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Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule Of Fair Value Assets and Liabilities Measured on Recurring Basis Table Text Block
Assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 are summarized below (dollars in millions):
June 30, 2023: Fair Value Measurements Using:
 Total    Level 1        Level 2    Level 3    
Assets: (1)
Fixed maturity securities available-for-sale:
Corporate$36,178 $— $31,524 $4,654 
Canadian government3,752 — 3,752 — 
Japanese government3,046 — 3,046 — 
ABS4,165 — 2,826 1,339 
CMBS1,699 — 1,642 57 
RMBS1,037 — 1,036 1 
U.S. government1,366 1,272 86 8 
State and political subdivisions1,109 — 1,088 21 
Other foreign government3,884 — 3,849 35 
Total fixed maturity securities available-for-sale56,236 1,272 48,849 6,115 
Equity securities136 68 — 68 
Funds withheld at interest – embedded derivatives(353)— — (353)
Funds withheld at interest53 — — 53 
Cash equivalents1,329 1,326 3 — 
Short-term investments193 93 94 6 
Other invested assets:
Derivatives61 — 61 — 
Other21 — 21 — 
Total other invested assets82 — 82 — 
Total$57,676 $2,759 $49,028 $5,889 
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives$472 $— $— $472 
Other liabilities:
Funds withheld at interest – embedded derivatives(362)— — (362)
Derivatives237 — 237 — 
Total$347 $— $237 $110 
(1)Excludes limited partnerships that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of June 30, 2023, the fair value of such investments was $768 million.
December 31, 2022: Fair Value Measurements Using:
 TotalLevel 1Level 2Level 3
Assets: (1)
Fixed maturity securities available-for-sale:
Corporate$33,969 $— $29,670 $4,299 
Canadian government3,626 — 3,626 — 
Japanese government2,559 — 2,559 — 
ABS3,878 — 2,603 1,275 
CMBS1,623 — 1,555 68 
RMBS941 — 931 10 
U.S. government1,482 1,388 85 9 
State and political subdivisions1,119 — 1,093 26 
Other foreign government3,704 — 3,669 35 
Total fixed maturity securities available-for-sale52,901 1,388 45,791 5,722 
Equity securities134 68 — 66 
Funds withheld at interest – embedded derivatives(371)— — (371)
Funds withheld at interest54 — — 54 
Cash equivalents1,535 1,535 — — 
Short-term investments121 54 54 13 
Other invested assets:
Derivatives170 — 170 — 
Other23 — 23 — 
Total other invested assets 193 — 193 — 
Total$54,567 $3,045 $46,038 $5,484 
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives$530 $— $— $530 
Other liabilities:
Funds withheld at interest – embedded derivatives(363)— — (363)
Derivatives183 — 183 — 
Total$350 $— $183 $167 
(1)Excludes limited partnerships that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of December 31, 2022, the fair value of such investments was $683 million.
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]
The following table presents quantitative information about significant unobservable inputs used in Level 3 fair value measurements that are developed internally by the Company as of June 30, 2023 and December 31, 2022 (dollars in millions):
Estimated Fair Value      Valuation TechniqueUnobservable InputsRange (Weighted Average) 
June 30, 2023December 31, 2022June 30, 2023December 31, 2022
Assets:
Corporate$4 $25 Market comparable securitiesLiquidity premiumN/A
1%
EBITDA Multiple
5.3x-8.0x (6.0x)
5.3x
ABS267 274 Market comparable securitiesLiquidity premium
0-18% (2%)
0-18% (2%)
U.S. government8 9 Market comparable securitiesLiquidity premium
0-1% (1%)
0-1% (1%)
Equity securities21 9 Market comparable securitiesLiquidity premium
1%
N/A
EBITDA Multiple
8.4x-11.2x (10.4x)
8.4x-11.2x (9.6x)
Funds withheld at interest – embedded derivatives(16)(34)Total return swapMortality
0-100%  (3%)
0-100%  (3%)
Lapse
0-35%  (15%)
0-35%  (17%)
Withdrawal
0-5%  (4%)
0-5%  (4%)
CVA
0-5%  (0%)
0-5%  (0%)
Crediting rate
1-4%  (2%)
1-4%  (2%)
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives – indexed annuities472 530 Discounted cash flowMortality
0-100%  (3%)
0-100% (3%)
Lapse
0-35%  (14%)
0-35% (16%)
Withdrawal
0-5%  (4%)
0-5% (3%)
Option budget projection
1-4%  (2%)
1-4% (2%)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Three months ended June 30, 2023:
