VARIABLE LIFE AND ANNUITY CONTRACTS (Tables)

12 Months Ended

Dec. 31, 2018

VARIABLE LIFE AND ANNUITY CONTRACTS

Schedule of Account balances of variable annuity contracts with guarantees were invested in separate account investment

At December 31,
(in millions)		2018		2017
Equity funds	$	43,059	$	48,594
Bond funds		7,231		7,793
Balanced funds		24,100		27,656
Money market funds		787		730
Total	$	75,177	$	84,773

Schedule of details concerning entity's GMDB exposures, by benefit type

At December 31,	2018				2017
		Net Deposits				Net Deposits
		Plus a Minimum		Highest Contract		Plus a Minimum		Highest Contract
(dollars in billions)		Return		Value Attained		Return		Value Attained
Account value	$	89	$	15	$	99	$	17
Net amount at risk		1		1		1		-
Average attained age of contract holders by product		63		68		63		68
Range of guaranteed minimum return rates		0-4.5%				0%-4.5%

Schedule of changes in GMDB liabilities for guarantees on variable contracts reflected in the general account

Years Ended December 31,
(in millions)		2018		2017		2016
Balance, beginning of year	$	352	$	402	$	491
Reserve increase (decrease)		93		(14)		(32)
Benefits paid		(43)		(42)		(57)
Changes in reserves related to unrealized appreciation of investments		(5)		6		-
Balance, end of year	$	397	$	352	$	402