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Certain Long-Duration Contracts With Guarantees (Tables)
12 Months Ended
Dec. 31, 2021
Long-Duration Contracts, Assumptions Supporting Guarantee Obligations [Abstract]  
Schedule of Net Amount of Risk by Product and Guarantee As of December 31, 2021 and 2020, the Company had the following guarantees associated with these contracts, by product and guarantee type: 
 December 31, 2021December 31, 2020
In the Event of
Death(1)
At Annuitization/
Accumulation(1)(2)
In the Event of
Death(1)
At Annuitization/
Accumulation(1)(2)
(in thousands)
Annuity Contracts
Return of net deposits
Account value$103,862,788 N/A$104,700,706 N/A
Net amount at risk$27,872 N/A$18,336 N/A
Average attained age of contractholders69 yearsN/A68 yearsN/A
Minimum return or contract value
Account value$19,634,387 $113,689,139 $19,949,435 $114,832,594 
Net amount at risk$1,124,519 $1,653,394 $1,272,073 $2,042,199 
Average attained age of contractholders72 years69 years71 years68 years
Average period remaining until earliest expected annuitizationN/A0 yearsN/A0 years
(1)Balances are gross of reinsurance.
(2)Includes income and withdrawal benefits.
December 31, 2021December 31, 2020
In the Event of Death(1)(2)
 (in thousands)
Variable Life, Variable Universal Life and Universal Life Contracts
Separate account value$4,473,502 $4,087,733 
General account value$10,558,009 $9,920,732 
Net amount at risk$149,872,088 $146,158,176 
Average attained age of contractholders 58 years 56 years
(1)Balances are gross of reinsurance.
(2)Excludes assumed reinsurance of GUL business from Prudential Insurance in connection with the acquisition of The Hartford Life Business that is retroceded 100% to PAR U.
Schedule of Fair Value of Separate Accounts by Major Category of Investment
Account balances of variable annuity contracts with guarantees were invested in separate account investment options as follows: 
December 31, 2021(1)December 31, 2020(1)
(in thousands)
Equity funds$69,299,203 $68,436,773 
Bond funds47,895,089 51,126,536 
Money market funds3,016,761 1,578,516 
Total$120,211,053 $121,141,825 
(1)Balances are gross of reinsurance.
Schedule of Minimum Guaranteed Benefit Liabilities
The table below summarizes the changes in general account liabilities for guarantees. The liabilities for GMDB and guaranteed minimum income benefits (“GMIB”) are included in “Future policy benefits” and the related changes in the liabilities are included in “Policyholders' benefits”. GMAB, GMWB and GMIWB are accounted for as embedded derivatives and are recorded at fair value within “Future policy benefits”. Changes in the fair value of these derivatives, including changes in the Company’s own risk of non-performance, along with any fees attributed or payments made relating to the derivative, are recorded in “Realized investment gains (losses), net.” See Note 5 for additional information regarding the methodology used in determining the fair value of these embedded derivatives. The Company maintains a portfolio of derivative investments that serve as a partial hedge of the risks associated with these products, for which the changes in fair value are also recorded in "Realized investment gains (losses), net." This portfolio of derivative investments does not qualify for hedge accounting treatment under U.S. GAAP. Additionally, the Company externally reinsures the guaranteed benefit features associated with certain contracts. See Note 9 for further information regarding the external reinsurance arrangement.
 GMDBGMIBGMWB/GMIWB/
GMAB
Total
 Variable AnnuityVariable Life, Variable Universal Life & Universal LifeVariable Annuity
(in thousands)
Balance at December 31, 2018$411,568 $5,231,854 $16,810 $5,588,839 $11,249,071 
Incurred guarantee benefits(1)52,717 1,473,762 2,266 2,940,727 4,469,472 
Paid guarantee benefits(25,992)(110,642)(2,209)(138,843)
Change in unrealized investment gains and losses22,208 805,259 240 827,707 
Balance at December 31, 2019460,501 7,400,233 17,107 8,529,566 16,407,407 
Incurred guarantee benefits(1)114,878 1,368,759 3,490 4,698,248 6,185,375 
Paid guarantee benefits(37,804)(126,148)(1,667)(165,619)
Change in unrealized investment gains and losses31,488 720,741 318 752,547 
Balance at December 31, 2020569,063 9,363,585 19,248 13,227,814 23,179,710 
Incurred guarantee benefits(1)(10,596)1,089,139 (3,650)(4,179,858)(3,104,965)
Paid guarantee benefits(24,394)(189,453)(213,847)
Change in unrealized investment gains and losses(46,542)(326,128)(484)(373,154)
Balance at December 31, 2021$487,531 $9,937,143 $15,114 $9,047,956 $19,487,744 
(1)Incurred guarantee benefits include the portion of assessments established as additions to reserves as well as changes in estimates affecting the reserves. Also includes changes in the fair value of features considered to be derivatives.
Deferred Sales Inducements Changes in DSI, reported as “Interest credited to policyholders’ account balances”, are as follows:
 Sales Inducements
(in thousands)    
Balance at December 31, 2020$
Capitalization167 
Amortization - Impact of assumption and experience unlocking and true-ups16,286 
Amortization - All other(37,737)
Change in unrealized investment gains and losses7,669 
Other (1)388,264 
Balance at December 31, 2021$374,649 
(1) Represents the impact of the 2021 Variable Annuities Recapture.