Fixed maturity securities available-for-sale
Funds 
withheld at interest –embedded derivatives, net (1)
Funds 
withheld at interest		Interest-sensitive contract 
liabilities – embedded derivatives
 CorporateForeign govtStructured securitiesU.S. and local govtEquity securitiesCash equivalentsShort-term investments
Fair value, beginning of period$4,613 $37 $1,461 $28 $68 $1 $7 $29 $53 $(495)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income1 — 2 — — — — — (1)— 
Investment related gains (losses), net1 — (2)— (2)— — (20)— — 
Interest credited— — — — — — — — — (5)
Included in other comprehensive income (loss)(64)(2)11 1 — — — — 2 — 
Purchases (2)
192 — 17 — 6 — — — 1 9 
Sales (2)
(32)— (4)— (4)— — — — — 
Settlements (2)
(59)— (60)— — — — — (2)19 
Transfers into Level 38 — — — — — 6 — — — 
Transfers out of Level 3(6)— (28)— — (1)(7)— — — 
Fair value, end of period$4,654 $35 $1,397 $29 $68 $— $6 $9 $53 $(472)
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Net investment income$1 $— $2 $— $— $— $— $— $(1)$— 
Investment related gains (losses), net— — (2)— (2)— — (20)— — 
Interest credited— — — — — — — — — (23)
Included in other comprehensive income (loss)(65)(2)10 1 — — — — 2 — 
(1)Funds withheld at interest – embedded derivative assets and liabilities are presented net for purposes of the rollforward.
(2)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Six months ended June 30, 2023:Fixed maturity securities available-for-sale
Funds 
withheld at interest –embedded derivatives, net (1)
Funds 
withheld at interest		Interest-sensitive contract 
liabilities – embedded derivatives
 CorporateForeign govtStructured securitiesU.S. and local govtEquity securitiesCash equivalentsShort-term investments
Fair value, beginning of period$4,299 $35 $1,353 $35 $66 $— $13 $(8)$54 $(530)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income2 — 3 — — — — — (3)— 
Investment related gains (losses), net— — (1)— (2)— (1)17 — — 
Interest credited— — — — — — — — — 11 
Included in other comprehensive income (loss)(9)— 44 — — — — — 3 — 
Purchases (2)
510 — 115 — 8 1 1 — 1 10 
Sales (2)
(32)— (4)— (4)— — — — — 
Settlements (2)
(118)— (122)(1)— — — — (2)37 
Transfers into Level 38 — 64 — — — 6 — — — 
Transfers out of Level 3(6)— (55)(5)— (1)(13)— — — 
Fair value, end of period$4,654 $35 $1,397 $29 $68 $— $6 $9 $53 $(472)
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Net investment income$2 $— $3 $— $— $— $— $— $(3)$— 
Investment related gains (losses), net(2)— (2)— (2)— (1)17 — — 
Interest credited— — — — — — — — — (25)
Included in other comprehensive income (loss)(13)— 43 — — — — — 3 — 
(1)Funds withheld at interest – embedded derivative assets and liabilities are presented net for purposes of the rollforward.
(2)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Three months ended June 30, 2022:
Fixed maturity securities available-for-sale
Funds 
withheld at interest –embedded derivatives, net (1)
Funds 
withheld at interest		Interest-sensitive contract 
liabilities – embedded derivatives
 CorporateForeign govtStructured securitiesU.S. and local govtEquity securitiesCash equivalentsShort-term investments
Fair value, beginning of period$4,046 $29 $1,121 $44 $48 $— $48 $132 $75 $(645)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income2 — — — — — — — (5)— 
Investment related gains (losses), net(6)— — — (5)— 1 (56)— — 
Interest credited— — — — — — — — — 44 
Included in other comprehensive income (loss)(157)(6)(73)(3)— — (1)— (5)— 
Purchases (2)
571 — 207 — 4 — 1 — 2 1 
Sales (2)
(108)— — (1)— — — — — — 
Settlements (2)
(153)— (21)(1)— — (28)— (5)16 
Transfers into Level 357 13 32 4 — — — — — — 
Transfers out of Level 3(14)— (19)— — — — — — — 
Fair value, end of period$4,238 $36 $1,247 $43 $47 $— $21 $76 $62 $(584)
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Net investment income$1 $— $— $— $— $— $— $— $(5)$— 
Investment related gains (losses), net(8)— — — (5)— — (56)— — 
Interest credited— — — — — — — — — 27 
Included in other comprehensive income (loss)(157)(6)(73)(3)— — — — (5)— 
(1)Funds withheld at interest – embedded derivative assets and liabilities are presented net for purposes of the rollforward.
