XML 41 R63.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value of Assets and Liabilities - Assets and liabilities measured at fair value (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Assets      
Fixed income securities $ 21,725 $ 21,400  
Equity securities 1,469 1,325  
Short-term investments 1,191 810  
Other investments:      
Other investments: Free-standing derivatives   1 $ 1
Counterparty and cash collateral netting (10) (8)  
Separate account assets 3,009 2,783  
Derivative asset, fair value $ (10) $ (8)  
% of total assets at fair value 0.00% 0.00%  
Total $ 28,291 $ 27,128  
Liabilities      
Counterparty and cash collateral netting 3 2  
Total liabilities at fair value, Counterparty and cash collateral netting $ 3 $ 2  
% of total liabilities at fair value (0.60%) (0.90%)  
Commitments to invest in limited partnership interests $ 1,063 $ 1,195  
Fair value      
Assets      
Fixed income securities 21,725 21,400  
Equity securities 1,469 1,325  
Short-term investments 1,191 810  
Other investments:      
Other investments: Free-standing derivatives 124 23  
Separate account assets 3,009 2,783  
Total assets at fair value $ 27,518 $ 26,341  
% of total assets at fair value 100.00% 100.00%  
Liabilities      
Contractholder funds: Derivatives embedded in life and annuity contracts $ (427) $ (223)  
Other liabilities: Free-standing derivatives (62) (5)  
Total recurring basis liabilities at fair value $ (489) $ (228)  
% of total liabilities at fair value 100.00% 100.00%  
Limited partnership interests      
Liabilities      
Commitments to invest in limited partnership interests $ 201    
U.S. government and agencies      
Assets      
Fixed income securities 882 $ 773  
U.S. government and agencies | Fair value      
Assets      
Fixed income securities 882 773  
Municipal      
Assets      
Fixed income securities 1,755 2,195  
Municipal | Fair value      
Assets      
Fixed income securities 1,755 2,195  
Corporate - public | Fair value      
Assets      
Fixed income securities 12,802 11,924  
Corporate - privately placed | Fair value      
Assets      
Fixed income securities 5,639 5,663  
Foreign government      
Assets      
Fixed income securities 149 179  
Foreign government | Fair value      
Assets      
Fixed income securities 149 179  
Asset-backed securities      
Assets      
Fixed income securities 317 429  
Asset-backed securities | Fair value      
Assets      
Fixed income securities 317 429  
MBS      
Assets      
Fixed income securities 181 237  
MBS | Fair value      
Assets      
Fixed income securities 181 237  
Quoted prices in active markets for identical assets (Level 1)      
Assets      
Fixed income securities 590 493  
Equity securities 1,340 1,182  
Short-term investments 493 443  
Other investments:      
Other investments: Free-standing derivatives 0 0  
Separate account assets 3,009 2,783  
Total assets at fair value $ 5,432 $ 4,901  
% of total assets at fair value 19.70% 18.60%  
Liabilities      
Contractholder funds: Derivatives embedded in life and annuity contracts $ 0 $ 0  
Other liabilities: Free-standing derivatives 0 0  
Total recurring basis liabilities at fair value $ 0 $ 0  
% of total liabilities at fair value 0.00% 0.00%  
Quoted prices in active markets for identical assets (Level 1) | U.S. government and agencies      
Assets      
Fixed income securities $ 590 $ 493  
Quoted prices in active markets for identical assets (Level 1) | Municipal      
Assets      
Fixed income securities 0 0  
Quoted prices in active markets for identical assets (Level 1) | Corporate - public      
Assets      
Fixed income securities 0 0  
Quoted prices in active markets for identical assets (Level 1) | Corporate - privately placed      
Assets      
Fixed income securities 0 0  
Quoted prices in active markets for identical assets (Level 1) | Foreign government      
Assets      
Fixed income securities 0 0  
Quoted prices in active markets for identical assets (Level 1) | Asset-backed securities      
Assets      
Fixed income securities 0 0  
Quoted prices in active markets for identical assets (Level 1) | MBS      
Assets      
Fixed income securities 0 0  
Significant other observable inputs (Level 2)      
Assets      
Fixed income securities 20,927 20,716  
Equity securities 13 14  
Short-term investments 698 367  
Other investments:      
Other investments: Free-standing derivatives 134 30  
Separate account assets 0 0  
Total assets at fair value $ 21,772 $ 21,127  
% of total assets at fair value 79.10% 80.20%  
Liabilities      
Contractholder funds: Derivatives embedded in life and annuity contracts $ 0 $ 0  
Other liabilities: Free-standing derivatives (65) (7)  
Total recurring basis liabilities at fair value $ (65) $ (7)  
% of total liabilities at fair value 13.30% 3.10%  
Significant other observable inputs (Level 2) | U.S. government and agencies      
Assets      
Fixed income securities $ 292 $ 280  
Significant other observable inputs (Level 2) | Municipal      
Assets      
Fixed income securities 1,715 2,156  
Significant other observable inputs (Level 2) | Corporate - public      
Assets      
Fixed income securities 12,777 11,891  
Significant other observable inputs (Level 2) | Corporate - privately placed      
Assets      
Fixed income securities 5,517 5,566  
Significant other observable inputs (Level 2) | Foreign government      
Assets      
Fixed income securities 149 179  
Significant other observable inputs (Level 2) | Asset-backed securities      
Assets      
Fixed income securities 301 407  
Significant other observable inputs (Level 2) | MBS      
Assets      
Fixed income securities 176 237  
Significant unobservable inputs (Level 3)      
Assets      
Fixed income securities 208 191  
Equity securities 116 129  
Short-term investments 0 0  
Other investments:      
Other investments: Free-standing derivatives 0 1  
Separate account assets 0 0  
Total assets at fair value $ 324 $ 321  
% of total assets at fair value 1.20% 1.20%  
Liabilities      
Contractholder funds: Derivatives embedded in life and annuity contracts $ (427) $ (223)  
Other liabilities: Free-standing derivatives 0 0  
Total recurring basis liabilities at fair value $ (427) $ (223)  
% of total liabilities at fair value 87.30% 97.80%  
Significant unobservable inputs (Level 3) | U.S. government and agencies      
Assets      
Fixed income securities $ 0 $ 0  
Significant unobservable inputs (Level 3) | Municipal      
Assets      
Fixed income securities 40 39  
Significant unobservable inputs (Level 3) | Corporate - public      
Assets      
Fixed income securities 25 33  
Significant unobservable inputs (Level 3) | Corporate - privately placed      
Assets      
Fixed income securities 122 97  
Significant unobservable inputs (Level 3) | Foreign government      
Assets      
Fixed income securities 0 0  
Significant unobservable inputs (Level 3) | Asset-backed securities      
Assets      
Fixed income securities 16 22  
Significant unobservable inputs (Level 3) | MBS      
Assets      
Fixed income securities 5 0  
Fair Value Measured at Net Asset Value Per Share [Member]      
Other investments:      
Investments reported at NAV $ 773 $ 787  
Minimum | Limited partnership interests      
Fair value of assets and liabilities measured on recurring and non-recurring basis      
Useful life 10 years    
Distribution and proceed period 4 years    
Maximum | Limited partnership interests      
Fair value of assets and liabilities measured on recurring and non-recurring basis      
Useful life 12 years    
Distribution and proceed period 9 years