CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Restricted commercial mortgage loans related to securitization entities | $ 4 | $ 4 |
| Class A common stock, par value | $ 0.001 | $ 0.001 |
| Class A common stock, shares authorized | 1,500,000,000 | 1,500,000,000 |
| Class A common stock, shares issued | 593,000,000 | 592,000,000 |
| Class A common stock, shares outstanding | 505,000,000 | 504,000,000 |
| Treasury stock, shares | 88,000,000 | 88,000,000 |
| Debt securities amortized costs | $ 54,136 | |
| Debt securities allowance for credit losses | $ 0 |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||||
| Revenues: | ||||||
| Premiums | $ 1,015 | $ 988 | ||||
| Net investment income | 793 | 794 | ||||
| Net investment gains (losses) | (152) | 75 | ||||
| Policy fees and other income | 181 | 187 | ||||
| Total revenues | 1,837 | 2,044 | ||||
| Benefits and expenses: | ||||||
| Benefits and other changes in policy reserves | 1,361 | 1,282 | ||||
| Interest credited | 141 | 147 | ||||
| Acquisition and operating expenses, net of deferrals | 249 | 237 | ||||
| Amortization of deferred acquisition costs and intangibles | 116 | 81 | ||||
| Interest expense | 52 | 60 | ||||
| Total benefits and expenses | 1,919 | 1,807 | ||||
| Income (loss) from continuing operations before income taxes | (82) | 237 | ||||
| Provision (benefit) for income taxes | (10) | 69 | ||||
| Income (loss) from continuing operations | (72) | 168 | ||||
| Income from discontinued operations, net of taxes | 0 | 62 | ||||
| Net income (loss) | (72) | 230 | ||||
| Less: net income (loss) from continuing operations attributable to noncontrolling interests | (6) | 20 | ||||
| Less: net income from discontinued operations attributable to noncontrolling interests | 0 | 36 | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders | (66) | 174 | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders: | ||||||
| Income (loss) from continuing operations available to Genworth Financial, Inc.'s common stockholders | (66) | 148 | ||||
| Income from discontinued operations available to Genworth Financial, Inc.'s common common stockholders | 0 | 26 | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders | $ (66) | $ 174 | ||||
| Income (loss) from continuing operations available to Genworth Financial, Inc.'s common stockholders per share: | ||||||
| Basic | $ (0.13) | $ 0.29 | ||||
| Diluted | (0.13) | 0.29 | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders per share: | ||||||
| Basic | [1] | (0.13) | 0.35 | |||
| Diluted | $ (0.13) | $ 0.34 | ||||
| Weighted-average common shares outstanding: | ||||||
| Basic | 504.3 | 501.2 | ||||
| Diluted | [2] | 504.3 | 508.6 | |||
| ||||||
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Net income | $ (72) | $ 230 |
| Other comprehensive income (loss), net of taxes: | ||
| Net unrealized gains (losses) on securities without an allowance for credit losses | (320) | |
| Net unrealized gains (losses) on securities not other-than-temporarily impaired | 379 | |
| Net unrealized gains (losses) on other-than-temporarily impaired securities | 1 | |
| Derivatives qualifying as hedges | 753 | 69 |
| Foreign currency translation and other adjustments | (98) | 54 |
| Total other comprehensive income (loss) | 335 | 503 |
| Total comprehensive income | 263 | 733 |
| Less: comprehensive income (loss) attributable to noncontrolling interests | (53) | 111 |
| Total comprehensive income available to Genworth Financial, Inc.'s common stockholders | $ 316 | $ 622 |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions |
Total |
Common stock |
Additional paid-in capital |
Accumulated other comprehensive income (loss) |
Retained earnings |
Treasury stock, at cost |
Total Genworth Financial, Inc.'s stockholders' equity |
Noncontrolling interests |
|---|---|---|---|---|---|---|---|---|
| Balances, beginning at Dec. 31, 2018 | $ 14,189 | $ 1 | $ 11,987 | $ 2,044 | $ 1,118 | $ (2,700) | $ 12,450 | $ 1,739 |
| Repurchase of subsidiary shares | (12) | (12) | ||||||
| Comprehensive income (loss): | ||||||||
| Net income (loss) | 230 | 174 | 174 | 56 | ||||
| Other comprehensive income (loss), net of taxes | 503 | 448 | 448 | 55 | ||||
| Total comprehensive income | 733 | 622 | 111 | |||||
| Dividends to noncontrolling interests | (28) | (28) | ||||||
| Stock-based compensation expense and exercises and other | 2 | 2 | (2) | |||||
| Balances, ending at Mar. 31, 2019 | 14,882 | 1 | 11,989 | 2,492 | 1,292 | (2,700) | 13,074 | 1,808 |
| Balances, beginning at Dec. 31, 2019 | 14,632 | 1 | 11,990 | 3,433 | 1,461 | (2,700) | 14,185 | 447 |
| Cumulative effect of change in accounting, net of taxes | (55) | (55) | (55) | |||||
| Comprehensive income (loss): | ||||||||
| Net income (loss) | (72) | (66) | (66) | (6) | ||||
| Other comprehensive income (loss), net of taxes | 335 | 382 | 382 | (47) | ||||
| Total comprehensive income | 263 | 316 | (53) | |||||
| Dividends to noncontrolling interests | (9) | (9) | ||||||
| Stock-based compensation expense and exercises and other | 3 | 3 | 3 | |||||
| Balances, ending at Mar. 31, 2020 | $ 14,834 | $ 1 | $ 11,993 | $ 3,815 | $ 1,340 | $ (2,700) | $ 14,449 | $ 385 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Cash flows from operating activities: | ||
| Net income (loss) | $ (72) | $ 230 |
| Less income from discontinued operations, net of taxes | 0 | (62) |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
| Amortization of fixed maturity securities discounts and premiums | (35) | (18) |
| Net investment (gains) losses | 152 | (75) |
| Charges assessed to policyholders | (158) | (165) |
| Acquisition costs deferred | (4) | (9) |
| Amortization of deferred acquisition costs and intangibles | 116 | 81 |
| Deferred income taxes | (11) | 51 |
| Derivative instruments, limited partnerships and other | 347 | (32) |
| Stock-based compensation expense | 11 | 6 |
| Change in certain assets and liabilities: | ||
| Accrued investment income and other assets | (107) | (242) |
| Insurance reserves | 328 | 301 |
| Current tax liabilities | (5) | 9 |
| Other liabilities, policy and contract claims and other policy-related balances | 118 | 27 |
| Cash from operating activities—discontinued operations | 32 | |
| Net cash from operating activities | 680 | 134 |
| Cash flows from (used by) investing activities: | ||
| Fixed maturity securities | 921 | 871 |
| Commercial mortgage loans | 139 | 130 |
| Other invested assets | 34 | 20 |
| Proceeds from sales of investments: | ||
| Fixed maturity and equity securities | 369 | 1,592 |
| Purchases and originations of investments: | ||
| Fixed maturity and equity securities | (1,804) | (1,976) |
| Commercial mortgage loans | (107) | (370) |
| Other invested assets | (160) | (94) |
| Short-term investments, net | 48 | 98 |
| Policy loans, net | 9 | 12 |
| Cash used by investing activities—discontinued operations | (6) | |
| Net cash from (used by) investing activities | (551) | 277 |
| Cash flows used by financing activities: | ||
| Deposits to universal life and investment contracts | 180 | 198 |
| Withdrawals from universal life and investment contracts | (493) | (581) |
| Redemption of non-recourse funding obligations | (315) | |
| Repayment and repurchase of long-term debt | (420) | |
| Repurchase of subsidiary shares | (12) | |
| Dividends paid to noncontrolling interests | (9) | (14) |
| Other, net | 100 | 48 |
| Cash used by financing activities—discontinued operations | (14) | |
| Net cash used by financing activities | (957) | (375) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash (includes $— and $5 related to discontinued operations) | (30) | 8 |
| Net change in cash, cash equivalents and restricted cash | (858) | 44 |
| Cash, cash equivalents and restricted cash at beginning of period | 3,341 | 2,177 |
| Cash, cash equivalents and restricted cash at end of period | 2,483 | 2,221 |
| Less cash, cash equivalents and restricted cash of discontinued operations at end of period | 201 | |
| Cash, cash equivalents and restricted cash of continuing operations at end of period | $ 2,483 | $ 2,020 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Statement of Cash Flows [Abstract] | ||
| Discontinued operations exchange rate effect | $ 0 | $ 5 |
Formation of Genworth and Basis of Presentation |
3 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | |||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||
| Formation of Genworth and Basis of Presentation | (1) Formation of Genworth and Basis of Presentation Genworth Holdings, Inc. (“Genworth Holdings”) (formerly known as Genworth Financial, Inc.) was incorporated in Delaware in 2003 in preparation for an initial public offering (“IPO”) of Genworth’s common stock, which was completed on May 28, 2004. On April 1, 2013, Genworth Holdings completed a holding company reorganization pursuant to which Genworth Holdings became a direct, 100% owned subsidiary of a new public holding company that it had formed. The new public holding company was incorporated in Delaware on December 5, 2012, in connection with the reorganization, and was renamed Genworth Financial, Inc. (“Genworth Financial”) upon the completion of the reorganization. On October 21, 2016, Genworth Financial entered into an agreement and plan of merger (the “Merger Agreement”) with Asia Pacific Global Capital Co., Ltd. (“Parent”), a limited liability company incorporated in the People’s Republic of China and a subsidiary of China Oceanwide Holdings Group Co., Ltd., a limited liability company incorporated in the People’s Republic of China (together with its affiliates, “China Oceanwide”), and Asia Pacific Global Capital USA Corporation (“Merger Sub”), a Delaware corporation and a direct, wholly-owned subsidiary of Asia Pacific Insurance USA Holdings LLC (“Asia Pacific Insurance”), which is a Delaware limited liability company and owned by China Oceanwide, pursuant to which, subject to the terms and conditions set forth therein, Merger Sub would merge with and into Genworth Financial with Genworth Financial surviving the merger as a direct, wholly-owned subsidiary of Asia Pacific Insurance. China Oceanwide has agreed to acquire all of our outstanding common stock for a total transaction value of approximately $2.7 billion, or $5.43 per share in cash. At a special meeting held on March 7, 2017, Genworth Financial’s stockholders voted on and approved a proposal to adopt the Merger Agreement. The closing of the transaction remains subject to other closing conditions. The accompanying unaudited condensed financial statements include on a consolidated basis the accounts of Genworth Financial and the affiliate companies in which it holds a majority voting interest or where it is the primary beneficiary of a variable interest entity (“VIE”). All intercompany accounts and transactions have been eliminated in consolidation. References to “Genworth Financial,” “Genworth,” the “Company,” “we” or “our” in the accompanying unaudited condensed consolidated financial statements and the notes thereto are, unless the context otherwise requires, to Genworth Financial, Inc. on a consolidated basis. We operate our business through the following four operating segments:
In addition to our four operating business segments, we also have Corporate and Other activities which include debt financing expenses that are incurred at the Genworth Holdings level, unallocated corporate income and expenses, eliminations of inter-segment transactions and the results of other businesses that are managed outside of our operating segments, including certain smaller international mortgage insurance businesses and discontinued operations. On December 12, 2019, we completed the sale of Genworth MI Canada Inc. (“Genworth Canada”), our former Canada mortgage insurance business, to an affiliate of Brookfield Business Partners L.P. (“Brookfield”) and received approximately $1.7 billion in net cash proceeds. Prior to the sale, in the third quarter of 2019, Genworth Canada was reported as discontinued operations and its financial position, results of operations and cash flows were separately reported for all periods presented. All prior periods reflected herein have been See note 14 for additional information related to discontinued operations.re-presented on this basis. Unless otherwise indicated, references to the condensed consolidated balance sheets, the condensed consolidated statements of income, the condensed consolidated statements of cash flows and the notes to the condensed consolidated financial statements, exclude amounts related to discontinued operations. The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from those estimates. These unaudited condensed consolidated financial statements include all adjustments (including normal recurring adjustments) considered necessary by management to present a fair statement of the financial position, results of operations and cash flows for the periods presented. The results reported in these unaudited condensed consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. Potential impacts, risks and uncertainties of the coronavirus pandemic (“COVID-19”) may include investment valuations and impairments, commercial mortgage loan restructurings, deferred acquisition cost or intangible assets impairments or the acceleration of amortization, deferred tax asset recoverability and increases to insurance reserves, including higher claims reserves in our mortgage insurance businesses, among other matters. The unaudited condensed consolidated financial statements included herein should be read in conjunction with the audited consolidated financial statements and related notes contained in our 2019 Annual Report on Form 10-K. |
Accounting Changes |
3 Months Ended | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | |||||||||||||||||||
| Disclosue of Accounting Changes [Abstract] | |||||||||||||||||||
| Accounting Changes | (2) Accounting Changes Accounting Pronouncements Recently Adopted On January 1, 2020, we adopted new accounting guidance related to disclosure requirements for defined benefit plans as part of the Financial Accounting Standards Board’s (the “FASB”) disclosure framework project. The guidance adds, eliminates and modifies certain disclosure requirements for defined benefit pension and other postretirement benefit plans. We adopted this new accounting guidance using the retrospective method, which did not have a significant impact on our condensed consolidated financial statements and disclosures. On January 1, 2020, we adopted new accounting guidance related to fair value disclosure requirements as part of the FASB’s disclosure framework project. The guidance adds, eliminates and modifies certain disclosure requirements for fair value measurements. The guidance includes new disclosure requirements related to changes in unrealized gains and losses included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted-average of significant unobservable inputs used to develop Level 3 fair value measurements. We adopted this new accounting guidance using the prospective method for disclosures related to changes in unrealized gains and losses included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period, the range and weighted-average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty and the retrospective method for all other disclosures. This accounting guidance did not impact our condensed consolidated financial statements but impacted our fair value disclosures. In March 2020, the FASB issued new accounting guidance related to reference rate reform, which was effective for us on January 1, 2020. The guidance provides optional guidance to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform, which includes the transition away from the London Interbank Offered Rate (“LIBOR”). This new guidance provides practical expedients for contracts affected by reference rate reform that impact the assessment of derivative hedge effectiveness and contract modifications, to include continuing hedge accounting when certain critical terms of a hedging relationship change and modifying certain effectiveness assessments to exclude certain potential sources of ineffectiveness, and is effective through December 31, 2022. We adopted this guidance prospectively and it did not have a significant impact on our condensed consolidated financial statements or disclosures but may impact our process for assessing the effectiveness of our cash flow hedging relationships, determined on an individual hedge basis, as we implement measures to transition away from LIBOR. On January 1, 2020, we adopted new accounting guidance related to accounting for credit losses on financial instruments. The guidance requires entities to recognize an allowance equal to its estimate of lifetime expected credit losses and applies to most financial instruments not measured at fair value, which primarily includes our commercial mortgage loans, bank loan investments and reinsurance recoverables. The new guidance also requires the recognition of an allowance for expected credit losses as a liability in our consolidated balance sheet for off-balance credit exposures, including commitments to fund bank loan investments, private placement investments and commercial mortgage loans. The new guidance did not have a significant impact on other assets not measured at fair value. The FASB also issued an amendment to the guidance allowing entities to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible instruments, which we did not elect. For our commercial mortgage loans, we determine the adequacy of the allowance for credit losses utilizing an analytical model that provides various loss scenarios based on historical experience adjusted for current events, trends, economic conditions and reasonable and supportable forecasts that result in a loss in the loan portfolio over the estimated life of the loans. We revert to historical credit loss experience for periods beyond forecasts that are reasonable and supportable. The allowance for credit losses is measured on a collective basis with consideration for debt service coverage ratio, debt-to-value, property-type and geographic location. Key inputs into the analytical model include exposure, weighted-average life, return, historical loss rates and forecast scenarios. Actual amounts realized over time could differ from the amounts estimated for the allowance for credit losses reported in the condensed consolidated financial statements. Commercial mortgage loans are written off against the allowance to the extent principal or interest is deemed uncollectible. Accrued interest related to commercial mortgage loans is included in accrued investment income in our condensed consolidated balance sheet and had a carrying value of $24 million as of March 31, 2020. We do not measure an allowance for credit losses related to accrued interest as uncollectible accrued interest related to our commercial mortgage loans are written off after 90 days and once collectability is determined to be uncertain and not probable. Amounts written off related to accrued interest are recorded as a credit loss expense included in net investment gains (losses). We adopted the guidance related to our investments carried at amortized cost using the modified retrospective method and recorded an allowance related to lifetime expected credit losses of $23 million, net of deferred taxes of $6 million, for commercial mortgage loans and bank loan investments, with an offset to cumulative effect of change in accounting within retained earnings. See note 4 for additional disclosures related to commercial mortgage loans. We adopted the guidance related to our of $1 million, included in other liabilities in our condensed consolidated balance sheet, with an offset to cumulative effect of change in accounting within retained earnings.off-balance sheet credit exposures using the modified retrospective method and recorded an allowance related to lifetime expected credit losses The allowance for credit losses for reinsurance recoverables is evaluated based on historical loss experience adjusted for current events and reasonable and supportable forecasts from both internal and external sources. The allowance is measured by reinsurer, taking into consideration the reinsured product type and collateral type, and is calculated based on an externally reported probability of default corresponding to the reinsurer’s credit rating and the expected duration of the reinsurer’s contractual obligation to reimburse us for ceded claims on the underlying policies. Our estimate of the allowance reflects consideration for collateral securing the reinsurance agreements and expected recoveries of amounts previously charged off and expected to be charged off. We also consider other credit risk factors, including, among other factors, the historical frequency and severity of the associated insurance claims, aging of recoverables and regulatory, legal and economic factors, to determine if an additional incremental allowance for credit losses is required. No reversion adjustments are necessary as the starting point for our allowance for credit losses reflects historical loss experience covering the expected duration of the reinsurer’s contractual obligation to reimburse us. If available facts and circumstances indicate the reinsurance recoverable does not reflect expectations consistent with the collective analysis, the reinsurance recoverable is assessed on a separate basis. Write-offs of reinsurance recoverables are deducted from the allowance in the period the reinsurance recoverable is determined to be uncollectible. We adopted the guidance related to our reinsurance recoverables using the modified retrospective method and recorded an allowance related to lifetime expected credit losses of $ 31 million, net of deferred taxes of $ 9million, with an offset to cumulative effect of change in accounting within retained earnings. See note 8 for additional disclosures related to reinsurance recoverables. The new guidance retains most of the existing impairment guidance for available-for-sale fixed maturity securities but amends the presentation of credit losses to reflect an allowance for credit losses as opposed to a write-down of the amortized cost of the investment and permits the reversal of credit losses through net income (loss) when reassessing changes in credit losses each reporting period. Available-for-sale fixed maturity securities in an unrealized loss position are evaluated to determine whether the decline in fair value is related to credit losses or other factors. In making this assessment, we consider the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency/agencies and adverse conditions specifically related to the security, among other factors. If a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, an allowance for credit losses is recorded, limited by the amount that the fair value is less than the amortized cost basis. Estimating the cash flows expected to be collected is a quantitative and qualitative process that incorporates information received from third-party sources along with internal assumptions and judgments. When developing the estimate of cash flows expected to be collected, we utilize an analytical model that provides for various loss scenarios and consider the industry sector, current levels of subordination, geographic location and other relevant characteristics of the security or underlying assets, as well as reasonable and supportable forecasts. Losses are written off against the allowance when deemed uncollectible or when we intend to sell or expect we will be required to sell a security prior to recovering our amortized cost. We exclude accrued interest related to available-for-sale fixed maturity securities from the estimate of allowance for credit losses. Accrued interest is included in accrued investment income in our condensed consolidated balance sheet and had a carrying value of $555 million as of March 31, 2020. We do not measure an allowance for credit losses related to accrued interest as uncollectible accrued interest related to our available-for- sale fixed maturity securities are written off after 90 days and once collectability is determined to be uncertain and not probable. Amounts written off related to accrued interest are recorded as a credit loss expense included in net investment gains (losses). We adopted the guidance related to our available-for-sale fixed maturity securities for which a previous other-than-temporary impairment was recognized prior to the date of adoption using the prospective method and the modified retrospective method for all other available-for-sale fixed maturity securities, which did not have any impact upon adoption. Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued new accounting guidance related to simplifying the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance is currently effective for us on January 1, 2021 using the retrospective method or modified retrospective method for certain changes and prospective method for all other changes, with early adoption permitted. We are in process of evaluating the impact the guidance may have on our consolidated financial statements and disclosures. In August 2018, the FASB issued new accounting guidance that significantly changes the recognition and measurement of long-duration insurance contracts and expands disclosure requirements, which impacts our life insurance deferred acquisition costs (“DAC”) and liabilities. In accordance with the guidance, the more significant changes include:
This guidance is effective for us on January 1, 2022 using the modified retrospective method, with early adoption permitted. Given the nature and extent of the changes to our operations, this guidance is expected to have a significant impact on our condensed consolidated financial statements. |
Earnings (Loss) Per Share |
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| Earnings (Loss) Per Share | (3) Earnings (Loss) Per Share Basic and diluted earnings (loss) per share are calculated by dividing each income (loss) category presented below by the weighted-average basic and diluted common shares outstanding for the periods indicated:
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Investments |
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| Investments | (4) Investments (a) Net Investment Income Sources of net investment income were as follows for the periods indicated:
(b) Net Investment Gains (Losses) The following table sets forth net investment gains (losses) for the periods indicated:
The following represents the activity for credit losses recognized in net income on debt securities where an other-than-temporary impairment was identified and a portion of other-than-temporary impairments was included in other comprehensive income (“OCI”) as of and for the three months ended March 31, 2019:
(c) Unrealized Investment Gains and Losses Net unrealized gains and losses on
available-for-sale investment securities reflected as a separate component of accumulated other comprehensive income (loss) were as follows as of the dates indicated:
The change in net unrealized gains (losses) on
available-for-sale investment securities reported in accumulated other comprehensive income (loss) was as follows as of and for the three months ended March 31:
Amounts reclassified out of accumulated other comprehensive income (loss) to net investment gains (losses) include realized gains (losses) on sales of securities, which are determined on a specific identification basis. (d) Fixed Maturity Securities As of March 31, 2020, the amortized cost or cost, gross unrealized gains (losses), allowance for credit losses and fair value of our fixed maturity securities classified as
available-for-sale were as follows:
As of December 31, 2019, the amortized cost or cost, gross unrealized gains (losses) and fair value of our fixed maturity securities classified as
available-for-sale were as follows:
The following table presents the gross unrealized losses and fair values of our fixed maturity securities, aggregated by investment type and length of time that individual fixed maturity securities have been in a continuous unrealized loss position, as of March 31, 2020:
The following table presents the gross unrealized losses and fair values of our corporate securities, aggregated by investment type and length of time that individual investment securities have been in a continuous unrealized loss position, based on industry, as of March 31, 2020:
We did not recognize an allowance for credit losses on securities in an unrealized loss position. Based on a qualitative and quantitative review of the issuers of the securities, we believe the decline in fair value is largely due to recent market volatility and is not indicative of credit losses. The issuers continue to make timely principal and interest payments. For all securities in an unrealized loss position, we expect to recover the amortized cost based on our estimate of the amount and timing of cash flows to be collected. We do not intend to sell nor do we expect that we will be required to sell these securities prior to recovering our amortized cost. The following table presents the gross unrealized losses and fair values of our fixed maturity securities, aggregated by investment type and length of time that individual fixed maturity securities have been in a continuous unrealized loss position, as of December 31, 2019:
The following table presents the gross unrealized losses and fair values of our corporate securities, aggregated by investment type and length of time that individual investment securities have been in a continuous unrealized loss position, based on industry, as of December 31, 2019:
The scheduled maturity distribution of fixed maturity securities as of March 31, 2020 is set forth below. Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties.
