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FAIR VALUE MEASUREMENTS (Details - Changes in Level 3 Recurring Fair Value Measurements) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets $ 31,298 $ 29,070 $ 31,578 $ 30,958
Net Realized and Unrealized Gains (Losses) Included in Income, assets 335 449 673 344
Other Comprehensive Income (Loss), assets 168 1,720 (10) (576)
Purchases, Sales, Issuances and Settlements, Net, assets (931) 74 (1,483) (745)
Gross Transfers In, assets 597 885 1,376 2,817
Gross Transfers Out, assets (606) (306) (1,273) (903)
Divested Businesses 0 (34) 0 (37)
Fair Value End of Period, assets 30,861 31,858 30,861 31,858
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 393 272 421 (60)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 1,672 1,672 1,497 (429)
Liabilities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 10,917 7,935 15,721 6,808
Net realized and unrealized gains (losses) included in income, liabilities 3,332 1,980 (1,347) 2,994
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (243) 143 (408) 256
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 5 0 45 0
Divested Businesses 0 3,673 0 3,673
Fair Value End of Year, liabilities 14,011 13,731 14,011 13,731
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities (2,369) (151) 3,102 (1,075)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Policyholder contract deposits        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 7,617 8,153 9,798 6,910
Net realized and unrealized gains (losses) included in income, liabilities 1,363 1,060 (897) 2,231
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities 40 20 119 92
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities 9,020 9,233 9,020 9,233
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities (1,018) (825) 1,553 (1,709)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Derivative liabilities, net        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities (187) (218) (119) (102)
Net realized and unrealized gains (losses) included in income, liabilities (87) 83 (124) (74)
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (57) 123 (128) 164
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 5 0 45 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities (326) (12) (326) (12)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities 101 11 46 (29)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Interest rate contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 0 0 0 0
Net realized and unrealized gains (losses) included in income, liabilities (2) (1) (2) (1)
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities 1 1 1 1
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities (1) 0 (1) 0
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities 1 0 2 1
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Foreign exchange contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 0 3 (2) (6)
Net realized and unrealized gains (losses) included in income, liabilities 0 1 1 4
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (1) (5) 0 1
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities (1) (1) (1) (1)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities (1) 0 (1) 1
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Equity contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities (222) (143) (151) (151)
Net realized and unrealized gains (losses) included in income, liabilities (71) 36 (97) 10
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (69) 54 (154) 88
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 5 0 45 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities (357) (53) (357) (53)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities 85 (15) 13 (64)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Credit contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 44 (76) 42 62
Net realized and unrealized gains (losses) included in income, liabilities 2 64 7 (60)
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (3) 57 (6) 43
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities 43 45 43 45
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities (1) 9 (1) 6
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Other contracts        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities (9) (2) (8) (7)
Net realized and unrealized gains (losses) included in income, liabilities (16) (17) (33) (27)
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities 15 16 31 31
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Year, liabilities (10) (3) (10) (3)
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities 17 17 33 27
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Fortitude Re funds withheld payable        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, liabilities 3,487 0 6,042 0
Net realized and unrealized gains (losses) included in income, liabilities 2,056 837 (326) 837
Other Comprehensive Income (Loss), liabilities 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, liabilities (226) 0 (399) 0
Gross Transfers In, liabilities 0 0 0 0
Gross Transfers Out, liabilities 0 0 0 0
Divested Businesses 0 3,673 0 3,673
Fair Value End of Year, liabilities 5,317 4,510 5,317 4,510
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, liabilities (1,452) 663 1,503 663
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, liabilities 0 0 0 0
Bonds available for sale        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 26,642 24,924 26,889 25,931
Net Realized and Unrealized Gains (Losses) Included in Income, assets 175 214 369 308
Other Comprehensive Income (Loss), assets 172 1,720 (3) (577)
Purchases, Sales, Issuances and Settlements, Net, assets (782) 59 (1,080) 71
Gross Transfers In, assets 596 860 1,294 2,641
Gross Transfers Out, assets (596) (305) (1,262) (902)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 26,207 27,472 26,207 27,472
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 1,672 1,672 1,497 (429)
Bonds available for sale | Obligations of states, municipalities and political subdivisions        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 1,896 2,102 2,105 2,121
Net Realized and Unrealized Gains (Losses) Included in Income, assets 5 0 8 5
Other Comprehensive Income (Loss), assets 128 254 (31) 199
Purchases, Sales, Issuances and Settlements, Net, assets (65) 20 (118) 157
Gross Transfers In, assets 0 0 0 27
Gross Transfers Out, assets (25) (97) (25) (230)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 1,939 2,279 1,939 2,279
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 244 244 234 193
Bonds available for sale | Non-U.S. governments        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 6 6 5 0
Net Realized and Unrealized Gains (Losses) Included in Income, assets 0 0 0 0