(2)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Six months ended June 30, 2022:
Fixed maturity securities available-for-sale
Funds 
withheld at interest –embedded derivatives, net (1)
Funds 
withheld at interest		Interest-sensitive contract 
liabilities – embedded derivatives
 CorporateForeign govtStructured securitiesU.S. and local govtEquity securitiesCash equivalentsShort-term investments
Fair value, beginning of period$3,888 $33 $1,179 $45 $50 $— $28 $165 $83 $(693)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income3 — — — — — — — (10)— 
Investment related gains (losses), net(6)— (5)— (6)— 1 (89)— — 
Interest credited— — — — — — — — — 80 
Included in other comprehensive income (loss)(301)(10)(145)(4)— — (1)— (7)— 
Purchases (2)
936 — 302 — 4 — 21 — 3 (5)
Sales (2)
(124)— (51)(1)(1)— — — — — 
Settlements (2)
(179)— (59)(3)— — (28)— (7)34 
Transfers into Level 357 13 45 10 — — — — — — 
Transfers out of Level 3(36)— (19)(4)— — — — — — 
Fair value, end of period$4,238 $36 $1,247 $43 $47 $— $21 $76 $62 $(584)
Total gains/losses (realized/unrealized) recorded for the period relating to those Level 3 assets and liabilities that were still held at the end of the period
Included in earnings, net:
Net investment income$2 $— $— $— $— $— $— $— $(10)$— 
Investment related gains (losses), net(8)— (5)— (6)— — (89)— — 
Interest credited— — — — — — — — — 45 
Included in other comprehensive income (loss)(301)(10)(144)(4)— — — — (7)— 
(1)Funds withheld at interest – embedded derivative assets and liabilities are presented net for purposes of the rollforward.
(2)The amount reported within purchases, sales and settlements is the purchase price (for purchases) and the sales/settlement proceeds (for sales and settlements) based upon the actual date purchased or sold/settled. Items purchased and sold/settled in the same period are excluded from the rollforward. The Company had no issuances during the period.
Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block] The following table presents the carrying values and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis, as of June 30, 2023 and December 31, 2022 (dollars in millions). For additional information regarding the methods and significant assumptions used by the Company to estimate these fair values, see Note 6 – “Fair Value of Assets and Liabilities” in the Notes to Consolidated Financial Statements included in the Company’s 2022 Annual Report. This table excludes any payables or receivables for collateral under repurchase/reverse repurchase agreements and other transactions. The estimated fair value of the excluded amount approximates carrying value as they equal the amount of cash collateral received/paid.
June 30, 2023:
Carrying Value (1)
Estimated 
Fair Value		Fair Value Measurement Using:
Level 1Level 2Level 3
Assets:
Mortgage loans$7,038 $6,481 $— $— $6,481 
Policy loans1,202 1,202 — 1,202 — 
Funds withheld at interest6,162 5,734 — — 5,734 
Limited partnerships – cost method62 65 — — 65 
Cash and cash equivalents1,269 1,269 1,269 — — 
Short-term investments31 31 31 — — 
Other invested assets1,008 762 4 64 694 
Accrued investment income702 702 — 702 — 
Liabilities:
Interest-sensitive contract liabilities$23,073 22,565 $— $— $22,565 
Other liabilities – funds withheld at interest1,580 1,289 — — 1,289 
Long-term debt4,850 4,574 — — 4,574 
December 31, 2022:
Assets:
Mortgage loans$6,590 $6,109 $— $— $6,109 
Policy loans1,231 1,231 — 1,231 — 
Funds withheld at interest6,319 5,884 — — 5,884 
Limited partnerships – cost method49 52 — — 52 
Cash and cash equivalents1,392 1,392 1,392 — — 
Short-term investments33 33 33 — — 
Other invested assets947 758 4 65 689 
Accrued investment income630 630 — 630 — 
Liabilities:
Interest-sensitive contract liabilities$23,493 $23,065 $— $— $23,065 
Other liabilities – funds withheld at interest1,596 1,321 — — 1,321 
Long-term debt3,961 3,670 — — 3,670 
(1)Carrying values presented herein may differ from those in the Company’s condensed consolidated balance sheets because certain items within the respective financial statement captions may be measured at fair value on a recurring basis.