As of March 31, 2020, securities issued by finance and insurance, consumer—non-cyclical, utilities and technology and communications industry groups represented approximately 23%, 15%, 14% and 11%,respectively, of our domestic and foreign corporate fixed maturity securities portfolio. No other industry group comprised more than 10% of our investment portfolio. As of March 31, 2020, we did not hold any fixed maturity securities in any single issuer, other than securities issued or guaranteed by the U.S. government, which exceeded 10% of stockholders’ equity. (e) Commercial Mortgage Loans Our mortgage loans are collateralized by commercial properties, including multi-family residential buildings. The carrying value of commercial mortgage loans is stated at original cost net of principal payments, amortization and allowance for credit losses. We diversify our commercial mortgage loans by both property type and geographic region. The following tables set forth the distribution across property type and geographic region for commercial mortgage loans as of the dates indicated:
The following tables set forth the aging of past due commercial mortgage loans by property type as of the dates indicated:
For a discussion of our policy related to placing commercial mortgage loans on non-accrual status, see Note 2—Summary of Significant Accounting Policies included in the Notes to Consolidated Financial Statements in our 2019 Annual Report on Form 10-K. non-accrual status.During the three months ended March 31, 2020 and the year ended December 31, 2019, we did not have any modifications or extensions that were considered troubled debt restructurings. The following table sets forth the allowance for credit losses related to commercial mortgage loans as of or for the periods indicated:
In evaluating the credit quality of commercial mortgage loans, we assess the performance of the underlying loans using both quantitative and qualitative criteria. Certain risks associated with commercial mortgage loans can be evaluated by reviewing both the debt-to-value and debt service coverage ratio to understand both the probability of the borrower not being able to make the necessary loan payments as well as the ability to sell the underlying property for an amount that would enable us to recover our unpaid principal balance in the event of default by the borrower. The average debt-to-value ratio is based on our most recent estimate of the fair value for the underlying property which is evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan. A lower debt-to-value indicates that our loan value is more likely to be recovered in the event of default by the borrower if the property was sold. The debt service coverage ratio is based on “normalized” annual income of the property compared to the payments required under the terms of theloan. Normalization allows for the removal of annual one-time events such as capital expenditures, prepaid or late real estate tax payments or non-recurring third-party fees (such as legal, consulting or contract fees). This ratio is evaluated at least annually and updated more frequently if necessary to better indicate risk associated with the loan. A higher debt service coverage ratio indicates the borrower is less likely to default on the loan. The debt service coverage ratio is not used without considering other factors associated with the borrower, such as the borrower’s liquidity or access to other resources that may result in our expectation that the borrower will continue to make the future scheduled payments.The following tables set forth the
debt-to-value of commercial mortgage loans by property type as of the dates indicated:
The following tables set forth the debt service coverage ratio for fixed rate commercial mortgage loans by property type as of the dates indicated:
The following tables set forth commercial mortgage loans by year of origination and credit quality indicator as of March 31, 2020:
(f) Limited Partnerships or Similar Entities Limited partnerships are accounted for at fair value when our partnership interest is considered minor (generally less than 3% ownership in the limited partnerships) and we exercise no influence over operating and financial policies. If our ownership percentage exceeds that threshold, limited partnerships are accounted for using the equity method of accounting. In applying either method, we use financial information provided by the investee generally on a one-to-three month lag. However, we consider whether an adjustment to the estimated fair value is necessary when the measurement date is not aligned with our reporting date.Investments in limited partnerships or similar entities are generally considered VIEs when the equity group lacks sufficient financial control. Generally, these investments are limited partner or
non-managing member equity investments in a widely held fund that is sponsored and managed by a reputable asset manager. We are not the primary beneficiary of any VIE investment in a limited partnership or similar entity. As of March 31, 2020 and December 31, 2019, the total carrying value of these investments was $654 million and $616 million, respectively. Our maximum exposure to loss is equal to the outstanding carrying value and future funding commitments. We have not contributed, and do not plan to contribute, any additional financial or other support outside of what is contractually obligated. |
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Derivative Instruments |
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| Derivative Instruments | (5) Derivative Instruments Our business activities routinely deal with fluctuations in interest rates, equity prices, currency exchange rates and other asset and liability prices. We use derivative instruments to mitigate or reduce some of these risks. We have established policies for managing each of these risks, including prohibitions on derivatives market-making and other speculative derivatives activities. These policies require the use of derivative instruments in concert with other techniques to reduce or mitigate these risks. While we use derivatives to mitigate or reduce risks, certain derivatives do not meet the accounting requirements to be designated as hedging instruments and are denoted as “derivatives not designated as hedges” in the following disclosures. For derivatives that meet the accounting requirements to be designated as hedges, the following disclosures for these derivatives are denoted as “derivatives designated as hedges,” which include cash flow hedges. The following table sets forth our positions in derivative instruments as of the dates indicated:
The fair value of derivative positions presented above was not offset by the respective collateral amounts received or provided under these agreements. The activity associated with derivative instruments can generally be measured by the change in notional value over the periods presented. However, for GMWB embedded derivatives, fixed index annuity embedded derivatives and indexed universal life embedded derivatives, the change between periods is best illustrated by the number of policies. The following tables represent activity associated with derivative instruments as of the dates indicated:
Cash Flow Hedges Certain derivative instruments are designated as cash flow hedges. The changes in fair value of these instruments are recorded as a component of OCI. We designate and account for the following as cash flow hedges when they have met the effectiveness requirements: (i) various types of interest rate swaps to convert floating rate investments to fixed rate investments; (ii) various types of interest rate swaps to convert floating rate liabilities into fixed rate liabilities; (iii) receive U.S. dollar fixed on foreign currency swaps to hedge the foreign currency cash flow exposure of foreign currency denominated investments; (iv) forward starting interest rate swaps to hedge against changes in interest rates associated with future fixed rate bond purchases and/or interest income; and (v) other instruments to hedge the cash flows of various forecasted transactions. The following table provides information about the
pre-tax income (loss) effects of cash flow hedges for the three months ended March 31, 2020:
The following table provides information about the
pre-tax income (loss) effects of cash flow hedges for the three months ended March 31, 2019:
The following table provides a reconciliation of current period changes, net of applicable income taxes, for these designated derivatives presented in the separate component of stockholders’ equity labeled “derivatives qualifying as hedges,” for the periods indicated:
The total of derivatives designated as cash flow hedges of $2,755 million, net of taxes, recorded in stockholders’ equity as of March 31, 2020 is expected to be reclassified to net income (loss) in the future, concurrently with and primarily offsetting changes in interest expense and interest income on floating rate instruments and interest income on future fixed rate bond purchases. Of this amount, $120 million, net of taxes, is expected to be reclassified to net income (loss) in the next 12 months. Actual amounts may vary from this amount as a result of market conditions. All forecasted transactions associated with qualifying cash flow hedges are expected to occur by 2057. During the three months ended March 31, 2020 and 2019, we reclassified $2 million and $4 million, respectively, to net income (loss) in connection with forecasted transactions that were no longer considered probable of occurring. Derivatives Not Designated As Hedges We also enter into certain non-qualifying derivative instruments such as: (i) interest rate swaps and financial futures to mitigate interest rate risk as part of managing regulatory capital positions; (ii) equity index options, equity return swaps, interest rate swaps and financial futures to mitigate the risks associated with liabilities that have guaranteed minimum benefits, fixed index annuities and indexed universal life; (iii) interest rate caps where the hedging relationship does not qualify for hedge accounting; (iv) foreign currency forward contracts to mitigate currency risk associated with non-functional currency investments held by certain foreign subsidiaries; and (v) foreign currency options and forward contracts to mitigate currency risk associated with future dividends or other cash flows from certain foreign subsidiaries to our holding company. Additionally, we provide GMWBs on certain variable annuities that are required to be bifurcated as embedded derivatives. We also offer fixed index annuity and indexed universal life insurance products and have reinsurance agreements with certain features that are required to be bifurcated as embedded derivatives.The following table provides the
pre-tax gain (loss) recognized in net income (loss) for the effects of derivatives not designated as hedges for the periods indicated:
Derivative Counterparty Credit Risk Most of our derivative arrangements with counterparties require the posting of collateral upon meeting certain net exposure thresholds. The following table presents additional information about derivative assets and liabilities subject to an enforceable master netting arrangement as of the dates indicated:
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Fair Value of Financial Instruments |
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| Fair Value of Financial Instruments | (6) Fair Value of Financial Instruments Recurring Fair Value Measurements We have fixed maturity securities, short-term investments, equity securities, limited partnerships, derivatives, embedded derivatives, securities held as collateral, separate account assets and certain other financial instruments, which are carried at fair value. Below is a description of the valuation techniques and inputs used to determine fair value by class of instrument. Fixed maturity, short-term investments and equity securities The fair value of fixed maturity securities, short-term investments and equity securities are estimated primarily based on information derived from third-party pricing services (“pricing services”), internal models and/or broker quotes, which use a market approach, income approach or a combination of the market and income approach depending on the type of instrument and availability of information. In general, a market approach is utilized if there is readily available and relevant market activity for an individual security. In certain cases where market information is not available for a specific security but is available for similar securities, a security is valued using that market information for similar securities, which is also a market approach. When market information is not available for a specific security or is available but such information is less relevant or reliable, an income approach or a combination of a market and income approach is utilized. For securities with optionality, such as call or prepayment features (including mortgage-backed or asset-backed securities), an income approach may be used. In addition, a combination of the results from market and income approaches may be used to estimate fair value. These valuation techniques may change from period to period, based on the relevance and availability of market data. Further, while we consider the valuations provided by pricing services and broker quotes to be of high quality, management determines the fair value of our investment securities after considering all relevant and available information. In general, we first obtain valuations from pricing services. If prices are unavailable from public pricing services, we obtain broker quotes. For all securities, excluding certain private fixed maturity securities, if neither a pricing service nor broker quotes valuation is available, we determine fair value using internal models. For certain private fixed maturity securities where we do not obtain valuations from pricing services, we utilize an internal model to determine fair value since transactions for identical securities are not readily observable and these securities are not typically valued by pricing services. Given our understanding of the pricing methodologies and procedures of pricing services, the securities valued by pricing services are typically classified as Level 2 unless we determine the valuation process for a security or group of securities utilizes significant unobservable inputs, which would result in the valuation being classified as Level 3. Broker quotes are typically based on an income approach given the lack of available market data. As the valuation typically includes significant unobservable inputs, we classify the securities where fair value is based on our consideration of broker quotes as Level 3 measurements. For private fixed maturity securities, we utilize an income approach where we obtain public bond spreads and utilize those in an internal model to determine fair value. Other inputs to the model include rating and weighted-average life, as well as sector which is used to assign the spread. We then add an additional premium, which represents an unobservable input, to the public bond spread to adjust for the liquidity and other features of our private placements. We utilize the estimated market yield to discount the expected cash flows of the security to determine fair value. We utilize price caps for securities where the estimated market yield results in a valuation that may exceed the amount that would be received in a market transaction. When a security does not have an external rating, we assign the security an internal rating to determine the appropriate public bond spread that should be utilized in the valuation. While we generally consider the public bond spreads by sector and maturity to be observable inputs, we evaluate the similarities of our private placement with the public bonds, any price caps utilized, liquidity premiums applied, and whether external ratings are available for our private placements to determine whether the spreads utilized would be considered observable inputs. We classify private securities without an external rating or public bond spread as Level 3. In general, a significant increase (decrease) in credit spreads would have resulted in a significant decrease (increase) in the fair value for our fixed maturity securities as of March 31, 2020. For remaining securities priced using internal models, we determine fair value using an income approach. We maximize the use of observable inputs but typically utilize significant unobservable inputs to determine fair value. Accordingly, the valuations are typically classified as Level 3. Our assessment of whether or not there were significant unobservable inputs related to fixed maturity securities was based on our observations obtained through the course of managing our investment portfolio, including interaction with other market participants, observations related to the availability and consistency of pricing and/or rating, and understanding of general market activity such as new issuance and the level of secondary market trading for a class of securities. Additionally, we considered data obtained from third-party pricing sources to determine whether our estimated values incorporate significant unobservable inputs that would result in the valuation being classified as Level 3. A summary of the inputs used for our fixed maturity securities , short-term investments and equity securities based on the level in which instruments are classified is included below. We have combined certain classes of instruments together as the nature of the inputs is similar. Level 1 measurements Equity securities. Separate account assets. Level 2 measurements Fixed maturity securities
The following table presents a summary of the significant inputs used by our third-party pricing services for certain fair value measurements of fixed maturity securities that are classified as Level 2 as of March 31, 2020:
Equity securities. Securities lending collateral The fair value of securities held as collateral is primarily based on Level 2 inputs from market information for the collateral that is held on our behalf by the custodian. We determine fair value after considering prices obtained by third-party pricing services. Short-term investments The fair value of short-term investments classified as Level 2 is determined after considering prices obtained by third-party pricing services. Level 3 measurements Fixed maturity securities
Equity securities. Net asset value Limited partnerships Limited partnerships are valued based on comparable market transactions, discounted future cash flows, quoted market prices and/or estimates using the most recent data available for the underlying instrument. We utilize the net asset value (“NAV”) f rom the underlying fund statements as a practical expedient for fair value. Derivatives We consider counterparty collateral arrangements and rights of set-off when evaluating our net credit risk exposure to our derivative counterparties. Accordingly, we are permitted to include consideration of these arrangements when determining whether any incremental adjustment should be made for both the counterparty’s and our non-performance risk in measuring fair value for our derivative instruments. As a result of these counterparty arrangements, we determined that any adjustment for credit risk would not be material and we have not recorded any incremental adjustment for our non-performance risk or the non-performance risk of the derivative counterparty for our derivative assets or liabilities.Interest rate swaps. Interest rate caps. Foreign currency swaps. Equity index options. Financial futures. Equity return swaps. Other foreign currency contracts. GMWB embedded derivatives We are required to bifurcate an embedded derivative for certain features associated with annuity products and related reinsurance agreements where we provide a GMWB to the policyholder and are required to record the GMWB embedded derivative at fair value. The valuation of our GMWB embedded derivative is based on an income approach that incorporates inputs such as forward interest rates, equity index volatility, equity index and fund correlation, and policyholder assumptions such as utilization, lapse and mortality. We determine fair value using an internal model based on the various inputs noted above. Non-performance risk is integrated into the discount rate used to value GMWB liabilities. Our discount rate used to determine fair value of our GMWB liabilities includes market credit spreads above U.S. Treasury rates to reflect an adjustment for the non-performance risk of the GMWB liabilities. As of March 31, 2020 and December 31, 2019, the impact of non-performance risk resulted in a lower fair value of our GMWB liabilities of $112 million and $62 million, respectively.We classify the GMWB valuation as Level 3 based on having significant unobservable inputs, with equity index volatility and non-performance risk being considered the more significant unobservable inputs. As equity index volatility increases, the fair value of the GMWB liabilities will increase. Any increase in non-performance risk would increase the discount rate and would decrease the fair value of the GMWB liability. Additionally, we consider lapse and utilization assumptions to be significant unobservable inputs. An increase in our lapse assumption would decrease the fair value of the GMWB liability, whereas an increase in our utilization rate would increase the fair value. As of March 31, 2020, a significant change in the unobservable inputs discussed above would have resulted in a significantly lower or higher fair value measurement.Fixed index annuity embedded derivatives We have fixed indexed annuity products where interest is credited to the policyholder’s account balance based on equity index changes. This feature is required to be bifurcated as an embedded derivative and recorded at fair value. Fair value is determined using an income approach where the present value of the excess cash flows above the guaranteed cash flows is used to determine the value attributed to the equity index feature. The inputs used in determining the fair value include policyholder behavior (lapses and withdrawals), near-term equity index volatility, expected future interest credited, forward interest rates and an adjustment to the discount rate to incorporate non-performance risk and risk margins. As a result of our assumptions for policyholder behavior and expected future interest credited being considered significant unobservable inputs, we classify these instruments as Level 3. As lapses and withdrawals increase, the value of our embedded derivative liability will decrease. As expected future interest credited decreases, the value of our embedded derivative liability will decrease. As of March 31, 2020, a significant change in the unobservable inputs discussed above would have resulted in a significantly lower or higher fair value measurement. Indexed universal life embedded derivatives We have indexed universal life insurance products where interest is credited to the policyholder’s account balance based on equity index changes. This feature is required to be bifurcated as an embedded derivative and recorded at fair value. Fair value is determined using an income approach where the present value of the excess cash flows above the guaranteed cash flows is used to determine the value attributed to the equity index feature. The inputs used in determining the fair value include policyholder behavior (lapses and withdrawals), near-term equity index volatility, expected future interest credited, forward interest rates and an adjustment to the discount rate to incorporate non-performance risk and risk margins. As a result of our assumptions for policyholder behavior and expected future interest credited being considered significant unobservable inputs, we classify these instruments as Level 3. As lapses and withdrawals increase, the value of our embedded derivative liability will decrease. As expected future interest credited decreases, the value of our embedded derivative liability will decrease. As of March 31, 2020, a significant change in the unobservable inputs discussed above would have resulted in a significantly lower or higher fair value measurement.The following tables set forth our assets by class of instrument that are measured at fair value on a recurring basis as of the dates indicated:
The following tables present additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value as of or for the dates indicated:
The following table presents the gains and losses included in net income (loss) from assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value and the related income statement line item in which these gains and losses were presented for the three months ended March 31:
The amount presented for realized and unrealized gains (losses) included in net income (loss) for fixed maturity securities primarily represents amortization and accretion of premiums and discounts on certain fixed maturity securities. The following table presents a summary of the significant unobservable inputs used for certain asset fair value measurements that are based on internal models and classified as Level 3 as of March 31, 2020:
Certain classes of instruments classified as Level 3 are excluded above as a result of not being material or due to limitations in being able to obtain the underlying inputs used by certain third-party sources, such as broker quotes, used as an input in determining fair value. The following tables set forth our liabilities by class of instrument that are measured at fair value on a recurring basis as of the dates indicated:
The following tables present additional information about liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value as of or for the dates indicated:
The following table presents the gains and losses included in net (income) loss from liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value and the related income statement line item in which these gains and losses were presented for the three months ended March 31:
Purchases, sales, issuances and settlements represent the activity that occurred during the period that results in a change of the asset or liability but does not represent changes in fair value for the instruments held at the beginning of the period. Such activity primarily consists of purchases, sales and settlements of fixed maturity and equity securities and purchases, issuances and settlements of derivative instruments. Issuances presented for GMWB embedded derivative liabilities are characterized as the change in fair value associated with the product fees recognized that are attributed to the embedded derivative to equal the expected future benefit costs upon issuance. Issuances for fixed index annuity and indexed universal life embedded derivative liabilities represent the amount of the premium received that is attributed to the value of the embedded derivative. Settlements of embedded derivatives are characterized as the change in fair value upon exercising the embedded derivative instrument, effectively representing a settlement of the embedded derivative instrument. We have shown these changes in fair value separately based on the classification of this activity as effectively issuing and settling the embedded derivative instrument with all remaining changes in the fair value of these embedded derivative instruments being shown separately in the category labeled “included in net (income) loss” in the tables presented above. The following table presents a summary of the significant unobservable inputs used for certain liability fair value measurements that are based on internal models and classified as Level 3 as of March 31, 2020:
Assets and Liabilities Not Required to Be Carried at Fair Value Assets and liabilities that are reflected in the accompanying unaudited condensed consolidated financial statements at fair value are not included in the following disclosure of fair value. Such items include cash, cash equivalents and restricted cash, short-term investments, investment securities, separate accounts, securities held as collateral and derivative instruments. Apart from certain of our borrowings and certain marketable securities, few of the instruments are actively traded and their fair values must often be determined using models. The fair value estimates are made at a specific point in time, based upon available market information and judgments about the financial instruments, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value estimates cannot be substantiated by comparison to independent markets. The following represents our estimated fair value of financial assets and liabilities that are not required to be carried at fair value as of the dates indicated:
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Liability for Policy and Contract Claims |
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| Liability for Policy and Contract Claims | (7) Liability for Policy and Contract Claims The following table sets forth changes in our liability for policy and contract claims as of the dates indicated:
The liability for policy and contract claims represents our current best estimate; however, there may be future adjustments to this estimate and related assumptions. Such adjustments, reflecting any variety of new and adverse trends, could possibly be significant, and result in increases in reserves by an amount that could be material to our results of operations and financial condition and liquidity. For the three months ended March 31, 2020, the favorable development of $105 million related to insured events of prior years was primarily attributable to our long-term care insurance business largely from favorable development on prior year incurred but not reported claims and favorable experience on pending claims that terminated before becoming an active claim. |
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| Reinsurance | (8) Reinsurance The following table sets forth the changes in the allowance for credit losses related to reinsurance recoverables as of or for the three months ended March 31, 2020:
As discussed in note 2, our policy for evaluating and measuring the allowance for credit losses related to reinsurance recoverables utilizes the reinsurer’s credit rating, updated quarterly, to assess the credit quality of reinsurance recoverables. The following table sets forth A.M. Best Company, Inc.’s (“A.M. Best”) credit ratings related to our reinsurance recoverables, gross of the allowance for credit losses, as of March 31, 2020:
We have several significant reinsurance transactions (“Reinsurance Transactions”) with Union Fidelity Life Insurance Company (“UFLIC”), an affiliate of our former parent, General Electric Company (“GE”). In the Reinsurance Transactions, we ceded to UFLIC in-force blocks of structured settlements issued prior to 2004, substantially all of our in-force blocks of variable annuities issued prior to 2004 and a block of long-term care insurance policies that we reinsured in 2000 from legal entities now a part of Brighthouse Life Insurance Company. Although we remain directly liable under these contracts and policies as the ceding insurer, the Reinsurance Transactions have the effect of transferring the financial results of the reinsured blocks to UFLIC. To secure the payment of its obligations to us under the reinsurance agreements governing the Reinsurance Transactions, UFLIC has established trust accounts to maintain an aggregate amount of assets with a statutory book value at least equal to the statutory general account reserves attributable to the reinsured business less an amount required to be held in certain claims-paying accounts. A trustee administers the trust accounts and we are permitted to withdraw from the trust accounts amounts due to us pursuant to the terms of the reinsurance agreements that are not otherwise paid by UFLIC. In addition, pursuant to a Capital Maintenance Agreement, GE is obligated to maintain sufficient capital in UFLIC to maintain UFLIC’s risk-based capital (“RBC”) at not less than 150% of its company action level, as defined by the National Association of Insurance Commissioners (“NAIC”). As of March 31, 2020 and December 31, 2019, we had a reinsurance recoverable of $13,718 million and $13,752 million, respectively, with UFLIC. In March 2019, upon UFLIC’s request, A.M. Best withdrew UFLIC’s credit rating. We had no impact from this action as UFLIC has trust accounts and a guarantee from its parent, as discussed above, and is sufficiently collateralized. Accordingly, the reinsurance recoverable with UFLIC is fully collectible and no allowance for credit losses was recorded as of March 31, 2020. Reinsurance recoverables are considered past due when contractual payments have not been received from the reinsurer by the required payment date. Claims submitted for payment are generally due in less than one year. As of March 31, 2020, we did not have any reinsurance recoverables past due, except for Scottish Re US Inc. (“Scottish Re”), a reinsurance company domiciled in Delaware. On March 6, 2019, Scottish Re was ordered into receivership for the purposes of rehabilitation by the Court of Chancery of the State of Delaware. It was contemplated that a plan of rehabilitation for Scottish Re, if feasible, would be filed and approved within 120 days of the Rehabilitation Order. The plan of rehabilitation was scheduled to be provided by March 30, 2020 but given the impact of
COVID-19, Scottish Re has requested more time and to date, the plan of rehabilitation has not been filed. As of March 31, 2020, amounts past due related to Scottish Re were $11 million, all of which was included in the allowance for credit losses. However, we expect to recover the remaining balance of claims submitted to Scottish Re through rehabilitation and will continue to monitor the plan of rehabilitation and the expected recovery of the claims balance. |
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| Borrowings | (9) Borrowings (a) Long-Term Borrowings The following table sets forth total long-term borrowings as of the dates indicated:
On January 21, 2020, Genworth Holdings early redeemed $397 million of its 7.70% senior notes originally scheduled to mature in June 2020 for a pre-tax loss of $9 million. The senior notes were fully redeemed with a cash payment of $409 million, comprised of the outstanding principal balance of $397 million, accrued interest of $3 million and a make-whole premium of $9 million.In March 2020, Genworth Holdings repurchased $14 million principal amount of its senior notes with 2021 maturity date s for a pre-tax gain of $1 million and paid accrued interest thereon. In April 2020, Genworth Holdings repurchased an additional $36 million principal amount of its senior notes with 2021 maturity dates for a pre-tax gain of $2 million.(b) Non-Recourse Funding Obligations In January 2020, upon receipt of approval from the Director of Insurance of the State of South Carolina, Rivermont Life Insurance Company I (“Rivermont I”) redeemed all of its $315 million of outstanding non-recourse funding obligations due in 2050. The early redemption resulted in a pre-tax loss of $ 4 million from the write-off of deferred borrowing costs. |
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| Income Taxes | (10) Income Taxes The reconciliation of the federal statutory tax rate to the effective income tax rate was as follows for the periods indicated:
The decrease in the effective tax rate for the three months ended March 31, 2020 was primarily attributable to tax expense on forward starting swaps settled prior to the enactment of the TCJA, which are tax effected at 35% as they are amortized into net investment income, in relation to a
pre-tax loss in the current year. The decrease was also attributable to a lower tax expense related to foreign operations and higher stock-based compensation in relation to a pre-tax loss in the current year. |
