XML 98 R83.htm IDEA: XBRL DOCUMENT v3.20.4
FAIR VALUE MEASUREMENTS - Changes in Investments and Derivatives Carried at Fair Value Classified as Level 3 (Detail) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period $ 810 $ 648
Net investment gains (losses) included in earnings (124) (34)
Unrealized gains (losses) included in other comprehensive income (loss) 38 12
Purchases 306 247
Issuances 0 0
Sales (6) (41)
Settlements (12) (6)
Transfers into Level 3 26 142
Transfers out of Level 3 (17) (158)
Balance, end of period 1,021 810
Change in unrealized gains (losses) still held (139) (33)
Foreign currency swaps    
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]    
Balance, beginning of period [1] 43 80
Net investment gains (losses) included in earnings [1] (139) (33)
Unrealized gains (losses) included in other comprehensive income (loss) [1] (2) (4)
Purchases [1] 0 0
Issuances [1] 0 0
Sales [1] 0 0
Settlements [1] 0 0
Transfers into Level 3 [1] 0 0
Transfers out of Level 3 [1] 0 0
Balance, end of period [1] (98) 43
Change in unrealized gains (losses) still held [1] (139) (33)
Fixed maturity securities | Mortgage- and asset-backed securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 178 177
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 9 1
Purchases 30 0
Issuances 0 0
Sales 0 0
Settlements (2) 0
Transfers into Level 3 9 [2] 0
Transfers out of Level 3 0 0
Balance, end of period 224 178
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Public utilities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 224 109
Net investment gains (losses) included in earnings (1) 0
Unrealized gains (losses) included in other comprehensive income (loss) 19 6
Purchases 174 48
Issuances 0 0
Sales 0 (24)
Settlements (9) (6)
Transfers into Level 3 15 [3] 116 [2]
Transfers out of Level 3 0 (25) [2]
Balance, end of period 422 224
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Banks/financial institutions    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 23 23
Net investment gains (losses) included in earnings 0 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 1
Purchases 1 0
Issuances 0 0
Sales 0 0
Settlements 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 0 (1)
Balance, end of period 24 23
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Other corporate    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 262 213
Net investment gains (losses) included in earnings 0 (1)
Unrealized gains (losses) included in other comprehensive income (loss) 12 8
Purchases 39 165
Issuances 0 0
Sales 0 (17)
Settlements (1) 0
Transfers into Level 3 2 26 [2]
Transfers out of Level 3 [3] (15) (132) [2]
Balance, end of period 299 262
Change in unrealized gains (losses) still held 0 0
Fixed maturity securities | Sovereign and supranational    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 0  
Net investment gains (losses) included in earnings 0  
Unrealized gains (losses) included in other comprehensive income (loss) 0  
Purchases 48  
Issuances 0  
Sales 0  
Settlements 0  
Transfers into Level 3 0  
Transfers out of Level 3 0  
Balance, end of period 48 0
Change in unrealized gains (losses) still held 0  
Equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning of period 80 46
Net investment gains (losses) included in earnings 16 0
Unrealized gains (losses) included in other comprehensive income (loss) 0 0
Purchases 14 34
Issuances 0 0
Sales (6) 0
Settlements 0 0
Transfers into Level 3 0 0
Transfers out of Level 3 (2) 0
Balance, end of period 102 80
Change in unrealized gains (losses) still held $ 0 $ 0
[1] Derivative assets and liabilities are presented net
[2] Transfer due to reclassification of level 3 securities from HTM to AFS
[3] Transfer due to sector classification change