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Fair Value of Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities that are measured at fair value on a recurring and non-recurring basis
Assets and liabilities measured at fair value
September 30, 2021
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$3,015 $27 $—  $3,042 
Municipal— 7,400 17  7,417 
Corporate - public— 17,328 19  17,347 
Corporate - privately placed— 9,866 154 10,020 
Foreign government— 1,059 —  1,059 
ABS— 1,069 1 1,070 
MBS— 26 8 34 
Total fixed income securities3,015 36,775 199  39,989 
Equity securities3,025 406 376 
 
3,807 
Short-term investments3,681 2,733 14  6,428 
Other investments— 39 2 $(19)22 
Other assets4 — —  4 
Assets held for sale6,291 25,818 146 (3)32,252 
Total recurring basis assets16,016 65,771 737 (22)82,502 
Non-recurring basis
— — 91  91 
Total assets at fair value$16,016 $65,771 $828 $(22)$82,593 
% of total assets at fair value19.4 %79.6 %1.0 %— %100.0 %
Investments reported at NAV1,555 
Assets held for sale at NAV549 
Total$84,697 
Liabilities     
Other liabilities$(4)$(35)$— $1 $(38)
Liabilities held for sale— (73)(479)(4)(556)
Total recurring basis liabilities(4)(108)(479)(3)(594)
Total liabilities at fair value$(4)$(108)$(479)$(3)$(594)
% of total liabilities at fair value0.7 %18.2 %80.6 %0.5 %100.0 %
Assets and liabilities measured at fair value
December 31, 2020
($ in millions)Quoted prices in active markets for identical assets (Level 1)Significant other observable inputs (Level 2)Significant unobservable inputs (Level 3)Counterparty and cash collateral nettingTotal
Assets     
Fixed income securities:     
U.S. government and agencies$2,061 $45 $—  $2,106 
Municipal— 7,562 17  7,579 
Corporate - public— 21,885 67  21,952 
Corporate - privately placed— 9,002 63 9,065 
Foreign government— 958 —  958 
ABS— 794 52 846 
MBS— 32 27 59 
Total fixed income securities2,061 40,278 226  42,565 
Equity securities2,468 396 304 
 
