracts	197		1		6
Foreign exchange contracts	941		135		3
Interest rate contracts	13,439		353		370
			489		382
Counterparty netting(1)			(310)		(310)
Cash collateral netting(1)			(121)		(63)
Securities collateral netting(1)			(11)		(1)
Net receivables/payables			$	47	$	8


	December 31, 2021
	Notional Amount		Asset Fair Value		Liability Fair Value
Credit contracts	$	135	$	1	$	1
Equity contracts	239		4		2
Foreign exchange contracts	923		19		19
Interest rate contracts	12,003		147		209
			171		231
Counterparty netting(1)			(156)		(156)
Cash collateral netting(1)			(12)		(70)
Securities collateral netting(1)			(2)		(2)
Net receivables/payables			$	1	$	3

Under the terms of the OTC Derivative International Swaps and Derivatives Association, Inc. ("ISDA") agreements, the Company may receive from, or deliver to, counterparties collateral to assure that terms of the ISDA agreements will be met with regard to the Credit Support Annex ("CSA"). The terms of the CSA call for the Company to pay interest on any cash received equal to the Federal Funds rate. To the extent cash collateral is received and delivered, it is included in Payables under securities loan and repurchase agreements, including collateral held and Short-term investments under securities loan agreements, including collateral delivered, respectively, on the Condensed Consolidated Balance Sheets and is reinvested in short-term investments. Collateral held is used in accordance with the CSA to satisfy any obligations. Investment grade bonds owned by the Company are the source of noncash collateral posted, which is reported in Securities pledged on the Condensed Consolidated Balance Sheets.

As of September 30, 2022, the Company held $127 and pledged $61 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. As of December 31, 2021, the Company held $17 and pledged $71 of net cash collateral related to OTC derivative contracts and cleared derivative contracts, respectively. In addition, as of September 30, 2022, the Company delivered $149 of securities and held $11 of securities as collateral. As of December 31, 2021, the Company delivered $124 of securities and held $2 of securities as collateral.


	Three Months Ended September 30,
	2022				2021
	Interest Rate Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Foreign Exchange Contracts
Derivatives: Qualifying for hedge accounting
Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Net investment income		Net investment income and Other net gains/(losses)		Net investment income		Net investment income and Other net gains/(losses)
Amount of Gain or (Loss) Recognized in Other Comprehensive Income	$	—	$	64	$	—	$	24
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	—		4		—		3

	Nine Months Ended September 30,
	2022				2021
	Interest Rate Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Foreign Exchange Contracts
Derivatives: Qualifying for hedge accounting
Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Net investment income		Net investment income and Other net gains/(losses)		Net investment income		Net investment income and Other net gains/(losses)
Amount of Gain or (Loss) Recognized in Other Comprehensive Income	$	(2)	$	126	$	(1)	$	36
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income	—		9		—		2


	Three Months Ended September 30,
	2022				2021
	Net investment income		Other net gains/(losses)		Net investment income		Other net gains/(losses)
Total amounts of line items presented in the statement of operations in which the effects of fair value or cash flow hedges are recorded	$	522	$	(111)	$	731	$	(103)
Derivatives: Qualifying for hedge accounting
Fair value hedges:
Foreign exchange contracts:
Hedged items	—		(6)		—		(2)
Derivatives designated as hedging instruments(1)	—		6		—		2
Cash flow hedges:
Foreign exchange contracts:
Gain (loss) reclassified from accumulated other comprehensive income into income	4		—		3		—

	Nine Months Ended September 30,
	2022				2021
	Net investment income		Other net gains/(losses)		Net investment income		Other net gains/(losses)
Total amounts of line items presented in the statement of operations in which the effects of fair value or cash flow hedges are recorded	$	1,733	$	(614)	$	2,101	$	1,602
Derivatives: Qualifying for hedge accounting
Fair value hedges:
Foreign exchange contracts:
Hedged items	—		(13)		—		(3)
Derivatives designated as hedging instruments(1)	—		14		—		3
Cash flow hedges:


Foreign exchange contracts:
Gain (loss) reclassified from accumulated other comprehensive income into income	9		—		7		(5)

(1) For the three months ended September 30, 2022, an immaterial portion of the change in derivative instruments designated and qualifying as fair value hedges was excluded from the assessment of hedge effectiveness and recognized currently in earning. For the nine months ended September 30, 2022, $1 of the change in derivative instruments designated and qualifying as fair value hedges was excluded from the assessment of hedge effectiveness and recognized currently in earning. For the three and nine months ended September 30, 2021, an immaterial portion of the change in derivative instruments designated and qualifying as fair value hedges was excluded from the assessment of hedge effectiveness and recognized currently in earning.


	Location of Gain or (Loss) Recognized in Income on Derivative	Three Months Ended September 30,
		2022		2021
Derivatives: Non-qualifying for hedge accounting
Interest rate contracts	Other net gains (losses)	$	176	$	10
Foreign exchange contracts	Other net gains (losses)	—		—
Equity contracts	Other net gains (losses)	(8)		(1)
Credit contracts	Other net gains (losses)	—		—
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments	Other net gains (losses)	(2)		(1)
Within products	Other net gains (losses)	1		7
Within reinsurance agreements(1)	Policyholder benefits	57		18
Managed custody guarantees	Other net gains (losses)	(6)		(1)
Total		$	218	$	32

	Location of Gain or (Loss) Recognized in Income on Derivative	Nine Months Ended September 30,
		2022		2021
Derivatives: Non-qualifying for hedge accounting
Interest rate contracts	Other net gains (losses)	$	328	$	(13)
Foreign exchange contracts	Other net gains (losses)	(2)		(2)
Equity contracts	Other net gains (losses)	(36)		11
Credit contracts	Other net gains (losses)	(4)		1
Embedded derivatives and Managed custody guarantees:
Within fixed maturity investments	Other net gains (losses)	(8)		(6)
Within products	Other net gains (losses)	23		38
Within reinsurance agreements(1)	Policyholder benefits	233		41
Managed custody guarantees	Other net gains (losses)	(8)		3
Total		$	526	$	73

(1) For the three and nine months ended September 30, 2022, the amount excluded gains (losses) of $(3) and $(2), respectively, from standalone derivatives recognized in Other net gains (losses). For the three and nine months ended September 30, 2021, the amount excluded gains (losses) of $(1) and $3, respectively, from standalone derivatives recognized in Other net gains (losses).