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| Segment Information | (11) Segment Information We have the following four operating business segments: U.S. Mortgage Insurance; Australia Mortgage Insurance; U.S. Life Insurance (which includes our long-term care insurance, life insurance and fixed annuities businesses); and Runoff (which includes the results of non-strategic products which have not been actively sold since 2011). In addition to our four operating business segments, we also have Corporate and Other activities which include debt financing expenses that are incurred at the Genworth Holdings level, unallocated corporate income and expenses, eliminations of inter-segment transactions and the results of other businesses that are managed outside of our operating segments, including certain smaller international mortgage insurance businesses and discontinued operations.We tax our international businesses at their local jurisdictional tax rates and our domestic businesses at the U.S. corporate federal income tax rate of 21%. Our segment tax methodology applies the respective jurisdictional or domestic tax rate to the pre-tax income (loss) of each segment, which is then adjusted in each segment to reflect the tax attributes of items unique to that segment such as foreign withholding taxes and permanent differences between U.S. GAAP and local tax law. The difference between the consolidated provision for income taxes and the sum of the provision for income taxes in each segment is reflected in Corporate and Other activities. The annually-determined tax rates and adjustments to each segment’s provision for income taxes are estimates which are subject to review and could change from year to year. We use the same accounting policies and procedures to measure segment income (loss) and assets as our consolidated net income and assets. Our chief operating decision maker evaluates segment performance and allocates resources on the basis of “adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders.” We define adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders as income (loss) from continuing operations excluding the after-tax effects of income (loss) from continuing operations attributable to noncontrolling interests, net investment gains (losses), goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions, restructuring costs and infrequent or unusual non-operating items. Gains (losses) on insurance block transactions are defined as gains (losses) on the early extinguishment of non-recourse funding obligations, early termination fees for other financing restructuring and/or resulting gains (losses) on reinsurance restructuring for certain blocks of business. We exclude net investment gains (losses) and infrequent or unusual non-operating items because we do not consider them to be related to the operating performance of our segments and Corporate and Other activities. A component of our net investment gains (losses) is the result ofestimated future credit losses , the size and timing of which can vary significantly depending on market credit cycles. In addition, the size and timing of other investment gains (losses) can be subject to our discretion and are influenced by market opportunities, as well as asset-liability matching considerations. Goodwill impairments, gains (losses) on the sale of businesses, gains (losses) on the early extinguishment of debt, gains (losses) on insurance block transactions and restructuring costs are also excluded from adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders because, in our opinion, they are not indicative of overall operating trends. Infrequent or unusual non-operating items are also excluded from adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders if, in our opinion, they are not indicative of overall operating trends. While some of these items may be significant components of net income (loss) available to Genworth Financial, Inc.’s common stockholders in accordance with U.S. GAAP, we believe that adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders, and measures that are derived from or incorporate adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders, are appropriate measures that are useful to investors because they identify the income (loss) attributable to the ongoing operations of the business. Management also uses adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders as a basis for determining awards and compensation for senior management and to evaluate performance on a basis comparable to that used by analysts. However, the items excluded from adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders have occurred in the past and could, and in some cases will, recur in the future. Adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders is not a substitute for net income (loss) available to Genworth Financial, Inc.’s common stockholders determined in accordance with U.S. GAAP. In addition, our definition of adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders may differ from the definitions used by other companies. Adjustments to reconcile net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income assume a 21% tax rate for our domestic segments and a 30% tax rate for our Australia Mortgage Insurance segment and are net of the portion attributable to noncontrolling interests. Net investment gains (losses) are also adjusted for DAC and other intangible amortization and certain benefit reserves. In January 2020, we paid a pre-tax make-whole expense of $9 million related to the early redemption of Genworth Holdings’ senior notes originally scheduled to mature in June 2020 and Rivermont I, our indirect wholly-ownedspecial purpose consolidated captive insurance 315sub , early redeemed all of its $sidiary million outstanding non-recourse funding obligations originally due in 2050resultin a g inpre-tax loss of $ 4 million from the write-off of deferred borrowing costs. We also repurchased $ 14 million principal amount of Genworth Holdings’ senior notes 2021with maturity dates for a pre-tax gain of $ 1 million in the first quarter of 2020. These transactions were excluded from adjusted operating income as they relate to gains (losses) on the early extinguishment of debt. We recorded a pre-tax expense of $1 million and $4 million in the first quarters of 2020 and 2019, respectively, related to restructuring costs as we continue to evaluate and appropriately size our organizational needs and expenses. There were no infrequent or unusual items excluded from adjusted operating income during the periods presented.The following is a summary of revenues for our segments and Corporate and Other activities for the periods indicated:
The following tables present the reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income available to Genworth Financial, Inc.’s common stockholders and a summary of adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders for our segments and Corporate and Other activities for the periods indicated:
The following is a summary of total assets for our segments and Corporate and Other activities as of the dates indicated:
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Commitments and Contingencies |
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| Commitments and Contingencies | (12) Commitments and Contingencies (a) Litigation and Regulatory Matters We face the risk of litigation and regulatory investigations and actions in the ordinary course of operating our businesses, including the risk of class action lawsuits. Our pending legal and regulatory actions include proceedings specific to us and others generally applicable to business practices in the industries in which we operate. In our insurance operations, we are, have been, or may become subject to class actions and individual suits alleging, among other things, issues relating to sales or underwriting practices, increases to in-force long-term care insurance premiums, payment of contingent or other sales commissions, claims payments and procedures, product design, product disclosure, product administration, additional premium charges for premiums paid on a periodic basis, denial or delay of benefits, charging excessive or impermissible fees on products, recommending unsuitable products to customers, our pricing structures and business practices in our mortgage insurance businesses, such as captive reinsurance arrangements with lenders and contract underwriting services, violations of the Real Estate Settlement and Procedures Act of 1974 or related state anti-inducement laws, and mortgage insurance policy rescissions and curtailments, and breaching fiduciary or other duties tocustomers, including but not limited to breach of customer information. Plaintiffs in class action and other lawsuits against us may seek very large or indeterminate amounts which may remain unknown for substantial periods of time. In our investment-related operations, we are subject to litigation involving commercial disputes with counterparties. We are also subject to litigation arising out of our general business activities such as our contractual and employment relationships, post-closing obligations associated with previous dispositions and securities lawsuits. In addition, we are also subject to various regulatory inquiries, such as information requests, subpoenas, books and record examinations and market conduct and financial examinations from state, federal and international regulators and other authorities. A substantial legal liability or a significant regulatory action against us could have an adverse effect on our business, financial condition and results of operations. Moreover, even if we ultimately prevail in the litigation, regulatory action or investigation, we could suffer significant reputational harm, which could have an adverse effect on our business, financial condition or results of operations. In January 2016, Genworth Financial, its current chief executive officer, its former chief executive officer, its former chief financial officer and current and former members of its board of directors were named in a shareholder derivative suit filed by International Union of Operating Engineers Local No. 478 Pension Fund, Richard L. Salberg and David Pinkoski in the Court of Chancery of the State of Delaware. The case was captioned Int’l Union of Operating Engineers Local No. 478 Pension Fund, et al v. McInerney, et al. Cohen v. McInerney, et al Genworth Financial, Inc. Consolidated Derivative Litigation In October 2016, Genworth Financial, its current chief executive officer, its former chief executive officer, its current chief financial officer, its former chief financial officer and current and former members of its board of directors were named in a shareholder derivative suit filed by Esther Chopp in the Court of Chancery of the State of Delaware. The case is captioned Chopp v. McInerney, et al. In December 2017, Genworth Financial International Holdings, LLC (“GFIH”) and Genworth Financial were named as defendants in an action captioned AXA S.A. v. Genworth Financial International Holdings, LLC et al., mis-selling losses. The Court further ruled, among other matters, that Genworth is not entitled to be subrogated to the rights of FICL/FACL against Santander or require AXA to assert reasonable defenses with respect to PPI mis-selling claims. In January 2020, we made an interim payment to AXA for approximately $134 million, which was previously accrued in December 2019 in connection with the aforementioned Court ruling. See note 14 for additional details related to the sale of our lifestyle protection insurance business and amounts recorded related to income (loss) from discontinued operations. On January 10, 2020, Genworth applied to the English Court of Appeal (Civil Division) for permission to appeal certain aspects of the December 6, 2019 judgment including, among other matters, the Court’s determination that Genworth is not entitled to be subrogated to the rights of FICL/FACL against Santander or require AXA to assert reasonable defenses with respect to PPI mis-selling claims. On March 16, 2020, the English Court of Appeal (Civil Division) denied permission for Genworth to appeal certain aspects of the December 6, 2019 judgment . The damages hearing has been postponed and is now scheduled to commence on June 15, 2020. Although AXA’s current amended and updated demand is for £ 265million, AXA also alleges, as previously disclosed, that it is incurring losses on an ongoing basis and therefore that further significantly larger sums will be demanded. To date, AXA has submitted to us invoices claiming aggregate losses of approximately £489 million, of which £100 million was paid in January 2020. In the event AXA amends its claim to demand any such amounts or different amounts, the actual losses to which AXA may be entitled will need to be demonstrated as part of the damages hearing, and any claimed amounts may increase further, including as a result of claimed entitlements to a tax gross up for a total possible additional loss of £ million or more. At this time, we are uncertain of the ultimate outcome of the damages hearing, therefore, we are unable to estimate any additional loss, or amounts that may be due or demanded under Court ruling. We intend to continue to vigorously defend this action. In September 2018, Genworth Life and Annuity Insurance C ompany (“GLAIC”), our indirect wholly-owned subsidiary, was named as a defendant in a putative class action lawsuit pending in the United States District Court for the Eastern District of Virginia captioned TVPX ARX INC., as Securities Intermediary for Consolidated Wealth Management, LTD. on behalf of itself and all others similarly situated v. Genworth Life and Annuity Insurance Company re imposed on policyholders. The complaint asserts claims for breach of contract, alleging that Genworth improperly considered non-mortality factors when calculating cost of insurance rates and failed to decrease cost of insurance charges in light of improved expectations of future mortality, and seeks unspecified compensatory damages, costs, and equitable relief. On October 29, 2018, we filed a motion to enjoin the case in the Middle District of Georgia, and a motion to dismiss and motion to stay in the Eastern District of Virginia. We moved to enjoin the prosecution of the Eastern District of Virginia action on the basis that it involves claims released in a prior nationwide class action settlement that was approved by the Middle District of Georgia. Plaintiff filed an amended complaint on November 13, 2018. On December 6, 2018, we moved the Middle District of Georgia for leave to file our counterclaim, which alleges that plaintiff breached the covenant not to sue contained in the prior settlement agreement by filing its current action. On March 15, 2019, the Middle District of Georgia granted our motion to enjoin and denied our motion for leave to file our counterclaim. As such, plaintiff is enjoined from pursuing its class action in the Eastern District of Virginia. On March 29, 2019, plaintiff filed a notice of appeal in the Middle District of Georgia, notifying the Court of its appeal to the United States Court of Appeals for the Eleventh Circuit from the order granting our motion to enjoin. On March 29, 2019, we filed our notice of cross-appeal in the Middle District of Georgia, notifying the Court of our cross-appeal to the Eleventh Circuit from the portion of the order denying our motion for leave to file our counterclaim. On April 8, 2019, the Eastern District of Virginia dismissed the case without prejudice, with leave for plaintiff to refile an amended complaint only if a final appellate Court decision vacates the injunction and reverses the Middle District of Georgia’s opinion. On May 21, 2019, plaintiff filed its appeal and memorandum in support in the Eleventh Circuit. We filed our response to plaintiff’s appeal memorandum on July 3, 2019. The Eleventh Circuit Court of Appeals heard oral argument on plaintiff’s appeal and our cross-appeal on April 21, 2020. We intend to continue to vigorously defend the dismissal of this action.In September 2018, Genworth Financial, Genworth Holdings, Genworth North America Corporation, GFIH and Genworth Life Insurance Company (“GLIC”) were named as defendants in a putative class action lawsuit pending in the Court of Chancery of the State of Delaware captioned Richard F. Burkhart, William E. Kelly, Richard S. Lavery, Thomas R. Pratt, Gerald Green, individually and on behalf of all other persons similarly situated v. Genworth et al In January 2019, Genworth Financial and GLIC were named as defendants in a putative class action lawsuit pending in the United States District Court for the Eastern District of Virginia captioned Jerome Skochin, Susan Skochin, and Larry Huber, individually and on behalf of all other persons similarly situated v. Genworth Financial, Inc. and Genworth Life Insurance Company $ 5million. On March 12, 2019, we moved to dismiss plaintiffs’ complaint. On March 26, 2019, plaintiffs filed a memorandum in opposition to our motion to dismiss, which we replied to on April 1, 2019. In July 2019, the Court heard oral arguments on our motion to dismiss. On August 29, 2019, the Court issued an order granting our motion to dismiss the claim with regard to breach of contract, but denied our motion with regard to fraudulent omission, fraudulent inducement and violation of the Pennsylvania Unfair Trade Practices and Consumer Protection law. On September 20, 2019, plaintiffs filed an amended complaint, dropping Genworth Financial as a defendant and reducing their causes of action from four counts to two: fraudulent inducement by omission and violation of Pennsylvania’s Unfair Trade Practices and Consumer Protection Law (on behalf of the two named plaintiffs who are Pennsylvania residents). The parties engaged in a mediation process and, on October 22, 2019, reached an agreement in principle to settle this matter on a nationwide basis. On November 22, 2019, plaintiffs filed an amended complaint, adding Genworth Life Insurance Company of New York (“GLICNY”) as a defendant and expanding the class to all fifty states and the District of Columbia. On January 15, 2020, the Court preliminarily approved the settlement and set the final approval hearing for July 10, 2020. On March 26, 2020, the parties filed a Joint Motion for Leave to Amend certain aspects of the settlement, which was approved by the Court on March 31, 2020. On April 10, 2020, the Indiana Department of Insurance filed a Motion to Intervene and Motion to Stay, seeking to stay the current schedule for class settlement and delay the date of the final approval hearing in light of disruptions caused by COVID-19. On April 14, 2020, the class administrator sent out class notices to potential settlement class members. On April 17, 2020, plaintiffs filed their opposition to the Indiana Department of Insurance’s motion to stay. Based on the Court’s preliminary approval of the settlement, we do not anticipate the outcome of this matter to have a material adverse impact on our results of operations or financial position. If the court does not approve the final settlement, we intend to continue to vigorously defend this action. On April 6, 2020, GLAIC, our indirect wholly-owned subsidiary, was named as a defendant in a putative class action lawsuit filed in the United States District Court for the Eastern District of Virginia, captioned Brighton Trustees, LLC, on behalf of and as trustee for Diamond LS Trust; and Bank of Utah, solely as securities intermediary for Diamond LS Trust; on behalf of themselves and all others similarly situated v. Genworth Life and Annuity Insurance Company. Plaintiff seeks to represent life insurance policyholders, alleging that GLAIC subjected policyholders to an unlawful and excessive cost of insurance increase. Plaintiff also alleges that the cost of insurance increase was not applied uniformly to policyholders, and that GLAIC improperly refused to provide reports on illustrative future death benefits and policy values to policyholders. The Complaint asserts claims for breach of contract and injunctive relief, and seeks damages in excess of $5 million, restitution, reinstatement of lapsed and/or surrendered policies, and equitable relief. We intend to vigorously defend this action.At this time we cannot determine or predict the ultimate outcome of any of the pending legal and regulatory matters specifically identified above or the likelihood of potential future legal and regulatory matters against us. Except as disclosed above, we are not able to provide an estimate or range of reasonably possible losses related to these matters. Therefore, we cannot ensure that the current investigations and proceedings will not have a material adverse effect on our business, financial condition or results of operations. In addition, it is possible that related investigations and proceedings may be commenced in the future, and we could become subject to (b) Commitments As of March 31, 2020, we were committed to fund $1,018 million in limited partnership investments, $113 million in U.S. commercial mortgage loan investments and $9 million in private placement investments. As of March 31, 2020, we were also committed to fund $29 million of bank loan investments which had not yet been drawn. |
Changes in Accumulated Other Comprehensive Income (Loss) |
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| Changes In Accumulated Other Comprehensive Income (Loss) | The following tables show the changes in accumulated other comprehensive income (loss), net of taxes, by component as of and for the periods indicated:
The foreign currency translation and other adjustments balance in the charts above included $(2) million, net of taxes of $1 million, related to a net unrecognized postretirement benefit obligation as of March 31, 2019. The balance also included taxes of $23 million and $(45) million, respectively, related to foreign currency translation adjustments as of March 31, 2020 and 2019. The following table shows reclassifications in (out) of accumulated other comprehensive income (loss), net of taxes, for the periods presented:
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Discontinued Operations |
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| Discontinued Operations | (14) Discontinued Operations Canada mortgage insurance business On December 12, 2019, we completed the sale of Genworth Canada, our former Canada mortgage insurance business and received approximately $1.7 billion in net cash proceeds. Prior to its sale, in the third quarter of 2019, Genworth Canada was reported as discontinued operations; accordingly, its results of operations were separately reported for the three months ended March 31, 2019. A summary of operating results related to Genworth Canada reported as discontinued operations were as follows for the three months ended March 31, 2019:
Lifestyle protection insurance On December 1, 2015, we completed the sale of our lifestyle protection insurance business. In January 2020, we made an interim payment to AXA for approximately $134 million, which was accrued as a contingent liability as of December 31, 2019. This amount was included in income (loss) from discontinued operations for the year ended December 31, 2019. See note 12 for additional details related to asserted claims regarding the sale of our lifestyle protection insurance business. We retained liabilities for certain claims, taxes and sales practices that occurred while we owned the lifestyle protection insurance business. We have established our current best estimates for these liabilities where we are able to estimate; however, there may be future adjustments to these estimates, including additional contingent liabilities, which are not currently recorded. If the amounts are recorded, it would result in the establishment of a liability and a loss recognized in income (loss) from discontinued operations. |
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Accounting Changes (Policies) |
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| Accounting Pronouncements Recently Adopted | Accounting Pronouncements Recently Adopted On January 1, 2020, we adopted new accounting guidance related to disclosure requirements for defined benefit plans as part of the Financial Accounting Standards Board’s (the “FASB”) disclosure framework project. The guidance adds, eliminates and modifies certain disclosure requirements for defined benefit pension and other postretirement benefit plans. We adopted this new accounting guidance using the retrospective method, which did not have a significant impact on our condensed consolidated financial statements and disclosures. On January 1, 2020, we adopted new accounting guidance related to fair value disclosure requirements as part of the FASB’s disclosure framework project. The guidance adds, eliminates and modifies certain disclosure requirements for fair value measurements. The guidance includes new disclosure requirements related to changes in unrealized gains and losses included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted-average of significant unobservable inputs used to develop Level 3 fair value measurements. We adopted this new accounting guidance using the prospective method for disclosures related to changes in unrealized gains and losses included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period, the range and weighted-average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty and the retrospective method for all other disclosures. This accounting guidance did not impact our condensed consolidated financial statements but impacted our fair value disclosures. In March 2020, the FASB issued new accounting guidance related to reference rate reform, which was effective for us on January 1, 2020. The guidance provides optional guidance to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform, which includes the transition away from the London Interbank Offered Rate (“LIBOR”). This new guidance provides practical expedients for contracts affected by reference rate reform that impact the assessment of derivative hedge effectiveness and contract modifications, to include continuing hedge accounting when certain critical terms of a hedging relationship change and modifying certain effectiveness assessments to exclude certain potential sources of ineffectiveness, and is effective through December 31, 2022. We adopted this guidance prospectively and it did not have a significant impact on our condensed consolidated financial statements or disclosures but may impact our process for assessing the effectiveness of our cash flow hedging relationships, determined on an individual hedge basis, as we implement measures to transition away from LIBOR. On January 1, 2020, we adopted new accounting guidance related to accounting for credit losses on financial instruments. The guidance requires entities to recognize an allowance equal to its estimate of lifetime expected credit losses and applies to most financial instruments not measured at fair value, which primarily includes our commercial mortgage loans, bank loan investments and reinsurance recoverables. The new guidance also requires the recognition of an allowance for expected credit losses as a liability in our consolidated balance sheet for off-balance credit exposures, including commitments to fund bank loan investments, private placement investments and commercial mortgage loans. The new guidance did not have a significant impact on other assets not measured at fair value. The FASB also issued an amendment to the guidance allowing entities to irrevocably elect the fair value option on an instrument-by-instrument basis for eligible instruments, which we did not elect. For our commercial mortgage loans, we determine the adequacy of the allowance for credit losses utilizing an analytical model that provides various loss scenarios based on historical experience adjusted for current events, trends, economic conditions and reasonable and supportable forecasts that result in a loss in the loan portfolio over the estimated life of the loans. We revert to historical credit loss experience for periods beyond forecasts that are reasonable and supportable. The allowance for credit losses is measured on a collective basis with consideration for debt service coverage ratio, debt-to-value, property-type and geographic location. Key inputs into the analytical model include exposure, weighted-average life, return, historical loss rates and forecast scenarios. Actual amounts realized over time could differ from the amounts estimated for the allowance for credit losses reported in the condensed consolidated financial statements. Commercial mortgage loans are written off against the allowance to the extent principal or interest is deemed uncollectible. Accrued interest related to commercial mortgage loans is included in accrued investment income in our condensed consolidated balance sheet and had a carrying value of $24 million as of March 31, 2020. We do not measure an allowance for credit losses related to accrued interest as uncollectible accrued interest related to our commercial mortgage loans are written off after 90 days and once collectability is determined to be uncertain and not probable. Amounts written off related to accrued interest are recorded as a credit loss expense included in net investment gains (losses). We adopted the guidance related to our investments carried at amortized cost using the modified retrospective method and recorded an allowance related to lifetime expected credit losses of $23 million, net of deferred taxes of $6 million, for commercial mortgage loans and bank loan investments, with an offset to cumulative effect of change in accounting within retained earnings. See note 4 for additional disclosures related to commercial mortgage loans. We adopted the guidance related to our of $1 million, included in other liabilities in our condensed consolidated balance sheet, with an offset to cumulative effect of change in accounting within retained earnings.off-balance sheet credit exposures using the modified retrospective method and recorded an allowance related to lifetime expected credit losses The allowance for credit losses for reinsurance recoverables is evaluated based on historical loss experience adjusted for current events and reasonable and supportable forecasts from both internal and external sources. The allowance is measured by reinsurer, taking into consideration the reinsured product type and collateral type, and is calculated based on an externally reported probability of default corresponding to the reinsurer’s credit rating and the expected duration of the reinsurer’s contractual obligation to reimburse us for ceded claims on the underlying policies. Our estimate of the allowance reflects consideration for collateral securing the reinsurance agreements and expected recoveries of amounts previously charged off and expected to be charged off. We also consider other credit risk factors, including, among other factors, the historical frequency and severity of the associated insurance claims, aging of recoverables and regulatory, legal and economic factors, to determine if an additional incremental allowance for credit losses is required. No reversion adjustments are necessary as the starting point for our allowance for credit losses reflects historical loss experience covering the expected duration of the reinsurer’s contractual obligation to reimburse us. If available facts and circumstances indicate the reinsurance recoverable does not reflect expectations consistent with the collective analysis, the reinsurance recoverable is assessed on a separate basis. Write-offs of reinsurance recoverables are deducted from the allowance in the period the reinsurance recoverable is determined to be uncollectible. We adopted the guidance related to our reinsurance recoverables using the modified retrospective method and recorded an allowance related to lifetime expected credit losses of $ 31 million, net of deferred taxes of $ 9million, with an offset to cumulative effect of change in accounting within retained earnings. See note 8 for additional disclosures related to reinsurance recoverables. The new guidance retains most of the existing impairment guidance for available-for-sale fixed maturity securities but amends the presentation of credit losses to reflect an allowance for credit losses as opposed to a write-down of the amortized cost of the investment and permits the reversal of credit losses through net income (loss) when reassessing changes in credit losses each reporting period. Available-for-sale fixed maturity securities in an unrealized loss position are evaluated to determine whether the decline in fair value is related to credit losses or other factors. In making this assessment, we consider the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency/agencies and adverse conditions specifically related to the security, among other factors. If a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, an allowance for credit losses is recorded, limited by the amount that the fair value is less than the amortized cost basis. Estimating the cash flows expected to be collected is a quantitative and qualitative process that incorporates information received from third-party sources along with internal assumptions and judgments. When developing the estimate of cash flows expected to be collected, we utilize an analytical model that provides for various loss scenarios and consider the industry sector, current levels of subordination, geographic location and other relevant characteristics of the security or underlying assets, as well as reasonable and supportable forecasts. Losses are written off against the allowance when deemed uncollectible or when we intend to sell or expect we will be required to sell a security prior to recovering our amortized cost. We exclude accrued interest related to available-for-sale fixed maturity securities from the estimate of allowance for credit losses. Accrued interest is included in accrued investment income in our condensed consolidated balance sheet and had a carrying value of $555 million as of March 31, 2020. We do not measure an allowance for credit losses related to accrued interest as uncollectible accrued interest related to our available-for- sale fixed maturity securities are written off after 90 days and once collectability is determined to be uncertain and not probable. Amounts written off related to accrued interest are recorded as a credit loss expense included in net investment gains (losses). We adopted the guidance related to our available-for-sale fixed maturity securities for which a previous other-than-temporary impairment was recognized prior to the date of adoption using the prospective method and the modified retrospective method for all other available-for-sale fixed maturity securities, which did not have any impact upon adoption. |
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| Accounting Pronouncements Not Yet Adopted | Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued new accounting guidance related to simplifying the accounting for income taxes. The guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance is currently effective for us on January 1, 2021 using the retrospective method or modified retrospective method for certain changes and prospective method for all other changes, with early adoption permitted. We are in process of evaluating the impact the guidance may have on our consolidated financial statements and disclosures. In August 2018, the FASB issued new accounting guidance that significantly changes the recognition and measurement of long-duration insurance contracts and expands disclosure requirements, which impacts our life insurance deferred acquisition costs (“DAC”) and liabilities. In accordance with the guidance, the more significant changes include:
This guidance is effective for us on January 1, 2022 using the modified retrospective method, with early adoption permitted. Given the nature and extent of the changes to our operations, this guidance is expected to have a significant impact on our condensed consolidated financial statements. |
Earnings (Loss) Per Share (Tables) |
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| Earnings (Loss) Per Share | Basic and diluted earnings (loss) per share are calculated by dividing each income (loss) category presented below by the weighted-average basic and diluted common shares outstanding for the periods indicated:
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| Net Investment Income | Sources of net investment income were as follows for the periods indicated:
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| Net Investment Gains (Losses) | The following table sets forth net investment gains (losses) for the periods indicated:
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| Credit Losses Recognized in Net Income (Loss) | The following represents the activity for credit losses recognized in net income on debt securities where an other-than-temporary impairment was identified and a portion of other-than-temporary impairments was included in other comprehensive income (“OCI”) as of and for the three months ended March 31, 2019:
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| Unrealized Investment Gains and Losses | Net unrealized gains and losses on
available-for-sale investment securities reflected as a separate component of accumulated other comprehensive income (loss) were as follows as of the dates indicated:
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| Change in Net Unrealized Gains (Losses) on Available-for-Sale Investment Securities Reported in Accumulated Other Comprehensive Income (Loss) | The change in net unrealized gains (losses) on
available-for-sale investment securities reported in accumulated other comprehensive income (loss) was as follows as of and for the three months ended March 31:
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| Fixed Maturity Securities | As of March 31, 2020, the amortized cost or cost, gross unrealized gains (losses), allowance for credit losses and fair value of our fixed maturity securities classified as
available-for-sale were as follows:
As of December 31, 2019, the amortized cost or cost, gross unrealized gains (losses) and fair value of our fixed maturity securities classified as
available-for-sale were as follows:
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| Gross Unrealized Losses and Fair Values of Securities in a Continuous Unrealized Loss Position | The following table presents the gross unrealized losses and fair values of our fixed maturity securities, aggregated by investment type and length of time that individual fixed maturity securities have been in a continuous unrealized loss position, as of March 31, 2020:
The following table presents the gross unrealized losses and fair values of our corporate securities, aggregated by investment type and length of time that individual investment securities have been in a continuous unrealized loss position, based on industry, as of March 31, 2020:
The following table presents the gross unrealized losses and fair values of our fixed maturity securities, aggregated by investment type and length of time that individual fixed maturity securities have been in a continuous unrealized loss position, as of December 31, 2019:
The following table presents the gross unrealized losses and fair values of our corporate securities, aggregated by investment type and length of time that individual investment securities have been in a continuous unrealized loss position, based on industry, as of December 31, 2019:
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| Maturity Distribution of Fixed Maturity Securities | Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties.
