Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The carrying amounts of derivative instruments, including derivative instruments embedded in FIA contracts, is as follows:

	September 30, 2018		December 31, 2017
Assets:
Derivative investments:
Call options	$	431	$	492
Futures contracts	—		—
Foreign currency forward	1		—
Other invested assets:
Other derivatives and embedded derivatives	17		17
	$	449	$	509

Liabilities:
Contractholder funds:
FIA embedded derivative	$	2,551	$	2,277
Other liabilities:
Preferred shares reimbursement feature embedded derivative	22		23
	$	2,573	$	2,300

FGL's Exposure to Credit Loss on Call Options Held

Information regarding the Company’s exposure to credit loss on the call options it holds is presented in the following table:

		September 30, 2018
Counterparty	Credit Rating (Fitch/Moody's/S&P) (a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
Merrill Lynch	A+/*/A+	$	3,515	$	129	$	89	$	40
Deutsche Bank	A-/A3/BBB+	1,286		46		47		(1		)
Morgan Stanley	*/A1/A+	1,969		66		72		(6		)
Barclay's Bank	A/Baa3/BBB	1,387		65		42		23
Canadian Imperial Bank of Commerce	*/Aa2/A+	2,376		81		82		(1		)
Wells Fargo	A+/A2/A-	1,063		37		37		—
Goldman Sachs	A/A3/BBB+	309		7		8		(1		)
Total		$	11,905	$	431	$	377	$	54

		December 31, 2017
Counterparty	Credit Rating (Fitch/Moody's/S&P) (a)	Notional Amount		Fair Value		Collateral		Net Credit Risk
Merrill Lynch	A/*/A+	$	2,780	$	150	$	118	$	32
Deutsche Bank	A-/A3/A-	1,345		51		55		(4		)
Morgan Stanley	*/A1/A+	1,555		92		101		(9		)
Barclay's Bank	A*+/A1/A	2,090		103		95		8
Canadian Imperial Bank of Commerce	AA-/Aa3/A+	2,807		96		98		(2		)
Total		$	10,577	$	492	$	467	$	25

(a) An * represents credit ratings that were not available.

Derivative Instruments, Gain (Loss) [Table Text Block]

The change in fair value of derivative instruments included in the accompanying Condensed Consolidated Statements of Operations is as follows:

	Three months ended September 30,						Nine months ended September 30,
	2018			2017			2018			2017
				Predecessor						Predecessor
Revenues:
Net investment gains (losses):
Call options	$	153		$	113		$	86		$	299
Futures contracts	8			5			8			10
Foreign currency forward	1			—			1			—
Other derivatives and embedded derivatives	—			1			—			3
Reinsurance related embedded derivatives (a)	(3		)	(8		)	(37		)	(28		)
Total net investment gains (losses)	$	159		$	111		$	58		$	284
Benefits and other changes in policy reserves:
FIA embedded derivatives	$	231		$	185		$	274		$	377
Acquisition and operating expenses, net of deferrals:
Preferred shares reimbursement feature embedded derivative (b)	$	2		$	—		$	1		$	—

(a) Change in fair value of reinsurance related embedded derivatives in the successor period is due to FSRC unaffiliated third party business and the predecessor periods activity is due to the FGL and FSRC reinsurance treaty.

(b) Only applicable to Successor periods.