3,168 
Short-term investments6,549 223 35 
 
6,807 
Other investments— 29 — $(9)20 
Other assets1 — —  1 
Assets held for sale6,488 23,103 267 (6)29,852 
Total recurring basis assets17,567 64,029 832 (15)82,413 
Total assets at fair value$17,567 $64,029 $832 $(15)$82,413 
% of total assets at fair value21.3 %77.7 %1.0 %— %100.0 %
Investments reported at NAV1,062 
Assets held for sale at NAV762 
Total$84,237 
Liabilities     
Other liabilities$— $(34)$— $18 $(16)
Liabilities held for sale— (119)(516)9 (626)
Total recurring basis liabilities— (153)(516)27 (642)
Total liabilities at fair value$— $(153)$(516)$27 $(642)
% of total liabilities at fair value— %23.8 %80.4 %(4.2)%100.0 %
Summary of quantitative information about the significant unobservable inputs
Quantitative information about the significant unobservable inputs used in Level 3 fair value measurements (1)
($ in millions)Fair valueValuation
technique		Unobservable
input		RangeWeighted
average
September 30, 2021     
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options$(455)Stochastic cash flow modelProjected option cost
1.0 - 4.2%
2.90%
December 31, 2020     
Derivatives embedded in life and annuity contracts – Equity-indexed and forward starting options$(483)Stochastic cash flow modelProjected option cost
1.0 - 4.2%
2.80%
(1)These were included in the liabilities held for sale as of September 30, 2021 and December 31, 2020.
Schedule of the rollforward of Level 3 assets and liabilities held at fair value on a recurring basis
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2021
Balance as of
 June 30, 2021		Total gains (losses) included in: Transfers Transfers to (from) held for saleBalance as of
 September 30, 2021
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$18 $— $(1)$— $— $— $— $— $— $— $17 
Corporate - public20 — — — — (1)— — — — 19 
Corporate - privately placed84 1 1 — (22)(2)104 (7)— (5)154 
ABS10 — — 1 — — 5 — — (15)1 
MBS23 — — — — — — — — (15)8 
Total fixed income securities155 1 — 1 (22)(3)109 (7)— (35)199 
Equity securities405 31 — — — — 27 (87)— — 376 
Short-term investments— — — — — — 14 — — — 14 
Other investments3 — — — — — — (1)— — 2 
Assets held for sale164 1 — — (20)3 — — — (2)146 
Total recurring Level 3 assets727 33 — 1 (42)— 150 (95)— (37)737 
Liabilities
Liabilities held for sale(490)15 — — — — — — (9)5 (479)
Total recurring Level 3 liabilities$(490)$15 $— $— $— $— $— $— $(9)$5 $(479)
Rollforward of Level 3 assets and liabilities held at fair value during the nine month period ended September 30, 2021
Balance as of
 December 31, 2020		Total gains (losses) included in: Transfers Transfers to (from) held for saleBalance as of
 September 30, 2021
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$17 $— $— $— $— $— $3 $— $— $(3)$17 
Corporate - public67 1 (2)— — (7)13 (53)— — 19 
Corporate - privately placed63 — 2 8 — 14 103 (31)— (5)154 
ABS52 1 — — (32)— 57 (37)— (40)1 
MBS27 — — — — — — (5)— (14)8 
Total fixed income securities226 2 — 8 (32)7 176 (126)— (62)199 
Equity securities304 63 — — — 101 40 (132)— — 376 
Short-term investments35 — — — — — 14 — — (35)14 
Other investments— — — — — — 3 (1)— — 2 
Assets held for sale267 3 — 5 (13)(108)3 (6)— (5)146 
Total recurring Level 3 assets832 68 — 13 (45)— 236 (265)— (102)737 
Liabilities
Liabilities held for sale(516)46 — — — — — — (25)16 (479)
Total recurring Level 3 liabilities$(516)$46 $— $— $— $— $— $— $(25)$16 $(479)
Rollforward of Level 3 assets and liabilities held at fair value during the three month period ended September 30, 2020
Balance as of
 June 30, 2020		Total gains (losses) included in: Transfers Balance
 as of September 30, 2020
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$26 $— $— $— $(7)$— $(2)$— $— $17 
Corporate - public43 — 9 — — 59 (10)— — 101 
Corporate - privately placed52 — — — (19)34 (2)— — 65 
ABS45 (1)1 — (2)17 (23)— — 37 
MBS44 — — — — — — — (15)29 
Total fixed income securities210 (1)10 — (28)110 (37)— (15)249 
Equity securities273 — — — (1)4 (5)— — 271 
Short-term investments10 1 — — — 19 — — — 30 
Assets held for sale281 2 — 20 (46)53 (5)— — 305 
Total recurring Level 3 assets774 2 10 20 (75)186 (47)— (15)855 
Liabilities
Liabilities held for sale(488)(6)— — — — — (10)7 (497)
Total recurring Level 3 liabilities$(488)$(6)$— $— $— $— $— $(10)$7 $(497)
Rollforward of Level 3 assets and liabilities held at fair value during the nine months period ended September 30, 2020
Balance as of
 December 31, 2019		Total gains (losses) included in: Transfers Balance as of
 September 30, 2020
($ in millions)Net incomeOCIInto Level 3Out of Level 3PurchasesSalesIssuesSettlements
Assets
Fixed income securities:
Municipal$22 $— $— $— $— $— $(3)$— $(2)$17 
Corporate - public36 (1)1 1 — 64 — — — 101 
Corporate - privately placed32 — — — — 35 (2)— — 65 
ABS49 (1)(1)51 (49)33 (19)— (26)37 
MBS35 — — — — 10 (1)— (15)29 
Total fixed income securities174 (2)— 52 (49)142 (25)— (43)249 
Equity securities255 (12)— — — 33 (5)— — 271 
Short-term investments25 1 — — (25)29 — — — 30 
Assets held for sale284 (1)(5)31 (42)63 (22)— (3)305 
Total recurring Level 3 assets738 (14)(5)83 (116)267 (52)— (46)855 
Liabilities
Liabilities held for sale(462)(27)— — — — — (25)17 (497)
Total recurring Level 3 liabilities$(462)$(27)$— $— $— $— $— $(25)$17 $(497)
Total Level 3 gains (losses) included in net income
Three months ended September 30,Nine months ended September 30,
($ in millions)2021202020212020
Net investment income$6 $(1)$(1)$(15)
Realized capital gains (losses)26 1 66 2 
Schedule of gains and losses included in net income for Level 3 assets and liabilities still held at the balance sheet date
Valuation changes included in net income and OCI for Level 3 assets and liabilities held as of September 30,
($ in millions)Three months ended September 30,Nine months ended September 30,
2021202020212020
Assets    
Fixed income securities:    
Municipal$1 $— $— $— 
Corporate - public— — — (1)
Corporate - privately placed— — — — 
ABS— — — (1)
Total fixed income securities1 — — (2)
Equity securities9 — 22 (12)
Short-term investments— 1 — 1 
Assets held for sale1 2 3 (2)
Total recurring Level 3 assets$11 $3 $25 $(15)
Liabilities    
Liabilities held for sale$15 $(6)$46 $(27)
Total recurring Level 3 liabilities15 (6)46 (27)
Total included in net income$26 $(3)$71 $(42)
Components of net income
Net investment income$6 $(1)$(1)$(15)
Realized capital gains (losses)4 2 23 2 
Total included in net income$10 $1 $22 $(13)
Assets
Municipal$(1)$1 $— $— 
Corporate - public— — (1)1 
Corporate - privately placed1 — 1 — 
ABS— 1 — — 
Assets held for sale— — — (3)
Changes in unrealized net capital gains and losses reported in OCI$— $2 $— $(2)
Schedule of carrying values and fair value estimates of financial instruments not carried at fair value
Financial instruments not carried at fair value
($ in millions)September 30, 2021December 31, 2020
Financial assetsFair value levelAmortized cost, net
Fair
value
Amortized cost, net
Fair
value
Mortgage loansLevel 3$752 $795 $746 $792 
Bank loansLevel 31,592 1,640 772 803 
Agent loansLevel 3567 570 — — 
Assets held for saleLevel 32,852 3,050 4,206 4,440 
Financial liabilitiesFair value level
Carrying value (1)
Fair
value
Carrying value (1)
Fair
value
Contractholder funds on investment contractsLevel 3$20 $20 $— $— 
Long-term debtLevel 27,980 9,267 7,825 9,489 
Liability for collateralLevel 21,481 1,481 914 914 
Liabilities held for sale (2)
Level 37,316 8,248 8,130 9,424 
(1)Represents the amounts reported on the Condensed Consolidated Statements of Financial Position.
(2)Includes certain liabilities for collateral measured at Level 2 fair value as of September 30, 2021 and December 31, 2020.