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| Aging of Past Due Commercial Mortgage Loans by Property Type | The following tables set forth the aging of past due commercial mortgage loans by property type as of the dates indicated:
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| Allowance for Credit Losses and Recorded Investment in Commercial Mortgage Loans | The following table sets forth the allowance for credit losses related to commercial mortgage loans as of or for the periods indicated:
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| Commercial Mortgage Loans By Year of Origination and Credit Quality Indicator (Detail) | The following tables set forth commercial mortgage loans by year of origination and credit quality indicator as of March 31, 2020:
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| Loan To Value Ratio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial Mortgage Loans by Property Type | The following tables set forth the
debt-to-value of commercial mortgage loans by property type as of the dates indicated:
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| Debt Service Coverage Ratio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial Mortgage Loans by Property Type | The following tables set forth the debt service coverage ratio for fixed rate commercial mortgage loans by property type as of the dates indicated:
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| Other Geographic Area | Commercial Mortgage Loan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Distribution Across Property Type and Geographic Region for Commercial Mortgage Loans | We diversify our commercial mortgage loans by both property type and geographic region. The following tables set forth the distribution across property type and geographic region for commercial mortgage loans as of the dates indicated:
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Derivative Instruments (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Positions in Derivative Instruments | The following table sets forth our positions in derivative instruments as of the dates indicated:
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| Schedule of Notional Amounts Outstanding on Derivative Instruments | The following tables represent activity associated with derivative instruments as of the dates indicated:
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| Schedule of Pre-Tax Income (Loss) Effects of Cash Flow Hedges | The following table provides information about the
pre-tax income (loss) effects of cash flow hedges for the three months ended March 31, 2020:
The following table provides information about the
pre-tax income (loss) effects of cash flow hedges for the three months ended March 31, 2019:
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| Reconciliation of Current Period Changes, Net of Applicable Income Taxes, for Derivatives Qualifying as Hedge | The following table provides a reconciliation of current period changes, net of applicable income taxes, for these designated derivatives presented in the separate component of stockholders’ equity labeled “derivatives qualifying as hedges,” for the periods indicated:
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| Schedule of Pre-Tax Gain (Loss) Recognized in Net Income (loss) for Effects of Derivatives Not Designated as Hedges | The following table provides the
pre-tax gain (loss) recognized in net income (loss) for the effects of derivatives not designated as hedges for the periods indicated:
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| Derivative Assets and Liabilities Subject to Master Netting Arrangement | The following table presents additional information about derivative assets and liabilities subject to an enforceable master netting arrangement as of the dates indicated:
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Fair Value of Financial Instruments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Summary of Significant Inputs Used by Third-Party Pricing Services for Certain Fair Value Measurements of Fixed Maturity Securities that Classified as Level 2 | The following table presents a summary of the significant inputs used by our third-party pricing services for certain fair value measurements of fixed maturity securities that are classified as Level 2 as of March 31, 2020:
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| Assets by Class of Instrument that are Measured at Fair Value on Recurring Basis | The following tables set forth our assets by class of instrument that are measured at fair value on a recurring basis as of the dates indicated:
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| Assets Measured at Fair Value on Recurring Basis and Utilized Significant Unobservable (Level 3) Inputs to Determine Fair Value | The following tables present additional information about assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value as of or for the dates indicated:
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| Gains and Losses Included in Net Income (Loss) from Assets Measured at Fair Value | The following table presents the gains and losses included in net income (loss) from assets measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value and the related income statement line item in which these gains and losses were presented for the three months ended March 31:
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| Summary of Significant Unobservable Inputs Used for Certain Asset Fair Value Measurements | The following table presents a summary of the significant unobservable inputs used for certain asset fair value measurements that are based on internal models and classified as Level 3 as of March 31, 2020:
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| Liabilities by Class of Instrument that are Measured at Fair Value on Recurring Basis | The following tables set forth our liabilities by class of instrument that are measured at fair value on a recurring basis as of the dates indicated:
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| Liabilities Measured at Fair Value on Recurring Basis and Utilized Significant Unobservable (Level 3) Inputs to Determine Fair Value | The following tables present additional information about liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value as of or for the dates indicated:
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| Gains and Losses Included in Net (Income) from Liabilities Measured at Fair Value | The following table presents the gains and losses included in net (income) loss from liabilities measured at fair value on a recurring basis and for which we have utilized significant unobservable (Level 3) inputs to determine fair value and the related income statement line item in which these gains and losses were presented for the three months ended March 31:
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| Summary of Significant Unobservable Inputs Used for Certain Liability Fair Value Measurements | The following table presents a summary of the significant unobservable inputs used for certain liability fair value measurements that are based on internal models and classified as Level 3 as of March 31, 2020:
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| Fair Value Financial Instruments Not Required to be Carried at Fair Value | The following represents our estimated fair value of financial assets and liabilities that are not required to be carried at fair value as of the dates indicated:
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Liability for Policy and Contract Claims (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Liability for Policy and Contract Claims | The following table sets forth changes in our liability for policy and contract claims as of the dates indicated:
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Reinsurance (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reinsurance Recoverable in Allowance for Credit Losses | The following table sets forth the changes in the allowance for credit losses related to reinsurance recoverables as of or for the three months ended March 31, 2020:
|
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| Schedule Of Credit Ratings on Reinsurance Recoverable | As discussed in note 2, our policy for evaluating and measuring the allowance for credit losses related to reinsurance recoverables utilizes the reinsurer’s credit rating, updated quarterly, to assess the credit quality of reinsurance recoverables. The following table sets forth A.M. Best Company, Inc.’s (“A.M. Best”) credit ratings related to our reinsurance recoverables, gross of the allowance for credit losses, as of March 31, 2020:
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Borrowings (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Long Term Borrowings | The following table sets forth total long-term borrowings as of the dates indicated:
|
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Income Taxes (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Federal Statutory Tax Rate to Effective Income Tax Rate | The reconciliation of the federal statutory tax rate to the effective income tax rate was as follows for the periods indicated:
|
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Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Revenues of Major Product Groups for Segments and Corporate and Other Activities | The following is a summary of revenues for our segments and Corporate and Other activities for the periods indicated:
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| Summary of Net Operating Income (Loss) for Segments and Corporate and Other Activities | The following tables present the reconciliation of net income (loss) available to Genworth Financial, Inc.’s common stockholders to adjusted operating income available to Genworth Financial, Inc.’s common stockholders and a summary of adjusted operating income (loss) available to Genworth Financial, Inc.’s common stockholders for our segments and Corporate and Other activities for the periods indicated:
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| Summary of Segments and Corporate and Other Activities | The following is a summary of total assets for our segments and Corporate and Other activities as of the dates indicated:
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Changes in Accumulated Other Comprehensive Income (Loss) (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Component of Changes in Accumulated Other Comprehensive Income (Loss), Net of Taxes | The following tables show the changes in accumulated other comprehensive income (loss), net of taxes, by component as of and for the periods indicated:
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| Reclassifications in (out) of Accumulated Other Comprehensive Income (Loss), Net of Taxes | The foreign currency translation and other adjustments balance in the charts above included $(2) million, net of taxes of $1 million, related to a net unrecognized postretirement benefit obligation as of March 31, 2019. The balance also included taxes of $23 million and $(45) million, respectively, related to foreign currency translation adjustments as of March 31, 2020 and 2019. The following table shows reclassifications in (out) of accumulated other comprehensive income (loss), net of taxes, for the periods presented:
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Discontinued Operations (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets and liabilities held for sale and operating results related to discontinued operations | A summary of operating results related to Genworth Canada reported as discontinued operations were as follows for the three months ended March 31, 2019:
|
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Formation of Genworth and Basis of Presentation - Additional Information (Detail) $ / shares in Units, $ in Billions |
3 Months Ended | |||
|---|---|---|---|---|
|
Oct. 21, 2016
USD ($)
$ / shares
|
Mar. 31, 2020
Segment
|
Dec. 12, 2019
USD ($)
|
Apr. 01, 2013 |
|
| Number of operating segments | Segment | 4 | |||
| Genworth Canada MI | ||||
| Net cash proceeds for sale of mortgage business | $ 1.7 | |||
| Genworth Holdings | ||||
| Percentage of subsidiary equity ownership | 100.00% | |||
| China Oceanwide Holdings Group Co., Ltd. | Definitive Acquisition Agreement | ||||
| Total transaction value to acquire all of our outstanding common stock | $ 2.7 | |||
| Per share amount to acquire all of our outstanding common stock | $ / shares | $ 5.43 |
Accounting Changes - Additional Information (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Disclosue of Accounting Changes [Line Items] | ||
| Reinsurance Recoverable, Allowance for Credit Loss | $ 42 | $ 0 |
| Commercial mortgage loan [Member] | ||
| Disclosue of Accounting Changes [Line Items] | ||
| Accrued interest carrying value in Accrued investment income | 24 | |
| Fixed maturity securities | ||
| Disclosue of Accounting Changes [Line Items] | ||
| Accrued interest carrying value in Accrued investment income | 555 | |
| Off BalanceSheet Credit Exposures [Member] | ||
| Disclosue of Accounting Changes [Line Items] | ||
| off-balance sheet expected credit losses | 1 | |
| Accounting Standards Update 2016-13 | Investments carried at amortized cost | ||
| Disclosue of Accounting Changes [Line Items] | ||
| Lifetime expected credit losses | 23 | |
| Deferred taxes | 6 | |
| Accounting Standards Update 2016-13 | Reinsurance recoverables | ||
| Disclosue of Accounting Changes [Line Items] | ||
| Deferred taxes | 9 | |
| Reinsurance Recoverable, Allowance for Credit Loss | $ 31 |
Earnings (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||||
| Earnings Per Share [Abstract] | ||||||
| Weighted-average common shares used in basic earnings (loss) per share calculations | 504.3 | 501.2 | ||||
| Stock options, restricted stock units and stock appreciation rights | 0.0 | 7.4 | ||||
| Weighted-average shares used in diluted earnings (loss) per share calculations | [1] | 504.3 | 508.6 | |||
| Income (loss) from continuing operations: | ||||||
| Income (loss) from continuing operations | $ (72) | $ 168 | ||||
| Less: net income (loss) from continuing operations attributable to noncontrolling interests | (6) | 20 | ||||
| Income (loss) from continuing operations available to Genworth Financial, Inc.'s common stockholders | $ (66) | $ 148 | ||||
| Basic per share | $ (0.13) | $ 0.29 | ||||
| Diluted per share | $ (0.13) | $ 0.29 | ||||
| Income from discontinued operations: | ||||||
| Income from discontinued operations, net of taxes | $ 0 | $ 62 | ||||
| Less: net income from discontinued operations attributable to noncontrolling interests | 0 | 36 | ||||
| Income from discontinued operations available to Genworth Financial, Inc.'s common stockholders | $ 0 | $ 26 | ||||
| Basic per share | $ 0 | $ 0.05 | ||||
| Diluted per share | $ 0 | $ 0.05 | ||||
| Net income (loss): | ||||||
| Income (loss) from continuing operations | $ (72) | $ 168 | ||||
| Income from discontinued operations, net of taxes | 0 | 62 | ||||
| Net income (loss) | (72) | 230 | ||||
| Less: net income (loss) attributable to noncontrolling interests | (6) | 56 | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders | $ (66) | $ 174 | ||||
| Basic per share | [2] | $ (0.13) | $ 0.35 | |||
| Diluted per share | $ (0.13) | $ 0.34 | ||||
| ||||||
Earnings (Loss) Per Share (Parenthetical) (Detail) shares in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2020
shares
| |
| Earnings Per Share Disclosure [Line Items] | |
| Weighted-average diluted common shares outstanding, antidilutive securities (stock options, RSUs and SARs) | 5.4 |
| Weighted-average number of diluted shares if not in a loss position | 509.7 |
Net Investment Income (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | $ 818 | $ 817 |
| Expenses and fees | (25) | (23) |
| Net investment income | 793 | 794 |
| Fixed maturity securities—taxable | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 622 | 613 |
| Fixed maturity securities—non-taxable | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 2 | 2 |
| Equity Securities | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 2 | 4 |
| Commercial mortgage loans | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 85 | 82 |
| Policy Loans | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 49 | 46 |
| Other invested assets | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | 47 | 59 |
| Cash, cash equivalents, restricted cash and short-term investments | ||
| Net Investment Income [Line Items] | ||
| Gross investment income before expenses and fees | $ 11 | $ 11 |
Net Investment Gains (Losses) (Detail) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||
| Available-for-sale securities: | ||||
| Realized gains | $ 14 | $ 79 | ||
| Realized losses | (1) | (21) | ||
| Net realized gains (losses) on available-for-sale securities | 13 | 58 | ||
| Total other-than-temporary impairments | 0 | 0 | ||
| Portion of other-than-temporary impairments included in other comprehensive income (loss) | 0 | 0 | ||
| Net other-than-temporary impairments | 0 | 0 | ||
| Net change in allowance for credit losses on available-for-sale fixed maturity securities | 0 | 0 | ||
| Net realized gains (losses) on equity securities sold | 0 | 3 | ||
| Net unrealized gains (losses) on equity securities still held | (19) | 12 | ||
| Limited partnerships | (40) | 15 | ||
| Commercial mortgage loans | 0 | (1) | ||
| Derivative instruments | [1] | (105) | (12) | |
| Other | (1) | 0 | ||
| Total net investment gains (losses) | $ (152) | $ 75 | ||
| ||||
Investments - Additional Information (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2019 |
|
| Schedule of Investments [Line Items] | ||
| Percentage of investment portfolio by which no other industry group exceeded | 10.00% | |
| Percentage of stockholders' equity by which no single issuer of fixed maturity securities exceeded | 10 | |
| Modified or extended troubled debt restructurings | $ 0 | $ 0 |
| Investments in partnerships or similar entities generally considered VIEs | 654 | 616 |
| Fixed Rate Commercial Mortgage Loans | ||
| Schedule of Investments [Line Items] | ||
| Commercial mortgage loans on nonaccrual status | $ 0 | $ 0 |
| Finance and insurance | Fixed maturity securities | ||
| Schedule of Investments [Line Items] | ||
| Percent of investment portfolio, greater than 10% | 23.00% | |
| Utilities | Fixed maturity securities | ||
| Schedule of Investments [Line Items] | ||
| Percent of investment portfolio, greater than 10% | 14.00% | |
| Consumer-non-cyclical | Fixed maturity securities | ||
| Schedule of Investments [Line Items] | ||
| Percent of investment portfolio, greater than 10% | 15.00% | |
| Technology and Communications [Member] | Fixed maturity securities | ||
| Schedule of Investments [Line Items] | ||
| Percent of investment portfolio, greater than 10% | 11.00% |
Credit Losses Recognized in Net Income (Loss) on Debt Securities (Detail) - Debt Securities $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2019
USD ($)
| |
| Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | |
| Cumulative credit losses, beginning balance | $ 24 |
| Other-than-temporary impairments not previously recognized | 0 |
| Increases related to other-than-temporary impairments previously recognized | 0 |
| Securities sold, paid down or disposed | (1) |
| Cumulative credit losses, ending balance | $ 23 |
Net Unrealized Gains and Losses on Available-for-Sale Investment Securities Reflected as Separate Component of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
||
|---|---|---|---|---|---|---|
| Components of Net Unrealized Investment Gains Losses Included in Accumulated Other Comprehensive Income Loss [Line Items] | ||||||
| Net unrealized gains (losses) on fixed maturity securities without an allowance for credit losses | [1] | $ 4,957 | $ 6,676 | |||
| Net unrealized gains (losses) on fixed maturity securities with an allowance for credit losses | [1] | 0 | 0 | |||
| Adjustments to deferred acquisition costs, present value of future profits, sales inducements and benefit reserves | (3,478) | (4,789) | ||||
| Income taxes, net | (318) | (406) | ||||
| Net unrealized investment gains (losses) including noncontrolling interests | 1,161 | 1,481 | ||||
| Less: net unrealized investment gains (losses) attributable to noncontrolling interests | 21 | 25 | ||||
| Net unrealized investment gains (losses) | $ 1,140 | $ 1,456 | $ 943 | $ 595 | ||
| ||||||
Change in Net Unrealized Gains (Losses) on Available-for-Sale Securities Reported in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Investments [Abstract] | ||
| Net unrealized investment gains (losses), beginning of period | $ 1,456 | $ 595 |
| Unrealized gains (losses) arising during the period: | ||
| Unrealized gains (losses) on fixed maturity securities | (1,712) | 1,999 |
| Adjustment to deferred acquisition costs | 168 | (989) |
| Adjustment to present value of future profits | (1) | (53) |
| Adjustment to sales inducements | 36 | (19) |
| Adjustment to benefit reserves and policyholder contract balances | 1,108 | (388) |
| Provision for income taxes | 87 | (123) |
| Change in unrealized gains (losses) on investment securities | (314) | 427 |
| Reclassification adjustments to net investment (gains) losses, net of taxes of $1 and $13 | (6) | (47) |
| Change in net unrealized investment gains (losses) | (320) | 380 |
| Less: change in net unrealized investment gains (losses) attributable to noncontrolling interests | (4) | 32 |
| Net unrealized investment gains (losses), end of period | $ 1,140 | $ 943 |
Change in Net Unrealized Gains (Losses) on Available-for-Sale Securities Reported in Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Components of Net Unrealized Investment Gains Losses Included in Accumulated Other Comprehensive Income Loss [Line Items] | ||
| Reclassification adjustments to net investment (gains) losses, taxes | $ 1 | $ 13 |
Amortized Cost or Cost, Gross Unrealized Gains (Losses) and Fair Value of Fixed Maturity and Equity Securities Classified as Available-for-Sale (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, total | $ 54,136 | $ 53,700 |
| Gross unrealized gains | 6,147 | |
| Gross unrealized losses | (1,232) | |
| Fair value, total | 59,051 | 60,339 |
| Amortized cost or cost, fixed maturity securities | 54,136 | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 59,051 | 60,339 |
| Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 4,041 | 4,073 |
| Gross unrealized gains, fixed maturity securities | 1,730 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 5,771 | 5,025 |
| Fixed maturity securities | State and Political Subdivisions | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,495 | 2,394 |
| Gross unrealized gains, fixed maturity securities | 374 | |
| Gross unrealized losses, fixed maturity securities | (5) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,864 | 2,747 |
| Fixed maturity securities | Non-U.S. government | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,118 | 1,235 |
| Gross unrealized gains, fixed maturity securities | 92 | |
| Gross unrealized losses, fixed maturity securities | (9) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,201 | 1,350 |
| Fixed maturity securities | U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 28,935 | 28,313 |
| Gross unrealized gains, fixed maturity securities | 2,862 | |
| Gross unrealized losses, fixed maturity securities | (720) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 31,077 | 32,111 |
| Fixed maturity securities | U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 4,333 | 4,322 |
| Gross unrealized gains, fixed maturity securities | 556 | |
| Gross unrealized losses, fixed maturity securities | (22) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 4,867 | 4,997 |
| Fixed maturity securities | U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,426 | 2,404 |
| Gross unrealized gains, fixed maturity securities | 51 | |
| Gross unrealized losses, fixed maturity securities | (385) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,092 | 2,699 |
| Fixed maturity securities | U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 7,179 | 6,977 |
| Gross unrealized gains, fixed maturity securities | 548 | |
| Gross unrealized losses, fixed maturity securities | (104) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 7,623 | 7,774 |
| Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 5,006 | 4,909 |
| Gross unrealized gains, fixed maturity securities | 725 | |
| Gross unrealized losses, fixed maturity securities | (46) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 5,685 | 5,701 |
| Fixed maturity securities | U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 3,000 | 2,883 |
| Gross unrealized gains, fixed maturity securities | 312 | |
| Gross unrealized losses, fixed maturity securities | (37) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 3,275 | 3,245 |
| Fixed maturity securities | U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,304 | 1,271 |
| Gross unrealized gains, fixed maturity securities | 72 | |
| Gross unrealized losses, fixed maturity securities | (31) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,345 | 1,396 |
| Fixed maturity securities | U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,420 | 2,345 |
| Gross unrealized gains, fixed maturity securities | 272 | |
| Gross unrealized losses, fixed maturity securities | (28) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,664 | 2,711 |
| Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,628 | 1,590 |
| Gross unrealized gains, fixed maturity securities | 134 | |
| Gross unrealized losses, fixed maturity securities | (43) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,719 | 1,760 |
| Fixed maturity securities | U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,344 | 1,320 |
| Gross unrealized gains, fixed maturity securities | 152 | |
| Gross unrealized losses, fixed maturity securities | (23) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,473 | 1,506 |
| Fixed maturity securities | U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 295 | 292 |
| Gross unrealized gains, fixed maturity securities | 40 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 334 | 322 |
| Fixed maturity securities | Non-U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 9,412 | 9,469 |
| Gross unrealized gains, fixed maturity securities | 650 | |
| Gross unrealized losses, fixed maturity securities | (263) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 9,799 | 10,525 |
| Fixed maturity securities | Non-U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 757 | 779 |
| Gross unrealized gains, fixed maturity securities | 24 | |
| Gross unrealized losses, fixed maturity securities | (16) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 765 | 829 |
| Fixed maturity securities | Non-U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,158 | 1,140 |
| Gross unrealized gains, fixed maturity securities | 42 | |
| Gross unrealized losses, fixed maturity securities | (102) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,098 | 1,319 |
| Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,023 | 2,087 |
| Gross unrealized gains, fixed maturity securities | 128 | |
| Gross unrealized losses, fixed maturity securities | (40) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,111 | 2,319 |
| Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 639 | 631 |
| Gross unrealized gains, fixed maturity securities | 43 | |
| Gross unrealized losses, fixed maturity securities | (8) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 674 | 684 |
| Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,021 | 1,010 |
| Gross unrealized gains, fixed maturity securities | 96 | |
| Gross unrealized losses, fixed maturity securities | (8) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,109 | 1,138 |
| Fixed maturity securities | Non-U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 877 | 896 |
| Gross unrealized gains, fixed maturity securities | 63 | |
| Gross unrealized losses, fixed maturity securities | (29) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 911 | 988 |
| Fixed maturity securities | Non-U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 546 | 565 |
| Gross unrealized gains, fixed maturity securities | 25 | |
| Gross unrealized losses, fixed maturity securities | (10) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 561 | 605 |
| Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 362 | 373 |
| Gross unrealized gains, fixed maturity securities | 12 | |
| Gross unrealized losses, fixed maturity securities | (12) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 362 | 397 |
| Fixed maturity securities | Non-U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 554 | 557 |
| Gross unrealized gains, fixed maturity securities | 62 | |
| Gross unrealized losses, fixed maturity securities | (13) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 603 | 629 |
| Fixed maturity securities | Non-U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 1,475 | 1,431 |
| Gross unrealized gains, fixed maturity securities | 155 | |
| Gross unrealized losses, fixed maturity securities | (25) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 1,605 | 1,617 |
| Fixed maturity securities | Residential mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,032 | 2,057 |
| Gross unrealized gains, fixed maturity securities | 258 | |
| Gross unrealized losses, fixed maturity securities | (17) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,273 | 2,270 |
| Fixed maturity securities | Commercial mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 2,876 | 2,897 |
| Gross unrealized gains, fixed maturity securities | 169 | |
| Gross unrealized losses, fixed maturity securities | (64) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | 2,981 | 3,026 |
| Fixed maturity securities | Other asset-backed | ||
| Schedule of Investments [Line Items] | ||
| Amortized cost or cost, fixed maturity securities | 3,227 | 3,262 |
| Gross unrealized gains, fixed maturity securities | 12 | |
| Gross unrealized losses, fixed maturity securities | (154) | |
| Allowance for credit losses | 0 | |
| Fair value, fixed maturity securities | $ 3,085 | 3,285 |
| Not other-than-temporary impairments | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains | 6,667 | |
| Gross unrealized losses | (43) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 952 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | State and Political Subdivisions | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 355 | |
| Gross unrealized losses, fixed maturity securities | (2) | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. government | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 117 | |
| Gross unrealized losses, fixed maturity securities | (2) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 3,816 | |
| Gross unrealized losses, fixed maturity securities | (18) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 675 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 303 | |
| Gross unrealized losses, fixed maturity securities | (8) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 798 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 796 | |
| Gross unrealized losses, fixed maturity securities | (4) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 363 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 125 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 367 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 172 | |
| Gross unrealized losses, fixed maturity securities | (2) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 187 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 30 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 1,061 | |
| Gross unrealized losses, fixed maturity securities | (5) | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 50 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 179 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 232 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 55 | |
| Gross unrealized losses, fixed maturity securities | (2) | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 128 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 92 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 40 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 24 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 73 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 188 | |
| Gross unrealized losses, fixed maturity securities | (2) | |
| Not other-than-temporary impairments | Fixed maturity securities | Residential mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 199 | |
| Gross unrealized losses, fixed maturity securities | (1) | |
| Not other-than-temporary impairments | Fixed maturity securities | Commercial mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 137 | |
| Gross unrealized losses, fixed maturity securities | (8) | |
| Not other-than-temporary impairments | Fixed maturity securities | Other asset-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 30 | |
| Gross unrealized losses, fixed maturity securities | (7) | |
| Other-than-temporary impairments | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains | 15 | |
| Gross unrealized losses | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | State and Political Subdivisions | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. government | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Utilities | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Energy | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Industrial | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Capital goods | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Transportation | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Non-U.S. corporate | Other | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Residential mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 15 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Commercial mortgage-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | 0 | |
| Other-than-temporary impairments | Fixed maturity securities | Other asset-backed | ||
| Schedule of Investments [Line Items] | ||
| Gross unrealized gains, fixed maturity securities | 0 | |
| Gross unrealized losses, fixed maturity securities | $ 0 |
Gross Unrealized Losses and Fair Value of Investment Securities (Detail) $ in Millions |
Mar. 31, 2020
USD ($)
Securities
|
Dec. 31, 2019
USD ($)
Securities
|
Dec. 12, 2019
USD ($)
|
|---|---|---|---|
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 14,428 | $ 1,452 | |
| Less than 12 months, Gross unrealized losses | $ (1,163) | $ (18) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,405 | 231 | |
| 12 months or more, Fair value | $ 423 | $ 817 | |
| 12 months or more, Gross unrealized losses | $ (69) | $ (25) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 92 | 158 | |
| Fair value | $ 14,851 | $ 2,269 | |
| Gross unrealized losses | $ (1,232) | $ (43) | |
| Number of securities in a continuous loss position | Securities | 2,497 | 389 | |
| Investment grade | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 13,122 | $ 1,408 | |
| Less than 12 months, Gross unrealized losses | $ (927) | $ (14) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,171 | 223 | |
| 12 months or more, Fair value | $ 313 | $ 702 | |
| 12 months or more, Gross unrealized losses | $ (42) | $ (15) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 77 | 145 | |
| Fair value | $ 13,435 | $ 2,110 | |
| Gross unrealized losses | $ (969) | $ (29) | |
| Number of securities in a continuous loss position | Securities | 2,248 | 368 | |
| Below investment grade | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 1,306 | $ 44 | |
| Less than 12 months, Gross unrealized losses | $ (236) | $ (4) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 234 | 8 | |
| 12 months or more, Fair value | $ 110 | $ 115 | |
| 12 months or more, Gross unrealized losses | $ (27) | $ (10) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 15 | 13 | |
| Fair value | $ 1,416 | $ 159 | |
| Gross unrealized losses | $ (263) | $ (14) | |
| Number of securities in a continuous loss position | Securities | 249 | 21 | |
| Fixed maturity securities | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 14,428 | $ 1,452 | |
| Less than 12 months, Gross unrealized losses | $ (1,163) | $ (18) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,405 | 231 | |
| 12 months or more, Fair value | $ 423 | $ 817 | |
| 12 months or more, Gross unrealized losses | $ (69) | $ (25) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 92 | 158 | |
| Fair value | $ 14,851 | $ 2,269 | |
| Gross unrealized losses | $ (1,232) | $ (43) | |
| Number of securities in a continuous loss position | Securities | 2,497 | 389 | |
| Fixed maturity securities | Less Than 20 Percent Below Cost | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 13,585 | $ 1,452 | |
| Less than 12 months, Gross unrealized losses | $ (752) | $ (18) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,258 | 231 | |
| 12 months or more, Fair value | $ 357 | $ 807 | |
| 12 months or more, Gross unrealized losses | $ (38) | $ (20) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 79 | 155 | |
| Fair value | $ 13,942 | $ 2,259 | |
| Gross unrealized losses | $ (790) | $ (38) | |
| Number of securities in a continuous loss position | Securities | 2,337 | 386 | |
| Fixed maturity securities | 20 To 50 percent below cost | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 784 | $ 0 | |
| Less than 12 months, Gross unrealized losses | $ (338) | $ 0 | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 134 | 0 | |
| 12 months or more, Fair value | $ 63 | $ 10 | |
| 12 months or more, Gross unrealized losses | $ (28) | $ (5) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 11 | 3 | |
| Fair value | $ 847 | $ 10 | |
| Gross unrealized losses | $ (366) | $ (5) | |
| Number of securities in a continuous loss position | Securities | 145 | 3 | |
| Fixed maturity securities | Greater Than 50 Percent Below Cost | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 59 | ||
| Less than 12 months, Gross unrealized losses | $ (73) | ||
| Less than 12 months, Number of securities in a continuous loss position | Securities | 13 | ||
| 12 months or more, Fair value | $ 3 | ||
| 12 months or more, Gross unrealized losses | $ (3) | ||
| 12 months or more, Number of securities in a continuous loss position | Securities | 2 | ||
| Fair value | $ 62 | ||
| Gross unrealized losses | $ (76) | ||
| Number of securities in a continuous loss position | Securities | 15 | ||
| Fixed maturity securities | State and Political Subdivisions | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 106 | $ 91 | |
| Less than 12 months, Gross unrealized losses | $ (5) | $ (2) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 18 | 14 | |
| 12 months or more, Fair value | $ 0 | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | 0 | |
| Fair value | $ 106 | $ 91 | |
| Gross unrealized losses | $ (5) | $ (2) | |
| Number of securities in a continuous loss position | Securities | 18 | 14 | |
| Fixed maturity securities | Non-U.S. government | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 156 | $ 224 | |
| Less than 12 months, Gross unrealized losses | $ (9) | $ (2) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 27 | 20 | |
| 12 months or more, Fair value | $ 0 | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | 0 | |
| Fair value | $ 156 | $ 224 | |
| Gross unrealized losses | $ (9) | $ (2) | |
| Number of securities in a continuous loss position | Securities | 27 | 20 | |
| Fixed maturity securities | U.S. corporate | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 7,358 | $ 123 | |
| Less than 12 months, Gross unrealized losses | $ (685) | $ (5) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 1,157 | 27 | |
| 12 months or more, Fair value | $ 139 | $ 302 | |
| 12 months or more, Gross unrealized losses | $ (35) | $ (13) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 16 | 33 | |
| Fair value | $ 7,497 | $ 425 | |
| Gross unrealized losses | $ (720) | $ (18) | |
| Number of securities in a continuous loss position | Securities | 1,173 | 60 | |
| Fixed maturity securities | Non-U.S. corporate | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 3,257 | $ 79 | |
| Less than 12 months, Gross unrealized losses | $ (258) | $ (1) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 537 | 12 | |
| 12 months or more, Fair value | $ 17 | $ 62 | |
| 12 months or more, Gross unrealized losses | $ (5) | $ (4) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 3 | 7 | |
| Fair value | $ 3,274 | $ 141 | |
| Gross unrealized losses | $ (263) | $ (5) | |
| Number of securities in a continuous loss position | Securities | 540 | 19 | |
| Fixed maturity securities | Residential mortgage-backed | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 304 | $ 22 | |
| Less than 12 months, Gross unrealized losses | $ (16) | $ (1) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 59 | 10 | |
| 12 months or more, Fair value | $ 13 | $ 0 | |
| 12 months or more, Gross unrealized losses | $ (1) | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 6 | 0 | |
| Fair value | $ 317 | $ 22 | |
| Gross unrealized losses | $ (17) | $ (1) | |
| Number of securities in a continuous loss position | Securities | 65 | 10 | |
| Fixed maturity securities | Commercial mortgage-backed | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 894 | $ 381 | |
| Less than 12 months, Gross unrealized losses | $ (60) | $ (5) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 152 | 51 | |
| 12 months or more, Fair value | $ 9 | $ 14 | |
| 12 months or more, Gross unrealized losses | $ (4) | $ (3) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 3 | 3 | |
| Fair value | $ 903 | $ 395 | |
| Gross unrealized losses | $ (64) | $ (8) | |
| Number of securities in a continuous loss position | Securities | 155 | 54 | |
| Fixed maturity securities | Other asset-backed | |||
| Schedule of Investments [Line Items] | |||
| Less than 12 months, Fair value | $ 2,353 | $ 532 | |
| Less than 12 months, Gross unrealized losses | $ (130) | $ (2) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 455 | 97 | |
| 12 months or more, Fair value | $ 245 | $ 439 | |
| 12 months or more, Gross unrealized losses | $ (24) | $ (5) | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 64 | 115 | |
| Fair value | $ 2,598 | $ 971 | |
| Gross unrealized losses | $ (154) | $ (7) | |
| Number of securities in a continuous loss position | Securities | 519 | 212 |
Gross Unrealized Losses and Fair Value of Corporate Securities Based on Industries (Detail) $ in Millions |
Mar. 31, 2020
USD ($)
Securities
|
Dec. 31, 2019
USD ($)
Securities
|
|---|---|---|
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 14,428 | $ 1,452 |
| Less than 12 months, Gross unrealized losses | $ (1,163) | $ (18) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,405 | 231 |
| 12 months or more, Fair value | $ 423 | $ 817 |
| 12 months or more, Gross unrealized losses | $ (69) | $ (25) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 92 | 158 |
| Fair value | $ 14,851 | $ 2,269 |
| Gross unrealized losses | $ (1,232) | $ (43) |
| Number of securities in a continuous loss position | Securities | 2,497 | 389 |
| Fixed maturity securities | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 14,428 | $ 1,452 |
| Less than 12 months, Gross unrealized losses | $ (1,163) | $ (18) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2,405 | 231 |
| 12 months or more, Fair value | $ 423 | $ 817 |
| 12 months or more, Gross unrealized losses | $ (69) | $ (25) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 92 | 158 |
| Fair value | $ 14,851 | $ 2,269 |
| Gross unrealized losses | $ (1,232) | $ (43) |
| Number of securities in a continuous loss position | Securities | 2,497 | 389 |
| Fixed maturity securities | U.S. corporate | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 7,358 | $ 123 |
| Less than 12 months, Gross unrealized losses | $ (685) | $ (5) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 1,157 | 27 |
| 12 months or more, Fair value | $ 139 | $ 302 |
| 12 months or more, Gross unrealized losses | $ (35) | $ (13) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 16 | 33 |
| Fair value | $ 7,497 | $ 425 |
| Gross unrealized losses | $ (720) | $ (18) |
| Number of securities in a continuous loss position | Securities | 1,173 | 60 |
| Fixed maturity securities | U.S. corporate | Utilities | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 582 | |
| Less than 12 months, Gross unrealized losses | $ (22) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 112 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 582 | |
| Gross unrealized losses | $ (22) | |
| Number of securities in a continuous loss position | Securities | 112 | |
| Fixed maturity securities | U.S. corporate | Energy | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 1,443 | $ 54 |
| Less than 12 months, Gross unrealized losses | $ (364) | $ (3) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 240 | 10 |
| 12 months or more, Fair value | $ 56 | $ 80 |
| 12 months or more, Gross unrealized losses | $ (21) | $ (5) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 9 | 10 |
| Fair value | $ 1,499 | $ 134 |
| Gross unrealized losses | $ (385) | $ (8) |
| Number of securities in a continuous loss position | Securities | 249 | 20 |
| Fixed maturity securities | U.S. corporate | Finance and insurance | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 1,911 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (104) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 259 | 0 |
| 12 months or more, Fair value | $ 0 | $ 34 |
| 12 months or more, Gross unrealized losses | $ 0 | $ (1) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | 4 |
| Fair value | $ 1,911 | $ 34 |
| Gross unrealized losses | $ (104) | $ (1) |
| Number of securities in a continuous loss position | Securities | 259 | 4 |
| Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 678 | $ 34 |
| Less than 12 months, Gross unrealized losses | $ (39) | $ (1) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 108 | 9 |
| 12 months or more, Fair value | $ 36 | $ 93 |
| 12 months or more, Gross unrealized losses | $ (7) | $ (3) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 2 | 9 |
| Fair value | $ 714 | $ 127 |
| Gross unrealized losses | $ (46) | $ (4) |
| Number of securities in a continuous loss position | Securities | 110 | 18 |
| Fixed maturity securities | U.S. corporate | Technology and communications | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 772 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (37) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 116 | 0 |
| 12 months or more, Fair value | $ 0 | $ 18 |
| 12 months or more, Gross unrealized losses | $ 0 | $ (1) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | 2 |
| Fair value | $ 772 | $ 18 |
| Gross unrealized losses | $ (37) | $ (1) |
| Number of securities in a continuous loss position | Securities | 116 | 2 |
| Fixed maturity securities | U.S. corporate | Industrial | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 473 | |
| Less than 12 months, Gross unrealized losses | $ (31) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 63 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 473 | |
| Gross unrealized losses | $ (31) | |
| Number of securities in a continuous loss position | Securities | 63 | |
| Fixed maturity securities | U.S. corporate | Capital goods | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 489 | $ 35 |
| Less than 12 months, Gross unrealized losses | $ (25) | $ (1) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 84 | 8 |
| 12 months or more, Fair value | $ 12 | $ 0 |
| 12 months or more, Gross unrealized losses | $ (3) | $ 0 |
| 12 months or more, Number of securities in a continuous loss position | Securities | 1 | 0 |
| Fair value | $ 501 | $ 35 |
| Gross unrealized losses | $ (28) | $ (1) |
| Number of securities in a continuous loss position | Securities | 85 | 8 |
| Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 585 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (39) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 102 | 0 |
| 12 months or more, Fair value | $ 35 | $ 54 |
| 12 months or more, Gross unrealized losses | $ (4) | $ (2) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 4 | 6 |
| Fair value | $ 620 | $ 54 |
| Gross unrealized losses | $ (43) | $ (2) |
| Number of securities in a continuous loss position | Securities | 106 | 6 |
| Fixed maturity securities | U.S. corporate | Transportation | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 420 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (23) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 71 | 0 |
| 12 months or more, Fair value | $ 0 | $ 23 |
| 12 months or more, Gross unrealized losses | $ 0 | $ (1) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | 2 |
| Fair value | $ 420 | $ 23 |
| Gross unrealized losses | $ (23) | $ (1) |
| Number of securities in a continuous loss position | Securities | 71 | 2 |
| Fixed maturity securities | U.S. corporate | Other | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 5 | |
| Less than 12 months, Gross unrealized losses | $ (1) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 2 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 5 | |
| Gross unrealized losses | $ (1) | |
| Number of securities in a continuous loss position | Securities | 2 | |
| Fixed maturity securities | Non-U.S. corporate | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 3,257 | $ 79 |
| Less than 12 months, Gross unrealized losses | $ (258) | $ (1) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 537 | 12 |
| 12 months or more, Fair value | $ 17 | $ 62 |
| 12 months or more, Gross unrealized losses | $ (5) | $ (4) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 3 | 7 |
| Fair value | $ 3,274 | $ 141 |
| Gross unrealized losses | $ (263) | $ (5) |
| Number of securities in a continuous loss position | Securities | 540 | 19 |
| Fixed maturity securities | Non-U.S. corporate | Utilities | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 279 | |
| Less than 12 months, Gross unrealized losses | $ (16) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 37 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 279 | |
| Gross unrealized losses | $ (16) | |
| Number of securities in a continuous loss position | Securities | 37 | |
| Fixed maturity securities | Non-U.S. corporate | Energy | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 591 | |
| Less than 12 months, Gross unrealized losses | $ (102) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 66 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 591 | |
| Gross unrealized losses | $ (102) | |
| Number of securities in a continuous loss position | Securities | 66 | |
| Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 649 | |
| Less than 12 months, Gross unrealized losses | $ (40) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 117 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 649 | |
| Gross unrealized losses | $ (40) | |
| Number of securities in a continuous loss position | Securities | 117 | |
| Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 136 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (6) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 50 | 0 |
| 12 months or more, Fair value | $ 5 | $ 31 |
| 12 months or more, Gross unrealized losses | $ (2) | $ (2) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 1 | 3 |
| Fair value | $ 141 | $ 31 |
| Gross unrealized losses | $ (8) | $ (2) |
| Number of securities in a continuous loss position | Securities | 51 | 3 |
| Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 189 | |
| Less than 12 months, Gross unrealized losses | $ (8) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 48 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 189 | |
| Gross unrealized losses | $ (8) | |
| Number of securities in a continuous loss position | Securities | 48 | |
| Fixed maturity securities | Non-U.S. corporate | Industrial | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 384 | |
| Less than 12 months, Gross unrealized losses | $ (29) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 57 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 384 | |
| Gross unrealized losses | $ (29) | |
| Number of securities in a continuous loss position | Securities | 57 | |
| Fixed maturity securities | Non-U.S. corporate | Capital goods | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 208 | |
| Less than 12 months, Gross unrealized losses | $ (10) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 24 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 208 | |
| Gross unrealized losses | $ (10) | |
| Number of securities in a continuous loss position | Securities | 24 | |
| Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 197 | |
| Less than 12 months, Gross unrealized losses | $ (12) | |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 43 | |
| 12 months or more, Fair value | $ 0 | |
| 12 months or more, Gross unrealized losses | $ 0 | |
| 12 months or more, Number of securities in a continuous loss position | Securities | 0 | |
| Fair value | $ 197 | |
| Gross unrealized losses | $ (12) | |
| Number of securities in a continuous loss position | Securities | 43 | |
| Fixed maturity securities | Non-U.S. corporate | Transportation | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 162 | $ 0 |
| Less than 12 months, Gross unrealized losses | $ (12) | $ 0 |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 33 | 0 |
| 12 months or more, Fair value | $ 7 | $ 25 |
| 12 months or more, Gross unrealized losses | $ (1) | $ (1) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 1 | 3 |
| Fair value | $ 169 | $ 25 |
| Gross unrealized losses | $ (13) | $ (1) |
| Number of securities in a continuous loss position | Securities | 34 | 3 |
| Fixed maturity securities | Non-U.S. corporate | Other | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 462 | $ 79 |
| Less than 12 months, Gross unrealized losses | $ (23) | $ (1) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 62 | 12 |
| 12 months or more, Fair value | $ 5 | $ 6 |
| 12 months or more, Gross unrealized losses | $ (2) | $ (1) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 1 | 1 |
| Fair value | $ 467 | $ 85 |
| Gross unrealized losses | $ (25) | $ (2) |
| Number of securities in a continuous loss position | Securities | 63 | 13 |
| Fixed maturity securities | Corporate Debt Securities | ||
| Available for Sale Securities Continuous Unrealized Loss Position [Line Items] | ||
| Less than 12 months, Fair value | $ 10,615 | $ 202 |
| Less than 12 months, Gross unrealized losses | $ (943) | $ (6) |
| Less than 12 months, Number of securities in a continuous loss position | Securities | 1,694 | 39 |
| 12 months or more, Fair value | $ 156 | $ 364 |
| 12 months or more, Gross unrealized losses | $ (40) | $ (17) |
| 12 months or more, Number of securities in a continuous loss position | Securities | 19 | 40 |
| Fair value | $ 10,771 | $ 566 |
| Gross unrealized losses | $ (983) | $ (23) |
| Number of securities in a continuous loss position | Securities | 1,713 | 79 |
Scheduled Maturity Distribution of Fixed Maturity Securities (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Amortized cost or cost | ||
| Due one year or less | $ 1,415 | |
| Due after one year through five years | 8,835 | |
| Due after five years through ten years | 12,207 | |
| Due after ten years | 23,544 | |
| Subtotal | 46,001 | |
| Amortized cost or cost, fixed maturity securities | 54,136 | |
| Fair value | ||
| Due one year or less | 1,421 | |
| Due after one year through five years | 8,949 | |
| Due after five years through ten years | 12,642 | |
| Due after ten years | 27,700 | |
| Subtotal | 50,712 | |
| Fair value, fixed maturity securities | 59,051 | $ 60,339 |
| Residential mortgage-backed | ||
| Amortized cost or cost | ||
| Fixed maturity securities | 2,032 | |
| Fair value | ||
| Fixed maturity securities | 2,273 | |
| Commercial mortgage-backed | ||
| Amortized cost or cost | ||
| Fixed maturity securities | 2,876 | |
| Fair value | ||
| Fixed maturity securities | 2,981 | |
| Other asset-backed | ||
| Amortized cost or cost | ||
| Fixed maturity securities | 3,227 | |
| Fair value | ||
| Fixed maturity securities | $ 3,085 |
Distribution Across Property Type and Geographic Region for Commercial Mortgage Loans (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,976 |
| Unamortized balance of loan origination fees and costs | $ 0 | $ (4) |
| % of total | 100.00% | 100.00% |
| Allowance for credit losses | $ (29) | $ (13) |
| Commercial mortgage loans, net | 6,915 | 6,963 |
| Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 6,944 | 6,980 |
| Unamortized balance of loan origination fees and costs | $ 0 | $ (4) |
| % of total | 100.00% | 100.00% |
| Allowance for credit losses | $ (29) | $ (13) |
| Commercial mortgage loans, net | 6,915 | 6,963 |
| South Atlantic | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,699 | $ 1,715 |
| % of total | 24.00% | 25.00% |
| Pacific | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,648 | $ 1,673 |
| % of total | 24.00% | 24.00% |
| Middle Atlantic | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 980 | $ 992 |
| % of total | 14.00% | 14.00% |
| Mountain | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 763 | $ 753 |
| % of total | 11.00% | 11.00% |
| West North Central | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 485 | $ 488 |
| % of total | 7.00% | 7.00% |
| East North Central | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 453 | $ 455 |
| % of total | 7.00% | 6.00% |
| West South Central | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 451 | $ 433 |
| % of total | 6.00% | 6.00% |
| New England | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 255 | $ 257 |
| % of total | 4.00% | 4.00% |
| East South Central | Commercial Mortgage Loan | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 210 | $ 214 |
| % of total | 3.00% | 3.00% |
| Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| % of total | 37.00% | 37.00% |
| Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,646 | $ 1,670 |
| % of total | 24.00% | 24.00% |
| Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,641 | $ 1,632 |
| % of total | 23.00% | 23.00% |
| Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 548 | $ 541 |
| % of total | 8.00% | 8.00% |
| Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 279 | $ 281 |
| % of total | 4.00% | 4.00% |
| Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
| % of total | 4.00% | 4.00% |
Aging of Past Due Commercial Mortgage Loans by Property Type (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,976 |
| % of total | 100.00% | 100.00% |
| Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| % of total | 37.00% | 37.00% |
| Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,646 | $ 1,670 |
| % of total | 24.00% | 24.00% |
| Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,641 | $ 1,632 |
| % of total | 23.00% | 23.00% |
| Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 548 | $ 541 |
| % of total | 8.00% | 8.00% |
| Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 279 | $ 281 |
| % of total | 4.00% | 4.00% |
| Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
| % of total | 4.00% | 4.00% |
| 31-60 days past due | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| 31-60 days past due | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| 31-60 days past due | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 31-60 days past due | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 31-60 days past due | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 31-60 days past due | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 31-60 days past due | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 61-90 days past due | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| 61-90 days past due | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| 61-90 days past due | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 61-90 days past due | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 61-90 days past due | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 61-90 days past due | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 61-90 days past due | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 90 days past due | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| Greater than 90 days past due | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| Greater than 90 days past due | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 90 days past due | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 90 days past due | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 90 days past due | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 90 days past due | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Total past due | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| Total past due | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| Total past due | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Total past due | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Total past due | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Total past due | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Total past due | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Current | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,980 |
| % of total | 100.00% | 100.00% |
| Current | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| Current | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,646 | 1,670 |
| Current | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,641 | 1,632 |
| Current | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 548 | 541 |
| Current | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 279 | 281 |
| Current | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
Allowance for Credit Losses and Recorded Investment in Commercial Mortgage Loans (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||
| Beginning balance | $ 13 | |
| Ending balance | 29 | |
| Allowance for Credit Losses | ||
| Financing Receivable, Allowance for Credit Losses [Line Items] | ||
| Beginning balance | 13 | $ 9 |
| Cumulative effect of change in accounting | 16 | 0 |
| Provision | 0 | 0 |
| Write-offs | 0 | 0 |
| Recoveries | 0 | 1 |
| Ending balance | $ 29 | $ 10 |
Loan-to-Value of Commercial Mortgage Loans by Property Type (Detail) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,976 |
| % of total | 100.00% | 100.00% |
| Weighted-average debt service coverage ratio | 1.90 | 1.90 |
| Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| % of total | 37.00% | 37.00% |
| Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,646 | $ 1,670 |
| % of total | 24.00% | 24.00% |
| Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,641 | $ 1,632 |
| % of total | 23.00% | 23.00% |
| Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 548 | $ 541 |
| % of total | 8.00% | 8.00% |
| Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 279 | $ 281 |
| % of total | 4.00% | 4.00% |
| Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
| % of total | 4.00% | 4.00% |
| 0% - 50% | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,671 | $ 2,694 |
| % of total | 38.00% | 39.00% |
| Weighted-average debt service coverage ratio | 2.31 | 2.32 |
| 0% - 50% | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 956 | $ 986 |
| 0% - 50% | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 787 | 808 |
| 0% - 50% | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 550 | 529 |
| 0% - 50% | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 220 | 211 |
| 0% - 50% | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 103 | 104 |
| 0% - 50% | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 55 | 56 |
| 51% - 60% | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,512 | $ 1,545 |
| % of total | 22.00% | 22.00% |
| Weighted-average debt service coverage ratio | 1.82 | 1.81 |
| 51% - 60% | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 587 | $ 579 |
| 51% - 60% | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 323 | 337 |
| 51% - 60% | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 353 | 380 |
| 51% - 60% | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 110 | 110 |
| 51% - 60% | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 70 | 70 |
| 51% - 60% | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 69 | 69 |
| 61% - 75% | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,761 | $ 2,741 |
| % of total | 40.00% | 39.00% |
| Weighted-average debt service coverage ratio | 1.55 | 1.55 |
| 61% - 75% | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,023 | $ 1,025 |
| 61% - 75% | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 536 | 525 |
| 61% - 75% | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 738 | 723 |
| 61% - 75% | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 218 | 220 |
| 61% - 75% | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 106 | 107 |
| 61% - 75% | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 140 | 141 |
| 76% - 100% | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| Weighted-average debt service coverage ratio | 0 | 0 |
| 76% - 100% | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| 76% - 100% | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 76% - 100% | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 76% - 100% | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 76% - 100% | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 76% - 100% | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| % of total | 0.00% | 0.00% |
| Weighted-average debt service coverage ratio | 0 | 0 |
| Greater than 100% | Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
| Greater than 100% | Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 0 | $ 0 |
Debt Service Coverage Ratio for Fixed Rate Commercial Mortgage Loans by Property Type (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2019 |
|
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,976 |
| % of total | 100.00% | 100.00% |
| Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,980 |
| % of total | 100.00% | 100.00% |
| Weighted-average loan-to-value | 54.00% | 54.00% |
| Retail | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| % of total | 37.00% | 37.00% |
| Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,566 | $ 2,590 |
| Industrial | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,646 | $ 1,670 |
| % of total | 24.00% | 24.00% |
| Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,646 | $ 1,670 |
| Office | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,641 | $ 1,632 |
| % of total | 23.00% | 23.00% |
| Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,641 | $ 1,632 |
| Apartments | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 548 | $ 541 |
| % of total | 8.00% | 8.00% |
| Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 548 | $ 541 |
| Mixed Use | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 279 | $ 281 |
| % of total | 4.00% | 4.00% |
| Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 279 | $ 281 |
| Other | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
| % of total | 4.00% | 4.00% |
| Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 264 | $ 266 |
| Less than 1.00 | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 183 | $ 190 |
| % of total | 3.00% | 3.00% |
| Weighted-average loan-to-value | 58.00% | 59.00% |
| Less than 1.00 | Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 65 | $ 68 |
| Less than 1.00 | Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 24 | 24 |
| Less than 1.00 | Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 41 | 44 |
| Less than 1.00 | Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 16 | 16 |
| Less than 1.00 | Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 3 | 4 |
| Less than 1.00 | Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 34 | 34 |
| 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 496 | $ 476 |
| % of total | 7.00% | 7.00% |
| Weighted-average loan-to-value | 61.00% | 61.00% |
| 1.00 - 1.25 | Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 138 | $ 141 |
| 1.00 - 1.25 | Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 50 | 51 |
| 1.00 - 1.25 | Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 113 | 89 |
| 1.00 - 1.25 | Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 31 | 32 |
| 1.00 - 1.25 | Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 18 | 16 |
| 1.00 - 1.25 | Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 146 | 147 |
| 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,277 | $ 1,280 |
| % of total | 18.00% | 18.00% |
| Weighted-average loan-to-value | 63.00% | 63.00% |
| 1.26 - 1.50 | Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 601 | $ 596 |
| 1.26 - 1.50 | Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 217 | 221 |
| 1.26 - 1.50 | Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 273 | 277 |
| 1.26 - 1.50 | Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 130 | 129 |
| 1.26 - 1.50 | Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 37 | 37 |
| 1.26 - 1.50 | Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 19 | 20 |
| 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,848 | $ 2,870 |
| % of total | 41.00% | 41.00% |
| Weighted-average loan-to-value | 58.00% | 58.00% |
| 1.51 - 2.00 | Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,126 | $ 1,148 |
| 1.51 - 2.00 | Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 655 | 658 |
| 1.51 - 2.00 | Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 745 | 751 |
| 1.51 - 2.00 | Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 186 | 175 |
| 1.51 - 2.00 | Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 105 | 107 |
| 1.51 - 2.00 | Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 31 | 31 |
| Greater than 2.00 | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 2,140 | $ 2,164 |
| % of total | 31.00% | 31.00% |
| Weighted-average loan-to-value | 41.00% | 41.00% |
| Greater than 2.00 | Retail | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 636 | $ 637 |
| Greater than 2.00 | Industrial | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 700 | 716 |
| Greater than 2.00 | Office | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 469 | 471 |
| Greater than 2.00 | Apartments | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 185 | 189 |
| Greater than 2.00 | Mixed Use | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | 116 | 117 |
| Greater than 2.00 | Other | Fixed Rate Commercial Mortgage Loans | ||
| SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 34 | $ 34 |
Commercial Mortgage Loans By Year of Origination and Credit Quality Indicator (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2019 |
|
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 6,944 | $ 6,976 |
| Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 6,944 | 6,980 |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 0% - 50% | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,671 | 2,694 |
| 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,671 | |
| 51% - 60% | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,512 | 1,545 |
| 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,512 | |
| 61% - 75% | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,761 | 2,741 |
| 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,761 | |
