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Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below provides a summary of the gross notional amount and fair value of derivative contracts by the primary underlying risks, excluding embedded derivatives and associated reinsurance recoverables. Many derivative instruments contain multiple underlying risks. The fair value amounts below represent the value of derivative contracts prior to taking into account the netting effects of master netting agreements and cash collateral.
 March 31, 2022December 31, 2021
Primary Underlying Risk/Instrument Type Fair Value Fair Value
Gross NotionalAssetsLiabilitiesGross NotionalAssetsLiabilities
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Currency/Interest Rate
Interest Rate Swaps$3,306 $0 $(127)$3,344 $55 $0 
Foreign Currency Swaps1,257,356 55,035 (10,040)886,552 37,259 (6,900)
Total Derivatives Designated as Hedge Accounting Instruments$1,260,662 $55,035 $(10,167)$889,896 $37,314 $(6,900)
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate
Interest Rate Swaps$134,315,860 $4,661,714 $(10,707,561)$130,358,860 $5,698,740 $(10,348,130)
Interest Rate Options9,873,000 141,443 (170,561)9,883,000 280,323 (173,863)
Interest Rate Futures2,084,100 2,928 (2,394)4,109,300 2,876 (2,709)
Interest Rate Forwards115,000 0 (6,315)195,000 3,760 (991)
Foreign Currency
Foreign Currency Forwards223,781 2,954 (439)119,653 842 (1,063)
Credit
Credit Default Swaps2,285,550 46,641 0 306,900 24,789 0 
Currency/Interest Rate
Foreign Currency Swaps1,974,625 71,808 (23,693)2,139,523 68,477 (23,251)
Equity
Total Return Swaps13,609,955 151,873 (220,436)15,129,666 66,627 (475,209)
Equity Options33,912,368 644,928 (843,974)19,461,881 902,050 (1,535,272)
Equity Futures4,221,956 2,110 (59,684)5,015,002 736 (6,595)
Total Derivatives Not Qualifying as Hedge Accounting Instruments$202,616,195 $5,726,399 $(12,035,057)$186,718,785 $7,049,220 $(12,567,083)
Total Derivatives(1)(2)$203,876,857 $5,781,434 $(12,045,224)$187,608,681 $7,086,534 $(12,573,983)

(1)Excludes embedded derivatives and associated reinsurance recoverables which contain multiple underlying risks. The fair value of these embedded derivatives was a net liability of $6,965 million and $9,048 million as of March 31, 2022 and December 31, 2021, respectively included in "Future policy benefits" and $3,260 million and $3,246 million as of March 31, 2022 and December 31, 2021, respectively included in "Policyholders' account balances". Other assets included $76 million and $73 million as of March 31, 2022 and December 31, 2021, respectively. Other liabilities included $6 million and $13 million as of March 31, 2022 and December 31, 2021, respectively. The fair value of the related reinsurance, included in "Reinsurance recoverables" and/or "Reinsurance payables" was an asset of $701 million and $931 million as of March 31, 2022 and December 31, 2021, respectively.
(2)Recorded in “Other invested assets” and “Payables to parent and affiliates” on the Unaudited Interim Consolidated Statements of Financial Position.
Offsetting Of Financial Assets
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Consolidated Statements of Financial Position.
 March 31, 2022
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the
Consolidated Statements of
Financial
Position		Net Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$5,781,434 $(5,579,018)$202,416 $0 $202,416 
Securities purchased under agreements to resell300,000 0 300,000 (300,000)0 
Total Assets$6,081,434 $(5,579,018)$502,416 $(300,000)$202,416 
Offsetting of Financial Liabilities:
Derivatives$12,045,224 $(11,987,555)$57,668 $(57,668)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$12,045,224 $(11,987,555)$57,668 $(57,668)$0 

 December 31, 2021
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$7,086,534 $(6,818,009)$268,525 $0 $268,525 
Securities purchased under agreements to resell185,000 0 185,000 (185,000)0 
Total Assets$7,271,534 $(6,818,009)$453,525 $(185,000)$268,525 
Offsetting of Financial Liabilities:
Derivatives$12,573,983 $(12,568,082)$5,901 $(5,901)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$12,573,983 $(12,568,082)$5,901 $(5,901)$0 

