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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2019
Dec. 31, 2018
Investments:    
Fixed maturities, available-for-sale, at fair value (amortized cost of $22,758 as of 2019 and $22,860 as of 2018) $ 25,072 $ 22,981
Fixed maturities, at fair value using the fair value option 1,448 1,171
Equity securities, at fair value (cost of $75 as of 2019 and $45 as of 2018) 90 57
Short-term investments 50 50
Mortgage loans on real estate, net of valuation allowance of $0 as of 2019 and $1 as of 2018 4,682 4,918
Policy loans 207 210
Limited partnerships/corporations 702 583
Derivatives 331 128
Other investments 42 40
Total investments 33,603 31,020
Cash and cash equivalents 331 364
Short-term investments under securities loan agreements, including collateral delivered 1,105 793
Accrued investment income 320 301
Premiums receivable and reinsurance recoverable 1,330 1,409
Deferred policy acquisition costs, Value of business acquired and Sales inducements to contract owners 576 1,104
Due from Related Parties 129 0
Current income tax recoverable 0 35
Due from affiliates 62 54
Property and equipment 61 62
Other assets 184 251
Assets held in separate accounts 75,898 67,323
Total assets 113,599 102,716
Liabilities and Shareholder's Equity    
Future policy benefits and contract owner account balances 31,101 30,695
Payable for securities purchased 60 49
Payables under securities loan agreements, including collateral held 1,033 827
Due to affiliates 69 73
Derivatives 395 99
Current income tax payable to Parent 3 0
Deferred income taxes 365 64
Other liabilities 324 264
Liabilities related to separate accounts 75,898 67,323
Total liabilities 109,248 99,394
Commitments and Contingencies (Note 9)
Shareholder's equity:    
Common stock (100,000 shares authorized, 55,000 issued and outstanding as of 2019 and 2018; $50 par value per share) 3 3
Additional paid-in capital 2,728 2,728
Accumulated other comprehensive income (loss) 1,366 108
Retained earnings (deficit) 254 483
Total shareholder's equity 4,351 3,322
Total liabilities and shareholder's equity 113,599 102,716
Collateral Pledged    
Investments:    
Securities pledged (amortized cost of $869 as of 2019 and $867 as of 2018) $ 979 $ 882