| 76% - 100% | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| Greater than 100% | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | 0 |
| Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 183 | 190 |
| 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 496 | 476 |
| 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,277 | 1,280 |
| 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,848 | 2,870 |
| Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,140 | $ 2,164 |
| 2020 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 107 | |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 2020 | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 4 | |
| 2020 | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 12 | |
| 2020 | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 91 | |
| 2020 | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2020 | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2020 | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2020 | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 24 | |
| 2020 | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 16 | |
| 2020 | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 53 | |
| 2020 | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 14 | |
| 2019 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 803 | |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 2019 | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 11 | |
| 2019 | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 29 | |
| 2019 | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 763 | |
| 2019 | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2019 | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2019 | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2019 | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 12 | |
| 2019 | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 360 | |
| 2019 | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 358 | |
| 2019 | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 73 | |
| 2018 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,003 | |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 2018 | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 33 | |
| 2018 | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 170 | |
| 2018 | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 800 | |
| 2018 | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2018 | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2018 | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 34 | |
| 2018 | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 107 | |
| 2018 | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 261 | |
| 2018 | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 507 | |
| 2018 | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 94 | |
| 2017 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 735 | |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 2017 | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 104 | |
| 2017 | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 280 | |
| 2017 | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 351 | |
| 2017 | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2017 | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2017 | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 3 | |
| 2017 | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 74 | |
| 2017 | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 97 | |
| 2017 | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 324 | |
| 2017 | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 237 | |
| 2016 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 507 | |
| Write-offs, gross | 0 | |
| 2016 | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 118 | |
| 2016 | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 149 | |
| 2016 | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 240 | |
| 2016 | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2016 | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2016 | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2016 | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 13 | |
| 2016 | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 88 | |
| 2016 | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 275 | |
| 2016 | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 131 | |
| 2015 and prior | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 3,789 | |
| Write-offs, gross | 0 | |
| Recoveries | 0 | |
| Write-offs, net | 0 | |
| 2015 and prior | 0% - 50% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 2,401 | |
| 2015 and prior | 51% - 60% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 872 | |
| 2015 and prior | 61% - 75% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 516 | |
| 2015 and prior | 76% - 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2015 and prior | Greater than 100% | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 0 | |
| 2015 and prior | Less than 1.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 146 | |
| 2015 and prior | 1.00 - 1.25 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 266 | |
| 2015 and prior | 1.26 - 1.50 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 455 | |
| 2015 and prior | 1.51 - 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | 1,331 | |
| 2015 and prior | Greater than 2.00 | Fixed Rate Commercial Mortgage Loans [Member] | ||
| Disclosure Of Commercial Mortgage Loans By Year Of Origination And Credit Quality Indicator [Line Items] | ||
| Commercial mortgage loans, recorded investment | $ 1,591 |
Schedule of Positions in Derivative Instruments (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | $ 1,148 | $ 310 | ||||||||||||
| Derivative liabilities, fair value | 1,139 | 805 | ||||||||||||
| Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 1,125 | 794 | ||||||||||||
| Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 14 | 11 | ||||||||||||
| Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 1,101 | 290 | ||||||||||||
| Interest rate swaps | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 10 | |||||||||||||
| Interest rate swaps | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 1,002 | 197 | ||||||||||||
| Foreign currency swaps | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 21 | 4 | ||||||||||||
| Equity index options | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 62 | 81 | ||||||||||||
| Other foreign currency contracts | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 14 | 1 | ||||||||||||
| Other foreign currency contracts | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 16 | 8 | ||||||||||||
| GMWB embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | [1] | 691 | 323 | |||||||||||
| GMWB embedded derivatives | Reinsurance recoverable | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | [2] | 47 | 20 | |||||||||||
| Fixed index annuity embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 413 | 452 | ||||||||||||
| Indexed universal life embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 21 | 19 | ||||||||||||
| Designated As Hedging Instrument | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 1,023 | 201 | ||||||||||||
| Derivative liabilities, fair value | 0 | 10 | ||||||||||||
| Designated As Hedging Instrument | Cash Flow Hedges | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 1,023 | 201 | ||||||||||||
| Derivative liabilities, fair value | 0 | 10 | ||||||||||||
| Designated As Hedging Instrument | Cash Flow Hedges | Interest rate swaps | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 0 | 10 | ||||||||||||
| Designated As Hedging Instrument | Cash Flow Hedges | Interest rate swaps | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 1,002 | 197 | ||||||||||||
| Designated As Hedging Instrument | Cash Flow Hedges | Foreign currency swaps | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 0 | 0 | ||||||||||||
| Designated As Hedging Instrument | Cash Flow Hedges | Foreign currency swaps | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 21 | 4 | ||||||||||||
| Derivatives not designated as hedges | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 125 | 109 | ||||||||||||
| Derivative liabilities, fair value | 1,139 | 795 | ||||||||||||
| Derivatives not designated as hedges | Equity index options | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 0 | 0 | ||||||||||||
| Derivatives not designated as hedges | Equity index options | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 62 | 81 | ||||||||||||
| Derivatives not designated as hedges | Financial futures | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 0 | 0 | ||||||||||||
| Derivatives not designated as hedges | Financial futures | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 0 | 0 | ||||||||||||
| Derivatives not designated as hedges | Other foreign currency contracts | Other liabilities | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | 14 | 1 | ||||||||||||
| Derivatives not designated as hedges | Other foreign currency contracts | Other invested assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 16 | 8 | ||||||||||||
| Derivatives not designated as hedges | GMWB embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | [3] | 691 | 323 | |||||||||||
| Derivatives not designated as hedges | GMWB embedded derivatives | Reinsurance recoverable | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | [4] | 47 | 20 | |||||||||||
| Derivatives not designated as hedges | Fixed index annuity embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | [5] | 413 | 452 | |||||||||||
| Derivatives not designated as hedges | Fixed index annuity embedded derivatives | Other assets | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | 0 | 0 | ||||||||||||
| Derivatives not designated as hedges | Indexed universal life embedded derivatives | Policyholder account balances | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative liabilities, fair value | [6] | 21 | 19 | |||||||||||
| Derivatives not designated as hedges | Indexed universal life embedded derivatives | Reinsurance recoverable | ||||||||||||||
| Derivative [Line Items] | ||||||||||||||
| Derivative assets, fair value | $ 0 | $ 0 | ||||||||||||
| ||||||||||||||
Activity Associated with Derivative Instruments (Detail) $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2020
USD ($)
Policies
| |
| Derivative [Line Items] | |
| Notional amount, beginning balance | $ 18,013 |
| Additions | 5,137 |
| Maturities/ terminations | (4,207) |
| Notional amount, ending balance | 18,943 |
| Designated As Hedging Instrument | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 9,078 |
| Additions | 1,158 |
| Maturities/ terminations | (1,102) |
| Notional amount, ending balance | 9,134 |
| Designated As Hedging Instrument | Cash Flow Hedges | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 9,078 |
| Additions | 1,158 |
| Maturities/ terminations | (1,102) |
| Notional amount, ending balance | 9,134 |
| Designated As Hedging Instrument | Cash Flow Hedges | Interest rate swaps | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 8,968 |
| Additions | 1,158 |
| Maturities/ terminations | (1,102) |
| Notional amount, ending balance | 9,024 |
| Designated As Hedging Instrument | Cash Flow Hedges | Foreign currency swaps | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 110 |
| Additions | 0 |
| Maturities/ terminations | 0 |
| Notional amount, ending balance | 110 |
| Derivatives not designated as hedges | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 8,935 |
| Additions | 3,979 |
| Maturities/ terminations | (3,105) |
| Notional amount, ending balance | 9,809 |
| Derivatives not designated as hedges | Interest rate swaps | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 4,674 |
| Additions | 0 |
| Maturities/ terminations | 0 |
| Notional amount, ending balance | 4,674 |
| Derivatives not designated as hedges | Equity index options | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 2,451 |
| Additions | 509 |
| Maturities/ terminations | (531) |
| Notional amount, ending balance | 2,429 |
| Derivatives not designated as hedges | Financial futures | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 1,182 |
| Additions | 1,651 |
| Maturities/ terminations | (1,266) |
| Notional amount, ending balance | 1,567 |
| Derivatives not designated as hedges | Other foreign currency contracts | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | 628 |
| Additions | 1,819 |
| Maturities/ terminations | (1,308) |
| Notional amount, ending balance | $ 1,139 |
| Derivatives not designated as hedges | GMWB embedded derivatives | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | Policies | 25,623 |
| Additions | Policies | 0 |
| Maturities/ terminations | Policies | (561) |
| Notional amount, ending balance | Policies | 25,062 |
| Derivatives not designated as hedges | Fixed index annuity embedded derivatives | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | Policies | 15,441 |
| Additions | Policies | 0 |
| Maturities/ terminations | Policies | (317) |
| Notional amount, ending balance | Policies | 15,124 |
| Derivatives not designated as hedges | Indexed universal life embedded derivatives | |
| Derivative [Line Items] | |
| Notional amount, beginning balance | Policies | 884 |
| Additions | Policies | 0 |
| Maturities/ terminations | Policies | (18) |
| Notional amount, ending balance | Policies | 866 |
Schedule of Pre-Tax Income (Loss) Effects of Cash Flow Hedges (Detail) - Cash Flow Hedges - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | $ 995 | $ 122 |
| Gain (loss) reclassified into net income from OCI | 47 | 44 |
| Gain (loss) recognized in net income (loss) | 0 | 2 |
| Interest Rate Swaps Hedging Assets | Net Investment Income | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | 1,041 | 137 |
| Gain (loss) reclassified into net income from OCI | 43 | 38 |
| Gain (loss) recognized in net income (loss) | 0 | 0 |
| Interest Rate Swaps Hedging Assets | Net Investment (Gains) Losses | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | 0 | 0 |
| Gain (loss) reclassified into net income from OCI | 4 | 6 |
| Gain (loss) recognized in net income (loss) | 0 | 0 |
| Interest Rate Swaps Hedging Liabilities | Interest Expense | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | (63) | (12) |
| Gain (loss) reclassified into net income from OCI | 0 | 0 |
| Gain (loss) recognized in net income (loss) | 0 | 0 |
| Foreign currency swaps | Net Investment Income | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | 17 | (3) |
| Gain (loss) reclassified into net income from OCI | 0 | 0 |
| Gain (loss) recognized in net income (loss) | $ 0 | 0 |
| Foreign currency swaps | Net Investment (Gains) Losses | ||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Gain (loss) recognized in OCI | 0 | |
| Gain (loss) reclassified into net income from OCI | 0 | |
| Gain (loss) recognized in net income (loss) | $ 2 | |
Reconciliation of Current Period Changes, Net of Applicable Income Taxes, for Derivatives Qualifying as Hedges (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Derivative Instruments [Abstract] | ||
| Derivatives qualifying as effective accounting hedges as of January 1 | $ 2,002 | $ 1,781 |
| Cumulative effect of changes in accounting: | ||
| Current period increases (decreases) in fair value, net of deferred taxes of $(212) and $(25) | 783 | 97 |
| Reclassification to net (income) loss, net of deferred taxes of $17 and $16 | (30) | (28) |
| Derivatives qualifying as effective accounting hedges as of March 31 | $ 2,755 | $ 1,850 |
Reconciliation of Current Period Changes, Net of Applicable Income Taxes, for Derivatives Qualifying as Hedges (Parenthetical) (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
| Current period increases (decreases) in fair value, deferred taxes | $ (212) | $ (25) |
| Reclassification to net (income), deferred taxes | $ 17 | $ 16 |
Derivative Instruments - Additional Information (Detail) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Derivative [Line Items] | ||||
| Derivatives designated as cash flow hedges gain (loss), amount expected to be reclassified to future net income (loss), net of tax | $ 2,755 | $ 1,850 | $ 2,002 | $ 1,781 |
| Year by which all forecasted transactions associated with qualifying cash flow hedges are expected to occur | 2057 | |||
| Derivatives designated as cash flow hedges gain (loss), amount expected to be reclassified to net income in the next 12 months, net of tax | $ 120 | |||
| Amount reclassified to net income in connection with forecasted transactions that were no longer considered probable of occurring | $ 2 | $ 4 | ||
Schedule of Pre-Tax Gain (Loss) Recognized in Net Income (Loss) for Effects of Derivatives not Designated as Hedges (Detail) - Derivatives not designated as hedges - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | $ (109) | $ (20) |
| Interest rate swaps | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | (10) | (1) |
| Equity index options | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | (13) | 17 |
| Financial futures | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | 261 | (44) |
| Other foreign currency contracts | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | (47) | 0 |
| GMWB embedded derivatives | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | (336) | 45 |
| Fixed index annuity embedded derivatives | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | 32 | (38) |
| Indexed universal life embedded derivatives | Net Investment (Gains) Losses | ||
| Derivative [Line Items] | ||
| Pre-tax gain (loss) recognized in net loss | $ 4 | $ 1 |
Additional Information about Derivative Assets and Liabilities Subject to Enforceable Master Netting Arrangement (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||||||
|---|---|---|---|---|---|---|---|---|
| Derivative [Line Items] | ||||||||
| Gross amounts recognized, derivatives assets | $ 1,148 | $ 310 | ||||||
| Gross amounts recognized, derivatives liabilities | 1,139 | 805 | ||||||
| Derivative assets | ||||||||
| Derivative [Line Items] | ||||||||
| Gross amounts recognized, derivatives assets | 291 | |||||||
| Gross amounts offset in the balance sheet, derivatives assets | 0 | |||||||
| Net amounts presented in the balance sheet, derivatives assets | 291 | |||||||
| Gross amounts not offset in the balance sheet, financial instruments, derivatives assets | [1],[2] | (7) | ||||||
| Collateral received | (179) | |||||||
| Collateral pledged | 0 | |||||||
| Over collateralization, derivatives assets | 18 | |||||||
| Net amount, derivatives assets | 123 | |||||||
| Subject to enforceable master netting arrangement | ||||||||
| Derivative [Line Items] | ||||||||
| Gross amounts recognized, net derivatives | 1,088 | 280 | ||||||
| Gross amounts offset in the balance sheet, net derivatives | 0 | 0 | ||||||
| Net amounts presented in the balance sheet, net derivatives | 1,088 | 280 | ||||||
| Gross amounts not offset in the balance sheet, financial instruments, net derivatives | [1] | 0 | 0 | |||||
| Collateral received | (1,016) | (179) | ||||||
| Collateral pledged | 451 | 405 | ||||||
| Over collateralization, net derivatives | (395) | (383) | ||||||
| Net amount | 128 | 123 | ||||||
| Subject to enforceable master netting arrangement | Derivative assets | ||||||||
| Derivative [Line Items] | ||||||||
| Gross amounts recognized, derivatives assets | 1,102 | |||||||
| Gross amounts offset in the balance sheet, derivatives assets | 0 | |||||||
| Net amounts presented in the balance sheet, derivatives assets | 1,102 | |||||||
| Gross amounts not offset in the balance sheet, financial instruments, derivatives assets | [1],[2] | 0 | ||||||
| Collateral received | (1,016) | |||||||
| Collateral pledged | 0 | |||||||
| Over collateralization, derivatives assets | 42 | |||||||
| Net amount, derivatives assets | 128 | |||||||
| Subject to enforceable master netting arrangement | Derivative liabilities | ||||||||
| Derivative [Line Items] | ||||||||
| Gross amounts recognized, derivatives liabilities | 14 | 11 | ||||||
| Gross amounts offset in the balance sheet, derivatives liabilities | 0 | 0 | ||||||
| Net amounts presented in the balance sheet, derivatives liabilities | 14 | 11 | ||||||
| Gross amounts not offset in the balance sheet, financial instruments, derivative liabilities | [1],[3] | 0 | (7) | |||||
| Collateral received | 0 | 0 | ||||||
| Collateral pledged | (451) | (405) | ||||||
| Over collateralization, derivatives liabilities | 437 | 401 | ||||||
| Net amount, derivatives liabilities | $ 0 | $ 0 | ||||||
| ||||||||
Additional Information about Derivative Assets and Liabilities Subject to Enforceable Master Netting Arrangement (Parenthetical) (Detail) - Derivative assets - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Derivative [Line Items] | ||
| Net amounts presented in the balance sheet, accruals on derivative assets | $ 291 | |
| Subject to enforceable master netting arrangement | ||
| Derivative [Line Items] | ||
| Net amounts presented in the balance sheet, accruals on derivative assets | $ 1,102 | |
| Other assets | Subject to enforceable master netting arrangement | ||
| Derivative [Line Items] | ||
| Net amounts presented in the balance sheet, accruals on derivative assets | $ 1 |
Fair Value Financial Instruments Not Required to Be Carried at Fair Value (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||
|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | $ 6,915 | $ 6,963 | ||
| Other invested assets | 2,465 | 1,632 | ||
| Liabilities: | ||||
| Long-term borrowings | [1] | 2,851 | 3,277 | |
| Non-recourse funding obligations | 311 | |||
| Level 1 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | 0 | 0 | ||
| Other invested assets | 0 | 0 | ||
| Liabilities: | ||||
| Long-term borrowings | 0 | 0 | ||
| Non-recourse funding obligations | 0 | |||
| Investment contracts | 0 | 0 | ||
| Commitments to fund limited partnerships | 0 | 0 | ||
| Commitments to fund bank loan investments | 0 | 0 | ||
| Ordinary course of business lending commitments | 0 | 0 | ||
| Level 2 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | 0 | 0 | ||
| Other invested assets | 41 | 49 | ||
| Liabilities: | ||||
| Long-term borrowings | 2,211 | 2,951 | ||
| Non-recourse funding obligations | 0 | |||
| Investment contracts | 0 | 0 | ||
| Commitments to fund limited partnerships | 0 | 0 | ||
| Commitments to fund bank loan investments | 0 | 0 | ||
| Ordinary course of business lending commitments | 0 | 0 | ||
| Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | 7,231 | 7,239 | ||
| Other invested assets | 418 | 383 | ||
| Liabilities: | ||||
| Long-term borrowings | 123 | 142 | ||
| Non-recourse funding obligations | 207 | |||
| Investment contracts | 12,438 | 12,086 | ||
| Commitments to fund limited partnerships | 0 | 0 | ||
| Commitments to fund bank loan investments | 0 | 0 | ||
| Ordinary course of business lending commitments | 0 | 0 | ||
| Carrying value | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | 6,915 | 6,963 | ||
| Other invested assets | 450 | 432 | ||
| Liabilities: | ||||
| Long-term borrowings | 2,851 | 3,277 | ||
| Non-recourse funding obligations | 311 | |||
| Investment contracts | 11,500 | 11,466 | ||
| Commitments to fund limited partnerships | 0 | 0 | ||
| Commitments to fund bank loan investments | 0 | 0 | ||
| Ordinary course of business lending commitments | 0 | 0 | ||
| Fair value | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Commercial mortgage loans | 7,231 | 7,239 | ||
| Other invested assets | 459 | 432 | ||
| Liabilities: | ||||
| Long-term borrowings | 2,334 | 3,093 | ||
| Non-recourse funding obligations | 207 | |||
| Investment contracts | 12,438 | 12,086 | ||
| Commitments to fund limited partnerships | 0 | 0 | ||
| Commitments to fund bank loan investments | 0 | 0 | ||
| Ordinary course of business lending commitments | 0 | |||
| Notional amount | ||||
| Liabilities: | ||||
| Commitments to fund limited partnerships | 1,018 | 976 | ||
| Commitments to fund bank loan investments | 29 | 52 | ||
| Ordinary course of business lending commitments | $ 122 | $ 69 | ||
| ||||
Fair Value of Financial Instruments - Additional Information (Detail) $ in Millions |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
|
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | $ 59,051 | $ 60,339 |
| GMWB non-performance risk impact | $ 112 | 62 |
| Period end valuation | 0 | |
| Fixed maturity securities | Non-U.S. government | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | $ 1,201 | 1,350 |
| Fixed maturity securities | U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 31,077 | 32,111 |
| Fixed maturity securities | Non-U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 9,799 | 10,525 |
| Level 2 | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 55,183 | 56,148 |
| Level 2 | Fixed maturity securities | Non-U.S. government | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 1,200 | 1,350 |
| Level 2 | Fixed maturity securities | U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 28,964 | 29,872 |
| Level 2 | Fixed maturity securities | Non-U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | $ 8,270 | 8,840 |
| Level 2 | Fixed maturity securities | Third-Party Pricing Services | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Percentage of available for sale debt securities | 91.00% | |
| Level 2 | Fixed maturity securities | Third-Party Pricing Services | Non-U.S. government | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | $ 1,185 | |
| Level 2 | Fixed maturity securities | Third-Party Pricing Services | U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 27,844 | |
| Level 2 | Fixed maturity securities | Third-Party Pricing Services | Non-U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 7,702 | |
| Level 2 | Fixed maturity securities | Internal models | Non-U.S. government | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 15 | |
| Level 2 | Fixed maturity securities | Internal models | U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 1,120 | |
| Level 2 | Fixed maturity securities | Internal models | Non-U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 568 | |
| Level 3 | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 3,868 | 4,191 |
| Level 3 | Fixed maturity securities | Non-U.S. government | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 1 | 0 |
| Level 3 | Fixed maturity securities | U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 2,113 | 2,239 |
| Level 3 | Fixed maturity securities | Non-U.S. corporate | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 1,529 | $ 1,685 |
| Level 3 | Fixed maturity securities | Internal models | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | 3,193 | |
| Level 3 | Fixed maturity securities | Broker Quotes | ||
| Fair Value of Financial Instruments [Line Items] | ||
| Available-for-sale debt securities | $ 675 |
Summary of Significant Inputs Used by Third-Party Pricing Services for Certain Fair Value Measurements of Fixed Maturity Securities that Classified as Level 2 (Detail) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended |
|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2019 |
|
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 59,051 | $ 60,339 |
| Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 5,771 | 5,025 |
| Fixed maturity securities | State and Political Subdivisions | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,864 | 2,747 |
| Fixed maturity securities | Non-U.S. government | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 1,201 | 1,350 |
| Fixed maturity securities | U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 31,077 | 32,111 |
| Fixed maturity securities | Non-U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 9,799 | 10,525 |
| Fixed maturity securities | Residential mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,273 | 2,270 |
| Fixed maturity securities | Commercial mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,981 | 3,026 |
| Fixed maturity securities | Other asset-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 3,085 | 3,285 |
| Level 2 | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 55,183 | 56,148 |
| Level 2 | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 5,771 | 5,025 |
| Level 2 | Fixed maturity securities | State and Political Subdivisions | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,781 | 2,645 |
| Level 2 | Fixed maturity securities | Non-U.S. government | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 1,200 | 1,350 |
| Level 2 | Fixed maturity securities | U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 28,964 | 29,872 |
| Level 2 | Fixed maturity securities | Non-U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 8,270 | 8,840 |
| Level 2 | Fixed maturity securities | Residential mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,249 | 2,243 |
| Level 2 | Fixed maturity securities | Commercial mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,981 | 3,020 |
| Level 2 | Fixed maturity securities | Other asset-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | 2,967 | $ 3,153 |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 5,771 | |
| Primary methodologies | Price quotes from trading desk, broker feeds | |
| Significant inputs | Bid side prices, trade prices, Option Adjusted Spread (“OAS”) to swap curve, Bond Market Association OAS, Treasury Curve, Agency Bullet Curve, maturity to issuer spread | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | State and Political Subdivisions | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 2,781 | |
| Primary methodologies | Multi-dimensional attribute-based modeling systems, third-party pricing vendors | |
| Significant inputs | Trade prices, material event notices, Municipal Market Data benchmark yields, broker quotes | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | Non-U.S. government | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 1,185 | |
| Primary methodologies | Matrix pricing, spread priced to benchmark curves, price quotes from market makers | |
| Significant inputs | Benchmark yields, trade prices, broker quotes, comparative transactions, issuer spreads, bid-offer spread, market research publications, third-party pricing sources | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 27,844 | |
| Primary methodologies | Multi-dimensional attribute-based modeling systems, broker quotes, price quotes from market makers, OAS- based models | |
| Significant inputs | Bid side prices to Treasury Curve, Issuer Curve, which includes sector, quality, duration, OAS percentage and change for spread matrix, trade prices, comparative transactions, Trade Reporting and Compliance Engine (“TRACE”) reports | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | Non-U.S. corporate | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 7,702 | |
| Primary methodologies | Multi-dimensional attribute-based modeling systems, OAS-based models, price quotes from market makers | |
| Significant inputs | Benchmark yields, trade prices, broker quotes, comparative transactions, issuer spreads, bid-offer spread, market research publications, third-party pricing sources | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | Residential mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 2,249 | |
| Primary methodologies | OAS-based models, single factor binomial models, internally priced | |
| Significant inputs | Prepayment and default assumptions, aggregation of bonds with similar characteristics, including collateral type, vintage, tranche type, weighted-average life, weighted-average loan age, issuer program and delinquency ratio, pay up and pay down factors, TRACE reports | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | Commercial mortgage-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 2,981 | |
| Primary methodologies | Multi-dimensional attribute-based modeling systems, pricing matrix, spread matrix priced to swap curves, Trepp commercial mortgage-backed securities analytics model | |
| Significant inputs | Credit risk, interest rate risk, prepayment speeds, new issue data, collateral performance, origination year, tranche type, original credit ratings, weighted-average life, cash flows, spreads derived from broker quotes, bid side prices, spreads to daily updated swaps curves, TRACE reports | |
| Level 2 | Third-Party Pricing Services | Fixed maturity securities | Other asset-backed | ||
| Fair value measurements Significant unobservable inputs [Line Items] | ||
| Available-for-sale debt securities | $ 2,967 | |
| Primary methodologies | Multi-dimensional attribute-based modeling systems, spread matrix priced to swap curves, price quotes from market makers | |
| Significant inputs | Spreads to daily updated swaps curves, spreads derived from trade prices and broker quotes, bid side prices, new issue data, collateral performance, analysis of prepayment speeds, cash flows, collateral loss analytics, historical issue analysis, trade data from market makers, TRACE reports |
Assets by Class of Instrument that are Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||||
|---|---|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | $ 59,051 | $ 60,339 | ||||
| Available-for-sale equity securities | 188 | 239 | ||||
| Derivative assets, fair value | 1,148 | 310 | ||||
| Total other invested assets | 2,465 | 1,632 | ||||
| Separate account assets | 4,967 | 6,108 | ||||
| Total assets | 66,102 | 67,761 | ||||
| Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Available-for-sale equity securities | [1] | 0 | 0 | |||
| Separate account assets | [1] | 0 | 0 | |||
| Total assets | [1] | 518 | 503 | |||
| Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 1,101 | 290 | ||||
| Securities lending collateral | 58 | 51 | ||||
| Short-term investments | 172 | 211 | ||||
| Limited partnerships | 518 | 503 | ||||
| Total other invested assets | 1,849 | 1,055 | ||||
| Other invested assets | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1] | 0 | 0 | |||
| Securities lending collateral | [1] | 0 | 0 | |||
| Short-term investments | [1] | 0 | 0 | |||
| Limited partnerships | [1] | 518 | 503 | |||
| Total other invested assets | [1] | 518 | 503 | |||
| Interest rate swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 1,002 | 197 | ||||
| Interest rate swaps | Other invested assets | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1] | 0 | 0 | |||
| Foreign currency swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 21 | 4 | ||||
| Foreign currency swaps | Other invested assets | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1] | 0 | 0 | |||
| Equity index options | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 62 | 81 | ||||
| Equity index options | Other invested assets | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1] | 0 | 0 | |||
| Other foreign currency contracts | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 16 | 8 | ||||
| Other foreign currency contracts | Other invested assets | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1] | 0 | 0 | |||
| GMWB embedded derivatives | Reinsurance recoverable | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [2] | 47 | 20 | |||
| GMWB embedded derivatives | Reinsurance recoverable | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [1],[2] | 0 | 0 | |||
| Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 5,771 | 5,025 | ||||
| Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | State and Political Subdivisions | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,864 | 2,747 | ||||
| Fixed maturity securities | State and Political Subdivisions | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. government | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,201 | 1,350 | ||||
| Fixed maturity securities | Non-U.S. government | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 31,077 | 32,111 | ||||