(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Offsetting Of Financial Liabilities
The following table presents recognized derivative instruments (excluding embedded derivatives and associated reinsurance recoverables), and repurchase and reverse repurchase agreements that are offset in the Unaudited Interim Consolidated Statements of Financial Position, and/or are subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset in the Unaudited Interim Consolidated Statements of Financial Position.
 March 31, 2022
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the
Consolidated Statements of
Financial
Position		Net Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$5,781,434 $(5,579,018)$202,416 $0 $202,416 
Securities purchased under agreements to resell300,000 0 300,000 (300,000)0 
Total Assets$6,081,434 $(5,579,018)$502,416 $(300,000)$202,416 
Offsetting of Financial Liabilities:
Derivatives$12,045,224 $(11,987,555)$57,668 $(57,668)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$12,045,224 $(11,987,555)$57,668 $(57,668)$0 

 December 31, 2021
 Gross
Amounts of
Recognized
Financial
Instruments		Gross
Amounts
Offset in the Consolidated
Statements of
Financial
Position		Net Amounts
Presented in
the Consolidated Statements
of Financial
Position		Financial
Instruments/
Collateral(1)		Net
Amount
 (in thousands)
Offsetting of Financial Assets:
Derivatives$7,086,534 $(6,818,009)$268,525 $0 $268,525 
Securities purchased under agreements to resell185,000 0 185,000 (185,000)0 
Total Assets$7,271,534 $(6,818,009)$453,525 $(185,000)$268,525 
Offsetting of Financial Liabilities:
Derivatives$12,573,983 $(12,568,082)$5,901 $(5,901)$0 
Securities sold under agreements to repurchase0 0 0 0 0 
Total Liabilities$12,573,983 $(12,568,082)$5,901 $(5,901)$0 

(1)Amounts exclude the excess of collateral received/pledged from/to the counterparty.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following tables provide the financial statement classification and impact of derivatives used in qualifying and non-qualifying hedge relationships, excluding the offset of the hedged item in an effective hedge relationship.
 Three Months Ended March 31, 2022
 Realized
Investment
Gains (Losses)		Net
Investment
Income		Other
Income		Change in AOCI
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Interest Rate$0 $11 $0 $(157)
Currency/Interest Rate(771)7,850 6,700 12,981 
Total cash flow hedges(771)7,861 6,700 12,824 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate(1,625,937)0 0 0 
Currency4,297 0 0 0 
Currency/Interest Rate(1,708)0 113 0 
Credit(2,723)0 0 0 
Equity391,260 0 0 0 
Embedded Derivatives2,055,635 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments820,824 0 113 0 
Total$820,053 $7,861 $6,813 $12,824 
 Three Months Ended March 31, 2021
 Realized
Investment
Gains (Losses)		Net
Investment
Income		Other
Income		Change in AOCI
 (in thousands)
Derivatives Designated as Hedge Accounting Instruments:
Cash flow hedges
Interest Rate$0 $12 $0 $(125)
Currency/Interest Rate(163)2,460 1,717 4,824 
Total cash flow hedges(163)2,472 1,717 4,699 
Derivatives Not Qualifying as Hedge Accounting Instruments:
Interest Rate(37,371)0 0 0 
Currency1,036 0 0 0 
Currency/Interest Rate192 0 (11)0 
Credit(12)0 0 0 
Equity15,562 0 0 0 
Embedded Derivatives99,847 0 0 0 
Total Derivatives Not Qualifying as Hedge Accounting Instruments79,254 0 (11)0 
Total$79,091 $2,472 $1,706 $4,699 
Schedule of Derivative Instruments Recognized in Accumulated Other Comprehensive Income (Loss) Before Taxes
Presented below is a rollforward of current period cash flow hedges in AOCI before taxes:
 (in thousands)    
Balance, December 31, 2021$39,896 
Amount recorded in AOCI
Interest Rate(146)
Currency/Interest Rate26,760 
Total amount recorded in AOCI26,614 
Amount reclassified from AOCI to income
Interest Rate(11)
Currency/Interest Rate(13,779)
Total amount reclassified from AOCI to income(13,790)
Balance, March 31, 2022$52,720