Other Comprehensive Income (Loss), assets (1) 0 (1) 0
Purchases, Sales, Issuances and Settlements, Net, assets 1 5 1 5
Gross Transfers In, assets 4 0 5 6
Gross Transfers Out, assets 0 (6) 0 (6)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 10 5 10 5
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Bonds available for sale | Corporate debt        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 2,570 1,215 2,349 1,663
Net Realized and Unrealized Gains (Losses) Included in Income, assets 14 (1) 13 (68)
Other Comprehensive Income (Loss), assets 17 72 7 (9)
Purchases, Sales, Issuances and Settlements, Net, assets 31 113 208 120
Gross Transfers In, assets 208 519 395 622
Gross Transfers Out, assets (67) (18) (199) (428)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 2,773 1,900 2,773 1,900
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 50 50 (109) 21
Bonds available for sale | Residential mortgage-backed securities (RMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 11,464 11,687 11,694 13,408
Net Realized and Unrealized Gains (Losses) Included in Income, assets 150 208 317 340
Other Comprehensive Income (Loss), assets (39) 947 25 (676)
Purchases, Sales, Issuances and Settlements, Net, assets (460) (171) (891) (394)
Gross Transfers In, assets 0 7 0 26
Gross Transfers Out, assets (30) 0 (60) (26)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 11,085 12,678 11,085 12,678
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 957 957 943 (548)
Bonds available for sale | Commercial mortgage-backed securities (CMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 1,104 1,146 922 1,053
Net Realized and Unrealized Gains (Losses) Included in Income, assets 7 4 16 11
Other Comprehensive Income (Loss), assets 23 15 (33) 34
Purchases, Sales, Issuances and Settlements, Net, assets 85 (16) 258 28
Gross Transfers In, assets 0 0 56 23
Gross Transfers Out, assets (137) 0 (137) 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 1,082 1,149 1,082 1,149
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 18 18 (38) 39
Bonds available for sale | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 9,602 8,768 9,814 7,686
Net Realized and Unrealized Gains (Losses) Included in Income, assets (1) 3 15 20
Other Comprehensive Income (Loss), assets 44 432 30 (125)
Purchases, Sales, Issuances and Settlements, Net, assets (374) 108 (538) 155
Gross Transfers In, assets 384 334 838 1,937
Gross Transfers Out, assets (337) (184) (841) (212)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 9,318 9,461 9,318 9,461
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 403 403 467 (134)
Other bond securities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 2,518 2,569 2,698 3,738
Net Realized and Unrealized Gains (Losses) Included in Income, assets 46 294 37 100
Other Comprehensive Income (Loss), assets 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, assets (126) (117) (303) (1,092)
Gross Transfers In, assets 0 0 6 0
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 2,438 2,746 2,438 2,746
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 271 272 173 (12)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Other bond securities | Residential mortgage-backed securities (RMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 126 149 139 143
Net Realized and Unrealized Gains (Losses) Included in Income, assets 1 14 4 0
Other Comprehensive Income (Loss), assets 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, assets (14) 5 (30) 25
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 113 168 113 168
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 12 13 (86) (1)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Other bond securities | Commercial mortgage-backed securities (CMBS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 46 42 47 50
Net Realized and Unrealized Gains (Losses) Included in Income, assets 0 6 (1) (1)
Other Comprehensive Income (Loss), assets 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, assets 0 (1) (6) (2)
Gross Transfers In, assets 0 0 6 0
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 46 47 46 47
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 6 6 4 (2)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Other bond securities | Collateralized Debt Obligations/Asset Backed Securities (CDO/ABS)        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 2,346 2,378 2,512 3,545
Net Realized and Unrealized Gains (Losses) Included in Income, assets 45 274 34 101
Other Comprehensive Income (Loss), assets 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, assets (112) (121) (267) (1,115)
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 2,279 2,531 2,279 2,531
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 253 253 255 (9)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Equity securities        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 128 19 51 8
Net Realized and Unrealized Gains (Losses) Included in Income, assets 0 0 11 (1)
Other Comprehensive Income (Loss), assets (3) 0 0 1
Purchases, Sales, Issuances and Settlements, Net, assets (112) 0 (123) 10
Gross Transfers In, assets 1 25 76 26
Gross Transfers Out, assets (10) (1) (11) (1)
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 4 43 4 43
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 3 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Other invested assets        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 1,897 1,467 1,827 1,192
Net Realized and Unrealized Gains (Losses) Included in Income, assets 114 (59) 256 (63)
Other Comprehensive Income (Loss), assets (1) 0 (7) 0
Purchases, Sales, Issuances and Settlements, Net, assets 89 78 23 207
Gross Transfers In, assets 0 0 0 150
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 0 0 0
Fair Value End of Period, assets 2,099 1,486 2,099 1,486
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 122 0 245 (48)
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets 0 0 0 0
Other assets        
Fair value assets and liabilities measured on recurring basis, unobservable input reconciliation calculation        
Fair Value Beginning of Period, assets 113 91 113 89
Net Realized and Unrealized Gains (Losses) Included in Income, assets 0 0 0 0
Other Comprehensive Income (Loss), assets 0 0 0 0
Purchases, Sales, Issuances and Settlements, Net, assets 0 54 0 59
Gross Transfers In, assets 0 0 0 0
Gross Transfers Out, assets 0 0 0 0
Divested Businesses 0 (34) 0 (37)
Fair Value End of Period, assets 113 111 113 111
Changes in Unrealized Gains (Losses) Included in Income on Instruments Held at End of Period, assets 0 0 0 0
Changes in Unrealized Gains (Losses) Included in Other Comprehensive Income (Loss) for Recurring Level 3 Instruments Held at End of Period, assets $ 0 $ 0 $ 0 $ 0