| Fixed maturity securities | U.S. corporate | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 4,867 | 4,997 | ||||
| Fixed maturity securities | U.S. corporate | Utilities | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,092 | 2,699 | ||||
| Fixed maturity securities | U.S. corporate | Energy | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 7,623 | 7,774 | ||||
| Fixed maturity securities | U.S. corporate | Finance and insurance | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 5,685 | 5,701 | ||||
| Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 3,275 | 3,245 | ||||
| Fixed maturity securities | U.S. corporate | Technology and communications | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,345 | 1,396 | ||||
| Fixed maturity securities | U.S. corporate | Industrial | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,664 | 2,711 | ||||
| Fixed maturity securities | U.S. corporate | Capital goods | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,719 | 1,760 | ||||
| Fixed maturity securities | U.S. corporate | Consumer-cyclical | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,473 | 1,506 | ||||
| Fixed maturity securities | U.S. corporate | Transportation | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 334 | 322 | ||||
| Fixed maturity securities | U.S. corporate | Other | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 9,799 | 10,525 | ||||
| Fixed maturity securities | Non-U.S. corporate | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 765 | 829 | ||||
| Fixed maturity securities | Non-U.S. corporate | Utilities | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,098 | 1,319 | ||||
| Fixed maturity securities | Non-U.S. corporate | Energy | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,111 | 2,319 | ||||
| Fixed maturity securities | Non-U.S. corporate | Finance and insurance | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 674 | 684 | ||||
| Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,109 | 1,138 | ||||
| Fixed maturity securities | Non-U.S. corporate | Technology and communications | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 911 | 988 | ||||
| Fixed maturity securities | Non-U.S. corporate | Industrial | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 561 | 605 | ||||
| Fixed maturity securities | Non-U.S. corporate | Capital goods | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 362 | 397 | ||||
| Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 603 | 629 | ||||
| Fixed maturity securities | Non-U.S. corporate | Transportation | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Non-U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,605 | 1,617 | ||||
| Fixed maturity securities | Non-U.S. corporate | Other | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Residential mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,273 | 2,270 | ||||
| Fixed maturity securities | Residential mortgage-backed | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Commercial mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,981 | 3,026 | ||||
| Fixed maturity securities | Commercial mortgage-backed | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Fixed maturity securities | Other asset-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 3,085 | 3,285 | ||||
| Fixed maturity securities | Other asset-backed | Net Asset Value | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | [1] | 0 | 0 | |||
| Level 1 | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Available-for-sale equity securities | 43 | 62 | ||||
| Total other invested assets | 0 | 0 | ||||
| Separate account assets | 4,967 | 6,108 | ||||
| Total assets | 5,010 | 6,170 | ||||
| Level 1 | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Securities lending collateral | 0 | 0 | ||||
| Short-term investments | 0 | 0 | ||||
| Limited partnerships | 0 | 0 | ||||
| Total other invested assets | 0 | 0 | ||||
| Level 1 | Interest rate swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 1 | Foreign currency swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 1 | Equity index options | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 1 | Other foreign currency contracts | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 1 | GMWB embedded derivatives | Reinsurance recoverable | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [2] | 0 | 0 | |||
| Level 1 | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | State and Political Subdivisions | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. government | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Non-U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Residential mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Commercial mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 1 | Fixed maturity securities | Other asset-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 2 | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 55,183 | 56,148 | ||||
| Available-for-sale equity securities | 95 | 126 | ||||
| Total other invested assets | 41 | 49 | ||||
| Separate account assets | 0 | 0 | ||||
| Total assets | 56,547 | 56,745 | ||||
| Level 2 | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 1,039 | 209 | ||||
| Securities lending collateral | 58 | 51 | ||||
| Short-term investments | 172 | 211 | ||||
| Limited partnerships | 0 | 0 | ||||
| Total other invested assets | 1,269 | 471 | ||||
| Level 2 | Interest rate swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 1,002 | 197 | ||||
| Level 2 | Foreign currency swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 21 | 4 | ||||
| Level 2 | Equity index options | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 2 | Other foreign currency contracts | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 16 | 8 | ||||
| Level 2 | GMWB embedded derivatives | Reinsurance recoverable | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [2] | 0 | 0 | |||
| Level 2 | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 5,771 | 5,025 | ||||
| Level 2 | Fixed maturity securities | State and Political Subdivisions | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,781 | 2,645 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. government | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,200 | 1,350 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 28,964 | 29,872 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 4,024 | 4,132 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,968 | 2,570 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 7,113 | 7,202 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 5,597 | 5,607 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 3,214 | 3,195 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,308 | 1,356 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,574 | 2,609 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,540 | 1,587 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,430 | 1,428 | ||||
| Level 2 | Fixed maturity securities | U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 196 | 186 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 8,270 | 8,840 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 410 | 455 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 862 | 1,072 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,888 | 2,085 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 616 | 625 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,082 | 1,110 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 819 | 884 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 426 | 444 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 198 | 250 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 495 | 438 | ||||
| Level 2 | Fixed maturity securities | Non-U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,474 | 1,477 | ||||
| Level 2 | Fixed maturity securities | Residential mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,249 | 2,243 | ||||
| Level 2 | Fixed maturity securities | Commercial mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,981 | 3,020 | ||||
| Level 2 | Fixed maturity securities | Other asset-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,967 | 3,153 | ||||
| Level 3 | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 3,868 | 4,191 | ||||
| Available-for-sale equity securities | 50 | 51 | ||||
| Total other invested assets | 418 | 383 | ||||
| Separate account assets | 0 | 0 | ||||
| Total assets | 4,027 | 4,343 | ||||
| Level 3 | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 62 | 81 | ||||
| Securities lending collateral | 0 | 0 | ||||
| Short-term investments | 0 | 0 | ||||
| Limited partnerships | 0 | 0 | ||||
| Total other invested assets | 62 | 81 | ||||
| Level 3 | Interest rate swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 3 | Foreign currency swaps | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 3 | Equity index options | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 62 | 81 | ||||
| Level 3 | Other foreign currency contracts | Other invested assets | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | 0 | 0 | ||||
| Level 3 | GMWB embedded derivatives | Reinsurance recoverable | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Derivative assets, fair value | [2] | 47 | 20 | |||
| Level 3 | Fixed maturity securities | U.S. government, agencies and government-sponsored enterprises | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 0 | ||||
| Level 3 | Fixed maturity securities | State and Political Subdivisions | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 83 | 102 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. government | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1 | 0 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 2,113 | 2,239 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 843 | 865 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 124 | 129 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 510 | 572 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 88 | 94 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 61 | 50 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 37 | 40 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 90 | 102 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 179 | 173 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 43 | 78 | ||||
| Level 3 | Fixed maturity securities | U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 138 | 136 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 1,529 | 1,685 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Utilities | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 355 | 374 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Energy | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 236 | 247 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Finance and insurance | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 223 | 234 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 58 | 59 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Technology and communications | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 27 | 28 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Industrial | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 92 | 104 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Capital goods | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 135 | 161 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 164 | 147 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Transportation | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 108 | 191 | ||||
| Level 3 | Fixed maturity securities | Non-U.S. corporate | Other | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 131 | 140 | ||||
| Level 3 | Fixed maturity securities | Residential mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 24 | 27 | ||||
| Level 3 | Fixed maturity securities | Commercial mortgage-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | 0 | 6 | ||||
| Level 3 | Fixed maturity securities | Other asset-backed | ||||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
| Available-for-sale debt securities | $ 118 | $ 132 | ||||
| ||||||
Assets Measured at Fair Value on Recurring Basis and Utilized Significant Unobservable (Level 3) Inputs to Determine Fair Value (Detail) - USD ($) $ in Millions |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | $ 4,343 | $ 3,982 | |||||
| Total realized and unrealized gains (losses), Included in net income | 18 | 18 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (273) | 133 | |||||
| Purchases | 93 | 193 | |||||
| Sales | (22) | (17) | |||||
| Issuances | 1 | 1 | |||||
| Settlements | (83) | (131) | |||||
| Transfer into Level 3 | [1] | 150 | 103 | ||||
| Transfer out of Level 3 | [1] | (200) | (30) | ||||
| Ending balance | 4,027 | 4,252 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 25 | 11 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (259) | ||||||
| Other invested assets | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 81 | 39 | |||||
| Total realized and unrealized gains (losses), Included in net income | (13) | 17 | |||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | 0 | |||||
| Purchases | 11 | 12 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (17) | (8) | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 62 | 60 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | (3) | 12 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Other invested assets | Derivative assets | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 81 | 39 | |||||
| Total realized and unrealized gains (losses), Included in net income | (13) | 17 | |||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | 0 | |||||
| Purchases | 11 | 12 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (17) | (8) | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 62 | 60 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | (3) | 12 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Other invested assets | Derivative assets | Equity index options | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 81 | 39 | |||||
| Total realized and unrealized gains (losses), Included in net income | (13) | 17 | |||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | 0 | |||||
| Purchases | 11 | 12 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (17) | (8) | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 62 | 60 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | (3) | 12 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Reinsurance recoverable | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 20 | 20 | [2] | ||||
| Total realized and unrealized gains (losses), Included in net income | 26 | (3) | [2] | ||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | 0 | [2] | ||||
| Purchases | 0 | 0 | [2] | ||||
| Sales | 0 | 0 | [2] | ||||
| Issuances | 1 | 1 | [2] | ||||
| Settlements | 0 | 0 | [2] | ||||
| Transfer into Level 3 | [1],[2] | 0 | 0 | ||||
| Transfer out of Level 3 | [1],[2] | 0 | 0 | ||||
| Ending balance | 47 | 18 | [2] | ||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 26 | (3) | [2] | ||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Fixed maturity securities | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 4,191 | 3,865 | |||||
| Total realized and unrealized gains (losses), Included in net income | 5 | 4 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (273) | 133 | |||||
| Purchases | 82 | 181 | |||||
| Sales | (21) | (14) | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (66) | (123) | |||||
| Transfer into Level 3 | [1] | 150 | 103 | ||||
| Transfer out of Level 3 | [1] | (200) | (30) | ||||
| Ending balance | 3,868 | 4,119 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 2 | 2 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (259) | ||||||
| Fixed maturity securities | Non-U.S. government | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 0 | ||||||
| Total realized and unrealized gains (losses), Included in net income | 0 | ||||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | ||||||
| Purchases | 0 | ||||||
| Sales | 0 | ||||||
| Issuances | 0 | ||||||
| Settlements | 0 | ||||||
| Transfer into Level 3 | [1] | 1 | |||||
| Transfer out of Level 3 | [1] | 0 | |||||
| Ending balance | 1 | ||||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | ||||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Fixed maturity securities | State and political subdivisions | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 102 | 51 | |||||
| Total realized and unrealized gains (losses), Included in net income | 1 | 1 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (19) | 0 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (1) | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | |||||
| Ending balance | 83 | 52 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 1 | 1 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (19) | ||||||
| Fixed maturity securities | U.S. corporate | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 2,239 | 1,998 | |||||
| Total realized and unrealized gains (losses), Included in net income | 2 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (104) | 68 | |||||
| Purchases | 35 | 70 | |||||
| Sales | (21) | (14) | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (22) | (47) | |||||
| Transfer into Level 3 | [1] | 53 | 96 | ||||
| Transfer out of Level 3 | [1] | (69) | (9) | ||||
| Ending balance | 2,113 | 2,162 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (94) | ||||||
| Fixed maturity securities | U.S. corporate | Utilities | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 865 | 643 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (25) | 22 | |||||
| Purchases | 0 | 14 | |||||
| Sales | 0 | (1) | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | (2) | |||||
| Transfer into Level 3 | [1] | 16 | 72 | ||||
| Transfer out of Level 3 | [1] | (13) | 0 | ||||
| Ending balance | 843 | 748 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (23) | ||||||
| Fixed maturity securities | U.S. corporate | Energy | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 129 | 121 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (15) | 4 | |||||
| Purchases | 10 | 0 | |||||
| Sales | (21) | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (1) | (10) | |||||
| Transfer into Level 3 | [1] | 22 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 124 | 115 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (14) | ||||||
| Fixed maturity securities | U.S. corporate | Finance and insurance | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 572 | 534 | |||||
| Total realized and unrealized gains (losses), Included in net income | 2 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (31) | 23 | |||||
| Purchases | 0 | 30 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (12) | (4) | |||||
| Transfer into Level 3 | [1] | 0 | 7 | ||||
| Transfer out of Level 3 | [1] | (21) | 0 | ||||
| Ending balance | 510 | 590 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (28) | ||||||
| Fixed maturity securities | U.S. corporate | Consumer-non-cyclical | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 94 | 73 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (6) | 2 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | (10) | |||||
| Transfer into Level 3 | [1] | 0 | 9 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 88 | 74 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (6) | ||||||
| Fixed maturity securities | U.S. corporate | Technology and communications | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 50 | 50 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (4) | 2 | |||||
| Purchases | 20 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | (5) | 0 | ||||
| Ending balance | 61 | 52 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (4) | ||||||
| Fixed maturity securities | U.S. corporate | Industrial | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 40 | 39 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (3) | 1 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 37 | 40 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (2) | ||||||
| Fixed maturity securities | U.S. corporate | Capital goods | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 102 | 92 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (8) | 3 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (4) | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 90 | 95 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (8) | ||||||
| Fixed maturity securities | U.S. corporate | Consumer-cyclical | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 173 | 211 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (7) | 7 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | (13) | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (2) | (1) | |||||
| Transfer into Level 3 | [1] | 15 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | (9) | ||||
| Ending balance | 179 | 195 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (7) | ||||||
| Fixed maturity securities | U.S. corporate | Transportation | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 78 | 57 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (4) | 1 | |||||
| Purchases | 0 | 4 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (1) | (8) | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | (30) | 0 | ||||
| Ending balance | 43 | 54 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (1) | ||||||
| Fixed maturity securities | U.S. corporate | Other | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 136 | 178 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (1) | 3 | |||||
| Purchases | 5 | 22 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (2) | (12) | |||||
| Transfer into Level 3 | [1] | 0 | 8 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 138 | 199 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (1) | ||||||
| Fixed maturity securities | Non-U.S. corporate | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 1,685 | 1,532 | |||||
| Total realized and unrealized gains (losses), Included in net income | 2 | 3 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (146) | 62 | |||||
| Purchases | 38 | 56 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (26) | (63) | |||||
| Transfer into Level 3 | [1] | 95 | 6 | ||||
| Transfer out of Level 3 | [1] | (119) | (21) | ||||
| Ending balance | 1,529 | 1,575 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 1 | 1 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (140) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Utilities | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 374 | 404 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (20) | 16 | |||||
| Purchases | 11 | 30 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 21 | 0 | ||||
| Transfer out of Level 3 | [1] | (31) | (15) | ||||
| Ending balance | 355 | 435 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (20) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Energy | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 247 | 217 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (30) | 7 | |||||
| Purchases | 0 | 1 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | (4) | |||||
| Transfer into Level 3 | [1] | 19 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 236 | 221 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (30) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Finance and insurance | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 234 | 171 | |||||
| Total realized and unrealized gains (losses), Included in net income | 1 | 1 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (41) | 11 | |||||
| Purchases | 15 | 5 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 21 | 0 | ||||
| Transfer out of Level 3 | [1] | (7) | (6) | ||||
| Ending balance | 223 | 182 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 1 | 1 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (40) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Consumer-non-cyclical | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 59 | 106 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 2 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (3) | 3 | |||||
| Purchases | 8 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | (44) | |||||
| Transfer into Level 3 | [1] | 1 | 0 | ||||
| Transfer out of Level 3 | [1] | (7) | 0 | ||||
| Ending balance | 58 | 67 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (3) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Technology and communications | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 28 | 26 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (1) | 1 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 27 | 27 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (1) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Industrial | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 104 | 61 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (7) | 2 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (5) | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 92 | 63 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (6) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Capital goods | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 161 | 173 | |||||
| Total realized and unrealized gains (losses), Included in net income | 1 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (11) | 6 | |||||
| Purchases | 0 | 5 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (16) | (11) | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 135 | 173 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (11) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Consumer-cyclical | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 147 | 122 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (15) | 6 | |||||
| Purchases | 4 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (4) | (3) | |||||
| Transfer into Level 3 | [1] | 32 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 164 | 125 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (15) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Transportation | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 191 | 171 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (9) | 6 | |||||
| Purchases | 0 | 15 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | (74) | 0 | ||||
| Ending balance | 108 | 192 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (5) | ||||||
| Fixed maturity securities | Non-U.S. corporate | Other | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 140 | 81 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (9) | 4 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (1) | (1) | |||||
| Transfer into Level 3 | [1] | 1 | 6 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 131 | 90 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (9) | ||||||
| Fixed maturity securities | Residential mortgage-backed | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 27 | 35 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (1) | 0 | |||||
| Purchases | 0 | 0 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 1 | 0 | ||||
| Transfer out of Level 3 | [1] | (3) | 0 | ||||
| Ending balance | 24 | 35 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (1) | ||||||
| Fixed maturity securities | Commercial mortgage-backed | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 6 | 95 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | 1 | 2 | |||||
| Purchases | 0 | 1 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | (7) | 0 | ||||
| Ending balance | 0 | 98 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | 0 | ||||||
| Fixed maturity securities | Other asset-backed | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 132 | 154 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | (4) | 1 | |||||
| Purchases | 9 | 54 | |||||
| Sales | 0 | 0 | |||||
| Issuances | 0 | 0 | |||||
| Settlements | (17) | (13) | |||||
| Transfer into Level 3 | [1] | 0 | 1 | ||||
| Transfer out of Level 3 | [1] | (2) | 0 | ||||
| Ending balance | 118 | 197 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | (5) | ||||||
| Equity Securities | |||||||
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||
| Beginning balance | 51 | 58 | |||||
| Total realized and unrealized gains (losses), Included in net income | 0 | 0 | |||||
| Total realized and unrealized gains (losses), Included in OCI | 0 | 0 | |||||
| Purchases | 0 | 0 | |||||
| Sales | (1) | (3) | |||||
| Issuances | 0 | 0 | |||||
| Settlements | 0 | 0 | |||||
| Transfer into Level 3 | [1] | 0 | 0 | ||||
| Transfer out of Level 3 | [1] | 0 | 0 | ||||
| Ending balance | 50 | 55 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in net income | 0 | $ 0 | |||||
| Total gains (losses) included in net income attributable to assets still held, Included in OCI | $ 0 | ||||||
| |||||||
Gains and Losses Included in Net Income (Loss) from Assets Measured at Fair Value (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Fair value of financial instruments [Abstract] | ||
| Total realized and unrealized gains (losses) included in net income, assets | $ 18 | $ 18 |
| Net gains (losses) included in net income attributable to assets still held, assets | 25 | 11 |
| Net Investment Income | ||
| Fair value of financial instruments [Abstract] | ||
| Total realized and unrealized gains (losses) included in net income, assets | 0 | 4 |
| Net gains (losses) included in net income attributable to assets still held, assets | 0 | 2 |
| Net investment gains (losses) | ||
| Fair value of financial instruments [Abstract] | ||
| Total realized and unrealized gains (losses) included in net income, assets | 18 | 14 |
| Net gains (losses) included in net income attributable to assets still held, assets | $ 25 | $ 9 |
Summary of Significant Unobservable Inputs Used for Fair Value Measurements Classified As Level 3 (Detail) $ in Millions |
3 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Mar. 31, 2020
USD ($)
Claim
|
Dec. 31, 2019
USD ($)
|
|||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | $ 1,139 | $ 805 | ||||||
| Fixed maturity securities available-for-sale, at fair value | 59,051 | 60,339 | ||||||
| Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | 1,125 | 794 | ||||||
| Level 3 | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Fixed maturity securities available-for-sale, at fair value | $ 3,868 | 4,191 | ||||||
| Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 1,841 | |||||||
| Fair value input, credit spreads, lower limit | 1.50 | |||||||
| Fair value input, credit spreads, upper limit | 8.82 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.26 | ||||||
| Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 1,214 | |||||||
| Fair value input, credit spreads, lower limit | 2.12 | |||||||
| Fair value input, credit spreads, upper limit | 7.99 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.65 | ||||||
| Level 3 | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | $ 1,125 | 794 | ||||||
| Fair value, withdrawal utilization rate, lower limit | 56.00% | |||||||
| Fair value, withdrawal utilization rate, upper limit | 88.00% | |||||||
| Fair value, lapse rate, lower limit | 2.00% | |||||||
| Fair value, lapse rate, upper limit | 9.00% | |||||||
| Fair value input, credit spreads, lower limit | 0.83 | |||||||
| Fair value input, credit spreads, upper limit | 0.95 | |||||||
| Fair value input, credit spreads, weighted-average | [2] | 0.86 | ||||||
| Fair value, withdrawal utilization rate, weighted-average | [2] | 73.00% | ||||||
| Fair value, lapse rate, weighted-average | 3.00% | |||||||
| Capital goods | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 90 | |||||||
| Fair value input, credit spreads, lower limit | 3.45 | |||||||
| Fair value input, credit spreads, upper limit | 5.24 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 4.09 | ||||||
| Capital goods | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 135 | |||||||
| Fair value input, credit spreads, lower limit | 2.12 | |||||||
| Fair value input, credit spreads, upper limit | 5.34 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 4.55 | ||||||
| Consumer-cyclical | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 153 | |||||||
| Fair value input, credit spreads, lower limit | 2.49 | |||||||
| Fair value input, credit spreads, upper limit | 5.34 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.56 | ||||||
| Consumer-cyclical | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 43 | |||||||
| Fair value input, credit spreads, lower limit | 2.41 | |||||||
| Fair value input, credit spreads, upper limit | 3.96 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.38 | ||||||
| Consumer-non-cyclical | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 88 | |||||||
| Fair value input, credit spreads, lower limit | 2.22 | |||||||
| Fair value input, credit spreads, upper limit | 6.59 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 4.24 | ||||||
| Consumer-non-cyclical | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 56 | |||||||
| Fair value input, credit spreads, lower limit | 2.12 | |||||||
| Fair value input, credit spreads, upper limit | 3.63 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.27 | ||||||
| Energy | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 17 | |||||||
| Fair value input, credit spreads, lower limit | 2.97 | |||||||
| Fair value input, credit spreads, upper limit | 6.59 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 4.90 | ||||||
| Energy | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 102 | |||||||
| Fair value input, credit spreads, lower limit | 3.45 | |||||||
| Fair value input, credit spreads, upper limit | 3.96 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.64 | ||||||
| Finance and insurance | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 457 | |||||||
| Fair value input, credit spreads, lower limit | 2.15 | |||||||
| Fair value input, credit spreads, upper limit | 5.79 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.48 | ||||||
| Finance and insurance | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 166 | |||||||
| Fair value input, credit spreads, lower limit | 2.63 | |||||||
| Fair value input, credit spreads, upper limit | 4.35 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.67 | ||||||
| Industrial | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 37 | |||||||
| Fair value input, credit spreads, lower limit | 5.24 | |||||||
| Fair value input, credit spreads, upper limit | 8.82 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 6.28 | ||||||
| Industrial | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 92 | |||||||
| Fair value input, credit spreads, lower limit | 2.12 | |||||||
| Fair value input, credit spreads, upper limit | 5.34 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.40 | ||||||
| Other | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 138 | |||||||
| Fair value input, credit spreads, lower limit | 2.13 | |||||||
| Fair value input, credit spreads, upper limit | 2.82 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 2.25 | ||||||
| Other | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 130 | |||||||
| Fair value input, credit spreads, lower limit | 2.44 | |||||||
| Fair value input, credit spreads, upper limit | 7.99 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 4.41 | ||||||
| Technology and communications | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 61 | |||||||
| Fair value input, credit spreads, lower limit | 2.64 | |||||||
| Fair value input, credit spreads, upper limit | 5.59 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.54 | ||||||
| Technology and communications | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 27 | |||||||
| Fair value input, credit spreads, lower limit | 3.45 | |||||||
