Athene Holding (ATH-PD) 10-K 19 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Incorporation, State or Country Code	D0
Entity Registrant Name	ATHENE HOLDING LTD
Entity Address, Address Line One	Second Floor, Washington House
Entity Address, City or Town	Hamilton
Entity Address, Postal Zip Code	HM 11
Entity Address, Country	BM
City Area Code	441
Local Phone Number	279-8400
Entity Interactive Data Current	Yes
Entity Central Index Key	0001527469
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-37963
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Shell Company	false
Entity Public Float			$ 6
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		191,613,948
Entity Tax Identification Number	98-0630022
Documents Incorporated by Reference [Text Block]	Part III of this Form 10-K incorporates by reference certain information from the registrant’s definitive proxy statement for the 2021 Annual General Meeting of Shareholders to be filed by the registrant with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the year ended December 31, 2020.
ICFR Auditor Attestation Flag	true
Entity Address, Address Line Two	16 Church Street
Class A
Document Information [Line Items]
Title of 12(b) Security	Class A common shares, par value $0.001 per share
Trading Symbol	ATH
Security Exchange Name	NYSE
Series A Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Share, Series A
Trading Symbol	ATHPrA
Security Exchange Name	NYSE
Series B Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	5.625% Fixed-Rate Perpetual Non-Cumulative Preference Share, Series B
Trading Symbol	ATHPrB
Security Exchange Name	NYSE
Series C Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Share, Series C
Trading Symbol	ATHPrC
Security Exchange Name	NYSE
Series D Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	4.875% Fixed-Rate Perpetual Non-Cumulative Preference Share, Series D
Trading Symbol	ATHPrD
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Fair Value	$ 89,373	$ 75,178
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,938	14,959
Investment funds	6,087	4,300
Gross amount recognized	3,523	2,888
Cash and Cash Equivalents, at Carrying Value	7,704	4,240
Restricted Cash and Cash Equivalents	738	402
Accrued Investment Income Receivable	905	807
Reinsurance recoverable	4,848	4,863
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	4,906	5,008
Other assets (liabilities), net	1,249	1,005
Assets, Total	202,771	146,875
Liabilities
Interest sensitive contract liabilities	144,566	102,745
Future policy benefits	29,258	23,330
Other Policyholder Funds	130	138
Policyholder Dividends Payable	110	113
Short-term Debt	0	475
Long-term Debt	1,976	992
Derivative liabilities	298	97
Investment-related Liabilities	3,801	3,255
Funds withheld liability	452	408
Other Liabilities	2,040	1,181
Liabilities, Total	182,631	132,734
Commitments and Contingencies (Note 15)
Equity
Additional Paid in Capital	6,613	4,171
Retained Earnings (Accumulated Deficit)	8,073	6,939
Accumulated other comprehensive income (loss)	3,971	2,281
Stockholders' Equity Attributable to Parent, Total	18,657	13,391
Stockholders' Equity Attributable to Noncontrolling Interest	1,483	750
Equity	20,140	14,141
Liabilities and Equity, Total	202,771	146,875
Investments, excluding investments in related party
Assets
Fair Value	82,853	71,374
Trading securities	2,093	2,070
Equity Securities, FV-NI and without Readily Determinable Fair Value	532	247
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,264	14,306
Investment funds	803	750
Policy loans	369	417
Funds withheld at interest	48,612	15,181
Gross amount recognized	3,523	2,888
Short-term investments, at fair value	222	596
Other investments	572	158
Investments, excluding policy loans	154,843	107,987
Related Party
Assets
Fair Value	6,520	3,804
Trading securities	1,529	785
Equity securities	72	64
Mortgage Loans on Real Estate, Commercial and Consumer, Net	674	653
Investment funds	5,284	3,550
Funds withheld at interest	13,030	13,220
Other investments	469	487
Accrued Investment Income Receivable	38	27
Liabilities
Interest sensitive contract liabilities	14,150	15,285
Future policy benefits	1,610	1,302
Other Policyholder Funds	2	13
Other Liabilities	112	79
Equity
Accumulated other comprehensive income (loss)	59	17
Series A Preferred Stock [Member]
Equity
Preferred Stock, Value, Outstanding	0	0
Series B Preferred Stock [Member]
Equity
Preferred Stock, Value, Outstanding	0	0
Series C Preferred Stock [Member]
Equity
Preferred Stock, Value, Outstanding	0	0
Series D Preferred Stock
Equity
Preferred Stock, Value, Outstanding	0	0
Class A
Equity
Common Stock, Value, Issued	0	0
Class B
Equity
Common Stock, Value, Issued	0	0
Class M-1
Equity
Common Stock, Value, Issued	0	0
Class M-2
Equity
Common Stock, Value, Issued	0	0
Class M-3
Equity
Common Stock, Value, Issued	0	0
Class M-4
Equity
Common Stock, Value, Issued	$ 0	$ 0

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 104
Debt Securities, Available-for-sale, Amortized Cost	82,544	$ 71,262
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,938	14,959
Financing Receivable, Allowance for Credit Loss	253	11
Investment funds	6,087	4,300
Cash and Cash Equivalents, at Carrying Value	7,704	4,240
Accrued Investment Income Receivable	905	807
Reinsurance recoverable	4,848	4,863
Other assets (liabilities), net	1,249	1,005
Interest sensitive contract liabilities	144,566	102,745
Future policy benefits	29,258	23,330
Other Policyholder Funds	130	138
Funds withheld liability	452	408
Other Liabilities	2,040	1,181
Accumulated other comprehensive income (loss)	3,971	2,281
Investments, excluding investments in related party
Debt Securities, Available-for-sale, Allowance for Credit Loss	103
Debt Securities, Available-for-sale, Amortized Cost	76,100	67,479
Trading securities	2,093	2,070
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,264	14,306
Financing Receivable, Allowance for Credit Loss	232	11
Investment funds	803	750
Investment funds	161	154
Funds withheld at interest	48,612	15,181
Short-term investments, at fair value	222	596
Other investments	572	$ 158
Other Investments, Allowance for Credit Loss	$ 3
Series A Preferred Stock [Member]
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 863	$ 863
Series B Preferred Stock [Member]
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 345	$ 345
Series C Preferred Stock [Member]
Preferred Stock, Shares Issued	24,000
Preferred Stock, Shares Authorized	24,000
Preferred Stock, Shares Outstanding	24,000
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Liquidation Preference, Value	$ 600
Series D Preferred Stock
Preferred Stock, Shares Issued	23,000
Preferred Stock, Shares Authorized	23,000
Preferred Stock, Shares Outstanding	23,000
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Liquidation Preference, Value	$ 575
Class A
Common stock outstanding (in shares)	191,500,000	143,200,000
Common stock issued (in shares)	191,500,000	143,200,000
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock authorized (in shares)	425,000,000	425,000,000
Class B
Common stock outstanding (in shares)	0	25,400,000
Common stock issued (in shares)	0	25,400,000
Common stock, par value (in USD per share)		$ 0.001
Common stock authorized (in shares)	0	325,000,000
Class M-1
Common stock outstanding (in shares)	0	3,300,000
Common stock issued (in shares)	0	3,300,000
Common stock, par value (in USD per share)		$ 0.001
Common stock authorized (in shares)	0	7,100,000
Class M-2
Common stock outstanding (in shares)	0	800,000
Common stock issued (in shares)	0	800,000
Common stock, par value (in USD per share)		$ 0.001
Common stock authorized (in shares)	0	5,000,000
Class M-3
Common stock outstanding (in shares)	0	1,000,000
Common stock issued (in shares)	0	1,000,000
Common stock, par value (in USD per share)		$ 0.001
Common stock authorized (in shares)	0	7,500,000
Class M-4
Common stock outstanding (in shares)	0	4,000,000
Common stock issued (in shares)	0	4,000,000
Common stock, par value (in USD per share)		$ 0.001
Common stock authorized (in shares)	0	7,500,000
Related Party
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 1
Debt Securities, Available-for-sale, Amortized Cost	6,444	$ 3,783
Trading securities	1,529	785
Equity securities	72	64
Mortgage Loans on Real Estate, Commercial and Consumer, Net	674	653
Financing Receivable, Allowance for Credit Loss	14	0
Investment funds	5,284	3,550
Investment funds	2,119	819
Funds withheld at interest	13,030	13,220
Other investments	469	487
Other Investments, Allowance for Credit Loss	4
Accrued Investment Income Receivable	38	27
Interest sensitive contract liabilities	14,150	15,285
Future policy benefits	1,610	1,302
Other Policyholder Funds	2	13
Other Liabilities	112	79
Accumulated other comprehensive income (loss)	59	17
Fair Value
Interest sensitive contract liabilities	98,945	58,027
Funds withheld liability	393	377
Fair Value | Investments, excluding investments in related party
Mortgage Loans on Real Estate, Commercial and Consumer, Net	15,811	14,719
Investment funds	642	596
Funds withheld at interest	46,668	14,380
Short-term investments, at fair value		190
Other investments	471	65
Fair Value | Related Party
Mortgage Loans on Real Estate, Commercial and Consumer, Net	694	641
Investment funds	3,165	2,731
Funds withheld at interest	12,168	12,626
Other investments	499	537
Fair Value | Recurring
Reinsurance recoverable	2,100	1,821
Interest sensitive contract liabilities	14,181	11,992
Future policy benefits	2,376	2,301
Funds withheld liability	59	31
Fair Value | Recurring | Investments, excluding investments in related party
Trading securities	2,093	2,070
Equity securities	330	247
Mortgage Loans on Real Estate, Commercial and Consumer, Net	19	27
Investment funds	161	154
Funds withheld at interest	1,944	801
Short-term investments, at fair value	222	406
Other investments	105	93
Fair Value | Recurring | Related Party
Trading securities	1,529	785
Equity securities	72	64
Investment funds	2,119	819
Funds withheld at interest	862	594
Variable Interest Entities
Trading securities	0	16
Mortgage Loans on Real Estate, Commercial and Consumer, Net	1,880	0
Investment funds	0	19
Cash and Cash Equivalents, at Carrying Value	0	3
Other assets (liabilities), net	1	20
Other Liabilities	134	0
Variable Interest Entities | Related Party
Equity securities	0	6
Investment funds	$ 0	$ 664

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues [Abstract]
Net investment income	$ 4,885	$ 4,596	$ 4,060
Other Income	36	37	26
Revenues, Total	14,764	16,258	6,637
Premiums Earned, Net	5,963	6,382	3,462
Insurance Commissions and Fees	571	524	449
Gain (Loss) on Investments	3,309	4,719	(1,360)
Benefits, Losses and Expenses [Abstract]
Interest Sensitive Contract Benefits Expense	3,891	4,557	290
Deferred Sales Inducement Cost, Amortization Expense	66	74	54
Policyholder Benefits and Claims Incurred, Net	7,187	7,587	4,281
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization	521	958	174
Policyholder Dividends, Expense	38	36	37
Other Cost and Expense, Operating	855	744	626
Benefits, Losses and Expenses, Total	12,558	13,956	5,462
Income before income taxes	2,206	2,302	1,175
Income tax expense	285	117	122
Net income	1,921	2,185	1,053
Less: Net income attributable to noncontrolling interests	380	13	0
Net income available to Athene Holding Ltd. shareholders	1,541	2,172	1,053
Less: Preferred stock dividends	95	36	0
Net Income (Loss) Available to Common Stockholders, Basic	(1,446)	(2,136)	(1,053)
Class A
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ (1,573)	$ (1,760)	$ (857)
Earnings (loss) per share
Basic (in USD per share)	$ 8.51	$ 11.44	$ 5.34
Diluted (in USD per share)	$ 8.34	$ 11.41	$ 5.32
Class B
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 98	$ (291)	$ (157)
Earnings (loss) per share
Basic (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Class M-1
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 13	$ (38)	$ (18)
Earnings (loss) per share
Basic (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Class M-2
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 3	$ (10)	$ (5)
Earnings (loss) per share
Basic (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)	$ (3.87)	$ 11.44	$ 5.31
Class M-3
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 4	$ (11)	$ (5)
Earnings (loss) per share
Basic (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)	$ (3.87)	$ 11.44	$ 5.31
Class M-4
Benefits, Losses and Expenses [Abstract]
Net Income (Loss) Available to Common Stockholders, Basic	$ 9	$ (26)	$ (11)
Earnings (loss) per share
Basic (in USD per share)	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)	$ (3.87)	$ 9.94	$ 4.11

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premiums	$ 5,963	$ 6,382	$ 3,462
Product charges	571	524	449
Investment income	5,389	5,031	4,415
Investment expense	504	435	355
Gain (Loss) on Investments	3,309	4,719	(1,360)
Interest Sensitive Contract Benefits Expense	3,891	4,557	290
Future policy and other policy benefits	7,187	7,587	4,281
Net investment income	4,885	4,596	4,060
Policy and other operating expenses	855	744	626
Related Party
Premiums	322	243	679
Product charges	51	54	34
Investment income	1,101	779	594
Investment expense	490	426	349
Gain (Loss) on Investments	702	1,009	(98)
Interest Sensitive Contract Benefits Expense	295	511	63
Future policy and other policy benefits	405	365	707
Policy and other operating expenses	53	45	42
Variable Interest Entities
Gain (Loss) on Investments	22	5	(18)
Net investment income	$ 51	$ 74	$ 56

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 1,921	$ 2,185	$ 1,053
Other comprehensive income (loss), before tax
Unrealized investment gains (losses) on available-for-sale securities, net of offsets	2,358	3,438	(2,448)
Unrealized gains (losses) on hedging instruments	(106)	29	146
Foreign currency translation and other adjustments	18	1	(8)
Other comprehensive income (loss), before tax	2,270	3,468	(2,310)
Income tax expense (benefit) related to other comprehensive income (loss)	413	698	(431)
Other comprehensive income	1,857	2,770	(1,879)
Comprehensive income (loss)	3,778	4,955	(826)
Less: Comprehensive income (loss) attributable to noncontrolling interests	541	(4)	0
Comprehensive income (loss) available to Athene Holding Ltd. shareholders	$ 3,237	$ 4,959	$ (826)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common stock	Additional paid-in capital	Retained earnings	Retained earningsCumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss)Cumulative Effect, Period of Adoption, Adjustment	Total Athene Holding Ltd. shareholders’ equity	Total Athene Holding Ltd. shareholders’ equityCumulative Effect, Period of Adoption, Adjustment	Noncontrolling interests	Noncontrolling interestsCumulative Effect, Period of Adoption, Adjustment	Preferred stock	Preferred stock	Preferred stockAdditional paid-in capital	Preferred stockTotal Athene Holding Ltd. shareholders’ equity	Common stock	Common stockAdditional paid-in capital	Common stockTotal Athene Holding Ltd. shareholders’ equity
Beginning Balance at Dec. 31, 2017	$ 9,176	$ (3)	$ 0	$ 3,472	$ 4,255	$ 39	$ 1,449	$ (42)	$ 9,176	$ (3)	$ 0		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,053				1,053				1,053
Other comprehensive income	(1,879)						(1,879)		(1,879)
Issuance of common shares, net of expenses																	$ 2	$ 2	$ 2
Stock-based compensation	32			32					32
Retirement or repurchase of shares	(105)			(44)	(61)				(105)
Ending Balance at Dec. 31, 2018	8,276		0	3,462	5,286		(472)		8,276		0		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,185				2,172				2,172		13
Other comprehensive income	2,770						2,787		2,787		(17)
Issuance of common shares, net of expenses														$ 1,172	$ 1,172	$ 1,172	3	3	3
Stock-based compensation	28			28					28
Retirement or repurchase of shares	(832)			(349)	(483)				(832)
Preferred stock dividends	(36)				(36)				(36)
Other changes in equity of noncontrolling interests	575			(145)			(34)		(179)		754
Ending Balance at Dec. 31, 2019	14,141	$ (125)	0	4,171	6,939	$ (117)	2,281	$ (6)	13,391	$ (123)	750	$ (2)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,921				1,541				1,541		380
Other comprehensive income	1,857						1,696		1,696		161
Issuance of common shares, net of expenses														$ 1,140	$ 1,140	$ 1,140	$ 1,510	$ 1,510	$ 1,510
Stock-based compensation	25			25					25
Retirement or repurchase of shares	(428)			(233)	(195)				(428)
Preferred stock dividends	(95)				(95)				(95)
Other changes in equity of noncontrolling interests	240										240
Ending Balance at Dec. 31, 2020	20,140		$ 0	$ 6,613	$ 8,073		$ 3,971		$ 18,657		1,483		$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	$ (46)										$ (46)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net income		$ 1,921	$ 2,185	$ 1,053
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Amortization		521	958	174
Deferred Sales Inducement Cost, Amortization Expense		66	74	54
Net accretion of net investment premiums, discounts and other		(203)	(94)	(178)
Net investments (income) loss		(395)	(167)	(84)
Net recognized (gains) losses on investments and derivatives		(687)	(2,484)	1,112
Deferred Policy Acquisition Cost, Capitalization, Excluding Deferred Policy Acquisition Cost Capitalized at Inception of Reinsurance Agreements				919
Policy acquisition costs deferred		(633)	(645)	(2,481)
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accrued Investment Income Receivable		(130)	(128)	(66)
Increase (Decrease) in Interest Sensitive Contract Liabilities		3,347	4,003	(365)
Increase (Decrease) in Insurance Liabilities		3,246	1,171	2,457
Increase (Decrease) in Funds Held under Reinsurance Agreements		(2,241)	(2,582)	270
Increase (Decrease) in Other Operating Assets and Liabilities, Net		65	365	(240)
Net cash provided by operating activities		4,154	2,656	2,874
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale		11,384	12,762	12,121
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment		170	309	362
Proceeds from Sale and Collection of Mortgage Notes Receivable		2,162	2,070	1,373
Proceeds from Investment Funds		788	429	540
Proceeds from Derivative Instrument, Investing Activities		2,505	1,503	1,859
Proceeds from Sale, Maturity and Collection of Short-term Investments		883	398	538
Payments to Acquire Investments [Abstract]
Payments to Acquire Debt Securities, Available-for-sale		(23,404)	(17,237)	(15,435)
Payments to Acquire Trading Securities Held-for-investment		(341)	(495)	(54)
Payments to Acquire Mortgage Notes Receivable		(4,091)	(6,391)	(5,745)
Payments to Acquire Investment Funds		(1,536)	(1,012)	(1,457)
Payments for Derivative Instrument, Investing Activities		(1,879)	(1,299)	(1,348)
Payments to Acquire Short-term Investments		(617)	(802)	(478)
Deconsolidation of previously consolidated entities		(3)	0	(296)
Payments for (Proceeds from) Other Investing Activities		(296)	(45)	(94)
Net cash provided by (used in) investing activities		(14,817)	(9,956)	(8,173)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Short-term Debt		0	475	183
Repayments of Notes Payable		(75)	0	(183)
Proceeds from Issuance of Long-term Debt		992	0	998
Proceeds from Annuities and Investment Certificates		18,836	11,569	10,262
Repayments of Annuities and Investment Certificates		(7,067)	(6,548)	(6,205)
Payments for coinsurance agreements on investment-type contracts, net		(27)	(44)	(2)
Payments for (Proceeds from) Derivative Instrument, Financing Activities		546	2,286	(1,354)
Proceeds from Issuance of Preferred Stock and Preference Stock		1,140	1,172	0
Payments of Ordinary Dividends, Preferred Stock and Preference Stock		(95)	(36)	0
Payments for Repurchase of Common Stock		428	832	105
Proceeds from Noncontrolling Interests		240	575	0
Proceeds from (Payments for) Other Financing Activities		122	(80)	113
Net cash provided by financing activities		14,489	8,537	3,707
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		(26)	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total		3,800	1,237	(1,592)
Cash and cash equivalents at beginning of year	[1]	4,642	3,405	4,997
Cash and cash equivalents at end of year	[1]	8,442	4,642	3,405
Supplementary information
Income Taxes Paid, Net		168	36	52
Cash paid for interest		99	49	26
Noncash Investing and Financing Items [Abstract]
Reinsurance Agreements, Deposits on Investment Policies and Contracts		30,172	782	26,532
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts		5,010	3,393	1,843
Ceding commission on reinsurance agreements settled in investments		723	0	394
Proceeds from sale of equity securities		820	305	276
Payments to acquire equity securities		(1,362)	(451)	(335)
Proceeds from Issuance of Common Stock		351	0	0
Payments to Noncontrolling Interests		(46)	0	0
Variable Interest Entities
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Net investments (income) loss		(29)	0	0
Net recognized (gains) losses on investments and derivatives		6	(5)	17
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment		10	37	14
Proceeds from Investment Funds		20	13	59
Payments to Acquire Investments [Abstract]
Payments to Acquire Investment Funds		0	(110)	(82)
Noncash Investing and Financing Items [Abstract]
Proceeds from sale of equity securities		0	51	144
Payments to acquire equity securities		0	0	(1)
Reinsurance Settlements [Member]
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		53	56	52
Pension Risk Transfer Premiums [Member]
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		2,364	5,235	435
Reinsurance agreement
Noncash Investing and Financing Items [Abstract]
Ceding commission on reinsurance agreements settled in investments		0	0	266
Reinsurance Recapture
Noncash Investing and Financing Items [Abstract]
Transfer from Investments		4,298	0	0
Investment funds | Exchange of Stock for Stock [Member]
Payments to Acquire Investments [Abstract]
Payments to Acquire Investment Funds		0	0	(108)
Related Party
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Net investments (income) loss		(363)	(171)	(103)
Net recognized (gains) losses on investments and derivatives		(27)	(16)	12
Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accrued Investment Income Receivable		(13)	(2)	(15)
Increase (Decrease) in Interest Sensitive Contract Liabilities		276	471	30
Increase (Decrease) in Insurance Liabilities		291	295	109
Increase (Decrease) in Funds Held under Reinsurance Agreements		(902)	(1,317)	113
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale		282	252	181
Proceeds from Sale and Maturity of Debt and Equity Securities, FV-NI, Held-for-investment		31	74	44
Proceeds from Sale and Collection of Mortgage Notes Receivable		12	4	13
Proceeds from Investment Funds		691	296	350
Proceeds from Derivative Instrument, Investing Activities		0	0	2
Proceeds from Sale, Maturity and Collection of Short-term Investments		28	0	172
Payments to Acquire Investments [Abstract]
Payments to Acquire Debt Securities, Available-for-sale		(3,127)	(2,897)	(811)
Payments to Acquire Trading Securities Held-for-investment		(278)	(6)	(4)
Payments to Acquire Mortgage Notes Receivable		(61)	(366)	(389)
Payments to Acquire Investment Funds		(1,372)	(838)	(1,170)
Payments for Derivative Instrument, Investing Activities		0	(100)	(150)
Payments to Acquire Short-term Investments		(28)	0	(121)
Net Cash Provided by (Used in) Financing Activities [Abstract]
Proceeds from Annuities and Investment Certificates		86	146	151
Repayments of Annuities and Investment Certificates		(382)	(455)	(252)
Noncash Investing and Financing Items [Abstract]
Reinsurance Agreements, Deposits on Investment Policies and Contracts		344	217	17,619
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts		1,435	1,753	1,050
Transfer from Investments		0	0	95
Ceding commission on reinsurance agreements settled in investments		0	0	407
Proceeds from sale of equity securities		5	123	173
Payments to acquire equity securities		(19)	(262)	(150)
Related Party | Reinsurance Settlements [Member]
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		0	149	0
Related Party | Investment funds
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		1,147	0	0
Related Party | Reinsurance agreement
Noncash Investing and Financing Items [Abstract]
Transfer from Investments		0	320	0
Related Party | Trading securities
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		0	0	115
Related Party | Investment funds | Trading securities
Noncash Investing and Financing Items [Abstract]
Transfer to Investments		$ 516	$ 0	$ 0
[1]	1 Includes cash and cash equivalents and restricted cash.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net investments (income) loss	$ (395)	$ (167)	$ (84)
Net recognized (gains) losses on investments and derivatives	(687)	(2,484)	1,112
Increase (Decrease) in Accrued Investment Income Receivable	(130)	(128)	(66)
Interest sensitive contract liabilities	3,347	4,003	(365)
Increase (Decrease) in Insurance Liabilities	3,246	1,171	2,457
Increase (Decrease) in Funds Held under Reinsurance Agreements	(2,241)	(2,582)	270
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	11,384	12,762	12,121
Trading securities	170	309	362
Proceeds from Sale and Collection of Mortgage Notes Receivable	2,162	2,070	1,373
Investment funds	788	429	540
Proceeds from Derivative Instrument, Investing Activities	2,505	1,503	1,859
Short-term investments	883	398	538
Payments to Acquire Investments [Abstract]
Payments to Acquire Debt Securities, Available-for-sale	(23,404)	(17,237)	(15,435)
Payments to Acquire Mortgage Notes Receivable	(4,091)	(6,391)	(5,745)
Trading securities	(341)	(495)	(54)
Investment funds	(1,536)	(1,012)	(1,457)
Payments for Derivative Instrument, Investing Activities	(1,879)	(1,299)	(1,348)
Short-term investments	(617)	(802)	(478)
Proceeds from Annuities and Investment Certificates	18,836	11,569	10,262
Repayments of Annuities and Investment Certificates	(7,067)	(6,548)	(6,205)
Reinsurance Agreements, Deposits on Investment Policies and Contracts	30,172	782	26,532
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts	5,010	3,393	1,843
Variable Interest Entities
Net investments (income) loss	(29)	0	0
Net recognized (gains) losses on investments and derivatives	6	(5)	17
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Trading securities	10	37	14
Investment funds	20	13	59
Payments to Acquire Investments [Abstract]
Investment funds	0	(110)	(82)
Related Party
Net investments (income) loss	(363)	(171)	(103)
Net recognized (gains) losses on investments and derivatives	(27)	(16)	12
Increase (Decrease) in Accrued Investment Income Receivable	(13)	(2)	(15)
Interest sensitive contract liabilities	276	471	30
Increase (Decrease) in Insurance Liabilities	291	295	109
Increase (Decrease) in Funds Held under Reinsurance Agreements	(902)	(1,317)	113
Proceeds from Sale, Maturity and Collection of Investments [Abstract]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	282	252	181
Trading securities	31	74	44
Proceeds from Sale and Collection of Mortgage Notes Receivable	12	4	13
Investment funds	691	296	350
Proceeds from Derivative Instrument, Investing Activities	0	0	2
Short-term investments	28	0	172
Payments to Acquire Investments [Abstract]
Payments to Acquire Debt Securities, Available-for-sale	(3,127)	(2,897)	(811)
Payments to Acquire Mortgage Notes Receivable	(61)	(366)	(389)
Trading securities	(278)	(6)	(4)
Investment funds	(1,372)	(838)	(1,170)
Payments for Derivative Instrument, Investing Activities	0	(100)	(150)
Short-term investments	(28)	0	(121)
Transfer from Investments	0	0	95
Proceeds from Annuities and Investment Certificates	86	146	151
Repayments of Annuities and Investment Certificates	(382)	(455)	(252)
Reinsurance Agreements, Deposits on Investment Policies and Contracts	344	217	17,619
Reinsurance Agreements, Withdrawals on Investment Policies and Contracts	$ 1,435	$ 1,753	$ 1,050

Business, Basis of Presentation

Business, Basis of Presentation, and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Business, Basis of Presentation, and Significant Accounting Policies	1. Business, Basis of Presentation and Significant Accounting Policies Athene Holding Ltd. (AHL), a Bermuda exempted company, together with its subsidiaries (collectively, Athene, we, our, us, or the Company), is a leading retirement services company that issues, reinsures and acquires retirement savings products in the United States (US) and internationally. We conduct business primarily through the following consolidated subsidiaries: • Our non-US reinsurance subsidiaries, to which AHL’s other insurance subsidiaries and third-party ceding companies directly and indirectly reinsure a portion of their liabilities, including Athene Life Re Ltd. (ALRe), a Bermuda exempted company, and Athene Life Re International Ltd.; and • Athene USA Corporation, an Iowa corporation (together with its subsidiaries, AUSA). Consolidation and Basis of Presentation —Our consolidated financial statements include our wholly owned subsidiaries and investees in which we hold a controlling financial interest, including variable interest entities (VIEs). Investees in which we do not hold a controlling financial interest, but have the ability to exercise significant influence over operating and financing decisions, other than investments for which we have elected the fair value option, are accounted for under the equity method. Intercompany balances and transactions have been eliminated. For entities that are consolidated, but not wholly owned, we allocate a portion of the income or loss and corresponding equity to the owners other than us. We include the aggregate of the income or loss and corresponding equity that is not owned by us in noncontrolling interests in the consolidated financial statements. We report investments in related parties separately, as further described in the accounting policies that follow. We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. There are material risks and uncertainties surrounding the spread of the Coronavirus Disease of 2019 (COVID-19), which has resulted in significant volatility in the financial markets. Our estimates may vary as more information about the extent to which COVID-19 and the resulting impact on economic conditions and the financial markets become known. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • deferred acquisition costs (DAC), deferred sales inducements (DSI) and value of business acquired (VOBA); • future policy benefit reserves; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures. Summary of Significant Accounting Policies Investments Fixed Maturity Securities – Fixed maturity securities includes bonds, collateralized loan obligations (CLO), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and redeemable preferred stock. We classify fixed maturity securities as available-for-sale (AFS) or trading at the time of purchase and subsequently carry them at fair value. Fair value hierarchy and valuation methodologies are discussed in Note 5 – Fair Value . Classification is dependent on a variety of factors including our expected holding period, election of the fair value option and asset and liability matching. AFS Securities – AFS securities are held at fair value on the consolidated balance sheets with unrealized gains and losses, net of allowances for expected credit losses, tax and adjustments to DAC, DSI, VOBA and future policy benefits, if applicable, generally reflected in accumulated other comprehensive income (loss) (AOCI) on the consolidated balance sheets. Unrealized gains or losses relating to identified risks within AFS securities in fair value hedging relationships are reflected in investment related gains (losses) on the consolidated statements of income. Trading Securities – We elected the fair value option for certain fixed maturity securities. These fixed maturity securities are classified as trading, with changes to fair value included in investment related gains (losses) on the consolidated statements of income. Although the securities are classified as trading, the trading activity related to these investments is primarily focused on asset and liability matching activities and is not intended to be an income strategy based on active trading. As such, the activity related to these investments on the consolidated statements of cash flows is classified as investing activities. We generally record security transactions on a trade date basis, with any unsettled trades recorded in other assets or other liabilities on the consolidated balance sheets. Bank loans, private placements and investment funds are recorded on settlement date basis. Equity Securities – Equity securities includes common stock, mutual funds and non-redeemable preferred stock. Equity securities with readily determinable fair values are carried at fair value with subsequent changes in fair value recognized in net income. We have elected to account for certain equity securities without readily determinable fair values that do not qualify for the practical expedient to estimate fair values based on net asset value (NAV) per share (or its equivalent) at cost less impairment, subject to adjustments based on observable price changes in orderly transactions for identical or similar investments of the same issuer. Purchased Credit Deteriorated (PCD) Investments – We purchase certain structured securities, primarily RMBS, and re-performing mortgage loans having experienced a more-than-insignificant deterioration in credit quality since their origination which upon our assessment have been determined to meet the definition of PCD investments. Additionally, structured securities classified as beneficial interests follow the initial measurement guidance for PCD investments if there is a significant difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The initial allowance for credit losses for PCD investments is recorded through a gross-up adjustment to the initial amortized cost. For mortgage loans, the initial allowance is determined using the methodology described in the Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures section. For structured securities classified as beneficial interests, the initial allowance is calculated as the present value of the difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The non-credit purchase discount or premium is amortized into investment income using the effective interest method. The credit discount, represented by the allowance for expected credit losses, is remeasured each period following the policies for measuring credit losses described in the Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures and Credit Losses – Available-for-Sale Securities sections below. Purchased Credit Impaired (PCI) Investments – Prior to January 1, 2020, certain securities purchased with deterioration in credit quality since their issuance were accounted for as PCI investments. The difference between the undiscounted expected future cash flows of the PCI investment and the recorded investment represented the initial accretable yield, which was accreted into investment income, net of related expenses, over its remaining life on a level-yield basis. The difference between the contractually required payments on the PCI investment and the undiscounted expected future cash flows represented the non-accretable difference at acquisition. Over time, based on actual payments received and changes in estimates of undiscounted expected future cash flows, the accretable yield and the non-accretable difference could change. PCI investments are presented on the consolidated financial statements consistent with AFS securities or mortgage loans depending on the underlying investment. Quarterly, we evaluated the undiscounted expected future cash flows associated with PCI investments based on updates to key assumptions. Mortgage Loans – Mortgage loans are primarily stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of allowances for expected credit losses. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We record amortization of premiums and discounts using the effective yield method and contractual cash flows on the underlying loan. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Interest income, amortization of premiums and discounts, and prepayment fees are reported in net investment income on the consolidated statements of income. We have also elected the fair value option on a portion of our mortgage loans. Investment Funds – We invest in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (investment funds). For investment funds in which we do not hold a controlling financial interest, and therefore are not required to consolidate, we typically account for these investments using the equity method, where the cost is recorded as an investment in the fund, or we have elected the fair value option. Adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by NAV in the investment fund financial statements, which can be on a lag of up to three months when investee information is not received in a timely manner. We record our proportionate share of investment fund income within net investment income on the consolidated statements of income. Contributions paid or distributions received by us are recorded directly to the investment fund balance as an increase to carrying value or as a return of capital, respectively. Policy Loans – Policy loans are funds provided to policyholders in return for a claim on the policyholder’s account balance. The funds provided are limited to a specified percentage of the account balance. The majority of policy loans do not have a stated maturity and the balances and accrued interest are repaid with proceeds from the policyholder’s account balance. Policy loans are reported at the unpaid principal balance. Interest income is recorded as earned using the contract interest rate and is reported in net investment income on the consolidated statements of income. Funds Withheld at Interest – Funds withheld at interest represents a receivable for amounts contractually withheld by ceding companies in accordance with funds withheld coinsurance (funds withheld) and modified coinsurance (modco) reinsurance agreements in which we are the reinsurer. Generally, assets equal to statutory reserves are withheld and legally owned by the ceding company, and any excess or shortfall is settled periodically. The underlying agreements contain embedded derivatives as discussed below. Short-term Investments – Short-term investments consists of financial instruments with maturities of greater than three months but less than twelve months when purchased. Short-term debt securities are accounted for as trading or AFS consistent with our policies for those investments. Short-term loans are carried at amortized cost. Fair values are determined consistent with methodologies described in Note 5 – Fair Value for the respective investment type. Other Investments – Other investments includes, but is not limited to, term loans collateralized by mortgages on residential and commercial real estate. Mortgage collateralized term loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of allowances for expected credit losses. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We record amortization of premiums and discounts using the effective interest method and contractual cash flows on the underlying loan. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Interest income, amortization of premiums and discounts, and prepayment and other fees are reported in net investment income on the consolidated statements of income. Securities Repurchase and Reverse Repurchase Agreements – Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date and at a fixed and determinable price. We evaluate transfers of securities under these agreements to repurchase or resell to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases, with related forward repurchase or resale commitments. All of our securities repurchase transactions are accounted for as secured borrowings and are included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. Earnings from investing activities related to the cash received under our securities repurchase arrangements are included in net investment income on the consolidated statements of income. The associated borrowing cost is included in policy and other operating expenses on the consolidated statements of income. The investments purchased in reverse repurchase agreements, which represent collateral on a secured lending arrangement, are not reflected in our consolidated balance sheets; however, the secured lending arrangement is recorded as a short-term investment for the principal amount loaned under the agreement. Investment Income – We recognize investment income as it accrues or is legally due, net of investment management and custody fees. Investment income on fixed maturity securities includes coupon interest, as well as the amortization of any premium and the accretion of any discount. Investment income on equity securities represents dividend income and preferred coupons interest. Realized gains and losses on sales of investments are included in investment related gains (losses) on the consolidated statements of income. Realized gains and losses on investments sold are determined based on a first-in first-out method. Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures – We establish an allowance for expected credit losses at the time of purchase for assets held at amortized cost, which primarily includes our residential and commercial mortgage loan portfolios, but also includes certain other loans and reinsurance assets. The allowance for expected credit losses represents the portion of the asset's amortized cost basis that we do not expect to collect due to credit losses over the asset's contractual life, considering past events, current conditions, and reasonable and supportable forecasts of future economic conditions or macroeconomic forecasts. We use a quantitative probability of default and loss given default methodology to develop our estimate of expected credit loss. We develop the estimate on a collective basis factoring in the risk characteristics of the assets in the portfolio. If an asset does not share similar risk characteristics with other assets, the asset is individually assessed. Allowance estimates are highly dependent on expectations of future economic conditions and macroeconomic forecasts, which involve significant judgment and subjectivity. We use quantitative modeling to develop the allowance for expected credit losses. Key inputs into the model include data pertaining to the characteristics of the assets, historical losses and current market conditions. Additionally, the model incorporates management’s expectations around future economic conditions and macroeconomic forecasts over a reasonable and supportable forecast period, after which the model reverts to historical averages. These inputs, the reasonable and supportable forecast period, and reversion to historical average technique are subject to a formal governance and review process by management. Additionally, management considers qualitative adjustments to the model output to the extent that any relevant information regarding the collectability of the asset is available and not already considered in the quantitative model. If we determine that a financial asset has become collateral dependent, which we determine to be the point at which foreclosure is probable, the allowance is measured as the difference between amortized cost and the fair value of the collateral, less any expected costs to sell. The initial allowance for invested assets held at amortized cost other than for PCD investments, and subsequent changes in the allowance including PCD investments, are recorded through a charge to credit loss expense within investment related gains (losses) on the consolidated statements of income. Credit loss expense for reinsurance assets held at amortized cost is recorded through policy and other operating expenses on the consolidated statements of income. We limit accrued interest income on loans to 90 days of interest. Once a loan becomes 90 days past due, the loan is put on non-accrual status and any accrued interest is written off. Once a loan is on non-accrual status, we first apply any payments received to the principal of the loan, and once the principal is repaid, we include amounts received in net investment income. We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance given our policy to write off such balances in a timely manner. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income. Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. We also have certain off-balance sheet credit exposures for which we establish a liability for expected credit losses. These exposures primarily relate to commitments to fund commercial or residential mortgage loans that are not unconditionally cancelable. The methodology for estimating the liability for these credit exposures is consistent with that described above, with the additional consideration pertaining to the probability of funding. At the time the commitment expires or is funded, the liability is reversed and an allowance for expected credit losses is established, as applicable. The liability for off-balance sheet credit exposures is included in other liabilities on the consolidated balance sheets. The establishment of the initial liability and all subsequent changes are recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. Credit Losses – Available-for-Sale Securities – We evaluate AFS securities with a fair value that has declined below amortized cost to determine how the decline in fair value should be recognized. If we determine, based on the facts and circumstances related to the specific security, that we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, any existing allowance for expected credit losses is reversed and the amortized cost of the security is written down to fair value. If neither of these conditions exist, we evaluate whether the decline in fair value has resulted from a credit loss or other factors. For non-structured AFS securities, we qualitatively consider relevant facts and circumstances in evaluating whether a decline below fair value is credit - related. Relevant facts and circumstances include but are not limited to: (1) the extent to which the fair value is less than amortized cost; (2) changes in agency credit ratings, (3) adverse conditions related to the security’s industry or geographical area, (4) failure to make scheduled payments, and (5) other known changes in the financial condition of the issuer or quality of any underlying collateral or credit enhancements. For structured AFS securities meeting the definition of beneficial interests, the qualitative assessment is bypassed, and any securities having experienced a decline in fair value below amortized cost move directly to a quantitative analysis. If upon completion of this analysis it is determined that a potential credit loss exists, an allowance for expected credit losses is established equal to the amount by which the present value of expected cash flows is less than amortized cost, limited by the amount by which fair value is less than amortized cost. A non-structured security’s cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using security-specific facts and circumstances including timing, security interests and loss severity. A structured security’s cash flow estimates are based on security-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayments and structural support, including subordination and guarantees. The expected cash flows are discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete a structured security. For securities with a contractual interest rate that varies based on changes in an independent factor, such as an index or rate, the effective interest rate is calculated based on the factor as it changes over the life of the security. Inherently under the discounted cash flow model, both the timing and amount of expected cash flows affect the measurement of the allowance for expected credit losses. The allowance for expected credit losses is remeasured each period for the passage of time, any change in expected cash flows, and changes in the fair value of the security. All impairments, whether intent or requirement to sell or credit-related, are recorded through a charge to credit loss expense within investment related gains (losses) on the consolidated statements of income. All changes in the allowance for expected credit losses are recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance for expected credit losses, as we have a policy to write off such balances in a timely manner, when they become 90 days past due. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income. Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. Derivative Instruments —We invest in derivatives to hedge the risks experienced in our ongoing operations, such as equity, interest rate and cash flow risks, or for other risk management purposes, which primarily involve managing liability risks associated with our indexed annuity products and reinsurance agreements. Derivatives are financial instruments with values that are derived from interest rates, foreign exchange rates, financial indices or other combinations of an underlying and notional. Derivative assets and liabilities are carried at fair value on the consolidated balance sheets. We elect to present any derivatives subject to master netting provisions as a gross asset or liability and gross of collateral. Disclosures regarding balance sheet presentation of derivatives subject to master netting agreements are discussed in Note 3 – Derivative Instruments . We may designate derivatives as cash flow, fair value or net investment hedges. Hedge Documentation and Hedge Effectiveness – To qualify for hedge accounting, at the inception of the hedging relationship, we formally document our designation of the hedge as a cash flow, fair value or net investment hedge and our risk management objective and strategy for undertaking the hedging transaction. In this documentation, we identify how the hedging instrument is expected to hedge the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness and the method which will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and periodically throughout the life of the hedge accounting relationship. For a cash flow hedge, all changes in the fair value of the hedging derivative are reported within AOCI and the related gains or losses on the derivative are reclassified into the consolidated statements of income when the cash flows of the hedged item affect earnings. For a fair value hedge, changes in the fair value of the hedging derivative and changes in the fair value of the hedged item related to the designated risk being hedged are reported on the consolidated statements of income according to the nature of the risk being hedged. Additionally, changes in the fair value of amounts excluded from the assessment of effectiveness are recorded in AOCI and amortized into income over the life of the hedge accounting relationship. For a net investment hedge, changes in the fair value of the hedging derivative are reported within AOCI to offset the translation adjustments for subsidiaries with functional currencies other than US dollar. We discontinue hedge accounting prospectively when: (1) we determine the derivative is no longer highly effective in offsetting changes in the estimated cash flows or fair value of a hedged item; (2) the derivative expires, is sold, terminated, or exercised; or (3) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued, the derivative continues to be carried on the consolidated balance sheets at fair value, with changes in fair value recognized in investment related gains (losses) on the consolidated statements of income. For a derivative not designated as a hedge, changes in the derivative’s fair value and any income received or paid on derivatives at the settlement date are included in investment related gains (losses) on the consolidated statements of income. Embedded Derivatives – We issue and reinsure products, primarily fixed indexed annuity products, or purchase investments that contain embedded derivatives. If we determine the embedded derivative has economic characteristics not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract and accounted for separately, unless the fair value option is elected on the host contract. Under the fair value option, bifurcation of the embedded derivative is not necessary as the entire contract is carried at fair value with all related gains and losses recognized in investment related gains (losses) on the consolidated statements of income. Embedded derivatives are carried on the consolidated balance sheets at fair value in the same line item as the host contract. Fixed indexed annuity, index-linked variable annuity and indexed universal life insurance contracts allow the policyholder to elect a fixed interest rate return or an equity market component for which interest credited is based on the performance of certain stock market indices. The equity market option is an embedded derivative. The benefit reserve is equal to the sum of the fair value of the embedded derivative and the host (or guaranteed) component of the contracts. The fair value of the embedded derivatives is computed as the present value of benefits attributable to the excess of the projected policy contract values over the projected minimum guaranteed contract values. The projections of policy contract values are based on assumptions for future policy growth, which include assumptions for expected index credits on the next policy anniversary date, future equity option costs, volatility, interest rates and policyholder behavior assumptions including lapses and the use of benefit riders. The projections of minimum guaranteed contract values include the same assumptions for policyholder behavior as were used to project policy contract values. The embedded derivative cash flows are discounted using a rate that reflects our own credit rating. The host contract is established at contract inception as the initial account value less the initial fair value of the embedded derivative and accreted over the policy’s life. The host contract accretion rate is updated each quarter so that the present value of actual and expected guaranteed cash flows is equal to the initial host value. Changes in the fair value of embedded derivatives associated with fixed indexed annuities, index-linked variable annuities and indexed universal life insurance contracts are included in interest sensitive contract benefits on the consolidated statements of income. Additionally, reinsurance agreements written on a funds withheld or modco basis contain embedded derivatives. We have determined that the right to receive or obligation to pay the total return on the assets supporting the funds withheld at interest or funds withheld liability, respectively, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modco agreements is computed as the unrealized gain (loss) on the underlying assets and is included within funds withheld at interest and funds withheld liability on the consolidated balance sheets for assumed and ceded agreements, respectively. The change in the fair value of the embedded derivatives is recorded in investment related gains (losses) on the consolidated statements of income. Assumed and ceded earnings from funds withheld at interest, funds withheld liability and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from funds withheld at interest and funds withheld liability are reported in operating activities on the consolidated statements of cash flows. Variable Interest Entities —An entity that does not have sufficient equity to finance its activities without additional financial support, or in which the equity investors, as a group, do not have the characteristics typically afforded to common shareholders is a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and may require significant judgment. Our investment funds typically qualify as VIEs and are evaluated for consolidation under the VIE model. We are required to consolidate a

Investments

Investments	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Investments	2. Investments AFS Securities — The following table represents the amortized cost, allowance for credit losses, gross unrealized gains and losses and fair value our AFS investments by asset type: December 31, 2020 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 349 $ — $ 3 $ (1) $ 351 US state, municipal and political subdivisions 864 — 169 — 1,033 Foreign governments 330 — 38 — 368 Corporate 51,934 (6) 6,368 (116) 58,180 CLO 9,631 (1) 145 (206) 9,569 ABS 4,259 (6) 140 (123) 4,270 CMBS 2,165 (10) 85 (71) 2,169 RMBS 6,568 (80) 447 (22) 6,913 Total AFS securities 76,100 (103) 7,395 (539) 82,853 AFS securities – related party Corporate 213 — 2 — 215 CLO 1,511 (1) 23 (13) 1,520 ABS 4,720 — 95 (30) 4,785 Total AFS securities – related party 6,444 (1) 120 (43) 6,520 Total AFS securities including related party $ 82,544 $ (104) $ 7,515 $ (582) $ 89,373 The following table represents the amortized cost, gross unrealized gains and losses, fair value and other-than-temporary impairment ( OTTI) in AOCI of our AFS investments by asset type: December 31, 2019 (In millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI AFS securities US government and agencies $ 35 $ 1 $ — $ 36 $ — US state, municipal and political subdivisions 1,322 220 (1) 1,541 — Foreign governments 298 29 — 327 — Corporate 44,106 3,332 (210) 47,228 1 CLO 7,524 21 (196) 7,349 — ABS 5,018 124 (24) 5,118 4 CMBS 2,304 104 (8) 2,400 1 RMBS 6,872 513 (10) 7,375 19 Total AFS securities 67,479 4,344 (449) 71,374 25 AFS securities – related party Corporate 18 1 — 19 — CLO 951 3 (18) 936 — ABS 2,814 37 (2) 2,849 — Total AFS securities – related party 3,783 41 (20) 3,804 — Total AFS securities including related party $ 71,262 $ 4,385 $ (469) $ 75,178 $ 25 The amortized cost and fair value of AFS securities, including related party, are shown by contractual maturity below: December 31, 2020 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 817 $ 829 Due after one year through five years 8,146 8,684 Due after five years through ten years 13,975 15,235 Due after ten years 30,539 35,184 CLO, ABS, CMBS and RMBS 22,623 22,921 Total AFS securities 76,100 82,853 AFS securities – related party Due after one year through five years 18 20 Due after five years through ten years 195 195 CLO and ABS 6,231 6,305 Total AFS securities – related party 6,444 6,520 Total AFS securities including related party $ 82,544 $ 89,373 Actual maturities can differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Unrealized Losses on AFS Securities — The following summarizes the fair value and gross unrealized losses for AFS securities, including related party, for which an allowance for credit losses has not been recorded, aggregated by asset type and length of time the fair value has remained below amortized cost: December 31, 2020 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Fair Value Gross AFS securities US government and agencies $ 31 $ (1) $ — $ — $ 31 $ (1) US state, municipal and political subdivisions 9 — 6 — 15 — Foreign governments 2 — — — 2 — Corporate 2,218 (66) 248 (24) 2,466 (90) CLO 1,649 (33) 3,179 (167) 4,828 (200) ABS 1,169 (73) 84 (18) 1,253 (91) CMBS 710 (37) 48 (13) 758 (50) RMBS 548 (11) 37 (2) 585 (13) Total AFS securities 6,336 (221) 3,602 (224) 9,938 (445) AFS securities – related party CLO 336 (3) 232 (10) 568 (13) ABS 1,012 (30) — — 1,012 (30) Total AFS securities – related party 1,348 (33) 232 (10) 1,580 (43) Total AFS securities including related party $ 7,684 $ (254) $ 3,834 $ (234) $ 11,518 $ (488) The following summarizes the fair value and gross unrealized losses for AFS securities, including related party, aggregated by asset type and length of time the fair value has remained below amortized cost: December 31, 2019 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 3 $ — $ — $ — $ 3 $ — US state, municipal and political subdivisions 78 (1) 10 — 88 (1) Corporate 2,898 (140) 902 (70) 3,800 (210) CLO 1,959 (38) 3,241 (158) 5,200 (196) ABS 642 (6) 255 (18) 897 (24) CMBS 220 (4) 41 (4) 261 (8) RMBS 445 (6) 163 (4) 608 (10) Total AFS securities 6,245 (195) 4,612 (254) 10,857 (449) AFS securities – related party CLO 362 (7) 242 (11) 604 (18) ABS 357 (2) — — 357 (2) Total AFS securities – related party 719 (9) 242 (11) 961 (20) Total AFS securities including related party $ 6,964 $ (204) $ 4,854 $ (265) $ 11,818 $ (469) The following summarizes the number of AFS securities that were in an unrealized loss position, including related party, for which an allowance for credit losses has not been recorded: December 31, 2020 Unrealized loss position Unrealized loss position 12 months or more AFS securities 1,264 356 AFS securities – related party 45 8 The unrealized losses on AFS securities can primarily be attributed to changes in market interest rates since acquisition. We did not recognize the unrealized losses in income as we intend to hold these securities and it is not more likely than not we will be required to sell a security before the recovery of its amortized cost. Allowance for Credit Losses — The following table summarizes the activity in the allowance for credit losses for AFS securities by asset type: Years ended December 31, 2020 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Additions (reductions) to previously impaired securities Ending Balance AFS securities Corporate $ — $ 44 $ — $ (14) $ (24) $ 6 CLO — 1 — — — 1 ABS — 7 — — (1) 6 CMBS — 24 — (1) (13) 10 RMBS 17 51 66 (17) (37) 80 Total AFS securities 17 127 66 (32) (75) 103 AFS securities – related party, CLO — 2 — (1) — 1 Total AFS securities including related party $ 17 $ 129 $ 66 $ (33) $ (75) $ 104 Net Investment Income —Net investment income by asset class consists of the following: Years ended December 31, (In millions) 2020 2019 2018 AFS securities $ 3,225 $ 3,088 $ 2,855 Trading securities 192 189 200 Equity securities 14 16 12 Mortgage loans 742 670 457 Investment funds 721 382 287 Funds withheld at interest 269 527 492 Other 226 159 112 Investment revenue 5,389 5,031 4,415 Investment expenses (504) (435) (355) Net investment income $ 4,885 $ 4,596 $ 4,060 Investment Related Gains (Losses) —Investment related gains (losses) by asset class consists of the following: Years ended December 31, (In millions) 2020 2019 2018 AFS securities Gross realized gains on investment activity $ 602 $ 178 $ 165 Gross realized losses on investment activity (415) (56) (151) Net realized investment gains on AFS securities 187 122 14 Net recognized investment gains (losses) on trading securities 33 151 (254) Net recognized investment gains (losses) on equity securities (218) 25 (65) Derivative gains (losses) 3,430 4,443 (1,099) Provision for credit losses (69) — — Other gains (losses) (54) (22) 44 Investment related gains (losses) $ 3,309 $ 4,719 $ (1,360) Proceeds from sales of AFS securities were $7,911 million, $6,886 million and $6,547 million for the years ended December 31, 2020, 2019 and 2018, respectively. The following table summarizes the change in unrealized gains (losses) on trading and equity securities, including related party and consolidated VIEs, we held as of the respective year end: Years ended December 31, (In millions) 2020 2019 2018 Trading securities $ 130 $ 193 $ (143) Trading securities – related party (37) (18) (25) Equity securities (9) 19 (18) Equity securities – related party — (18) 24 Purchased Financial Assets with Credit Deterioration —The following table summarizes our PCD investment purchases with the following amounts at the time of purchase: Year ended December 31, 2020 (In millions) Fixed maturity securities Mortgage loans Purchase price $ 254 $ 524 Allowance for credit losses at acquisition 66 7 Discount (premiums) attributable to other factors 36 (13) Par value $ 356 $ 518 Purchased Credit Impaired Investments —Prior to January 1, 2020, we accounted for certain securities purchased with deterioration in credit quality since their issuance which met the definition of PCI investments. The following table summarizes our PCI investments as of December 31, 2019: (In millions) Fixed maturity securities Mortgage loans Contractually required payments receivable $ 6,772 $ 3,647 Less: Cash flows expected to be collected 1 (6,064) (3,606) Non-accretable difference $ 708 $ 41 Cash flows expected to be collected 1 $ 6,064 $ 3,606 Less: Amortized cost (4,603) (2,575) Accretable difference $ 1,461 $ 1,031 Fair value $ 5,007 $ 2,756 Outstanding balance 5,740 2,925 1 Represents the undiscounted principal and interest cash flows expected. During the year ended December 31, 2019, we acquired PCI investments with the following amounts at the time of purchase: (In millions) Fixed maturity securities Mortgage loans Contractually required payments receivable $ 176 $ 1,198 Cash flows expected to be collected 146 1,179 Fair value 124 910 The following table summarizes the activity for the accretable yield on PCI investments during 2019: (In millions) Fixed maturity securities Mortgage loans Beginning balance at January 1, 2019 $ 1,677 $ 697 Purchases of PCI investments, net of sales 1 191 Accretion (307) (115) Net reclassification from non-accretable difference 90 258 Ending balance at December 31, 2019 $ 1,461 $ 1,031 Repurchase Agreements —The following table summarizes the maturities of our repurchase agreements: December 31, 2020 Remaining Contractual Maturity (In millions) Overnight and continuous Less than 30 days 30–90 days 91 days to 1 year Greater than 1 year Total Payables for repurchase agreements 1 $ — $ — $ — $ — $ 598 $ 598 1 Included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. December 31, 2019 Remaining Contractual Maturity (In millions) Overnight and continuous Less than 30 days 30–90 days 91 days to 1 year Greater than 1 year Total Payables for repurchase agreements 1 $ — $ 102 $ 200 $ 210 $ — $ 512 1 Included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. The following table summarizes the securities pledged as collateral for repurchase agreements: December 31, 2020 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities – Corporate $ 559 $ 644 $ 498 $ 534 Reverse Repurchase Agreements — As of December 31, 2020 and 2019, amounts loaned under reverse repurchase agreements were $0 million and $190 million, respectively, and collateral received was $0 million and $630 million, respectively. Mortgage Loans, including related party —Mortgage loans, net of allowances, consists of the following: December 31, (In millions) 2020 2019 Commercial mortgage loans $ 11,383 $ 10,422 Commercial mortgage loans under development 232 93 Total commercial mortgage loans 11,615 10,515 Allowance for credit losses on commercial mortgage loans (167) (10) Commercial mortgage loans, net of allowances 11,448 10,505 Residential mortgage loans 4,569 4,455 Allowance for credit losses on residential mortgage loans (79) (1) Residential mortgage loans, net of allowances 4,490 4,454 Mortgage loans, net of allowances $ 15,938 $ 14,959 We primarily invest in commercial mortgage loans on income producing properties including office and retail buildings, apartments, hotels, and industrial properties. We diversify the commercial mortgage loan portfolio by geographic region and property type to reduce concentration risk. We evaluate mortgage loans based on relevant current information to confirm if properties are performing at a consistent and acceptable level to secure the related debt. The distribution of commercial mortgage loans, including those under development, net of allowances, by property type and geographic region, is as follows: December 31, 2020 2019 (In millions, except for percentages) Net Carrying Value Percentage of Total Net Carrying Value Percentage of Total Property type Office building $ 3,589 31.4 % $ 2,899 27.6 % Retail 2,083 18.2 % 2,182 20.8 % Apartment 2,441 21.3 % 2,142 20.4 % Hotels 1,294 11.3 % 1,104 10.5 % Industrial 1,362 11.9 % 1,448 13.8 % Other commercial 679 5.9 % 730 6.9 % Total commercial mortgage loans $ 11,448 100.0 % $ 10,505 100.0 % US Region East North Central $ 1,209 10.5 % $ 1,036 9.9 % East South Central 402 3.5 % 428 4.1 % Middle Atlantic 3,069 26.8 % 2,580 24.6 % Mountain 487 4.2 % 528 5.0 % New England 350 3.1 % 340 3.2 % Pacific 2,746 24.0 % 2,502 23.8 % South Atlantic 1,773 15.5 % 1,920 18.3 % West North Central 145 1.3 % 146 1.4 % West South Central 640 5.6 % 791 7.5 % Total US Region 10,821 94.5 % 10,271 97.8 % International Region 627 5.5 % 234 2.2 % Total commercial mortgage loans $ 11,448 100.0 % $ 10,505 100.0 % Our residential mortgage loan portfolio includes first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: December 31, 2020 2019 US States California 24.8 % 27.0 % Florida 13.3 % 12.7 % Texas 4.4 % 6.2 % New York 6.2 % 3.3 % Other 1 36.7 % 38.4 % Total US residential mortgage loan percentage 85.4 % 87.6 % International Ireland 12.9 % 12.4 % Other 2 1.7 % — % Total International residential mortgage loan percentage 14.6 % 12.4 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states, with each individual state comprising less than 5% of the portfolio. 2 Represents all other countries, with each individual country comprising less than 5% of the portfolio. Loan Valuation Allowance — The allowances for our mortgage loan portfolio and other loans is summarized as follows: December 31, 2020 (In millions) Commercial Mortgage Residential Mortgage Other Investments Total Beginning balance $ 10 $ 1 $ — $ 11 Adoption of accounting standard 167 43 11 221 Provision (reversal) for expected credit losses (10) 29 (4) 15 Initial credit losses on PCD loans — 7 — 7 Loans charged-off — (1) — (1) Ending balance $ 167 $ 79 $ 7 $ 253 Commercial mortgage loans – Our allowance model for commercial mortgage loans is based on the characteristics of the loans in our portfolio, historical economic data and loss information, and current and forecasted economic conditions. Key loan characteristics affecting the estimate include, among others: time to maturity, delinquency status, loan-to-value ratios, debt service coverage ratios, etc. Key macroeconomic variables include unemployment rates, rent growth, capitalization rates, and the housing price index. Management reviews and approves forecasted macroeconomic variables, along with the reasonable and supportable forecast period and mean reversion technique. Management also evaluates assumptions from independent third parties and these assumptions have a high degree of subjectivity. The mean reversion technique varies by macroeconomic variable and may vary by geographic location. As of December 31, 2020, our reasonable and supportable forecast period ranged from one Residential mortgage loans – Our allowance model for residential mortgage loans is based on the characteristics of the loans in our portfolio, historical economic data and loss information, and current and forecasted economic conditions. Key loan characteristics affecting the estimate include, among others: time to maturity, delinquency status, original credit scores and loan-to-value ratios. Key macroeconomic variables include unemployment rates and the housing price index. Management reviews and approves forecasted macroeconomic variables, along with the reasonable and supportable forecast period and mean reversion technique. Management also evaluates assumptions from independent third parties and these assumptions have a high degree of subjectivity. The mean reversion technique varies by macroeconomic variable and may vary by geographic location. As of December 31, 2020, our reasonable and supportable forecast period was one year, after which, we revert to the 30-year or greater historical average over a period of up to one year and then continue at those averages through the contractual life of the loan. Other investments – The allowance model for the loans included in other investments and related party other investments derives an estimate based on historical loss data available for similarly rated unsecured corporate debt obligations, while also incorporating management’s expectations around prepayment. See Note 14 – Related Parties for further information on the related party loans. Credit Quality Indicators Residential mortgage loans – The underwriting process for our residential mortgage loans includes an evaluation of relevant credit information including past loan performance, credit scores, loan-to-value and other relevant information. Subsequent to purchase or origination, we closely monitor economic conditions and loan performance to manage and evaluate our exposure to credit risk in our residential mortgage loan portfolio. The primary credit quality indicator monitored for residential mortgage loans is loan performance. Nonperforming residential mortgage loans are 90 days or more past due and/or are in non-accrual status. The following represents our residential loan portfolio by origination year and performance status: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Current (less than 30 days past due) $ 955 $ 942 $ 1,730 $ 485 $ 141 $ 6 $ 4,259 30 to 59 days past due 68 16 34 26 8 1 153 60 to 89 days past due 15 7 16 9 3 — 50 90 days or more past due 3 26 22 43 12 1 107 Total residential mortgages $ 1,041 $ 991 $ 1,802 $ 563 $ 164 $ 8 $ 4,569 As of December 31, 2019 , $67 million of our residential mortgage loans were nonperforming. The following represents our residential loan portfolio in non-accrual status: (In millions) December 31, 2020 Beginning amortized cost of residential mortgage loans in non-accrual status $ 67 Ending amortized cost of residential mortgage loans in non-accrual status 107 Amortized cost of residential mortgage loans in non-accrual status without a related allowance for credit losses 13 During the year ended December 31, 2020, we recognized $5 million of interest income on residential mortgage loans in non-accrual status. Commercial mortgage loans – The following represents our commercial mortgage loan portfolio by origination year and loan performance status: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Current (less than 30 days past due) $ 1,913 $ 4,400 $ 2,617 $ 987 $ 130 $ 1,452 $ 11,499 30 to 59 days past due — 20 45 25 — 5 95 90 days or more past due — — — — — 21 21 Total commercial mortgages $ 1,913 $ 4,420 $ 2,662 $ 1,012 $ 130 $ 1,478 $ 11,615 As of December 31, 2019 , none of our commercial loans were 30 days or more past due. The following represents our commercial mortgage loan portfolio in non-accrual status: (In millions) December 31, 2020 Beginning amortized cost of commercial mortgage loans in non-accrual status $ — Ending amortized cost of commercial mortgage loans in non-accrual status 38 Amortized cost of commercial mortgage loans in non-accrual status without a related allowance for credit losses — During the year ended December 31, 2020, no interest income was recognized on commercial mortgage loans in non-accrual status. Loan-to-value and debt service coverage ratios are measures we use to assess the risk and quality of commercial mortgage loans other than those under development. Loans under development are not evaluated using these ratios as the properties underlying these loans are generally not yet income-producing and the value of the underlying property significantly fluctuates based on the progress of construction. Therefore, the risk and quality of loans under development are evaluated based on the aging and geographical distribution of such loans as shown above. The loan-to-value ratio is expressed as a percentage of the amount of the loan relative to the value of the underlying property. A loan-to-value ratio in excess of 100% indicates the unpaid loan amount exceeds the value of the underlying collateral. Loan-to-value information is updated annually as part of the re-underwriting process supporting the NAIC risk based capital rating criteria. The following represents the loan-to-value ratio of the commercial mortgage loan portfolio, excluding those under development, by origination year: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Less than 50% $ 431 $ 600 $ 201 $ 152 $ 44 $ 1,153 $ 2,581 50% to 59% 315 1,320 765 300 40 147 2,887 60% to 69% 583 1,988 1,222 440 46 106 4,385 70% to 79% 478 485 375 95 — 13 1,446 80% to 99% — — — 25 — 21 46 100% or greater — — — — — 38 38 Commercial mortgage loans $ 1,807 $ 4,393 $ 2,563 $ 1,012 $ 130 $ 1,478 $ 11,383 The following represents the loan-to-value ratio of the commercial mortgage loan portfolio, excluding those under development, net of valuation allowances: (In millions) December 31, 2019 Less than 50% $ 2,640 50% to 59% 2,486 60% to 69% 4,093 70% to 79% 1,162 80% to 99% 31 Commercial mortgage loans $ 10,412 The debt service coverage ratio is expressed as a percentage of a property’s net operating income to its debt service payments. A debt service ratio of less than 1.0 indicates a property’s operations do not generate enough income to cover debt payments. Debt service coverage ratios are updated as more recent financial statements become available, at least annually or as frequently as quarterly in some cases. The following represents the debt service coverage ratio of the commercial mortgage loan portfolio, excluding those under development, by origination year: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Greater than 1.20x $ 1,274 $ 2,964 $ 2,440 $ 846 $ 129 $ 1,369 $ 9,022 1.00x – 1.20x 533 1,122 36 70 1 101 1,863 Less than 1.00x — 307 87 96 — 8 498 Commercial mortgage loans $ 1,807 $ 4,393 $ 2,563 $ 1,012 $ 130 $ 1,478 $ 11,383 The following represents the debt service coverage ratio of the commercial mortgage loan portfolio, excluding those under development, net of valuation allowances: (In millions) December 31, 2019 Greater than 1.20x $ 9,212 1.00x – 1.20x 1,166 Less than 1.00x 34 Commercial mortgage loans $ 10,412 Investment Funds —Our investment fund portfolio consists of funds that employ various strategies and include investments in real estate, real assets, credit , equity and natural resources. Investment funds can meet the definition of VIEs, which are discussed further in Note 4 – Variable Interest Entities . Our investment funds do not specify timing of distributions on the funds’ underlying assets. The following summarizes our investment funds, including related party: December 31, 2020 2019 (In millions, except for percentages) Carrying value Percent of total Carrying value Percent of total Investment funds Real estate $ 348 43.3 % $ 277 36.9 % Credit funds 107 13.3 % 153 20.4 % Private equity 267 33.3 % 236 31.5 % Real assets 81 10.1 % 83 11.1 % Natural resources — — % 1 0.1 % Total investment funds 803 100.0 % 750 100.0 % Investment funds – related parties Differentiated investments MidCap FinCo Designated Activity Company (MidCap) 1 — — % 547 15.4 % AmeriHome Mortgage Company, LLC (AmeriHome) 2 444 8.4 % 487 13.7 % Catalina Holdings Ltd. (Catalina) 334 6.3 % 271 7.6 % Athora Holding Ltd. (Athora) 1 709 13.4 % 132 3.7 % Venerable Holdings, Inc. (Venerable) 1 123 2.3 % 99 2.8 % Other 279 5.3 % 222 6.3 % Total differentiated investments 1,889 35.7 % 1,758 49.5 % Real estate 828 15.7 % 853 24.0 % Credit funds 375 7.1 % 370 10.4 % Private equity 473 8.9 % 105 3.0 % Real assets 172 3.3 % 182 5.1 % Natural resources 113 2.1 % 163 4.6 % Public equities 110 2.1 % 119 3.4 % Investment in Apollo 1 1,324 25.1 % — — % Total investment funds – related parties 5,284 100.0 % 3,550 100.0 % Total investment funds including related party $ 6,087 $ 4,300 1 See further discussion on MidCap, Athora, Venerable and our investment in Apollo in Note 14 – Related Parties. 2 Our AmeriHome investment is held indirectly through A-A Mortgage Opportunities, L.P. (A-A Mortgage). See further discussion on A-A Mortgage and AmeriHome in Note 14 – Related Parties. Summarized Ownership of Investment Funds —The following is the aggregated summarized financial information of equity method investees, including those for which we elected the fair value option and would otherwise be accounted for as an equity method investment, and may be presented on a lag due to the availability of financial information from the investee: December 31, (In millions) 2020 2019 Assets $ 130,807 $ 50,563 Liabilities 109,654 31,821 Equity 21,153 18,742 Years ended December 31, (In millions) 2020 2019 2018 Net income $ 2,196 $ 817 $ 1,159 The following table presents the carrying value by ownership percentage of equity method investment funds, including related party investment funds: December 31, (In millions) 2020 2019 Ownership Percentage 100% $ 717 $ 11 50% – 99% 678 1,378 3% – 49% 2,412 1,938 Equity method investment funds $ 3,807 $ 3,327 The following table presents the carrying value by ownership percentage of investment funds held at fair value, either due to election of the fair value option or requirement, including related party investment funds: December 31, (In millions) 2020 2019 Ownership Percentage 50% – 99% $ 28 $ 28 3% – 49% 2,109 772 Less than 3% 143 173 Fair value investment funds $ 2,280 $ 973 Non-Consolidated Securities and Investment Funds Fixed maturity securities – We invest in securitization entities as a debt holder or an investor in the residual interest of the securitization vehicle. These entities are deemed VIEs due to insufficient equity within the structure and lack of control by the equity investors over the activities that significantly impact the economics of the entity. In general, we are a debt investor within these entities and, as such, hold a variable interest; however, due to the debt holders’ lack of ability to control the decisions within the trust that significantly impact the entity, and the fact the debt holders are protected from losses due to the subordination of the equity tranche, the debt holders are not deemed the primary beneficiary. Securitization vehicles in which we hold the residual tranche are not consolidated because we do not unilaterally have substantive rights to remove the general partner, or when assessing related party interests, we are not under common control, as defined by GAAP, with the related party, nor are substantially all of the activities conducted on our behalf; therefore, we are not deemed the primary beneficiary. Debt investments and investments in the residual tranche of securitization entities are considered debt instruments and are held at fair value on the balance sheet and classified as AFS or trading. Investment funds – Investment funds include non-fixed income, alternative investments in the form of limited partnerships or similar legal structures. Equity securities – We invest in preferred equity securities issued by entities deemed to be VIEs due to insufficient equity within the structure. Our risk of loss associated with our non-consolidated investments depends on the investment. Investment funds, equity securities and trading securities are limited to the carrying value plus unfunded commitments. AFS securities are limited to amortized cost plus unfunded commitments. The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: December 31, 2020 2019 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 803 $ 1,265 $ 750 $ 1,265 Investment in related parties – investment funds 5,284 7,989 3,550 5,955 Investment in fixed maturity securities 23,325 23,027 22,694 22,170 Investment in related parties – fixed maturity securities 7,834 8,126 4,570 4,878 Investment in related parties – equity securities 72 72 58 58 Total non-consolidated investments $ 37,318 $ 40,479 $ 31,622 $ 34,326

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	3. Derivative Instruments We use a variety of derivative instruments to manage risks, primarily equity, interest rate, credit, foreign currency and market volatility. See Note 1 – Business, Basis of Presentation and Significant Accounting Policies for a description of our accounting policies for derivatives and Note 5 – Fair Value for information about the fair value hierarchy for derivatives. The following table presents the notional amount and fair value of derivative instruments: December 31, 2020 2019 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency swaps 4,417 $ 134 $ 181 3,158 $ 113 $ 56 Foreign currency forwards 2,038 3 9 717 1 9 Foreign currency forwards on net investments 173 — 2 139 — 2 Total derivatives designated as hedges 137 192 114 67 Derivatives not designated as hedges Equity options 53,666 3,209 22 49,549 2,746 5 Futures 24 58 2 8 10 1 Total return swaps 97 6 — 106 6 — Foreign currency swaps 1,510 96 — 35 2 1 Interest rate swaps 803 — 34 776 3 4 Credit default swaps 10 — 4 10 — 3 Foreign currency forwards 3,595 17 44 1,924 7 16 Embedded derivatives Funds withheld including related party 2,806 59 1,395 31 Interest sensitive contract liabilities — 12,873 — 10,942 Total derivatives not designated as hedges 6,192 13,038 4,169 11,003 Total derivatives $ 6,329 $ 13,230 $ 4,283 $ 11,070 Derivatives Designated as Hedges Foreign currency swaps – We use foreign currency swaps to convert foreign currency denominated cash flows of an investment to US dollars to reduce cash flow fluctuations due to changes in currency exchange rates. Certain of these swaps are designated and accounted for as cash flow hedges, which will expire by March 2052. During the years ended December 31, 2020, 2019 and 2018, we had foreign currency swap losses of $106 million and gains of $29 million and $146 million, respectively, recorded in OCI. There were no amounts reclassified to income and no amounts deemed ineffective during the years ended December 31, 2020 , 2019 or 2018. As of December 31, 2020, no amounts are expected to be reclassified to income within the next 12 months. Foreign currency forwards – We use foreign currency forward contracts to hedge certain exposures to foreign currency risk. The price is agreed upon at the time of the contract and payment is made at a specified future date. Certain of these forwards are designated and accounted for as fair value hedges. The following represents the carrying amount and the cumulative fair value hedging adjustments included in the hedged assets or liabilities: December 31, 2020 (In millions) Carrying amount of the hedged assets or liabilities Cumulative amount of fair value hedging gains (losses) AFS securities $ 1,932 $ 117 Interest sensitive contract liabilities 65 (1) The following is a summary of the gains (losses) related to the derivatives and related hedged items in fair value hedge relationships: (In millions) Derivatives Hedged Items Amount Excluded Net Year ended December 31, 2020 Investment related gains (losses) $ (118) $ 116 $ — $ (2) Interest sensitive contract liabilities 1 (1) — — Year ended December 31, 2019 Investment related gains (losses) 2 — — 2 Year ended December 31, 2018 Investment related gains (losses) (1) 1 — — Foreign currency forwards on net investments – We have foreign currency forwards designated as net investment hedges. These forwards hedge the foreign currency exchange rate risk of our investments in subsidiaries that have a reporting currency other than the US dollar. We assess hedge effectiveness based on the changes in forward rates. During the years ended December 31, 2020, 2019 and 2018, these derivatives had gains of $2 million and losses of $2 million and $0 million, respectively, which are included in foreign currency translation and other adjustments on the consolidated statements of comprehensive income. As of December 31, 2020 and 2019, the cumulative foreign currency translation recorded in AOCI related to these net investment hedges was losses of $0 million and $2 million, respectively. There were no amounts deemed ineffective for the years ended December 31, 2020, 2019 and 2018 . Derivatives Not Designated as Hedges Equity options – We use equity indexed options to economically hedge fixed indexed annuity products that guarantee the return of principal to the policyholder and credit interest based on a percentage of the gain in a specified market index, primarily the S&P 500. To hedge against adverse changes in equity indices, we enter into contracts to buy equity indexed options. The contracts are net settled in cash based on differentials in the indices at the time of exercise and the strike price. Futures – Futures contracts are purchased to hedge the growth in interest credited to the customer as a direct result of increases in the related indices. We enter into exchange-traded futures with regulated futures commission clearing brokers who are members of a trading exchange. Under exchange-traded futures contracts, we agree to purchase a specified number of contracts with other parties and to post variation margin on a daily basis in an amount equal to the difference in the daily fair values of those contracts. Total return swaps – We purchase total rate of return swaps to gain exposure and benefit from a reference asset or index without ownership. Total rate of return swaps are contracts in which one party makes payments based on a set rate, either fixed or variable, while the other party makes payments based on the return of the underlying asset or index, which includes both the income it generates and any capital gains. Interest rate swaps – We use interest rate swaps to reduce market risks from interest rate changes and to alter interest rate exposure arising from duration mismatches between assets and liabilities. With an interest rate swap, we agree with another party to exchange the difference between fixed-rate and floating-rate interest amounts tied to an agreed-upon notional principal amount at specified intervals. Credit default swaps – Credit default swaps provide a measure of protection against the default of an issuer or allow us to gain credit exposure to an issuer or traded index. We use credit default swaps coupled with a bond to synthetically create the characteristics of a reference bond. These transactions have a lower cost and are generally more liquid relative to the cash market. We receive a periodic premium for these transactions as compensation for accepting credit risk. Hedging credit risk involves buying protection for existing credit risk. The exposure resulting from the agreements, which is usually the notional amount, is equal to the maximum proceeds that must be paid by a counterparty for a defaulted security. If a credit event occurs on a reference entity, then a counterparty who sold protection is required to pay the buyer the trade notional amount less any recovery value of the security. Embedded derivatives – We have embedded derivatives which are required to be separated from their host contracts and reported as derivatives. Host contracts include reinsurance agreements structured on modco or funds withheld basis and indexed annuity products. The following is a summary of the gains (losses) related to derivatives not designated as hedges: Years ended December 31, (In millions) 2020 2019 2018 Equity options $ 819 $ 2,169 $ (877) Futures 123 (13) 2 Swaps 82 43 (8) Foreign currency forwards (127) (2) 16 Embedded derivatives on funds withheld 2,651 2,246 (232) Amounts recognized in investment related gains (losses) 3,548 4,443 (1,099) Embedded derivatives in indexed annuity products 1 (1,384) (2,526) 923 Total gains (losses) on derivatives not designated as hedges $ 2,164 $ 1,917 $ (176) 1 Included in interest sensitive contract benefits on the consolidated statements of income. Credit Risk —We may be exposed to credit-related losses in the event of counterparty nonperformance on derivative financial instruments. Generally, the current credit exposure of our derivative contracts is the fair value at the reporting date less any collateral received from the counterparty. We manage credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counterparties. Where possible, we maintain collateral arrangements and use master netting agreements that provide for a single net payment from one counterparty to another at each due date and upon termination. We have also established counterparty exposure limits, where possible, in order to evaluate if there is sufficient collateral to support the net exposure. Collateral arrangements typically require the posting of collateral in connection with its derivative instruments. Collateral agreements often contain posting thresholds, some of which may vary depending on the posting party’s financial strength ratings. Additionally, a decrease in our financial strength rating to a specified level can result in settlement of the derivative position. The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral received/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral December 31, 2020 Derivative assets $ 3,523 $ (165) $ (3,196) $ 162 $ (46) $ 116 Derivative liabilities (298) 165 144 11 — 11 December 31, 2019 Derivative assets $ 2,888 $ (67) $ (2,743) $ 78 $ (145) $ (67) Derivative liabilities (97) 67 31 1 — 1 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2020 and 2019, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received. Certain derivative instruments contain provisions for credit-related events, such as downgrades in our credit ratings or for a negative credit event of a credit default swap’s reference entity. If a credit event were to occur, we may be required to settle an outstanding liability. The following is a summary of our exposure to credit-related events: December 31, (In millions) 2020 2019 Fair value of derivative liabilities with credit related provisions $ 4 $ 3 Maximum exposure for credit default swaps 10 10 As of December 31, 2020 and 2019, no additional collateral would be required if a default or termination event were to occur.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	4. Variable Interest Entities We consolidate Hamlet Securitization Trust 2020-CRE1 (Hamlet), which was formed to securitize a portion of our commercial mortgage loan portfolio as CMBS securities held by AHL subsidiaries and third-party cedant portfolios. Securitization of these commercial mortgage loans allows retention of the full economics of these assets while being able to pledge these assets as collateral to the Federal Home Loan Bank (FHLB) under the funding agreement program. As substantially all of the activities and economics of Hamlet are conducted on our behalf, we are the primary beneficiary and consolidate Hamlet and the assets are included in mortgage loans on the consolidated balance sheets. Additionally, as Hamlet is in the form of a trust, the commercial mortgage loan assets are included in the pledged assets and funds in trust table in Note 15 – Commitments and Contingencies . No arrangement exists requiring us to provide additional funding in excess of our committed capital investment, liquidity, or the funding of losses or an increase to our loss exposure in excess of our investment in the VIE. We consolidated the following VIEs during the years ended December 31, 2019 and 2018: • AAA Investments (Co-Invest VI), L.P. (CoInvest VI); • AAA Investments (Co-Invest VII), L.P. (CoInvest VII); • AAA Investments (Other), L.P. (CoInvest Other); • ALR Aircraft Investment Ireland Limited (ALR) and • Entities included under our agreement to purchase funds managed by Apollo entities (Strategic Partnership). See Note 14 – Related Parties for further discussion on the Strategic Partnership. We were the only limited partner or holder of profit participating notes in these investment funds and received all of the economic benefits and losses, other than management fees and carried interest, as applicable, paid to the general partner in each entity, or a related entity, which are related parties. We did not have any voting rights as limited partner and, as the limited partner or holder of profit participating notes, did not solely satisfy the power criteria to direct the activities that significantly impact the economics of the VIE. However, the criteria for the primary beneficiary were satisfied by our related party group and, because substantially all of the activities were conducted on our behalf, we consolidated the investment funds. CoInvest VI, CoInvest VII and CoInvest Other were formed to make investments, including co-investments alongside private equity funds sponsored by Apollo. Investments held by CoInvest VI, CoInvest VII and CoInvest Other were related party investments because Apollo affiliates exercised significant influence over the management or operations of the investees. We received our interests in CoInvest VI, CoInvest VII and CoInvest Other as part of a contribution agreement in 2012 with AAA Guarantor – Athene, L.P. (AAA Investor) and its subsidiary, Apollo Life Re Ltd., in order to provide a capital base to support future acquisitions. During the first quarter 2020, as a result of the AGM share transaction discussed further in Note 14 – Related Parties , we reassessed the consolidation conclusions for the following VIEs, which are managed by Apollo affiliates: • CoInvest VI; • CoInvest VII; • CoInvest Other; and • Entities included under the Strategic Partnership. Following the AGM share transaction, we determined that we are no longer the primary beneficiary of CoInvest VI, CoInvest VII, CoInvest Other and the Strategic Partnership, as a result of Apollo receiving significant economics of these entities through their increased economic ownership in us. We did not recognize a gain or loss upon deconsolidation of these previously consolidated VIEs, as the deconsolidated VIEs accounted for their assets and liabilities at fair value. The investments remaining from the deconsolidated VIEs are included at NAV in related party investment funds on the consolidated balance sheets after March 31, 2020. ALR was formed to invest in a joint venture that provides airplane lease financing to a major commercial airline. During the second quarter of 2020, we received final payment on the profit participating notes and no longer consolidate ALR.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value	5. Fair Value Fair value is the price we would receive to sell an asset or pay to transfer a liability (exit price) in an orderly transaction between market participants. We determine fair value based on the following fair value hierarchy: Level 1 – Unadjusted quoted prices for identical assets or liabilities in an active market. Level 2 – Quoted prices for inactive markets or valuation techniques that require observable direct or indirect inputs for substantially the full term of the asset or liability. Level 2 inputs include the following: • Quoted prices for similar assets or liabilities in active markets, • Observable inputs other than quoted market prices, and • Observable inputs derived principally from market data through correlation or other means. Level 3 – Prices or valuation techniques with unobservable inputs significant to the overall fair value estimate. These valuations use critical assumptions not readily available to market participants. Level 3 valuations are based on market standard valuation methodologies, including discounted cash flows, matrix pricing or other similar techniques. NAV – Investment funds are typically measured using NAV as a practical expedient in determining fair value and are not classified in the fair value hierarchy. The underlying investments of the investment funds may have significant unobservable inputs, which may include but are not limited to, comparable multiples and weighted average cost of capital rates applied in valuation models or a discounted cash flow model. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the instrument’s fair value measurement. We use a number of valuation sources to determine fair values. Valuation sources can include quoted market prices; third-party commercial pricing services; third-party brokers; industry-standard, vendor modeling software that uses market observable inputs; and other internal modeling techniques based on projected cash flows. We periodically review the assumptions and inputs of third-party commercial pricing services through internal valuation price variance reviews, comparisons to internal pricing models, back testing to recent trades, or monitoring trading volumes. The following represents the hierarchy for our assets and liabilities measured at fair value on a recurring basis: December 31, 2020 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 351 $ — $ 332 $ 19 $ — US state, municipal and political subdivisions 1,033 — — 999 34 Foreign governments 368 — — 366 2 Corporate 58,180 — — 57,402 778 CLO 9,569 — — 9,361 208 ABS 4,270 — — 3,470 800 CMBS 2,169 — — 2,126 43 RMBS 6,913 — — 6,913 — Total AFS securities 82,853 — 332 80,656 1,865 Trading securities US government and agencies 6 — 3 3 — US state, municipal and political subdivisions 106 — — 106 — Corporate 1,577 — — 1,577 — CLO 4 — — — 4 ABS 128 — — 93 35 CMBS 52 — — 52 — RMBS 220 — — 173 47 Total trading securities 2,093 — 3 2,004 86 Equity securities 330 — 57 262 11 Mortgage loans 19 — — — 19 Investment funds 161 144 — — 17 Funds withheld at interest – embedded derivative 1,944 — — — 1,944 Derivative assets 3,523 — 58 3,465 — Short-term investments 222 — 146 74 2 Other investments 105 — — 105 — Cash and cash equivalents 7,704 — 7,704 — — Restricted cash 738 — 738 — — Investments in related parties AFS securities Corporate 215 — — 20 195 CLO 1,520 — — 1,520 — ABS 4,785 — — 676 4,109 Total AFS securities – related party 6,520 — — 2,216 4,304 Trading securities CLO 54 — — 4 50 ABS 1,475 — — — 1,475 Total trading securities – related party 1,529 — — 4 1,525 Equity securities 72 — — — 72 Investment funds 2,119 86 — — 2,033 Funds withheld at interest – embedded derivative 862 — — — 862 Reinsurance recoverable 2,100 — — — 2,100 Total assets measured at fair value $ 112,894 $ 230 $ 9,038 $ 88,786 $ 14,840 (Continued) December 31, 2020 (In millions) Total NAV Level 1 Level 2 Level 3 Liabilities Interest sensitive contract liabilities Embedded derivative $ 12,873 $ — $ — $ — $ 12,873 Universal life benefits 1,308 — — — 1,308 Future policy benefits AmerUs Closed Block 1,600 — — — 1,600 ILICO Closed Block and life benefits 776 — — — 776 Derivative liabilities 298 — 2 292 4 Funds withheld liability – embedded derivative 59 — — 59 — Total liabilities measured at fair value $ 16,914 $ — $ 2 $ 351 $ 16,561 (Concluded) December 31, 2019 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 36 $ — $ 36 $ — $ — US state, municipal and political subdivisions 1,541 — — 1,501 40 Foreign governments 327 — — 327 — Corporate 47,228 — — 46,503 725 CLO 7,349 — — 7,228 121 ABS 5,118 — — 3,744 1,374 CMBS 2,400 — — 2,354 46 RMBS 7,375 — — 7,375 — Total AFS securities 71,374 — 36 69,032 2,306 Trading securities US government and agencies 11 — 8 3 — US state, municipal and political subdivisions 135 — — 135 — Corporate 1,456 — — 1,456 — CLO 6 — — — 6 ABS 108 — — 92 16 CMBS 51 — — 51 — RMBS 303 — — 251 52 Total trading securities 2,070 — 8 1,988 74 Equity securities 247 — 43 201 3 Mortgage loans 27 — — — 27 Investment funds 154 132 — — 22 Funds withheld at interest – embedded derivative 801 — — — 801 Derivative assets 2,888 — 10 2,878 — Short-term investments 406 — 46 319 41 Other investments 93 — — 93 — Cash and cash equivalents 4,240 — 4,240 — — Restricted cash 402 — 402 — — (Continued) December 31, 2019 (In millions) Total NAV Level 1 Level 2 Level 3 Investments in related parties AFS securities Corporate 19 — — 19 — CLO 936 — — 936 — ABS 2,849 — — 525 2,324 Total AFS securities – related party 3,804 — — 1,480 2,324 Trading securities CLO 74 — — 36 38 ABS 711 — — — 711 Total trading securities – related party 785 — — 36 749 Equity securities 64 — — — 64 Investment funds 819 687 — — 132 Funds withheld at interest – embedded derivative 594 — — — 594 Reinsurance recoverable 1,821 — — — 1,821 Total assets measured at fair value $ 90,589 $ 819 $ 4,785 $ 76,027 $ 8,958 Liabilities Interest sensitive contract liabilities Embedded derivative $ 10,942 $ — $ — $ — $ 10,942 Universal life benefits 1,050 — — — 1,050 Future policy benefits AmerUs Closed Block 1,546 — — — 1,546 ILICO Closed Block and life benefits 755 — — — 755 Derivative liabilities 97 — 1 93 3 Funds withheld liability – embedded derivative 31 — — 31 — Total liabilities measured at fair value $ 14,421 $ — $ 1 $ 124 $ 14,296 (Concluded) Fair Value Valuation Methods —We used the following valuation methods and assumptions to estimate fair value: AFS and trading securities – We obtain the fair value for most marketable securities without an active market from several commercial pricing services. These are classified as Level 2 assets. The pricing services incorporate a variety of market observable information in their valuation techniques, including benchmark yields, trading activity, credit quality, issuer spreads, bids, offers and other reference data. This category typically includes US and non-US corporate bonds, US agency and government guaranteed securities, CLO, ABS, CMBS and RMBS. We also have fixed maturity securities priced based on indicative broker quotes or by employing market accepted valuation models. For certain fixed maturity securities, the valuation model uses significant unobservable inputs and are included in Level 3 in our fair value hierarchy. Significant unobservable inputs used include: discount rates, issue specific credit adjustments, material non-public financial information, estimation of future earnings and cash flows, default rate assumptions, liquidity assumptions and indicative quotes from market makers. These inputs are usually considered unobservable, as not all market participants have access to this data. We value privately placed fixed maturity securities based on the credit quality and duration of comparable marketable securities, which may be securities of another issuer with similar characteristics. In some instances, we use a matrix-based pricing model. These models consider the current level of risk-free interest rates, corporate spreads, credit quality of the issuer and cash flow characteristics of the security. We also consider additional factors such as net worth of the borrower, value of collateral, capital structure of the borrower, presence of guarantees and our evaluation of the borrower’s ability to compete in its relevant market. Privately placed fixed maturity securities are classified as Level 2 or 3. Equity securities – Fair values of publicly traded equity securities are based on quoted market prices and classified as Level 1. Other equity securities, typically private equities or equity securities not traded on an exchange, we value based on other sources, such as commercial pricing services or brokers, and are classified as Level 2 or 3. Mortgage loans – Mortgage loans for which we have elected the fair value option or those held for sale are carried at fair value. We estimate fair value on a monthly basis using discounted cash flow analysis and rates being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The discounted cash flow model uses unobservable inputs, including estimates of discount rates and loan prepayments. Mortgage loans are classified as Level 3. Investment funds – Certain investment funds for which we elected the fair value option are included in Level 3 and are priced based on market accepted valuation models. The valuation models use significant unobservable inputs, which include material non-public financial information, estimation of future distributable earnings and demographic assumptions. These inputs are usually considered unobservable, as not all market participants have access to this data. Funds withheld at interest embedded derivative – We estimate the fair value of the embedded derivative based on the change in the fair value of the assets supporting the funds withheld payable under modco and funds withheld reinsurance agreements. As a result, the fair value of the embedded derivative is classified as Level 2 or 3 based on the valuation methods used for the assets held supporting the reinsurance agreements. Derivatives – Derivative contracts can be exchange traded or over-the-counter. Exchange-traded derivatives typically fall within Level 1 of the fair value hierarchy depending on trading activity. Over-the-counter derivatives are valued using valuation models or an income approach using third-party broker valuations. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, prepayment rates and correlation of the inputs. We consider and incorporate counterparty credit risk in the valuation process through counterparty credit rating requirements and monitoring of overall exposure. We also evaluate and include our own nonperformance risk in valuing derivatives. The majority of our derivatives trade in liquid markets; therefore, we can verify model inputs and model selection does not involve significant management judgment. These are typically classified within Level 2 of the fair value hierarchy. Cash and cash equivalents, including restricted cash – The carrying amount for cash equals fair value. We estimate the fair value for cash equivalents based on quoted market prices. These assets are classified as Level 1. Interest sensitive contract liabilities embedded derivative – Embedded derivatives related to interest sensitive contract liabilities with fixed indexed annuity products are classified as Level 3. The valuations include significant unobservable inputs associated with economic assumptions and actuarial assumptions for policyholder behavior. AmerUs Closed Block – We elected the fair value option for the future policy benefits liability in the AmerUs Closed Block. Our valuation technique is to set the fair value of policyholder liabilities equal to the fair value of assets. There is an additional component which captures the fair value of the open block’s obligations to the closed block business. This component is the present value of the projected release of required capital and future earnings before income taxes on required capital supporting the AmerUs Closed Block, discounted at a rate which represents a market participant’s required rate of return, less the initial required capital. Unobservable inputs include estimates for these items. The AmerUs Closed Block policyholder liabilities and any corresponding reinsurance recoverable are classified as Level 3. ILICO Closed Block – We elected the fair value option for the ILICO Closed Block. Our valuation technique is to set the fair value of policyholder liabilities equal to the fair value of assets. There is an additional component which captures the fair value of the open block’s obligations to the closed block business. This component uses the present value of future cash flows which include commissions, administrative expenses, reinsurance premiums and benefits, and an explicit cost of capital. The discount rate includes a margin to reflect the business and nonperformance risk. Unobservable inputs include estimates for these items. The ILICO Closed Block policyholder liabilities and corresponding reinsurance recoverable are classified as Level 3. Universal life liabilities and other life benefits – We elected the fair value option for certain blocks of universal and other life business ceded to Global Atlantic. We use a present value of liability cash flows. Unobservable inputs include estimates of mortality, persistency, expenses, premium payments and a risk margin used in the discount rates that reflects the riskiness of the business. These universal life policyholder liabilities and corresponding reinsurance recoverable are classified as Level 3. Fair Value Option — The following represents the gains (losses) recorded for instruments for which we have elected the fair value option, including related parties: Years ended December 31, (In millions) 2020 2019 2018 Trading securities $ 33 $ 151 $ (254) Investment funds 295 (3) 37 Future policy benefits (54) (103) 182 Total gains (losses) $ 274 $ 45 $ (35) Gains and losses on trading securities are recorded in investment related gains (losses) on the consolidated statements of income. For fair valu e option mortgage loans, we record interest income in net investment income and subsequent changes in fair value in investment related gains (losses) on the consolidated statements of income. Gains and losses related to investment funds, including related party investment funds, are recorded in net investment income on the consolidated statements of income. We record the change in fair value of future policy benefits to future policy and other policy benefits on the consolidated statements of income. The following summarizes information for fair value option mortgage loans: December 31, (In millions) 2020 2019 Unpaid principal balance $ 17 $ 25 Mark to fair value 2 2 Fair value $ 19 $ 27 There were no fair value option mortgage loans 90 days or more past due as of December 31, 2020 and 2019. Level 3 Financial Instruments — The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis: Year ended December 31, 2020 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities US state, municipal and political subdivisions $ 40 $ — $ — $ (6) $ — $ 34 $ — $ — Foreign governments — — — 2 — 2 — — Corporate 725 10 5 10 28 778 — 5 CLO 121 — — 109 (22) 208 — — ABS 1,374 20 (48) (282) (264) 800 — (47) CMBS 46 (4) (5) (5) 11 43 — (4) Trading securities CLO 6 (2) — — — 4 — — ABS 16 — — 19 — 35 — — RMBS 52 (9) — — 4 47 2 — Equity securities 3 3 — 5 — 11 3 — Mortgage loans 27 — — (8) — 19 — — Investment funds 22 (5) — — — 17 (5) — Funds withheld at interest – embedded derivative 801 1,143 — — — 1,944 — — Short-term investments 41 — — (39) — 2 — — Investments in related parties AFS securities Corporate — — — 195 — 195 — — ABS 2,324 24 37 1,889 (165) 4,109 — 37 Trading securities CLO 38 (13) — 14 11 50 (9) — ABS 711 (13) — 777 — 1,475 (14) — Equity securities 64 1 — 12 (5) 72 1 — Investment funds 132 298 — 1,603 — 2,033 122 — Funds withheld at interest – embedded derivative 594 268 — — — 862 — — Reinsurance recoverable 1,821 279 — — — 2,100 — — Total Level 3 assets $ 8,958 $ 2,000 $ (11) $ 4,295 $ (402) $ 14,840 $ 100 $ (9) Liabilities Interest sensitive contract liabilities Embedded derivative $ (10,942) $ (1,384) $ — $ (547) $ — $ (12,873) $ — $ — Universal life benefits (1,050) (258) — — — (1,308) — — Future policy benefits AmerUs Closed Block (1,546) (54) — — — (1,600) — — ILICO Closed Block and life benefits (755) (21) — — — (776) — — Derivative liabilities (3) (1) — — — (4) (1) — Total Level 3 liabilities $ (14,296) $ (1,718) $ — $ (547) $ — $ (16,561) $ (1) $ — 1 Related to instruments held at end of period. Year ended December 31, 2019 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Assets AFS securities US state, municipal and political subdivisions $ — $ — $ — $ 40 $ — $ 40 $ — Corporate 898 14 12 (61) (138) 725 — CLO 107 — 3 50 (39) 121 — ABS 1,615 7 32 120 (400) 1,374 — CMBS 187 2 7 (131) (19) 46 — RMBS 56 2 2 (13) (47) — — Trading securities CLO 1 — — — 5 6 6 ABS — — — (9) 25 16 — RMBS 134 (21) — 10 (71) 52 1 Equity securities 3 — — — — 3 — Mortgage loans 32 — — (5) — 27 — Investment funds 29 (3) — (4) — 22 (3) Funds withheld at interest – embedded derivative 57 744 — — — 801 — Short-term investments — — — 41 — 41 — Investments in related parties AFS securities, ABS 328 2 22 2,076 (104) 2,324 — Trading securities CLO 113 (7) — (49) (19) 38 3 ABS 149 (14) — 473 103 711 (6) Equity securities 133 (2) — (67) — 64 (1) Investment funds 120 7 — 19 (14) 132 7 Funds withheld at interest – embedded derivative (110) 704 — — — 594 — Reinsurance recoverable 1,676 145 — — — 1,821 — Total Level 3 assets $ 5,528 $ 1,580 $ 78 $ 2,490 $ (718) $ 8,958 $ 7 Liabilities Interest sensitive contract liabilities Embedded derivative $ (7,969) $ (2,526) $ — $ (447) $ — $ (10,942) $ — Universal life benefits (932) (118) — — — (1,050) — Future policy benefits AmerUs Closed Block (1,443) (103) — — — (1,546) — ILICO Closed Block and life benefits (730) (25) — — — (755) — Derivative liabilities (4) 1 — — — (3) 1 Total Level 3 liabilities $ (11,078) $ (2,771) $ — $ (447) $ — $ (14,296) $ 1 1 Related to instruments held at end of period. The following represents the gross components of purchases, issuances, sales and settlements, net, and net transfers in (out) shown above: Year ended December 31, 2020 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities US state, municipal and political subdivisions $ — $ — $ (5) $ (1) $ (6) $ — $ — $ — Foreign governments 2 — — — 2 — — — Corporate 177 — — (167) 10 69 (41) 28 CLO 145 — (8) (28) 109 — (22) (22) ABS 128 — — (410) (282) 7 (271) (264) CMBS — — (4) (1) (5) 11 — 11 Trading securities ABS 35 — (16) — 19 — — — RMBS — — — — — 5 (1) 4 Equity securities 11 — — (6) 5 — — — Mortgage loans — — — (8) (8) — — — Short-term investments 3 — (7) (35) (39) — — — Investments in related parties AFS securities Corporate 195 — — — 195 — — — ABS 2,156 — (5) (262) 1,889 — (165) (165) Trading securities CLO 27 — (13) — 14 15 (4) 11 ABS 802 — (11) (14) 777 — — — Equity securities 18 — (1) (5) 12 — (5) (5) Investment funds 1,678 — (75) — 1,603 — — — Total Level 3 assets $ 5,377 $ — $ (145) $ (937) $ 4,295 $ 107 $ (509) $ (402) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (1,188) $ — $ 641 $ (547) $ — $ — $ — Total Level 3 liabilities $ — $ (1,188) $ — $ 641 $ (547) $ — $ — $ — Year ended December 31, 2019 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities US state, municipal and political subdivisions $ 40 $ — $ — $ — $ 40 $ — $ — $ — Corporate 116 — (3) (174) (61) 5 (143) (138) CLO 94 — — (44) 50 — (39) (39) ABS 409 — (172) (117) 120 30 (430) (400) CMBS — — (4) (127) (131) — (19) (19) RMBS 1 — — (14) (13) — (47) (47) Trading securities CLO — — — — — 5 — 5 ABS — — (9) — (9) 25 — 25 RMBS 10 — — — 10 4 (75) (71) Mortgage loans — — — (5) (5) — — — Investment funds — — (4) — (4) — — — Short-term investments 74 — — (33) 41 — — — Investments in related parties AFS securities, ABS 2,207 — — (131) 2,076 — (104) (104) Trading securities CLO — — (49) — (49) 17 (36) (19) ABS 511 — — (38) 473 103 — 103 Equity securities 75 — (5) (137) (67) — — — Investment funds 20 — (1) — 19 — (14) (14) Total Level 3 assets $ 3,557 $ — $ (247) $ (820) $ 2,490 $ 189 $ (907) $ (718) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (937) $ — $ 490 $ (447) $ — $ — $ — Total Level 3 liabilities $ — $ (937) $ — $ 490 $ (447) $ — $ — $ — Significant Unobservable Inputs — Significant unobservable inputs occur when we could not obtain or corroborate the quantitative detail of the inputs. This applies to fixed maturity securities, equity securities, mortgage loans and certain derivatives, as well as embedded derivatives in liabilities. Additional significant unobservable inputs are described below. AFS and trading securities – For certain fixed maturity securities, internal models are used to calculate the fair value. We use a discounted cash flow approach. The discount rate is the significant unobservable input due to the determined credit spread being internally developed, illiquid, or as a result of other adjustments made to the base rate. The base rate represents a market comparable rate for securities with similar characteristics. This excludes assets for which significant unobservable inputs are not developed internally, primarily consisting of broker quotes. Interest sensitive contract liabilities – embedded derivative – Significant unobservable inputs we use in the fixed indexed annuities embedded derivative of the interest sensitive contract liabilities valuation include: 1. Nonperformance risk – For contracts we issue, we use the credit spread, relative to the US Department of the Treasury (Treasury) curve based on our public credit rating as of the valuation date. This represents our credit risk for use in the estimate of the fair value of embedded derivatives. 2. Option budget – We assume future hedge costs in the derivative’s fair value estimate. The level of option budgets determines the future costs of the options and impacts future policyholder account value growth. 3. Policyholder behavior – We regularly review the lapse and withdrawal assumptions (surrender rate). These are based on our initial pricing assumptions updated for actual experience. Actual experience may be limited for recently issued products. The following summarizes the unobservable inputs for AFS and trading securities and the embedded derivatives of fixed indexed annuities: December 31, 2020 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS and trading securities $ 5,858 Discounted cash flow Discount 1.7 % 35.0 % 4.6 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives $ 12,873 Option budget method Nonperformance risk 0.0 % 1.1 % 0.5 % 2 Decrease Option budget 0.6 % 3.5 % 1.9 % 3 Increase Surrender rate 5.3 % 9.5 % 7.1 % 4 Decrease December 31, 2019 Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS and trading securities $ 1,289 Discounted cash flow Discount 3.0 % 9.0 % 6.6 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives $ 10,942 Option budget method Nonperformance risk 0.2 % 1.1 % 0.6 % 2 Decrease Option budget 0.7 % 3.7 % 1.9 % 3 Increase Surrender rate 3.5 % 8.1 % 7.1 % 4 Decrease 1 The discount weighted average is calculated based on the relative fair values of the securities. 2 The nonperformance risk weighted average is based on the projected excess benefits of reserves used in the calculation of the embedded derivative. 3 The option budget weighted average is calculated based on the indexed account values. 4 The surrender rate weighted average is calculated based on projected account values. Financial Instruments Without Readily Determinable Fair Values —We have elected the measurement alternative for certain equity securities that do not have a readily determinable fair value. The equity securities are held at cost less any impairment. The carrying amount of the equity securities was $202 million, with an impairment of $231 million as of December 31, 2020. In connection with preparing our annual financial statements and as a result of adverse changes in the market, economic indicators, and a deterioration of the earnings performance of the investee, we recorded an impairment of $231 million in the fourth quarter of 2020. Fair Value of Financial Instruments Not Carried at Fair Value — The following represents our financial instruments not carried at fair value on the consolidated balance sheets: December 31, 2020 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Mortgage loans $ 15,245 $ 15,811 $ — $ — $ — $ 15,811 Investment funds 642 642 642 — — — Policy loans 369 369 — — 369 — Funds withheld at interest 46,668 46,668 — — — 46,668 Other investments 467 471 — — — 471 Investments in related parties Mortgage loans 674 694 — — — 694 Investment funds 3,165 3,165 3,165 — — — Funds withheld at interest 12,168 12,168 — — — 12,168 Other investments 469 499 — — — 499 Total financial assets not carried at fair value $ 79,867 $ 80,487 $ 3,807 $ — $ 369 $ 76,311 Financial liabilities Interest sensitive contract liabilities $ 94,685 $ 98,945 $ — $ — $ — $ 98,945 Long-term debt 1,976 2,259 — — 2,259 — Securities to repurchase 598 598 — — 598 — Funds withheld liability 393 393 — — 393 — Total financial liabilities not carried at fair value $ 97,652 $ 102,195 $ — $ — $ 3,250 $ 98,945 December 31, 2019 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Mortgage loans $ 14,279 $ 14,719 $ — $ — $ — $ 14,719 Investment funds 596 596 596 — — — Policy loans 417 417 — — 417 — Funds withheld at interest 14,380 14,380 — — — 14,380 Short-term investments 190 190 — — — 190 Other investments 65 65 — — — 65 Investments in related parties Mortgage loans 653 641 — — — 641 Investment funds 2,731 2,731 2,731 — — — Funds withheld at interest 12,626 12,626 — — — 12,626 Other investments 487 537 — — — 537 Total financial assets not carried at fair value $ 46,424 $ 46,902 $ 3,327 $ — $ 417 $ 43,158 Financial liabilities Interest sensitive contract liabilities $ 57,272 $ 58,027 $ — $ — $ — $ 58,027 Short-term debt 475 475 — — 475 — Long-term debt 992 1,036 — — 1,036 — Securities to repurchase 512 512 — — 512 — Funds withheld liability 377 377 — — 377 — Total financial liabilities not carried at fair value $ 59,628 $ 60,427 $ — $ — $ 2,400 $ 58,027 We estimate the fair value for financial instruments not carried at fair value using the same methods and assumptions as those we carry at fair value. The financial instruments presented above are reported at carrying value on the consolidated balance sheets; however, in the case of policy loans, funds withheld at interest and liability, short-term investments, short-term debt and securities to repurchase, the carrying amount approximates fair value. Other investments – The fair value of other investments is determined using a discounted cash flow model using discount rates for similar investments. Interest sensitive contract liabilities – The carrying and fair value of interest sensitive contract liabilities above includes fixed indexed and traditional fixed annuities without mortality or morbidity risks, funding agreements and payout annuities without life contingencies. The embedded derivatives within fixed indexed annuities without mortality or morbidity risks are excluded, as they are carried at fair value. The valuation of these investment contracts is based on discounted cash flow methodologies using significant unobservable inputs. The estimated fair value is determined using current market risk-free interest rates, adding a spread to reflect our nonperformance risk and subtracting a risk margin to reflect uncertainty inherent in the projected cash flows. Long-term debt – We obtain the fair value of long-term debt from commercial pricing services. These are classified as Level 2. The pricing services incorporate a variety of market observable information in their valuation techniques, including benchmark yields, trading activity, credit quality, issuer spreads, bids, offers and other reference data.

Reinsurance

Reinsurance	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Reinsurance	6. Reinsurance The following summarizes the effect of reinsurance on premiums and future policy and other policy benefits on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Premiums Direct $ 5,691 $ 5,449 $ 2,813 Reinsurance assumed 413 1,092 1,066 Reinsurance ceded (141) (159) (417) Total premiums $ 5,963 $ 6,382 $ 3,462 Future policy and other policy benefits Direct $ 7,016 $ 6,697 $ 3,739 Reinsurance assumed 522 1,223 1,093 Reinsurance ceded (351) (333) (551) Total future policy and other policy benefits $ 7,187 $ 7,587 $ 4,281 Reinsurance typically provides for recapture rights on the part of the ceding company for certain events of default. Additionally, some agreements require us to place assets in trust accounts for the benefit of the ceding entity. The required minimum assets are equal to or greater than statutory reserves, as defined by the agreement, and were $6,538 million and $8,377 million as of December 31, 2020 and 2019 , respectively. Although we own the assets placed in trust, their use is restricted based on the trust agreement terms. If the statutory book value of the assets, or in certain cases fair value, in a trust declines because of impairments or other reasons, we may be required to contribute additional assets to the trust. In addition, the assets within a trust may be subject to a pledge in favor of the applicable reinsurance company. Reinsurance transactions We have entered into various coinsurance and modco agreements to reinsure blocks of fixed deferred and fixed indexed and PRT annuities. The following summarizes those agreements at inception: Years ended December 31, (In millions) 2020 2019 2018 Liabilities assumed $ 27,439 $ 791 $ 27,238 Less: Assets received 28,805 818 26,255 Ceding commission paid — — (660) Net cost of reinsurance $ (1,366) $ (27) $ 1,643 DAC $ — $ — $ 1,777 Unearned revenue reserve 1 (1,366) — (69) Deferred profit liability 2 — (27) (65) Net cost of reinsurance $ (1,366) $ (27) $ 1,643 1 Included within interest sensitive contract liabilities on the consolidated balance sheets. 2 Included within future policy benefits on the consolidated balance sheets. DAC and unearned revenue reserve balances are amortized over the life of the reinsurance agreements on a basis consistent with our DAC amortization policy. The deferred profit liability balance is amortized over the life of the reinsurance agreement on a constant relationship to the benefit reserves. Certain of these reinsurance agreements were with related parties. See Note 14 – Related Parties for further information. Effective July 1, 2020, we restructured our reinsurance agreement with Mass Mutual Life Insurance Company (MassMutual). MassMutual recaptured the existing coinsurance agreement and we immediately entered into a new funds withheld coinsurance agreement with our ALRe subsidiary. As a result, we recorded a $5,021 million increase in funds withheld at interest and a corresponding decrease in assets, primarily consisting of investments and cash. Global Atlantic – We have a 100% coinsurance and assumption agreement with Global Atlantic. The agreement ceded all existing open block life insurance business issued by Athene Annuity and Life Company (AAIA), with the exception of enhanced guarantee universal life insurance products. We also entered into a 100% coinsurance agreement with Global Atlantic to cede all policy liabilities of the ILICO Closed Block. The ILICO Closed Block consists primarily of participating whole life insurance policies. We also have an excess of loss arrangement with Global Atlantic to reimburse us for any payments required from our general assets to meet the contractual obligations of the AmerUs Closed Block not covered by existing reinsurance through Athene Re USA IV. The AmerUs Closed Block consists primarily of participating whole life insurance policies. Since all liabilities were covered by the existing reinsurance at close, no reinsurance premiums were ceded. The assets backing the AmerUs Closed Block are managed, on AAIA’s behalf, by Goldman Sachs Asset Management, an affiliate of Global Atlantic. As of December 31, 2020 and 2019 , Global Atlantic maintained a series of trust and custody accounts under the terms of these agreements with assets equal to or greater than a required aggregate statutory balance of $3,022 million and $3,478 million, respectively. Protective Life Insurance Company (Protective) – We reinsured substantially all of the existing life and health business of Athene Annuity & Life Assurance Company (AADE) to Protective under a coinsurance agreement in 2011. As of December 31, 2020 and 2019 , Protective maintained a trust for our benefit with assets having a fair value of $1,722 million and $1,640 million, respectively. Novations —We have novated certain open blocks of business ceded to Global Atlantic, in accordance with the terms of the coinsurance and assumption agreement. Additionally, during the year ended December 31, 2019, we novated the reinsurance agreement for blocks of endowment contracts and annuities assumed from Athora Lebensversicherung AG (ALV) to Athora Life Re Ltd. (ARE). The below table summarizes the decreases in amounts on the consolidated balance sheets as a result of the novations. Years ended December 31, (In millions) 2020 2019 Interest sensitive contract liabilities $ 148 $ 407 Future policy benefits 52 305 Funds withheld liability — 347 Investments, excluding policy loans — 320 Policy loans 23 38 Reinsurance recoverable 177 674 Other assets (liabilities), net — 27 Reinsurance Recoverables —The following summarizes our reinsurance recoverable from the following: December 31, (In millions) 2020 2019 Global Atlantic $ 3,108 $ 2,981 Protective 1,558 1,605 Other 1 182 277 Reinsurance recoverable $ 4,848 $ 4,863 1 Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total recoverable.

Deferred Acquisition Costs, Def

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired	7. Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired The following represents a rollforward of DAC, DSI and VOBA: (In millions) DAC DSI VOBA Total Balance at December 31, 2017 $ 1,375 $ 520 $ 1,077 $ 2,972 Additions 2,481 264 — 2,745 Unlocking 21 7 54 82 Amortization (108) (61) (141) (310) Impact of unrealized investment (gains) losses 152 69 197 418 Balance at December 31, 2018 3,921 799 1,187 5,907 Additions 645 226 — 871 Unlocking (117) (9) (24) (150) Amortization (749) (65) (68) (882) Impact of unrealized investment (gains) losses (426) (131) (181) (738) Balance at December 31, 2019 3,274 820 914 5,008 Adoption of accounting standard 12 5 5 22 Additions 633 178 — 811 Unlocking (36) (13) (11) (60) Amortization (414) (53) (60) (527) Impact of unrealized investment (gains) losses (233) (80) (35) (348) Balance at December 31, 2020 $ 3,236 $ 857 $ 813 $ 4,906 The expected amortization of VOBA for the next five years is as follows: (In millions) Expected Amortization 2021 $ 86 2022 78 2023 73 2024 67 2025 64

Closed Block

Closed Block	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Closed Block	8. Closed Block We pay guaranteed benefits under all policies included in the Closed Blocks. In the event the performance of the Closed Blocks’ assets is insufficient to maintain dividend scales and interest credits, we may reduce the policyholder dividend scales. In the event dividends have been reduced to zero and the Closed Blocks’ assets remain insufficient to fund the Closed Blocks’ guaranteed benefits, we would use assets supporting open block policies or surplus to meet the contractual benefits of the Closed Blocks’ policyholders. The ILICO Closed Block has been ceded to Global Atlantic. Therefore, Global Atlantic would be required to provide funding for any asset insufficiency related to the ILICO Closed Block. Additionally, the AmerUs Closed Block has a letter of credit and tail risk reinsurance agreement in place that limits our exposure to potential asset insufficiency. We elected the fair value option for the AmerUs Closed Block. The fair value of liabilities of the AmerUs Closed Block was derived at election as the sum of the fair value of the AmerUs Closed Block assets plus our cost of capital in the AmerUs Closed Block. The cost of capital was then determined to be the present value of the projected release of required capital and future after tax earnings on required capital supporting the AmerUs Closed Block, discounted at a rate which represents a market participant’s required rate of return, less the initial required capital. At each reporting period, we record the fair value of the AmerUs Closed Block by adjusting the change in liabilities, exclusive of the cost of capital, to equal the change in assets. We do not record additional policyholder dividend obligations, as there are no future GAAP earnings available to the policyholders. The excess of the fair value of the liabilities over the fair value of the assets represents our cost of capital in the AmerUs Closed Block. The maximum amount of future earnings from the assets and liabilities of the AmerUs Closed Block is represented by the reduction in the cost of capital in future years based on the operations of the AmerUs Closed Block and recalculation of the cost of capital each reporting period. Summarized financial information of the AmerUs Closed Block is presented below. December 31, (In millions) 2020 2019 Liabilities Future policy benefits $ 1,600 $ 1,546 Other policy claims and benefits 15 18 Dividends payable to policyholders 84 87 Total liabilities 1,699 1,651 Assets Trading securities 1,431 1,353 Mortgage loans, net of allowances 19 27 Policy loans 124 139 Total investments 1,574 1,519 Cash and cash equivalents 35 30 Accrued investment income 44 44 Reinsurance recoverable 16 19 Other assets 2 9 Total assets 1,671 1,621 Maximum future earnings to be recognized from AmerUs Closed Block $ 28 $ 30 The following represents the contribution from AmerUs Closed Block. Years ended December 31, (In millions) 2020 2019 2018 Revenues Premiums $ 48 $ 54 $ 48 Net investment income 71 74 77 Investment related gains (losses) 99 147 (118) Total revenues 218 275 7 Benefits and Expenses Future policy and other policy benefits 177 234 (49) Dividends to policyholders 38 36 36 Total benefits and expenses 215 270 (13) Contribution from AmerUs Closed Block before income taxes 3 5 20 Income tax expense (benefit) 1 (1) — Contribution from AmerUs Closed Block, net of income taxes $ 2 $ 6 $ 20

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	9. Debt Credit Facility —We have a revolving credit agreement with Citibank, N.A. as administrative agent, which matures on December 3, 2024, subject to up to two one-year extensions (Credit Facility). The borrowing capacity under the Credit Facility is $1.25 billion, with potential increases up to $1.75 billion. In connection with the Credit Facility, AHL and AUSA guaranteed all of the obligations of AHL, ALRe, Athene Annuity Re Ltd. (AARe) and AUSA under this facility, and ALRe and AARe guaranteed certain of the obligations of AHL, ALRe, AARe and AUSA under this facility. The Credit Facility contains various standard covenants with which we must comply, including the following: 1. Consolidated debt to capitalization ratio of not greater than 35%; 2. Minimum consolidated net worth of no less than $7.3 billion; and 3. Restrictions on our ability to incur debt and liens, in each case with certain exceptions. As of December 31, 2020 and 2019, we had no amounts outstanding under the Credit Facility and were in compliance with all covenants under the facility. Interest accrues on outstanding borrowings at either the Eurodollar Rate (as defined in the Credit Facility) plus a margin or a base rate plus a margin, with the applicable margin varying based on AHL’s Debt Rating (as defined in the Credit Facility). The Credit Facility has a commitment fee that is determined by reference to AHL’s Debt Rating, and ranges from 0.10% to 0.30% of the undrawn commitment. As of December 31, 2020 and 2019, the commitment fee was 0.15% of the undrawn commitment. Senior Notes —The following is a summary of our senior notes: Issue date January 12, 2018 April 3, 2020 October 8, 2020 Principal balance (in millions) $ 1,000 $ 500 $ 500 Interest rate 4.125 % 6.150 % 3.500 % Maturity date January 12, 2028 April 3, 2030 January 15, 2031 The senior notes are callable by AHL at any time prior to three months before the scheduled maturity date, at a price equal to the greater of (1) 100% of the principal and any accrued and unpaid interest and (2) an amount equal to the sum of the present values of remaining scheduled payments, discounted from the scheduled payment date to the redemption date treasury rate plus a spread as defined in the applicable prospectus supplement and any accrued and unpaid interest. Interest expense on long-term debt was $69 million, $42 million and $41 million for the years ended December 31, 2020, 2019 and 2018, respectively. Short-term Borrowings —In the fourth quarter of 2019, we borrowed $475 million from the FHLB through their variable rate short-term federal funds program. During the first quarter of 2020, $75 million of the short-term borrowings matured. In the second quarter of 2020, the remaining $400 million of short-term borrowings were converted to funding agreements with the FHLB. See Note 15 – Commitments and Contingencies for further discussion regarding existing collateral posting with the FHLB.

Equity

Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Common Stock	10. Equity Preferred Stock— We have four series of preferred stock: 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares, Series A (Series A); 5.625% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series B (Series B); 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Shares, Series C (Series C); and 4.875% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series D (Series D) as summarized below: Series A Series B Series C Series D Issue date June 10, 2019 September 19, 2019 June 11, 2020 December 18, 2020 Authorized, issued and outstanding 34,500 13,800 24,000 23,000 Liquidation preference per share $ 25,000 $ 25,000 $ 25,000 $ 25,000 The following summarizes dividends declared and paid per preferred stock share by series: Years ended December 31, (Per share) 2020 2019 2018 Series A $ 1,587.51 $ 881.95 $ — Series B 1,406.25 394.53 — Series C 880.99 — — Series D — — — The following summarizes dividends declared and paid in the aggregate on the preferred stock by series: Years ended December 31, (In millions) 2020 2019 2018 Series A $ 55 $ 31 $ — Series B 19 5 — Series C 21 — — Series D — — — Total dividends declared and paid $ 95 $ 36 $ — Preferred stock dividends are payable on a non-cumulative basis only when, as and if declared, quarterly in arrears on the 30 th day of March, June, September and December of each year. Preferred stock ranks senior to our common stock with respect to dividends, to the extent declared, and in liquidation, to the extent of the liquidation preference. Common Stock— Our bye-laws place certain restrictions on Class A shares such that a holder of Class A shares, except for shareholders permitted by our board of directors, which include members of the Apollo Group, as defined in our bye-laws, cannot control greater than 9.9% of the total outstanding vote and if a holder of Class A shares were to control greater than 9.9%, then such holder’s voting power is automatically reduced to 9.9% and the other holders of Class A shares would vote the remainder on a prorated basis. During the first quarter of 2020, shareholders approved amendments to our bye-laws which eliminated our multi-class share structure at the closing of the share transaction with AGM. Class B shares outstanding were converted to Class A shares on a one-to-one basis. Class M shares outstanding were converted to Class A shares representing 5% of the Class M value and warrants representing 95% of the Class M value. The warrants were issued with substantially the same terms, including the same economic terms, as the Class M shares. As of December 31, 2020, we had 8.4 million warrants outstanding with a weighted average conversion price of $18.27. See Note 14 – Related Parties for further information on this transaction. Prior to this transaction, we had six classes of common stock: Class A, Class B, Class M-1, Class M-2, Class M-3 and Class M-4. The Class M-1, Class M-2, Class M-3 and Class M-4 shares were collectively referred to as Class M shares. Class A shares collectively represented 55% of the total voting power of the Company. Class B shares collectively represented the remaining 45% of the total voting power of the Company, and were beneficially owned by shareholders who were members of the Apollo Group, as defined in our bye-laws. Class B shares were convertible to Class A shares on a one-to-one basis at any time upon notice to us. Class M shares were restricted, non-voting shares previously issued under equity incentive plans. Class M shares functioned similar to options in that they were exchangeable into Class A shares upon payment of a conversion price and satisfaction of other conditions, including vesting conditions. Share Repurchase Authorizations Our board of directors has approved authorizations of $1,567 million for the repurchase of our Class A shares under our repurchase program. We may repurchase shares in open market transactions, in privately negotiated transactions or otherwise. The size and timing of repurchases will depend on legal requirements, market and economic conditions and other factors, and are solely at our discretion. The program has no expiration date, but may be modified, suspended or terminated by the board at any time. The following summarizes the activity on our share repurchase authorizations: Years ended December 31, (In millions) 2020 2019 2018 Beginning balance $ 640 $ 150 $ — Authorizations — 1,317 250 Repurchases (419) (827) (100) Ending balance $ 221 $ 640 $ 150 As of December 31, 2020, we had $407 million of capital stock authorized which remains undesignated. The table below shows the changes in each class of shares issued and outstanding: Years ended December 31, (In millions) 2020 2019 2018 Class A Beginning balance 143.2 162.4 142.4 Issued shares 36.0 0.7 0.6 Forfeited shares (0.1) (0.1) — Repurchased shares (13.3) (19.8) (2.6) Converted from Class B shares 25.4 — 22.0 Converted from Class M 0.3 — — Ending balance 191.5 143.2 162.4 Class B Beginning balance 25.4 25.4 47.4 Converted to Class A shares (25.4) — (22.0) Ending balance — 25.4 25.4 Class M-1 Beginning balance 3.3 3.4 3.4 Converted to Class A shares (0.2) (0.1) — Converted to warrants (3.1) — — Ending balance — 3.3 3.4 Class M-2 Beginning balance 0.8 0.8 0.9 Converted to Class A shares 0.0 — (0.1) Converted to warrants (0.8) — — Ending balance — 0.8 0.8 Class M-3 Beginning balance 1.0 1.0 1.1 Converted to Class A shares 0.0 — (0.1) Converted to warrants (1.0) — — Ending balance — 1.0 1.0 Class M-4 Beginning balance 4.0 4.1 4.7 Converted to Class A shares (0.1) (0.1) (0.5) Converted to warrants (3.6) — — Repurchased shares (0.3) — (0.1) Ending balance — 4.0 4.1 Acc umulated Other Comprehensive Income (Loss)— The following provides the details and changes in AOCI: (In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance DAC, DSI, VOBA and future policy benefits adjustments on AFS securities Unrealized gains (losses) on hedging instruments Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at December 31, 2017 $ 2,089 $ — $ (568) $ (76) $ 4 $ 1,449 Adoption of accounting standards (46) — 4 — — (42) Other comprehensive income (loss) before reclassifications (3,300) — 852 146 (8) (2,310) Less: Reclassification adjustments for gains (losses) realized in net income 1 1 — (1) — — — Less: Income tax expense (benefit) (630) — 168 31 — (431) Balance at December 31, 2018 (628) — 121 39 (4) (472) Other comprehensive income (loss) before reclassifications 4,929 — (1,322) 29 1 3,637 Less: Reclassification adjustments for gains (losses) realized in net income 1 225 — (56) — — 169 Less: Income tax expense (benefit) 958 — (266) 6 — 698 Less: Other comprehensive income attributable to NCI, net of subsidiary issuance of equity interests and tax 16 — — 1 — 17 Balance at December 31, 2019 3,102 — (879) 61 (3) 2,281 Adoption of accounting standards 4 (4) (6) — — (6) Other comprehensive income (loss) before reclassifications 3,292 (41) (634) (106) 18 2,529 Less: Reclassification adjustments for gains (losses) realized in net income 1 353 — (94) — — 259 Less: Income tax expense (benefit) 562 (8) (115) (26) — 413 Less: Other comprehensive income attributable to NCI 145 2 — 7 7 161 Balance at December 31, 2020 $ 5,338 $ (39) $ (1,310) $ (26) $ 8 $ 3,971 1 Recognized in investment related gains (losses) on the consolidated statements of income.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per Share The following represents our basic and diluted EPS calculations: Year ended December 31, 2020 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted $ 1,573 $ (98) $ (13) $ (3) $ (4) $ (9) Basic weighted average shares outstanding 184.9 25.4 3.3 0.8 1.0 2.4 Dilutive effect of stock compensation plans and warrants 3.7 — — — — — Diluted weighted average shares outstanding 188.6 25.4 3.3 0.8 1.0 2.4 Earnings (loss) per share Basic $ 8.51 $ (3.87) $ (3.87) $ (3.87) $ (3.87) $ (3.87) Diluted $ 8.34 $ (3.87) $ (3.87) $ (3.87) $ (3.87) $ (3.87) Year ended December 31, 2019 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income available to Athene Holding Ltd. common shareholders – basic and diluted $ 1,760 $ 291 $ 38 $ 10 $ 11 $ 26 Basic weighted average shares outstanding 153.9 25.4 3.3 0.8 1.0 2.2 Dilutive effect of stock compensation plans 0.4 — — — — 0.3 Diluted weighted average shares outstanding 154.3 25.4 3.3 0.8 1.0 2.5 Earnings per share Basic $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 11.44 Diluted $ 11.41 $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 9.94 Year ended December 31, 2018 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income available to Athene Holding Ltd. common shareholders – basic and diluted $ 857 $ 157 $ 18 $ 5 $ 5 $ 11 Basic weighted average shares outstanding 160.5 29.3 3.4 0.8 1.0 2.1 Dilutive effect of stock compensation plans 0.6 — — — — 0.6 Diluted weighted average shares outstanding 161.1 29.3 3.4 0.8 1.0 2.7 Earnings per share Basic $ 5.34 $ 5.34 $ 5.34 $ 5.34 $ 5.34 $ 5.34 Diluted $ 5.32 $ 5.34 $ 5.34 $ 5.31 $ 5.31 $ 4.11 For the periods in which we had multiple classes of stock participating in earnings, we used the two-class method for allocating net income to each class of our common stock. During the first quarter of 2020, as a result of the closing of the share transaction discussed further in Note 14 – Related Parties , we converted outstanding Class B shares to Class A shares and Class M shares were converted to Class A shares and warrants. As a result, the EPS calculation for the year ended December 31, 2020 allocates all net income for the second, third and fourth quarters to Class A shares. For the first quarter, the EPS calculation used only the weighted average shares for the first quarter to allocate first quarter net loss for Class B and Class M shares; however, for Class B and Class M shares, the weighted average shares outstanding represent only that period of time that the shares were outstanding. The warrants issued as part of the conversion of the Class M shares are evaluated for dilution and included within the dilutive effect of stock compensation plans and warrants above. Dilutive shares are calculated using the treasury stock method. For Class A shares, this method takes into account shares that can be settled into Class A shares, net of a conversion price. The diluted EPS calculations for Class A shares excluded 1.8 million, 31.9 million and 34.9 million shares, RSUs, warrants and options as of December 31, 2020, 2019 and 2018, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes Income tax expense consists of the following: Years ended December 31, (In millions) 2020 2019 2018 Current $ 107 $ 53 $ 78 Deferred 178 64 44 Income tax expense $ 285 $ 117 $ 122 Income tax expense was calculated based on the following income (loss) before income taxes by jurisdiction: Years ended December 31, (In millions) 2020 2019 2018 Bermuda $ 903 $ 1,895 $ 641 US 1,083 528 534 United Kingdom 220 (121) — Income before income taxes $ 2,206 $ 2,302 $ 1,175 The expected tax provision computed on pre-tax income at the weighted average tax rate has been calculated as the sum of the pre-tax income in each jurisdiction multiplied by that jurisdiction’s applicable statutory tax rate. Statutory tax rates of 0%, 21% and 19% have been used for Bermuda, the US and the United Kingdom (UK), respectively, for the years ended December 31, 2020, 2019 and 2018. A reconciliation of the difference between the expected tax provision at the weighted average tax rate and income tax expense (benefit) is as follows: Years ended December 31, (In millions, except for percentages) 2020 2019 2018 Expected tax provision computed on pre-tax income at weighted average income tax rate $ 268 $ 88 $ 112 Increase in income taxes resulting from: Deferred tax valuation allowance 8 16 — Non-deductible expenses 5 17 — Prior year true-up (4) 2 11 Corporate owned life insurance (6) (6) (3) Stock compensation expense — 2 1 State taxes and other 14 (2) 1 Income tax expense $ 285 $ 117 $ 122 Effective tax rate 13 % 5 % 10 % Total income taxes were as follows: Years ended December 31, (In millions) 2020 2019 2018 Income tax expense $ 285 $ 117 $ 122 Income tax expense (benefit) from OCI 413 698 (431) Total income tax expense (benefit) $ 698 $ 815 $ (309) Current income tax recoverable and deferred tax assets are included in other assets on the consolidated balance sheets, and current income tax payable and deferred tax liabilities are included in other liabilities on the consolidated balance sheets. Current and deferred income tax assets and liabilities were as follows: December 31, (In millions) 2020 2019 Current income tax recoverable $ 55 $ — Current income tax payable — 14 Net current income tax recoverable (payable) $ 55 $ (14) Deferred tax assets $ — $ — Deferred tax liabilities 972 423 Net deferred tax liabilities $ (972) $ (423) Deferred income tax assets and liabilities consisted of the following: December 31, (In millions) 2020 2019 Deferred tax assets Insurance liabilities $ 1,723 $ 1,753 Net operating and capital loss carryforwards 86 133 Tax credits — 2 Employee benefits 20 21 Other 36 16 Total deferred tax assets 1,865 1,925 Valuation allowance (74) (63) Deferred tax assets, net of valuation allowance 1,791 1,862 Deferred tax liabilities Investments, including derivatives 998 928 Net unrealized gains on AFS 997 585 DAC, DSI and VOBA 767 758 Other 1 14 Total deferred tax liabilities 2,763 2,285 Net deferred tax liabilities $ (972) $ (423) As of December 31, 2020, we have gross deferred tax assets associated with US federal and state net operating losses of $552 million, which will begin to expire in 2022. The valuation allowance consists of the following: December 31, (In millions) 2020 2019 US federal and state net operating losses and other deferred tax assets $ 50 $ 47 UK net operating losses and other deferred tax assets 24 16 Total valuation allowance $ 74 $ 63 AHL and its Bermuda subsidiaries file protective US income tax returns and its US subsidiaries file income tax returns with the US federal government and various US state governments. AADE is not subject to US federal and state examinations by tax authorities for years prior to 2013, while Athene Annuity & Life Assurance Company of New York (AANY) is not subject to examinations for years prior to 2015. The Internal Revenue Service is currently auditing the 2013 consolidated tax return filed by AUSA, is conducting a limited scope audit of the 2015 consolidated tax return filed by AADE, and is auditing the 2017 consolidated tax return filed by AADE. No material adverse proposed adjustments have been issued with respect to any examination . Under current Bermuda law, we are not required to pay any taxes in Bermuda on either income or capital gains. We have received an undertaking from the Bermuda Minister of Finance that, in the event of any such taxes being imposed, the Company will be exempted from taxation until the year 2035. We expect that earnings from AHL’s US subsidiaries will not be subject to US dividend withholding tax under the benefits provided by the income tax treaty between the US and the UK. Any dividends remitted to AHL from ALRe are not subject to withholding tax.

Statutory Requirements

Statutory Requirements	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Insurance Disclosure [Text Block]	13. Statutory Requirements Our insurance and reinsurance subsidiaries are subject to insurance laws and regulations in the jurisdictions in which they operate including Bermuda and the US. Certain regulations include restrictions that limit the dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval of the insurance regulatory authorities. The differences between financial statements prepared for insurance regulatory authorities and GAAP financial statements vary by jurisdiction. Bermuda statutory requirements —ALRe, AARe and Athene Co-Invest Reinsurance Affiliate 1A Ltd. (ACRA 1A, and together with its subsidiaries, ACRA) are each licensed by the Bermuda Monetary Authority (BMA) as long-term insurers and are subject to the Insurance Act 1978, as amended (Bermuda Insurance Act) and regulations promulgated thereunder. The BMA implemented the Economic Balance Sheet (EBS) framework into the Bermuda Solvency Capital Requirement (BSCR), which was granted equivalence to the European Union’s Directive (2009/138/EC) (Solvency II). Under the Bermuda Insurance Act, long-term insurers are required to maintain minimum statutory capital and surplus to meet the minimum margin of solvency (MMS) and minimum economic statutory capital and surplus (EBS capital and surplus) to meet the Enhanced Capital Requirement (ECR). For our Class C reinsurer, ACRA 1A, MMS is equal to the greater of $500,000, 1.5% of the total statutory assets or 25% of ECR. For our Class E reinsurers, ALRe and AARe, MMS is equal to the greater of $8 million, 2% of the first $500 million of statutory assets plus 1.5% of statutory assets above $500 million or 25% of ECR. For each class, the ECR is calculated based on a risk-based capital model where risk factor charges are applied to the EBS. The ECR is floored at the MMS. As of December 31, 2020, our Bermuda subsidiaries were in excess of the minimum levels required. For our Bermuda reinsurance subsidiaries, the ECR is the binding regulatory constraint. The following represents the EBS capital and surplus and BSCR ratios: EBS capital & surplus BSCR ratio December 31, December 31, (In millions) 2020 2019 2020 2019 ALRe $ 17,168 $ 14,073 254 % 310 % AARe 2,441 2,898 967 % 257 % ACRA 1A 2,945 1,237 236 % 341 % Under the EBS framework, statutory financial statements are generally equivalent to GAAP financial statements, with the exception of permitted practices granted by the BMA. Our Bermuda subsidiaries have permission in the statutory financial statements to use amortized cost instead of fair value as the basis for certain investments. Additionally, our Bermuda subsidiaries use US statutory reserving principles for the calculation of insurance reserves instead of GAAP, subject to the reserves being proved adequate based on cash flow testing. The following represents the effect of the permitted practices to the statutory financial statements: December 31, 2020 (In millions) ALRe AARe 1 ACRA 1A Decrease to capital and surplus due to permitted practices $ (4,434) $ (7,762) $ (378) Decrease to statutory net income due to permitted practices (17) (2,922) (683) 1 AARe has permission to use amortized cost instead of fair value as the basis for certain investments but does not produce GAAP financial statements. The effect of the permitted practices to the AARe statutory financial statements reflects the impact of the difference between amortized cost and fair value for certain investments. Under the Bermuda Insurance Act, our Bermuda subsidiaries are prohibited from paying a dividend in an amount exceeding 25% of the prior year’s statutory capital and surplus, unless at least two members of the companies’ respective board of directors and its principal representative in Bermuda sign and submit to the BMA an affidavit attesting that a dividend in excess of this amount would not cause the subsidiary to fail to meet its relevant margins. In certain instances, the Bermuda subsidiary would also be required to provide prior notice to the BMA in advance of the payment of dividends. In the event that such an affidavit is submitted to the BMA, and further subject to meeting the MMS and ECR requirements, a Bermuda subsidiary is permitted to distribute up to the sum of 100% of statutory surplus and an amount less than 15% of statutory capital. Distributions in excess of this amount require the approval of the BMA. The following represents the maximum distribution our Bermuda subsidiaries would be permitted to remit to its parent without the need for prior approval: December 31, (In millions) 2020 2019 ALRe $ 9,971 $ 8,141 AARe 1,096 1,216 ACRA 1A 1,592 59 US statutory requirements —Our regulated US subsidiaries and the corresponding insurance regulatory authorities are as follows: Subsidiary Regulatory Authority AADE Delaware Department of Insurance AAIA Iowa Insurance Division AANY New York Department of Financial Services Athene Re USA IV State of Vermont Department of Financial Regulation Each entity’s statutory statements are presented on the basis of accounting practices determined by the respective regulatory authority. The regulatory authority recognizes only statutory accounting practices prescribed or permitted by the corresponding state for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under insurance law. The maximum dividend these subsidiaries can pay to shareholders, without prior approval of the respective state insurance department, is subject to restrictions relating to statutory surplus or net gain from operations. The maximum dividend payment over a twelve-month period may not, without prior approval, be paid from a source other than earned surplus and may not exceed the greater of (1) the prior year’s net gain from operations or (2) 10% of policyholders’ surplus. Based on these restrictions, the maximum dividend AADE could pay to AUSA absent regulatory approval was $170 million and $152 million as of December 31, 2020 and 2019, respectively. Any dividends from AHL’s other US statutory entities in excess of the amounts allowed for AADE would not be able to be remitted to AUSA without regulatory approval from the Delaware Department of Insurance. As of December 31, 2020, our US subsidiaries’ solvency, liquidity and risk-based capital amounts were significantly in excess of the minimum levels required. In some instances, the states of domicile of our US subsidiaries have adopted prescribed accounting practices that differ from the required accounting outlined in National Association of Insurance Commissioners (NAIC) Statutory Accounting Principles (SAP). These subsidiaries also have certain accounting practices permitted by the states of domicile that differ from those found in NAIC SAP. These prescribed and permitted practices are described as follows: AAIA – Among the products issued by AAIA are indexed universal life insurance and fixed indexed annuities. These products allow a portion of the premium to earn interest based on certain indices, primarily the S&P 500. We purchase call options, futures and variance swaps to hedge the growth in interest credited to the customer as a direct result of increases in the related index. The Iowa Insurance Division allows an insurer to elect (1) to use an amortized cost method to account for certain derivative instruments, such as call options, purchased to hedge the growth in interest credited to the customer on indexed insurance products and (2) to use an indexed annuity reserve calculation methodology under which call options associated with the current index interest crediting term are valued at zero. AAIA has elected to apply this option to its over-the-counter call options and reserve liabilities. As a result, AAIA’s statutory surplus decreased by $84 million and $80 million as of December 31, 2020 and 2019, respectively. Athene Re USA IV – AAIA has ceded the AmerUs Closed Block to Athene Re USA IV on a 100% funds withheld basis. A permitted practice in the State of Vermont allows Athene Re USA IV to include as admitted assets the face amount of all issued and outstanding letters of credit used to fund its reinsurance obligations to AAIA in its statutory financial statements. If Athene Re USA IV had not followed this permitted practice, then it would not have exceeded authorized control level risk based capital requirements. As of December 31, 2020 and 2019, Athene Re USA IV included as admitted assets $134 million and $137 million, respectively, related to the outstanding letters of credit. Statutory capital and surplus and net income (loss) —The following table presents, for each of our primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators: Statutory capital & surplus Statutory net income (loss) December 31, Years ended December 31, (In millions) 2020 2019 2020 2019 2018 ALRe $ 13,518 $ 11,000 $ 1,544 $ 1,247 $ 418 AARe 2,457 2,343 92 248 997 ACRA 1A 2,718 808 1,522 265 (287) AADE 1,700 1,526 54 (86) 18 AAIA 1,312 1,209 (8) 241 81 AANY 320 318 (25) 33 6

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Parties	14. Related Parties Apollo Current fee structure – Substantially all of our investments are managed by Apollo. Apollo provides us a full suite of services that includes: direct investment management; asset sourcing and allocation; mergers and acquisition sourcing, execution and asset diligence; and strategic support and advice. Apollo also provides certain operational support services for our investment portfolio including investment compliance, tax, legal and risk management support. Apollo has extensive experience managing our investment portfolio and its knowledge of our liability profile enables it to tailor an asset management strategy to fit our specific needs. This strategy has proven responsive to changing market conditions and focuses on earning incremental yield by taking liquidity risk and complexity risk, rather than assuming solely credit risk. Our partnership has enabled us to take advantage of investment opportunities that would likely not otherwise have been available to us. During the second quarter of 2019, we entered into the Seventh Amended and Restated Fee Agreement, dated as of June 10, 2019, between us and AGM’s subsidiary, Apollo Insurance Solutions Group LP (ISG) (Fee Agreement). Under the Fee Agreement, effective retroactive to January 1, 2019, we pay Apollo: (1) a base management fee equal to the sum of (i) 0.225% per year of the lesser of (A) the aggregate market value of substantially all of the assets in substantially all of the investment accounts of or relating to us (collectively, the Accounts) on December 31, 2018 of $103.4 billion (Backbook Value) and (B) the aggregate market value of substantially all of the assets in the Accounts at the end of the respective month, plus (ii) 0.15% per year of the amount, if any (Incremental Value), by which the aggregate market value of substantially all of the assets in the Accounts at the end of the respective month exceeds the Backbook Value; plus (2) with respect to each asset in an Account, subject to certain exceptions, that is managed by Apollo and that belongs to a specified asset class tier (Core, Core Plus, Yield, and High Alpha), a sub-allocation fee as follows, which will, in the case of assets acquired after January 1, 2019, be subject to a cap of 10% of the applicable asset’s gross book yield: (i) 0.065% of the market value of Core assets, which include public investment grade corporate bonds, municipal securities, agency RMBS or CMBS, and obligations of governmental agencies or government sponsored entities that are not expressly backed by the US government; (ii) 0.13% of the market value of Core Plus assets, which include private investment grade corporate bonds, fixed rate first lien commercial mortgage loans (CML), and certain obligations issued or assumed by financial institutions and determined by Apollo to be “Tier 2 Capital” under Basel III, a set of recommendations for international banking regulations developed by the Bank for International Settlements; (iii) 0.375% of the market value of Yield assets, which include non-agency RMBS, investment grade CLO, CMBS and other ABS (other than RMBS and CLO), emerging market investments, below investment grade corporate bonds, subordinated debt obligations, hybrid securities or surplus notes issued or assumed by a financial institution, rated preferred equity, residential mortgage loans (RML), bank loans, investment grade infrastructure debt, and floating rate CMLs on slightly transitional or stabilized traditional real estate; (iv) 0.70% of the market value of High Alpha assets, which include subordinated CML, below investment grade CLO, unrated preferred equity, debt obligations originated by MidCap, CMLs for redevelopment or construction loans or secured by non-traditional real estate, below investment grade infrastructure debt, certain loans originated directly by Apollo (other than MidCap loans), and agency mortgage derivatives; and (v) 0.00% of the market value of cash and cash equivalents, US treasuries, non-preferred equities and alternatives. The following represents assets based on the above sub-allocation structure: (In millions, except percentages) December 31, 2020 Percent of Total December 31, 2019 Percent of Total Core $ 49,392 27.3 % $ 32,474 25.5 % Core Plus 41,516 23.0 % 30,155 23.6 % Yield 64,693 35.8 % 48,557 38.0 % High Alpha 6,200 3.4 % 5,062 4.0 % Other 19,088 10.5 % 11,302 8.9 % Total sub-allocation assets $ 180,889 100.0 % $ 127,550 100.0 % Additionally, the Fee Agreement provides for a possible payment by Apollo to us, or a possible payment by us to Apollo, equal to 0.025% of the Incremental Value as of the end of each year, beginning on December 31, 2019, depending upon the percentage of our investments that consist of Core and Core Plus assets. If more than 60% of our invested assets that are subject to the sub-allocation fees are invested in Core and Core Plus assets, we will receive a 0.025% fee reduction on the Incremental Value. If less than 50% of our invested assets that are subject to the sub-allocation fee are invested in Core and Core Plus assets, we will pay an additional fee of 0.025% on Incremental Value. Under the Fee Agreement fees payable to Apollo for sub-advisory services are encompassed within the current fee structure and we no longer separately pay sub-advisory fees (as defined below). See – Historical fee structure below for further discussion of the prior fee structure. For the years ended December 31, 2020, 2019 and 2018, we incurred management fees, inclusive of the base and sub-allocation fees, of $490 million, $426 million and $349 million, respectively. Management fees are included within net investment income on the consolidated statements of income. As of December 31, 2020 and 2019, management fees payable were $41 million and $42 million, respectively, and are included in other liabilities on the consolidated balance sheets. Such amounts include fees incurred attributable to ACRA including 100% of the noncontrolling interest in ACRA. In addition to the assets on our consolidated balance sheets managed by Apollo, Apollo manages the assets underlying our funds withheld receivable. For these assets, the third-party cedants pay Apollo fees based upon the same fee construct we have with Apollo. Such fees directly reduce the settlement payments that we receive from the third-party cedant and, as such, we indirectly pay those fees. Finally, Apollo charges management fees and carried interest on Apollo-managed funds and other entities in which we invest. Neither the fees paid by such third-party cedants nor the fees or carried interest paid by such Apollo-managed funds or other entities are included in the investment management fee amounts cited above. Historical fee structure – Prior to January 1, 2019, we paid AAM an annual fee of 0.40%, subject to certain discounts and exceptions, on all assets that AAM managed in accounts owned by us in the US and Bermuda or in accounts supporting reinsurance ceded to our US and Bermuda subsidiaries by third-party insurers (North American Accounts) up to $65,846 million and 0.30% per year on assets managed in excess of such amount. Additionally, for certain assets which required specialized sourcing and underwriting capabilities, AAM had chosen to mandate sub-advisors rather than build out in-house capabilities. AAM entered into Master Sub-Advisory Agreements (MSAAs) with certain Apollo affiliates to sub-advise AAM with respect to a portion of our assets, with the fees recharged to us, in addition to the gross fee paid to AAM as described above. AAM paid Apollo 0.40% per year on all assets in the North American Accounts explicitly sub-advised by Apollo up to $10,000 million, 0.35% per year on all assets in such accounts explicitly sub-advised by Apollo in excess of $10,000 million up to $12,441 million, 0.40% per year on all assets in such accounts explicitly sub-advised by Apollo in excess of $12,441 million up to $16,000 million, and 0.35% per year on all assets in such accounts explicitly sub-advised by Apollo in excess of $16,000 million, subject to certain exceptions (sub-advisory fees). Investment management agreement (IMA) termination – Our bye-laws currently provide that we may not, and will cause our subsidiaries not to, terminate any IMA among us or any of our subsidiaries, on the one hand, and a member of the Apollo Group (as defined in our bye-laws), on the other hand, other than on June 4, 2023 or any two year anniversary of such date (each such date, an IMA Termination Election Date) and any termination on an IMA Termination Election Date requires (i) the approval of two-thirds of our Independent Directors (as defined in the bye-laws) and (ii) prior written notice to the applicable Apollo subsidiary of such termination at least 30 days, but not more than 90 days, prior to an IMA Termination Election Date. If our Independent Directors make such election to terminate and notice of such termination is delivered, the termination will be effective no earlier than the second anniversary of the applicable IMA Termination Election Date (IMA Termination Effective Date). Notwithstanding the foregoing, (A) except as set forth in clause (B) below, our board of directors may only elect to terminate an IMA on an IMA Termination Election Date if two-thirds of our Independent Directors determine, in their sole discretion and acting in good faith, that either (i) there has been unsatisfactory long-term performance materially detrimental to us by the applicable Apollo subsidiary or (ii) the fees being charged by the applicable Apollo subsidiary are unfair and excessive compared to a comparable asset manager (provided, that in either case such Independent Directors must deliver notice of any such determination to the applicable Apollo subsidiary and the applicable Apollo subsidiary will have until the applicable IMA Termination Effective Date to address such concerns, and provided, further, that in the case of such a determination that the fees being charged by the applicable Apollo subsidiary are unfair and excessive, the applicable Apollo subsidiary has the right to lower its fees to match the fees of such comparable asset manager) and (B) upon the determination by two-thirds of our Independent Directors, we or our subsidiaries may also terminate an IMA with the applicable Apollo subsidiary, on a date other than an IMA Termination Effective Date, as a result of either (i) a material violation of law relating to the applicable Apollo subsidiary’s advisory business, or (ii) the applicable Apollo subsidiary’s gross negligence, willful misconduct or reckless disregard of its obligations under the relevant agreement, in each case of this clause (B), that is materially detrimental to us, and in either case of this clause (B), subject to the delivery of written notice at least 30 days prior to such termination; provided, that in connection with an event described in clause (B)(i) or (B)(ii), the applicable Apollo subsidiary shall have the right to dispute such determination of the Independent Directors within 30 days after receiving notice from us of such determination, in which case the matter will be submitted to binding arbitration and such IMA shall continue to remain in effect during the period of the arbitration (the events described in the foregoing clauses (A) and (B) are referred to in more detail in our bye-laws as “AHL Cause”). Governance – We have a management investment committee, which includes members of our senior management and reports to the risk committee of our board of directors. The committee focuses on strategic decisions involving our investment portfolio, such as approving investment limits, new asset classes and our allocation strategy, reviewing large asset transactions, as well as monitoring our credit risk, and the management of our assets and liabilities. A significant voting interest in the Company is held by shareholders who are members of the Apollo Group. Also, James Belardi, our Chief Executive Officer, is an employee of ISG and receives remuneration from acting as Chief Executive Officer of ISG. Mr. Belardi also owns a 5% profit interest in ISG (Interest). It is expected that the Interest will be revised such that Mr. Belardi will receive a lesser interest in the equity of ISG and also receive a specified percentage of other fee streams earned by Apollo, potentially comprised of or including the sub-allocation fees. Additionally, six of the sixteen members of our board of directors are employees of or consultants to Apollo (including Mr. Belardi). In order to protect against potential conflicts of interest resulting from transactions into which we have entered and will continue to enter into with the Apollo Group, our bye-laws require us to maintain a conflicts committee comprised solely of directors who are not officers or employees of any member of the Apollo Group. The conflicts committee reviews and approves material transactions between us and the Apollo Group, subject to certain exceptions. Other related party transactions A-A Mortgage – We have an equity method investment of $444 million and $487 million as of December 31, 2020 and 2019, respectively, in A-A Mortgage, which has an investment in AmeriHome. We have a loan purchase agreement with AmeriHome. The agreement allows us to purchase residential mortgage loans which AmeriHome has purchased from correspondent sellers and pooled for sale in the secondary market. AmeriHome retains the servicing rights to the sold loans. We purchased $169 million, $411 million and $722 million of residential mortgage loans under this agreement during the years ended December 31, 2020, 2019 and 2018, respectively. Additionally, we hold investments issued by AmeriHome or AmeriHome affiliates of $360 million and $170 million as of December 31, 2020 and 2019, respectively, which are included in related party AFS securities on the consolidated balances sheets. We also have commitments to make additional equity investments in A-A Mortgage of $381 million as of December 31, 2020. On February 16, 2021, Apollo, Athene and AmeriHome announced the sale of AmeriHome to a subsidiary of Western Alliance Bancorporation. We currently anticipate that this transaction will close during the second quarter of 2021, subject to customary closing condition s. We estimate approximately $175 million of revenue from the premium of the platform sale, net of carry and transaction expenses. MidCap – During the third quarter of 2020, CoInvest VII was dissolved. CoInvest VII held a significant investment in MidCap. CoInvest VII was included in related party investment funds on the consolidated balance sheets and was reflected as a consolidated VIE prior to the first quarter of 2020. Subsequent to dissolution of CoInvest VII, we now hold MidCap directly as profit participating notes. We have also advanced amounts under a subordinated debt facility to Midcap. During the second quarter of 2020, we invested in MidCap redeemable preferred stock. The subordinated debt facility is included in related party other investments and the redeemable preferred stock and profit participating notes are included in related party trading securities on the consolidated balance sheets. The following summarizes these investments in MidCap: December 31, (In millions) 2020 2019 Profit participating notes $ 534 $ — Investment fund — 547 Subordinated debt facility 328 339 Redeemable preferred stock 77 — Total investment in MidCap $ 939 $ 886 Additionally, we hold ABS and CLO securities issued by MidCap affiliates of $630 million and $624 million as of December 31, 2020 and 2019, respectively, which are included in related party AFS securities on the consolidated balance sheets. Athora – We have a cooperation agreement with Athora, pursuant to which, among other things, (1) for a period of 30 days from the receipt of notice of a cession, we have the right of first refusal to reinsure (i) up to 50% of the liabilities ceded from Athora’s reinsurance subsidiaries to Athora Life Re Ltd. and (ii) up to 20% of the liabilities ceded from a third party to any of Athora’s insurance subsidiaries, subject to a limitation in the aggregate of 20% of Athora’s liabilities, (2) Athora agreed to cause its insurance subsidiaries to consider the purchase of certain funding agreements and/or other spread instruments issued by our insurance subsidiaries, subject to a limitation that the fair market value of such funding agreements purchased by any of Athora’s insurance subsidiaries may generally not exceed 3% of the fair market value of such subsidiary’s total assets, (3) we provide Athora with a right of first refusal to pursue acquisition and reinsurance transactions in Europe (other than the UK) and (4) Athora provides us and our subsidiaries with a right of first refusal to pursue acquisition and reinsurance transactions in North America and the UK. Notwithstanding the foregoing, pursuant to the cooperation agreement, Athora is only required to use its reasonable best efforts to cause its subsidiaries to adhere to the provisions set forth in the cooperation agreement and therefore Athora’s ability to cause its subsidiaries to act pursuant to the cooperation agreement may be limited by, among other things, legal prohibitions or the inability to obtain the approval of the board of directors or other applicable governing body of the applicable subsidiary, which approval is solely at the discretion of such governing body. As of December 31, 2020, we have not exercised our right of first refusal to reinsure liabilities ceded to Athora’s insurance or reinsurance subsidiaries. During the fourth quarter of 2018, we entered into a coinsurance agreement with ALV to reinsure endowment contracts and annuities, in which we assumed liabilities of $325 million. We then retroceded these endowment contracts and annuities through a modco agreement to ARE, in which we recorded a funds withheld liability of $337 million. ARE modco assets were recorded as reinsurance recoverable on the consolidated balance sheets. During the fourth quarter of 2019, we novated the reinsurance agreement for the ALV endowment contracts and annuities to ARE, which resulted in a decrease of $663 million of liabilities and related assets on the consolidated balance sheets. Our investment in Athora, which is included in related party investment funds on the consolidated balance sheets, was $709 million and $132 million as of December 31, 2020 and 2019, respectively. During the second quarter of 2020, we contributed capital of $361 million to Athora. Additionally, as of December 31, 2020 and 2019, we had $122 million and $146 million, respectively, of funding agreements outstanding to Athora . We also have commitments to make additional equity investments in Athora of $305 million as of December 31, 2020. Venerable – On June 1, 2018, we entered into coinsurance and modco agreements with Voya Insurance and Annuity Company (VIAC) to reinsure a block of fixed and fixed indexed annuities, in which we assumed liabilities of $18,578 million. VIAC is a related party due to our minority equity investment in its holding company’s parent, VA Capital Company LLC (VA Capital), which was $123 million and $99 million as of December 31, 2020 and 2019, respectively. The minority equity investment in VA Capital is included in related party investment funds on the consolidated balance sheets and accounted for as an equity method investment. VA Capital is owned by a consortium of investors, led by affiliates of AGM, Crestview Partners and Reverence Capital Partners, and is the parent of Venerable, which is the parent of VIAC. Additionally, we have a 15-year term loan receivable from Venerable due in 2033, which is included in related party other investments on the consolidated balance sheets. The loan is held at the principal balance less allowances and was $145 million and $148 million as of December 31, 2020 and 2019, respectively. While management views the overall transactions with Venerable as favorable to us, the stated interest rate of 6.257% on the term loan to Venerable represents a below-market interest rate, and management considered such rate as part of its evaluation and pricing of the reinsurance transactions. Strategic Partnership – On October 24, 2018, we entered into an agreement pursuant to which we may invest up to $2.5 billion over three years in funds managed by Apollo entities (Strategic Partnership). This arrangement is intended to permit us to invest across the Apollo alternatives platform into credit-oriented, strategic and other alternative investments in a manner and size that is consistent with our existing investment strategy. Fees for such investments payable by us to Apollo would be more favorable to us than market rates, and consistent with our existing alternative investments, investments made under the Strategic Partnership require approval of ISG and remain subject to our existing governance processes, including approval by our conflicts committee where applicable. As of December 31, 2020 and 2019, we had $214 million and $97 million, respectively, of investments under the Strategic Partnership and these investments are included in related party investment funds on the consolidated balance sheets and were reflected as consolidated VIEs in periods prior to March 31, 2020. PK AirFinance – During the fourth quarter of 2019, we and Apollo purchased PK AirFinance (PK), an aviation lending business, including PK’s in force loan portfolio (Aviation Loans), from the Aviation Services Unit of GE Capital (GE). The Aviation Loans are generally fully secured by aircraft leases and aircraft. In connection with such transaction, Apollo acquired the PK loan origination platform, including personnel and systems and, pursuant to certain agreements entered into between us, Apollo, and certain entities managed by Apollo (collectively, PK Transaction Agreements), the existing Aviation Loans were acquired and securitized by a newly formed SPV for which Apollo acts as ABS manager (ABS-SPV). The ABS-SPV issued tranches of senior notes and subordinated notes, which are secured by the Aviation Loans. In connection with the acquisition of the existing Aviation Loans by the ABS-SPV (i) a tranche of senior notes was acquired by third-party investors and (ii) we purchased mezzanine tranches of the senior notes and the subordinated notes. As of December 31, 2020 and 2019, our investment in securitizations of loans originated by PK was $1,373 million and $1,282 million, respectively, and are included in related party AFS or trading securities on the consolidated balance sheets. We also have commitments to make additional investment in securitizations of loans originated by PK of $229 million as of December 31, 2020. In addition to the investment in the senior notes and subordinated notes, we also have a right to acquire, whether directly, through the ABS-SPV or through a similar vehicle, all Aviation Loans originated by PK (Forward Flow Loans). All servicing and administrative costs and expenses of Apollo (determined at cost, without mark-up) that are incurred in connection with the sourcing, origination, servicing and maintaining the Forward Flow Loans, net of any service fees and servicing and administrative cost and expense reimbursement amounts received directly from the ABS-SPV or other entities investing in the Forward Flow Loans are allocated to, and reimbursed by the ABS-SPV or us, as applicable, subject to an agreed-upon annual cap. In addition to the payment of the expenses described in the preceding paragraph and the base management fee paid to Apollo on all assets managed by Apollo, we have paid or expect to pay the following fees to Apollo or certain service providers that are affiliates of, or are companies managed by, Apollo in connection with the PK Transaction Agreements: (A) To Apollo, sub-allocation fees on the senior notes based on the rates applicable to Yield assets and sub-allocation fees on the subordinated notes based on the rates applicable to High Alpha assets. (B) To Redding Ridge Asset Management LLC, a company in which certain funds managed by Apollo have an interest, as consideration for assistance with the structuring, monitoring, support and maintenance of the securitization transactions, a one-time structuring fee, as well as ongoing support fees equal to 1.5 bps on the total capitalization amount and certain other fees, which may become due upon the occurrence of certain events; and (C) To Merx Aviation Servicing Limited, a company externally managed by Apollo Investment Management, L.P., with respect to certain diligence, technical support and enforcement, remarketing and restructuring services with respect to the existing Aviation Loans and the Forward Flow Loans, a one-time servicing fee, as well as certain special situations fees, which may become due upon the occurrence of certain events. Apollo/Athene Dedicated Investment Program (ADIP) – On October 1, 2019, we sold 67% of our equity interests in our subsidiary, ACRA, to ADIP, which is managed by AGM, for $575 million. As a result, we reduced APIC and AOCI by $145 million and $34 million, respectively, and recorded $754 million for the issuance of equity to noncontrolling interests. The shares held by ADIP are non-voting and our shares represent 100% of the voting power and, subsequent to the sale, we owned the remaining 33% of the equity interests in ACRA. On April 1, 2020, ALRe purchased 14,000 newly issued ACRA shares for $66 million, which resulted in ALRe holding 36.55% of the economic interests in ACRA. The remaining 63.45% of the economic interests in ACRA are held by ADIP. During the year ended December 31, 2020 , we received capital contributions of $240 million from ADIP and paid a dividend of $46 million to ADIP. Apollo Share Exchange and Related Transactions – On February 28, 2020, we closed a strategic transaction with AGM and certain affiliates of AGM which collectively comprise the Apollo Operating Group (AOG), pursuant to which we sold 27,959,184 newly issued Class A common shares to the AOG for an investment in Apollo of 29,154,519 newly issued AOG units valued at $1.1 billion and we sold 7,575,758 newly issued Class A common shares to the AOG for $350 million. Additionally, Apollo Management Holdings, L.P. (AMH) has the right to purchase up to that number of Class A common shares that would increase by 5 percentage points the percentage of the issued and outstanding Class A common shares beneficially owned by the AOG and certain affiliates, employees and consultants of AGM (inclusive of Class A common shares over which any such persons have a valid proxy), calculated on a fully diluted basis. In connection with the closing of the transaction, we made certain amendments to our bye-laws which, among other things, eliminated our multi-class common share structure. Concurrent with our entry into the transaction agreements, AMH, James Belardi, our Chief Executive Officer, and William Wheeler, our President (each an “Other Shareholder”), entered into a voting agreement, pursuant to which each Other Shareholder irrevocably appointed AMH as its proxy and attorney-in-fact (Proxy) to vote all of such Other Shareholder’s Class A common shares at any meeting of our shareholders occurring following the closing date and in connection with any written consent of our shareholders following the closing date. The Proxy will be of no force and effect if Apollo and certain affiliates thereof cease to hold some minimum level of ownership not to exceed 7.5% of our Class A common shares. AA Infrastructure Fund 1 LLC (AA Infrastructure) – We have an investment in preferred shares of AA Infrastructure, which is a fund managed by ISG. As of December 31, 2020 and 2019, we held $72 million and $58 million, respectively, of preferred shares, which are included in related party equity securities on the consolidated balance sheets. In the fourth quarter of 2019, AA Infrastructure issued $267 million of ABS securities as a return of capital on the preferred shares. As of December 31, 2020 and 2019, we held AA Infrastructure ABS securities of $420 million and $267 million, respectively, which are included in related party trading securities on the consolidated balance sheets. We also have commitments to make additional investments in AA Infrastructure of $36 million as of December 31, 2020.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Contingent Commitments —We had commitments to make investments, primarily capital contributions to investment funds, inclusive of related party commitments discussed previously, of $7,472 million a nd $4,793 million as of December 31, 2020 and 2019, respectively. We expect most of our current commitments will be invested over the next five years; however, these commitments could become due any time upon counterparty request. Funding Agreements —We are a member of the FHLB and, through membership, we have issued funding agreements to the FHLB in exchange for cash advances. As of December 31, 2020 and 2019, we had $2,002 million and $1,226 million, respectively, of FHLB funding agreements outstanding. We are required to provide collateral in excess of the funding agreement amounts outstanding, considering any discounts to the securities posted and prepayment penalties. We have a funding agreement backed notes (FABN) program, which allows Athene Global Funding, a special-purpose, unaffiliated statutory trust, to offer its senior secured medium-term notes. Athene Global Funding uses the net proceeds from each sale to purchase one or more funding agreements from us. As of December 31, 2020 and 2019 , we had $8,822 million and $3,700 million, respectively, of FABN funding agreements outstanding. We had $6.3 billion of FABN capacity remaining as of December 31, 2020. During the third quarter of 2020, we established a secured funding agreement backed repurchase agreement (FABR) program, in which a special-purpose, unaffiliated entity entered into repurchase agreements with a bank and the proceeds of the repurchase agreements were used by the special purpose entity to purchase funding agreements from us. As of December 31, 2020, we had $1,000 million of FABR funding agreements outstanding. Pledged Assets and Funds in Trust (Restricted Assets)— The total restricted assets included on the consolidated balance sheets are as follows: December 31, (In millions) 2020 2019 AFS securities $ 9,884 $ 9,369 Trading securities 60 45 Equity securities 26 22 Mortgage loans 5,028 2,535 Investment funds 68 84 Derivative assets 107 105 Short-term investments 52 92 Other investments 105 88 Restricted cash 738 402 Total restricted assets $ 16,068 $ 12,742 The restricted assets are primarily related to reinsurance trusts established in accordance with coinsurance agreements and the FHLB and FABR funding agreements described above. Letter of Credit —We have undrawn letters of credit totaling $1,408 million as of December 31, 2020. These letters of credit were issued for our reinsurance program and expire between December 10, 2021 and June 19, 2023. Litigation, Claims and Assessments Corporate-owned Life Insurance (COLI) Matter – In 2000 and 2001, two insurance companies which were subsequently merged into AAIA, purchased broad based variable COLI policies from American General Life Insurance Company (American General) that, as of December 31, 2020 , had an asset value of $412 million, and is included in other assets on the consolidated balance sheets. In January 2012, the COLI policy administrator delivered to AAIA a supplement to the existing COLI policies and advised that American General and ZC Resource Investment Trust (ZC Trust) had unilaterally implemented changes set forth in the supplement that if effective, would: (1) potentially negatively impact the crediting rate for the policies and (2) change the exit and surrender protocols set forth in the policies. In March 2013, AAIA filed suit against American General, ZC Trust, and ZC Resource LLC in Chancery Court in Delaware, seeking, among other relief, a declaration that the changes set forth in the supplement were ineffectual and in breach of the parties’ agreement. The parties filed cross motions for judgment as a matter of law, and the court granted defendants’ motion and dismissed without prejudice on ripeness grounds. The issue that negatively impacts the crediting rate for one of the COLI policies has subsequently been triggered and on April 3, 2018, we filed suit against the same defendants in Chancery Court in Delaware seeking substantially similar relief. Defendants moved to dismiss and the court heard oral arguments on February 13, 2019. The court issued an opinion on July 31, 2019 that did not address the merits, but found that the Chancery Court did not have jurisdiction over our claims and directed us to either amend our complaint or transfer the matter to Delaware Superior Court. The matter has been transferred to the Delaware Superior Court. Defendants renewed their motion to dismiss and the Superior Court heard oral arguments on December 18, 2019. The Superior Court issued an opinion on May 18, 2020 in which it granted in part and denied in part defendants’ motion. The Superior Court denied defendants’ motion with respect to the issue that negatively impacts the crediting rate for one of the COLI policies, which issue will proceed to discovery. The Superior Court granted defendants’ motion and dismissed without prejudice on ripeness grounds claims related to the exit and surrender protocols set forth in the policies, and dismissed defendant ZC Resource LLC. If the supplement is ultimately deemed to be effective, the purported changes to the policies could impair AAIA’s ability to access the value of guarantees associated with the policies. The Superior Court issued a scheduling order providing for a July 2022 trial and the parties are currently engaged in discovery. The value of the guarantees included within the asset value reflected above is $194 million as of December 31, 2020. Regulatory Matters – Beginning in 2015, our US insurance subsidiaries have experienced increased complaints related to the conversion and administration of the block of life insurance business acquired in connection with our acquisition of Aviva USA and reinsured to affiliates of Global Atlantic. The life insurance policies included in this block have been and are currently being administered by AllianceOne Inc. (AllianceOne), a subsidiary of DXC Technology Company, which was retained by such Global Atlantic affiliates to provide third party administration services on such policies. AllianceOne also administers a small block of annuity policies that were on Aviva USA’s legacy policy administration systems that were also converted in connection with the acquisition of Aviva USA and have experienced some similar service and administration issues, but to a lesser degree. As a result of the difficulties experienced with respect to the administration of such policies, we have received notifications from several state regulators, including but not limited to New York State Department of Financial Services (NYSDFS), the California Department of Insurance (CDI) and the Texas Department of Insurance (TDI), indicating, in each case, that the respective regulator planned to undertake a market conduct examination or enforcement proceeding of the applicable US insurance subsidiary relating to the treatment of policyholders subject to our reinsurance agreements with affiliates of Global Atlantic and the conversion of the life and annuity policies, including the administration of such blocks by AllianceOne. We entered into consent orders with several state regulators, including the NYSDFS, the CDI and the TDI, to resolve underlying matters in the respective states. All fines and costs, including those associated with remediation plans, paid in connection with the consent orders are subject to indemnification by Global Atlantic or affiliates of Global Atlantic. In addition to the examinations and proceedings initiated to date, it is possible that other regulators may pursue similar formal examinations, inquiries or enforcement proceedings and that any examinations, inquiries and/or enforcement proceedings may result in fines, administrative penalties and payments to policyholders. While we do not expect the amount of any such fines, penalties or payments arising from these matters to be material to our financial condition, results of operations or cash flows, it is possible that such amounts could be material. Pursuant to the terms of the reinsurance agreements between us and the relevant affiliates of Global Atlantic, the applicable affiliates of Global Atlantic have financial responsibility for the ceded life block and are subject to significant administrative service requirements, including compliance with applicable law. The agreements also provide for indemnification to us, including for administration issues. On January 23, 2019, we received a letter from the NYSDFS, with respect to a PRT transaction, which expressed concerns with our interpretation and reliance upon certain exemptions from licensing in New York in connection with certain activities performed by employees in our PRT channel, including specific activities performed within New York. On April 13, 2020, we entered into a consent order with the NYSDFS to resolve this matter. Pursuant to the consent order, the NYSDFS imposed a fine of $45 million, which was accrued in other liabilities on the consolidated balance sheets as of December 31, 2019, and paid during the second quarter of 2020. Caldera Matters – On May 3, 2018, AHL filed a writ commencing litigation in the Supreme Court of Bermuda against a former officer of AHL, a former director of AHL (who is also considered a former officer pursuant to Bermuda law), and Caldera Holdings, Ltd. (Caldera). AHL alleges in the writ, among other things, that the defendants breached various duties owed to AHL under Bermuda law by using AHL’s confidential information in their attempted acquisition of a company referred to in the litigation as Company A. AHL is seeking injunctive relief and damages. Athene amended its writ on October 16, 2018. The trial court denied two separate motions to dismiss made by defendant Caldera on June 28, 2018 and by the former officer and former director defendants on January 14, 2019. On September 20, 2019, the Bermuda Court of Appeal affirmed both trial court rulings and dismissed the defendants’ appeal. Defendants have not further pursued an appeal of this decision to the Judicial Committee of the Privy Council, the court of final appeal for matters litigated in Bermuda. On March 17, 2020, we filed an application for leave to amend the complaint to more broadly assert defendants’ breaches of duties and that motion was approved by Order dated September 20, 2020. On May 3, 2018, following AHL’s filing of the writ in Bermuda described above, Caldera, Caldera Life Reinsurance Company, and Caldera Shareholder, L.P., commenced an action in the Supreme Court of the State of New York, County of New York, by filing a Summons with Notice against AHL, Apollo, certain affiliates of Apollo and Leon Black, a founder of Apollo. On July 12, 2018, plaintiffs filed a complaint alleging claims for tortious interference with prospective business relations, defamation, and unfair competition related to plaintiffs’ attempt to purchase Company A and seeking alleged damages of “no less than $1.5 billion.” AHL has moved to dismiss the complaint. On January 21, 2019, plaintiffs filed an amended complaint, which revised certain allegations about jurisdiction, venue and the merits of the plaintiffs’ claims. We have renewed our motion to dismiss and, on December 20, 2019, the court granted our motion to dismiss. Plaintiffs have filed an appeal, but failed to timely effectuate the appeal. Thus, we believe that this litigation is concluded. Central Laborers’ Pension Fund (CLPF) and Cambria County Employees’ Retirement System (Cambria) – On June 18, 2019 and July 25, 2019, CLPF and Cambria, respectively, filed derivative actions against AAM and AGM, as defendants, and us, as a nominal defendant, in New York State Court (the New York Actions). CLPF and Cambria, both purporting to be our shareholders, each allege that AAM and AGM injured us by causing us to pay excessive management fees to AAM and AGM. The complaints do not name any of our directors as defendants, but allege certain breaches of fiduciary duty. Both complaints seek forms of injunctive relief and disgorgement, but neither complaint seeks monetary relief from us. On July 5, 2019 and July 29, 2019, the Supreme Court of Bermuda enjoined CLPF and Cambria, respectively, from taking any further steps to advance or otherwise positively participate in its respective New York Action in light of the exclusive jurisdiction provision in our bye-laws. On July 31, 2019, CLPF and Cambria each filed a notice that it was dismissing its claims in its respective New York Action. We moved for default judgments in the Supreme Court of Bermuda and, on October 15, 2019, the Court granted our applications and permanently enjoined CLPF and Cambria from taking any further steps in the New York Actions. The Supreme Court of Bermuda has awarded costs in our favor against CLPF and Cambria, which have been paid and we believe this litigation is concluded.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	16. Segment Information We operate our core business strategies out of one reportable segment, Retirement Services. In addition to Retirement Services, we report certain other operations in Corporate and Other. Retirement Services —Retirement Services is comprised of our US and Bermuda operations, which issue and reinsure retirement savings products and institutional products. Retirement Services has retail operations, which provide annuity retirement solutions to our policyholders. Retirement Services also has reinsurance operations, which reinsure multi-year guaranteed annuities, fixed indexed annuities, traditional one-year guarantee fixed deferred annuities, immediate annuities and institutional products from our reinsurance partners. In addition, our institutional operations, including funding agreements and group annuities, are included in our Retirement Services segment. Corporate and Other —Corporate and Other includes certain other operations related to our corporate activities such as corporate allocated expenses, merger and acquisition costs, debt costs, preferred stock dividends, certain integration and restructuring costs, certain stock-based compensation and intersegment eliminations. In addition, we also hold capital in excess of the level of capital we hold in Retirement Services to support our operating strategy. Financial Measures —Segment adjusted operating income available to common shareholders and net investment earnings are internal measures used by the chief operating decision maker to evaluate and assess the results of our segments. Adjusted operating revenue is a component of adjusted operating income available to common shareholders and excludes market volatility and adjustments for other non-operating activity. Our adjusted operating revenue equals our total revenue, adjusted to eliminate the impact of the following non-operating adjustments: • Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets; • Investment gains (losses), net of offsets; and • VIE expenses, noncontrolling interests and other adjustments to revenues. The table below reconciles segment adjusted operating revenues to total revenues presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 10,681 $ 11,460 $ 8,118 Corporate and Other 266 117 44 Non-operating adjustments Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets 868 2,346 (1,020) Investment gains (losses), net of offsets 720 1,685 (515) Noncontrolling interests, VIE expenses and other adjustments to revenues 2,229 650 10 Total revenues $ 14,764 $ 16,258 $ 6,637 Adjusted operating income available to common shareholders is an internal measure used to evaluate our financial performance excluding market volatility and expenses related to integration, restructuring, stock compensation and certain other expenses. Our adjusted operating income available to common shareholders equals net income available to Athene Holding Ltd. common shareholders adjusted to eliminate the impact of the following non-operating adjustments: • Investment gains (losses), net of offsets; • Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets; • Integration, restructuring and other non-operating expenses; • Stock-based compensation, excluding the long-term incentive plan (LTIP); and • Income tax (expense) benefit – non-operating. The table below reconciles segment adjusted operating income available to common shareholders to net income available to Athene Holding Ltd. common shareholders presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 1,266 $ 1,322 $ 1,201 Corporate and Other (24) (33) (61) Non-operating adjustments Investment gains (losses), net of offsets 508 994 (274) Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets (235) (65) 242 Integration, restructuring and other non-operating expenses (10) (70) (22) Stock-based compensation, excluding LTIP (11) (12) (11) Income tax expense – non-operating (48) — (22) Net income available to Athene Holding Ltd. common shareholders $ 1,446 $ 2,136 $ 1,053 Net investment earnings used to evaluate the performance of our segments is an internal measure that does not correspond to GAAP net investment income. Adjustments are made to GAAP net investment income to arrive at a net investment earnings measure that reflects the profitability of our core business. Accordingly, we adjust net investment income to include earnings from our consolidated VIEs and earnings on certain alternative investments (primarily CLOs) classified in investment related gains (losses) on the consolidated statements of income. Additionally, we adjust for impacts of reinsurance embedded derivatives and noncontrolling interests on net investment income. The table below reconciles segment net investment earnings to net investment income presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 5,287 $ 5,062 $ 4,188 Corporate and Other 41 117 44 Adjustments to net investment income Change in fair value of reinsurance assets (1,408) (680) (301) Alternative (gains) losses 102 (1) 34 Noncontrolling interests 559 61 — Apollo investment gain 225 — — Held for trading amortization and other 79 37 95 Net investment income $ 4,885 $ 4,596 $ 4,060 Adjusted operating income available to common shareholders excludes the income tax impact of the taxable non-operating adjustments presented above. The income tax expense of non-operating income adjustments is comprised of the appropriate jurisdiction’s tax rate applied to the non-operating adjustments subject to income tax. The table below reconciles segment income taxes included in adjusted operating income to income tax expense presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 164 $ 117 $ 100 Corporate and Other 60 — — Adjustments to income tax expense Noncontrolling interest tax expense 13 — — Income tax expense – non-operating 48 — 22 Income tax expense $ 285 $ 117 $ 122 The following represents total assets by segment: December 31, (In millions) 2020 2019 Retirement Services $ 197,295 $ 143,881 Corporate and Other 5,476 2,994 Total assets $ 202,771 $ 146,875 We market annuity products, primarily fixed rate and fixed indexed annuities. Deposits, which are generally not included in revenues on the consolidated statements of income, and premiums collected are as follows: Years ended December 31, (In millions) 2020 2019 2018 Fixed indexed annuities $ 20,257 $ 7,304 $ 29,973 Fixed rate annuities 20,433 3,192 5,501 Payouts without life contingencies 545 341 535 Funding agreements 7,679 1,301 650 Life and other deposits 2 (13) 4 Total deposits 48,916 12,125 36,663 Payouts with life contingencies 5,911 6,332 3,408 Life and other premiums 52 50 54 Total premiums 5,963 6,382 3,462 Total premiums and deposits, net of ceded $ 54,879 $ 18,507 $ 40,125 Deposits and premiums collected by the geographical location are as follows: Years ended December 31, (In millions) 2020 2019 2018 United States $ 37,879 $ 17,159 $ 16,421 Bermuda 17,000 1,348 23,704 Total premiums and deposits, net of ceded $ 54,879 $ 18,507 $ 40,125

Quarterly Results of Operations

Quarterly Results of Operations (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	17. Quarterly Results of Operations (Unaudited) The unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 are summarized in the table below: Three months ended (In millions, except per share data) March 31 June 30 September 30 December 31 2020 Total revenues $ (1,549) $ 4,398 $ 3,275 $ 8,640 Total benefits and expenses (167) 3,317 2,251 7,157 Net income (loss) (1,216) 931 884 1,322 Less: Net income (loss) attributable to noncontrolling interests (169) 88 232 229 Net income (loss) attributable to Athene Holding Ltd. shareholders (1,047) 843 652 1,093 Less: Preferred stock dividends 18 19 30 28 Net income (loss) available to Athene Holding Ltd. common shareholders (1,065) 824 622 1,065 Earnings (loss) per share Basic – Class A $ (5.81) $ 4.25 $ 3.22 $ 5.57 Basic – Classes B, M-1, M-2, M-3 and M-4 (3.87) N/A N/A N/A Diluted – Class A (5.81) 4.19 3.16 5.44 Diluted – Class B (3.87) N/A N/A N/A Diluted – Class M-1 (3.87) N/A N/A N/A Diluted – Class M-2 (3.87) N/A N/A N/A Diluted – Class M-3 (3.87) N/A N/A N/A Diluted – Class M-4 (3.87) N/A N/A N/A 2019 Total revenues $ 4,995 $ 3,423 $ 4,584 $ 3,256 Total benefits and expenses 4,255 2,673 4,305 2,723 Net income 708 720 293 464 Less: Net income attributable to noncontrolling interests — — — 13 Net income attributable to Athene Holding Ltd. shareholders 708 720 293 451 Less: Preferred stock dividends — — 17 19 Net income available to Athene Holding Ltd. common shareholders 708 720 276 432 Earnings per share Basic – All classes $ 3.65 $ 3.76 $ 1.50 $ 2.43 Diluted – Class A 3.64 3.75 1.50 2.42 Diluted – Class B 3.65 3.76 1.50 2.43 Diluted – Class M-1 3.65 3.76 1.50 2.43 Diluted – Class M-2 3.65 3.76 1.50 2.43 Diluted – Class M-3 3.65 3.76 1.50 2.43 Diluted – Class M-4 3.15 3.28 1.29 2.13 N/A – Not applicable. See Note 10 – Equity and Note 11 – Earnings Per Share for further information.

Schedule I Summary of Investmen

Schedule I Summary of Investments - Other Than Investments in Related Parties (Notes)	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Text Block]	December 31, 2020 (In millions) Cost or Amortized Cost Fair Value Amount Shown on Consolidated Balance Sheet AFS securities US government and agencies $ 349 $ 351 $ 351 US state, municipal and political subdivisions 864 1,033 1,033 Foreign governments 330 368 368 Public utilities 5,884 6,665 6,665 Redeemable preferred stock 130 141 141 Other corporate 45,920 51,374 51,374 CLO 9,631 9,569 9,569 ABS 4,259 4,270 4,270 CMBS 2,165 2,169 2,169 RMBS 6,568 6,913 6,913 Trading securities 1,770 2,093 2,093 Total fixed maturity securities 77,870 84,946 84,946 Equity securities Banks, trust and insurance companies common stock 433 202 Industrial, miscellaneous and all other common stock 76 68 68 Nonredeemable preferred stocks 250 262 262 Total equity securities 759 330 532 Mortgage loans, net of allowances 15,262 15,264 Investment funds 803 803 Policy loans 369 369 Funds withheld at interest 48,612 48,612 Derivative assets 3,523 3,523 Short-term investments 222 222 Other investments 572 572 Total investments $ 147,992 $ 154,843

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant Condensed Financial Information of Parent	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	December 31, (In millions, except per share data) 2020 2019 Assets Investments Available-for-sale securities, at fair value (amortized cost: 2020 – $43 and 2019 – $56) $ 52 $ 61 Cash and cash equivalents 342 171 Investments in related parties Available-for-sale securities, at fair value (amortized cost: 2020 – $0 and 2019 – $2) — 2 Investment funds 709 132 Other assets 43 6 Notes receivable from subsidiaries 1,393 — Intercompany receivable 21 13 Investments in subsidiaries 18,133 14,085 Total assets $ 20,693 $ 14,470 Liabilities and Equity Liabilities Long-term debt $ 1,976 $ 992 Note payable to subsidiary — 38 Other liabilities 57 40 Intercompany payable 3 9 Total liabilities 2,036 1,079 Equity Preferred stock Series A – par value $1 per share; $863 aggregate liquidation preference; authorized, issued and outstanding: 2020 and 2019 – 0.0 shares — — Series B – par value $1 per share; $345 aggregate liquidation preference; authorized, issued and outstanding: 2020 and 2019 – 0.0 shares — — Series C – par value $1 per share; $600 aggregate liquidation preference; authorized, issued and outstanding: 2020 – 0.0 shares — — Series D – par value $1 per share; $575 aggregate liquidation preference; authorized, issued and outstanding: 2020 – 0.0 shares — — Common stock Class A – par value $0.001 per share; authorized: 2020 and 2019 – 425.0 shares; issued and outstanding: 2020 – 191.5 and 2019 – 143.2 shares — — Class B – par value $0.001 per share; convertible to Class A; authorized: 2020 – 0.0 and 2019 – 325.0 shares; issued and outstanding: 2020 – 0.0 and 2019 – 25.4 shares — — Class M-1 – par value $0.001 per share; convertible to Class A; authorized: 2020 – 0.0 and 2019 – 7.1 shares; issued and outstanding: 2020 – 0.0 and 2019 – 3.3 shares — — Class M-2 – par value $0.001 per share; convertible to Class A; authorized: 2020 – 0.0 and 2019 – 5.0 shares; issued and outstanding: 2020 – 0.0 and 2019 – 0.8 shares — — Class M-3 – par value $0.001 per share; convertible to Class A; authorized: 2020 – 0.0 and 2019 – 7.5 shares; issued and outstanding: 2020 – 0.0 and 2019 – 1.0 shares — — Class M-4 – par value $0.001 per share; convertible to Class A; authorized: 2020 – 0.0 and 2019 – 7.5 shares; issued and outstanding: 2020 – 0.0 and 2019 – 4.0 shares — — Additional paid-in capital 6,613 4,171 Retained earnings 8,073 6,939 Accumulated other comprehensive income 3,971 2,281 Total Athene Holding Ltd. shareholders’ equity 18,657 13,391 Total liabilities and equity $ 20,693 $ 14,470 See accompanying notes to condensed financial information of registrant (parent company only) Years ended December 31, (In millions) 2020 2019 2018 Revenue Net investment income (related party: 2020 – $146, 2019 – $8 and 2018 – $(3)) $ 147 $ 15 $ 17 Investment related gains (losses) (related party: 2020 – $0, 2019 – $1 and 2018 – $24) (50) 6 14 Other revenues — — 20 Total revenues 97 21 51 Benefits and Expenses Operating expenses (related party: 2020 – $13, 2019 – $11 and 2018 – $7) 151 142 124 Total benefits and expenses 151 142 124 Loss before income taxes and equity earnings in subsidiaries (54) (121) (73) Income tax benefit (2) — — Equity earnings in subsidiaries 1,593 2,293 1,126 Net income available to Athene Holding Ltd. shareholders 1,541 2,172 1,053 Less: Preferred stock dividends 95 36 — Net income available to Athene Holding Ltd. common shareholders $ 1,446 $ 2,136 $ 1,053 Net income available to Athene Holding Ltd. shareholders $ 1,541 $ 2,172 $ 1,053 Other comprehensive income (loss) attributable to Athene Holding Ltd. shareholders 1,696 2,787 (1,879) Comprehensive income (loss) attributable to Athene Holding Ltd. shareholders $ 3,237 $ 4,959 $ (826) See accompanying notes to condensed financial information of registrant (parent company only) Years ended December 31, (In millions) 2020 2019 2018 Net cash used in operating activities $ (145) $ (106) $ (66) Cash flows from investing activities Capital contributions to subsidiary (920) (70) (95) Receipts on loans to subsidiaries 50 — 64 Issuances of loans to subsidiaries (237) — (20) Sales, maturities and repayments of: Available-for-sale securities (related party: 2020 – $2, 2019 – $0, and 2018 – $0) 17 4 178 Investment funds – related party — 1 — Short-term investments — — 64 Purchases of: Available-for-sale securities (related party: 2020 – $0, 2019 – $(2), and 2018 – $0) (3) (16) (994) Investment funds – related party (455) (20) — Short-term investments — — (64) Other investing activities, net (51) 27 (90) Net cash used in investing activities (1,599) (74) (957) Cash flows from financing activities Issuance of common stock 351 — — Proceeds from long-term debt 992 — 998 Proceeds from note payable with subsidiary 740 108 105 Repayment of note payable with subsidiary (778) (174) — Issuance of preferred stock, net of expenses 1,140 1,172 — Preferred stock dividends (95) (36) — Repurchase of common stock (428) (832) (105) Other financing activities, net (7) 1 (5) Net cash provided by financing activities 1,915 239 993 Net increase (decrease) in cash and cash equivalents 171 59 (30) Cash and cash equivalents at beginning of year 171 112 142 Cash and cash equivalents at end of year $ 342 $ 171 $ 112 Supplementary information Cash paid for interest $ 61 $ 46 $ 23 Non-cash transactions Non-cash capital contributions to subsidiaries — — 803 Investment in Athora Holding Ltd. received upon deconsolidation — — 108 Issuance of loan to subsidiary in exchange for Class A common shares and capital distribution 1,206 — — See accompanying notes to condensed financial information of registrant (parent company only) 1. Basis of Presentation The accompanying condensed financial statements of Athene Holding Ltd. (AHL) should be read in conjunction with the consolidated financial statements and notes of AHL and its subsidiaries (consolidated financial statements). For purposes of these condensed financial statements, AHL’s wholly owned and majority owned subsidiaries are presented under the equity method of accounting. Under this method, the assets and liabilities of subsidiaries are not consolidated. The investments in subsidiaries are recorded on the condensed balance sheets. The income from subsidiaries is reported on a net basis as equity earnings of subsidiaries on the condensed statements of income. 2. Intercompany Transactions Unsecured Revolving Notes Receivable — AHL has unsecured revolving notes receivable and an unsecured note receivable from subsidiaries Athene USA Corporation (AUSA), Athene Life Re Ltd. (ALRe) and Athene Life Re International Ltd. (ALReI). The unsecured revolving note receivable from AUSA has a borrowing capacity of $250 million and had an outstanding balance of $187 million and $0 million as of December 31, 2020 and 2019, respectively. Interest accrues at a fixed rate of 2.61% per year, and the balance is due on September 30, 2025, or earlier at AHL’s request. The unsecured revolving note receivable from ALRe has a borrowing capacity of $1,000 million and had no outstanding balance as of December 31, 2020 and 2019. Interest accrues at a fixed rate of 1.25% and has a maturity date of March 31, 2024, or earlier at AHL’s request. Additionally, AHL has an unsecured note receivable from ALRe with an outstanding balance of $1,206 million and $0 million as of December 31, 2020 and 2019, respectively. Interest accrues at a fixed rate of 2.34% per year until February 28, 2023, and at the three-month London Interbank Offer Rate rate plus a 0.98% margin thereafter. The balance is due on February 28, 2026, or earlier at AHL’s request. The unsecured revolving note receivable from ALReI has a borrowing capacity of $100 million and had no outstanding balance as of December 31, 2020 and 2019. Interest accrues at the US mid-term applicable federal rate per year and has a maturity date of December 5, 2024, or earlier at AHL’s request. Unsecured Revolving Note Payable — In addition to the unsecured revolving notes receivable described above, AHL has an unsecured revolving note payable with ALRe, which permits AHL to borrow up to $1,000 million with a fixed interest rate of 1.25% and a maturity date of March 31, 2024. As of December 31, 2020 and 2019, the revolving note payable had an outstanding balance of $0 million and $38 million, respectively. Funds in Trust (Restricted Assets)— AHL had agreed to maintain the authorized control level risk-based capital (RBC) of its subsidiary, Athene Life Insurance Company of New York (ALICNY), at an amount not less than 450%. As a result, AHL had established a separate backstop trust account. If ALICNY’s authorized control level RBC fell below 450%, the funds in the backstop trust account would be used to replenish ALICNY’s authorized control level RBC to at least 450%. In 2020, this backstop trust agreement expired and the trust was closed. As of December 31, 2019, the backstop trust account had a fair value of $44 million, consisting of available-for-sale investments and cash. 3. Debt and Guarantees AHL has guaranteed certain of the obligations of AUSA, ALRe, and Athene Annuity Re Ltd. in connection with its revolving credit facility. Additionally, AHL has issued senior notes. See Note 9 – Debt to the consolidated financial statements for further discussion on the credit facility and senior notes. AHL has entered into capital maintenance agreements with each of its material US insurance subsidiaries, pursuant to which AHL agrees to provide capital to the subsidiary to the extent that the capital of the subsidiary falls below a specified threshold as set with the applicable subsidiary’s domestic regulator. In addition, on December 17, 2018, AHL entered into a capital maintenance agreement with its indirect subsidiary Athene London Assignment Corporation (Athene London) pursuant to which AHL agreed to contribute cash, cash equivalents, marketable securities, or other liquid assets so as to maintain capital in Athene London to ensure that it has the necessary funds to timely satisfy any obligations it has under any assumed settlement agreement. AHL does not anticipate making any capital infusions in Athene London pursuant to the capital maintenance agreement. 4. Dividends, Return of Capital and Capital Contributions During the years ended December 31, 2020, 2019 and 2018, AHL received $0 million, $3 million and $50 million, respectively, of dividends from subsidiaries. During the years ended December 31, 2020, 2019 and 2018, AHL contributed $920 million, $70 million and $898 million, respectively, to subsidiaries. See Note 13 – Statutory Requirements to the consolidated financial statements for additional information on subsidiary dividend restrictions. 5. Income Taxes AHL is a tax resident of the United Kingdom (UK). See Note 12 – Income Taxes to the consolidated financial statements for additional information on UK income taxes.

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information (Notes)	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
Supplementary Insurance Information	(In millions) DAC, DSI and VOBA Future policy benefits, losses, claims and loss expenses 1 Other policy claims and benefits Premiums Net investment income Benefits, claims, losses and settlement expenses 2 Amortization of DAC and VOBA Policy and other operating expenses 2020 Retirement Services $ 4,906 $ 173,824 $ 130 $ 5,963 $ 4,619 $ 11,182 $ 521 $ 705 Corporate and other — — — — 266 — — 150 Total $ 4,906 $ 173,824 $ 130 $ 5,963 $ 4,885 $ 11,182 $ 521 $ 855 2019 Retirement Services $ 5,008 $ 126,075 $ 138 $ 6,382 $ 4,479 $ 12,254 $ 958 $ 599 Corporate and other — — — — 117 — — 145 Total $ 5,008 $ 126,075 $ 138 $ 6,382 $ 4,596 $ 12,254 $ 958 $ 744 2018 Retirement Services $ 5,907 $ 113,314 $ 142 $ 3,462 $ 4,016 $ 4,662 $ 174 $ 496 Corporate and other — — — — 44 — — 130 Total $ 5,907 $ 113,314 $ 142 $ 3,462 $ 4,060 $ 4,662 $ 174 $ 626 1 Represents interest sensitive contract liabilities and future policy benefits on the consolidated balance sheets. 2 Represents interest sensitive contract benefits, amortization of deferred sales inducements, future policy and other policy benefits, and dividends to policyholders on the consolidated statements of income.

Schedule IV - Reinsurance (Note

Schedule IV - Reinsurance (Notes)	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
Reinsurance	(In millions, except for percentages) Gross amount Ceded to other companies Assumed from other companies Net amount Percentage of amount assumed to net Year ended December 31, 2020 Life insurance in force at end of year $ 29,527 $ 35,088 $ 6,863 $ 1,302 527.1 % Premiums 5,691 141 413 5,963 6.9 % Year ended December 31, 2019 Life insurance in force at end of year 33,221 39,145 7,317 1,393 525.3 % Premiums 5,449 159 1,092 6,382 17.1 % Year ended December 31, 2018 Life insurance in force at end of year 39,941 45,957 7,857 1,841 426.8 % Premiums 2,813 417 1,066 3,462 30.8 %

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts (Notes)	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	(In millions) Additions Description Balance at beginning of year Charged to costs and expenses Assumed through acquisitions Deductions Balance at end of year Reserves deducted from assets to which they apply Year ended December 31, 2020 Valuation allowance on deferred tax assets $ 63 $ 11 $ — $ — $ 74 Year ended December 31, 2019 Valuation allowance on deferred tax assets 52 31 — (20) 63 Year ended December 31, 2018 Valuation allowance on deferred tax assets 96 9 — (53) 52

Business, Basis of Presentati_2

Business, Basis of Presentation, and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation and Basis of Presentation	Our consolidated financial statements include our wholly owned subsidiaries and investees in which we hold a controlling financial interest, including variable interest entities (VIEs). Investees in which we do not hold a controlling financial interest, but have the ability to exercise significant influence over operating and financing decisions, other than investments for which we have elected the fair value option, are accounted for under the equity method. Intercompany balances and transactions have been eliminated. For entities that are consolidated, but not wholly owned, we allocate a portion of the income or loss and corresponding equity to the owners other than us. We include the aggregate of the income or loss and corresponding equity that is not owned by us in noncontrolling interests in the consolidated financial statements. We report investments in related parties separately, as further described in the accounting policies that follow. We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. There are material risks and uncertainties surrounding the spread of the Coronavirus Disease of 2019 (COVID-19), which has resulted in significant volatility in the financial markets. Our estimates may vary as more information about the extent to which COVID-19 and the resulting impact on economic conditions and the financial markets become known. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • deferred acquisition costs (DAC), deferred sales inducements (DSI) and value of business acquired (VOBA); • future policy benefit reserves; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures.
Basis of Presentation	We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period.
Use of Estimates	We have prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (GAAP), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. There are material risks and uncertainties surrounding the spread of the Coronavirus Disease of 2019 (COVID-19), which has resulted in significant volatility in the financial markets. Our estimates may vary as more information about the extent to which COVID-19 and the resulting impact on economic conditions and the financial markets become known. Actual experience could materially differ from these estimates and assumptions. Our principal estimates impact: • fair value of investments; • impairment of investments and allowances for expected credit losses; • derivatives valuation, including embedded derivatives; • deferred acquisition costs (DAC), deferred sales inducements (DSI) and value of business acquired (VOBA); • future policy benefit reserves; and • valuation allowances on deferred tax assets. Additional details around these principal estimates and assumptions are discussed in the significant accounting policies that follow and the related footnote disclosures.
Investments	Fixed Maturity Securities – Fixed maturity securities includes bonds, collateralized loan obligations (CLO), asset-backed securities (ABS), residential mortgage-backed securities (RMBS), commercial mortgage-backed securities (CMBS) and redeemable preferred stock. We classify fixed maturity securities as available-for-sale (AFS) or trading at the time of purchase and subsequently carry them at fair value. Fair value hierarchy and valuation methodologies are discussed in Note 5 – Fair Value . Classification is dependent on a variety of factors including our expected holding period, election of the fair value option and asset and liability matching. AFS Securities – AFS securities are held at fair value on the consolidated balance sheets with unrealized gains and losses, net of allowances for expected credit losses, tax and adjustments to DAC, DSI, VOBA and future policy benefits, if applicable, generally reflected in accumulated other comprehensive income (loss) (AOCI) on the consolidated balance sheets. Unrealized gains or losses relating to identified risks within AFS securities in fair value hedging relationships are reflected in investment related gains (losses) on the consolidated statements of income. Trading Securities – We elected the fair value option for certain fixed maturity securities. These fixed maturity securities are classified as trading, with changes to fair value included in investment related gains (losses) on the consolidated statements of income. Although the securities are classified as trading, the trading activity related to these investments is primarily focused on asset and liability matching activities and is not intended to be an income strategy based on active trading. As such, the activity related to these investments on the consolidated statements of cash flows is classified as investing activities. We generally record security transactions on a trade date basis, with any unsettled trades recorded in other assets or other liabilities on the consolidated balance sheets. Bank loans, private placements and investment funds are recorded on settlement date basis. Equity Securities – Equity securities includes common stock, mutual funds and non-redeemable preferred stock. Equity securities with readily determinable fair values are carried at fair value with subsequent changes in fair value recognized in net income. We have elected to account for certain equity securities without readily determinable fair values that do not qualify for the practical expedient to estimate fair values based on net asset value (NAV) per share (or its equivalent) at cost less impairment, subject to adjustments based on observable price changes in orderly transactions for identical or similar investments of the same issuer. Purchased Credit Deteriorated (PCD) Investments – We purchase certain structured securities, primarily RMBS, and re-performing mortgage loans having experienced a more-than-insignificant deterioration in credit quality since their origination which upon our assessment have been determined to meet the definition of PCD investments. Additionally, structured securities classified as beneficial interests follow the initial measurement guidance for PCD investments if there is a significant difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The initial allowance for credit losses for PCD investments is recorded through a gross-up adjustment to the initial amortized cost. For mortgage loans, the initial allowance is determined using the methodology described in the Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures section. For structured securities classified as beneficial interests, the initial allowance is calculated as the present value of the difference between contractual cash flows adjusted for expected prepayments and expected cash flows at the date of recognition. The non-credit purchase discount or premium is amortized into investment income using the effective interest method. The credit discount, represented by the allowance for expected credit losses, is remeasured each period following the policies for measuring credit losses described in the Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures and Credit Losses – Available-for-Sale Securities sections below. Purchased Credit Impaired (PCI) Investments – Prior to January 1, 2020, certain securities purchased with deterioration in credit quality since their issuance were accounted for as PCI investments. The difference between the undiscounted expected future cash flows of the PCI investment and the recorded investment represented the initial accretable yield, which was accreted into investment income, net of related expenses, over its remaining life on a level-yield basis. The difference between the contractually required payments on the PCI investment and the undiscounted expected future cash flows represented the non-accretable difference at acquisition. Over time, based on actual payments received and changes in estimates of undiscounted expected future cash flows, the accretable yield and the non-accretable difference could change. PCI investments are presented on the consolidated financial statements consistent with AFS securities or mortgage loans depending on the underlying investment. Quarterly, we evaluated the undiscounted expected future cash flows associated with PCI investments based on updates to key assumptions. Mortgage Loans – Mortgage loans are primarily stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of allowances for expected credit losses. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We record amortization of premiums and discounts using the effective yield method and contractual cash flows on the underlying loan. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Interest income, amortization of premiums and discounts, and prepayment fees are reported in net investment income on the consolidated statements of income. We have also elected the fair value option on a portion of our mortgage loans. Investment Funds – We invest in certain non-fixed income, alternative investments in the form of limited partnerships or similar legal structures (investment funds). For investment funds in which we do not hold a controlling financial interest, and therefore are not required to consolidate, we typically account for these investments using the equity method, where the cost is recorded as an investment in the fund, or we have elected the fair value option. Adjustments to the carrying amount reflect our pro rata ownership percentage of the operating results as indicated by NAV in the investment fund financial statements, which can be on a lag of up to three months when investee information is not received in a timely manner. We record our proportionate share of investment fund income within net investment income on the consolidated statements of income. Contributions paid or distributions received by us are recorded directly to the investment fund balance as an increase to carrying value or as a return of capital, respectively. Policy Loans – Policy loans are funds provided to policyholders in return for a claim on the policyholder’s account balance. The funds provided are limited to a specified percentage of the account balance. The majority of policy loans do not have a stated maturity and the balances and accrued interest are repaid with proceeds from the policyholder’s account balance. Policy loans are reported at the unpaid principal balance. Interest income is recorded as earned using the contract interest rate and is reported in net investment income on the consolidated statements of income. Funds Withheld at Interest – Funds withheld at interest represents a receivable for amounts contractually withheld by ceding companies in accordance with funds withheld coinsurance (funds withheld) and modified coinsurance (modco) reinsurance agreements in which we are the reinsurer. Generally, assets equal to statutory reserves are withheld and legally owned by the ceding company, and any excess or shortfall is settled periodically. The underlying agreements contain embedded derivatives as discussed below. Short-term Investments – Short-term investments consists of financial instruments with maturities of greater than three months but less than twelve months when purchased. Short-term debt securities are accounted for as trading or AFS consistent with our policies for those investments. Short-term loans are carried at amortized cost. Fair values are determined consistent with methodologies described in Note 5 – Fair Value for the respective investment type. Other Investments – Other investments includes, but is not limited to, term loans collateralized by mortgages on residential and commercial real estate. Mortgage collateralized term loans are stated at unpaid principal balance, adjusted for any unamortized premium or discount, and net of allowances for expected credit losses. Interest income is accrued on the principal amount of the loan based on its contractual interest rate. We record amortization of premiums and discounts using the effective interest method and contractual cash flows on the underlying loan. We accrue interest on loans until it is probable we will not receive interest or the loan is 90 days past due. Interest income, amortization of premiums and discounts, and prepayment and other fees are reported in net investment income on the consolidated statements of income. Securities Repurchase and Reverse Repurchase Agreements – Securities repurchase and reverse repurchase transactions involve the temporary exchange of securities for cash or other collateral of equivalent value, with agreement to redeliver a like quantity of the same or similar securities at a future date and at a fixed and determinable price. We evaluate transfers of securities under these agreements to repurchase or resell to determine whether they satisfy the criteria for accounting treatment as secured borrowing or lending arrangements. Agreements not meeting the criteria would require recognition of the transferred securities as sales or purchases, with related forward repurchase or resale commitments. All of our securities repurchase transactions are accounted for as secured borrowings and are included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. Earnings from investing activities related to the cash received under our securities repurchase arrangements are included in net investment income on the consolidated statements of income. The associated borrowing cost is included in policy and other operating expenses on the consolidated statements of income. The investments purchased in reverse repurchase agreements, which represent collateral on a secured lending arrangement, are not reflected in our consolidated balance sheets; however, the secured lending arrangement is recorded as a short-term investment for the principal amount loaned under the agreement. Investment Income – We recognize investment income as it accrues or is legally due, net of investment management and custody fees. Investment income on fixed maturity securities includes coupon interest, as well as the amortization of any premium and the accretion of any discount. Investment income on equity securities represents dividend income and preferred coupons interest. Realized gains and losses on sales of investments are included in investment related gains (losses) on the consolidated statements of income. Realized gains and losses on investments sold are determined based on a first-in first-out method. Credit Losses – Assets Held at Amortized Cost and Off-Balance Sheet Credit Exposures – We establish an allowance for expected credit losses at the time of purchase for assets held at amortized cost, which primarily includes our residential and commercial mortgage loan portfolios, but also includes certain other loans and reinsurance assets. The allowance for expected credit losses represents the portion of the asset's amortized cost basis that we do not expect to collect due to credit losses over the asset's contractual life, considering past events, current conditions, and reasonable and supportable forecasts of future economic conditions or macroeconomic forecasts. We use a quantitative probability of default and loss given default methodology to develop our estimate of expected credit loss. We develop the estimate on a collective basis factoring in the risk characteristics of the assets in the portfolio. If an asset does not share similar risk characteristics with other assets, the asset is individually assessed. Allowance estimates are highly dependent on expectations of future economic conditions and macroeconomic forecasts, which involve significant judgment and subjectivity. We use quantitative modeling to develop the allowance for expected credit losses. Key inputs into the model include data pertaining to the characteristics of the assets, historical losses and current market conditions. Additionally, the model incorporates management’s expectations around future economic conditions and macroeconomic forecasts over a reasonable and supportable forecast period, after which the model reverts to historical averages. These inputs, the reasonable and supportable forecast period, and reversion to historical average technique are subject to a formal governance and review process by management. Additionally, management considers qualitative adjustments to the model output to the extent that any relevant information regarding the collectability of the asset is available and not already considered in the quantitative model. If we determine that a financial asset has become collateral dependent, which we determine to be the point at which foreclosure is probable, the allowance is measured as the difference between amortized cost and the fair value of the collateral, less any expected costs to sell. The initial allowance for invested assets held at amortized cost other than for PCD investments, and subsequent changes in the allowance including PCD investments, are recorded through a charge to credit loss expense within investment related gains (losses) on the consolidated statements of income. Credit loss expense for reinsurance assets held at amortized cost is recorded through policy and other operating expenses on the consolidated statements of income. We limit accrued interest income on loans to 90 days of interest. Once a loan becomes 90 days past due, the loan is put on non-accrual status and any accrued interest is written off. Once a loan is on non-accrual status, we first apply any payments received to the principal of the loan, and once the principal is repaid, we include amounts received in net investment income. We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance given our policy to write off such balances in a timely manner. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income. Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. We also have certain off-balance sheet credit exposures for which we establish a liability for expected credit losses. These exposures primarily relate to commitments to fund commercial or residential mortgage loans that are not unconditionally cancelable. The methodology for estimating the liability for these credit exposures is consistent with that described above, with the additional consideration pertaining to the probability of funding. At the time the commitment expires or is funded, the liability is reversed and an allowance for expected credit losses is established, as applicable. The liability for off-balance sheet credit exposures is included in other liabilities on the consolidated balance sheets. The establishment of the initial liability and all subsequent changes are recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. Credit Losses – Available-for-Sale Securities – We evaluate AFS securities with a fair value that has declined below amortized cost to determine how the decline in fair value should be recognized. If we determine, based on the facts and circumstances related to the specific security, that we intend to sell a security or it is more likely than not that we would be required to sell a security before the recovery of its amortized cost, any existing allowance for expected credit losses is reversed and the amortized cost of the security is written down to fair value. If neither of these conditions exist, we evaluate whether the decline in fair value has resulted from a credit loss or other factors. For non-structured AFS securities, we qualitatively consider relevant facts and circumstances in evaluating whether a decline below fair value is credit - related. Relevant facts and circumstances include but are not limited to: (1) the extent to which the fair value is less than amortized cost; (2) changes in agency credit ratings, (3) adverse conditions related to the security’s industry or geographical area, (4) failure to make scheduled payments, and (5) other known changes in the financial condition of the issuer or quality of any underlying collateral or credit enhancements. For structured AFS securities meeting the definition of beneficial interests, the qualitative assessment is bypassed, and any securities having experienced a decline in fair value below amortized cost move directly to a quantitative analysis. If upon completion of this analysis it is determined that a potential credit loss exists, an allowance for expected credit losses is established equal to the amount by which the present value of expected cash flows is less than amortized cost, limited by the amount by which fair value is less than amortized cost. A non-structured security’s cash flow estimates are derived from scenario-based outcomes of expected corporate restructurings or the disposition of assets using security-specific facts and circumstances including timing, security interests and loss severity. A structured security’s cash flow estimates are based on security-specific facts and circumstances that may include collateral characteristics, expectations of delinquency and default rates, loss severity, prepayments and structural support, including subordination and guarantees. The expected cash flows are discounted at the effective interest rate implicit to the security at the date of purchase or the current yield to accrete a structured security. For securities with a contractual interest rate that varies based on changes in an independent factor, such as an index or rate, the effective interest rate is calculated based on the factor as it changes over the life of the security. Inherently under the discounted cash flow model, both the timing and amount of expected cash flows affect the measurement of the allowance for expected credit losses. The allowance for expected credit losses is remeasured each period for the passage of time, any change in expected cash flows, and changes in the fair value of the security. All impairments, whether intent or requirement to sell or credit-related, are recorded through a charge to credit loss expense within investment related gains (losses) on the consolidated statements of income. All changes in the allowance for expected credit losses are recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income. We have elected to present accrued interest receivable separately in accrued investment income on the consolidated balance sheets. We have also elected the practical expedient to exclude the accrued interest receivable from the amortized cost balance used to calculate the allowance for expected credit losses, as we have a policy to write off such balances in a timely manner, when they become 90 days past due. Any write-off of accrued interest is recorded through a reversal of net investment income on the consolidated statements of income. Upon determining that all or a portion of the amortized cost of an asset is uncollectible, which is generally when all efforts for collection are exhausted, the amortized cost is written off against the existing allowance. Any write off in excess of the existing allowance is recorded through credit loss expense within investment related gains (losses) on the consolidated statements of income.
Derivative Instruments	We invest in derivatives to hedge the risks experienced in our ongoing operations, such as equity, interest rate and cash flow risks, or for other risk management purposes, which primarily involve managing liability risks associated with our indexed annuity products and reinsurance agreements. Derivatives are financial instruments with values that are derived from interest rates, foreign exchange rates, financial indices or other combinations of an underlying and notional. Derivative assets and liabilities are carried at fair value on the consolidated balance sheets. We elect to present any derivatives subject to master netting provisions as a gross asset or liability and gross of collateral. Disclosures regarding balance sheet presentation of derivatives subject to master netting agreements are discussed in Note 3 – Derivative Instruments . We may designate derivatives as cash flow, fair value or net investment hedges. Hedge Documentation and Hedge Effectiveness – To qualify for hedge accounting, at the inception of the hedging relationship, we formally document our designation of the hedge as a cash flow, fair value or net investment hedge and our risk management objective and strategy for undertaking the hedging transaction. In this documentation, we identify how the hedging instrument is expected to hedge the designated risks related to the hedged item and the method that will be used to retrospectively and prospectively assess the hedge effectiveness and the method which will be used to measure ineffectiveness. A derivative designated as a hedging instrument must be assessed as being highly effective in offsetting the designated risk of the hedged item. Hedge effectiveness is formally assessed at inception and periodically throughout the life of the hedge accounting relationship. For a cash flow hedge, all changes in the fair value of the hedging derivative are reported within AOCI and the related gains or losses on the derivative are reclassified into the consolidated statements of income when the cash flows of the hedged item affect earnings. For a fair value hedge, changes in the fair value of the hedging derivative and changes in the fair value of the hedged item related to the designated risk being hedged are reported on the consolidated statements of income according to the nature of the risk being hedged. Additionally, changes in the fair value of amounts excluded from the assessment of effectiveness are recorded in AOCI and amortized into income over the life of the hedge accounting relationship. For a net investment hedge, changes in the fair value of the hedging derivative are reported within AOCI to offset the translation adjustments for subsidiaries with functional currencies other than US dollar. We discontinue hedge accounting prospectively when: (1) we determine the derivative is no longer highly effective in offsetting changes in the estimated cash flows or fair value of a hedged item; (2) the derivative expires, is sold, terminated, or exercised; or (3) the derivative is de-designated as a hedging instrument. When hedge accounting is discontinued, the derivative continues to be carried on the consolidated balance sheets at fair value, with changes in fair value recognized in investment related gains (losses) on the consolidated statements of income. For a derivative not designated as a hedge, changes in the derivative’s fair value and any income received or paid on derivatives at the settlement date are included in investment related gains (losses) on the consolidated statements of income. Embedded Derivatives – We issue and reinsure products, primarily fixed indexed annuity products, or purchase investments that contain embedded derivatives. If we determine the embedded derivative has economic characteristics not clearly and closely related to the economic characteristics of the host contract, and a separate instrument with the same terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host contract and accounted for separately, unless the fair value option is elected on the host contract. Under the fair value option, bifurcation of the embedded derivative is not necessary as the entire contract is carried at fair value with all related gains and losses recognized in investment related gains (losses) on the consolidated statements of income. Embedded derivatives are carried on the consolidated balance sheets at fair value in the same line item as the host contract. Fixed indexed annuity, index-linked variable annuity and indexed universal life insurance contracts allow the policyholder to elect a fixed interest rate return or an equity market component for which interest credited is based on the performance of certain stock market indices. The equity market option is an embedded derivative. The benefit reserve is equal to the sum of the fair value of the embedded derivative and the host (or guaranteed) component of the contracts. The fair value of the embedded derivatives is computed as the present value of benefits attributable to the excess of the projected policy contract values over the projected minimum guaranteed contract values. The projections of policy contract values are based on assumptions for future policy growth, which include assumptions for expected index credits on the next policy anniversary date, future equity option costs, volatility, interest rates and policyholder behavior assumptions including lapses and the use of benefit riders. The projections of minimum guaranteed contract values include the same assumptions for policyholder behavior as were used to project policy contract values. The embedded derivative cash flows are discounted using a rate that reflects our own credit rating. The host contract is established at contract inception as the initial account value less the initial fair value of the embedded derivative and accreted over the policy’s life. The host contract accretion rate is updated each quarter so that the present value of actual and expected guaranteed cash flows is equal to the initial host value. Changes in the fair value of embedded derivatives associated with fixed indexed annuities, index-linked variable annuities and indexed universal life insurance contracts are included in interest sensitive contract benefits on the consolidated statements of income. Additionally, reinsurance agreements written on a funds withheld or modco basis contain embedded derivatives. We have determined that the right to receive or obligation to pay the total return on the assets supporting the funds withheld at interest or funds withheld liability, respectively, represents a total return swap with a floating rate leg. The fair value of embedded derivatives on funds withheld and modco agreements is computed as the unrealized gain (loss) on the underlying assets and is included within funds withheld at interest and funds withheld liability on the consolidated balance sheets for assumed and ceded agreements, respectively. The change in the fair value of the embedded derivatives is recorded in investment related gains (losses) on the consolidated statements of income. Assumed and ceded earnings from funds withheld at interest, funds withheld liability and changes in the fair value of embedded derivatives are reported in operating activities on the consolidated statements of cash flows. Contributions to and withdrawals from funds withheld at interest and funds withheld liability are reported in operating activities on the consolidated statements of cash flows.
Variable Interest Entities	An entity that does not have sufficient equity to finance its activities without additional financial support, or in which the equity investors, as a group, do not have the characteristics typically afforded to common shareholders is a VIE. The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and may require significant judgment. Our investment funds typically qualify as VIEs and are evaluated for consolidation under the VIE model. We are required to consolidate a VIE if we are the primary beneficiary, defined as the variable interest holder with both the power to direct the activities that most significantly impact the VIE’s economic performance and rights to receive benefits or obligations to absorb losses that could be potentially significant to the VIE. We determine whether we are the primary beneficiary of an entity based on a qualitative assessment of the VIE’s capital structure, contractual terms, nature of the VIE’s operations and purpose and our relative exposure to the related risks of the VIE. Since affiliates of Apollo Global Management, Inc. (AGM and, together with its subsidiaries, Apollo), a related party, are the decision makers in certain of the investment funds, we and a member of our related party group may together have the characteristics of the primary beneficiary of an investment fund. In this situation, we have concluded we are not under common control, as defined by GAAP, with the related party, and therefore we do not consolidate because the related party, whom is the decision maker, holds a significant indirect financial interest in the investee through its ownership interest in us. We reassess the VIE and primary beneficiary determinations on an ongoing basis. For entities that we do not consolidate but can exercise significant influence over the entities’ operating and financing decisions, we record our investment under the equity method. If we do not consolidate and do not have significant influence, generally on investment funds in which we own a less than 3% interest, we elect the fair value option.
Reinsurance	We assume and cede insurance and investment contracts under coinsurance, funds withheld and modco. We follow reinsurance accounting for transactions that provide indemnification against loss or liability relating to insurance risk (risk transfer). To meet risk transfer requirements, a reinsurance agreement must transfer insurance risk arising from uncertainties about both underwriting and timing risks. Cessions under reinsurance do not discharge our obligations as the primary insurer, unless the requirements of assumption reinsurance have been met. We generally have the right of offset on reinsurance contracts, but have elected to present reinsurance settlement amounts due to and from the Company on a gross basis. Assets and liabilities assumed or ceded under coinsurance, funds withheld, or modco are presented gross on the consolidated balance sheets. For investment contracts, the change in assumed and ceded reserves are presented net in interest sensitive contract benefits on the consolidated statements of income. For insurance contracts, the change in assumed and ceded reserves and benefits are presented net in future policy and other policy benefits on the consolidated statements of income. Assumed or ceded premiums are included in premiums on the consolidated statements of income. Accounting for reinsurance requires the use of assumptions, particularly related to the future performance of the underlying business and the potential impact of counterparty credit risks. We attempt to minimize our counterparty credit risk through the structuring of the terms of our reinsurance agreements, including the use of trusts, and we monitor credit ratings of counterparties for signs of declining credit quality. When a ceding company does not report information on a timely basis, we record accruals based on the best available information at the time, which includes the reinsurance agreement terms and historical experience. We periodically compare actual and anticipated experience to the assumptions used to establish reinsurance assets and liabilities. See Note 6 – Reinsurance for more information.
Cash and Cash Equivalents	Cash and cash equivalents include deposits and short-term highly liquid investments with a maturity of less than 90 days from the date of acquisition. Amounts included are readily convertible to known amounts of cash and are subject to an insignificant risk of change in value.
Restricted Cash	Restricted cash primarily consists of cash and cash equivalents held in funds in trust as part of certain coinsurance agreements to secure statutory reserves and liabilities of the coinsured parties. Restricted cash is reported separately on the consolidated balance sheets, but is included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the consolidated statements of cash flows.
Investments in Related Parties	Investments in related parties and associated earnings, other comprehensive income and cash flows are separately identified on the consolidated financial statements and accounted for consistently with the policies described above for each category of investment. Investments in related parties are primarily comprised of investments over which Apollo can exercise significant influence.
Deferred Acquisition Costs	Costs related directly to the successful acquisition of new, or renewal of, insurance or investment contracts are deferred to the extent they are recoverable from future premiums or gross profits. These costs consist of commissions and policy issuance costs, as well as sales inducements credited to policyholder account balances, and are included in deferred acquisition costs, deferred sales inducements and value of business acquired on the consolidated balance sheets. We perform periodic tests, including at issuance, to determine if the deferred costs are recoverable. If we determine that the deferred costs are not recoverable, we record a cumulative charge to the current period.Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds are amortized over the lives of the policies, based upon the proportion of the present value of actual and expected deferred costs to the present value of actual and expected gross profits to be earned over the life of the policies. Gross profits include investment spread margins, surrender charge income, policy administration charges and expenses, changes in the guaranteed lifetime withdrawal benefit (GLWB) and guaranteed minimum death benefit (GMDB) reserves and realized gains and losses on investments. Current period gross profits for fixed indexed annuities also include the change in fair value of both freestanding and embedded derivatives. Estimates of the expected gross profits and margins are based on assumptions using accepted actuarial methods related to policyholder behavior, including lapses and the utilization of benefit riders, mortality, yields on investments supporting the liabilities, future interest credited amounts (including indexed related credited amounts on fixed indexed annuity products), and other policy changes as applicable, and the level of expenses necessary to maintain the policies over their expected lives. Each reporting period, we update estimated gross profits with actual gross profits as part of the amortization process and adjust the DAC and DSI balances due to the other comprehensive income (OCI) effects of unrealized investment gains and losses on AFS securities. We also periodically revise the key assumptions used in the amortization calculation, which results in revisions to the estimated future gross profits. The effects of changes in assumptions are recorded as unlocking in the period in which the changes are made.Deferred costs related to investment contracts without significant revenue streams from sources other than investment of the policyholder funds are amortized using the effective interest method. The effective interest method amortizes the deferred costs by discounting the future liability cash flows at a break-even rate. The break-even rate is solved for such that the present value of future liability cash flows is equal to the net liability at the inception of the contract.
Deferred Sales Inducements	Costs related directly to the successful acquisition of new, or renewal of, insurance or investment contracts are deferred to the extent they are recoverable from future premiums or gross profits. These costs consist of commissions and policy issuance costs, as well as sales inducements credited to policyholder account balances, and are included in deferred acquisition costs, deferred sales inducements and value of business acquired on the consolidated balance sheets. We perform periodic tests, including at issuance, to determine if the deferred costs are recoverable. If we determine that the deferred costs are not recoverable, we record a cumulative charge to the current period.Deferred costs related to universal life-type policies and investment contracts with significant revenue streams from sources other than investment of the policyholder funds are amortized over the lives of the policies, based upon the proportion of the present value of actual and expected deferred costs to the present value of actual and expected gross profits to be earned over the life of the policies. Gross profits include investment spread margins, surrender charge income, policy administration charges and expenses, changes in the guaranteed lifetime withdrawal benefit (GLWB) and guaranteed minimum death benefit (GMDB) reserves and realized gains and losses on investments. Current period gross profits for fixed indexed annuities also include the change in fair value of both freestanding and embedded derivatives. Estimates of the expected gross profits and margins are based on assumptions using accepted actuarial methods related to policyholder behavior, including lapses and the utilization of benefit riders, mortality, yields on investments supporting the liabilities, future interest credited amounts (including indexed related credited amounts on fixed indexed annuity products), and other policy changes as applicable, and the level of expenses necessary to maintain the policies over their expected lives. Each reporting period, we update estimated gross profits with actual gross profits as part of the amortization process and adjust the DAC and DSI balances due to the other comprehensive income (OCI) effects of unrealized investment gains and losses on AFS securities. We also periodically revise the key assumptions used in the amortization calculation, which results in revisions to the estimated future gross profits. The effects of changes in assumptions are recorded as unlocking in the period in which the changes are made.Deferred costs related to investment contracts without significant revenue streams from sources other than investment of the policyholder funds are amortized using the effective interest method. The effective interest method amortizes the deferred costs by discounting the future liability cash flows at a break-even rate. The break-even rate is solved for such that the present value of future liability cash flows is equal to the net liability at the inception of the contract.
Value of Business Acquired	We establish VOBA for blocks of insurance contracts acquired through the acquisition of insurance entities. We record the fair value of the liabilities assumed in two components: reserves and VOBA. Reserves are established using our best estimate assumptions consistent with the policies described below for future policy benefits and interest sensitive contract liabilities. VOBA is the difference between the fair value of the liabilities and the reserves. VOBA can be either positive or negative. Any negative VOBA is recorded to the same financial statement line on the consolidated balance sheets as the associated reserves. Positive VOBA is recorded in deferred acquisition costs, deferred sales inducements and value of business acquired on the consolidated balance sheets. We perform periodic tests to determine if the VOBA remains recoverable. If we determine that VOBA is not recoverable, we record a cumulative charge to the current period.VOBA associated with investment contracts without significant revenue streams from sources other than investment of the policyholder funds is amortized using the effective interest method. VOBA associated with immediate annuity contracts classified as long duration contracts is amortized at a constant rate in relation to net policyholder liabilities. For universal life-type policies and investment contracts with significant revenue streams from sources other than investment of policyholder funds, VOBA is amortized in relation to the present value of estimated gross profits using methods consistent with those used to amortize DAC and DSI. Negative VOBA is amortized at a constant rate in relation to applicable net policyholder liabilities.
Interest Sensitive Contract Liabilities	life-type policies and investment contracts include fixed indexed and traditional fixed annuities in the accumulation phase, funding agreements, universal life insurance, fixed indexed universal life insurance and immediate annuities without significant mortality risk (which includes pension risk transfer (PRT) annuities without life contingencies). We carry liabilities for fixed annuities, universal life insurance and funding agreements at the account balances without reduction for potential surrender or withdrawal charges, except for a block of universal life business ceded to Global Atlantic Financial Group Limited (together with its subsidiaries, Global Atlantic) which we carry at fair value. Liabilities for immediate annuities without significant mortality risk are calculated as the present value of future liability cash flows and policy maintenance expenses discounted at contractual interest rates. For a discussion regarding our indexed products, refer above to the embedded derivative discussion.Changes in the interest sensitive contract liabilities, excluding deposits and withdrawals, are recorded in interest sensitive contract benefits or product charges on the consolidated statements of income. Interest sensitive contract liabilities are not reduced for amounts ceded under reinsurance agreements which are reported as reinsurance recoverable on the consolidated balance sheets.
Future Policy Benefits	We issue contracts classified as long-duration, which includes term and whole life, accident and health, disability, and deferred and immediate annuities with life contingencies (which includes PRT annuities with life contingencies). Liabilities for non-participating long-duration contracts are established using accepted actuarial valuation methods which require the use of assumptions related to expenses, investment yields, mortality, morbidity and persistency, with a provision for adverse deviation, at the date of issue or acquisition. As of December 31, 2020, the reserve investment yield assumptions for non-participating contracts range from 2.3% to 5.4% and are specific to our expected earned rate on the asset portfolio supporting the reserves. We base other key assumptions, such as mortality and morbidity, on industry standard data adjusted to align with actual company experience, if necessary. For long-duration contracts, the assumptions are locked in at contract inception and only modified if we deem the reserves to be inadequate. We periodically review actual and anticipated experience compared to the assumptions used to establish policy benefits. If the net GAAP liability (gross reserves less DAC, DSI and VOBA) is less than the gross premium liability, impairment is deemed to have occurred, and the DAC, DSI and VOBA asset balances are reduced until the net GAAP liability is equal to the gross premium liability. If the DAC, DSI and VOBA asset balances are completely written off and the net GAAP liability is still less than the gross premium liability, then an additional liability is recorded to arrive at the gross premium liability. We issue and reinsure deferred annuity contracts which contain GLWB and GMDB riders. We establish future policy benefits for GLWB and GMDB riders by estimating the expected value of withdrawal and death benefits in excess of the projected policyholder account balances. We recognize the excess proportionally over the accumulation period based on total actual and expected assessments. The methods we use to estimate the liabilities have assumptions about policyholder behavior, which includes lapses, withdrawals and utilization of benefit riders; mortality, expected yield on investments supporting the liability; and market conditions affecting the account balance growth. Future policy benefits includes liabilities for no-lapse guarantees on universal life insurance and fixed indexed universal life insurance. We establish future policy benefits for no-lapse guarantees by estimating the expected value of death benefits paid after policyholder account balances have been exhausted. We recognize these benefits proportionally over the life of the contracts based on total actual and expected assessments. The methods we use to estimate the liabilities have assumptions about policyholder behavior, mortality, expected yield on investments supporting the liability, and market conditions affecting policyholder account balance growth. For the liabilities associated with GLWB and GMDB riders and no-lapse guarantees, each reporting period, we update expected excess benefits and assessments with actual excess benefits and assessments and adjust the liability balances due to the OCI effects of unrealized investment gains and losses on AFS securities. We also periodically revise the key assumptions used in the calculation of the liabilities which results in revisions to the expected excess benefits and assessments. The effects of changes in assumptions are recorded as unlocking in the period in which the changes are made.
Closed Block Business	We established closed blocks of policies in connection with the reorganization of two predecessor subsidiaries from mutual companies to stock companies, collectively referred to as the Closed Blocks, and individually referred to as the AmerUs Life Insurance Company (AmerUs) closed block (AmerUs Closed Block) and the Indianapolis Life Insurance Company (ILICO) closed block (ILICO Closed Block). Insurance policies which had a dividend scale in effect as of each closed block establishment date were included in the respective closed block. The Closed Blocks were designed to give reasonable assurance to owners of insurance policies included therein that, after the reorganization, assets would be available to maintain the dividend scales and interest credits in effect prior to the reorganization, if the experience underlying such scales and crediting continued. The assets, including related revenue, allocated to the Closed Blocks will accrue solely to the benefit of the policyholders included in the Closed Blocks until they no longer exist. A policyholder dividend obligation is required to be established for earnings in the Closed Blocks that are not available to the shareholders. We have elected the fair value option for the AmerUs Closed Block and the ILICO Closed Block.
Other Policy Claims and Benefits	Other policy claims and benefits include amounts payable relating to in course of settlements (ICOS) and incurred but not reported (IBNR) liabilities associated with interest sensitive contract liabilities and future policy benefits. For traditional life and universal life policies, ICOS claim liabilities are established when we are notified of the death of the policyholder but the claim has not been paid as of the reporting date. For immediate annuities and supplemental contracts, ICOS claim liabilities are established to accrue suspended benefit payments between the date of notification of death and the date of verification of death.We determine IBNR claim liabilities using studies of past experience. The time that elapses from the death or claim date to when the claim is reported to us can vary significantly by product type, but generally ranges between one to six months for life business. We estimate IBNR claims on an undiscounted basis, using actuarial estimates of historical claims expense, adjusted for current trends and conditions. These estimates are continually reviewed and the ultimate liability may vary significantly from the amount recognized.
Dividends Payable to Policyholders	Participating policies entitle the policyholders to receive dividends based on actual interest, mortality, morbidity and expense experience for the year. Dividends are distributed to the policyholders through annual or terminal dividends which the board of directors of the applicable insurance subsidiary approves. As of December 31, 2020 and 2019, 10% of life policies, inclusive of ceded policies, were participating, and the related liability is recorded in dividends payable to policyholders on the consolidated balance sheets. Premiums related to participating policies represented 32%, 30% and 26% of total life insurance direct premiums and deposits for the years ended December 31, 2020, 2019 and 2018, respectively.Policyholder dividend liabilities are recorded in dividends payable to policyholders on the consolidated balance sheets and policyholder dividends are recorded in dividends to policyholders on the consolidated statements of income.
Share Repurchase	When shares are repurchased, we can choose to record treasury shares or account for the repurchase as a constructive retirement. We have accounted for share repurchases as constructive retirement, whereby we reduce common stock and additional paid-in capital by the amount of the original issuance, with any excess purchase price recorded as a reduction to retained earnings. Under this method, issued and outstanding shares are reduced by the shares repurchased, and no treasury stock is recognized on the consolidated balance sheets.
Earnings Per Share	We compute basic earnings per share (EPS) by dividing unrounded net income available to Athene Holding Ltd. shareholders by the weighted average number of common shares eligible for earnings and outstanding for the period. As a result, it may not be possible to recalculate EPS as presented in our consolidated financial statements. Diluted earnings per share includes the effect of all potentially dilutive instruments, such as common shares, options and restricted stock units (RSUs), outstanding during the period.
Foreign Currency	The accounts of foreign-based subsidiaries and equity method investments are measured using their functional currency. Revenue and expenses of these subsidiaries are translated into US dollars at the average exchange rate for the period. Assets and liabilities are translated at the exchange rate as of the end of the reporting period. For the equity method investments, our proportionate share of the investee’s income is translated into US dollars at the average exchange rate for the period and our investment is translated using the exchange rate as of the end of the reporting period. The resulting translation adjustments are included in equity as a component of AOCI. Gains or losses arising from transactions denominated in a currency other than the functional currency of the entity that is party to the transaction are included in net income. The impacts of any non-US dollar denominated AFS securities are included in AOCI along with the change in its fair value unless in a fair value hedging relationship as discussed in – Derivative Instruments above.
Recognition of Revenues and Related Expenses	Revenues for universal life-type policies and investment contracts, including surrender and market value adjustments, costs of insurance, policy administration, GMDB, GLWB and no-lapse guarantee charges, are earned when assessed against policyholder account balances during the period. Interest credited to policyholder account balances and the change in fair value of embedded derivatives within fixed indexed annuity contracts is included in interest sensitive contract benefits on the consolidated statements of income. Premiums for long-duration contracts, including products with fixed and guaranteed premiums and benefits, are recognized as revenue when due from policyholders. When premiums are due over a significantly shorter period than the period over which benefits are provided, such as immediate annuities with life contingencies (which includes PRT annuities), a deferred profit liability is established equal to the excess of the gross premium over the net premium. The deferred profit liability is recognized in future policy benefits on the consolidated balance sheets and amortized into income in a constant relationship to the benefit reserve through future policy and other policy benefits on the consolidated statements of income. All insurance related revenue is reported net of reinsurance ceded.
Income Taxes	We compute income taxes using the asset and liability method, under which deferred income taxes are provided for the temporary differences between the financial statement carrying amounts and the tax basis of our assets and liabilities using estimated tax rates expected to be in effect for the year in which the differences are expected to reverse. Such temporary differences are primarily due to the tax basis of reserves, DAC, VOBA, unrealized investment gains/losses, reinsurance related differences, embedded derivatives and net operating loss carryforwards. Changes in deferred income tax assets and liabilities associated with components of OCI are recorded directly to OCI. We evaluate the likelihood of realizing the benefit of our deferred tax assets and may record a valuation allowance if, based on all available evidence, we determine that it is more likely than not that some portion of the tax benefit will not be realized. We adjust the valuation allowance if, based on our evaluation, there is a change in the amount of deferred income tax assets that are deemed more-likely-than-not to be realized. Changes in deferred tax assets and liabilities attributable to changes in enacted income tax rates are recorded through net income in the period of enactment. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of our position. For those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. We recognize any income tax interest and penalties in income tax expense.
Reclassifications	Certain reclassifications have been made to conform with current year presentation.
Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Adopted Accounting Pronouncements Reference Rate Reform (Topic 848) – Facilitation of the effects of Reference Rate Reform on Financial Reporting (ASU 2021-01, ASU 2020-04) The new guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, derivative contracts (including derivative instruments that use interest rates for margining, discounting, or contract price alignment), and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made or hedging relationships entered into or evaluated after December 31, 2022, with exceptions for certain hedging relationships. The amendments are available for election from March 12, 2020 through December 31, 2022. This guidance may be elected and applied prospectively as contracts and hedging relationships are amended for the effects of reference rate reform. We adopted this update effective October 1, 2020. This update did not have a material impact on our consolidated financial statements. We will continue to evaluate the impacts of reference rate reform on contract modifications and hedging relationships. Financial Instruments – Credit Losses (ASU 2019-05, ASU 2019-04, ASU 2018-19 and ASU 2016-13) This update limits the number of credit impairment models used for different assets and results in accelerated credit loss recognition on assets held at amortized cost, which primarily includes our commercial and residential mortgage loans, but also includes certain other loans and reinsurance assets. The identification of PCD financial assets includes all assets that have experienced a more-than-insignificant deterioration in credit since origination. Additionally, changes in the expected cash flows of purchased credit-deteriorated financial assets are recognized immediately in the income statement. AFS securities are not in scope of the new credit loss model, but were subject to targeted improvements including the establishment of a valuation allowance for credit losses versus the previous direct write down approach. We adopted this update effective January 1, 2020 with a cumulative-effect adjustment that decreased retained earnings by $117 million, net of tax and offsetting impacts to DAC, DSI, VOBA and the SOP 03-1 reserve which amounted to $74 million. The adjustment to retained earnings primarily relates to the establishment of an allowance on our commercial mortgage loan portfolio, which represented 1.59% of the amortized cost of the portfolio, but also includes immaterial impacts relating to other assets in scope, including residential mortgage loans, funds withheld at interest, and reinsurance recoverable. Additionally, the update requires investments previously considered purchased credit impaired (PCI), which includes certain of our residential mortgage loans and RMBS to become subject to a modified PCD framework at the transition date. Any required allowance at transition for these assets is to be recorded through a gross-up of the amortized cost, rather than a charge to retained earnings. Additionally, under the AFS impairment model, the recording of an allowance is prohibited in instances where fair value exceeds amortized cost as such securities are not considered impaired under the AFS impairment model. Therefore, no allowance was recorded at transition for PCI RMBS that were in an unrealized gain position. The transition increase in amortized cost and corresponding valuation allowance for residential mortgage loans and RMBS was $36 million and $17 million, respectively. Collaborative Arrangements (ASU 2018-18) The amendments in this update provide guidance on whether certain transactions between collaborative arrangement participants should be accounted for as revenue under Topic 606, providing comparability in the presentation of revenue for certain transactions. We adopted this update effective January 1, 2020. This update did not have a material effect on our consolidated financial statements. Consolidation (ASU 2018-17) The amendments in this update expand certain discussions in the VIE guidance, including considerations necessary for determining when a decision-making fee is a variable interest. We adopted this update effective January 1, 2020. This update did not have a material effect on our consolidated financial statements. Cloud Computing Arrangements (ASU 2018-15) The amendments in this update align the requirements for capitalizing implementation costs incurred in a cloud computing service arrangement with the requirements for capitalizing implementation costs incurred for internal-use software. We adopted this update on a prospective basis effective January 1, 2020. This update did not have a material effect on our consolidated financial statements. Fair Value Measurement – Disclosure Requirements (ASU 2018-13) The amendments in this update modify the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. On October 1, 2018, we early adopted the removal and modification of certain disclosures as permitted. The additional disclosures in the update were adopted effective January 1, 2020. This update did not have a material effect on our consolidated financial statements. Intangibles – Simplifying the Test for Goodwill Impairment (ASU 2017-04) The amendments in this update simplify the subsequent measurement of goodwill by eliminating the comparison of the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill to determine the goodwill impairment loss. With the adoption of this guidance, a goodwill impairment is the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of the goodwill allocated to that reporting unit. Entities continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. We do not have material goodwill and adopted this update on a prospective basis effective January 1, 2020. This update did not have a material effect on our consolidated financial statements. Recently Issued Accounting Pronouncements Insurance – Targeted Improvements to the Accounting for Long-Duration Contracts (ASU 2020-11, ASU 2019-09, ASU 2018-12) These updates amend four key areas pertaining to the accounting and disclosures for long-duration insurance and investment contracts. • The update requires cash flow assumptions used to measure the liability for future policy benefits to be updated at least annually and no longer allows a provision for adverse deviation. The remeasurement of the liability associated with the update of assumptions is required to be recognized in net income. Loss recognition testing is eliminated for traditional and limited-payment contracts. The update also requires the discount rate used in measuring the liability to be an upper-medium grade fixed-income instrument yield, which is to be updated at each reporting date. The change in liability due to changes in the discount rate is to be recognized in other comprehensive income. • The update simplifies the amortization of deferred acquisition costs and other balances amortized in proportion to premiums, gross profits, or gross margins, requiring such balances to be amortized on a constant level basis over the expected term of the contracts. Deferred costs are required to be written off for unexpected contract terminations but are not subject to impairment testing. • The update requires certain contract features meeting the definition of market risk benefits to be measured at fair value. Among the features included in this definition are the GLWB and GMDB riders attached to our annuity products. The change in fair value of the market risk benefits is to be recognized in net income, excluding the portion attributable to changes in instrument-specific credit risk which is recognized in other comprehensive income. • The update also introduces disclosure requirements around the liability for future policy benefits, policyholder account balances, market risk benefits, separate account liabilities, and deferred acquisition costs. This includes disaggregated rollforwards of these balances and information about significant inputs, judgments, assumptions and methods used in their measurement. We are required to adopt these updates on January 1, 2023. Certain provisions of the update are required to be adopted on a fully retrospective basis, while others may be adopted on a modified retrospective basis. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements. Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs (ASU 2020-08) The amendments in this update clarify that callable debt securities should be reevaluated each reporting period to determine if the amortized cost exceeds the amount repayable by the issuer at the next earliest call date and, if so, the excess should be amortized to the next call date. We will be required to adopt this update January 1, 2021 and apply it on a prospective basis for existing or newly purchased callable debt securities. Early adoption is not permitted. We do not expect that the adoption of this update will have a material effect on our consolidated financial statements. Income Taxes – Simplifying the Accounting for Income Taxes (ASU 2019-12) The amendments in this update simplify the accounting for income taxes by eliminating certain exceptions to the tax accounting guidance 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 related to foreign investment ownership changes. It also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill and allocating consolidated income taxes to separate financial statements of entities not subject to income tax. We will be required to adopt this update January 1, 2021 and apply certain aspects of the update retrospectively while other aspects will be applied on a modified retrospective basis. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial statements.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	The following table represents the amortized cost, allowance for credit losses, gross unrealized gains and losses and fair value our AFS investments by asset type: December 31, 2020 (In millions) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value AFS securities US government and agencies $ 349 $ — $ 3 $ (1) $ 351 US state, municipal and political subdivisions 864 — 169 — 1,033 Foreign governments 330 — 38 — 368 Corporate 51,934 (6) 6,368 (116) 58,180 CLO 9,631 (1) 145 (206) 9,569 ABS 4,259 (6) 140 (123) 4,270 CMBS 2,165 (10) 85 (71) 2,169 RMBS 6,568 (80) 447 (22) 6,913 Total AFS securities 76,100 (103) 7,395 (539) 82,853 AFS securities – related party Corporate 213 — 2 — 215 CLO 1,511 (1) 23 (13) 1,520 ABS 4,720 — 95 (30) 4,785 Total AFS securities – related party 6,444 (1) 120 (43) 6,520 Total AFS securities including related party $ 82,544 $ (104) $ 7,515 $ (582) $ 89,373 The following table represents the amortized cost, gross unrealized gains and losses, fair value and other-than-temporary impairment ( OTTI) in AOCI of our AFS investments by asset type: December 31, 2019 (In millions) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value OTTI AFS securities US government and agencies $ 35 $ 1 $ — $ 36 $ — US state, municipal and political subdivisions 1,322 220 (1) 1,541 — Foreign governments 298 29 — 327 — Corporate 44,106 3,332 (210) 47,228 1 CLO 7,524 21 (196) 7,349 — ABS 5,018 124 (24) 5,118 4 CMBS 2,304 104 (8) 2,400 1 RMBS 6,872 513 (10) 7,375 19 Total AFS securities 67,479 4,344 (449) 71,374 25 AFS securities – related party Corporate 18 1 — 19 — CLO 951 3 (18) 936 — ABS 2,814 37 (2) 2,849 — Total AFS securities – related party 3,783 41 (20) 3,804 — Total AFS securities including related party $ 71,262 $ 4,385 $ (469) $ 75,178 $ 25
Available-for-sale Securities by Contractual Maturity	The amortized cost and fair value of AFS securities, including related party, are shown by contractual maturity below: December 31, 2020 (In millions) Amortized Cost Fair Value AFS securities Due in one year or less $ 817 $ 829 Due after one year through five years 8,146 8,684 Due after five years through ten years 13,975 15,235 Due after ten years 30,539 35,184 CLO, ABS, CMBS and RMBS 22,623 22,921 Total AFS securities 76,100 82,853 AFS securities – related party Due after one year through five years 18 20 Due after five years through ten years 195 195 CLO and ABS 6,231 6,305 Total AFS securities – related party 6,444 6,520 Total AFS securities including related party $ 82,544 $ 89,373
Fair Values and Unrealized Losses on Available-for-sale Securities	The following summarizes the fair value and gross unrealized losses for AFS securities, including related party, for which an allowance for credit losses has not been recorded, aggregated by asset type and length of time the fair value has remained below amortized cost: December 31, 2020 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Fair Value Gross AFS securities US government and agencies $ 31 $ (1) $ — $ — $ 31 $ (1) US state, municipal and political subdivisions 9 — 6 — 15 — Foreign governments 2 — — — 2 — Corporate 2,218 (66) 248 (24) 2,466 (90) CLO 1,649 (33) 3,179 (167) 4,828 (200) ABS 1,169 (73) 84 (18) 1,253 (91) CMBS 710 (37) 48 (13) 758 (50) RMBS 548 (11) 37 (2) 585 (13) Total AFS securities 6,336 (221) 3,602 (224) 9,938 (445) AFS securities – related party CLO 336 (3) 232 (10) 568 (13) ABS 1,012 (30) — — 1,012 (30) Total AFS securities – related party 1,348 (33) 232 (10) 1,580 (43) Total AFS securities including related party $ 7,684 $ (254) $ 3,834 $ (234) $ 11,518 $ (488) The following summarizes the fair value and gross unrealized losses for AFS securities, including related party, aggregated by asset type and length of time the fair value has remained below amortized cost: December 31, 2019 Less than 12 months 12 months or more Total (In millions) Fair Value Gross Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses AFS securities US government and agencies $ 3 $ — $ — $ — $ 3 $ — US state, municipal and political subdivisions 78 (1) 10 — 88 (1) Corporate 2,898 (140) 902 (70) 3,800 (210) CLO 1,959 (38) 3,241 (158) 5,200 (196) ABS 642 (6) 255 (18) 897 (24) CMBS 220 (4) 41 (4) 261 (8) RMBS 445 (6) 163 (4) 608 (10) Total AFS securities 6,245 (195) 4,612 (254) 10,857 (449) AFS securities – related party CLO 362 (7) 242 (11) 604 (18) ABS 357 (2) — — 357 (2) Total AFS securities – related party 719 (9) 242 (11) 961 (20) Total AFS securities including related party $ 6,964 $ (204) $ 4,854 $ (265) $ 11,818 $ (469)
Schedule of Unrealized Loss on Investments	The following summarizes the number of AFS securities that were in an unrealized loss position, including related party, for which an allowance for credit losses has not been recorded: December 31, 2020 Unrealized loss position Unrealized loss position 12 months or more AFS securities 1,264 356 AFS securities – related party 45 8
Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table summarizes the activity in the allowance for credit losses for AFS securities by asset type: Years ended December 31, 2020 Additions Reductions (In millions) Beginning balance Initial credit losses Initial credit losses on PCD securities Securities sold during the period Additions (reductions) to previously impaired securities Ending Balance AFS securities Corporate $ — $ 44 $ — $ (14) $ (24) $ 6 CLO — 1 — — — 1 ABS — 7 — — (1) 6 CMBS — 24 — (1) (13) 10 RMBS 17 51 66 (17) (37) 80 Total AFS securities 17 127 66 (32) (75) 103 AFS securities – related party, CLO — 2 — (1) — 1 Total AFS securities including related party $ 17 $ 129 $ 66 $ (33) $ (75) $ 104
Net Investment Income	Net investment income by asset class consists of the following: Years ended December 31, (In millions) 2020 2019 2018 AFS securities $ 3,225 $ 3,088 $ 2,855 Trading securities 192 189 200 Equity securities 14 16 12 Mortgage loans 742 670 457 Investment funds 721 382 287 Funds withheld at interest 269 527 492 Other 226 159 112 Investment revenue 5,389 5,031 4,415 Investment expenses (504) (435) (355) Net investment income $ 4,885 $ 4,596 $ 4,060
Investment Related Gains (Losses)	Investment related gains (losses) by asset class consists of the following: Years ended December 31, (In millions) 2020 2019 2018 AFS securities Gross realized gains on investment activity $ 602 $ 178 $ 165 Gross realized losses on investment activity (415) (56) (151) Net realized investment gains on AFS securities 187 122 14 Net recognized investment gains (losses) on trading securities 33 151 (254) Net recognized investment gains (losses) on equity securities (218) 25 (65) Derivative gains (losses) 3,430 4,443 (1,099) Provision for credit losses (69) — — Other gains (losses) (54) (22) 44 Investment related gains (losses) $ 3,309 $ 4,719 $ (1,360)
Unrealized Gain (Loss) on Investments	The following table summarizes the change in unrealized gains (losses) on trading and equity securities, including related party and consolidated VIEs, we held as of the respective year end: Years ended December 31, (In millions) 2020 2019 2018 Trading securities $ 130 $ 193 $ (143) Trading securities – related party (37) (18) (25) Equity securities (9) 19 (18) Equity securities – related party — (18) 24
Certain Loans and Debt Securities Acquired in Transfer Disclosure	The following table summarizes our PCD investment purchases with the following amounts at the time of purchase: Year ended December 31, 2020 (In millions) Fixed maturity securities Mortgage loans Purchase price $ 254 $ 524 Allowance for credit losses at acquisition 66 7 Discount (premiums) attributable to other factors 36 (13) Par value $ 356 $ 518
Investments Purchased with Credit Deterioration		The following table summarizes our PCI investments as of December 31, 2019: (In millions) Fixed maturity securities Mortgage loans Contractually required payments receivable $ 6,772 $ 3,647 Less: Cash flows expected to be collected 1 (6,064) (3,606) Non-accretable difference $ 708 $ 41 Cash flows expected to be collected 1 $ 6,064 $ 3,606 Less: Amortized cost (4,603) (2,575) Accretable difference $ 1,461 $ 1,031 Fair value $ 5,007 $ 2,756 Outstanding balance 5,740 2,925 1 Represents the undiscounted principal and interest cash flows expected.
Investments Purchased with Credit Impairment during the Period		During the year ended December 31, 2019, we acquired PCI investments with the following amounts at the time of purchase: (In millions) Fixed maturity securities Mortgage loans Contractually required payments receivable $ 176 $ 1,198 Cash flows expected to be collected 146 1,179 Fair value 124 910
Investments Purchased with Credit Impairment, Accretable Yield Activity		The following table summarizes the activity for the accretable yield on PCI investments during 2019: (In millions) Fixed maturity securities Mortgage loans Beginning balance at January 1, 2019 $ 1,677 $ 697 Purchases of PCI investments, net of sales 1 191 Accretion (307) (115) Net reclassification from non-accretable difference 90 258 Ending balance at December 31, 2019 $ 1,461 $ 1,031
Schedule of Repurchase Agreements	Repurchase Agreements —The following table summarizes the maturities of our repurchase agreements: December 31, 2020 Remaining Contractual Maturity (In millions) Overnight and continuous Less than 30 days 30–90 days 91 days to 1 year Greater than 1 year Total Payables for repurchase agreements 1 $ — $ — $ — $ — $ 598 $ 598 1 Included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. December 31, 2019 Remaining Contractual Maturity (In millions) Overnight and continuous Less than 30 days 30–90 days 91 days to 1 year Greater than 1 year Total Payables for repurchase agreements 1 $ — $ 102 $ 200 $ 210 $ — $ 512 1 Included in payables for collateral on derivatives and securities to repurchase on the consolidated balance sheets. The following table summarizes the securities pledged as collateral for repurchase agreements: December 31, 2020 2019 (In millions) Amortized Cost Fair Value Amortized Cost Fair Value AFS securities – Corporate $ 559 $ 644 $ 498 $ 534
Mortgage Loans, Net	Mortgage loans, net of allowances, consists of the following: December 31, (In millions) 2020 2019 Commercial mortgage loans $ 11,383 $ 10,422 Commercial mortgage loans under development 232 93 Total commercial mortgage loans 11,615 10,515 Allowance for credit losses on commercial mortgage loans (167) (10) Commercial mortgage loans, net of allowances 11,448 10,505 Residential mortgage loans 4,569 4,455 Allowance for credit losses on residential mortgage loans (79) (1) Residential mortgage loans, net of allowances 4,490 4,454 Mortgage loans, net of allowances $ 15,938 $ 14,959 The distribution of commercial mortgage loans, including those under development, net of allowances, by property type and geographic region, is as follows: December 31, 2020 2019 (In millions, except for percentages) Net Carrying Value Percentage of Total Net Carrying Value Percentage of Total Property type Office building $ 3,589 31.4 % $ 2,899 27.6 % Retail 2,083 18.2 % 2,182 20.8 % Apartment 2,441 21.3 % 2,142 20.4 % Hotels 1,294 11.3 % 1,104 10.5 % Industrial 1,362 11.9 % 1,448 13.8 % Other commercial 679 5.9 % 730 6.9 % Total commercial mortgage loans $ 11,448 100.0 % $ 10,505 100.0 % US Region East North Central $ 1,209 10.5 % $ 1,036 9.9 % East South Central 402 3.5 % 428 4.1 % Middle Atlantic 3,069 26.8 % 2,580 24.6 % Mountain 487 4.2 % 528 5.0 % New England 350 3.1 % 340 3.2 % Pacific 2,746 24.0 % 2,502 23.8 % South Atlantic 1,773 15.5 % 1,920 18.3 % West North Central 145 1.3 % 146 1.4 % West South Central 640 5.6 % 791 7.5 % Total US Region 10,821 94.5 % 10,271 97.8 % International Region 627 5.5 % 234 2.2 % Total commercial mortgage loans $ 11,448 100.0 % $ 10,505 100.0 % Our residential mortgage loan portfolio includes first lien residential mortgage loans collateralized by properties in various geographic locations and is summarized by proportion of the portfolio in the following table: December 31, 2020 2019 US States California 24.8 % 27.0 % Florida 13.3 % 12.7 % Texas 4.4 % 6.2 % New York 6.2 % 3.3 % Other 1 36.7 % 38.4 % Total US residential mortgage loan percentage 85.4 % 87.6 % International Ireland 12.9 % 12.4 % Other 2 1.7 % — % Total International residential mortgage loan percentage 14.6 % 12.4 % Total residential mortgage loan percentage 100.0 % 100.0 % 1 Represents all other states, with each individual state comprising less than 5% of the portfolio. 2 Represents all other countries, with each individual country comprising less than 5% of the portfolio.
Financing Receivable, Allowance for Credit Loss	The allowances for our mortgage loan portfolio and other loans is summarized as follows: December 31, 2020 (In millions) Commercial Mortgage Residential Mortgage Other Investments Total Beginning balance $ 10 $ 1 $ — $ 11 Adoption of accounting standard 167 43 11 221 Provision (reversal) for expected credit losses (10) 29 (4) 15 Initial credit losses on PCD loans — 7 — 7 Loans charged-off — (1) — (1) Ending balance $ 167 $ 79 $ 7 $ 253
Financing Receivable, Past Due	The following represents our residential loan portfolio by origination year and performance status: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Current (less than 30 days past due) $ 955 $ 942 $ 1,730 $ 485 $ 141 $ 6 $ 4,259 30 to 59 days past due 68 16 34 26 8 1 153 60 to 89 days past due 15 7 16 9 3 — 50 90 days or more past due 3 26 22 43 12 1 107 Total residential mortgages $ 1,041 $ 991 $ 1,802 $ 563 $ 164 $ 8 $ 4,569 Commercial mortgage loans – The following represents our commercial mortgage loan portfolio by origination year and loan performance status: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Current (less than 30 days past due) $ 1,913 $ 4,400 $ 2,617 $ 987 $ 130 $ 1,452 $ 11,499 30 to 59 days past due — 20 45 25 — 5 95 90 days or more past due — — — — — 21 21 Total commercial mortgages $ 1,913 $ 4,420 $ 2,662 $ 1,012 $ 130 $ 1,478 $ 11,615
Financing Receivable, Nonaccrual	The following represents our residential loan portfolio in non-accrual status: (In millions) December 31, 2020 Beginning amortized cost of residential mortgage loans in non-accrual status $ 67 Ending amortized cost of residential mortgage loans in non-accrual status 107 Amortized cost of residential mortgage loans in non-accrual status without a related allowance for credit losses 13 The following represents our commercial mortgage loan portfolio in non-accrual status: (In millions) December 31, 2020 Beginning amortized cost of commercial mortgage loans in non-accrual status $ — Ending amortized cost of commercial mortgage loans in non-accrual status 38 Amortized cost of commercial mortgage loans in non-accrual status without a related allowance for credit losses —
Credit Quality Indicators of the Commercial Mortgage Portfolio	The following represents the loan-to-value ratio of the commercial mortgage loan portfolio, excluding those under development, by origination year: December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Less than 50% $ 431 $ 600 $ 201 $ 152 $ 44 $ 1,153 $ 2,581 50% to 59% 315 1,320 765 300 40 147 2,887 60% to 69% 583 1,988 1,222 440 46 106 4,385 70% to 79% 478 485 375 95 — 13 1,446 80% to 99% — — — 25 — 21 46 100% or greater — — — — — 38 38 Commercial mortgage loans $ 1,807 $ 4,393 $ 2,563 $ 1,012 $ 130 $ 1,478 $ 11,383 The following represents the loan-to-value ratio of the commercial mortgage loan portfolio, excluding those under development, net of valuation allowances: (In millions) December 31, 2019 Less than 50% $ 2,640 50% to 59% 2,486 60% to 69% 4,093 70% to 79% 1,162 80% to 99% 31 Commercial mortgage loans $ 10,412 December 31, 2020 (In millions) 2020 2019 2018 2017 2016 Prior Total Greater than 1.20x $ 1,274 $ 2,964 $ 2,440 $ 846 $ 129 $ 1,369 $ 9,022 1.00x – 1.20x 533 1,122 36 70 1 101 1,863 Less than 1.00x — 307 87 96 — 8 498 Commercial mortgage loans $ 1,807 $ 4,393 $ 2,563 $ 1,012 $ 130 $ 1,478 $ 11,383 The following represents the debt service coverage ratio of the commercial mortgage loan portfolio, excluding those under development, net of valuation allowances: (In millions) December 31, 2019 Greater than 1.20x $ 9,212 1.00x – 1.20x 1,166 Less than 1.00x 34 Commercial mortgage loans $ 10,412
Summary of Investment Funds	The following summarizes our investment funds, including related party: December 31, 2020 2019 (In millions, except for percentages) Carrying value Percent of total Carrying value Percent of total Investment funds Real estate $ 348 43.3 % $ 277 36.9 % Credit funds 107 13.3 % 153 20.4 % Private equity 267 33.3 % 236 31.5 % Real assets 81 10.1 % 83 11.1 % Natural resources — — % 1 0.1 % Total investment funds 803 100.0 % 750 100.0 % Investment funds – related parties Differentiated investments MidCap FinCo Designated Activity Company (MidCap) 1 — — % 547 15.4 % AmeriHome Mortgage Company, LLC (AmeriHome) 2 444 8.4 % 487 13.7 % Catalina Holdings Ltd. (Catalina) 334 6.3 % 271 7.6 % Athora Holding Ltd. (Athora) 1 709 13.4 % 132 3.7 % Venerable Holdings, Inc. (Venerable) 1 123 2.3 % 99 2.8 % Other 279 5.3 % 222 6.3 % Total differentiated investments 1,889 35.7 % 1,758 49.5 % Real estate 828 15.7 % 853 24.0 % Credit funds 375 7.1 % 370 10.4 % Private equity 473 8.9 % 105 3.0 % Real assets 172 3.3 % 182 5.1 % Natural resources 113 2.1 % 163 4.6 % Public equities 110 2.1 % 119 3.4 % Investment in Apollo 1 1,324 25.1 % — — % Total investment funds – related parties 5,284 100.0 % 3,550 100.0 % Total investment funds including related party $ 6,087 $ 4,300 1 See further discussion on MidCap, Athora, Venerable and our investment in Apollo in Note 14 – Related Parties. 2 Our AmeriHome investment is held indirectly through A-A Mortgage Opportunities, L.P. (A-A Mortgage). See further discussion on A-A Mortgage and AmeriHome in Note 14 – Related Parties. December 31, (In millions) 2020 2019 Assets $ 130,807 $ 50,563 Liabilities 109,654 31,821 Equity 21,153 18,742 Years ended December 31, (In millions) 2020 2019 2018 Net income $ 2,196 $ 817 $ 1,159 The following table presents the carrying value by ownership percentage of equity method investment funds, including related party investment funds: December 31, (In millions) 2020 2019 Ownership Percentage 100% $ 717 $ 11 50% – 99% 678 1,378 3% – 49% 2,412 1,938 Equity method investment funds $ 3,807 $ 3,327 The following table presents the carrying value by ownership percentage of investment funds held at fair value, either due to election of the fair value option or requirement, including related party investment funds: December 31, (In millions) 2020 2019 Ownership Percentage 50% – 99% $ 28 $ 28 3% – 49% 2,109 772 Less than 3% 143 173 Fair value investment funds $ 2,280 $ 973
Schedule of Variable Interest Entities	The following summarizes the carrying value and maximum loss exposure of these non-consolidated investments: December 31, 2020 2019 (In millions) Carrying Value Maximum Loss Exposure Carrying Value Maximum Loss Exposure Investment funds $ 803 $ 1,265 $ 750 $ 1,265 Investment in related parties – investment funds 5,284 7,989 3,550 5,955 Investment in fixed maturity securities 23,325 23,027 22,694 22,170 Investment in related parties – fixed maturity securities 7,834 8,126 4,570 4,878 Investment in related parties – equity securities 72 72 58 58 Total non-consolidated investments $ 37,318 $ 40,479 $ 31,622 $ 34,326

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount and Fair Value of Derivative Instruments	The following table presents the notional amount and fair value of derivative instruments: December 31, 2020 2019 Notional Amount Fair Value Notional Amount Fair Value (In millions) Assets Liabilities Assets Liabilities Derivatives designated as hedges Foreign currency swaps 4,417 $ 134 $ 181 3,158 $ 113 $ 56 Foreign currency forwards 2,038 3 9 717 1 9 Foreign currency forwards on net investments 173 — 2 139 — 2 Total derivatives designated as hedges 137 192 114 67 Derivatives not designated as hedges Equity options 53,666 3,209 22 49,549 2,746 5 Futures 24 58 2 8 10 1 Total return swaps 97 6 — 106 6 — Foreign currency swaps 1,510 96 — 35 2 1 Interest rate swaps 803 — 34 776 3 4 Credit default swaps 10 — 4 10 — 3 Foreign currency forwards 3,595 17 44 1,924 7 16 Embedded derivatives Funds withheld including related party 2,806 59 1,395 31 Interest sensitive contract liabilities — 12,873 — 10,942 Total derivatives not designated as hedges 6,192 13,038 4,169 11,003 Total derivatives $ 6,329 $ 13,230 $ 4,283 $ 11,070
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following represents the carrying amount and the cumulative fair value hedging adjustments included in the hedged assets or liabilities: December 31, 2020 (In millions) Carrying amount of the hedged assets or liabilities Cumulative amount of fair value hedging gains (losses) AFS securities $ 1,932 $ 117 Interest sensitive contract liabilities 65 (1) The following is a summary of the gains (losses) related to the derivatives and related hedged items in fair value hedge relationships: (In millions) Derivatives Hedged Items Amount Excluded Net Year ended December 31, 2020 Investment related gains (losses) $ (118) $ 116 $ — $ (2) Interest sensitive contract liabilities 1 (1) — — Year ended December 31, 2019 Investment related gains (losses) 2 — — 2 Year ended December 31, 2018 Investment related gains (losses) (1) 1 — —
Gains (Losses) Related to Derivatives Not Designated as Hedges	The following is a summary of the gains (losses) related to derivatives not designated as hedges: Years ended December 31, (In millions) 2020 2019 2018 Equity options $ 819 $ 2,169 $ (877) Futures 123 (13) 2 Swaps 82 43 (8) Foreign currency forwards (127) (2) 16 Embedded derivatives on funds withheld 2,651 2,246 (232) Amounts recognized in investment related gains (losses) 3,548 4,443 (1,099) Embedded derivatives in indexed annuity products 1 (1,384) (2,526) 923 Total gains (losses) on derivatives not designated as hedges $ 2,164 $ 1,917 $ (176) 1 Included in interest sensitive contract benefits on the consolidated statements of income.
Estimated Fair Value of Net Derivative and Other Financial Assets	The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral received/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral December 31, 2020 Derivative assets $ 3,523 $ (165) $ (3,196) $ 162 $ (46) $ 116 Derivative liabilities (298) 165 144 11 — 11 December 31, 2019 Derivative assets $ 2,888 $ (67) $ (2,743) $ 78 $ (145) $ (67) Derivative liabilities (97) 67 31 1 — 1 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2020 and 2019, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received.
Estimated Fair Value of Net Derivative and Other Financial Liabilities	The estimated fair value of our net derivative and other financial assets and liabilities after the application of master netting agreements and collateral were as follows: Gross amounts not offset on the consolidated balance sheets (In millions) Gross amount recognized 1 Financial instruments 2 Collateral received/pledged Net amount Off-balance sheet securities collateral 3 Net amount after securities collateral December 31, 2020 Derivative assets $ 3,523 $ (165) $ (3,196) $ 162 $ (46) $ 116 Derivative liabilities (298) 165 144 11 — 11 December 31, 2019 Derivative assets $ 2,888 $ (67) $ (2,743) $ 78 $ (145) $ (67) Derivative liabilities (97) 67 31 1 — 1 1 The gross amounts of recognized derivative assets and derivative liabilities are reported on the consolidated balance sheets. As of December 31, 2020 and 2019, amounts not subject to master netting or similar agreements were immaterial. 2 Represents amounts offsetting derivative assets and derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are not netted against the gross derivative assets or gross derivative liabilities for presentation on the consolidated balance sheets. 3 For non-cash collateral received, we do not recognize the collateral on our balance sheet unless the obligor (transferor) has defaulted under the terms of the secured contract and is no longer entitled to redeem the pledged asset. Amounts do not include any excess of collateral pledged or received. December 31, (In millions) 2020 2019 Fair value of derivative liabilities with credit related provisions $ 4 $ 3 Maximum exposure for credit default swaps 10 10

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The following represents the hierarchy for our assets and liabilities measured at fair value on a recurring basis: December 31, 2020 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 351 $ — $ 332 $ 19 $ — US state, municipal and political subdivisions 1,033 — — 999 34 Foreign governments 368 — — 366 2 Corporate 58,180 — — 57,402 778 CLO 9,569 — — 9,361 208 ABS 4,270 — — 3,470 800 CMBS 2,169 — — 2,126 43 RMBS 6,913 — — 6,913 — Total AFS securities 82,853 — 332 80,656 1,865 Trading securities US government and agencies 6 — 3 3 — US state, municipal and political subdivisions 106 — — 106 — Corporate 1,577 — — 1,577 — CLO 4 — — — 4 ABS 128 — — 93 35 CMBS 52 — — 52 — RMBS 220 — — 173 47 Total trading securities 2,093 — 3 2,004 86 Equity securities 330 — 57 262 11 Mortgage loans 19 — — — 19 Investment funds 161 144 — — 17 Funds withheld at interest – embedded derivative 1,944 — — — 1,944 Derivative assets 3,523 — 58 3,465 — Short-term investments 222 — 146 74 2 Other investments 105 — — 105 — Cash and cash equivalents 7,704 — 7,704 — — Restricted cash 738 — 738 — — Investments in related parties AFS securities Corporate 215 — — 20 195 CLO 1,520 — — 1,520 — ABS 4,785 — — 676 4,109 Total AFS securities – related party 6,520 — — 2,216 4,304 Trading securities CLO 54 — — 4 50 ABS 1,475 — — — 1,475 Total trading securities – related party 1,529 — — 4 1,525 Equity securities 72 — — — 72 Investment funds 2,119 86 — — 2,033 Funds withheld at interest – embedded derivative 862 — — — 862 Reinsurance recoverable 2,100 — — — 2,100 Total assets measured at fair value $ 112,894 $ 230 $ 9,038 $ 88,786 $ 14,840 (Continued) December 31, 2020 (In millions) Total NAV Level 1 Level 2 Level 3 Liabilities Interest sensitive contract liabilities Embedded derivative $ 12,873 $ — $ — $ — $ 12,873 Universal life benefits 1,308 — — — 1,308 Future policy benefits AmerUs Closed Block 1,600 — — — 1,600 ILICO Closed Block and life benefits 776 — — — 776 Derivative liabilities 298 — 2 292 4 Funds withheld liability – embedded derivative 59 — — 59 — Total liabilities measured at fair value $ 16,914 $ — $ 2 $ 351 $ 16,561 (Concluded) December 31, 2019 (In millions) Total NAV Level 1 Level 2 Level 3 Assets AFS securities US government and agencies $ 36 $ — $ 36 $ — $ — US state, municipal and political subdivisions 1,541 — — 1,501 40 Foreign governments 327 — — 327 — Corporate 47,228 — — 46,503 725 CLO 7,349 — — 7,228 121 ABS 5,118 — — 3,744 1,374 CMBS 2,400 — — 2,354 46 RMBS 7,375 — — 7,375 — Total AFS securities 71,374 — 36 69,032 2,306 Trading securities US government and agencies 11 — 8 3 — US state, municipal and political subdivisions 135 — — 135 — Corporate 1,456 — — 1,456 — CLO 6 — — — 6 ABS 108 — — 92 16 CMBS 51 — — 51 — RMBS 303 — — 251 52 Total trading securities 2,070 — 8 1,988 74 Equity securities 247 — 43 201 3 Mortgage loans 27 — — — 27 Investment funds 154 132 — — 22 Funds withheld at interest – embedded derivative 801 — — — 801 Derivative assets 2,888 — 10 2,878 — Short-term investments 406 — 46 319 41 Other investments 93 — — 93 — Cash and cash equivalents 4,240 — 4,240 — — Restricted cash 402 — 402 — — (Continued) December 31, 2019 (In millions) Total NAV Level 1 Level 2 Level 3 Investments in related parties AFS securities Corporate 19 — — 19 — CLO 936 — — 936 — ABS 2,849 — — 525 2,324 Total AFS securities – related party 3,804 — — 1,480 2,324 Trading securities CLO 74 — — 36 38 ABS 711 — — — 711 Total trading securities – related party 785 — — 36 749 Equity securities 64 — — — 64 Investment funds 819 687 — — 132 Funds withheld at interest – embedded derivative 594 — — — 594 Reinsurance recoverable 1,821 — — — 1,821 Total assets measured at fair value $ 90,589 $ 819 $ 4,785 $ 76,027 $ 8,958 Liabilities Interest sensitive contract liabilities Embedded derivative $ 10,942 $ — $ — $ — $ 10,942 Universal life benefits 1,050 — — — 1,050 Future policy benefits AmerUs Closed Block 1,546 — — — 1,546 ILICO Closed Block and life benefits 755 — — — 755 Derivative liabilities 97 — 1 93 3 Funds withheld liability – embedded derivative 31 — — 31 — Total liabilities measured at fair value $ 14,421 $ — $ 1 $ 124 $ 14,296 (Concluded)
Summary of Fair Value Option	The following represents the gains (losses) recorded for instruments for which we have elected the fair value option, including related parties: Years ended December 31, (In millions) 2020 2019 2018 Trading securities $ 33 $ 151 $ (254) Investment funds 295 (3) 37 Future policy benefits (54) (103) 182 Total gains (losses) $ 274 $ 45 $ (35) The following summarizes information for fair value option mortgage loans: December 31, (In millions) 2020 2019 Unpaid principal balance $ 17 $ 25 Mark to fair value 2 2 Fair value $ 19 $ 27
Reconciliation of Level 3 Assets Measured on a Recurring Basis	The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis: Year ended December 31, 2020 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities US state, municipal and political subdivisions $ 40 $ — $ — $ (6) $ — $ 34 $ — $ — Foreign governments — — — 2 — 2 — — Corporate 725 10 5 10 28 778 — 5 CLO 121 — — 109 (22) 208 — — ABS 1,374 20 (48) (282) (264) 800 — (47) CMBS 46 (4) (5) (5) 11 43 — (4) Trading securities CLO 6 (2) — — — 4 — — ABS 16 — — 19 — 35 — — RMBS 52 (9) — — 4 47 2 — Equity securities 3 3 — 5 — 11 3 — Mortgage loans 27 — — (8) — 19 — — Investment funds 22 (5) — — — 17 (5) — Funds withheld at interest – embedded derivative 801 1,143 — — — 1,944 — — Short-term investments 41 — — (39) — 2 — — Investments in related parties AFS securities Corporate — — — 195 — 195 — — ABS 2,324 24 37 1,889 (165) 4,109 — 37 Trading securities CLO 38 (13) — 14 11 50 (9) — ABS 711 (13) — 777 — 1,475 (14) — Equity securities 64 1 — 12 (5) 72 1 — Investment funds 132 298 — 1,603 — 2,033 122 — Funds withheld at interest – embedded derivative 594 268 — — — 862 — — Reinsurance recoverable 1,821 279 — — — 2,100 — — Total Level 3 assets $ 8,958 $ 2,000 $ (11) $ 4,295 $ (402) $ 14,840 $ 100 $ (9) Liabilities Interest sensitive contract liabilities Embedded derivative $ (10,942) $ (1,384) $ — $ (547) $ — $ (12,873) $ — $ — Universal life benefits (1,050) (258) — — — (1,308) — — Future policy benefits AmerUs Closed Block (1,546) (54) — — — (1,600) — — ILICO Closed Block and life benefits (755) (21) — — — (776) — — Derivative liabilities (3) (1) — — — (4) (1) — Total Level 3 liabilities $ (14,296) $ (1,718) $ — $ (547) $ — $ (16,561) $ (1) $ — 1 Related to instruments held at end of period. Year ended December 31, 2019 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Assets AFS securities US state, municipal and political subdivisions $ — $ — $ — $ 40 $ — $ 40 $ — Corporate 898 14 12 (61) (138) 725 — CLO 107 — 3 50 (39) 121 — ABS 1,615 7 32 120 (400) 1,374 — CMBS 187 2 7 (131) (19) 46 — RMBS 56 2 2 (13) (47) — — Trading securities CLO 1 — — — 5 6 6 ABS — — — (9) 25 16 — RMBS 134 (21) — 10 (71) 52 1 Equity securities 3 — — — — 3 — Mortgage loans 32 — — (5) — 27 — Investment funds 29 (3) — (4) — 22 (3) Funds withheld at interest – embedded derivative 57 744 — — — 801 — Short-term investments — — — 41 — 41 — Investments in related parties AFS securities, ABS 328 2 22 2,076 (104) 2,324 — Trading securities CLO 113 (7) — (49) (19) 38 3 ABS 149 (14) — 473 103 711 (6) Equity securities 133 (2) — (67) — 64 (1) Investment funds 120 7 — 19 (14) 132 7 Funds withheld at interest – embedded derivative (110) 704 — — — 594 — Reinsurance recoverable 1,676 145 — — — 1,821 — Total Level 3 assets $ 5,528 $ 1,580 $ 78 $ 2,490 $ (718) $ 8,958 $ 7 Liabilities Interest sensitive contract liabilities Embedded derivative $ (7,969) $ (2,526) $ — $ (447) $ — $ (10,942) $ — Universal life benefits (932) (118) — — — (1,050) — Future policy benefits AmerUs Closed Block (1,443) (103) — — — (1,546) — ILICO Closed Block and life benefits (730) (25) — — — (755) — Derivative liabilities (4) 1 — — — (3) 1 Total Level 3 liabilities $ (11,078) $ (2,771) $ — $ (447) $ — $ (14,296) $ 1 1 Related to instruments held at end of period.
Reconciliation of Level 3 Liabilities Measured on a Recurring Basis	The following are reconciliations for Level 3 assets and liabilities measured at fair value on a recurring basis: Year ended December 31, 2020 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Total gains (losses) included in OCI 1 Assets AFS securities US state, municipal and political subdivisions $ 40 $ — $ — $ (6) $ — $ 34 $ — $ — Foreign governments — — — 2 — 2 — — Corporate 725 10 5 10 28 778 — 5 CLO 121 — — 109 (22) 208 — — ABS 1,374 20 (48) (282) (264) 800 — (47) CMBS 46 (4) (5) (5) 11 43 — (4) Trading securities CLO 6 (2) — — — 4 — — ABS 16 — — 19 — 35 — — RMBS 52 (9) — — 4 47 2 — Equity securities 3 3 — 5 — 11 3 — Mortgage loans 27 — — (8) — 19 — — Investment funds 22 (5) — — — 17 (5) — Funds withheld at interest – embedded derivative 801 1,143 — — — 1,944 — — Short-term investments 41 — — (39) — 2 — — Investments in related parties AFS securities Corporate — — — 195 — 195 — — ABS 2,324 24 37 1,889 (165) 4,109 — 37 Trading securities CLO 38 (13) — 14 11 50 (9) — ABS 711 (13) — 777 — 1,475 (14) — Equity securities 64 1 — 12 (5) 72 1 — Investment funds 132 298 — 1,603 — 2,033 122 — Funds withheld at interest – embedded derivative 594 268 — — — 862 — — Reinsurance recoverable 1,821 279 — — — 2,100 — — Total Level 3 assets $ 8,958 $ 2,000 $ (11) $ 4,295 $ (402) $ 14,840 $ 100 $ (9) Liabilities Interest sensitive contract liabilities Embedded derivative $ (10,942) $ (1,384) $ — $ (547) $ — $ (12,873) $ — $ — Universal life benefits (1,050) (258) — — — (1,308) — — Future policy benefits AmerUs Closed Block (1,546) (54) — — — (1,600) — — ILICO Closed Block and life benefits (755) (21) — — — (776) — — Derivative liabilities (3) (1) — — — (4) (1) — Total Level 3 liabilities $ (14,296) $ (1,718) $ — $ (547) $ — $ (16,561) $ (1) $ — 1 Related to instruments held at end of period. Year ended December 31, 2019 Total realized and unrealized gains (losses) (In millions) Beginning balance Included in income Included in OCI Net purchases, issuances, sales and settlements Net transfers in (out) Ending balance Total gains (losses) included in earnings 1 Assets AFS securities US state, municipal and political subdivisions $ — $ — $ — $ 40 $ — $ 40 $ — Corporate 898 14 12 (61) (138) 725 — CLO 107 — 3 50 (39) 121 — ABS 1,615 7 32 120 (400) 1,374 — CMBS 187 2 7 (131) (19) 46 — RMBS 56 2 2 (13) (47) — — Trading securities CLO 1 — — — 5 6 6 ABS — — — (9) 25 16 — RMBS 134 (21) — 10 (71) 52 1 Equity securities 3 — — — — 3 — Mortgage loans 32 — — (5) — 27 — Investment funds 29 (3) — (4) — 22 (3) Funds withheld at interest – embedded derivative 57 744 — — — 801 — Short-term investments — — — 41 — 41 — Investments in related parties AFS securities, ABS 328 2 22 2,076 (104) 2,324 — Trading securities CLO 113 (7) — (49) (19) 38 3 ABS 149 (14) — 473 103 711 (6) Equity securities 133 (2) — (67) — 64 (1) Investment funds 120 7 — 19 (14) 132 7 Funds withheld at interest – embedded derivative (110) 704 — — — 594 — Reinsurance recoverable 1,676 145 — — — 1,821 — Total Level 3 assets $ 5,528 $ 1,580 $ 78 $ 2,490 $ (718) $ 8,958 $ 7 Liabilities Interest sensitive contract liabilities Embedded derivative $ (7,969) $ (2,526) $ — $ (447) $ — $ (10,942) $ — Universal life benefits (932) (118) — — — (1,050) — Future policy benefits AmerUs Closed Block (1,443) (103) — — — (1,546) — ILICO Closed Block and life benefits (730) (25) — — — (755) — Derivative liabilities (4) 1 — — — (3) 1 Total Level 3 liabilities $ (11,078) $ (2,771) $ — $ (447) $ — $ (14,296) $ 1 1 Related to instruments held at end of period.
Gross Components of Purchases, Sales, Issuances and Settlements, net	Year ended December 31, 2020 (In millions) Purchases Issuances Sales Settlements Net purchases, issuances, sales and settlements Transfers in Transfers out Net transfers in (out) Assets AFS securities US state, municipal and political subdivisions $ — $ — $ (5) $ (1) $ (6) $ — $ — $ — Foreign governments 2 — — — 2 — — — Corporate 177 — — (167) 10 69 (41) 28 CLO 145 — (8) (28) 109 — (22) (22) ABS 128 — — (410) (282) 7 (271) (264) CMBS — — (4) (1) (5) 11 — 11 Trading securities ABS 35 — (16) — 19 — — — RMBS — — — — — 5 (1) 4 Equity securities 11 — — (6) 5 — — — Mortgage loans — — — (8) (8) — — — Short-term investments 3 — (7) (35) (39) — — — Investments in related parties AFS securities Corporate 195 — — — 195 — — — ABS 2,156 — (5) (262) 1,889 — (165) (165) Trading securities CLO 27 — (13) — 14 15 (4) 11 ABS 802 — (11) (14) 777 — — — Equity securities 18 — (1) (5) 12 — (5) (5) Investment funds 1,678 — (75) — 1,603 — — — Total Level 3 assets $ 5,377 $ — $ (145) $ (937) $ 4,295 $ 107 $ (509) $ (402) Liabilities Interest sensitive contract liabilities – embedded derivative $ — $ (1,188) $ — $ 641 $ (547) $ — $ — $ — Total Level 3 liabilities $ — $ (1,188) $ — $ 641 $ (547) $ — $ — $ —
Summary of the Unobservable Inputs for the Embedded Derivative of Fixed Indexed Annuities	The following summarizes the unobservable inputs for AFS and trading securities and the embedded derivatives of fixed indexed annuities: December 31, 2020 (In millions, except for percentages) Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS and trading securities $ 5,858 Discounted cash flow Discount 1.7 % 35.0 % 4.6 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives $ 12,873 Option budget method Nonperformance risk 0.0 % 1.1 % 0.5 % 2 Decrease Option budget 0.6 % 3.5 % 1.9 % 3 Increase Surrender rate 5.3 % 9.5 % 7.1 % 4 Decrease December 31, 2019 Fair value Valuation technique Unobservable inputs Minimum Maximum Weighted average Impact of an increase in the input on fair value AFS and trading securities $ 1,289 Discounted cash flow Discount 3.0 % 9.0 % 6.6 % 1 Decrease Interest sensitive contract liabilities – fixed indexed annuities embedded derivatives $ 10,942 Option budget method Nonperformance risk 0.2 % 1.1 % 0.6 % 2 Decrease Option budget 0.7 % 3.7 % 1.9 % 3 Increase Surrender rate 3.5 % 8.1 % 7.1 % 4 Decrease 1 The discount weighted average is calculated based on the relative fair values of the securities. 2 The nonperformance risk weighted average is based on the projected excess benefits of reserves used in the calculation of the embedded derivative. 3 The option budget weighted average is calculated based on the indexed account values. 4 The surrender rate weighted average is calculated based on projected account values.
Summary of Financial Instruments Not Carried at Fair Value on the Balance Sheet	The following represents our financial instruments not carried at fair value on the consolidated balance sheets: December 31, 2020 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Mortgage loans $ 15,245 $ 15,811 $ — $ — $ — $ 15,811 Investment funds 642 642 642 — — — Policy loans 369 369 — — 369 — Funds withheld at interest 46,668 46,668 — — — 46,668 Other investments 467 471 — — — 471 Investments in related parties Mortgage loans 674 694 — — — 694 Investment funds 3,165 3,165 3,165 — — — Funds withheld at interest 12,168 12,168 — — — 12,168 Other investments 469 499 — — — 499 Total financial assets not carried at fair value $ 79,867 $ 80,487 $ 3,807 $ — $ 369 $ 76,311 Financial liabilities Interest sensitive contract liabilities $ 94,685 $ 98,945 $ — $ — $ — $ 98,945 Long-term debt 1,976 2,259 — — 2,259 — Securities to repurchase 598 598 — — 598 — Funds withheld liability 393 393 — — 393 — Total financial liabilities not carried at fair value $ 97,652 $ 102,195 $ — $ — $ 3,250 $ 98,945 December 31, 2019 (In millions) Carrying Value Fair Value NAV Level 1 Level 2 Level 3 Financial assets Mortgage loans $ 14,279 $ 14,719 $ — $ — $ — $ 14,719 Investment funds 596 596 596 — — — Policy loans 417 417 — — 417 — Funds withheld at interest 14,380 14,380 — — — 14,380 Short-term investments 190 190 — — — 190 Other investments 65 65 — — — 65 Investments in related parties Mortgage loans 653 641 — — — 641 Investment funds 2,731 2,731 2,731 — — — Funds withheld at interest 12,626 12,626 — — — 12,626 Other investments 487 537 — — — 537 Total financial assets not carried at fair value $ 46,424 $ 46,902 $ 3,327 $ — $ 417 $ 43,158 Financial liabilities Interest sensitive contract liabilities $ 57,272 $ 58,027 $ — $ — $ — $ 58,027 Short-term debt 475 475 — — 475 — Long-term debt 992 1,036 — — 1,036 — Securities to repurchase 512 512 — — 512 — Funds withheld liability 377 377 — — 377 — Total financial liabilities not carried at fair value $ 59,628 $ 60,427 $ — $ — $ 2,400 $ 58,027
Equity Securities without Readily Determinable Fair Value	Financial Instruments Without Readily Determinable Fair Values —We have elected the measurement alternative for certain equity securities that do not have a readily determinable fair value. The equity securities are held at cost less any impairment. The carrying amount of the equity securities was $202 million, with an impairment of $231 million as of December 31, 2020. In connection with preparing our annual financial statements and as a result of adverse changes in the market, economic indicators, and a deterioration of the earnings performance of the investee, we recorded an impairment of $231 million in the fourth quarter of 2020.

Reinsurance (Tables)

Reinsurance (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Effects of Reinsurance	The following summarizes the effect of reinsurance on premiums and future policy and other policy benefits on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Premiums Direct $ 5,691 $ 5,449 $ 2,813 Reinsurance assumed 413 1,092 1,066 Reinsurance ceded (141) (159) (417) Total premiums $ 5,963 $ 6,382 $ 3,462 Future policy and other policy benefits Direct $ 7,016 $ 6,697 $ 3,739 Reinsurance assumed 522 1,223 1,093 Reinsurance ceded (351) (333) (551) Total future policy and other policy benefits $ 7,187 $ 7,587 $ 4,281 Years ended December 31, (In millions) 2020 2019 2018 Liabilities assumed $ 27,439 $ 791 $ 27,238 Less: Assets received 28,805 818 26,255 Ceding commission paid — — (660) Net cost of reinsurance $ (1,366) $ (27) $ 1,643 DAC $ — $ — $ 1,777 Unearned revenue reserve 1 (1,366) — (69) Deferred profit liability 2 — (27) (65) Net cost of reinsurance $ (1,366) $ (27) $ 1,643 1 Included within interest sensitive contract liabilities on the consolidated balance sheets. 2 Included within future policy benefits on the consolidated balance sheets.
Schedule of Novated Balances	The below table summarizes the decreases in amounts on the consolidated balance sheets as a result of the novations. Years ended December 31, (In millions) 2020 2019 Interest sensitive contract liabilities $ 148 $ 407 Future policy benefits 52 305 Funds withheld liability — 347 Investments, excluding policy loans — 320 Policy loans 23 38 Reinsurance recoverable 177 674 Other assets (liabilities), net — 27
Ceded Credit Risk	The following summarizes our reinsurance recoverable from the following: December 31, (In millions) 2020 2019 Global Atlantic $ 3,108 $ 2,981 Protective 1,558 1,605 Other 1 182 277 Reinsurance recoverable $ 4,848 $ 4,863 1 Represents all other reinsurers, with no single reinsurer having a carrying value in excess of 5% of total recoverable.

Deferred Acquisition Costs, D_2

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Deferred Acquisition Costs	The following represents a rollforward of DAC, DSI and VOBA: (In millions) DAC DSI VOBA Total Balance at December 31, 2017 $ 1,375 $ 520 $ 1,077 $ 2,972 Additions 2,481 264 — 2,745 Unlocking 21 7 54 82 Amortization (108) (61) (141) (310) Impact of unrealized investment (gains) losses 152 69 197 418 Balance at December 31, 2018 3,921 799 1,187 5,907 Additions 645 226 — 871 Unlocking (117) (9) (24) (150) Amortization (749) (65) (68) (882) Impact of unrealized investment (gains) losses (426) (131) (181) (738) Balance at December 31, 2019 3,274 820 914 5,008 Adoption of accounting standard 12 5 5 22 Additions 633 178 — 811 Unlocking (36) (13) (11) (60) Amortization (414) (53) (60) (527) Impact of unrealized investment (gains) losses (233) (80) (35) (348) Balance at December 31, 2020 $ 3,236 $ 857 $ 813 $ 4,906 The expected amortization of VOBA for the next five years is as follows: (In millions) Expected Amortization 2021 $ 86 2022 78 2023 73 2024 67 2025 64
Deferred Sales Inducements	The following represents a rollforward of DAC, DSI and VOBA: (In millions) DAC DSI VOBA Total Balance at December 31, 2017 $ 1,375 $ 520 $ 1,077 $ 2,972 Additions 2,481 264 — 2,745 Unlocking 21 7 54 82 Amortization (108) (61) (141) (310) Impact of unrealized investment (gains) losses 152 69 197 418 Balance at December 31, 2018 3,921 799 1,187 5,907 Additions 645 226 — 871 Unlocking (117) (9) (24) (150) Amortization (749) (65) (68) (882) Impact of unrealized investment (gains) losses (426) (131) (181) (738) Balance at December 31, 2019 3,274 820 914 5,008 Adoption of accounting standard 12 5 5 22 Additions 633 178 — 811 Unlocking (36) (13) (11) (60) Amortization (414) (53) (60) (527) Impact of unrealized investment (gains) losses (233) (80) (35) (348) Balance at December 31, 2020 $ 3,236 $ 857 $ 813 $ 4,906 The expected amortization of VOBA for the next five years is as follows: (In millions) Expected Amortization 2021 $ 86 2022 78 2023 73 2024 67 2025 64

Closed Block (Tables)

Closed Block (Tables)	12 Months Ended
	Dec. 31, 2020
Insurance [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information of the AmerUs Closed Block is presented below. December 31, (In millions) 2020 2019 Liabilities Future policy benefits $ 1,600 $ 1,546 Other policy claims and benefits 15 18 Dividends payable to policyholders 84 87 Total liabilities 1,699 1,651 Assets Trading securities 1,431 1,353 Mortgage loans, net of allowances 19 27 Policy loans 124 139 Total investments 1,574 1,519 Cash and cash equivalents 35 30 Accrued investment income 44 44 Reinsurance recoverable 16 19 Other assets 2 9 Total assets 1,671 1,621 Maximum future earnings to be recognized from AmerUs Closed Block $ 28 $ 30
Closed Block Operations, Net Results	The following represents the contribution from AmerUs Closed Block. Years ended December 31, (In millions) 2020 2019 2018 Revenues Premiums $ 48 $ 54 $ 48 Net investment income 71 74 77 Investment related gains (losses) 99 147 (118) Total revenues 218 275 7 Benefits and Expenses Future policy and other policy benefits 177 234 (49) Dividends to policyholders 38 36 36 Total benefits and expenses 215 270 (13) Contribution from AmerUs Closed Block before income taxes 3 5 20 Income tax expense (benefit) 1 (1) — Contribution from AmerUs Closed Block, net of income taxes $ 2 $ 6 $ 20

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following is a summary of our senior notes: Issue date January 12, 2018 April 3, 2020 October 8, 2020 Principal balance (in millions) $ 1,000 $ 500 $ 500 Interest rate 4.125 % 6.150 % 3.500 % Maturity date January 12, 2028 April 3, 2030 January 15, 2031

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Stock by Class [Table Text Block]	The following summarizes the activity on our share repurchase authorizations: Years ended December 31, (In millions) 2020 2019 2018 Beginning balance $ 640 $ 150 $ — Authorizations — 1,317 250 Repurchases (419) (827) (100) Ending balance $ 221 $ 640 $ 150 The table below shows the changes in each class of shares issued and outstanding: Years ended December 31, (In millions) 2020 2019 2018 Class A Beginning balance 143.2 162.4 142.4 Issued shares 36.0 0.7 0.6 Forfeited shares (0.1) (0.1) — Repurchased shares (13.3) (19.8) (2.6) Converted from Class B shares 25.4 — 22.0 Converted from Class M 0.3 — — Ending balance 191.5 143.2 162.4 Class B Beginning balance 25.4 25.4 47.4 Converted to Class A shares (25.4) — (22.0) Ending balance — 25.4 25.4 Class M-1 Beginning balance 3.3 3.4 3.4 Converted to Class A shares (0.2) (0.1) — Converted to warrants (3.1) — — Ending balance — 3.3 3.4 Class M-2 Beginning balance 0.8 0.8 0.9 Converted to Class A shares 0.0 — (0.1) Converted to warrants (0.8) — — Ending balance — 0.8 0.8 Class M-3 Beginning balance 1.0 1.0 1.1 Converted to Class A shares 0.0 — (0.1) Converted to warrants (1.0) — — Ending balance — 1.0 1.0 Class M-4 Beginning balance 4.0 4.1 4.7 Converted to Class A shares (0.1) (0.1) (0.5) Converted to warrants (3.6) — — Repurchased shares (0.3) — (0.1) Ending balance — 4.0 4.1
Accumulated Other Comprehensive Income	(In millions) Unrealized investment gains (losses) on AFS securities without a credit allowance Unrealized investment gains (losses) on AFS securities with a credit allowance DAC, DSI, VOBA and future policy benefits adjustments on AFS securities Unrealized gains (losses) on hedging instruments Foreign currency translation and other adjustments Accumulated other comprehensive income (loss) Balance at December 31, 2017 $ 2,089 $ — $ (568) $ (76) $ 4 $ 1,449 Adoption of accounting standards (46) — 4 — — (42) Other comprehensive income (loss) before reclassifications (3,300) — 852 146 (8) (2,310) Less: Reclassification adjustments for gains (losses) realized in net income 1 1 — (1) — — — Less: Income tax expense (benefit) (630) — 168 31 — (431) Balance at December 31, 2018 (628) — 121 39 (4) (472) Other comprehensive income (loss) before reclassifications 4,929 — (1,322) 29 1 3,637 Less: Reclassification adjustments for gains (losses) realized in net income 1 225 — (56) — — 169 Less: Income tax expense (benefit) 958 — (266) 6 — 698 Less: Other comprehensive income attributable to NCI, net of subsidiary issuance of equity interests and tax 16 — — 1 — 17 Balance at December 31, 2019 3,102 — (879) 61 (3) 2,281 Adoption of accounting standards 4 (4) (6) — — (6) Other comprehensive income (loss) before reclassifications 3,292 (41) (634) (106) 18 2,529 Less: Reclassification adjustments for gains (losses) realized in net income 1 353 — (94) — — 259 Less: Income tax expense (benefit) 562 (8) (115) (26) — 413 Less: Other comprehensive income attributable to NCI 145 2 — 7 7 161 Balance at December 31, 2020 $ 5,338 $ (39) $ (1,310) $ (26) $ 8 $ 3,971 1 Recognized in investment related gains (losses) on the consolidated statements of income.
Dividends Declared	The following summarizes dividends declared and paid per preferred stock share by series: Years ended December 31, (Per share) 2020 2019 2018 Series A $ 1,587.51 $ 881.95 $ — Series B 1,406.25 394.53 — Series C 880.99 — — Series D — — — The following summarizes dividends declared and paid in the aggregate on the preferred stock by series: Years ended December 31, (In millions) 2020 2019 2018 Series A $ 55 $ 31 $ — Series B 19 5 — Series C 21 — — Series D — — — Total dividends declared and paid $ 95 $ 36 $ —
Schedule of Preferred Stock	We have four series of preferred stock: 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares, Series A (Series A); 5.625% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series B (Series B); 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Shares, Series C (Series C); and 4.875% Fixed-Rate Perpetual Non-Cumulative Preference Shares, Series D (Series D) as summarized below: Series A Series B Series C Series D Issue date June 10, 2019 September 19, 2019 June 11, 2020 December 18, 2020 Authorized, issued and outstanding 34,500 13,800 24,000 23,000 Liquidation preference per share $ 25,000 $ 25,000 $ 25,000 $ 25,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The following represents our basic and diluted EPS calculations: Year ended December 31, 2020 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted $ 1,573 $ (98) $ (13) $ (3) $ (4) $ (9) Basic weighted average shares outstanding 184.9 25.4 3.3 0.8 1.0 2.4 Dilutive effect of stock compensation plans and warrants 3.7 — — — — — Diluted weighted average shares outstanding 188.6 25.4 3.3 0.8 1.0 2.4 Earnings (loss) per share Basic $ 8.51 $ (3.87) $ (3.87) $ (3.87) $ (3.87) $ (3.87) Diluted $ 8.34 $ (3.87) $ (3.87) $ (3.87) $ (3.87) $ (3.87) Year ended December 31, 2019 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income available to Athene Holding Ltd. common shareholders – basic and diluted $ 1,760 $ 291 $ 38 $ 10 $ 11 $ 26 Basic weighted average shares outstanding 153.9 25.4 3.3 0.8 1.0 2.2 Dilutive effect of stock compensation plans 0.4 — — — — 0.3 Diluted weighted average shares outstanding 154.3 25.4 3.3 0.8 1.0 2.5 Earnings per share Basic $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 11.44 Diluted $ 11.41 $ 11.44 $ 11.44 $ 11.44 $ 11.44 $ 9.94 Year ended December 31, 2018 (In millions, except per share data) Class A Class B Class M-1 Class M-2 Class M-3 Class M-4 Net income available to Athene Holding Ltd. common shareholders – basic and diluted $ 857 $ 157 $ 18 $ 5 $ 5 $ 11 Basic weighted average shares outstanding 160.5 29.3 3.4 0.8 1.0 2.1 Dilutive effect of stock compensation plans 0.6 — — — — 0.6 Diluted weighted average shares outstanding 161.1 29.3 3.4 0.8 1.0 2.7 Earnings per share Basic $ 5.34 $ 5.34 $ 5.34 $ 5.34 $ 5.34 $ 5.34 Diluted $ 5.32 $ 5.34 $ 5.34 $ 5.31 $ 5.31 $ 4.11

Income Taxes Income Tax Expense

Income Taxes Income Tax Expense (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Components of Income Tax Expense (Benefit)	Income tax expense consists of the following: Years ended December 31, (In millions) 2020 2019 2018 Current $ 107 $ 53 $ 78 Deferred 178 64 44 Income tax expense $ 285 $ 117 $ 122 Total income taxes were as follows: Years ended December 31, (In millions) 2020 2019 2018 Income tax expense $ 285 $ 117 $ 122 Income tax expense (benefit) from OCI 413 698 (431) Total income tax expense (benefit) $ 698 $ 815 $ (309)
Schedule of Income before Income Tax	Income tax expense was calculated based on the following income (loss) before income taxes by jurisdiction: Years ended December 31, (In millions) 2020 2019 2018 Bermuda $ 903 $ 1,895 $ 641 US 1,083 528 534 United Kingdom 220 (121) — Income before income taxes $ 2,206 $ 2,302 $ 1,175
Schedule of Effective Income Tax Rate Reconciliation	The expected tax provision computed on pre-tax income at the weighted average tax rate has been calculated as the sum of the pre-tax income in each jurisdiction multiplied by that jurisdiction’s applicable statutory tax rate. Statutory tax rates of 0%, 21% and 19% have been used for Bermuda, the US and the United Kingdom (UK), respectively, for the years ended December 31, 2020, 2019 and 2018. A reconciliation of the difference between the expected tax provision at the weighted average tax rate and income tax expense (benefit) is as follows: Years ended December 31, (In millions, except for percentages) 2020 2019 2018 Expected tax provision computed on pre-tax income at weighted average income tax rate $ 268 $ 88 $ 112 Increase in income taxes resulting from: Deferred tax valuation allowance 8 16 — Non-deductible expenses 5 17 — Prior year true-up (4) 2 11 Corporate owned life insurance (6) (6) (3) Stock compensation expense — 2 1 State taxes and other 14 (2) 1 Income tax expense $ 285 $ 117 $ 122 Effective tax rate 13 % 5 % 10 %
Schedule of Gross Current and Deferred Tax Assets and Liabilities	Current and deferred income tax assets and liabilities were as follows: December 31, (In millions) 2020 2019 Current income tax recoverable $ 55 $ — Current income tax payable — 14 Net current income tax recoverable (payable) $ 55 $ (14) Deferred tax assets $ — $ — Deferred tax liabilities 972 423 Net deferred tax liabilities $ (972) $ (423)
Schedule of Deferred Tax Assets and Liabilities	Deferred income tax assets and liabilities consisted of the following: December 31, (In millions) 2020 2019 Deferred tax assets Insurance liabilities $ 1,723 $ 1,753 Net operating and capital loss carryforwards 86 133 Tax credits — 2 Employee benefits 20 21 Other 36 16 Total deferred tax assets 1,865 1,925 Valuation allowance (74) (63) Deferred tax assets, net of valuation allowance 1,791 1,862 Deferred tax liabilities Investments, including derivatives 998 928 Net unrealized gains on AFS 997 585 DAC, DSI and VOBA 767 758 Other 1 14 Total deferred tax liabilities 2,763 2,285 Net deferred tax liabilities $ (972) $ (423)
Summary of Valuation Allowance	The valuation allowance consists of the following: December 31, (In millions) 2020 2019 US federal and state net operating losses and other deferred tax assets $ 50 $ 47 UK net operating losses and other deferred tax assets 24 16 Total valuation allowance $ 74 $ 63

Statutory Requirements (Tables)

Statutory Requirements (Tables)	12 Months Ended
	Dec. 31, 2020
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices Disclosure [Table Text Block]	The following represents the EBS capital and surplus and BSCR ratios: EBS capital & surplus BSCR ratio December 31, December 31, (In millions) 2020 2019 2020 2019 ALRe $ 17,168 $ 14,073 254 % 310 % AARe 2,441 2,898 967 % 257 % ACRA 1A 2,945 1,237 236 % 341 % December 31, 2020 (In millions) ALRe AARe 1 ACRA 1A Decrease to capital and surplus due to permitted practices $ (4,434) $ (7,762) $ (378) Decrease to statutory net income due to permitted practices (17) (2,922) (683) 1 AARe has permission to use amortized cost instead of fair value as the basis for certain investments but does not produce GAAP financial statements. The effect of the permitted practices to the AARe statutory financial statements reflects the impact of the difference between amortized cost and fair value for certain investments. December 31, (In millions) 2020 2019 ALRe $ 9,971 $ 8,141 AARe 1,096 1,216 ACRA 1A 1,592 59 Statutory capital and surplus and net income (loss) —The following table presents, for each of our primary insurance subsidiaries, the statutory capital and surplus and the statutory net income (loss), based on the most recent statutory financial statements to be filed with insurance regulators: Statutory capital & surplus Statutory net income (loss) December 31, Years ended December 31, (In millions) 2020 2019 2020 2019 2018 ALRe $ 13,518 $ 11,000 $ 1,544 $ 1,247 $ 418 AARe 2,457 2,343 92 248 997 ACRA 1A 2,718 808 1,522 265 (287) AADE 1,700 1,526 54 (86) 18 AAIA 1,312 1,209 (8) 241 81 AANY 320 318 (25) 33 6

Related Parties (Tables)

Related Parties (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	The following represents assets based on the above sub-allocation structure: (In millions, except percentages) December 31, 2020 Percent of Total December 31, 2019 Percent of Total Core $ 49,392 27.3 % $ 32,474 25.5 % Core Plus 41,516 23.0 % 30,155 23.6 % Yield 64,693 35.8 % 48,557 38.0 % High Alpha 6,200 3.4 % 5,062 4.0 % Other 19,088 10.5 % 11,302 8.9 % Total sub-allocation assets $ 180,889 100.0 % $ 127,550 100.0 % December 31, (In millions) 2020 2019 Profit participating notes $ 534 $ — Investment fund — 547 Subordinated debt facility 328 339 Redeemable preferred stock 77 — Total investment in MidCap $ 939 $ 886

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Restricted Pledged Assets and Funds in Trust	The total restricted assets included on the consolidated balance sheets are as follows: December 31, (In millions) 2020 2019 AFS securities $ 9,884 $ 9,369 Trading securities 60 45 Equity securities 26 22 Mortgage loans 5,028 2,535 Investment funds 68 84 Derivative assets 107 105 Short-term investments 52 92 Other investments 105 88 Restricted cash 738 402 Total restricted assets $ 16,068 $ 12,742

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Reconciliation of Segment Operating Revenues to Consolidation	The table below reconciles segment adjusted operating revenues to total revenues presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 10,681 $ 11,460 $ 8,118 Corporate and Other 266 117 44 Non-operating adjustments Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets 868 2,346 (1,020) Investment gains (losses), net of offsets 720 1,685 (515) Noncontrolling interests, VIE expenses and other adjustments to revenues 2,229 650 10 Total revenues $ 14,764 $ 16,258 $ 6,637
Reconciliation of Segment Operating Income to Consolidation	The table below reconciles segment adjusted operating income available to common shareholders to net income available to Athene Holding Ltd. common shareholders presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 1,266 $ 1,322 $ 1,201 Corporate and Other (24) (33) (61) Non-operating adjustments Investment gains (losses), net of offsets 508 994 (274) Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets (235) (65) 242 Integration, restructuring and other non-operating expenses (10) (70) (22) Stock-based compensation, excluding LTIP (11) (12) (11) Income tax expense – non-operating (48) — (22) Net income available to Athene Holding Ltd. common shareholders $ 1,446 $ 2,136 $ 1,053
Reconciliation of Segment Net Investment Income	The table below reconciles segment net investment earnings to net investment income presented on the consolidated statements of income: Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 5,287 $ 5,062 $ 4,188 Corporate and Other 41 117 44 Adjustments to net investment income Change in fair value of reinsurance assets (1,408) (680) (301) Alternative (gains) losses 102 (1) 34 Noncontrolling interests 559 61 — Apollo investment gain 225 — — Held for trading amortization and other 79 37 95 Net investment income $ 4,885 $ 4,596 $ 4,060 Years ended December 31, (In millions) 2020 2019 2018 Retirement Services $ 164 $ 117 $ 100 Corporate and Other 60 — — Adjustments to income tax expense Noncontrolling interest tax expense 13 — — Income tax expense – non-operating 48 — 22 Income tax expense $ 285 $ 117 $ 122
Total Assets by Segment	The following represents total assets by segment: December 31, (In millions) 2020 2019 Retirement Services $ 197,295 $ 143,881 Corporate and Other 5,476 2,994 Total assets $ 202,771 $ 146,875
Revenue from External Customers by Geographic Areas	Deposits and premiums collected by the geographical location are as follows: Years ended December 31, (In millions) 2020 2019 2018 United States $ 37,879 $ 17,159 $ 16,421 Bermuda 17,000 1,348 23,704 Total premiums and deposits, net of ceded $ 54,879 $ 18,507 $ 40,125
Revenue from External Customers by Products and Services	We market annuity products, primarily fixed rate and fixed indexed annuities. Deposits, which are generally not included in revenues on the consolidated statements of income, and premiums collected are as follows: Years ended December 31, (In millions) 2020 2019 2018 Fixed indexed annuities $ 20,257 $ 7,304 $ 29,973 Fixed rate annuities 20,433 3,192 5,501 Payouts without life contingencies 545 341 535 Funding agreements 7,679 1,301 650 Life and other deposits 2 (13) 4 Total deposits 48,916 12,125 36,663 Payouts with life contingencies 5,911 6,332 3,408 Life and other premiums 52 50 54 Total premiums 5,963 6,382 3,462 Total premiums and deposits, net of ceded $ 54,879 $ 18,507 $ 40,125

Quarterly Results of Operatio_2

Quarterly Results of Operations (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	The unaudited quarterly results of operations for the years ended December 31, 2020 and 2019 are summarized in the table below: Three months ended (In millions, except per share data) March 31 June 30 September 30 December 31 2020 Total revenues $ (1,549) $ 4,398 $ 3,275 $ 8,640 Total benefits and expenses (167) 3,317 2,251 7,157 Net income (loss) (1,216) 931 884 1,322 Less: Net income (loss) attributable to noncontrolling interests (169) 88 232 229 Net income (loss) attributable to Athene Holding Ltd. shareholders (1,047) 843 652 1,093 Less: Preferred stock dividends 18 19 30 28 Net income (loss) available to Athene Holding Ltd. common shareholders (1,065) 824 622 1,065 Earnings (loss) per share Basic – Class A $ (5.81) $ 4.25 $ 3.22 $ 5.57 Basic – Classes B, M-1, M-2, M-3 and M-4 (3.87) N/A N/A N/A Diluted – Class A (5.81) 4.19 3.16 5.44 Diluted – Class B (3.87) N/A N/A N/A Diluted – Class M-1 (3.87) N/A N/A N/A Diluted – Class M-2 (3.87) N/A N/A N/A Diluted – Class M-3 (3.87) N/A N/A N/A Diluted – Class M-4 (3.87) N/A N/A N/A 2019 Total revenues $ 4,995 $ 3,423 $ 4,584 $ 3,256 Total benefits and expenses 4,255 2,673 4,305 2,723 Net income 708 720 293 464 Less: Net income attributable to noncontrolling interests — — — 13 Net income attributable to Athene Holding Ltd. shareholders 708 720 293 451 Less: Preferred stock dividends — — 17 19 Net income available to Athene Holding Ltd. common shareholders 708 720 276 432 Earnings per share Basic – All classes $ 3.65 $ 3.76 $ 1.50 $ 2.43 Diluted – Class A 3.64 3.75 1.50 2.42 Diluted – Class B 3.65 3.76 1.50 2.43 Diluted – Class M-1 3.65 3.76 1.50 2.43 Diluted – Class M-2 3.65 3.76 1.50 2.43 Diluted – Class M-3 3.65 3.76 1.50 2.43 Diluted – Class M-4 3.15 3.28 1.29 2.13 N/A – Not applicable. See Note 10 – Equity and Note 11 – Earnings Per Share for further information.

Business, Basis of Presentati_3

Business, Basis of Presentation, and Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020	Dec. 31, 2017
Significant Accounting Policies [Line Items]
Number of days interest is past due for nonaccrual status	90 days
Ownership percentage at which fair value option is elected	3.00%
Number of predecessors	2
Equity	$ 20,140	$ 14,141	$ 8,276		$ 9,176
Fixed maturity securities, amortized cost	82,544	71,262
Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Equity		(125)			(3)
Cumulative Effect, Period of Adoption, Adjustment | RMBS
Significant Accounting Policies [Line Items]
Fixed maturity securities, amortized cost				$ 17
Retained earnings
Significant Accounting Policies [Line Items]
Equity	8,073	6,939	$ 5,286		4,255
Retained earnings | Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Equity		(117)			$ 39
Retained earnings amount offset				$ 74
Commercial mortgage loans
Significant Accounting Policies [Line Items]
New accounting pronouncement effect, percentage				1.59%
Valuation allowance related to residential mortgage loans	$ 11,615	$ 10,515
Commercial mortgage loans | Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Valuation allowance related to residential mortgage loans				$ 36
Nonparticipating Life Insurance Policy | Minimum
Significant Accounting Policies [Line Items]
Investment yield assumption for non-participation contracts	2.30%
Nonparticipating Life Insurance Policy | Maximum
Significant Accounting Policies [Line Items]
Investment yield assumption for non-participation contracts	5.40%
Life Insurance Product Line
Significant Accounting Policies [Line Items]
Percent of participating policies	10.00%	10.00%
Premiums related to participation policies, percent	32.00%	30.00%	26.00%

Investments - Schedule of AFS S

Investments - Schedule of AFS Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 82,544		$ 71,262
Allowance for Credit Losses	(104)	$ (17)
Gross Unrealized Gains	7,515		4,385
Gross Unrealized Losses	(582)		(469)
Fair Value	89,373		75,178
Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	76,100		67,479
Allowance for Credit Losses	(103)	(17)
Gross Unrealized Gains	7,395		4,344
Gross Unrealized Losses	(539)		(449)
Fair Value	82,853		71,374
US government and agencies | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	349		35
Allowance for Credit Losses	0
Gross Unrealized Gains	3		1
Gross Unrealized Losses	(1)		0
Fair Value	351		36
US state, municipal and political subdivisions | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	864		1,322
Allowance for Credit Losses	0
Gross Unrealized Gains	169		220
Gross Unrealized Losses	0		(1)
Fair Value	1,033		1,541
Foreign governments | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	330		298
Allowance for Credit Losses	0
Gross Unrealized Gains	38		29
Gross Unrealized Losses	0		0
Fair Value	368		327
Corporate | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	51,934		44,106
Allowance for Credit Losses	(6)	0
Gross Unrealized Gains	6,368		3,332
Gross Unrealized Losses	(116)		(210)
Fair Value	58,180		47,228
CLO | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,631		7,524
Allowance for Credit Losses	(1)	0
Gross Unrealized Gains	145		21
Gross Unrealized Losses	(206)		(196)
Fair Value	9,569		7,349
ABS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,259		5,018
Allowance for Credit Losses	(6)	0
Gross Unrealized Gains	140		124
Gross Unrealized Losses	(123)		(24)
Fair Value	4,270		5,118
CMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,165		2,304
Allowance for Credit Losses	(10)	0
Gross Unrealized Gains	85		104
Gross Unrealized Losses	(71)		(8)
Fair Value	2,169		2,400
RMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,568		6,872
Allowance for Credit Losses	(80)	(17)
Gross Unrealized Gains	447		513
Gross Unrealized Losses	(22)		(10)
Fair Value	6,913		7,375
Noncredit component of OTTI losses on AFS securities
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			25
Noncredit component of OTTI losses on AFS securities | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			25
Noncredit component of OTTI losses on AFS securities | US government and agencies | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Noncredit component of OTTI losses on AFS securities | US state, municipal and political subdivisions | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Noncredit component of OTTI losses on AFS securities | Foreign governments | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Noncredit component of OTTI losses on AFS securities | Corporate | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			1
Noncredit component of OTTI losses on AFS securities | CLO | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Noncredit component of OTTI losses on AFS securities | ABS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			4
Noncredit component of OTTI losses on AFS securities | CMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			1
Noncredit component of OTTI losses on AFS securities | RMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			19
Related Party
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,444		3,783
Allowance for Credit Losses	(1)
Gross Unrealized Gains	120		41
Gross Unrealized Losses	(43)		(20)
Fair Value	6,520		3,804
Related Party | Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	213		18
Allowance for Credit Losses	0
Gross Unrealized Gains	2		1
Gross Unrealized Losses	0		0
Fair Value	215		19
Related Party | CLO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,511		951
Allowance for Credit Losses	(1)	$ 0
Gross Unrealized Gains	23		3
Gross Unrealized Losses	(13)		(18)
Fair Value	1,520		936
Related Party | ABS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,720		2,814
Allowance for Credit Losses	0
Gross Unrealized Gains	95		37
Gross Unrealized Losses	(30)		(2)
Fair Value	$ 4,785		2,849
Related Party | Noncredit component of OTTI losses on AFS securities
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Related Party | Noncredit component of OTTI losses on AFS securities | Corporate
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Related Party | Noncredit component of OTTI losses on AFS securities | CLO
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			0
Related Party | Noncredit component of OTTI losses on AFS securities | ABS
Debt Securities, Available-for-sale [Line Items]
AOCI before Tax, Attributable to Parent			$ 0

Investments - Maturities of AFS

Investments - Maturities of AFS Securities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Amortized Cost	$ 82,544	$ 71,262
Fair Value
Total AFS securities	89,373	75,178
Investments, excluding investments in related party
Amortized Cost
Due in one year or less	817
Due after one year through five years	8,146
Due after five years through ten years	13,975
Due after ten years	30,539
CLO, ABS, CMBS and RMBS	22,623
Amortized Cost	76,100	67,479
Fair Value
Due in one year or less	829
Due after one year through five years	8,684
Due after five years through ten years	15,235
Due after ten years	35,184
CLO, ABS, CMBS and RMBS	22,921
Total AFS securities	82,853	71,374
Related Party
Amortized Cost
Due after one year through five years	18
Due after five years through ten years	195
CLO, ABS, CMBS and RMBS	6,231
Amortized Cost	6,444	3,783
Fair Value
Due after one year through five years	20
Due after five years through ten years	195
CLO, ABS, CMBS and RMBS	6,305
Total AFS securities	$ 6,520	$ 3,804

Investments - Unrealized Losses

Investments - Unrealized Losses on AFS Securities (Details) $ in Millions	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 7,684
12 months or more, Fair Value	3,834
12 months or more, Gross Unrealized Losses		$ (265)
Fair Value	11,518
Gross Unrealized Losses	(488)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		469
12 months or more, Gross Unrealized Losses	(234)
Less than 12 months, Gross Unrealized Losses		(204)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	254
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		6,964
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		4,854
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		11,818
Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	6,336
12 months or more, Fair Value	3,602
12 months or more, Gross Unrealized Losses		(254)
Fair Value	9,938
Gross Unrealized Losses	$ (445)
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	1,264
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	356
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		449
12 months or more, Gross Unrealized Losses	$ (224)
Less than 12 months, Gross Unrealized Losses		(195)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	221
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		6,245
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		4,612
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		10,857
US government and agencies | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	31
12 months or more, Fair Value	0
12 months or more, Gross Unrealized Losses		0
Fair Value	31
Gross Unrealized Losses	(1)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		0
12 months or more, Gross Unrealized Losses	0
Less than 12 months, Gross Unrealized Losses		0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		3
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		3
US state, municipal and political subdivisions | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	9
12 months or more, Fair Value	6
12 months or more, Gross Unrealized Losses		0
Fair Value	15
Gross Unrealized Losses	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		1
12 months or more, Gross Unrealized Losses	0
Less than 12 months, Gross Unrealized Losses		(1)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		78
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		10
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		88
Foreign governments | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2
12 months or more, Fair Value	0
Fair Value	2
Gross Unrealized Losses	0
12 months or more, Gross Unrealized Losses	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0
Corporate | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2,218
12 months or more, Fair Value	248
12 months or more, Gross Unrealized Losses		(70)
Fair Value	2,466
Gross Unrealized Losses	(90)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		210
12 months or more, Gross Unrealized Losses	(24)
Less than 12 months, Gross Unrealized Losses		(140)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	66
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		2,898
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		902
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		3,800
CLO | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1,649
12 months or more, Fair Value	3,179
12 months or more, Gross Unrealized Losses		(158)
Fair Value	4,828
Gross Unrealized Losses	(200)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		196
12 months or more, Gross Unrealized Losses	(167)
Less than 12 months, