0000898174-22-000088 | 10-Q | XBRL Viewer | Reinsurance Group OF America INC

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Jul. 31, 2022
Document Information [Line Items]
Amendment Flag	false
Entity Common Stock, Shares Outstanding		67,007,268
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Document Transition Report	false
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	43-1627032
Entity File Number	1-11848
Entity Shell Company	false
Document Quarterly Report	true
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Period End Date	Jun. 30, 2022
Document Type	10-Q
Entity Central Index Key	0000898174
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	REINSURANCE GROUP OF AMERICA, INCORPORATED

Document and Entity Information Address	6 Months Ended
Document and Entity Information Address	Jun. 30, 2022
Entity Addresses [Line Items]
City Area Code	636
Local Phone Number	736-7000
Entity Address, Address Line One	16600 Swingley Ridge Road
Entity Address, City or Town	Chesterfield
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	63017

Document and Entity Information Document and Entity Information Entity Listings - NEW YORK STOCK EXCHANGE, INC. [Member]	6 Months Ended
	Jun. 30, 2022
RGA [Member]
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	RGA
Security Exchange Name	NYSE
RZA [Member]
Entity Listings [Line Items]
Title of 12(b) Security	6.20% Fixed-To-Floating Rate Subordinated Debentures due 2042
Trading Symbol	RZA
Security Exchange Name	NYSE
RZB [Member]
Entity Listings [Line Items]
Title of 12(b) Security	5.75% Fixed-To-Floating Rate Subordinated Debentures due 2056
Trading Symbol	RZB
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets
Fixed maturity securities available-for-sale, at fair value (amortized cost of $57,608 and $55,873; allowance for credit losses of $55 and $31)	$ 53,294	$ 60,749
Equity securities, at fair value	127	151
Mortgage loans (net of allowance for credit losses of $38 and $35)	6,544	6,283
Policy loans	1,218	1,234
Funds withheld at interest	6,393	6,954
Short-term investments	272	87
Other invested assets	3,110	3,070
Total investments	70,958	78,528
Cash and cash equivalents	2,556	2,948
Accrued investment income	572	533
Premiums receivable and other reinsurance balances	2,884	2,888
Reinsurance ceded receivables and other	2,558	2,580
Deferred policy acquisition costs	3,856	3,690
Other assets	1,225	1,008
Total assets	84,609	92,175
Liabilities and Equity
Future policy benefits	34,833	35,782
Interest-sensitive contract liabilities	29,023	26,377
Other policy claims and benefits	6,464	6,993
Other reinsurance balances	582	613
Deferred income taxes	1,060	2,886
Other liabilities	2,899	2,663
Long-term debt	3,667	3,667
Collateral finance and securitization notes	152	180
Total liabilities	78,680	79,161
Commitments and contingent liabilities (See Note 8)
Equity:
Preferred stock – par value $0.01 per share, 10,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock – par value $0.01 per share, 140,000,000 shares authorized, 85,310,598 shares issued at June 30, 2022 and December 31, 2021	1	1
Additional paid-in capital	2,478	2,461
Retained earnings	8,592	8,563
Treasury stock, at cost – 18,303,330 and 18,139,868 shares	(1,673)	(1,653)
Accumulated other comprehensive income (loss)	(3,559)	3,642
Total Reinsurance Group of America, Inc. stockholders’ equity	5,839	13,014
Total liabilities and stockholders’ equity	84,609	92,175
Stockholders' Equity Attributable to Noncontrolling Interest	90	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 5,929	$ 13,014

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Available for Sale at Fair value - Amortized cost	$ 57,608	$ 55,873
Preferred stock par value (per share)	$ 0.01
Preferred stock shares authorized	10,000,000
Common stock par value (per share)	$ 0.01
Common stock shares authorized	140,000,000
Common Stock, Shares, Issued	85,310,598
Treasury stock, shares	18,303,330	18,139,868
Allowances for Loan and Lease Losses, Real Estate	$ 38	$ 35

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Net premiums	$ 3,230.0	$ 3,098.0	$ 6,385.0	$ 6,012.0
Net investment income	754.0	759.0	1,564.0	1,571.0
Investment related gains (losses), net	(254.0)	112.0	(380.0)	414.0
Other revenues	157.0	168.0	248.0	259.0
Total revenues	3,887.0	4,137.0	7,817.0	8,256.0
Benefits and Expenses:
Claims and other policy benefits	2,815.0	2,813.0	6,040.0	6,005.0
Interest credited	138.0	218.0	279.0	364.0
Policy acquisition costs and other insurance expenses	393.0	339.0	748.0	672.0
Other operating expenses	243.0	240.0	469.0	454.0
Interest expense	42.0	43.0	84.0	88.0
Collateral finance and securitization expense	2.0	2.0	3.0	5.0
Total benefits and expenses	3,633.0	3,655.0	7,623.0	7,588.0
Income before income taxes	254.0	482.0	194.0	668.0
Provision for income taxes	55.0	138.0	58.0	185.0
Net income	199.0	344.0	136.0	483.0
Net Income (Loss) Attributable to Noncontrolling Interest	1.0	0.0	1.0	0.0
Net income available to RGA, Inc. shareholders	$ 198.0	$ 344.0	$ 135.0	$ 483.0
Earnings per share:
Basic earnings per share	$ 2.95	$ 5.06	$ 2.01	$ 7.11
Diluted earnings per share	$ 2.92	$ 5.02	$ 2.00	$ 7.06

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Comprehensive income (loss)
Net income	$ 199	$ 344	$ 136	$ 483
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(43)	19	(30)	49
Net unrealized investment gains (losses)	(3,460)	1,020	(7,170)	(1,367)
Defined benefit pension and postretirement plan adjustments	(1)	0	(1)	0
Total other comprehensive income (loss), net of tax	(3,504)	1,039	(7,201)	(1,318)
Total comprehensive income (loss)	(3,305)	1,383	(7,065)	(835)
Comprehensive income attributable to noncontrolling interest	1	0	1	0
Total comprehensive income (loss) available to RGA, Inc. shareholders	$ (3,306)	$ 1,383	$ (7,066)	$ (835)

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent	$ 14,352.0	$ 1.0	$ 2,406.0	$ 8,148.0	$ (1,562.0)	$ 5,359.0
Stockholders' Equity Attributable to Noncontrolling Interest	0.0
Net income available to RGA, Inc. shareholders	483.0
Other Comprehensive Income (Loss), Net of Tax	(1,318.0)
Dividends, Common Stock, Cash	(95.0)			(95.0)
Proceeds from issuance of common stock, net	0.0
Treasury Stock, Value, Acquired, Cost Method	(2.0)				(2.0)
Stock Issued During Period, Value, Treasury Stock Reissued	24.0		24.0	5.0	5.0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	0.0
Net Income (Loss) Attributable to Noncontrolling Interest	0.0
Stockholders' Equity Attributable to Parent	12,090.0	1.0	2,411.0	8,235.0	(1,559.0)	3,002.0
Stockholders' Equity Attributable to Noncontrolling Interest	0.0
Net income available to RGA, Inc. shareholders	344.0
Other Comprehensive Income (Loss), Net of Tax	1,039.0
Dividends, Common Stock, Cash	(47.0)			(47.0)
Treasury Stock, Value, Acquired, Cost Method	(1.0)				(1.0)
Stock Issued During Period, Value, Treasury Stock Reissued	19.0		19.0	1.0	1.0
Net Income (Loss) Attributable to Noncontrolling Interest	0.0
Stockholders' Equity Attributable to Parent	13,444.0	1.0	2,430.0	8,531.0	(1,559.0)	4,041.0
Stockholders' Equity Attributable to Noncontrolling Interest	0.0
Stockholders' Equity Attributable to Parent	13,014.0	1.0	2,461.0	8,563.0	(1,653.0)	3,642.0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	13,014.0
Stockholders' Equity Attributable to Noncontrolling Interest	0.0
Net income available to RGA, Inc. shareholders	135.0
Other Comprehensive Income (Loss), Net of Tax	(7,201.0)
Dividends, Common Stock, Cash	(98.0)			(98.0)
Proceeds from issuance of common stock, net	0.0
Treasury Stock, Value, Acquired, Cost Method	(27.0)				(27.0)
Stock Issued During Period, Value, Treasury Stock Reissued	16.0		17.0	8.0	7.0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1.0)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	136.0
Net Income (Loss) Attributable to Noncontrolling Interest	1.0
Stockholders' Equity Attributable to Parent	9,182.0	1.0	2,465.0	8,446.0	(1,675.0)	(55.0)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	9,272.0
Stockholders' Equity Attributable to Noncontrolling Interest	90.0
Net income available to RGA, Inc. shareholders	198.0
Other Comprehensive Income (Loss), Net of Tax	(3,504.0)
Dividends, Common Stock, Cash	(49.0)			(49.0)
Treasury Stock, Value, Acquired, Cost Method	0.0
Stock Issued During Period, Value, Treasury Stock Reissued	12.0		13.0	3.0	2.0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1.0)
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	199.0
Net Income (Loss) Attributable to Noncontrolling Interest	1.0
Stockholders' Equity Attributable to Parent	5,839.0	$ 1.0	$ 2,478.0	$ 8,592.0	$ (1,673.0)	$ (3,559.0)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	5,929.0
Stockholders' Equity Attributable to Noncontrolling Interest	$ 90.0

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.73	$ 0.70	$ 1.46	$ 1.40

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Adjustments to reconcile net income to net cash provided by operating activities:
Net Cash Provided by (Used in) Operating Activities	$ 242	$ 2,330
Cash flows from investing activities:
Sales of fixed maturity securities available-for-sale	6,018	7,235
Maturities of fixed maturity securities available-for-sale	419	545
Sales of equity securities	4	3
Principal payments and sales of mortgage loans	552	417
Principal payments on policy loans	21	12
Purchases of fixed maturity securities available-for-sale	9,278	9,885
Purchases of equity securities	(5)	(1)
Cash invested in mortgage loans	(834)	(783)
Cash invested in policy loans	5	8
Cash invested in funds withheld at interest	4	52
Proceeds from sale of businesses, net of cash transferred of $1 and $43	7	19
Purchases of property and equipment	(12)	(10)
Change in short-term investments	(200)	223
Change in other invested assets	106	112
Net cash provided by (used in) investing activities	(3,211)	(2,173)
Cash flows from financing activities:
Dividends to stockholders	(98)	(95)
Repayment of collateral finance and securitization notes	(29)	(65)
Principal payments of long-term debt	(2)	(401)
Purchases of treasury stock	(27)	(2)
Change in cash collateral for derivative positions and other arrangements	143	184
Change in deposit asset on reinsurance	(32)	0
Deposits on investment-type policies and contracts	3,424	599
Withdrawals on investment-type policies and contracts	(783)	(520)
Payments to Noncontrolling Interests	(1)	0
Proceeds from Noncontrolling Interests	90	0
Net cash provided by (used in) financing activities	2,685	(300)
Effect of exchange rate changes on cash	(108)	(11)
Change in cash and cash equivalents	(392)	(154)
Cash and cash equivalents, beginning of period	2,948	3,408
Cash and cash equivalents, end of period	2,556
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	2,556	3,254
Supplemental disclosures of cash flow information:
Interest paid	72	85
Income taxes paid (received), net of refunds	119	185
Transfer of invested assets	494	1,557
Non-cash financing activities:
Assets disposed, net of cash transferred	(6)	(512)
Liabilities disposed	$ 1	$ 504

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (PARENTHETICAL) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Cash Divested from Deconsolidation	$ 1	$ 43

Business and Basis of Presentation	6 Months Ended
Business and Basis of Presentation	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Business and Basis of Presentation Business Reinsurance Group of America, Incorporated (“RGA”) is an insurance holding company that was formed on December 31, 1992. RGA and its subsidiaries (collectively, the “Company”) is engaged in providing traditional reinsurance, which includes individual and group life and health, disability, and critical illness reinsurance. The Company also provides financial solutions, which includes longevity reinsurance, asset-intensive products, primarily annuities, financial reinsurance, capital solutions and stable value products. Basis of Presentation The unaudited condensed consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company’s 2021 Annual Report on Form 10-K filed with the SEC on February 25, 2022 (the “2021 Annual Report”). In the opinion of management, all adjustments, including normal recurring adjustments necessary for a fair presentation have been included. Interim results are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. Consolidation These unaudited condensed consolidated financial statements include the accounts of RGA and its subsidiaries and all intercompany accounts and transactions have been eliminated. Entities in which the Company has significant influence over the operating and financing decisions but are not required to be consolidated are reported under the equity method of accounting.

Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Earnings:
Net income	$	199	$	344	$	136	$	483
Less: Net income attributable to noncontrolling interest	1		—		1		—
Net income available to RGA, Inc. shareholders	$	198	$	344	$	135	$	483
Shares:
Weighted average outstanding shares	67		68		67		68
Equivalent shares from outstanding stock awards	1		1		1		1
Denominator for diluted calculation	68		69		68		69
Earnings per share:
Basic	$	2.95	$	5.06	$	2.01	$	7.11
Diluted	$	2.92	$	5.02	$	2.00	$	7.06

The calculation of common equivalent shares does not include the impact of stock awards with a conversion price that exceeds the average stock price for the earnings period, as the result would be antidilutive. The calculation of common equivalent shares also excludes the impact of outstanding performance contingent shares, as the conditions necessary for their issuance have not been satisfied as of the end of the reporting period. Approximately 1.4 million and 1.6 million stock awards and approximately 0.2 million performance contingent shares were excluded from the calculation of common equivalent shares during the three and six month periods ended June 30, 2022, respectively.

Equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Equity

Common Stock

The changes in the number of common stock issued, held in treasury and outstanding are as follows for the periods indicated:


	Issued	Held In Treasury	Outstanding
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730

Issuance of common stock	—	—	—
Common stock acquired	—	219,116	(219,116)
Stock-based compensation (1)	—	(55,654)	55,654
Balance, June 30, 2022	85,310,598	18,303,330	67,007,268


	Issued	Held In Treasury	Outstanding
Balance, December 31, 2020	85,310,598	17,353,697	67,956,901

Issuance of common stock	—	—	—
Common stock acquired	—	—	—
Stock-based compensation (1)	—	(40,036)	40,036
Balance, June 30, 2021	85,310,598	17,313,661	67,996,937

(1)Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs.

Common Stock Held in Treasury

Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of common stock held in treasury are credited to additional paid-in capital. Losses resulting from the reissuance of common stock held in treasury are charged first to additional paid-in capital to the extent the Company has previously recorded gains on treasury share transactions, then to retained earnings.

On January 24, 2019, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. During the six months ended June 30, 2022, RGA repurchased 219,116 shares of common stock under this program for $25 million.

On February 25, 2022, RGA’s board of directors authorized a share repurchase program for up to $400 million of RGA’s outstanding common stock. The authorization was effective immediately and does not have an expiration date. In connection with this authorization, the board of directors terminated the stock repurchase authority granted in 2019. During the six months ended June 30, 2022, RGA did not repurchase any shares of common stock under this program.

Noncontrolling Interest

In 2022, Papara Financing LLC (“Papara”), a subsidiary of RGA Reinsurance Company, issued nonconvertible preferred interests to an unaffiliated third party. Papara holds investments in mortgage loans.

The membership interests in Papara consist of (1) common interests, which are held by RGA Reinsurance Company and (2) preferred interests. The preferred interests total $90 million and pay an initial preferred distribution at an annual rate of 2.375% plus three month LIBOR. The applicable rate of interest is reset every five years. Distributions are paid quarterly, if declared by Papara. RGA can call the Papara preferred interests at the issue price beginning five years from the issuance date or upon the receipt of proceeds from the sale of the underlying assets.

The holders of the Papara preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of Papara to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given upon such an event, all other holders of equal or more subordinate classes of membership interests in Papara are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. The preferred interests are included in noncontrolling interest, and net income attributable to noncontrolling interest was $1 million for the six months ended June 30, 2022.

Accumulated Other Comprehensive Income (Loss)

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2022 and 2021 are as follows (dollars in millions):


	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2021	$	(9)	$	3,701	$	(50)	$	3,642
Other comprehensive income (loss) before reclassifications	(4)		(9,459)		(3)		(9,466)
Amounts reclassified to (from) AOCI	—		308		2		310
Deferred income tax benefit (expense)	(26)		1,981		—		1,955

Balance, June 30, 2022	$	(39)	$	(3,469)	$	(51)	$	(3,559)


	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2020	$	(69)	$	5,500	$	(72)	$	5,359
Other comprehensive income (loss) before reclassifications	55		(1,607)		(3)		(1,555)
Amounts reclassified to (from) AOCI	—		(154)		3		(151)
Deferred income tax benefit (expense)	(6)		394		—		388

Balance, June 30, 2021	$	(20)	$	4,133	$	(72)	$	4,041

(1)Includes cash flow hedges of $(206) and $(22) as of June 30, 2022 and December 31, 2021, respectively, and $(40) and $(49) as of June 30, 2021 and December 31, 2020, respectively. See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


	Amount Reclassified from AOCI
	Three months ended June 30,				Six months ended June 30,
Details about AOCI Components	2022		2021		2022		2021		Affected Line Item in Statements of Income
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities	$	(68)	$	26	$	(103)	$	183	Investment related gains (losses), net
Cash flow hedges – Interest rate	(2)		—		(2)		(2)		(1)
Cash flow hedges – Currency/Interest rate	(1)		(4)		(2)		(4)		(1)

Deferred policy acquisition costs attributed to unrealized gains and losses	(99)		19		(201)		(23)		(2)
Total	(170)		41		(308)		154
Provision for income taxes	35		(9)		64		(33)
Net unrealized gains (losses), net of tax	$	(135)	$	32	$	(244)	$	121
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	$	1	$	1	(3)
Actuarial gains (losses)	(2)		(3)		(3)		(4)		(3)
Total	(1)		(2)		(2)		(3)
Provision for income taxes	—		1		—		1
Amortization of defined benefit plans, net of tax	$	(1)	$	(1)	$	(2)	$	(2)

Total reclassifications for the period	$	(136)	$	31	$	(246)	$	119

(1)See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

(2)This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2021 Annual Report for additional details.

(3)This AOCI component is included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity Based Compensation	6 Months Ended
Equity Based Compensation	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Equity Based Compensation	Equity Based Compensation Equity compensation expense was $17 million and $24 million in the first six months of 2022 and 2021, respectively. In the first quarter of 2022, the Company granted 258,327 stock appreciation rights at $106.53 weighted average exercise price per share, 78,687 performance contingent shares and 219,553 restricted stock units to employees. Additionally, non-employee directors were granted a total of 17,937 shares of common stock. As of June 30, 2022, 1,705,128 share awards at a weighted average strike price per share of $105.83 were vested and exercisable, with a remaining weighted average exercise period of 4.3 years. As of June 30, 2022, the total compensation cost of non-vested awards not yet recognized in the condensed consolidated financial statements was $42 million. It is estimated that these costs will vest over a weighted average period of 0.8 years.

Investments

6 Months Ended

Jun. 30, 2022

Investments [Abstract]

Investments

Fixed Maturity Securities Available-for-Sale

The Company holds various types of fixed maturity securities available-for-sale and classifies them as corporate securities (“Corporate”), Canadian and Canadian provincial government securities (“Canadian government”), residential mortgage-backed securities (“RMBS”), asset-backed securities (“ABS”), commercial mortgage-backed securities (“CMBS”), U.S. government and agencies (“U.S. government”), state and political subdivisions, and other foreign government, supranational and foreign government-sponsored enterprises (“Other foreign government”). RMBS, ABS and CMBS are collectively “structured securities.”

The following tables provide information relating to investments in fixed maturity securities by type as of June 30, 2022 and December 31, 2021 (dollars in millions):


June 30, 2022:	Amortized Cost		Allowance for Credit Losses		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total
Available-for-sale:
Corporate	$	37,819	$	43	$	257	$	3,659	$	34,374	64.5	%
Canadian government	3,308		—		536		35		3,809		7.1
RMBS	1,004		—		8		62		950		1.8
ABS	4,091		5		3		307		3,782		7.1
CMBS	1,856		1		2		122		1,735		3.3
U.S. government	1,101		—		7		146		962		1.8
State and political subdivisions	1,202		—		21		107		1,116		2.1
Other foreign government	7,227		6		36		691		6,566		12.3
Total fixed maturity securities	$	57,608	$	55	$	870	$	5,129	$	53,294	100.0	%


December 31, 2021:	Amortized Cost		Allowance for Credit Losses		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total
Available-for-sale:
Corporate	$	35,239	$	26	$	3,084	$	194	$	38,103	62.8	%
Canadian government	3,339		—		1,606		1		4,944		8.1
RMBS	1,020		—		37		7		1,050		1.7
ABS	4,024		—		22		41		4,005		6.6
CMBS	1,790		1		66		6		1,849		3.0
U.S. government	2,082		—		31		8		2,105		3.5
State and political subdivisions	1,191		—		137		5		1,323		2.2
Other foreign government	7,188		4		273		87		7,370		12.1
Total fixed maturity securities	$	55,873	$	31	$	5,256	$	349	$	60,749	100.0	%

The Company enters into various collateral arrangements with counterparties that require both the pledging and acceptance of fixed maturity securities as collateral. Pledged fixed maturity securities are included in fixed maturity securities available-for-sale in the condensed consolidated balance sheets. Fixed maturity securities received as collateral are held in separate custodial accounts and are not recorded on the Company’s condensed consolidated balance sheets. Subject to certain constraints, the Company is permitted by contract to sell or repledge collateral it receives; however, as of June 30, 2022 and December 31, 2021, none of the collateral received had been sold or repledged. The Company also holds assets in trust to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties. The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	373	$	335	$	100	$	103
Fixed maturity securities received as collateral	n/a		1,591		n/a		1,922
Assets in trust held to satisfy collateral requirements	30,476		28,080		28,671		31,173

The Company monitors its concentrations of financial instruments on an ongoing basis and mitigates credit risk by maintaining a diversified investment portfolio that limits exposure to any one issuer. The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s equity included securities of the U.S. government and its agencies as well as the securities disclosed below, as of June 30, 2022 and December 31, 2021 (dollars in millions).


	June 30, 2022				December 31, 2021
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Government of Japan	$	3,031	$	2,755	$	3,080	$	3,063
Canadian province of Quebec	1,390		1,747		1,377		2,347
Canadian province of Ontario	1,047		1,155		1,092		1,451

The amortized cost and estimated fair value of fixed maturity securities classified as available-for-sale as of June 30, 2022, are shown by contractual maturity in the table below (dollars in millions). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Structured securities are shown separately in the table below, as they are not due at a single maturity date.


	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	1,408	$	1,407
Due after one year through five years	9,847		9,730
Due after five years through ten years	11,466		10,701
Due after ten years	27,936		24,989
Structured securities	6,951		6,467
Total	$	57,608	$	53,294

Corporate Fixed Maturity Securities

The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of June 30, 2022 and December 31, 2021 (dollars in millions):


June 30, 2022:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	14,008	$	12,703	37.0	%
Industrial	19,152		17,526		51.0
Utility	4,659		4,145		12.0

Total	$	37,819	$	34,374	100.0	%

December 31, 2021:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	13,101	$	14,045	36.9	%
Industrial	17,857		19,375		50.8
Utility	4,281		4,683		12.3
Total	$	35,239	$	38,103	100.0	%

Allowance for Credit Losses and Impairments – Fixed Maturity Securities Available-for-Sale

As discussed in Note 2 – “Significant Accounting Policies and Pronouncements” of the Company’s 2021 Annual Report, allowances for credit losses on fixed maturity securities are recognized in investment related gains (losses), net. The amount recognized represents the difference between the amortized cost of the security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the fixed maturity security prior to the allowance for credit losses. Any remaining difference between the fair value and amortized cost is recognized in OCI.

The following tables present the rollforward of the allowance for credit losses in fixed maturity securities by type for the six months ended June 30, 2022 and 2021 (dollars in millions):


	Six months ended June 30, 2022
	Corporate		ABS		CMBS		Other Foreign Government		Total
Balance, beginning of period	$	26	$	—	$	1	$	4	$	31
Credit losses recognized on securities for which credit losses were not previously recorded	18		5		—		1		24

Reductions for securities sold during the period	(6)		—		—		(1)		(7)
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period	5		—		—		2		7

Balance, end of period	$	43	$	5	$	1	$	6	$	55


	Six months ended June 30, 2021
	Corporate		ABS		CMBS		Other Foreign Government		Total
Balance, beginning of period	$	17	$	—	$	3	$	—	$	20
Credit losses recognized on securities for which credit losses were not previously recorded	2		—		1		4		7
Reductions for securities sold during the period	(8)		—		(2)		—		(10)
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period	—		—		(1)		—		(1)
Balance, end of period	$	11	$	—	$	1	$	4	$	16

Unrealized Losses for Fixed Maturity Securities Available-for-Sale

The Company’s determination of whether a decline in value necessitates the recording of an allowance for credit losses includes an analysis of whether the issuer is current on its contractual payments, evaluating whether it is probable that the Company will be able to collect all amounts due according to the contractual terms of the security and analyzing the overall ability of the Company to recover the amortized cost of the investment.

The following tables present the estimated fair value and gross unrealized losses for the 6,103 and 1,862 fixed maturity securities for which an allowance for credit loss has not been recorded as of June 30, 2022 and December 31, 2021, and the estimated fair value had declined and remained below amortized cost (dollars in millions). These investments are presented by class and grade of security, as well as the length of time the related fair value has continuously remained below amortized cost.


	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
June 30, 2022:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate	$	25,035	$	3,170	$	1,124	$	327	$	26,159	$	3,497
Canadian government	359		29		13		6		372		35
RMBS	631		39		122		23		753		62
ABS	2,850		244		640		45		3,490		289
CMBS	1,523		111		39		4		1,562		115
U.S. government	839		137		24		9		863		146
State and political subdivisions	789		100		27		7		816		107
Other foreign government	4,348		469		795		145		5,143		614
Total investment grade securities	36,374		4,299		2,784		566		39,158		4,865
Below investment grade securities:
Corporate	1,234		137		103		25		1,337		162


ABS	61		9		8		2		69		11
CMBS	29		3		11		1		40		4

Other foreign government	170		28		115		49		285		77
Total below investment grade securities	1,494		177		237		77		1,731		254
Total fixed maturity securities	$	37,868	$	4,476	$	3,021	$	643	$	40,889	$	5,119


	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
December 31, 2021:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate	$	4,135	$	86	$	946	$	51	$	5,081	$	137
Canadian government	20		1		—		—		20		1
RMBS	132		3		102		4		234		7
ABS	1,747		22		589		6		2,336		28
CMBS	152		2		35		2		187		4
U.S. government	1,513		6		31		2		1,544		8
State and political subdivisions	109		3		28		2		137		5
Other foreign government	2,237		33		724		37		2,961		70
Total investment grade securities	10,045		156		2,455		104		12,500		260
Below investment grade securities:
Corporate	463		13		97		44		560		57


ABS	—		—		13		13		13		13
CMBS	—		—		—		—		—		—

Other foreign government	136		7		75		10		211		17
Total below investment grade securities	599		20		185		67		784		87
Total fixed maturity securities	$	10,644	$	176	$	2,640	$	171	$	13,284	$	347

The Company has no intention to sell, nor does it expect to be required to sell, the securities outlined in the tables above, as of the dates indicated. However, unforeseen facts and circumstances may cause the Company to sell fixed maturity securities in the ordinary course of managing its portfolio to meet certain diversification, credit quality and liquidity guidelines. Changes in unrealized losses are primarily driven by changes in interest rates.

Net Investment Income

Major categories of net investment income consist of the following (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Fixed maturity securities available-for-sale	$	559	$	516	$	1,092	$	1,011
Equity securities	1		1		3		3
Mortgage loans	76		73		149		139
Policy loans	14		13		27		27
Funds withheld at interest	57		95		108		179
Short-term investments and cash and cash equivalents	2		—		4		1
Other invested assets – limited partnerships and real estate joint ventures	77		70		238		231
Other invested assets – all other	—		17		2		30
Investment income	786		785		1,623		1,621
Investment expense	(32)		(26)		(59)		(50)
Net investment income	$	754	$	759	$	1,564	$	1,571

Investment Related Gains (Losses), Net

Investment related gains (losses), net consist of the following (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Fixed maturity securities available-for-sale:
Change in allowance for credit losses and impairments	$	(15)	$	5	$	(27)	$	3
Realized gains on investment activity	34		53		45		220
Realized losses on investment activity	(94)		(30)		(130)		(43)
Net gains (losses) on equity securities	(15)		20		(23)		23
Other impairment losses and change in mortgage loan allowance for credit losses	(1)		3		(3)		21
Change in fair value of certain limited partnership investments and other, net	19		32		45		143
Net gains (losses) on derivatives	(182)		29		(287)		47
Total investment related gains (losses), net	$	(254)	$	112	$	(380)	$	414

Securities Borrowing, Lending and Repurchase/Reverse Repurchase Agreements

The following table provides information relating to securities borrowing, lending and repurchase/reverse repurchase agreements as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022			December 31, 2021
	Amortized Cost	Estimated Fair Value		Amortized Cost	Estimated Fair Value
Securities borrowing agreements:
Securities borrowed (1)	n/a	$	676	n/a	$	420
Securities pledged as collateral (2)	529	466		279	290
Securities lending agreements:
Securities loaned (2)	82	81		94	102
Securities received as collateral (3)	n/a	92		n/a	102
Repurchase/reverse repurchase agreements:
Securities pledged (2)	643	593		704	736
Cash (4)	—	—		10	10
Securities received (3)	n/a	565		n/a	728
Cash received (5)	162	162		—	—

(1)Securities borrowed are not reflected on the condensed consolidated balance sheets. Collateral associated with certain borrowed securities is not included within this table as the collateral pledged to the counterparty is the right to reinsurance treaty cash flows.

(2)Securities loaned and pledged to counterparties are included within fixed maturity securities.

(3)Securities received as collateral from counterparties are not reflected on the condensed consolidated financial statements.

(4)A receivable for the cash held by counterparties is included within other assets.

(5)A payable for the cash received by the Company is included within other liabilities.

The following tables present information on the remaining contractual maturity of the Company’s securities lending and repurchase agreements as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30 – 90 Days		Greater than 90 Days		Total
Securities lending agreements:
Corporate	$	—	$	—	$	—	$	68	$	68
State and political subdivisions	—		—		—		3		3
Other foreign government	—		—		—		10		10
Total	—		—		—		81		81
Repurchase agreements:
Corporate	—		—		51		289		340
Other foreign government	—		—		7		246		253
Total	—		—		58		535		593
Total agreements	$	—	$	—	$	58	$	616	$	674


	December 31, 2021
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30 – 90 Days		Greater than 90 Days		Total
Securities lending agreements:
Corporate	$	—	$	—	$	—	$	94	$	94
State and political subdivisions	—		—		—		3		3
Other foreign government	—		—		—		5		5
Total	—		—		—		102		102
Repurchase agreements:
Corporate	—		—		—		366		366
Other foreign government	—		—		—		370		370
Total	—		—		—		736		736
Total agreements	$	—	$	—	$	—	$	838	$	838

Mortgage Loans

As of June 30, 2022, mortgage loans were geographically dispersed throughout the U.S. with the largest concentrations in California (12.9%), Texas (11.4%) and Washington (8.2%), in addition to loans secured by properties in Canada (3.3%) and United Kingdom (2.4%). The recorded investment in mortgage loans presented below is gross of unamortized deferred loan origination fees and expenses and allowance for credit losses.

The following table presents the distribution of the Company’s recorded investment in mortgage loans by property type as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
Property type:	Carrying Value		% of Total		Carrying Value		% of Total
Office	$	1,729	26.2	%	$	1,683	26.6	%
Retail	2,319		35.1		2,090		33.0
Industrial	1,415		21.5		1,249		19.7
Apartment	776		11.8		801		12.7
Other commercial	355		5.4		506		8.0
Recorded investment	6,594		100.0	%	6,329		100.0	%
Unamortized balance of loan origination fees and expenses	(12)				(11)
Allowance for credit losses	(38)				(35)
Total mortgage loans	$	6,544			$	6,283

The following table presents the maturities of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	2,578	39.1	%	$	2,660	42.0	%
Due after five years through ten years	2,759		41.8		2,593		41.0
Due after ten years	1,257		19.1		1,076		17.0
Total	$	6,594	100.0	%	$	6,329	100.0	%

The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Recorded Investment
	Debt Service Ratios						Construction Loans
	>1.20x		1.00x – 1.20x		<1.00x				Total		% of Total
June 30, 2022:
Loan-to-Value Ratio
0% – 59.99%	$	3,350	$	222	$	67	$	10	$	3,649	55.3	%
60% – 69.99%	1,909		196		96		—		2,201		33.4
70% – 79.99%	455		34		40		—		529		8.0
80% or greater	89		—		126		—		215		3.3
Total	$	5,803	$	452	$	329	$	10	$	6,594	100.0	%


	Recorded Investment
	Debt Service Ratios						Construction Loans
	>1.20x		1.00x – 1.20x		<1.00x				Total		% of Total
December 31, 2021:
Loan-to-Value Ratio
0% – 59.99%	$	3,111	$	238	$	51	$	6	$	3,406	53.8	%
60% – 69.99%	1,906		190		46		—		2,142		33.8
70% – 79.99%	520		41		12		—		573		9.1
80% or greater	148		—		60		—		208		3.3
Total	$	5,685	$	469	$	169	$	6	$	6,329	100.0	%

The following table sets forth credit quality grades by year of origination of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Recorded Investment
	Year of Origination
	2022		2021		2020		2019		2018		Prior		Total
June 30, 2022:
Internal credit quality grade:
High investment grade	$	451	$	705	$	373	$	586	$	431	$	1,651	$	4,197
Investment grade	368		313		246		312		271		645		2,155
Average	—		6		—		26		76		98		206
Watch list	—		—		—		—		—		—		—
In or near default	—		—		—		—		—		36		36
Total	$	819	$	1,024	$	619	$	924	$	778	$	2,430	$	6,594


	Recorded Investment
	Year of Origination
	2021		2020		2019		2018		2017		Prior		Total
December 31, 2021:
Internal credit quality grade:
High investment grade	$	725	$	402	$	645	$	461	$	344	$	1,534	$	4,111
Investment grade	367		272		331		301		296		502		2,069
Average	6		—		27		39		5		32		109
Watch list	—		—		—		—		—		4		4
In or near default	—		—		—		—		—		36		36
Total	$	1,098	$	674	$	1,003	$	801	$	645	$	2,108	$	6,329

The following table presents the current and past due composition of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022		December 31, 2021
Current	$	6,575	$	6,329


Greater than 90 days	19		—

Total	$	6,594	$	6,329

The following table presents information regarding the Company’s allowance for credit losses for mortgage loans for the six months ended June 30, 2022 and 2021 (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Balance, beginning of period	$	37	$	47	$	35	$	64
Change in allowance for credit losses	1		(2)		3		(19)
Balance, end of period	$	38	$	45	$	38	$	45

For the six months ended June 30, 2022, the Company restructured three mortgage loans to interest only payments as a result of lower occupancy levels. The total recorded investment before allowance for credit losses for mortgage loans, which were modified and met the criteria of Troubled Debt Restructuring (“TDR”), is $77 million as of June 30, 2022. For the six months ended June 30, 2021, the Company did not have any significant loans that were modified and met the criteria of a TDR. The Company had no mortgage loans that were on a nonaccrual status as of June 30, 2022 and 2021. The Company did not acquire any impaired mortgage loans during six months ended June 30, 2022 and 2021.

Policy Loans

The majority of policy loans are associated with one client. These policy loans present no credit risk as the amount of the loan cannot exceed the obligation due to the ceding company upon the death of the insured or surrender of the underlying policy. The provisions of the treaties in force and the underlying policies determine the policy loan interest rates. The Company earns a spread between the interest rate earned on policy loans and the interest rate credited to corresponding liabilities.

Funds Withheld at Interest

As of June 30, 2022, $4.1 billion of the funds withheld at interest balance is primarily associated with two clients. For reinsurance agreements written on a modco basis and certain agreements written on a coinsurance funds withheld basis, assets equal to the net statutory reserves are withheld and legally owned and managed by the ceding company and are reflected as funds withheld at interest. In the event of a ceding company’s insolvency, the Company would need to assert a claim on the assets supporting its reserve liabilities. However, the risk of loss to the Company is mitigated by its ability to offset amounts it owes the ceding company for claims or allowances against amounts owed to the Company from the ceding company.

Other Invested Assets

Other invested assets include limited partnership interests, joint ventures (other than operating joint ventures), lifetime mortgages, and derivative contracts. Other invested assets also includes FHLB common stock and unit-linked investments, which are included in Other in the table below. As of June 30, 2022 and December 31, 2021, the allowance for credit losses for lifetime mortgages was not material. The carrying values of other invested assets as of June 30, 2022 and December 31, 2021 are as follows (dollars in millions):


	June 30, 2022		December 31, 2021
Limited partnership interests and real estate joint ventures	$	2,074	$	1,996
Lifetime mortgages	812		758
Derivatives	115		175
Other	109		141
Total other invested assets	$	3,110	$	3,070

Derivative Instruments

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Accounting for Derivative Instruments and Hedging Activities

See Note 2 – “Significant Accounting Policies and Pronouncements” of the Company’s 2021 Annual Report for a detailed discussion of the accounting treatment for derivative instruments, including embedded derivatives. See Note 6 – “Fair Value of Assets and Liabilities” for additional disclosures related to the fair value hierarchy for derivative instruments, including embedded derivatives.

Types of Derivatives Used by the Company

Commonly used derivative instruments include, but are not necessarily limited to: credit default swaps, financial futures, equity options, foreign currency swaps, foreign currency forwards, interest rate swaps, interest rate options, synthetic guaranteed investment contracts (“GICs”), consumer price index (“CPI”) swaps, forward bond purchase commitments, other derivatives and embedded derivatives.

For detailed information on these derivative instruments and the related strategies, see Note 5 – “Derivative Instruments” of the Company’s 2021 Annual Report.

Summary of Derivative Positions

Derivatives, except for embedded derivatives, are included in other invested assets or other liabilities, at fair value. Embedded derivative assets and liabilities on modco or funds withheld arrangements are included on the condensed consolidated balance sheets with the host contract in funds withheld at interest or other liabilities, at fair value. Embedded derivative liabilities on indexed annuity and variable annuity products are included on the condensed consolidated balance sheets with the host contract in interest-sensitive contract liabilities, at fair value. The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of June 30, 2022 and December 31, 2021 (dollars in millions):


		June 30, 2022						December 31, 2021
	Primary Underlying Risk	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
		Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	Interest rate	$	1,143	$	23	$	1	$	1,273	$	66	$	1
Interest rate options	Interest rate	2,893		9		—		—		—		—
Financial futures	Equity	227		—		—		240		—		—
Foreign currency swaps	Foreign currency	150		18		—		150		1		—
Foreign currency forwards	Foreign currency	755		—		21		395		2		4
CPI swaps	CPI	524		26		5		563		34		7
Credit default swaps	Credit	1,675		13		39		1,321		29		1
Equity options	Equity	298		43		—		472		29		—
Synthetic GICs	Interest rate	17,317		—		—		16,143		—		—


Embedded derivatives in:
Modco or funds withheld arrangements		—		326		250		—		227		62
Indexed annuity products		—		—		584		—		—		693
Variable annuity products		—		—		160		—		—		162
Total non-hedging derivatives		24,982		458		1,060		20,557		388		930
Derivatives designated as hedging instruments:
Interest rate swaps	Foreign currency/Interest rate	1,338		2		128		941		4		33
Foreign currency swaps	Foreign currency	114		—		—		153		1		—
Foreign currency forwards	Foreign currency	1,170		14		5		1,320		14		11
Forward bond purchase commitments	Interest rate	453		—		100		545		14		1
Total hedging derivatives		3,075		16		233		2,959		33		45
Total derivatives		$	28,057	$	474	$	1,293	$	23,516	$	421	$	975

Fair Value Hedges

The Company designates and reports certain foreign currency swaps to hedge the foreign currency fair value exposure of foreign currency denominated assets as fair value hedges when they meet the requirements of the general accounting principles for Derivatives and Hedging. The gain or loss on the hedged item attributable to a change in foreign currency and the offsetting gain or loss on the related foreign currency swaps as of June 30, 2022 and 2021 were (dollars in millions):


Type of Fair Value Hedge	Hedged Item	Gains (Losses) Recognized for Derivatives		Gains (Losses) Recognized for Hedged Items
		Investment Related Gains (Losses)
For the three months ended June 30, 2022:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(8)	$	8
For the three months ended June 30, 2021:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(2)	$	2
For the six months ended June 30, 2022:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(1)	$	5
For the six months ended June 30, 2021:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(2)	$	3

Cash Flow Hedges

Certain derivative instruments are designated as cash flow hedges when they meet the requirements of the general accounting principles for Derivatives and Hedging. The Company designates and accounts for the following as cash flow hedges: (i) certain interest rate swaps, in which the cash flows of assets and liabilities are variable based on a benchmark rate; (ii) certain interest rate swaps, in which the cash flows of assets are denominated in different currencies, commonly referred to as cross-currency swaps; and (iii) forward bond purchase commitments.

The following tables present the components of AOCI, before income tax, and the condensed consolidated income statement classification where the gain or loss is recognized related to cash flow hedges for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


	Three months ended June 30,
	2022		2021
Balance, beginning of period	$	(81)	$	(71)
Gains (losses), net deferred in other comprehensive income (loss)	(128)		29

Amounts reclassified to investment income	2		—
Amounts reclassified to interest expense	1		2
Balance, end of period	$	(206)	$	(40)

	Six months ended June 30,
	2022		2021
Balance, beginning of period	$	(22)	$	(49)
Gains (losses), net deferred in other comprehensive income (loss)	(188)		5

Amounts reclassified to investment income	2		—
Amounts reclassified to interest expense	2		4
Balance, end of period	$	(206)	$	(40)

As of June 30, 2022, approximately $4 million of before-tax deferred net gains on derivative instruments recorded in AOCI are expected to be reclassified to interest expense during the next twelve months. For the same time period, there was an immaterial amount of before-tax deferred net gains recorded in AOCI expected to be reclassified to investment income during the next twelve months.

The following table presents the effect of derivatives in cash flow hedging relationships on the condensed consolidated statements of income and the condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


Derivative Type	Gains (Losses) Deferred in OCI		Gains (Losses) Reclassified into Income from AOCI
			Investment Income		Interest Expense
For the three months ended June 30, 2022:
Interest rate	$	(106)	$	—	$	(1)
Foreign currency/interest rate	(22)		(2)		—
Total	$	(128)	$	(2)	$	(1)
For the three months ended June 30, 2021:
Interest rate	$	29	$	—	$	(2)
Foreign currency/interest rate	—		—		—

Total	$	29	$	—	$	(2)

For the six months ended June 30, 2022:
Interest rate	$	(170)	$	—	$	(2)
Foreign currency/interest rate	(18)		(2)		—

Total	$	(188)	$	(2)	$	(2)
For the six months ended June 30, 2021:
Interest rate	$	6	$	—	$	(4)
Foreign currency/interest rate	(1)		—		—

Total	$	5	$	—	$	(4)

For the three and six months ended June 30, 2022 and 2021, there were no material amounts reclassified into earnings relating to instances in which the Company discontinued cash flow hedge accounting because the forecasted transaction did not occur by the anticipated date or within the additional time period permitted by the authoritative guidance for the accounting for derivatives and hedging.

Hedges of Net Investments in Foreign Operations

The Company uses foreign currency swaps and foreign currency forwards to hedge a portion of its net investment in certain foreign operations against adverse movements in exchange rates. The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges and the gains (losses) deferred in OCI for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


	Derivative Gains (Losses) Deferred in OCI
	Three months ended June 30,				Six months ended June 30,
Type of NIFO Hedge	2022		2021		2022		2021
Foreign currency swaps	$	1	$	(2)	$	1	$	(3)
Foreign currency forwards	38		(10)		22		(24)
Total	$	39	$	(12)	$	23	$	(27)

The cumulative foreign currency translation gain recorded in AOCI related to these hedges was $160 million and $137 million at June 30, 2022 and December 31, 2021, respectively. If a hedged foreign operation was sold or substantially liquidated, the amounts in AOCI would be reclassified to the condensed consolidated statements of income. A pro rata portion would be reclassified upon partial sale of a hedged foreign operation. There were no sales or substantial liquidations of net investments in foreign operations that would have required the reclassification of gains or losses from AOCI into investment income during the periods presented.

Non-qualifying Derivatives and Derivatives for Purposes Other Than Hedging

The Company uses various other derivative instruments for risk management purposes that either do not qualify or have not been elected for hedge accounting treatment. The gain or loss related to the change in fair value for these derivative instruments is recognized in investment related gains (losses), net, except where otherwise noted.

A summary of the effect of non-hedging derivatives, including embedded derivatives, on the Company’s condensed consolidated statements of income for the three and six months ended June 30, 2022 and 2021 is as follows (dollars in millions):


		Three months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2022		2021
Interest rate swaps	Investment related gains (losses), net	$	(44)	$	33
Interest rate options	Investment related gains (losses), net	(6)		—
Financial futures	Investment related gains (losses), net	24		(9)
Foreign currency swaps	Investment related gains (losses), net	11		3
Foreign currency forwards	Investment related gains (losses), net	(76)		(1)
CPI swaps	Investment related gains (losses), net	(11)		3
Credit default swaps	Investment related gains (losses), net	(33)		12
Equity options	Investment related gains (losses), net	21		(11)


Subtotal		(114)		30
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	(56)		16

Indexed annuity products	Interest credited	44		(13)
Variable annuity products	Investment related gains (losses), net	(12)		(17)
Total non-hedging derivatives		$	(138)	$	16

		Six months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2022		2021
Interest rate swaps	Investment related gains (losses), net	$	(96)	$	(37)
Interest rate options	Investment related gains (losses), net	(6)		—
Financial futures	Investment related gains (losses), net	31		(19)
Foreign currency swaps	Investment related gains (losses), net	18		12
Foreign currency forwards	Investment related gains (losses), net	(99)		(9)
CPI swaps	Investment related gains (losses), net	18		21
Credit default swaps	Investment related gains (losses), net	(91)		32
Equity options	Investment related gains (losses), net	21		(21)


Subtotal		(204)		(21)
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	(89)		66

Indexed annuity products	Interest credited	80		1
Variable annuity products	Investment related gains (losses), net	2		1
Total non-hedging derivatives		$	(211)	$	47

Credit Derivatives

The following table presents the estimated fair value, maximum amount of future payments and weighted average years to maturity of credit default swaps sold by the Company at June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022					December 31, 2021
Rating Agency Designation of Referenced Credit Obligations(1)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps(2)		Weighted Average Years to Maturity(3)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps(2)		Weighted Average Years to Maturity(3)
AAA/AA+/AA/AA-/A+/A/A-
Single name credit default swaps	$	(23)	$	477	17.2	$	28	$	600	14.2
Subtotal	(23)		477		17.2	28		600		14.2
BBB+/BBB/BBB-
Single name credit default swaps	—		158		3.7	1		141		2.4
Credit default swaps referencing indices	(1)		1,015		6.6	—		565		5.1
Subtotal	(1)		1,173		6.2	1		706		4.6
BB+/BB/BB-
Single name credit default swaps	(2)		25		3.7	(1)		15		3.5
Subtotal	(2)		25		3.7	(1)		15		3.5
Total	$	(26)	$	1,675	9.3	$	28	$	1,321	9.0

(1)The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).

(2)Assumes the value of the referenced credit obligations is zero.

(3)The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Netting Arrangements and Credit Risk

Certain of the Company’s derivatives are subject to enforceable master netting arrangements and reported as a net asset or liability in the condensed consolidated balance sheets. The Company nets all derivatives that are subject to such arrangements.

The Company has elected to include all derivatives, except embedded derivatives, in the table below, irrespective of whether they are subject to an enforceable master netting arrangement or a similar agreement. See Note 4 – “Investments” for information regarding the Company’s securities borrowing, lending and repurchase/reverse repurchase agreements.

The following table provides information relating to the netting of the Company’s derivative instruments as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments/ Collateral (1)		Net Amount
June 30, 2022:
Derivative assets	$	148	$	(33)	$	115	$	(115)	$	—
Derivative liabilities	299		(33)		266		(266)		—
December 31, 2021:
Derivative assets	$	194	$	(19)	$	175	$	(175)	$	—
Derivative liabilities	58		(19)		39		(39)		—

(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.

The Company may be exposed to credit-related losses in the event of non-performance by counterparties to derivative financial instruments. Generally, the credit exposure of the Company’s derivative contracts is limited to the fair value and accrued interest of non-collateralized derivative contracts in an asset position at the reporting date. As of June 30, 2022, the Company had credit exposure of $15 million.

Derivatives may be exchange-traded or they may be privately negotiated contracts, which are referred to as over-the-counter (“OTC”) derivatives. Certain of the Company’s OTC derivatives are cleared and settled through central clearing counterparties (“OTC cleared”) and others are bilateral contracts between two counterparties. The Company manages its credit risk related to OTC derivatives by entering into transactions with creditworthy counterparties, maintaining collateral arrangements and through the use of master netting agreements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination. The Company is only exposed to the default of the central clearing counterparties for OTC cleared derivatives, and these transactions require initial and daily variation margin collateral postings. Exchange-traded

derivatives are settled on a daily basis, thereby reducing the credit risk exposure in the event of non-performance by counterparties to such financial instruments.

Fair Value of Assets and Liabilities

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Value of Assets and Liabilities

Fair Value Measurement

General accounting principles for Fair Value Measurements and Disclosures define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. These principles also establish a three-level fair value hierarchy that requires an entity to maximize the use of observable inputs and to minimize the use of unobservable inputs when measuring fair value:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. Active markets are defined through various characteristics for the measured asset/liability, such as having many transactions and narrow bid/ask spreads.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or market standard valuation techniques and assumptions that use significant inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the related assets or liabilities and include those whose value is determined using market standard valuation techniques described above. Prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques that require management’s judgment or estimation in developing inputs that are consistent with those other market participants would use when pricing similar assets and liabilities.

For a discussion of the Company’s valuation methodologies for assets and liabilities measured at fair value and the fair value hierarchy, see Note 6 – “Fair Value of Assets and Liabilities” in the Notes to Consolidated Financial Statements included in the Company’s 2021 Annual Report.

Assets and Liabilities by Hierarchy Level

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 are summarized below (dollars in millions):


June 30, 2022:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	34,374	$	—	$	30,136	$	4,238
Canadian government	3,809		—		3,809		—
RMBS	950		—		944		6
ABS	3,782		—		2,624		1,158
CMBS	1,735		—		1,652		83
U.S. government	962		862		90		10
State and political subdivisions	1,116		—		1,083		33
Other foreign government	6,566		—		6,530		36
Total fixed maturity securities – available-for-sale	53,294		862		46,868		5,564
Equity securities	127		80		—		47
Funds withheld at interest – embedded derivatives	(174)		—		—		(174)
Funds withheld at interest	62		—		—		62
Cash equivalents	1,156		1,156		—		—
Short-term investments	234		171		42		21
Other invested assets:
Derivatives	115		—		115		—










Other	33		—		33		—
Total other invested assets (1)	148		—		148		—

Total	$	54,847	$	2,269	$	47,058	$	5,520
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	744	$	—	$	—	$	744
Other liabilities:
Funds withheld at interest – embedded derivatives	(250)		—		—		(250)
Derivatives	266		—		266		—








Total	$	760	$	—	$	266	$	494

(1)Other invested assets included in the fair value hierarchy exclude limited partnership interests that are measured at estimated fair value using the net asset value (“NAV”) per share (or its equivalent) as a practical expedient. As of June 30, 2022, the fair value of such investments was $620 million.


December 31, 2021:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	38,103	$	—	$	34,215	$	3,888
Canadian government	4,944		—		4,944		—
RMBS	1,050		—		1,049		1
ABS	4,005		—		2,908		1,097
CMBS	1,849		—		1,768		81
U.S. government	2,105		1,993		100		12
State and political subdivisions	1,323		—		1,290		33
Other foreign government	7,370		—		7,337		33
Total fixed maturity securities – available-for-sale	60,749		1,993		53,611		5,145
Equity securities	151		101		—		50
Funds withheld at interest – embedded derivatives	104		—		—		104
Funds withheld at interest	83		—		—		83
Cash equivalents	1,138		1,138		—		—
Short-term investments	64		—		36		28
Other invested assets:
Derivatives	175		—		175		—








Other	52		—		52		—


Total other invested assets (1)	227		—		227		—

Total	$	62,516	$	3,232	$	53,874	$	5,410
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	855	$	—	$	—	$	855
Other liabilities:
Funds withheld at interest – embedded derivatives	(61)		—		—		(61)
Derivatives	39		—		39		—










Total	$	833	$	—	$	39	$	794

(1)Other invested assets included in the fair value hierarchy exclude limited partnership interests that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of December 31, 2021, the fair value of such investments was $581 million.

Quantitative Information Regarding Internally Priced Assets and Liabilities

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, 2022 and December 31, 2021 (dollars in millions):


	Estimated Fair Value				Valuation Technique	Unobservable Inputs	Range (Weighted Average)
	June 30, 2022		December 31, 2021				June 30, 2022	December 31, 2021
Assets:
Corporate	$	35	$	49	Market comparable securities	Liquidity premium	1%	0-1% (1%)
						EBITDA Multiple	5.0x-7.0x (6.5x)	5.2x-7.0x (6.4x)
ABS	233		205		Market comparable securities	Liquidity premium	0-18% (3%)	2-18% (4%)
U.S. government	10		12		Market comparable securities	Liquidity premium	0-1% (1%)	0-1% (1%)


Equity securities	6		5		Market comparable securities	EBITDA Multiple	6.9x-11.2x (8.5x)	6.9x-10.6x (8.0x)
Funds withheld at interest – embedded derivatives	61		182		Total return swap	Mortality	0-100% (3%)	0-100% (3%)
						Lapse	0-35% (12%)	0-35% (18%)
						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 annuities	584		693		Discounted cash flow	Mortality	0-100% (3%)	0-100% (2%)
						Lapse	0-35% (11%)	0-35% (16%)
						Withdrawal	0-5% (3%)	0-5% (3%)
						Option budget projection	1-4% (2%)	1-4% (2%)
Interest-sensitive contract liabilities – embedded derivatives – variable annuities	160		162		Discounted cash flow	Mortality	0-100% (2%)	0-100% (2%)
						Lapse	0-25% (4%)	0-25% (4%)
						Withdrawal	0-7% (6%)	0-7% (5%)
						CVA	0-5% (1%)	0-5% (1%)
						Long-term volatility	0-27% (14%)	0-27% (14%)

Changes in Level 3 Assets and Liabilities

Assets and liabilities transferred into Level 3 are due to a lack of observable market transactions and price information. Transfers out of Level 3 are primarily the result of the Company obtaining observable pricing information or a third party pricing quotation that appropriately reflects the fair value of those assets and liabilities.

For further information on the Company’s valuation processes, see Note 6 – “Fair Value of Assets and Liabilities” in the Notes to Consolidated Financial Statements included in the Company’s 2021 Annual Report.

The reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows (dollars in millions):


For the 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
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	4,046	$	29	$	1,121	$	44	$	48	$	48	$	132	$	75	$	(793)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	2		—		—		—		—		—		—		(5)		—
Investment related gains (losses), net	(6)		—		—		—		(5)		1		(56)		—		(12)

Interest credited	—		—		—		—		—		—		—		—		44

Included in other comprehensive income (loss)	(157)		(6)		(73)		(3)		—		(1)		—		(5)		—

Purchases(2)	571		—		207		—		4		1		—		2		—
Sales(2)	(108)		—		—		(1)		—		—		—		—		—
Settlements(2)	(153)		—		(21)		(1)		—		(28)		—		(5)		17
Transfers into Level 3	57		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	$	(744)
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)		—		(13)


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.


For the 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
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,888	$	33	$	1,179	$	45	$	50	$	28	$	165	$	83	$	(855)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	3		—		—		—		—		—		—		(10)		—
Investment related gains (losses), net	(6)		—		(5)		—		(6)		1		(89)		—		2

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 3	57		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	$	(744)
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)				(1)


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.


For the three months ended June 30, 2021:	Fixed maturity securities – available-for-sale												Funds withheld at interest – embedded derivatives		Funds withheld at interest		Interest-sensitive contract liabilities – embedded derivatives
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,101	$	16	$	388	$	22	$	54	$	11	$	109	$	67	$	(857)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	2		—		—		—		—		—		—		(1)		—
Investment related gains (losses), net	2		—		—		—		10		—		16		—		(17)

Interest credited	—		—		—		—		—		—		—		—		(13)

Included in other comprehensive income (loss)	49		—		5		—		—		—		—		—		—

Purchases(1)	317		25		262		—		—		—		—		16		(13)
Sales(1)	(19)		—		(2)		—		(1)		—		—		—		—
Settlements(1)	(269)		—		(24)		(1)		—		(10)		—		(1)		20
Transfers into Level 3	25		—		24		—		—		—		—		—		—
Transfers out of Level 3	—		—		—		—		—		(1)		—		—		—
Fair value, end of period	$	3,208	$	41	$	653	$	21	$	63	$	—	$	125	$	81	$	(880)
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	$	—	$	—	$	—	$	—	$	—	$	—	$	(1)	$	—
Investment related gains (losses), net	—		—		—		—		9		—		16		—		(19)


Interest credited	—		—		—		—		—		—		—		—		(33)
Included in other comprehensive income (loss)	51		—		5		—		—		—		—		—		—

(1)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.


For the six months ended June 30, 2021:	Fixed maturity securities – available-for-sale												Funds withheld at interest – embedded derivatives		Funds withheld at interest		Interest-sensitive contract liabilities – embedded derivatives
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,029	$	17	$	254	$	23	$	53	$	15	$	58	$	56	$	(907)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	3		—		—		—		—		—		—		(6)		—
Investment related gains (losses), net	1		—		—		—		11		—		66		—		1

Interest credited	—		—		—		—		—		—		—		—		1

Included in other comprehensive income (loss)	(33)		(1)		4		—		—		—		1		—		—

Purchases(1)	540		25		428		—		—		—		—		32		(17)
Sales(1)	(20)		—		(2)		—		(1)		—		—		—		—
Settlements(1)	(341)		—		(85)		(2)		—		(10)		—		(1)		42
Transfers into Level 3	29		—		54		—		—		—		—		—		—
Transfers out of Level 3	—		—		—		—		—		(5)		—		—		—
Fair value, end of period	$	3,208	$	41	$	653	$	21	$	63	$	—	$	125	$	81	$	(880)
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	$	—	$	—	$	—	$	—	$	—	$	—	$	(6)	$	—
Investment related gains (losses), net	(1)		—		—		—		10		—		66		—		(3)


Interest credited	—		—		—		—		—		—		—		—		(41)
Included in other comprehensive income (loss)	(31)		(1)		4		—		—		—		1		—		—

Nonrecurring Fair Value Measurements

The Company has certain assets subject to measurement at fair value on a nonrecurring basis, in periods subsequent to their initial recognition if they are determined to be impaired. During the six months ended June 30, 2022 and 2021, the Company did not have any material assets that were measured at fair value due to impairment.

Fair Value of Financial Instruments

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, 2022 and December 31, 2021 (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 2021 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, 2022:	Carrying Value (1)		Estimated Fair Value		Fair Value Measurement Using:
					Level 1		Level 2		Level 3
Assets:
Mortgage loans	$	6,544	$	6,051	$	—	$	—	$	6,051
Policy loans	1,218		1,218		—		1,218		—
Funds withheld at interest	6,519		6,335		—		—		6,335
Cash and cash equivalents	1,400		1,400		1,400		—		—
Short-term investments	38		38		38		—		—
Other invested assets	924		805		5		60		740
Accrued investment income	572		572		—		572		—
Liabilities:
Interest-sensitive contract liabilities	$	21,836	$	21,399	$	—	$	—	$	21,399
Other liabilities – funds withheld at interest	1,610		1,417						1,417
Long-term debt	3,667		3,463		—		—		3,463
Collateral finance and securitization notes	152		129		—		—		129

December 31, 2021:	Carrying Value (1)		Estimated Fair Value		Fair Value Measurement Using:
					Level 1		Level 2		Level 3
Assets:
Mortgage loans	$	6,283	$	6,580	$	—	$	—	$	6,580
Policy loans	1,234		1,234		—		1,234		—
Funds withheld at interest	6,747		7,075		—		—		7,075
Cash and cash equivalents	1,810		1,810		1,810		—		—
Short-term investments	23		23		23		—		—
Other invested assets	910		907		6		70		831
Accrued investment income	533		533		—		533		—
Liabilities:
Interest-sensitive contract liabilities	$	18,625	$	19,540	$	—	$	—	$	19,540
Other liabilities – funds withheld at interest	1,658		1,657		—		—		1,657
Long-term debt	3,667		3,886		—		—		3,886
Collateral finance and securitization notes	180		153		—		—		153

(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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

The accounting policies of the segments are the same as those described in Note 2 – “Significant Accounting Policies and Pronouncements” in the Notes to Consolidated Financial Statements included in the Company’s 2021 Annual Report. The Company measures segment performance primarily based on profit or loss from operations before income taxes. There are no intersegment reinsurance transactions and the Company does not have any material long-lived assets.

The Company allocates capital to its segments based on an internally developed economic capital model, the purpose of which is to measure the risk in the business and to provide a basis upon which capital is deployed. The economic capital model considers the unique and specific nature of the risks inherent in the Company’s businesses. As a result of the economic capital allocation process, a portion of investment income is attributed to the segments based on the level of allocated capital. In addition, the segments are charged for excess capital utilized above the allocated economic capital basis. This charge is included in policy acquisition costs and other insurance expenses.

The Company has geographic-based and business-based operational segments. Geographic-based operations are further segmented into traditional and financial solutions businesses. Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in millions).


	Three months ended June 30,				Six months ended June 30,
Revenues:	2022		2021		2022		2021
U.S. and Latin America:
Traditional	$	1,868	$	1,816	$	3,735	$	3,453
Financial Solutions	278		433		530		751
Total	2,146		2,249		4,265		4,204
Canada:
Traditional	367		366		729		709
Financial Solutions	27		26		52		52
Total	394		392		781		761
Europe, Middle East and Africa:
Traditional	447		459		923		916
Financial Solutions	134		139		316		285
Total	581		598		1,239		1,201
Asia Pacific:
Traditional	686		653		1,374		1,300
Financial Solutions	43		104		64		208
Total	729		757		1,438		1,508
Corporate and Other	37		141		94		582
Total	$	3,887	$	4,137	$	7,817	$	8,256


	Three months ended June 30,				Six months ended June 30,
Income (loss) before income taxes:	2022		2021		2022		2021
U.S. and Latin America:
Traditional	$	209	$	135	$	43	$	(203)
Financial Solutions	61		186		105		269
Total	270		321		148		66
Canada:
Traditional	16		32		22		56
Financial Solutions	4		4		17		10
Total	20		36		39		66
Europe, Middle East and Africa:
Traditional	2		(12)		(4)		(80)
Financial Solutions	33		83		118		143
Total	35		71		114		63
Asia Pacific:
Traditional	58		(12)		109		29
Financial Solutions	(66)		31		(122)		59
Total	(8)		19		(13)		88
Corporate and Other	(63)		35		(94)		385
Total	$	254	$	482	$	194	$	668


Assets:	June 30, 2022		December 31, 2021
U.S. and Latin America:
Traditional	$	21,508	$	20,572
Financial Solutions	26,201		29,028
Total	47,709		49,600
Canada:
Traditional	5,026		5,091
Financial Solutions	34		18
Total	5,060		5,109
Europe, Middle East and Africa:
Traditional	4,506		4,670
Financial Solutions	5,313		7,165
Total	9,819		11,835
Asia Pacific:
Traditional	9,196		10,048
Financial Solutions	9,494		7,678
Total	18,690		17,726
Corporate and Other	3,331		7,905
Total	$	84,609	$	92,175

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 26
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Commitments, Contingencies and Guarantees

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Commitments, Contingencies and Guarantees

Commitments

Funding of Investments

The Company’s commitments to fund investments as of June 30, 2022 and December 31, 2021 are presented in the following table (dollars in millions):


	June 30, 2022		December 31, 2021
Limited partnership interests and joint ventures	$	1,030	$	1,031
Mortgage loans	102		152
Bank loans and private placements	786		768
Lifetime mortgages	96		41

The Company anticipates that the majority of its current commitments will be invested over the next five years; however, these commitments could become due any time at the request of the counterparties. Bank loans and private placements are included in fixed maturity securities available-for-sale.

The Company has an immaterial liability, included in other liabilities, for expected credit losses associated with unfunded commitments as of June 30, 2022 and December 31, 2021.

Funding Agreements

Federal Home Loan Bank (“FHLB”) of Des Moines

The Company is a member of the FHLB and, through membership, has issued funding agreements to the FHLB in exchange for cash advances. As of June 30, 2022 and December 31, 2021, the Company had $1.2 billion and $1.4 billion, respectively, of FHLB funding agreements outstanding. The Company is required to provide collateral in excess of the funding agreement amounts outstanding, considering any discounts to the securities posted and prepayment penalties.

Funding Agreement Backed Notes

The Company’s Funding Agreement Backed Notes (“FABN”) program allows RGA Global Funding, a special-purpose, unaffiliated statutory trust, to offer its senior secured medium-term notes to investors. RGA Global Funding uses the net proceeds from each sale to purchase one or more funding agreements from the Company. As of June 30, 2022 and December 31, 2021, the Company had $900 million and $500 million, respectively, of FABN agreements outstanding and are included within interest-sensitive contract liabilities.

Contingencies

Litigation

The Company is subject to litigation in the normal course of its business, however, the Company currently has no material litigation. A legal reserve is established when the Company is notified of an arbitration demand or litigation or is notified that

an arbitration demand or litigation is imminent, it is probable that the Company will incur a loss as a result and the amount of the probable loss is reasonably capable of being estimated.

Other Contingencies

The Company indemnifies its directors and officers as provided in its charters and by-laws. Since this indemnity generally is not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount due under this indemnity in the future.

Guarantees

Statutory Reserve Support

Certain RGA subsidiaries have committed to provide statutory reserve support to third parties, in exchange for a fee, by funding loans if certain defined events occur. Such statutory reserves are required under the U.S. Valuation of Life Policies Model Regulation (commonly referred to as Regulation XXX for term life insurance policies and Regulation A-XXX for universal life secondary guarantees).

In addition, certain subsidiaries have also committed to provide capital support to a third party, in exchange for a fee, by agreeing to assume real estate leases in the event of a severe and prolonged decline in the commercial lease market. Upon assumption of a lease, the Company would recognize a right to use asset and lease obligation.

As of June 30, 2022, the Company does not believe that it will be required to provide any funding under these commitments as the occurrence of the defined events is considered remote. The following table presents the maximum potential obligation for these commitments as of June 30, 2022 (dollars in millions):


Commitment Period:	Maximum Potential Obligation
2034	$	1,243
2035	2,660
2036	3,599
2037	6,850
2038	2,300
2039	7,350
2046	3,000

Other Guarantees

RGA has issued guarantees to third parties on behalf of its subsidiaries for the payment of amounts due under certain securities borrowing and repurchase arrangements, financing arrangements and office lease obligations, whereby, if a subsidiary fails to meet an obligation, RGA or one of its other subsidiaries will make a payment to fulfill the obligation. Additionally, in limited circumstances, treaty guarantees are granted to ceding companies in order to provide them additional security, particularly in cases where RGA’s subsidiary is relatively new, unrated, or not of a significant size, relative to the ceding company. Liabilities supported by the treaty guarantees, before consideration of any legally offsetting amounts due from the guaranteed party are reflected on the Company’s condensed consolidated balance sheets in future policy benefits. Potential guaranteed amounts of future payments will vary depending on production levels and underwriting results. Guarantees related to securities borrowing and repurchase arrangements provide additional security to third parties should a subsidiary fail to provide securities when due. RGA’s guarantees issued as of June 30, 2022 and December 31, 2021, are reflected in the following table (dollars in millions):


	June 30, 2022		December 31, 2021
Treaty guarantees	$	1,946	$	2,208
Treaty guarantees, net of assets in trust	1,139		1,281
Securities borrowing and repurchase arrangements	170		134

Income Tax	6 Months Ended
Income Tax	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income Tax For the three and six months ended June 30, 2022, the effective tax rate on pre-tax income was 22.1% and 30.1%, respectively. The Company’s effective tax rate for the three and six months ended June 30, 2022, differed from the U.S. statutory rate of 21% primarily due to income earned in jurisdictions with tax rates higher than the U.S., tax bases adjustments, and adjustments to the valuation allowance. For the three and six months ended June 30, 2021, the effective tax rate on pre-tax income was 28.5% and 27.6%, respectively. The Company’s effective tax rate for the three and six months ended June 30, 2021, differed from the U.S. statutory rate of 21% primarily due to income earned in jurisdictions with tax rates higher than the U.S., state income taxes, and the effect of the enacted UK corporate tax rate increase on the remeasurement of deferred taxes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

The components of net periodic benefit cost, included in other operating expenses on the Company’s condensed consolidated statements of income, for the three and six months ended June 30, 2022 and 2021 were as follows (dollars in millions):


	Pension Benefits				Other Benefits
	Three months ended June 30,				Three months ended June 30,
	2022		2021		2022		2021
Service cost	$	4	$	5	$	—	$	1
Interest cost	2		1		1		1
Expected return on plan assets	(3)		(3)		—		—
Amortization of prior service cost (credit)	—		—		(1)		(1)
Amortization of prior actuarial losses	1		2		1		1
Net periodic benefit cost	$	4	$	5	$	1	$	2


	Pension Benefits				Other Benefits
	Six months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Service cost	$	8	$	9	$	1	$	2
Interest cost	3		2		1		1
Expected return on plan assets	(6)		(5)		—		—
Amortization of prior service cost (credit)	—		—		(1)		(1)
Amortization of prior actuarial losses	2		3		1		1
Net periodic benefit cost	$	7	$	9	$	2	$	3

- Definition

The entire disclosure for retirement benefits.

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+ Details

Reinsurance

6 Months Ended

Jun. 30, 2022

Retrocession Arrangements And Reinsurance Ceded Receivables [Abstract]

Retrocession Arrangements and Reinsurance Ceded Receivables

Reinsurance Ceded Receivables and Other

Retrocession reinsurance treaties do not relieve the Company from its obligations to direct writing companies. Failure of retrocessionaires to honor their obligations could result in losses to the Company. Consequently, allowances would be established for amounts deemed uncollectible. At June 30, 2022 and December 31, 2021, no allowances were deemed necessary. The Company regularly evaluates the financial condition of the insurance companies from which it assumes and to which it cedes reinsurance.

Retrocessions are arranged through the Company’s retrocession pools for amounts in excess of the Company’s retention limit. As of June 30, 2022 and December 31, 2021, all rated retrocession pool participants followed by the A.M. Best Company were rated “A- (excellent)” or better. The Company verifies retrocession pool participants’ ratings on a quarterly basis. For a majority of the retrocessionaires that were not rated, security in the form of letters of credit or trust assets has been posted. In addition, the Company performs annual financial reviews of its retrocessionaires to evaluate financial stability and performance.

The following table presents information for the Company’s reinsurance ceded receivable assets, including the respective amount and A.M. Best rating for each reinsurer representing in excess of five percent of the total as of June 30, 2022 or December 31, 2021 (dollars in millions):


		June 30, 2022				December 31, 2021
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A-	$	1,611	63.0	%	$	1,626	63.0	%
Reinsurer B	A+	431		16.8		423		16.4
Reinsurer C	A+	208		8.1		212		8.2
Reinsurer D	A	59		2.3		59		2.3
Reinsurer E	A++	47		1.8		42		1.6
Reinsurer F	A+	44		1.7		44		1.7
Other reinsurers		158		6.3		174		6.8
Total		$	2,558	100.0	%	$	2,580	100.0	%

Included in the total reinsurance ceded receivables and other balance were $215 million and $203 million of claims recoverable, of which $10 million and $10 million were in excess of 90 days past due, as of June 30, 2022 and December 31, 2021, respectively. Also included in the total reinsurance ceded receivable and other is a deposit asset on reinsurance of $1,611 million and $1,626 million as of June 30, 2022 and December 31, 2021, respectively.

Policy Claims and Benefits

6 Months Ended

Jun. 30, 2022

Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]

Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]

Policy Claims and Benefits

Rollforward of Claims and Claim Adjustment Expenses

The liability for unpaid claims is reported in future policy benefits and other policy claims and benefits on the Company’s condensed consolidated balance sheets. Activity associated with unpaid claims is summarized below (dollars in millions):


	Six Months Ended June 30,
	2022		2021
Balance, beginning of period	$	8,053	$	7,556
Less: reinsurance recoverable	(556)		(641)
Net balance, beginning of period	7,497		6,915
Incurred:
Current year	6,813		7,631
Prior years	(114)		(122)
Total incurred	6,699		7,509
Payments:
Current year	(2,009)		(2,747)
Prior years	(4,975)		(4,358)
Total payments	(6,984)		(7,105)
Other changes:
Interest accretion	15		20
Foreign exchange adjustments	(233)		(38)
Total other changes	(218)		(18)

Net balance, end of period	6,994		7,302
Plus: reinsurance recoverable	573		674
Balance, end of period	$	7,567	$	7,976

Incurred claims associated with prior periods are primarily due to events, related to long-duration business, which were incurred in prior periods but were reported in the current period, and to a lesser extent, the development of short-duration business claims for prior years being different than were anticipated when the liabilities for unpaid claims were originally estimated. These trends have been considered in establishing the current year liability for unpaid claims.

New Accounting Standards	6 Months Ended
New Accounting Standards	Jun. 30, 2022
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New Accounting Standards Changes to the general accounting principles are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates to the FASB Accounting Standards Codification™. Accounting standards updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company’s condensed consolidated financial statements. Standards Adopted For information on the adoption of recent accounting guidance and their impact, if any, on the Company’s results of operations and financial position, see Note 2 – “Significant Accounting Policies and Pronouncements” of the Company’s 2021 Annual Report. Standards Not Yet Adopted In the first quarter of 2023, the Company will adopt Accounting Standards Update (“ASU”): ASU 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (“ASU 2018-12”). ASU 2018-12 updates certain requirements for the accounting for long-duration insurance contracts. •Cash flow assumptions and measuring liability for future policy benefits – ASU 2018-12 requires the Company to review its cash flow assumptions at least annually and update, when necessary, with the impact recognized in net income in the period of the change. Upon adoption, there will be an adjustment to retained earnings as a result of capping the net premium ratio at 100% and eliminating negative reserves on certain issue year cohorts. •Discount rate – The discount rate assumption is prescribed by ASU 2018-12 as an upper-medium (low credit risk) fixed-income yield and is required to be updated every quarter. The change in the liability as a result of updating the discount rate assumption is recognized in other comprehensive income (loss) (“OCI”). Upon adoption, there will be an adjustment to accumulated other comprehensive income (loss) as a result of remeasuring in force contract liabilities using current upper-medium grade fixed income instrument yields. The adjustment will largely reflect the difference between discount rates locked-in at contract inception versus current discount rates at transition. •Deferred policy acquisition costs and similar balances – Deferred policy acquisition costs (“DAC”) and other capitalized costs such as unearned revenue are amortized on a constant level or straight-line basis over the expected term of the contracts. Upon adoption, the Company expects an adjustment to accumulated other comprehensive income (loss) for the removal of cumulative adjustments to DAC associated with unrealized gains and losses previously recorded in accumulated other comprehensive income (loss). •Market risk benefits – Market risk benefits, which are contracts or contract features that provide protection to the policyholder from capital market risk and expose the Company to other-than-nominal capital market risk, are measured at fair value. The periodic change in fair value is recognized in net income with the exception of the periodic change in fair value related to the instrument-specific credit risk, which is recognized in OCI. Upon adoption, the Company expects an impact to (1) accumulated other comprehensive income (loss) for the cumulative effect of changes in the instrument-specific credit risk between contract issue date and transition date and (2) retained earnings for the difference between fair value and carrying value at the transition date, excluding the changes in the instrument-specific credit risk. The updated guidance for the cash flow assumptions, discount rate and deferred policy acquisition costs will be applied on a modified retrospective method as of the earliest period included in the financial statements; that is, to contracts in force as of January 1, 2021. The guidance for market risk benefits will be applied retrospectively as of January 1, 2021. The Company estimates the adoption of the new guidance will decrease previously reported retained earnings by approximately $1.0 billion to $1.3 billion, net of tax, and accumulated other comprehensive income (loss) by approximately $5.1 billion to $7.1 billion, net of tax, as of the transition date of January 1, 2021. In addition, the Company estimates the adoption of the new guidance will decrease previously reported retained earnings by approximately $0.5 billion to $0.8 billion, net of tax, and accumulated other comprehensive income (loss) by approximately $3.2 billion to $5.2 billion, net of tax, as of December 31, 2021. All amounts assume a tax rate of 24 percent. While the Company has substantially completed the necessary updates to its valuation models and other systems to implement the standard, the Company’s implementation of the new guidance is ongoing. The actual impact of adoption, including the actual tax rate, will be updated as the model validation, system testing and parallel runs continue through the remainder of 2022; therefore, the Company’s estimates are subject to change.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table sets forth the computation of basic and diluted earnings per share on net income (in millions, except per share information):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Earnings:
Net income	$	199	$	344	$	136	$	483
Less: Net income attributable to noncontrolling interest	1		—		1		—
Net income available to RGA, Inc. shareholders	$	198	$	344	$	135	$	483
Shares:
Weighted average outstanding shares	67		68		67		68
Equivalent shares from outstanding stock awards	1		1		1		1
Denominator for diluted calculation	68		69		68		69
Earnings per share:
Basic	$	2.95	$	5.06	$	2.01	$	7.11
Diluted	$	2.92	$	5.02	$	2.00	$	7.06

Equity (Tables)

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Schedule of Stock by Class [Table Text Block]

The changes in the number of common stock issued, held in treasury and outstanding are as follows for the periods indicated:


	Issued	Held In Treasury	Outstanding
Balance, December 31, 2021	85,310,598	18,139,868	67,170,730

Issuance of common stock	—	—	—
Common stock acquired	—	219,116	(219,116)
Stock-based compensation (1)	—	(55,654)	55,654
Balance, June 30, 2022	85,310,598	18,303,330	67,007,268


	Issued	Held In Treasury	Outstanding
Balance, December 31, 2020	85,310,598	17,353,697	67,956,901

Issuance of common stock	—	—	—
Common stock acquired	—	—	—
Stock-based compensation (1)	—	(40,036)	40,036
Balance, June 30, 2021	85,310,598	17,313,661	67,996,937

(1)Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs.

Components of Accumulated Other Comprehensive Income

The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2022 and 2021 are as follows (dollars in millions):


	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2021	$	(9)	$	3,701	$	(50)	$	3,642
Other comprehensive income (loss) before reclassifications	(4)		(9,459)		(3)		(9,466)
Amounts reclassified to (from) AOCI	—		308		2		310
Deferred income tax benefit (expense)	(26)		1,981		—		1,955

Balance, June 30, 2022	$	(39)	$	(3,469)	$	(51)	$	(3,559)


	Accumulated Currency Translation Adjustments		Unrealized Appreciation (Depreciation) of Investments(1)		Pension and Postretirement Benefits		Total
Balance, December 31, 2020	$	(69)	$	5,500	$	(72)	$	5,359
Other comprehensive income (loss) before reclassifications	55		(1,607)		(3)		(1,555)
Amounts reclassified to (from) AOCI	—		(154)		3		(151)
Deferred income tax benefit (expense)	(6)		394		—		388

Balance, June 30, 2021	$	(20)	$	4,133	$	(72)	$	4,041

Reclassification Out Of Accumulated Other Comprehensive Income

The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


	Amount Reclassified from AOCI
	Three months ended June 30,				Six months ended June 30,
Details about AOCI Components	2022		2021		2022		2021		Affected Line Item in Statements of Income
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities	$	(68)	$	26	$	(103)	$	183	Investment related gains (losses), net
Cash flow hedges – Interest rate	(2)		—		(2)		(2)		(1)
Cash flow hedges – Currency/Interest rate	(1)		(4)		(2)		(4)		(1)

Deferred policy acquisition costs attributed to unrealized gains and losses	(99)		19		(201)		(23)		(2)
Total	(170)		41		(308)		154
Provision for income taxes	35		(9)		64		(33)
Net unrealized gains (losses), net of tax	$	(135)	$	32	$	(244)	$	121
Amortization of defined benefit plan items:
Prior service cost (credit)	$	1	$	1	$	1	$	1	(3)
Actuarial gains (losses)	(2)		(3)		(3)		(4)		(3)
Total	(1)		(2)		(2)		(3)
Provision for income taxes	—		1		—		1
Amortization of defined benefit plans, net of tax	$	(1)	$	(1)	$	(2)	$	(2)

Total reclassifications for the period	$	(136)	$	31	$	(246)	$	119

(1)See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

(2)This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2021 Annual Report for additional details.

(3)This AOCI component is included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments [Abstract]

Debt Securities, Available-for-sale

The following tables provide information relating to investments in fixed maturity securities by type as of June 30, 2022 and December 31, 2021 (dollars in millions):


June 30, 2022:	Amortized Cost		Allowance for Credit Losses		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total
Available-for-sale:
Corporate	$	37,819	$	43	$	257	$	3,659	$	34,374	64.5	%
Canadian government	3,308		—		536		35		3,809		7.1
RMBS	1,004		—		8		62		950		1.8
ABS	4,091		5		3		307		3,782		7.1
CMBS	1,856		1		2		122		1,735		3.3
U.S. government	1,101		—		7		146		962		1.8
State and political subdivisions	1,202		—		21		107		1,116		2.1
Other foreign government	7,227		6		36		691		6,566		12.3
Total fixed maturity securities	$	57,608	$	55	$	870	$	5,129	$	53,294	100.0	%


December 31, 2021:	Amortized Cost		Allowance for Credit Losses		Unrealized Gains		Unrealized Losses		Estimated Fair Value		% of Total
Available-for-sale:
Corporate	$	35,239	$	26	$	3,084	$	194	$	38,103	62.8	%
Canadian government	3,339		—		1,606		1		4,944		8.1
RMBS	1,020		—		37		7		1,050		1.7
ABS	4,024		—		22		41		4,005		6.6
CMBS	1,790		1		66		6		1,849		3.0
U.S. government	2,082		—		31		8		2,105		3.5
State and political subdivisions	1,191		—		137		5		1,323		2.2
Other foreign government	7,188		4		273		87		7,370		12.1
Total fixed maturity securities	$	55,873	$	31	$	5,256	$	349	$	60,749	100.0	%

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

The following table includes fixed maturity securities pledged and received as collateral and assets in trust held to satisfy collateral requirements under derivative transactions and certain third-party reinsurance treaties as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities pledged as collateral	$	373	$	335	$	100	$	103
Fixed maturity securities received as collateral	n/a		1,591		n/a		1,922
Assets in trust held to satisfy collateral requirements	30,476		28,080		28,671		31,173

Concentration Risk Disclosure [Text Block]

The Company’s exposure to concentrations of credit risk from single issuers greater than 10% of the Company’s equity included securities of the U.S. government and its agencies as well as the securities disclosed below, as of June 30, 2022 and December 31, 2021 (dollars in millions).


	June 30, 2022				December 31, 2021
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Fixed maturity securities guaranteed or issued by:
Government of Japan	$	3,031	$	2,755	$	3,080	$	3,063
Canadian province of Quebec	1,390		1,747		1,377		2,347
Canadian province of Ontario	1,047		1,155		1,092		1,451

Investments Classified By Contractual Maturity Date


	Amortized Cost		Estimated Fair Value
Available-for-sale:
Due in one year or less	$	1,408	$	1,407
Due after one year through five years	9,847		9,730
Due after five years through ten years	11,466		10,701
Due after ten years	27,936		24,989
Structured securities	6,951		6,467
Total	$	57,608	$	53,294

Fixed Maturity Holdings Industry Types Weighted Average Credit Ratings [Table Text Block]

The tables below show the major sectors of the Company’s corporate fixed maturity holdings as of June 30, 2022 and December 31, 2021 (dollars in millions):


June 30, 2022:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	14,008	$	12,703	37.0	%
Industrial	19,152		17,526		51.0
Utility	4,659		4,145		12.0

Total	$	37,819	$	34,374	100.0	%

December 31, 2021:			Estimated
	Amortized Cost		Fair Value		% of Total
Finance	$	13,101	$	14,045	36.9	%
Industrial	17,857		19,375		50.8
Utility	4,281		4,683		12.3
Total	$	35,239	$	38,103	100.0	%

Financing Receivable, Allowance for Credit Loss [Table Text Block]

The following tables present the rollforward of the allowance for credit losses in fixed maturity securities by type for the six months ended June 30, 2022 and 2021 (dollars in millions):


	Six months ended June 30, 2022
	Corporate		ABS		CMBS		Other Foreign Government		Total
Balance, beginning of period	$	26	$	—	$	1	$	4	$	31
Credit losses recognized on securities for which credit losses were not previously recorded	18		5		—		1		24

Reductions for securities sold during the period	(6)		—		—		(1)		(7)
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period	5		—		—		2		7

Balance, end of period	$	43	$	5	$	1	$	6	$	55


	Six months ended June 30, 2021
	Corporate		ABS		CMBS		Other Foreign Government		Total
Balance, beginning of period	$	17	$	—	$	3	$	—	$	20
Credit losses recognized on securities for which credit losses were not previously recorded	2		—		1		4		7
Reductions for securities sold during the period	(8)		—		(2)		—		(10)
Additional increases or decreases for credit losses on securities that had an allowance recorded in a previous period	—		—		(1)		—		(1)
Balance, end of period	$	11	$	—	$	1	$	4	$	16

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value


	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
June 30, 2022:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate	$	25,035	$	3,170	$	1,124	$	327	$	26,159	$	3,497
Canadian government	359		29		13		6		372		35
RMBS	631		39		122		23		753		62
ABS	2,850		244		640		45		3,490		289
CMBS	1,523		111		39		4		1,562		115
U.S. government	839		137		24		9		863		146
State and political subdivisions	789		100		27		7		816		107
Other foreign government	4,348		469		795		145		5,143		614
Total investment grade securities	36,374		4,299		2,784		566		39,158		4,865
Below investment grade securities:
Corporate	1,234		137		103		25		1,337		162


ABS	61		9		8		2		69		11
CMBS	29		3		11		1		40		4

Other foreign government	170		28		115		49		285		77
Total below investment grade securities	1,494		177		237		77		1,731		254
Total fixed maturity securities	$	37,868	$	4,476	$	3,021	$	643	$	40,889	$	5,119


	Less than 12 months				12 months or greater				Total
			Gross				Gross				Gross
December 31, 2021:	Estimated		Unrealized		Estimated		Unrealized		Estimated		Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
Investment grade securities:
Corporate	$	4,135	$	86	$	946	$	51	$	5,081	$	137
Canadian government	20		1		—		—		20		1
RMBS	132		3		102		4		234		7
ABS	1,747		22		589		6		2,336		28
CMBS	152		2		35		2		187		4
U.S. government	1,513		6		31		2		1,544		8
State and political subdivisions	109		3		28		2		137		5
Other foreign government	2,237		33		724		37		2,961		70
Total investment grade securities	10,045		156		2,455		104		12,500		260
Below investment grade securities:
Corporate	463		13		97		44		560		57


ABS	—		—		13		13		13		13
CMBS	—		—		—		—		—		—

Other foreign government	136		7		75		10		211		17
Total below investment grade securities	599		20		185		67		784		87
Total fixed maturity securities	$	10,644	$	176	$	2,640	$	171	$	13,284	$	347

Investment Income

Major categories of net investment income consist of the following (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Fixed maturity securities available-for-sale	$	559	$	516	$	1,092	$	1,011
Equity securities	1		1		3		3
Mortgage loans	76		73		149		139
Policy loans	14		13		27		27
Funds withheld at interest	57		95		108		179
Short-term investments and cash and cash equivalents	2		—		4		1
Other invested assets – limited partnerships and real estate joint ventures	77		70		238		231
Other invested assets – all other	—		17		2		30
Investment income	786		785		1,623		1,621
Investment expense	(32)		(26)		(59)		(50)
Net investment income	$	754	$	759	$	1,564	$	1,571

Gain Loss On Investments

Investment related gains (losses), net consist of the following (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Fixed maturity securities available-for-sale:
Change in allowance for credit losses and impairments	$	(15)	$	5	$	(27)	$	3
Realized gains on investment activity	34		53		45		220
Realized losses on investment activity	(94)		(30)		(130)		(43)
Net gains (losses) on equity securities	(15)		20		(23)		23
Other impairment losses and change in mortgage loan allowance for credit losses	(1)		3		(3)		21
Change in fair value of certain limited partnership investments and other, net	19		32		45		143
Net gains (losses) on derivatives	(182)		29		(287)		47
Total investment related gains (losses), net	$	(254)	$	112	$	(380)	$	414

Schedule of Repurchase Agreements [Table Text Block]

The following table provides information relating to securities borrowing, lending and repurchase/reverse repurchase agreements as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022			December 31, 2021
	Amortized Cost	Estimated Fair Value		Amortized Cost	Estimated Fair Value
Securities borrowing agreements:
Securities borrowed (1)	n/a	$	676	n/a	$	420
Securities pledged as collateral (2)	529	466		279	290
Securities lending agreements:
Securities loaned (2)	82	81		94	102
Securities received as collateral (3)	n/a	92		n/a	102
Repurchase/reverse repurchase agreements:
Securities pledged (2)	643	593		704	736
Cash (4)	—	—		10	10
Securities received (3)	n/a	565		n/a	728
Cash received (5)	162	162		—	—

Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets [Table Text Block]

June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30 – 90 Days		Greater than 90 Days		Total
Securities lending agreements:
Corporate	$	—	$	—	$	—	$	68	$	68
State and political subdivisions	—		—		—		3		3
Other foreign government	—		—		—		10		10
Total	—		—		—		81		81
Repurchase agreements:
Corporate	—		—		51		289		340
Other foreign government	—		—		7		246		253
Total	—		—		58		535		593
Total agreements	$	—	$	—	$	58	$	616	$	674


	December 31, 2021
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to 30 Days		30 – 90 Days		Greater than 90 Days		Total
Securities lending agreements:
Corporate	$	—	$	—	$	—	$	94	$	94
State and political subdivisions	—		—		—		3		3
Other foreign government	—		—		—		5		5
Total	—		—		—		102		102
Repurchase agreements:
Corporate	—		—		—		366		366
Other foreign government	—		—		—		370		370
Total	—		—		—		736		736
Total agreements	$	—	$	—	$	—	$	838	$	838

Disclosure Of Real Estate Holdings By Property Type [Table Text Block]

The following table presents the distribution of the Company’s recorded investment in mortgage loans by property type as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
Property type:	Carrying Value		% of Total		Carrying Value		% of Total
Office	$	1,729	26.2	%	$	1,683	26.6	%
Retail	2,319		35.1		2,090		33.0
Industrial	1,415		21.5		1,249		19.7
Apartment	776		11.8		801		12.7
Other commercial	355		5.4		506		8.0
Recorded investment	6,594		100.0	%	6,329		100.0	%
Unamortized balance of loan origination fees and expenses	(12)				(11)
Allowance for credit losses	(38)				(35)
Total mortgage loans	$	6,544			$	6,283

Mortgage Loans Classified By Contractual Maturity Date [Table Text Block]

The following table presents the maturities of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022				December 31, 2021
	Recorded Investment		% of Total		Recorded Investment		% of Total
Due within five years	$	2,578	39.1	%	$	2,660	42.0	%
Due after five years through ten years	2,759		41.8		2,593		41.0
Due after ten years	1,257		19.1		1,076		17.0
Total	$	6,594	100.0	%	$	6,329	100.0	%

Accounts Receivable, Noncurrent, Credit Quality Indicator [Table Text Block]

The following tables set forth certain key credit quality indicators of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Recorded Investment
	Debt Service Ratios						Construction Loans
	>1.20x		1.00x – 1.20x		<1.00x				Total		% of Total
June 30, 2022:
Loan-to-Value Ratio
0% – 59.99%	$	3,350	$	222	$	67	$	10	$	3,649	55.3	%
60% – 69.99%	1,909		196		96		—		2,201		33.4
70% – 79.99%	455		34		40		—		529		8.0
80% or greater	89		—		126		—		215		3.3
Total	$	5,803	$	452	$	329	$	10	$	6,594	100.0	%


	Recorded Investment
	Debt Service Ratios						Construction Loans
	>1.20x		1.00x – 1.20x		<1.00x				Total		% of Total
December 31, 2021:
Loan-to-Value Ratio
0% – 59.99%	$	3,111	$	238	$	51	$	6	$	3,406	53.8	%
60% – 69.99%	1,906		190		46		—		2,142		33.8
70% – 79.99%	520		41		12		—		573		9.1
80% or greater	148		—		60		—		208		3.3
Total	$	5,685	$	469	$	169	$	6	$	6,329	100.0	%

Financing Receivable Credit Quality Indicators [Table Text Block]

The following table sets forth credit quality grades by year of origination of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Recorded Investment
	Year of Origination
	2022		2021		2020		2019		2018		Prior		Total
June 30, 2022:
Internal credit quality grade:
High investment grade	$	451	$	705	$	373	$	586	$	431	$	1,651	$	4,197
Investment grade	368		313		246		312		271		645		2,155
Average	—		6		—		26		76		98		206
Watch list	—		—		—		—		—		—		—
In or near default	—		—		—		—		—		36		36
Total	$	819	$	1,024	$	619	$	924	$	778	$	2,430	$	6,594


	Recorded Investment
	Year of Origination
	2021		2020		2019		2018		2017		Prior		Total
December 31, 2021:
Internal credit quality grade:
High investment grade	$	725	$	402	$	645	$	461	$	344	$	1,534	$	4,111
Investment grade	367		272		331		301		296		502		2,069
Average	6		—		27		39		5		32		109
Watch list	—		—		—		—		—		4		4
In or near default	—		—		—		—		—		36		36
Total	$	1,098	$	674	$	1,003	$	801	$	645	$	2,108	$	6,329

Financing Receivable, Past Due [Table Text Block]

The following table presents the current and past due composition of the Company’s recorded investment in mortgage loans as of June 30, 2022 and December 31, 2021 (dollars in millions):


	June 30, 2022		December 31, 2021
Current	$	6,575	$	6,329


Greater than 90 days	19		—

Total	$	6,594	$	6,329

Allowance For Mortgage Loan And Lease Losses Provision For Loss Net

The following table presents information regarding the Company’s allowance for credit losses for mortgage loans for the six months ended June 30, 2022 and 2021 (dollars in millions):


	Three months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Balance, beginning of period	$	37	$	47	$	35	$	64
Change in allowance for credit losses	1		(2)		3		(19)
Balance, end of period	$	38	$	45	$	38	$	45

Schedule Of Other Invested Assets [Table Text Block]

arrying values of other invested assets as of June 30, 2022 and December 31, 2021 are as follows (dollars in millions):


	June 30, 2022		December 31, 2021
Limited partnership interests and real estate joint ventures	$	2,074	$	1,996
Lifetime mortgages	812		758
Derivatives	115		175
Other	109		141
Total other invested assets	$	3,110	$	3,070

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value

The following table presents the notional amounts and gross fair value of derivative instruments prior to taking into account the netting effects of master netting agreements as of June 30, 2022 and December 31, 2021 (dollars in millions):


		June 30, 2022						December 31, 2021
	Primary Underlying Risk	Notional		Carrying Value/Fair Value				Notional		Carrying Value/Fair Value
		Amount		Assets		Liabilities		Amount		Assets		Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps	Interest rate	$	1,143	$	23	$	1	$	1,273	$	66	$	1
Interest rate options	Interest rate	2,893		9		—		—		—		—
Financial futures	Equity	227		—		—		240		—		—
Foreign currency swaps	Foreign currency	150		18		—		150		1		—
Foreign currency forwards	Foreign currency	755		—		21		395		2		4
CPI swaps	CPI	524		26		5		563		34		7
Credit default swaps	Credit	1,675		13		39		1,321		29		1
Equity options	Equity	298		43		—		472		29		—
Synthetic GICs	Interest rate	17,317		—		—		16,143		—		—


Embedded derivatives in:
Modco or funds withheld arrangements		—		326		250		—		227		62
Indexed annuity products		—		—		584		—		—		693
Variable annuity products		—		—		160		—		—		162
Total non-hedging derivatives		24,982		458		1,060		20,557		388		930
Derivatives designated as hedging instruments:
Interest rate swaps	Foreign currency/Interest rate	1,338		2		128		941		4		33
Foreign currency swaps	Foreign currency	114		—		—		153		1		—
Foreign currency forwards	Foreign currency	1,170		14		5		1,320		14		11
Forward bond purchase commitments	Interest rate	453		—		100		545		14		1
Total hedging derivatives		3,075		16		233		2,959		33		45
Total derivatives		$	28,057	$	474	$	1,293	$	23,516	$	421	$	975

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The gain or loss on the hedged item attributable to a change in foreign currency and the offsetting gain or loss on the related foreign currency swaps as of June 30, 2022 and 2021 were (dollars in millions):


Type of Fair Value Hedge	Hedged Item	Gains (Losses) Recognized for Derivatives		Gains (Losses) Recognized for Hedged Items
		Investment Related Gains (Losses)
For the three months ended June 30, 2022:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(8)	$	8
For the three months ended June 30, 2021:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(2)	$	2
For the six months ended June 30, 2022:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(1)	$	5
For the six months ended June 30, 2021:
Foreign currency swaps	Foreign-denominated fixed maturity securities	$	(2)	$	3

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]


	Three months ended June 30,
	2022		2021
Balance, beginning of period	$	(81)	$	(71)
Gains (losses), net deferred in other comprehensive income (loss)	(128)		29

Amounts reclassified to investment income	2		—
Amounts reclassified to interest expense	1		2
Balance, end of period	$	(206)	$	(40)

	Six months ended June 30,
	2022		2021
Balance, beginning of period	$	(22)	$	(49)
Gains (losses), net deferred in other comprehensive income (loss)	(188)		5

Amounts reclassified to investment income	2		—
Amounts reclassified to interest expense	2		4
Balance, end of period	$	(206)	$	(40)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]


Derivative Type	Gains (Losses) Deferred in OCI		Gains (Losses) Reclassified into Income from AOCI
			Investment Income		Interest Expense
For the three months ended June 30, 2022:
Interest rate	$	(106)	$	—	$	(1)
Foreign currency/interest rate	(22)		(2)		—
Total	$	(128)	$	(2)	$	(1)
For the three months ended June 30, 2021:
Interest rate	$	29	$	—	$	(2)
Foreign currency/interest rate	—		—		—

Total	$	29	$	—	$	(2)

For the six months ended June 30, 2022:
Interest rate	$	(170)	$	—	$	(2)
Foreign currency/interest rate	(18)		(2)		—

Total	$	(188)	$	(2)	$	(2)
For the six months ended June 30, 2021:
Interest rate	$	6	$	—	$	(4)
Foreign currency/interest rate	(1)		—		—

Total	$	5	$	—	$	(4)

Schedule of Net Investment Hedges, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table illustrates the Company’s net investments in foreign operations (“NIFO”) hedges and the gains (losses) deferred in OCI for the three and six months ended June 30, 2022 and 2021 (dollars in millions):


	Derivative Gains (Losses) Deferred in OCI
	Three months ended June 30,				Six months ended June 30,
Type of NIFO Hedge	2022		2021		2022		2021
Foreign currency swaps	$	1	$	(2)	$	1	$	(3)
Foreign currency forwards	38		(10)		22		(24)
Total	$	39	$	(12)	$	23	$	(27)

Derivatives Not Designated as Hedging Instruments [Table Text Block]


		Three months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2022		2021
Interest rate swaps	Investment related gains (losses), net	$	(44)	$	33
Interest rate options	Investment related gains (losses), net	(6)		—
Financial futures	Investment related gains (losses), net	24		(9)
Foreign currency swaps	Investment related gains (losses), net	11		3
Foreign currency forwards	Investment related gains (losses), net	(76)		(1)
CPI swaps	Investment related gains (losses), net	(11)		3
Credit default swaps	Investment related gains (losses), net	(33)		12
Equity options	Investment related gains (losses), net	21		(11)


Subtotal		(114)		30
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	(56)		16

Indexed annuity products	Interest credited	44		(13)
Variable annuity products	Investment related gains (losses), net	(12)		(17)
Total non-hedging derivatives		$	(138)	$	16

		Six months ended June 30,
Type of Non-hedging Derivative	Income Statement Location of Gain (Loss)	2022		2021
Interest rate swaps	Investment related gains (losses), net	$	(96)	$	(37)
Interest rate options	Investment related gains (losses), net	(6)		—
Financial futures	Investment related gains (losses), net	31		(19)
Foreign currency swaps	Investment related gains (losses), net	18		12
Foreign currency forwards	Investment related gains (losses), net	(99)		(9)
CPI swaps	Investment related gains (losses), net	18		21
Credit default swaps	Investment related gains (losses), net	(91)		32
Equity options	Investment related gains (losses), net	21		(21)


Subtotal		(204)		(21)
Embedded derivatives in:
Modco or funds withheld arrangements	Investment related gains (losses), net	(89)		66

Indexed annuity products	Interest credited	80		1
Variable annuity products	Investment related gains (losses), net	2		1
Total non-hedging derivatives		$	(211)	$	47

Disclosure of Credit Derivatives [Table Text Block]


	June 30, 2022					December 31, 2021
Rating Agency Designation of Referenced Credit Obligations(1)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps(2)		Weighted Average Years to Maturity(3)	Estimated Fair Value of Credit Default Swaps		Maximum Amount of Future Payments under Credit Default Swaps(2)		Weighted Average Years to Maturity(3)
AAA/AA+/AA/AA-/A+/A/A-
Single name credit default swaps	$	(23)	$	477	17.2	$	28	$	600	14.2
Subtotal	(23)		477		17.2	28		600		14.2
BBB+/BBB/BBB-
Single name credit default swaps	—		158		3.7	1		141		2.4
Credit default swaps referencing indices	(1)		1,015		6.6	—		565		5.1
Subtotal	(1)		1,173		6.2	1		706		4.6
BB+/BB/BB-
Single name credit default swaps	(2)		25		3.7	(1)		15		3.5
Subtotal	(2)		25		3.7	(1)		15		3.5
Total	$	(26)	$	1,675	9.3	$	28	$	1,321	9.0

(1)The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).

(2)Assumes the value of the referenced credit obligations is zero.

(3)The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Offsetting Assets [Table Text Block]

The following table provides information relating to the netting of the Company’s derivative instruments as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments/ Collateral (1)		Net Amount
June 30, 2022:
Derivative assets	$	148	$	(33)	$	115	$	(115)	$	—
Derivative liabilities	299		(33)		266		(266)		—
December 31, 2021:
Derivative assets	$	194	$	(19)	$	175	$	(175)	$	—
Derivative liabilities	58		(19)		39		(39)		—

(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.

Offsetting Liabilities [Table Text Block]

The following table provides information relating to the netting of the Company’s derivative instruments as of June 30, 2022 and December 31, 2021 (dollars in millions):


	Gross Amounts Recognized		Gross Amounts Offset in the Balance Sheet		Net Amounts Presented in the Balance Sheet		Financial Instruments/ Collateral (1)		Net Amount
June 30, 2022:
Derivative assets	$	148	$	(33)	$	115	$	(115)	$	—
Derivative liabilities	299		(33)		266		(266)		—
December 31, 2021:
Derivative assets	$	194	$	(19)	$	175	$	(175)	$	—
Derivative liabilities	58		(19)		39		(39)		—

(1)Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.

Fair Value of Assets and Liabilities Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

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, 2022 and December 31, 2021 are summarized below (dollars in millions):


June 30, 2022:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	34,374	$	—	$	30,136	$	4,238
Canadian government	3,809		—		3,809		—
RMBS	950		—		944		6
ABS	3,782		—		2,624		1,158
CMBS	1,735		—		1,652		83
U.S. government	962		862		90		10
State and political subdivisions	1,116		—		1,083		33
Other foreign government	6,566		—		6,530		36
Total fixed maturity securities – available-for-sale	53,294		862		46,868		5,564
Equity securities	127		80		—		47
Funds withheld at interest – embedded derivatives	(174)		—		—		(174)
Funds withheld at interest	62		—		—		62
Cash equivalents	1,156		1,156		—		—
Short-term investments	234		171		42		21
Other invested assets:
Derivatives	115		—		115		—










Other	33		—		33		—
Total other invested assets (1)	148		—		148		—

Total	$	54,847	$	2,269	$	47,058	$	5,520
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	744	$	—	$	—	$	744
Other liabilities:
Funds withheld at interest – embedded derivatives	(250)		—		—		(250)
Derivatives	266		—		266		—








Total	$	760	$	—	$	266	$	494


December 31, 2021:			Fair Value Measurements Using:
	Total		Level 1		Level 2		Level 3
Assets:
Fixed maturity securities – available-for-sale:
Corporate	$	38,103	$	—	$	34,215	$	3,888
Canadian government	4,944		—		4,944		—
RMBS	1,050		—		1,049		1
ABS	4,005		—		2,908		1,097
CMBS	1,849		—		1,768		81
U.S. government	2,105		1,993		100		12
State and political subdivisions	1,323		—		1,290		33
Other foreign government	7,370		—		7,337		33
Total fixed maturity securities – available-for-sale	60,749		1,993		53,611		5,145
Equity securities	151		101		—		50
Funds withheld at interest – embedded derivatives	104		—		—		104
Funds withheld at interest	83		—		—		83
Cash equivalents	1,138		1,138		—		—
Short-term investments	64		—		36		28
Other invested assets:
Derivatives	175		—		175		—








Other	52		—		52		—


Total other invested assets (1)	227		—		227		—

Total	$	62,516	$	3,232	$	53,874	$	5,410
Liabilities:
Interest-sensitive contract liabilities – embedded derivatives	$	855	$	—	$	—	$	855
Other liabilities:
Funds withheld at interest – embedded derivatives	(61)		—		—		(61)
Derivatives	39		—		39		—










Total	$	833	$	—	$	39	$	794

Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block]


	Estimated Fair Value				Valuation Technique	Unobservable Inputs	Range (Weighted Average)
	June 30, 2022		December 31, 2021				June 30, 2022	December 31, 2021
Assets:
Corporate	$	35	$	49	Market comparable securities	Liquidity premium	1%	0-1% (1%)
						EBITDA Multiple	5.0x-7.0x (6.5x)	5.2x-7.0x (6.4x)
ABS	233		205		Market comparable securities	Liquidity premium	0-18% (3%)	2-18% (4%)
U.S. government	10		12		Market comparable securities	Liquidity premium	0-1% (1%)	0-1% (1%)


Equity securities	6		5		Market comparable securities	EBITDA Multiple	6.9x-11.2x (8.5x)	6.9x-10.6x (8.0x)
Funds withheld at interest – embedded derivatives	61		182		Total return swap	Mortality	0-100% (3%)	0-100% (3%)
						Lapse	0-35% (12%)	0-35% (18%)
						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 annuities	584		693		Discounted cash flow	Mortality	0-100% (3%)	0-100% (2%)
						Lapse	0-35% (11%)	0-35% (16%)
						Withdrawal	0-5% (3%)	0-5% (3%)
						Option budget projection	1-4% (2%)	1-4% (2%)
Interest-sensitive contract liabilities – embedded derivatives – variable annuities	160		162		Discounted cash flow	Mortality	0-100% (2%)	0-100% (2%)
						Lapse	0-25% (4%)	0-25% (4%)
						Withdrawal	0-7% (6%)	0-7% (5%)
						CVA	0-5% (1%)	0-5% (1%)
						Long-term volatility	0-27% (14%)	0-27% (14%)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The reconciliations for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are as follows (dollars in millions):


For the 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
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	4,046	$	29	$	1,121	$	44	$	48	$	48	$	132	$	75	$	(793)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	2		—		—		—		—		—		—		(5)		—
Investment related gains (losses), net	(6)		—		—		—		(5)		1		(56)		—		(12)

Interest credited	—		—		—		—		—		—		—		—		44

Included in other comprehensive income (loss)	(157)		(6)		(73)		(3)		—		(1)		—		(5)		—

Purchases(2)	571		—		207		—		4		1		—		2		—
Sales(2)	(108)		—		—		(1)		—		—		—		—		—
Settlements(2)	(153)		—		(21)		(1)		—		(28)		—		(5)		17
Transfers into Level 3	57		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	$	(744)
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)		—		(13)


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.


For the 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
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,888	$	33	$	1,179	$	45	$	50	$	28	$	165	$	83	$	(855)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	3		—		—		—		—		—		—		(10)		—
Investment related gains (losses), net	(6)		—		(5)		—		(6)		1		(89)		—		2

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 3	57		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	$	(744)
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)				(1)


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.


For the three months ended June 30, 2021:	Fixed maturity securities – available-for-sale												Funds withheld at interest – embedded derivatives		Funds withheld at interest		Interest-sensitive contract liabilities – embedded derivatives
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,101	$	16	$	388	$	22	$	54	$	11	$	109	$	67	$	(857)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	2		—		—		—		—		—		—		(1)		—
Investment related gains (losses), net	2		—		—		—		10		—		16		—		(17)

Interest credited	—		—		—		—		—		—		—		—		(13)

Included in other comprehensive income (loss)	49		—		5		—		—		—		—		—		—

Purchases(1)	317		25		262		—		—		—		—		16		(13)
Sales(1)	(19)		—		(2)		—		(1)		—		—		—		—
Settlements(1)	(269)		—		(24)		(1)		—		(10)		—		(1)		20
Transfers into Level 3	25		—		24		—		—		—		—		—		—
Transfers out of Level 3	—		—		—		—		—		(1)		—		—		—
Fair value, end of period	$	3,208	$	41	$	653	$	21	$	63	$	—	$	125	$	81	$	(880)
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	$	—	$	—	$	—	$	—	$	—	$	—	$	(1)	$	—
Investment related gains (losses), net	—		—		—		—		9		—		16		—		(19)


Interest credited	—		—		—		—		—		—		—		—		(33)
Included in other comprehensive income (loss)	51		—		5		—		—		—		—		—		—


For the six months ended June 30, 2021:	Fixed maturity securities – available-for-sale												Funds withheld at interest – embedded derivatives		Funds withheld at interest		Interest-sensitive contract liabilities – embedded derivatives
	Corporate		Foreign govt		Structured securities		U.S. and local govt		Equity securities		Short-term investments
Fair value, beginning of period	$	3,029	$	17	$	254	$	23	$	53	$	15	$	58	$	56	$	(907)
Total gains/losses (realized/unrealized)
Included in earnings, net:
Net investment income	3		—		—		—		—		—		—		(6)		—
Investment related gains (losses), net	1		—		—		—		11		—		66		—		1

Interest credited	—		—		—		—		—		—		—		—		1

Included in other comprehensive income (loss)	(33)		(1)		4		—		—		—		1		—		—

Purchases(1)	540		25		428		—		—		—		—		32		(17)
Sales(1)	(20)		—		(2)		—		(1)		—		—		—		—
Settlements(1)	(341)		—		(85)		(2)		—		(10)		—		(1)		42
Transfers into Level 3	29		—		54		—		—		—		—		—		—
Transfers out of Level 3	—		—		—		—		—		(5)		—		—		—
Fair value, end of period	$	3,208	$	41	$	653	$	21	$	63	$	—	$	125	$	81	$	(880)
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	$	—	$	—	$	—	$	—	$	—	$	—	$	(6)	$	—
Investment related gains (losses), net	(1)		—		—		—		10		—		66		—		(3)


Interest credited	—		—		—		—		—		—		—		—		(41)
Included in other comprehensive income (loss)	(31)		(1)		4		—		—		—		1		—		—

Financial Instruments Carrying Amounts And Estimated Fair Value [Table Text Block]


June 30, 2022:	Carrying Value (1)		Estimated Fair Value		Fair Value Measurement Using:
					Level 1		Level 2		Level 3
Assets:
Mortgage loans	$	6,544	$	6,051	$	—	$	—	$	6,051
Policy loans	1,218		1,218		—		1,218		—
Funds withheld at interest	6,519		6,335		—		—		6,335
Cash and cash equivalents	1,400		1,400		1,400		—		—
Short-term investments	38		38		38		—		—
Other invested assets	924		805		5		60		740
Accrued investment income	572		572		—		572		—
Liabilities:
Interest-sensitive contract liabilities	$	21,836	$	21,399	$	—	$	—	$	21,399
Other liabilities – funds withheld at interest	1,610		1,417						1,417
Long-term debt	3,667		3,463		—		—		3,463
Collateral finance and securitization notes	152		129		—		—		129

December 31, 2021:	Carrying Value (1)		Estimated Fair Value		Fair Value Measurement Using:
					Level 1		Level 2		Level 3
Assets:
Mortgage loans	$	6,283	$	6,580	$	—	$	—	$	6,580
Policy loans	1,234		1,234		—		1,234		—
Funds withheld at interest	6,747		7,075		—		—		7,075
Cash and cash equivalents	1,810		1,810		1,810		—		—
Short-term investments	23		23		23		—		—
Other invested assets	910		907		6		70		831
Accrued investment income	533		533		—		533		—
Liabilities:
Interest-sensitive contract liabilities	$	18,625	$	19,540	$	—	$	—	$	19,540
Other liabilities – funds withheld at interest	1,658		1,657		—		—		1,657
Long-term debt	3,667		3,886		—		—		3,886
Collateral finance and securitization notes	180		153		—		—		153

Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Reconciliation Of Revenue From Segments To Consolidated Text Block

Information related to revenues, income (loss) before income taxes and total assets of the Company for each reportable segment are summarized below (dollars in millions).


	Three months ended June 30,				Six months ended June 30,
Revenues:	2022		2021		2022		2021
U.S. and Latin America:
Traditional	$	1,868	$	1,816	$	3,735	$	3,453
Financial Solutions	278		433		530		751
Total	2,146		2,249		4,265		4,204
Canada:
Traditional	367		366		729		709
Financial Solutions	27		26		52		52
Total	394		392		781		761
Europe, Middle East and Africa:
Traditional	447		459		923		916
Financial Solutions	134		139		316		285
Total	581		598		1,239		1,201
Asia Pacific:
Traditional	686		653		1,374		1,300
Financial Solutions	43		104		64		208
Total	729		757		1,438		1,508
Corporate and Other	37		141		94		582
Total	$	3,887	$	4,137	$	7,817	$	8,256

Reconciliation Of Operating Profit Loss From Segments To Consolidated Text Block


	Three months ended June 30,				Six months ended June 30,
Income (loss) before income taxes:	2022		2021		2022		2021
U.S. and Latin America:
Traditional	$	209	$	135	$	43	$	(203)
Financial Solutions	61		186		105		269
Total	270		321		148		66
Canada:
Traditional	16		32		22		56
Financial Solutions	4		4		17		10
Total	20		36		39		66
Europe, Middle East and Africa:
Traditional	2		(12)		(4)		(80)
Financial Solutions	33		83		118		143
Total	35		71		114		63
Asia Pacific:
Traditional	58		(12)		109		29
Financial Solutions	(66)		31		(122)		59
Total	(8)		19		(13)		88
Corporate and Other	(63)		35		(94)		385
Total	$	254	$	482	$	194	$	668

Reconciliation Of Assets From Segment To Consolidated Text Block


Assets:	June 30, 2022		December 31, 2021
U.S. and Latin America:
Traditional	$	21,508	$	20,572
Financial Solutions	26,201		29,028
Total	47,709		49,600
Canada:
Traditional	5,026		5,091
Financial Solutions	34		18
Total	5,060		5,109
Europe, Middle East and Africa:
Traditional	4,506		4,670
Financial Solutions	5,313		7,165
Total	9,819		11,835
Asia Pacific:
Traditional	9,196		10,048
Financial Solutions	9,494		7,678
Total	18,690		17,726
Corporate and Other	3,331		7,905
Total	$	84,609	$	92,175

Commitments, Contingencies and Guarantees (Tables)

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

The Company’s commitments to fund investments as of June 30, 2022 and December 31, 2021 are presented in the following table (dollars in millions):


	June 30, 2022		December 31, 2021
Limited partnership interests and joint ventures	$	1,030	$	1,031
Mortgage loans	102		152
Bank loans and private placements	786		768
Lifetime mortgages	96		41

Other Commitments [Table Text Block]

The following table presents the maximum potential obligation for these commitments as of June 30, 2022 (dollars in millions):


Commitment Period:	Maximum Potential Obligation
2034	$	1,243
2035	2,660
2036	3,599
2037	6,850
2038	2,300
2039	7,350
2046	3,000

Schedule of Guarantor Obligations [Table Text Block]

RGA’s guarantees issued as of June 30, 2022 and December 31, 2021, are reflected in the following table (dollars in millions):


	June 30, 2022		December 31, 2021
Treaty guarantees	$	1,946	$	2,208
Treaty guarantees, net of assets in trust	1,139		1,281
Securities borrowing and repurchase arrangements	170		134

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Schedule Of Defined Benefit Plans Disclosures Text Block


	Pension Benefits				Other Benefits
	Three months ended June 30,				Three months ended June 30,
	2022		2021		2022		2021
Service cost	$	4	$	5	$	—	$	1
Interest cost	2		1		1		1
Expected return on plan assets	(3)		(3)		—		—
Amortization of prior service cost (credit)	—		—		(1)		(1)
Amortization of prior actuarial losses	1		2		1		1
Net periodic benefit cost	$	4	$	5	$	1	$	2


	Pension Benefits				Other Benefits
	Six months ended June 30,				Six months ended June 30,
	2022		2021		2022		2021
Service cost	$	8	$	9	$	1	$	2
Interest cost	3		2		1		1
Expected return on plan assets	(6)		(5)		—		—
Amortization of prior service cost (credit)	—		—		(1)		(1)
Amortization of prior actuarial losses	2		3		1		1
Net periodic benefit cost	$	7	$	9	$	2	$	3

Reinsurance (Tables)

6 Months Ended

Jun. 30, 2022

Retrocession Arrangements And Reinsurance Ceded Receivables [Abstract]

Ceded Credit Risk [Table Text Block]


		June 30, 2022				December 31, 2021
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Reinsurer A	A-	$	1,611	63.0	%	$	1,626	63.0	%
Reinsurer B	A+	431		16.8		423		16.4
Reinsurer C	A+	208		8.1		212		8.2
Reinsurer D	A	59		2.3		59		2.3
Reinsurer E	A++	47		1.8		42		1.6
Reinsurer F	A+	44		1.7		44		1.7
Other reinsurers		158		6.3		174		6.8
Total		$	2,558	100.0	%	$	2,580	100.0	%

Policy Claims and Benefits (Tables)

6 Months Ended

Jun. 30, 2022

Insurance [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]


	Six Months Ended June 30,
	2022		2021
Balance, beginning of period	$	8,053	$	7,556
Less: reinsurance recoverable	(556)		(641)
Net balance, beginning of period	7,497		6,915
Incurred:
Current year	6,813		7,631
Prior years	(114)		(122)
Total incurred	6,699		7,509
Payments:
Current year	(2,009)		(2,747)
Prior years	(4,975)		(4,358)
Total payments	(6,984)		(7,105)
Other changes:
Interest accretion	15		20
Foreign exchange adjustments	(233)		(38)
Total other changes	(218)		(18)

Net balance, end of period	6,994		7,302
Plus: reinsurance recoverable	573		674
Balance, end of period	$	7,567	$	7,976

Earnings Per Share (Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Shares) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings:
Net income	$ 198	$ 344	$ 135	$ 483
Shares:
Weighted average outstanding shares	67	68	67	68
Equivalent shares from outstanding stock awards	1	1	1	1
Denominator for diluted calculation	68	69	68	69
Earnings Per Share:
Basic earnings per share	$ 2.95	$ 5.06	$ 2.01	$ 7.11
Diluted earnings per share	$ 2.92	$ 5.02	$ 2.00	$ 7.06

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Earnings Per Share (Stock Options and Performance Shares Excluded From Common Equivalent Shares) (Details) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,400	1,600
Share-based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	200

Equity (Common Stock Changes In Number of Shares Issued, Held In Treasury and Outstanding) (Details) - shares

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Class of Stock [Line Items]

Common Stock, Shares, Issued

85,310,598

Common Stock Issuable [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

85,310,598

Issuance of common stock

Common stock acquired

Stock-based compensation (1)

^[1]

Common Stock, Shares, Issued

85,310,598

Common Stock Held In Treasury [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

18,139,868

17,353,697

Issuance of common stock

Common stock acquired

(219,116)

Stock-based compensation (1)

^[1]

(55,654)

(40,036)

Common Stock, Shares, Issued

18,303,330

17,313,661

Common Stock Outstanding [Member]

Class of Stock [Line Items]

Common Stock, Shares, Issued

67,170,730

67,956,901

Issuance of common stock

Common stock acquired

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Stock-based compensation (1)

^[1]

(55,654)

(40,036)

Common Stock, Shares, Issued

67,007,268

67,996,937

[1]	Represents net shares issued from treasury pursuant to the Company’s equity-based compensation programs.

Equity (Balance of and Changes in Each Component of AOCI) (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax

$ 3,642

$ 5,359

Other comprehensive income (loss) before reclassifications

(9,466)

(1,555)

Amounts reclassified to (from) AOCI

310

(151)

Deferred income tax benefit (expense)

1,955

388

Accumulated Other Comprehensive Income (Loss), Net of Tax

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4,041

Accumulated Translation Adjustment [Member]

Accumulated Other Comprehensive Income (Loss), Net of Tax

(9)

(69)

Other comprehensive income (loss) before reclassifications

(4)

Amounts reclassified to (from) AOCI

Deferred income tax benefit (expense)

Accumulated Other Comprehensive Income (Loss), Net of Tax

(39)

(20)

Accumulated Net Unrealized Investment Gain (Loss) [Member]

Accumulated Other Comprehensive Income (Loss), Net of Tax

^[1]

3,701

5,500

Other comprehensive income (loss) before reclassifications

^[1]

(9,459)

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Amounts reclassified to (from) AOCI

^[1]

308

(154)

Deferred income tax benefit (expense)

^[1]

1,981

394

Accumulated Other Comprehensive Income (Loss), Net of Tax

^[1]

(3,469)

4,133

Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive Income (Loss), Net of Tax

(50)

(72)

Other comprehensive income (loss) before reclassifications

(3)

Amounts reclassified to (from) AOCI

Deferred income tax benefit (expense)

Accumulated Other Comprehensive Income (Loss), Net of Tax

$ (51)

$ (72)

[1]	Includes cash flow hedges of $(206) and $(22) as of June 30, 2022 and December 31, 2021, respectively, and $(40) and $(49) as of June 30, 2021 and December 31, 2020, respectively. See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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Equity (Schedule of Reclassifications out of AOCI) (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income Tax Expense (Benefit)

$ (55)

$ (138)

$ (58)

$ (185)

Net income available to RGA, Inc. shareholders

198

344

135

483

Unrealized Appreciation Depreciation Of Investments [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(170)

(308)

154

Income Tax Expense (Benefit)

(9)

(33)

Net income available to RGA, Inc. shareholders

(135)

(244)

121

Unrealized Appreciation Depreciation Of Investments [Member] | Unrealized Gains Losses On Available For Sale Securities [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Investment related gains (losses), net

(68)

(103)

183

Unrealized Appreciation Depreciation Of Investments [Member] | Interest Rate Swap [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

^[1]

(2)

Unrealized Appreciation Depreciation Of Investments [Member] | Currency Swap [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net

^[1]

(1)

(4)

(2)

(4)

Unrealized Appreciation Depreciation Of Investments [Member] | DAC Attributed To Unrealized Gains Losses [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Deferred policy acquisition costs attributed to unrealized gains and losses

^[2]

(99)

201

(23)

Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

(1)

(2)

(3)

Income Tax Expense (Benefit)

Net income available to RGA, Inc. shareholders

(1)

(2)

Amounts Reclassified From AOCI [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Net income available to RGA, Inc. shareholders

(136)

(246)

119

Prior Service Cost [Member] | Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Prior service cost

^[3]

Actuarial Gains Losses [Member] | Amortization Of Unrealized Pension And Postretirement Benefits [Member]

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Actuarial gains/(losses)

^[3]

$ (2)

$ (3)

$ 3

$ (4)

[1]	See Note 5 – “Derivative Instruments” for additional information on cash flow hedges.
[2]	This AOCI component is included in the computation of the deferred policy acquisition cost. See Note 8 – “Deferred Policy Acquisition Costs” of the 2021 Annual Report for additional details.
[3]	This AOCI component is included in the computation of the net periodic pension cost. See Note 10 – “Employee Benefit Plans” for additional details.

Equity (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Equity (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Document Period End Date			Jun. 30, 2022
Treasury Stock, Value, Acquired, Cost Method	$ 0.0	$ 1.0	$ 27.0	$ 2.0
Proceeds from issuance of common stock, net			$ 0.0	0.0
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	219,116		219,116
Payments for Repurchase of Common Stock			$ 25.0
Stockholders' Equity Attributable to Noncontrolling Interest	$ 90.0	0.0	90.0	0.0	$ 90.0	$ 0.0	$ 0.0	$ 0.0
Net Income (Loss) Attributable to Noncontrolling Interest	1.0	$ 0.0	1.0	$ 0.0
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 400.0		$ 400.0

Equity Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity compensation expense		$ 17	$ 24
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	258,327
Stock appreciation rights granted, weighted average exercise price (per share)		$ 106.53
Shares Granted To Non Employee Directors		17,937
Document Period End Date		Jun. 30, 2022
Options exercisable (shares)		1,705,128
Options exercisable, weighted average price (per share)		$ 105.83
Options, remaining term		4 years 3 months 18 days
Compensation cost not yet recognized		$ 42
Period for recognition		9 months 18 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		78,687
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value		219,553

Investments (Investments in Fixed Maturity Securities Available-for-Sale by Sector) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 55	$ 31
Fixed maturity securities, available-for-sale	53,294	60,749
Available for Sale at Fair value - Amortized cost	57,608	$ 55,873
Funds Held Under Reinsurance Agreements Asset Specific Client	$ 4,100
Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	100.00%	100.00%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 55	$ 31
Fixed maturity securities, available-for-sale	53,294	60,749
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	870	5,256
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	5,129	349
Available for Sale at Fair value - Amortized cost	$ 57,608	$ 55,873
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
% of Total	100.00%	100.00%
Fixed maturity securities, available-for-sale	$ 34,374	$ 38,103
Available for Sale at Fair value - Amortized cost	$ 37,819	$ 35,239
Corporate Debt Securities [Member] \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	64.50%	62.80%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 43	$ 26
Fixed maturity securities, available-for-sale	34,374	38,103
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	257	3,084
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	3,659	194
Available for Sale at Fair value - Amortized cost	37,819	35,239
Canadian and Canadian provincial governments
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 3,809	$ 4,944
Canadian and Canadian provincial governments \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	7.10%	8.10%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0	$ 0
Fixed maturity securities, available-for-sale	3,809	4,944
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	536	1,606
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	35	1
Available for Sale at Fair value - Amortized cost	3,308	3,339
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 950	$ 1,050
Residential mortgage-backed securities \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	1.80%	1.70%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0	$ 0
Fixed maturity securities, available-for-sale	950	1,050
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	8	37
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	62	7
Available for Sale at Fair value - Amortized cost	1,004	1,020
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 3,782	$ 4,005
Asset-backed securities \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	7.10%	6.60%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 5	$ 0
Fixed maturity securities, available-for-sale	3,782	4,005
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	3	22
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	307	41
Available for Sale at Fair value - Amortized cost	4,091	4,024
Commercial Mortgage Backed Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 1,735	$ 1,849
Commercial Mortgage Backed Securities [Member] \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	3.30%	3.00%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 1	$ 1
Fixed maturity securities, available-for-sale	1,735	1,849
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	2	66
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	122	6
Available for Sale at Fair value - Amortized cost	$ 1,856	$ 1,790
US Treasury and Government [Member] \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	1.80%	3.50%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0	$ 0
Fixed maturity securities, available-for-sale	962	2,105
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	7	31
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	146	8
Available for Sale at Fair value - Amortized cost	1,101	2,082
US States and Political Subdivisions Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 1,116	$ 1,323
US States and Political Subdivisions Debt Securities [Member] \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	2.10%	2.20%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 0	$ 0
Fixed maturity securities, available-for-sale	1,116	1,323
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	21	137
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	107	5
Available for Sale at Fair value - Amortized cost	1,202	1,191
Debt Security, Government, Non-US [Member]
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	$ 6,566	$ 7,370
Debt Security, Government, Non-US [Member] \| Fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
% of Total	12.30%	12.10%
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 6	$ 4
Fixed maturity securities, available-for-sale	6,566	7,370
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	36	273
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	691	87
Available for Sale at Fair value - Amortized cost	$ 7,227	$ 7,188

Investments (Fixed Maturity Securities Pledged And Received As Collateral) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Document Period End Date	Jun. 30, 2022
Available for Sale at Fair value - Amortized cost	$ 57,608	$ 55,873
Fixed maturity securities, available-for-sale	53,294	60,749
Collateral Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available for Sale at Fair value - Amortized cost	373	100
Fixed maturity securities, available-for-sale	335	103
Collateral Received Fixed Maturity Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Fixed maturity securities, available-for-sale	1,591	1,922
Reported Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Assets Held-in-trust	30,476	28,671
Estimate of Fair Value Measurement [Member]
Debt Securities, Available-for-sale [Line Items]
Assets Held-in-trust	$ 28,080	$ 31,173

Investments (Exposure To Concentrations Of Credit Risk) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Document Period End Date	Jun. 30, 2022
Available for Sale at Fair value - Amortized cost	$ 57,608	$ 55,873
Fixed maturity securities, available-for-sale	53,294	60,749
Government Of Japan [Member]
Debt Securities, Available-for-sale [Line Items]
Available for Sale at Fair value - Amortized cost	3,031	3,080
Fixed maturity securities, available-for-sale	2,755	3,063
Canadian Province Of Quebec Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available for Sale at Fair value - Amortized cost	1,047	1,092
Fixed maturity securities, available-for-sale	1,155	1,451
Canadian Province Of Ontario Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available for Sale at Fair value - Amortized cost	1,390	1,377
Fixed maturity securities, available-for-sale	$ 1,747	$ 2,347

Investments (Amortized Cost and Fair Value of Fixed Maturities by Contractual Maturities) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Available For Sale Securities Debt Maturities Amortized Cost
Due in one year or less	$ 1,408
Due after one year through five years	9,847
Due after five year through ten years	11,466
Due after ten years	27,936
Asset and mortgage-backed securities	6,951
Total	57,608	$ 55,873
Available For Sale Securities Debt Maturities Fair Value
Due in one year or less	1,407
Due after one year through five years	9,730
Due after five year through ten years	10,701
Due after ten years	24,989
Asset and mortgage-backed securities	6,467
Total	$ 53,294	$ 60,749

Investments (Amortized Cost and Fair Value of Fixed Maturity Holdings by Industry Type) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 57,608	$ 55,873
Fixed maturity securities, available-for-sale	53,294	60,749
Corporate Debt Securities [Member]
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 37,819	$ 35,239
% of Total	100.00%	100.00%
Fixed maturity securities, available-for-sale	$ 34,374	$ 38,103
Corporate Debt Securities [Member] \| Financial Services Sector [Member]
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 14,008	$ 13,101
% of Total	37.00%	36.90%
Fixed maturity securities, available-for-sale	$ 12,703	$ 14,045
Corporate Debt Securities [Member] \| Commercial and Industrial Sector [Member]
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 19,152	$ 17,857
% of Total	51.00%	50.80%
Fixed maturity securities, available-for-sale	$ 17,526	$ 19,375
Corporate Debt Securities [Member] \| Utility Sector [Member]
Corporate Securities by Investment Sector And Credit Rating [Line Items]
Amortized Cost	$ 4,659	$ 4,281
% of Total	12.00%	12.30%
Fixed maturity securities, available-for-sale	$ 4,145	$ 4,683

Investments Investments (Rollforward of Allowance For Credit Losses) (Details) - Available-for-sale Securities [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	$ 55	$ 16	$ 31	$ 20
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	24	7
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	(7)	(10)
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses	7	1
Corporate Debt Securities [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	43	11	26	17
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	18	2
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	(6)	(8)
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses	5	0
Debt Security, Government, Non-US [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	6	4	4	0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	1	4
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	(1)	0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses	2	0
Commercial Mortgage Backed Securities [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	1	1	1	3
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	0	1
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	0	(2)
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses	0	1
Asset-backed securities
Financing Receivable, Allowance for Credit Loss [Line Items]
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held	5	0	$ 0	$ 0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, No Previous Impairment	5	0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Securities Sold	0	0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Additions, Additional Credit Losses	$ 0	$ 0

Investments (Fair Value Below Amortized Cost of Gross Unrealized Losses for Fixed Maturity Securities) (Details)	6 Months Ended
	Jun. 30, 2022
Gross unrealized losses with number of securities [Line Items]
Document Period End Date	Jun. 30, 2022

Investments (Investment Income Net of Related Expenses) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	$ 786	$ 785	$ 1,623	$ 1,621
Investment expense	(32)	(26)	(59)	(50)
Investment income, net of related expenses	754	759	1,564	1,571
Limited Partner [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	77	70	238	231
Available-for-sale Securities [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	559	516	1,092	1,011
Equity securities
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	1	1	3	3
Mortgage Loans on Real Estate [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	76	73	149	139
Policy loans
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	14	13	27	27
Funds withheld at interest
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	57	95	108	179
Short-term Investments [Member]
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	2	0	4	1
Other invested assets
Major Categories Of Investment Income Net of Expenses [Line Items]
Investment revenue	$ 0	$ 17	$ 2	$ 30

Investments (Investment Related Gains (Losses) Net) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investment Gains And Losses [Abstract]
Gain on investment activity	$ (34)	$ (53)	$ (45)	$ (220)
Available-for-sale Securities, Realized Losses, Excluding Other than Temporary Impairments	(94)	(30)	(130)	(43)
Gain (Loss) on Sale of Equity Investments	(15)	20	(23)	23
Other impairment losses and change in mortgage loan provision	(1)	3	(3)	21
Derivatives and other, net	(182)	29	(287)	47
Total investment related gains (losses), net	(254)	112	(380)	414
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	(15)	5	(27)	3
Change in Fair Value Limited Partnership Investments and Other Net	$ 19	$ 32	$ 45	$ 143

Investments (Borrowed Securities Repurchased Securities And Repurchased Reversed Repurchased Securities) (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Debt Securities, Available-for-sale [Line Items]

Document Period End Date

Jun. 30, 2022

Securities Loaned, Fair Value of Collateral

$ 81

$ 102

Securities Financing Transaction, Cost

Debt Securities, Available-for-sale [Line Items]

Securities Loaned, Fair Value of Collateral

^[1]

Securities for Reverse Repurchase Agreements

^[1]

643

704

Cash

^[2]

Collateralized Agreements

^[1]

529

279

Cash Received

^[3]

162

Securities Financing Transaction, Fair Value

Debt Securities, Available-for-sale [Line Items]

Securities Borrowed

^[4]

676

420

Securities Loaned, Fair Value of Collateral

^[1]

102

Securities Received as Collateral

^[5]

102

Securities for Reverse Repurchase Agreements

^[1]

593

736

Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities

^[5]

565

728

Cash

^[2]

Collateralized Agreements

^[1]

466

290

Cash Received

^[3]

$ 162

$ 0

[1]	Securities loaned and pledged to counterparties are included within fixed maturity securities.
[2]	A receivable for the cash held by counterparties is included within other assets.
[3]	A payable for the cash received by the Company is included within other liabilities.
[4]	Securities borrowed are not reflected on the condensed consolidated balance sheets. Collateral associated with certain borrowed securities is not included within this table as the collateral pledged to the counterparty is the right to reinsurance treaty cash flows.
[5]	Securities received as collateral from counterparties are not reflected on the condensed consolidated financial statements.

Investments (Mortgage Loans by Property Type) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Document Period End Date	Jun. 30, 2022
Recorded investment	$ 6,594		$ 6,329
Percentage of total	100.00%		100.00%
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	$ (12)		$ (11)
Allowance for Loan and Lease Losses, Real Estate	(38)	$ (37)	(35)	$ (45)	$ (47)	$ (64)
Mortgage loans (net of allowance for credit losses of $38 and $35)	6,544		6,283
Apartment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 776		$ 801
Percentage of total	11.80%		12.70%
Retail
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 2,319		$ 2,090
Percentage of total	35.10%		33.00%
Office building
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 1,729		$ 1,683
Percentage of total	26.20%		26.60%
Industrial
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 1,415		$ 1,249
Percentage of total	21.50%		19.70%
Other commercial
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Recorded investment	$ 355		$ 506
Percentage of total	5.40%		8.00%

Investments (Mortgage Loans by Maturity Date) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Document Period End Date	Jun. 30, 2022
Loans Receivable, Gross, Commercial, Real Estate	$ 6,594	$ 6,329
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
Due within five years
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 2,578	$ 2,660
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	39.10%	42.00%
Due after five years through ten years
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 2,759	$ 2,593
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	41.80%	41.00%
Due after ten years
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 1,257	$ 1,076
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	19.10%	17.00%

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Investments (Mortgage Loans by Credit Quality Indicator) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 6,594	$ 6,329
Loans Receivable, Gross, Commercial, Construction	$ 10	$ 6
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%	100.00%
LTV 0 to 59 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 3,649	$ 3,406
Loans Receivable, Gross, Commercial, Construction	$ 10	$ 6
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	55.30%	53.80%
LTV 60 To 69 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 2,201	$ 2,142
Loans Receivable, Gross, Commercial, Construction	$ 0	$ 0
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	33.40%	33.80%
LTV 70 To 79 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 529	$ 573
Loans Receivable, Gross, Commercial, Construction	$ 0	$ 0
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	8.00%	9.10%
Debt-to-Value Ratio, 80 to 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 215	$ 208
Loans Receivable, Gross, Commercial, Construction	$ 0	$ 0
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	3.30%	3.30%
Debt Service Coverage Ratio Range One [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 5,803	$ 5,685
Debt Service Coverage Ratio Range One [Member] \| LTV 0 to 59 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	3,350	3,111
Debt Service Coverage Ratio Range One [Member] \| LTV 60 To 69 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	1,909	1,906
Debt Service Coverage Ratio Range One [Member] \| LTV 70 To 79 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	455	520
Debt Service Coverage Ratio Range One [Member] \| Debt-to-Value Ratio, 80 to 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	89	148
Debt Service Coverage Ratio Range Two [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	452	469
Debt Service Coverage Ratio Range Two [Member] \| LTV 0 to 59 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	222	238
Debt Service Coverage Ratio Range Two [Member] \| LTV 60 To 69 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	196	190
Debt Service Coverage Ratio Range Two [Member] \| LTV 70 To 79 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	34	41
Debt Service Coverage Ratio Range Two [Member] \| Debt-to-Value Ratio, 80 to 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	0	0
Debt Service Coverage Ratio Range Three [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	329	169
Debt Service Coverage Ratio Range Three [Member] \| LTV 0 to 59 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	67	51
Debt Service Coverage Ratio Range Three [Member] \| LTV 60 To 69 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	96	46
Debt Service Coverage Ratio Range Three [Member] \| LTV 70 To 79 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	40	12
Debt Service Coverage Ratio Range Three [Member] \| Debt-to-Value Ratio, 80 to 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 126	$ 60

Investments (Age Analysis of Past Due Recorded Investments) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Document Period End Date	Jun. 30, 2022
Loans Receivable, Gross, Commercial, Real Estate	$ 6,594	$ 6,329
Financial Asset, Not Past Due
Financing Receivable, Past Due [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	6,575	6,329
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans Receivable, Gross, Commercial, Real Estate	$ 19	$ 0

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Investments (Mortgage Loans by Method of Evaluation and Related Valuation Allowances) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Document Period End Date	Jun. 30, 2022
Mortgage Loans:
Loans Receivable, Gross, Commercial, Real Estate	$ 6,594	$ 6,329
Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]
Mortgage loans on real estate (net of valuation allowances)	$ 6,544	$ 6,283

- Definition

Amount, before allowance for credit loss, of financing receivable.

+ References + Details

Investments (Loan Valuation Allowance for Mortgage Loans) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Allowance For Loan And Lease Losses Roll Forward
Balance, Beginning of Period	$ 37	$ 47	$ 35	$ 64
Provision (release)	(1)	(2)	(3)
Allowance for Loan and Lease Losses, Foreign Currency Translation				(19)
Balance, End of Period	$ 38	$ 45	$ 38	$ 45

Investments (Other Invested Assets) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Document Period End Date	Jun. 30, 2022
Other invested assets	$ 3,110	$ 3,070
Equity Release Mortgages [Member]
Other invested assets	812	758
Limited Partner [Member]
Other invested assets	2,074	1,996
Derivatives
Other invested assets	115	175
Other
Other invested assets	$ 109	$ 141

Investments (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
Investments (Narrative) (Details) $ in Millions	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Investment Narrative [Line Items]
Funds Held Under Reinsurance Agreements Asset Specific Client	$ 4,100		$ 4,100
Securities As Percentage Of Consolidated Stockholder Equity	10.00%		10.00%
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	100.00%		100.00%		100.00%
Funds withheld at interest	$ 6,393		$ 6,393		$ 6,954
Income before income taxes	$ 254	$ 482	$ 194	$ 668
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	6,103		6,103		1,862
Financing Receivable, Troubled Debt Restructuring	$ 77		$ 77
CALIFORNIA
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	11.40%		11.40%
TEXAS
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	12.90%		12.90%
CANADA
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	3.30%		3.30%
UNITED KINGDOM
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	2.40%		2.40%
GEORGIA
Investment Narrative [Line Items]
Mortgage Loans On Real Estate Commercial And Consumer Net Percentage Of Total	8.20%		8.20%

Derivative Instruments (Gross Notional Amount and Fair Value of Derivatives Contracts) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Document Period End Date	Jun. 30, 2022
Notional Amount	$ 28,057	$ 23,516
Carrying Value / Fair Value of Assets	474	421
Derivative Liability, Fair Value, Gross Liability	1,293	975
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional Amount	24,982	20,557
Carrying Value / Fair Value of Assets	458	388
Derivative Liability, Fair Value, Gross Liability	1,060	930
Not Designated as Hedging Instrument \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	1,143	1,273
Carrying Value / Fair Value of Assets	23	66
Derivative Liability, Fair Value, Gross Liability	1	1
Not Designated as Hedging Instrument \| Financial Futures
Derivative [Line Items]
Notional Amount	227	240
Carrying Value / Fair Value of Assets	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument \| Foreign Currency Forwards
Derivative [Line Items]
Notional Amount	755	395
Carrying Value / Fair Value of Assets	0	2
Derivative Liability, Fair Value, Gross Liability	21	4
Not Designated as Hedging Instrument \| Consumer Price Index Swap [Member]
Derivative [Line Items]
Notional Amount	524	563
Carrying Value / Fair Value of Assets	26	34
Derivative Liability, Fair Value, Gross Liability	5	7
Not Designated as Hedging Instrument \| Credit Default Swaps
Derivative [Line Items]
Notional Amount	1,675	1,321
Carrying Value / Fair Value of Assets	13	29
Derivative Liability, Fair Value, Gross Liability	39	1
Not Designated as Hedging Instrument \| Equity Options
Derivative [Line Items]
Notional Amount	298	472
Carrying Value / Fair Value of Assets	43	29
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument \| Currency Swap [Member]
Derivative [Line Items]
Notional Amount	150	150
Carrying Value / Fair Value of Assets	18	1
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	326	227
Derivative Liability, Fair Value, Gross Liability	250	62
Not Designated as Hedging Instrument \| Embedded Derivatives In Indexed Annuity [Member]
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	0	0
Derivative Liability, Fair Value, Gross Liability	584	693
Not Designated as Hedging Instrument \| Embedded Derivatives In Variable Annuity [Member]
Derivative [Line Items]
Notional Amount	0	0
Carrying Value / Fair Value of Assets	0	0
Derivative Liability, Fair Value, Gross Liability	160	162
Not Designated as Hedging Instrument \| Synthetic Guaranteed Investment Contracts
Derivative [Line Items]
Notional Amount	17,317	16,143
Carrying Value / Fair Value of Assets	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Not Designated as Hedging Instrument \| Interest Rate Swaption
Derivative [Line Items]
Notional Amount	2,893	0
Carrying Value / Fair Value of Assets	9	0
Derivative Liability, Fair Value, Gross Liability	0	0
Designated As Hedging Instrument
Derivative [Line Items]
Notional Amount	3,075	2,959
Carrying Value / Fair Value of Assets	16	33
Derivative Liability, Fair Value, Gross Liability	233	45
Designated As Hedging Instrument \| Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	1,338	941
Carrying Value / Fair Value of Assets	2	4
Derivative Liability, Fair Value, Gross Liability	128	33
Designated As Hedging Instrument \| Foreign Currency Forwards
Derivative [Line Items]
Notional Amount		1,320
Carrying Value / Fair Value of Assets		14
Derivative Liability, Fair Value, Gross Liability		11
Designated As Hedging Instrument \| Currency Swap [Member]
Derivative [Line Items]
Notional Amount	114	153
Carrying Value / Fair Value of Assets	0	1
Derivative Liability, Fair Value, Gross Liability	0	0
Designated As Hedging Instrument \| Purchase Commitment
Derivative [Line Items]
Notional Amount		545
Carrying Value / Fair Value of Assets		14
Derivative Liability, Fair Value, Gross Liability		$ 1
Designated As Hedging Instrument \| Forward Contracts
Derivative [Line Items]
Notional Amount	1,170
Carrying Value / Fair Value of Assets	14
Derivative Liability, Fair Value, Gross Liability	5
Designated As Hedging Instrument \| Other Contract
Derivative [Line Items]
Notional Amount	453
Carrying Value / Fair Value of Assets	0
Derivative Liability, Fair Value, Gross Liability	$ 100

Derivative Instruments Derivative Instruments (Fair Value Hedge Attributable to Foreign Currency) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	$ (8)	$ (2)	$ (1)	$ (2)
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	$ 8	$ 2	$ 5	$ 3

Derivative Instruments (Current Period Cash Flow Hedges in AOCI (loss) before Taxes) (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Amount of Hedged Item	$ (206)	$ (40)	$ (206)	$ (40)	$ (81)	$ (22)	$ (71)	$ (49)
Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	2	0	2	0
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1	2	2	4
Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (128)	$ 29	$ (188)	$ 5

Derivative Instruments (Cash Flow Hedges) (Details) - Cash Flow Hedging [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (2)	$ 0	$ (2)	$ 0
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1)	(2)	(2)	(4)
Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	128	(29)	188	(5)
Interest Rate Swap [Member] \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0	0
Interest Rate Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1)	(2)	(2)	(4)
Interest Rate Swap [Member] \| Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(106)	29	(170)	6
Currency Swap [Member] \| Investment Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(2)	0	(2)	0
Currency Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0	0	0
Currency Swap [Member] \| Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (22)	$ 0	$ (18)	$ (1)

Derivative Instruments (Hedges of Net Investments in Foreign Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivatives, Fair Value [Line Items]
Net Derivatives Gains (Losses) Deferred in AOCI	$ 39	$ (12)	$ 23	$ (27)
Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Net Derivatives Gains (Losses) Deferred in AOCI	1	(2)	1	(3)
Foreign Currency Forwards
Derivatives, Fair Value [Line Items]
Net Derivatives Gains (Losses) Deferred in AOCI	$ 38	$ (10)	$ 22	$ (24)

Derivative Instruments (Non Hedging Derivatives and Embedded Derivatives Effect on Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ (254)	$ 112	$ (380)	$ 414
Policy acquisition costs and other insurance expenses	(393)	(339)	(748)	(672)
Interest credited	138	218	279	364
Other revenues	157	168	248	259
Gain Loss On Investments Related To Change In Fair Value Of Derivatives Excluding Embedded Derivatives	(114)	30	(204)	(21)
Not Designated as Hedging Instrument
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(138)	16	(211)	47
Not Designated as Hedging Instrument \| Interest Rate Swaption
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(6)	0	(6)	0
Not Designated as Hedging Instrument \| Interest Rate Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(44)	33	(96)	(37)
Not Designated as Hedging Instrument \| Financial Futures
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	24	(9)	31	(19)
Not Designated as Hedging Instrument \| Currency Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	11	3	18	12
Not Designated as Hedging Instrument \| Foreign Currency Forwards
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(76)	(1)	(99)	(9)
Not Designated as Hedging Instrument \| Consumer Price Index Swap [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(11)	3	18	21
Not Designated as Hedging Instrument \| Credit Default Swaps
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(33)	12	(91)	32
Not Designated as Hedging Instrument \| Equity Options
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	21	(11)	21	(21)
Not Designated as Hedging Instrument \| Embedded Derivatives In Modified Coinsurance Or Funds Withheld Arrangements
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	(56)	16	(89)	66
Not Designated as Hedging Instrument \| Embedded Derivatives In Indexed Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Policyholder Account Balance, Interest Credited		13
Interest credited	44		80	1
Not Designated as Hedging Instrument \| Embedded Derivatives In Variable Annuity [Member]
Income Affect Of Non Hedging Derivatives [Line Items]
Total investment related gains (losses), net	$ (12)	$ (17)	$ 2	$ 1

Derivative Instruments (Exposure from Credit Derivatives by Rating of the Underlying Credits) (Details) - USD ($)
$ in Millions

6 Months Ended

9 Months Ended

Jun. 30, 2022

Sep. 30, 2021

Dec. 31, 2021

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (26)

$ 28

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 1,675

1,321

Derivative Average Remaining Maturity

^[1],[3]

9 years 3 months 18 days

9 years

Standard Poors AAA To A Minus Ratings [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (23)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 477

600

Derivative Average Remaining Maturity

^[1],[3]

17 years 2 months 12 days

14 years 2 months 12 days

Standard Poors AAA To A Minus Ratings [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (23)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 477

600

Derivative Average Remaining Maturity

^[1],[3]

17 years 2 months 12 days

14 years 2 months 12 days

Standard Poors BBB Rating [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ 0

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 158

141

Derivative Average Remaining Maturity

^[1],[3]

3 years 8 months 12 days

2 years 4 months 24 days

Standard Poors BBB Rating [Member] | Credit Default Swaps Referencing Indices [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (1)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 1,015

565

Derivative Average Remaining Maturity

^[1],[3]

6 years 7 months 6 days

5 years 1 month 6 days

Standard Poors BBB Rating [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (1)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 1,173

706

Derivative Average Remaining Maturity

^[1],[3]

6 years 2 months 12 days

4 years 7 months 6 days

Standard & Poor's, BB Rating [Member]

Credit Derivatives [Line Items]

Derivative Average Remaining Maturity

^[1]

3 years 8 months 12 days

^[3]

3 years 6 months

^[2]

Standard & Poor's, BB Rating [Member] | Single Name Credit Default Swaps [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

$ (2)

(1)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

Standard & Poor's, BB Rating [Member] | Credit Default Subtotal [Member]

Credit Derivatives [Line Items]

Credit Derivative Current Fair Value

^[1]

(2)

(1)

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

$ 25

$ 15

[1]	The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).
[2]	Assumes the value of the referenced credit obligations is zero.
[3]	The weighted average years to maturity of the credit default swaps is calculated based on weighted average notional amounts.

Derivative Instruments (Derivative Instruments Offsetting Balance Sheet) (Details) - USD ($)
$ in Millions

Jun. 30, 2022

Dec. 31, 2021

Derivative Assets [Abstract]

Derivative Fair Value Of Free Standing Derivative Asset

$ 148

$ 194

Gross Amounts Offset in the Balance Sheet

(33)

(19)

Net Amounts Presented in the Balance Sheet

115

175

Derivative Asset, Fair Value of Collateral

^[1]

(115)

(175)

Net Amount

Derivative Liabilities [Abstract]

Derivative Fair Value Of Free Standing Derivative Liability

299

Gross Amounts Offset in the Balance Sheet

(33)

(19)

Net Amounts Presented in the Balance Sheet

266

Gross Amounts Not Offset in the Balance Sheet - Financial Instruments

^[1]

(266)

(39)

Net Amount

$ 0

[1]	Includes initial margin posted to a central clearing partner for financial instruments and excludes the excess of collateral received/pledged from/to the counterparty.

Derivative Instruments (Narrative) (Details) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Derivative Instruments, Gain (Loss) [Line Items]

Document Period End Date

Jun. 30, 2022

Credit Risk Derivative Liabilities, at Fair Value

$ 15

Maximum Potential Future Exposure on Credit Risk Derivatives

^[1],[2]

1,675

$ 1,321

Cumulative Foreign Currency Translation Gain Loss Recorded In Accumulated Other Comprehensive Income Loss For Terminated Net Investment In Foreign Operations Hedges

160

$ 137

Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net

$ 4

[1]	Assumes the value of the referenced credit obligations is zero.
[2]	The rating agency designations are based on ratings from Standard and Poor’s (“S&P”).

Fair Value of Assets and Liabilities (Balances of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($)
$ in Millions

Jun. 30, 2022

Dec. 31, 2021

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

$ 53,294

$ 60,749

Equity Method Investments, Fair Value Disclosure

127

151

Funds withheld at interest embedded derivatives

(174)

104

Cash and cash equivalents

1,156

1,138

Short-term investments

234

Derivative Assets (Liabilities), at Fair Value, Net

175

Investments, Fair Value Disclosure

148

^[1]

227

^[2]

Assets, Fair Value Disclosure

54,847

62,516

Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives

744

855

Funds Held under Reinsurance Agreements, Liability

(250)

(61)

Liabilities Fair Value Disclosure

Other liabilities

(39)

Financial Liabilities Fair Value Disclosure

760

833

Fair Value, Net Asset (Liability)

620

581

Funds Held Under Reinsurance Agreements, Asset Fair Value Disclosure

Other

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Interest Rate Swap [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

115

Liabilities Fair Value Disclosure

Other liabilities

(266)

Fair Value Option Contractholder Directed Unit Linked Investments [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Corporate Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

34,374

38,103

Canadian and Canadian provincial governments

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

3,809

4,944

Residential mortgage-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

950

1,050

Asset-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

3,782

4,005

Assets, Fair Value Disclosure

233

205

Commercial Mortgage Backed Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

1,735

1,849

US Government Agencies Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

962

2,105

Assets, Fair Value Disclosure

US States and Political Subdivisions Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

1,116

1,323

Debt Security, Government, Non-US [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

6,566

7,370

Fair Value Inputs Level 1 Member

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

862

1,993

Equity Method Investments, Fair Value Disclosure

101

Funds withheld at interest embedded derivatives

Cash and cash equivalents

1,156

1,138

Short-term investments

171

Derivative Assets (Liabilities), at Fair Value, Net

Investments, Fair Value Disclosure

^[1]

^[2]

Assets, Fair Value Disclosure

2,269

3,232

Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives

Funds Held under Reinsurance Agreements, Liability

Liabilities Fair Value Disclosure

Other liabilities

Financial Liabilities Fair Value Disclosure

Funds Held Under Reinsurance Agreements, Asset Fair Value Disclosure

Fair Value Inputs Level 1 Member | Other

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 1 Member | Interest Rate Swap [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Liabilities Fair Value Disclosure

Other liabilities

Fair Value Inputs Level 1 Member | Fair Value Option Contractholder Directed Unit Linked Investments [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 1 Member | Corporate Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | Canadian and Canadian provincial governments

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | Residential mortgage-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | Asset-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | Commercial Mortgage Backed Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | US Government Agencies Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

862

1,993

Fair Value Inputs Level 1 Member | US States and Political Subdivisions Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 1 Member | Debt Security, Government, Non-US [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 2 Member

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

46,868

53,611

Equity Method Investments, Fair Value Disclosure

Funds withheld at interest embedded derivatives

Cash and cash equivalents

Short-term investments

Derivative Assets (Liabilities), at Fair Value, Net

175

Investments, Fair Value Disclosure

148

^[1]

227

^[2]

Assets, Fair Value Disclosure

47,058

53,874

Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives

Funds Held under Reinsurance Agreements, Liability

Liabilities Fair Value Disclosure

Other liabilities

(39)

Financial Liabilities Fair Value Disclosure

266

Funds Held Under Reinsurance Agreements, Asset Fair Value Disclosure

Fair Value Inputs Level 2 Member | Other

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 2 Member | Interest Rate Swap [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

115

Liabilities Fair Value Disclosure

Other liabilities

(266)

Fair Value Inputs Level 2 Member | Fair Value Option Contractholder Directed Unit Linked Investments [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 2 Member | Corporate Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

30,136

34,215

Fair Value Inputs Level 2 Member | Canadian and Canadian provincial governments

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

3,809

4,944

Fair Value Inputs Level 2 Member | Residential mortgage-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

944

1,049

Fair Value Inputs Level 2 Member | Asset-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

2,624

2,908

Fair Value Inputs Level 2 Member | Commercial Mortgage Backed Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

1,652

1,768

Fair Value Inputs Level 2 Member | US Government Agencies Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

100

Fair Value Inputs Level 2 Member | US States and Political Subdivisions Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

1,083

1,290

Fair Value Inputs Level 2 Member | Debt Security, Government, Non-US [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

6,530

7,337

Fair Value Inputs Level 3 Member

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

5,564

5,145

Equity Method Investments, Fair Value Disclosure

Funds withheld at interest embedded derivatives

(174)

104

Cash and cash equivalents

Short-term investments

Derivative Assets (Liabilities), at Fair Value, Net

Investments, Fair Value Disclosure

^[1]

^[2]

Assets, Fair Value Disclosure

5,520

5,410

Fair Value Measured On Recurring Basis Guaranteed Interest Contracts Embedded Derivatives

744

855

Funds Held under Reinsurance Agreements, Liability

(250)

(61)

Liabilities Fair Value Disclosure

Other liabilities

Financial Liabilities Fair Value Disclosure

494

794

Funds Held Under Reinsurance Agreements, Asset Fair Value Disclosure

Fair Value Inputs Level 3 Member | Other

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 3 Member | Interest Rate Swap [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Liabilities Fair Value Disclosure

Other liabilities

Fair Value Inputs Level 3 Member | Fair Value Option Contractholder Directed Unit Linked Investments [Member]

Assets Fair Value Disclosure

Investments, Fair Value Disclosure

Fair Value Inputs Level 3 Member | Corporate Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

4,238

3,888

Fair Value Inputs Level 3 Member | Canadian and Canadian provincial governments

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 3 Member | Residential mortgage-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 3 Member | Asset-backed securities

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

1,158

1,097

Fair Value Inputs Level 3 Member | Commercial Mortgage Backed Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 3 Member | US Government Agencies Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 3 Member | US States and Political Subdivisions Debt Securities [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

Fair Value Inputs Level 3 Member | Debt Security, Government, Non-US [Member]

Assets Fair Value Disclosure

Fixed maturity securities, available-for-sale

$ 36

$ 33

[1]	Other invested assets included in the fair value hierarchy exclude limited partnership interests that are measured at estimated fair value using the net asset value (“NAV”) per share (or its equivalent) as a practical expedient. As of June 30, 2022, the fair value of such investments was $620 million.
[2]	Other invested assets included in the fair value hierarchy exclude limited partnership interests that are measured at estimated fair value using the NAV per share (or its equivalent) as a practical expedient. As of December 31, 2021, the fair value of such investments was $581 million

Fair Value of Assets and Liabilities (Financial Instruments where Carrying Amounts and Fair Values May Differ) (Details) - USD ($)
$ in Millions

Jun. 30, 2022

Dec. 31, 2021

Dec. 31, 2020

Assets

Mortgage loans on real estate (net of valuation allowances)

$ 6,544

$ 6,283

Policy loans

1,218

1,234

Funds withheld at interest

6,393

6,954

Cash and cash equivalents

2,556

2,948

$ 3,408

Short-term investments

272

Other invested assets

3,110

3,070

Accrued investment income

572

533

Liabilities

Interest-sensitive contract liabilities

29,023

26,377

Other liabilities

2,899

2,663

Long-term debt

3,667

Reported Value Measurement [Member]

Assets

Mortgage loans on real estate (net of valuation allowances)

^[1]

6,544

6,283

Policy loans

^[1]

1,218

1,234

Funds withheld at interest

^[1]

6,519

6,747

Cash and cash equivalents

^[1]

1,400

1,810

Short-term investments

^[1]

Other invested assets

^[1]

924

910

Accrued investment income

^[1]

572

533

Liabilities

Interest-sensitive contract liabilities

^[1]

21,836

18,625

Other liabilities

^[1]

1,610

1,658

Long-term debt

^[1]

3,667

Collateral finance and securitization notes

152

^[1]

180

Estimate of Fair Value Measurement [Member]

Assets

Mortgage loans on real estate (net of valuation allowances)

6,051

6,580

Policy loans

1,218

1,234

Funds withheld at interest

6,335

7,075

Cash and cash equivalents

1,400

1,810

Short-term investments

Other invested assets

805

907

Accrued investment income

572

533

Liabilities

Interest-sensitive contract liabilities

21,399

19,540

Other liabilities

1,417

1,657

Long-term Debt, Fair Value

3,463

3,886

Collateral finance and securitization notes

129

153

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 1 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

Policy loans

Funds withheld at interest

Cash and cash equivalents

1,400

1,810

Short-term investments

Other invested assets

Accrued investment income

Liabilities

Interest-sensitive contract liabilities

Other liabilities

Long-term Debt, Fair Value

Collateral finance and securitization notes

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 2 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

Policy loans

1,218

1,234

Funds withheld at interest

Cash and cash equivalents

Short-term investments

Other invested assets

Accrued investment income

572

533

Liabilities

Interest-sensitive contract liabilities

Other liabilities

Long-term Debt, Fair Value

Collateral finance and securitization notes

Estimate of Fair Value Measurement [Member] | Fair Value Inputs Level 3 Member

Assets

Mortgage loans on real estate (net of valuation allowances)

6,051

6,580

Policy loans

Funds withheld at interest

6,335

7,075

Cash and cash equivalents

Short-term investments

Other invested assets

740

831

Accrued investment income

Liabilities

Interest-sensitive contract liabilities

21,399

19,540

Other liabilities

1,417

1,657

Long-term Debt, Fair Value

3,463

3,886

Collateral finance and securitization notes

$ 129

$ 153

[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.

Segment Information (Total Revenues of Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 3,887	$ 4,137	$ 7,817	$ 8,256
Corporate and Other [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	37	141	94	582
Other Segments \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	2,146	2,249	4,265	4,204
Other Segments \| CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	394	392	781	761
Other Segments \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	581	598	1,239	1,201
Other Segments \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	729	757	1,438	1,508
Life Insurance Product Line [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,868	1,816	3,735	3,453
Life Insurance Product Line [Member] \| Other Segments \| CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	367	366	729	709
Life Insurance Product Line [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	447	459	923	916
Life Insurance Product Line [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	686	653	1,374	1,300
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	278	433	530	751
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| CANADA
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	27	26	52	52
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	134	139	316	285
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 43	$ 104	$ 64	$ 208

Segment Information (Income Loss Before Provision for Income Tax of Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	$ 254	$ 482	$ 194	$ 668
Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	(63)	35	(94)	385
Other Segments \| Americas [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	270	321	148	66
Other Segments \| CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	20	36	39	66
Other Segments \| EMEA [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	35	71	114	63
Other Segments \| Asia Pacific [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	(8)	19	(13)	88
Life Insurance Product Line [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	209	135	43	(203)
Life Insurance Product Line [Member] \| Other Segments \| CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	16	32	22	56
Life Insurance Product Line [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	2	(12)	(4)	(80)
Life Insurance Product Line [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	58	(12)	109	29
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	61	186	105	269
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| CANADA
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	4	4	17	10
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	33	83	118	143
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income before income taxes	$ (66)	$ 31	$ (122)	$ 59

Segment Information (Total Assets of Reportable Segments) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 84,609	$ 92,175
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,331	7,905
Other Segments \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	47,709	49,600
Other Segments \| CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	5,060	5,109
Other Segments \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	9,819	11,835
Other Segments \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	18,690	17,726
Life Insurance Product Line [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	21,508	20,572
Life Insurance Product Line [Member] \| Other Segments \| CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	5,026	5,091
Life Insurance Product Line [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	4,506	4,670
Life Insurance Product Line [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	9,196	10,048
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Americas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	26,201	29,028
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| CANADA
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	34	18
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| EMEA [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	5,313	7,165
Nontraditional Long-Duration Contracts [Member] \| Other Segments \| Asia Pacific [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 9,494	$ 7,678

Commitments, Contingencies and Guarantees (Commitments to Fund Investments) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Limited Partner [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 1,030	$ 1,031
Commercial Loan [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	102	152
Bank Loans [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	786	768
Equity Release Mortgages [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability	$ 96	$ 41

Commitments, Contingencies and Guarantees (Maximum Potential Obligation) (Details) $ in Millions	Jun. 30, 2022 USD ($)
2034
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 1,243
2035
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	2,660
2036
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	3,599
2037
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	6,850
2038
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	2,300
2039
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	7,350
2046
Other Commitments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 3,000

Commitments, Contingencies and Guarantees (Guarantees Issued) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Treaty guarantees
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 1,946	$ 2,208
Treaty guarantees, net of assets in trust
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	1,139	1,281
Securities borrowing and repurchase arrangements
Guarantor Obligations [Line Items]
Guarantor Obligations, Current Carrying Value	$ 170	$ 134

Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances	$ 1,200	$ 1,400
Other Notes Payable	$ 900	$ 500

Income Tax (Provision for Income Tax Expense) (Details)	3 Months Ended		6 Months Ended
Income Tax (Provision for Income Tax Expense) (Details)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	22.10%	28.50%	30.10%	27.60%

Employee Benefit Plans (Defined Benefit Plans Disclosure) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4	$ 5	$ 8	$ 9
Interest cost	2	1	3	2
Expected return on plan assets	(3)	(3)	(6)	(5)
Amortization of prior service cost	0	0	0	0
Amortization of prior actuarial loss	1	2	2	3
Total	4	5	7	9
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	1	2
Interest cost	1	1	1	1
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	(1)	(1)	(1)	(1)
Amortization of prior actuarial loss	1	1	1	1
Total	$ 1	$ 2	$ 2	$ 3

Reinsurance (Ceded Reinsurance Receivable Assets) (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 2,558		$ 2,580
Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 2,558		2,580
Reinsurer Concentration Risk	100.00%	100.00%
Other Reinsurers [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 158		174
Reinsurer Concentration Risk	6.30%	6.80%
AM Best, A+ Rating [Member] \| Reinsurer A [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 1,611		1,626
Reinsurer Concentration Risk	63.00%	63.00%
AM Best, A+ Rating [Member] \| Reinsurer B [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 431		423
Reinsurer Concentration Risk	16.80%	16.40%
AM Best, A+ Rating [Member] \| Reinsurer C [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 208		212
Reinsurer Concentration Risk	8.10%	8.20%
AM Best, A+ Rating [Member] \| Reinsurer E [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 47		42
Reinsurer Concentration Risk	1.80%	1.60%
AM Best, A Rating [Member] \| Reinsurer D [Member] \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 59		59
Reinsurer Concentration Risk	2.30%	2.30%
AM Best, A++ Rating [Member] \| Reinsurer F \| Reinsurer Concentration Risk \| Reinsurance Recoverable Including Reinsurance Premium Paid
Ceded Credit Risk [Line Items]
Reinsurance ceded receivables and other	$ 44		$ 44
Reinsurer Concentration Risk	1.70%	1.70%

Reinsurance (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
Reinsurance (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Ceded Credit Risk [Line Items]
Reinsurance Claims Recoverables	$ 215		$ 203
Claims Recoverable From Retrocessionaires Past Due	$ 10		$ 10
AM Best, A- Rating [Member]
Ceded Credit Risk [Line Items]
Ceded Credit Risk, Disclosure	“A- (excellent)”	“A- (excellent)”

Policy Claims and Benefits (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Liability for Claims and Claims Adjustment Expense	$ 8,053	$ 7,556
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	(556)	(641)
Liability For Unpaid Claims And Claims Adjustment Expense Net Of Recoverable	7,497	6,915
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims [Abstract]
Current Year Claims and Claims Adjustment Expense	6,813	7,631
Prior Year Claims and Claims Adjustment Expense	(114)	(122)
Liability for Unpaid Claims and Claims Adjustment Expense, Incurred Claims	6,699	7,509
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid [Abstract]
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Current Year	(2,009)	(2,747)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid, Prior Years	(4,975)	(4,358)
Liability for Unpaid Claims and Claims Adjustment Expense, Claims Paid	(6,984)	(7,105)
Liability for Unpaid Claims and Claims Adjustment Expense, Interest Accretion	15	20
Liability for Unpaid Claims and Claims Adjustment Expense, Foreign Currency Translation Gain (Loss)	(233)	(38)
Liability for Unpaid Claims and Claims Adjustment Expense, Adjustments	(218)	(18)
Liability For Unpaid Claims And Claims Adjustment Expense Net Of Recoverable	6,994	7,302
Reinsurance Recoverable for Unpaid Claims and Claims Adjustments	(573)	(674)
Liability for Claims and Claims Adjustment Expense	$ 7,567	$ 7,976

New Accounting Standards (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 5,929		$ 5,929		$ 9,272	$ 13,014
Other Comprehensive Income (Loss), Net of Tax	(3,504)	$ 1,039	(7,201)	$ (1,318)
Accounting Standards Update 2018-12 \| Cumulative Effect, Period of Adoption, Adjusted Balance \| Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,000		1,000
Other Comprehensive Income (Loss), Net of Tax			5,100
Accounting Standards Update 2018-12 \| Cumulative Effect, Period of Adoption, Adjusted Balance \| Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,300		1,300
Other Comprehensive Income (Loss), Net of Tax			7,100
Revision of Prior Period, Accounting Standards Update, Adjustment \| Accounting Standards Update 2018-12 \| Cumulative Effect, Period of Adoption, Adjusted Balance \| Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	500		500
Other Comprehensive Income (Loss), Net of Tax			3,200
Revision of Prior Period, Accounting Standards Update, Adjustment \| Accounting Standards Update 2018-12 \| Cumulative Effect, Period of Adoption, Adjusted Balance \| Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 800		800
Other Comprehensive Income (Loss), Net of Tax			$ 5,200

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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+ Details

Investments (Securities Pledged as Collateral Related to Repurchase Reverse Repurchase Program) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	$ 81	$ 102
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	593	736
Obligation to Return Securities Received as Collateral	674	838
Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Obligation to Return Securities Received as Collateral	0	0
Maturity up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Obligation to Return Securities Received as Collateral	0	0
Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	58	0
Obligation to Return Securities Received as Collateral	58	0
Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	81	102
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	535	736
Obligation to Return Securities Received as Collateral	616	838
Corporate Debt Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	68	94
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	340	366
Corporate Debt Securities [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Corporate Debt Securities [Member] \| Maturity up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Corporate Debt Securities [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	51	0
Corporate Debt Securities [Member] \| Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	68	94
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	289	366
Debt Security, Government, Non-US [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	10	5
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	253	370
Debt Security, Government, Non-US [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Debt Security, Government, Non-US [Member] \| Maturity up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	0	0
Debt Security, Government, Non-US [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	7	0
Debt Security, Government, Non-US [Member] \| Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	10	5
FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement	246	370
US States and Political Subdivisions Debt Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	3	3
US States and Political Subdivisions Debt Securities [Member] \| Maturity Overnight [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
US States and Political Subdivisions Debt Securities [Member] \| Maturity up to 30 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
US States and Political Subdivisions Debt Securities [Member] \| Maturity 30 to 90 Days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	0	0
US States and Political Subdivisions Debt Securities [Member] \| Maturity over 90 days [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Securities Loaned, Fair Value of Collateral	$ 3	$ 3

Fair Value of Assets and Liabilities (Quantitative Information for Level 3 Inputs) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Document Period End Date	Jun. 30, 2022
Assets, Fair Value Disclosure	$ 54,847	$ 62,516
Corporate Debt Securities [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, Fair Value Disclosure	$ 35	$ 49
Corporate Debt Securities [Member] \| Weighted Average [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0.01	0.01
Corporate Debt Securities [Member] \| Maximum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input		0.01
Corporate Debt Securities [Member] \| Minimum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input		0
Asset-backed securities
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, Fair Value Disclosure	$ 233	$ 205
Asset-backed securities \| Weighted Average [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0.03	0.04
Asset-backed securities \| Maximum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0.18	0.18
Asset-backed securities \| Minimum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0	0.02
US Government Agencies Debt Securities [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, Fair Value Disclosure	$ 10	$ 12
US Government Agencies Debt Securities [Member] \| Weighted Average [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0.01	0.01
US Government Agencies Debt Securities [Member] \| Maximum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0.01	0.01
US Government Agencies Debt Securities [Member] \| Minimum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	0	0
Equity securities \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, Fair Value Disclosure	$ 6	$ 5
Funds Withheld At Interest Embedded Derivatives [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, Fair Value Disclosure	61	182
Embedded Derivatives In Indexed Annuity [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 584	$ 693
Embedded Derivatives In Indexed Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.02	0.02
Embedded Derivatives In Indexed Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.04	0.04
Embedded Derivatives In Indexed Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.01	0.01
Embedded Derivatives In Variable Annuity [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 160	$ 162
Measurement Input, Mortality Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.03	0.03
Measurement Input, Mortality Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	1	1
Measurement Input, Mortality Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0	0
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.03	0.02
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	1	1
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.02	0.02
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	1	1
Measurement Input, Mortality Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Lapse Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.12	0.18
Measurement Input, Lapse Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.35	0.35
Measurement Input, Lapse Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0	0
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.11	0.16
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.35	0.35
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.04	0.04
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.25	0.25
Measurement Input, Lapse Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Withdrawal Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.04	0.04
Measurement Input, Withdrawal Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.05	0.05
Measurement Input, Withdrawal Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0	0
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.03	0.03
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.05	0.05
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Indexed Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.06	0.05
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.07	0.07
Measurement Input, Withdrawal Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Counterparty Credit Risk [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0	0
Measurement Input, Counterparty Credit Risk [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.05	0.05
Measurement Input, Counterparty Credit Risk [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0	0
Measurement Input, Counterparty Credit Risk [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.01	0.01
Measurement Input, Counterparty Credit Risk [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.05	0.05
Measurement Input, Counterparty Credit Risk [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input, Long-term Revenue Growth Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Weighted Average [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.14	0.14
Measurement Input, Long-term Revenue Growth Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Maximum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0.27	0.27
Measurement Input, Long-term Revenue Growth Rate [Member] \| Embedded Derivatives In Variable Annuity [Member] \| Minimum [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Liability, Measurement Input	0	0
Measurement Input Crediting Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Weighted Average [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.02	0.02
Measurement Input Crediting Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Maximum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.04	0.04
Measurement Input Crediting Rate [Member] \| Funds Withheld At Interest Embedded Derivatives [Member] \| Minimum [Member] \| Valuation, Income Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Embedded Derivative Asset, Measurement Input	0.01	0.01
Measurement Input, EBITDA Multiple [Member] \| Corporate Debt Securities [Member] \| Weighted Average [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	6.5	6.4
Measurement Input, EBITDA Multiple [Member] \| Corporate Debt Securities [Member] \| Maximum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	7.0	7.0
Measurement Input, EBITDA Multiple [Member] \| Corporate Debt Securities [Member] \| Minimum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt Instrument, Measurement Input	5.0	5.2
Measurement Input, EBITDA Multiple [Member] \| Equity securities \| Weighted Average [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Securities, FV-NI, Measurement Input	8.5	8.0
Measurement Input, EBITDA Multiple [Member] \| Equity securities \| Maximum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Securities, FV-NI, Measurement Input	11.2	10.6
Measurement Input, EBITDA Multiple [Member] \| Equity securities \| Minimum [Member] \| Valuation, Market Approach [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Securities, FV-NI, Measurement Input	6.9	6.9

Investments (Fair Value and Losses by Investment Category and Length of Time in a Loss Position) (Details) - Fixed maturity securities - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 37,868	$ 10,644
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	3,021	2,640
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	643	171
Debt Securities, Available-for-sale, Unrealized Loss Position	40,889	13,284
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	5,119	347
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	4,476	176
Non-investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,494	599
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	237	185
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	77	67
Debt Securities, Available-for-sale, Unrealized Loss Position	1,731	784
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	254	87
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	177	20
Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	36,374	10,045
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	2,784	2,455
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	566	104
Debt Securities, Available-for-sale, Unrealized Loss Position	39,158	12,500
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	4,865	260
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	4,299	156
Corporate Debt Securities [Member] \| Non-investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,234	463
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	103	97
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	25	44
Debt Securities, Available-for-sale, Unrealized Loss Position	1,337	560
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	162	57
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	137	13
Corporate Debt Securities [Member] \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	25,035	4,135
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	1,124	946
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	327	51
Debt Securities, Available-for-sale, Unrealized Loss Position	26,159	5,081
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	3,497	137
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3,170	86
Canadian and Canadian provincial governments \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	359	20
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	13	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	6	0
Debt Securities, Available-for-sale, Unrealized Loss Position	372	20
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	35	1
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	29	1
Residential mortgage-backed securities \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	631	132
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	122	102
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	23	4
Debt Securities, Available-for-sale, Unrealized Loss Position	753	234
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	62	7
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	39	3
Asset-backed securities \| Non-investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	61	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	8	13
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2	13
Debt Securities, Available-for-sale, Unrealized Loss Position	69	13
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	11	13
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	9	0
Asset-backed securities \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	2,850	1,747
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	640	589
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	45	6
Debt Securities, Available-for-sale, Unrealized Loss Position	3,490	2,336
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	289	28
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	244	22
Commercial mortgage-backed securities \| Non-investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	29	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	11	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	1	0
Debt Securities, Available-for-sale, Unrealized Loss Position	40	0
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	4	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3	0
Commercial mortgage-backed securities \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	1,523	152
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	39	35
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	4	2
Debt Securities, Available-for-sale, Unrealized Loss Position	1,562	187
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	115	4
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	111	2
US Government Agencies Debt Securities [Member] \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	839	1,513
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	24	31
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	9	2
Debt Securities, Available-for-sale, Unrealized Loss Position	863	1,544
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	146	8
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	137	6
US States and Political Subdivisions Debt Securities [Member] \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	789	109
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	27	28
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	7	2
Debt Securities, Available-for-sale, Unrealized Loss Position	816	137
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	107	5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	100	3
Debt Security, Government, Non-US [Member] \| Non-investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	170	136
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	115	75
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	49	10
Debt Securities, Available-for-sale, Unrealized Loss Position	285	211
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	77	17
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	28	7
Debt Security, Government, Non-US [Member] \| Investment grade securities
Estimated Fair Values And Gross Unrealized Losses, OTTI Impairment Losses Reported In AOCI [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	4,348	2,237
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	795	724
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	145	37
Debt Securities, Available-for-sale, Unrealized Loss Position	5,143	2,961
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	614	70
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 469	$ 33