| Fair value input, credit spreads, upper limit | 3.63 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.51 | ||||||
| Transportation | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 43 | |||||||
| Fair value input, credit spreads, lower limit | 1.50 | |||||||
| Fair value input, credit spreads, upper limit | 3.67 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 2.70 | ||||||
| Transportation | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 108 | |||||||
| Fair value input, credit spreads, lower limit | 2.22 | |||||||
| Fair value input, credit spreads, upper limit | 5.34 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.87 | ||||||
| Utilities | Level 3 | U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 757 | |||||||
| Fair value input, credit spreads, lower limit | 2.02 | |||||||
| Fair value input, credit spreads, upper limit | 6.67 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 2.86 | ||||||
| Utilities | Level 3 | Non-U.S. corporate | Internal Models | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Internal models | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 355 | |||||||
| Fair value input, credit spreads, lower limit | 2.33 | |||||||
| Fair value input, credit spreads, upper limit | 3.87 | |||||||
| Fair value input, credit spreads, weighted-average | [1] | 3.12 | ||||||
| Fixed index annuity embedded derivatives | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | $ 413 | 452 | ||||||
| Fixed index annuity embedded derivatives | Level 3 | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Option budget method | |||||||
| Derivative liabilities, fair value | $ 413 | 452 | ||||||
| Fair value, expected future interest credited, lower limit | 0.00% | |||||||
| Fair value, expected future interest credited, upper limit | 3.00% | |||||||
| Fair value, expected future interest credited, weighted-average | [2] | 1.00% | ||||||
| Equity index options | Level 3 | Other invested assets | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Discounted cash flows | |||||||
| Fixed maturity securities available-for-sale, at fair value | $ 62 | |||||||
| Fair value input, credit spreads, lower limit | 0.06 | |||||||
| Fair value input, credit spreads, upper limit | 0.48 | |||||||
| Fair value input, credit spreads, weighted-average | Claim | [1] | 0.27 | ||||||
| Indexed universal life embedded derivatives | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | $ 21 | 19 | ||||||
| Indexed universal life embedded derivatives | Level 3 | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Option budget method | |||||||
| Derivative liabilities, fair value | $ 21 | 19 | ||||||
| Fair value, expected future interest credited, lower limit | 3.00% | |||||||
| Fair value, expected future interest credited, upper limit | 13.00% | |||||||
| Fair value, expected future interest credited, weighted-average | [2] | 5.00% | ||||||
| GMWB embedded derivatives | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Derivative liabilities, fair value | [3] | $ 691 | 323 | |||||
| GMWB embedded derivatives | Level 3 | Policyholder account balances | ||||||||
| Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||||
| Valuation technique | Stochastic cash flow model | |||||||
| Derivative liabilities, fair value | [3] | $ 691 | $ 323 | |||||
| Fair value input, equity index volatility, lower limit | 22.00% | |||||||
| Fair value input, equity index volatility, upper limit | 35.00% | |||||||
| Fair value input, equity index volatility, weighted-average | [2] | 26.00% | ||||||
| ||||||||
Liabilities by Class of Instrument that are Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||
|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | $ 1,139 | $ 805 | ||
| Total liabilities | 1,139 | 805 | ||
| Other liabilities | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 14 | 11 | ||
| Other liabilities | Interest rate swaps | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 10 | |||
| Other liabilities | Other foreign currency contracts | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 14 | 1 | ||
| Policyholder account balances | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 1,125 | 794 | ||
| Policyholder account balances | GMWB embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | [1] | 691 | 323 | |
| Policyholder account balances | Fixed index annuity embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 413 | 452 | ||
| Policyholder account balances | Indexed universal life embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 21 | 19 | ||
| Level 1 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Total liabilities | 0 | 0 | ||
| Level 1 | Other liabilities | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 1 | Other liabilities | Interest rate swaps | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | |||
| Level 1 | Other liabilities | Other foreign currency contracts | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 1 | Policyholder account balances | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 1 | Policyholder account balances | GMWB embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | [1] | 0 | 0 | |
| Level 1 | Policyholder account balances | Fixed index annuity embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 1 | Policyholder account balances | Indexed universal life embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 2 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Total liabilities | 14 | 11 | ||
| Level 2 | Other liabilities | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 14 | 11 | ||
| Level 2 | Other liabilities | Interest rate swaps | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 10 | |||
| Level 2 | Other liabilities | Other foreign currency contracts | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 14 | 1 | ||
| Level 2 | Policyholder account balances | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 2 | Policyholder account balances | GMWB embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | [1] | 0 | 0 | |
| Level 2 | Policyholder account balances | Fixed index annuity embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 2 | Policyholder account balances | Indexed universal life embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Total liabilities | 1,125 | 794 | ||
| Level 3 | Other liabilities | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 3 | Other liabilities | Interest rate swaps | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | |||
| Level 3 | Other liabilities | Other foreign currency contracts | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 0 | 0 | ||
| Level 3 | Policyholder account balances | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 1,125 | 794 | ||
| Level 3 | Policyholder account balances | GMWB embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | [1] | 691 | 323 | |
| Level 3 | Policyholder account balances | Fixed index annuity embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | 413 | 452 | ||
| Level 3 | Policyholder account balances | Indexed universal life embedded derivatives | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Derivative liabilities, fair value | $ 21 | $ 19 | ||
| ||||
Liabilities Measured at Fair Value on Recurring Basis and Utilized Significant Unobservable (Level 3) Inputs to Determine Fair Value (Detail) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Beginning balance | $ 794 | $ 738 | ||
| Total realized and unrealized (gains) losses included in net (income) | 326 | (11) | ||
| Total realized and unrealized (gains) losses included in OCI | 0 | 0 | ||
| Purchases | 0 | 0 | ||
| Sales | 0 | 0 | ||
| Issuances | 12 | 8 | ||
| Settlements | (7) | (4) | ||
| Transfer into Level 3 | 0 | 0 | ||
| Transfer out of Level 3 | 0 | 0 | ||
| Ending balance | 1,125 | 731 | ||
| Total (gains) losses included in net (income) attributable to liabilities still held | 332 | (7) | ||
| Other Comprehensive Income (Loss) [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | 0 | |||
| Policyholder account balances | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Beginning balance | 794 | 738 | ||
| Total realized and unrealized (gains) losses included in net (income) | 326 | (11) | ||
| Total realized and unrealized (gains) losses included in OCI | 0 | 0 | ||
| Purchases | 0 | 0 | ||
| Sales | 0 | 0 | ||
| Issuances | 12 | 8 | ||
| Settlements | (7) | (4) | ||
| Transfer into Level 3 | 0 | 0 | ||
| Transfer out of Level 3 | 0 | 0 | ||
| Ending balance | 1,125 | 731 | ||
| Total (gains) losses included in net (income) attributable to liabilities still held | (7) | |||
| Policyholder account balances | Other Comprehensive Income (Loss) [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | 0 | |||
| Policyholder account balances | Net Income [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | 332 | |||
| Policyholder account balances | GMWB embedded derivatives | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Beginning balance | [1] | 323 | 337 | |
| Total realized and unrealized (gains) losses included in net (income) | [1] | 362 | (48) | |
| Total realized and unrealized (gains) losses included in OCI | [1] | 0 | 0 | |
| Purchases | [1] | 0 | 0 | |
| Sales | [1] | 0 | 0 | |
| Issuances | [1] | 6 | 6 | |
| Settlements | [1] | 0 | 0 | |
| Transfer into Level 3 | [1] | 0 | 0 | |
| Transfer out of Level 3 | [1] | 0 | 0 | |
| Ending balance | [1] | 691 | 295 | |
| Total (gains) losses included in net (income) attributable to liabilities still held | [1] | (44) | ||
| Policyholder account balances | GMWB embedded derivatives | Other Comprehensive Income (Loss) [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | [1] | 0 | ||
| Policyholder account balances | GMWB embedded derivatives | Net Income [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | [1] | 368 | ||
| Policyholder account balances | Fixed index annuity embedded derivatives | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Beginning balance | 452 | 389 | ||
| Total realized and unrealized (gains) losses included in net (income) | (32) | 38 | ||
| Total realized and unrealized (gains) losses included in OCI | 0 | 0 | ||
| Purchases | 0 | 0 | ||
| Sales | 0 | 0 | ||
| Issuances | 0 | 0 | ||
| Settlements | (7) | (4) | ||
| Transfer into Level 3 | 0 | 0 | ||
| Transfer out of Level 3 | 0 | 0 | ||
| Ending balance | 413 | 423 | ||
| Total (gains) losses included in net (income) attributable to liabilities still held | 38 | |||
| Policyholder account balances | Fixed index annuity embedded derivatives | Other Comprehensive Income (Loss) [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | 0 | |||
| Policyholder account balances | Fixed index annuity embedded derivatives | Net Income [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | (32) | |||
| Policyholder account balances | Indexed universal life embedded derivatives | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Beginning balance | 19 | 12 | ||
| Total realized and unrealized (gains) losses included in net (income) | (4) | (1) | ||
| Total realized and unrealized (gains) losses included in OCI | 0 | 0 | ||
| Purchases | 0 | 0 | ||
| Sales | 0 | 0 | ||
| Issuances | 6 | 2 | ||
| Settlements | 0 | 0 | ||
| Transfer into Level 3 | 0 | 0 | ||
| Transfer out of Level 3 | 0 | 0 | ||
| Ending balance | 21 | 13 | ||
| Total (gains) losses included in net (income) attributable to liabilities still held | $ (1) | |||
| Policyholder account balances | Indexed universal life embedded derivatives | Other Comprehensive Income (Loss) [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | 0 | |||
| Policyholder account balances | Indexed universal life embedded derivatives | Net Income [Member] | ||||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
| Total (gains) losses included in net (income) attributable to liabilities still held | $ (4) | |||
| ||||
Gains and Losses Included in Net (Income) from Liabilities Measured at Fair Value (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total realized and unrealized (gains) losses included in net (income) loss, liabilities | $ 326 | $ (11) |
| Total (gains) losses included in net (income) loss attributable to liabilities still held, liabilities | 332 | (7) |
| Net Investment Income | ||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total realized and unrealized (gains) losses included in net (income) loss, liabilities | 0 | 0 |
| Total (gains) losses included in net (income) loss attributable to liabilities still held, liabilities | 0 | 0 |
| Net investment (gains) losses | ||
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
| Total realized and unrealized (gains) losses included in net (income) loss, liabilities | 326 | (11) |
| Total (gains) losses included in net (income) loss attributable to liabilities still held, liabilities | $ 332 | $ (7) |
Changes in Liability for Policy and Contract Claims (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] | ||
| Beginning balance | $ 10,958 | |
| Ending balance | 11,132 | |
| Long-term Care Insurance | ||
| Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward] | ||
| Beginning balance | 10,958 | $ 10,295 |
| Less reinsurance recoverables | (2,406) | (2,379) |
| Net beginning balance | 8,552 | 7,916 |
| Current year | 1,028 | 962 |
| Prior years | (105) | (77) |
| Total incurred | 923 | 885 |
| Current year | (129) | (162) |
| Prior years | (728) | (660) |
| Total paid | (857) | (822) |
| Interest on liability for policy and contract claims | 102 | 93 |
| Foreign currency translation | (29) | 1 |
| Net ending balance | 8,691 | 8,073 |
| Add reinsurance recoverables | 2,441 | 2,375 |
| Ending balance | $ 11,132 | $ 10,448 |
Liability for Policy and Contract Claims - Additional Information (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Long-term Care Insurance | ||
| Liability for Claims and Claims Adjustment Expense [Line Items] | ||
| Incurred related to insured events of prior year | $ (105) | $ (77) |
Reinsurance - Additional Information (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Dec. 31, 2019 |
|
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ||
| Reinsurance recoverable | $ 17,080 | $ 17,103 |
| Reinsurance Recoverable, Past Due | 0 | |
| Scottish RE Group Limited | ||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ||
| Reinsurance Recoverable, Past Due | $ 11 | |
| Union Fidelity Life Insurance Company | ||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ||
| Minimum amount of risk-based capital General Electric Company agreed to maintain in UFLIC | 150.00% | |
| Union Fidelity Life Insurance Company | Ceded Credit Risk | ||
| Reinsurance Premiums for Insurance Companies, by Product Segment [Line Items] | ||
| Reinsurance recoverable | $ 13,718 | $ 13,752 |
Reinsurance - Schedule of Reinsurance Recoverable in Allowance for Credit Losses (Detail) $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2020
USD ($)
| |
| Beginning balance | $ 0 |
| Cumulative effect of change in accounting | 40 |
| Provision | 2 |
| Write-offs | 0 |
| Recoveries | 0 |
| Ending balance | $ 42 |
Reinsurance - Schedule Of Credit Ratings on Reinsurance Recoverable (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Reinsurance recoverable | $ 17,122 | $ 17,103 |
| A++ | ||
| Reinsurance recoverable | 503 | |
| A+ | ||
| Reinsurance recoverable | 2,734 | |
| A | ||
| Reinsurance recoverable | 76 | |
| A- | ||
| Reinsurance recoverable | 1 | |
| B+ | ||
| Reinsurance recoverable | 3 | |
| Non rated | ||
| Reinsurance recoverable | 13,805 | |
| Collateralized | ||
| Reinsurance recoverable | 15,038 | |
| Collateralized | A++ | ||
| Reinsurance recoverable | 0 | |
| Collateralized | A+ | ||
| Reinsurance recoverable | 1,296 | |
| Collateralized | A | ||
| Reinsurance recoverable | 20 | |
| Collateralized | A- | ||
| Reinsurance recoverable | 0 | |
| Collateralized | B+ | ||
| Reinsurance recoverable | 0 | |
| Collateralized | Non rated | ||
| Reinsurance recoverable | 13,722 | |
| Non-collateralized | ||
| Reinsurance recoverable | 2,084 | |
| Non-collateralized | A++ | ||
| Reinsurance recoverable | 503 | |
| Non-collateralized | A+ | ||
| Reinsurance recoverable | 1,438 | |
| Non-collateralized | A | ||
| Reinsurance recoverable | 56 | |
| Non-collateralized | A- | ||
| Reinsurance recoverable | 1 | |
| Non-collateralized | B+ | ||
| Reinsurance recoverable | 3 | |
| Non-collateralized | Non rated | ||
| Reinsurance recoverable | $ 83 |
Borrowings - Long Term Borrowings (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
||||
|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||||
| Total | [1] | $ 2,851 | $ 3,277 | |||
| Genworth Holdings | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 2,763 | 3,174 | |||
| Bond consent fees | [2] | (23) | (25) | |||
| Deferred borrowing charges | [2] | (11) | (12) | |||
| Total | [2] | 2,729 | 3,137 | |||
| Genworth Holdings | 7.70% Senior Notes, Due 2020 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 0 | 397 | |||
| Genworth Holdings | 7.20% Senior Notes, Due 2021 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 378 | 382 | |||
| Genworth Holdings | 7.625% Senior Notes, Due 2021 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 691 | 701 | |||
| Genworth Holdings | 4.90% Senior Notes, Due 2023 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 399 | 399 | |||
| Genworth Holdings | 4.80% Senior Notes, Due 2024 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 400 | 400 | |||
| Genworth Holdings | 6.50% Senior Notes, Due 2034 | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 297 | 297 | |||
| Genworth Holdings | Floating Rate Junior Subordinated Notes, due 2066 [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [2] | 598 | 598 | |||
| Genworth Financial Mortgage Insurance Pty Limited | ||||||
| Debt Instrument [Line Items] | ||||||
| Total | [1] | 122 | 140 | |||
| Genworth Financial Mortgage Insurance Pty Limited | Floating Rate Junior Subordinated Notes, due 2025 [Member] | ||||||
| Debt Instrument [Line Items] | ||||||
| Long-term borrowings | [1] | $ 122 | $ 140 | |||
| ||||||
Borrowings - Additional Information (Detail) - USD ($) $ in Millions |
1 Months Ended | 3 Months Ended | |||||
|---|---|---|---|---|---|---|---|
Apr. 30, 2020 |
Jan. 21, 2020 |
Apr. 30, 2020 |
Mar. 31, 2020 |
Jan. 31, 2020 |
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Pre-tax gain (loss) on repurchase of senior notes | $ (12) | $ 0 | |||||
| Non-Recourse Funding Obligations | Floating Rate Subordinated Notes Due in 2050 | |||||||
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Pre-tax gain (loss) on repurchase of senior notes | $ (4) | ||||||
| Debt instrument, maturity year | 2050 | ||||||
| Genworth Holdings | |||||||
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Debt instrument, maturity month and year | 2020-06 | ||||||
| Pre-tax make-whole expense on redemption of senior notes | $ 9 | ||||||
| Genworth Holdings | 7.70% Senior Notes, Due 2020 | |||||||
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Interest rate | 7.70% | ||||||
| Debt instrument, maturity month and year | 2020-06 | ||||||
| Early redemption of senior notes | $ 409 | ||||||
| Pre-tax make-whole expense on redemption of senior notes | 9 | ||||||
| Pre-tax gain (loss) on repurchase of senior notes | $ 9 | ||||||
| Debt instrument, maturity year | 2020 | ||||||
| Aggregate principal amount of notes repurchased | $ 397 | ||||||
| Interest paid | 3 | ||||||
| Early redemption of senior notes, principal amount | $ 397 | ||||||
| Genworth Holdings | Senior Notes 2021 | |||||||
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Pre-tax gain (loss) on repurchase of senior notes | $ 1 | ||||||
| Debt instrument, maturity year | 2021 | 2021 | |||||
| Aggregate principal amount of notes repurchased | $ 14 | $ 14 | |||||
| Genworth Holdings | Senior Notes 2021 | Subsequent Event | |||||||
| Nonrecourse Funding Obligations [Line Items] | |||||||
| Pre-tax gain (loss) on repurchase of senior notes | $ 2 | ||||||
| Debt instrument, maturity year | 2021 | ||||||
| Aggregate principal amount of notes repurchased | $ 36 | $ 36 | |||||
Reconciliation of Federal Statutory Tax Rate to Effective Income Tax Rate (Detail) |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||
| Income Tax Examination [Line Items] | ||||
| Statutory U.S. federal income tax rate | 21.00% | 21.00% | ||
| Effect of foreign operations | 0.80% | 4.10% | ||
| Swaps terminated prior to the TCJA | [1] | (6.70%) | 4.60% | |
| Stock-based compensation | (2.10%) | 0.00% | ||
| Nondeductible expenses | (1.10%) | 0.00% | ||
| Other, net | 0.30% | (0.60%) | ||
| Effective rate | 12.20% | 29.10% | ||
| ||||
Segment Information - Additional Information (Detail) $ in Millions |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
|
Mar. 31, 2020
USD ($)
|
Jan. 31, 2020
USD ($)
|
Mar. 31, 2020
USD ($)
Segment
|
Mar. 31, 2019
USD ($)
|
|
| Segment Reporting Information [Line Items] | ||||
| Number of operating segments | Segment | 4 | |||
| Assumed tax rate on adjustments to adjusted operating income | 21.00% | |||
| Expenses related to restructuring | $ 1 | $ 4 | ||
| pre-tax loss | $ (12) | $ 0 | ||
| Floating Rate Subordinated Notes Due in 2050 | Non-Recourse Funding Obligations | ||||
| Segment Reporting Information [Line Items] | ||||
| pre-tax loss | $ (4) | |||
| Redemption of secured debt | $ 315 | |||
| Debt instrument, maturity year | 2050 | |||
| Segment, Continuing Operations | Australia Mortgage Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Assumed tax rate on adjustments to adjusted operating income | 30.00% | |||
| Genworth Holdings | ||||
| Segment Reporting Information [Line Items] | ||||
| Pre-tax make-whole expense | $ 9 | |||
| Debt instrument, maturity month and year | 2020-06 | |||
| Genworth Holdings | Senior Notes 2021 | ||||
| Segment Reporting Information [Line Items] | ||||
| pre-tax loss | $ 1 | |||
| Aggregate principal amount of notes repurchased | $ 14 | $ 14 | ||
| Debt instrument, maturity year | 2021 | 2021 | ||
Summary of Revenues for Segments and Corporate and Other Activities (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Segment Reporting Information [Line Items] | ||
| Revenues | $ 1,837 | $ 2,044 |
| Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 1,837 | 2,044 |
| Segment, Continuing Operations | U.S. Mortgage Insurance | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 261 | 223 |
| Segment, Continuing Operations | Australia Mortgage Insurance | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 27 | 110 |
| Segment, Continuing Operations | Long-term Care Insurance | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 1,006 | 1,114 |
| Segment, Continuing Operations | Life Insurance | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 348 | 372 |
| Segment, Continuing Operations | Fixed Annuities | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 133 | 159 |
| Segment, Continuing Operations | U.S. Life Insurance | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 1,487 | 1,645 |
| Segment, Continuing Operations | Runoff | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | 7 | 82 |
| Segment, Continuing Operations | Corporate and Other | ||
| Segment Reporting Information [Line Items] | ||
| Revenues | $ 55 | $ (16) |
Summary of Net Operating Income (Loss) for Segments and Corporate and Other Activities (Detail) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||
| Segment Reporting Information [Line Items] | ||||
| Net income (loss) available to Genworth Financial, Inc.'s common stockholders | $ (66) | $ 174 | ||
| Add: net income (loss) from continuing operations attributable to noncontrolling interests | (6) | 20 | ||
| Add: net income from discontinued operations attributable to noncontrolling interests | 0 | 36 | ||
| Net income (loss) | (72) | 230 | ||
| Less: income from discontinued operations, net of taxes | 0 | 62 | ||
| (Income) loss from continuing operations | 72 | (168) | ||
| Less: net income (loss) from continuing operations attributable to noncontrolling interests | (6) | 20 | ||
| Income (loss) from continuing operations available to Genworth Financial, Inc.'s common stockholders | (66) | 148 | ||
| Net investment (gains) losses, net | [1] | 115 | (71) | |
| Losses on early extinguishment of debt | 12 | 0 | ||
| Expenses related to restructuring | 1 | 4 | ||
| Taxes on adjustments | (29) | 14 | ||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | 33 | 95 | ||
| Segment, Continuing Operations | ||||
| Segment Reporting Information [Line Items] | ||||
| Net income (loss) | (72) | 230 | ||
| (Income) loss from continuing operations | (72) | 168 | ||
| Segment, Continuing Operations | U.S. Mortgage Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | 148 | 124 | ||
| Segment, Continuing Operations | Australia Mortgage Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | 9 | 14 | ||
| Segment, Continuing Operations | Long-term Care Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | 1 | (20) | ||
| Segment, Continuing Operations | Life Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | (77) | (2) | ||
| Segment, Continuing Operations | Fixed Annuities | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | 6 | 17 | ||
| Segment, Continuing Operations | U.S. Life Insurance | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | (70) | (5) | ||
| Segment, Continuing Operations | Runoff | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | (13) | 20 | ||
| Segment, Continuing Operations | Corporate and Other | ||||
| Segment Reporting Information [Line Items] | ||||
| Adjusted operating income available to Genworth Financial, Inc.'s common stockholders | $ (41) | $ (58) | ||
| ||||
Summary of Net Operating Income (Loss) for Segments and Corporate and Other Activities (Parenthetical) (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Segment Reporting Information [Line Items] | ||
| Adjustment for DAC and other intangibles and certain benefit reserves | $ (11) | $ (2) |
| Adjustment for portion attributable to noncontrolling interests | $ (26) | $ 6 |
Summary of Segments and Corporate and Other Activities (Detail) - USD ($) $ in Millions |
Mar. 31, 2020 |
Dec. 31, 2019 |
|---|---|---|
| Segment Reporting Information [Line Items] | ||
| Total assets | $ 98,844 | $ 101,342 |
| Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 98,844 | 101,342 |
| U.S. Mortgage Insurance | Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 4,542 | 4,504 |
| Australia Mortgage Insurance | Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 2,146 | 2,406 |
| U.S. Life Insurance | Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 80,564 | 81,640 |
| Runoff | Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 9,502 | 9,953 |
| Corporate and Other | Segment, Continuing Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | $ 2,090 | $ 2,839 |
Commitments and Contingencies - Additional Information (Detail) £ in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 31, 2020
USD ($)
|
Sep. 11, 2019
USD ($)
|
Feb. 25, 2019
GBP (£)
|
Nov. 15, 2018
GBP (£)
|
Dec. 01, 2017
GBP (£)
|
Apr. 30, 2020
USD ($)
|
Jan. 31, 2020
GBP (£)
|
Jan. 31, 2020
USD ($)
|
Jan. 31, 2019
USD ($)
|
Dec. 31, 2018
Company
|
Mar. 31, 2020
GBP (£)
|
Dec. 31, 2019
USD ($)
|
Mar. 31, 2020
USD ($)
|
|
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||
| Number of insurance company sold | Company | 2 | ||||||||||||
| Commitment to fund limited partnership investments | $ 1,018 | ||||||||||||
| Commitment to fund U.S. commercial mortgage loan investments | 113 | ||||||||||||
| Commitment to fund private placement investments | 9 | ||||||||||||
| Loss Contingency, Damages Sought | $ 5 | ||||||||||||
| Loss contingencies actions by plaintiff | On September 11, 2019, plaintiffs filed a renewed motion seeking the same relief from their August 7, 2019 motion with an exception that allowed GFIH to transfer $450 million of expected proceeds from the sale of Genworth Canada through a dividend to Genworth Holdings to allow the pay off of a senior secured term loan facility dated March 7, 2018 among Genworth Holdings as the borrower, GFIH as the limited guarantor and the lending parties thereto. Oral arguments on our motion to dismiss and plaintiffs’ motion occurred on October 21, 2019, and plaintiffs’ motion was denied. On January 31, 2020, the Court granted in part our motion to dismiss, dismissing claims relating to $395 million in dividends GLIC paid to its parent from 2012 to 2014 (out of the $410 million in total dividends subject to plaintiffs’ claims). The Court denied the balance of the motion to dismiss leaving a claim relating to $15 million in dividends and unquantified claims relating to the 2016 termination of a reinsurance transaction. On March 27, 2020, we filed our answer to plaintiffs’ amended complaint. We intend to continue to vigorously defend this action. | ||||||||||||
| AXA Damages Hearing | |||||||||||||
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||
| Loss Contingency, Damages Sought | £ | £ 265 | £ 237 | £ 28 | ||||||||||
| Restricted cash proceeds on sale per litigation | $ 450 | ||||||||||||
| Percentage of losses sought as claims | 90.00% | ||||||||||||
| Payments for accruals | £ 100 | $ 134 | |||||||||||
| Aggregate losses sought as claims | £ | £ 489 | ||||||||||||
| Damages sought, tax gross up amount | £ | £ 115 | ||||||||||||
| Other Litigation | |||||||||||||
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||
| Plaintiff's Motion Dismissed | $ 395 | ||||||||||||
| Plaintiffs' motion | $ 15 | $ 410 | |||||||||||
| Subsequent Event | |||||||||||||
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||
| Loss Contingency, Damages Sought | $ 5 | ||||||||||||
| Notional amount | |||||||||||||
| Commitments and Contingencies Disclosure [Line Items] | |||||||||||||
| Commitment to fund bank loan investments | $ 52 | $ 29 | |||||||||||
Component of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | $ 3,433 | $ 2,044 | ||||
| OCI before reclassifications | 371 | 578 | ||||
| Amounts reclassified from (to) OCI | (36) | (75) | ||||
| Total other comprehensive income (loss) | 335 | 503 | ||||
| Balances before nonnontrolling interests | 3,768 | 2,547 | ||||
| Less: change in OCI attributable to noncontrolling interests | (47) | 55 | ||||
| Ending balance | 3,815 | 2,492 | ||||
| Net unrealized investment (gains) losses | ||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | [1] | 1,456 | 595 | |||
| OCI before reclassifications | [1] | (314) | 427 | |||
| Amounts reclassified from (to) OCI | [1] | (6) | (47) | |||
| Total other comprehensive income (loss) | [1] | (320) | 380 | |||
| Balances before nonnontrolling interests | [1] | 1,136 | 975 | |||
| Less: change in OCI attributable to noncontrolling interests | [1] | (4) | 32 | |||
| Ending balance | [1] | 1,140 | 943 | |||
| Derivatives qualifying as hedges | ||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | [2] | 2,002 | 1,781 | |||
| OCI before reclassifications | [2] | 783 | 97 | |||
| Amounts reclassified from (to) OCI | [2] | (30) | (28) | |||
| Total other comprehensive income (loss) | [2] | 753 | 69 | |||
| Balances before nonnontrolling interests | [2] | 2,755 | 1,850 | |||
| Less: change in OCI attributable to noncontrolling interests | [2] | 0 | 0 | |||
| Ending balance | [2] | 2,755 | 1,850 | |||
| Foreign currency translation and other adjustments | ||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | (25) | (332) | ||||
| OCI before reclassifications | (98) | 54 | ||||
| Amounts reclassified from (to) OCI | 0 | 0 | ||||
| Total other comprehensive income (loss) | (98) | 54 | ||||
| Balances before nonnontrolling interests | (123) | (278) | ||||
| Less: change in OCI attributable to noncontrolling interests | (43) | 23 | ||||
| Ending balance | $ (80) | $ (301) | ||||
| ||||||
Changes In Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Unrecognized postretirement benefit obligation, current period OCI | $ (2) | |
| Unrecognized postretirement benefit obligation, current period OCI, tax | 1 | |
| Foreign currency translation and other adjustments, current period OCI, tax | $ 23 | $ (45) |
Reclassifications In (Out) of Accumulated Other Comprehensive Income (Loss), Net of Taxes (Detail) - USD ($) $ in Millions |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Net investment income | $ (793) | $ (794) | ||
| Net investment (gains) losses | 152 | (75) | ||
| Provision for income taxes | (10) | 69 | ||
| (Income) loss from continuing operations | 72 | (168) | ||
| Amount reclassified from accumulated other comprehensive income (loss) | Net unrealized investment (gains) losses | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Net investment (gains) losses | [1] | (7) | (60) | |
| Provision for income taxes | 1 | 13 | ||
| (Income) loss from continuing operations | (6) | (47) | ||
| Amount reclassified from accumulated other comprehensive income (loss) | Derivatives qualifying as hedges | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Provision for income taxes | 17 | 16 | ||
| (Income) loss from continuing operations | (30) | (28) | ||
| Amount reclassified from accumulated other comprehensive income (loss) | Derivatives qualifying as hedges | Interest rate swaps | ||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
| Net investment income | (43) | (38) | ||
| Net investment (gains) losses | $ (4) | $ (6) | ||
| ||||
Summary of Operating Results Related to Genworth Canada reported as Discontinued Operations (Detail) - USD ($) $ in Millions |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2020 |
Mar. 31, 2019 |
|||||
| Revenues: | ||||||
| Premiums | $ 1,015 | $ 988 | ||||
| Net investment income | 793 | 794 | ||||
| Net investment gains (losses) | (152) | 75 | ||||
| Benefits and expenses: | ||||||
| Benefits and other changes in policy reserves | 1,361 | 1,282 | ||||
| Acquisition and operating expenses, net of deferrals | 249 | 237 | ||||
| Amortization of deferred acquisition costs and intangibles | 116 | 81 | ||||
| Total benefits and expenses | 1,919 | 1,807 | ||||
| Income from discontinued operations, net of taxes | 0 | 62 | ||||
| Less: net income from discontinued operations attributable to noncontrolling interests | 0 | 36 | ||||
| Income from discontinued operations available to Genworth Financial, Inc.'s common stockholders | $ 0 | 26 | ||||
| Assets Held For Sale Related To Discontinued Operations | Canada Mortgage Insurance | ||||||
| Revenues: | ||||||
| Premiums | 126 | |||||
| Net investment income | 35 | |||||
| Net investment gains (losses) | (1) | |||||
| Total revenues | 160 | |||||
| Benefits and expenses: | ||||||
| Benefits and other changes in policy reserves | 19 | |||||
| Acquisition and operating expenses, net of deferrals | 14 | |||||
| Amortization of deferred acquisition costs and intangibles | 10 | |||||
| Interest expense | [1] | 12 | ||||
| Total benefits and expenses | 55 | |||||
| Income before income taxes | [2] | 105 | ||||
| Provision for income taxes | 43 | |||||
| Income from discontinued operations, net of taxes | 62 | |||||
| Less: net income from discontinued operations attributable to noncontrolling interests | 36 | |||||
| Income from discontinued operations available to Genworth Financial, Inc.'s common stockholders | $ 26 | |||||
| ||||||
Summary of Operating Results Related to Genworth Canada reported as Discontinued Operations (Parenthetical) (Detail) $ in Millions |
3 Months Ended |
|---|---|
|
Mar. 31, 2019
USD ($)
| |
| Parent Company [Member] | |
| Discontinued operation pretax income attributable to parent | $ 56 |
| Genworth Canada MI [Member] | |
| Interest expense-term loan | $ 8 |
Discontinued Operations - Additional Information (Detail) - USD ($) $ in Millions |
1 Months Ended | |
|---|---|---|
Jan. 31, 2020 |
Dec. 12, 2019 |
|
| AXA Damages Hearing | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Payments for accruals | $ 134 | |
| Genworth Canada MI | ||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Net cash proceeds | $ 1,700 |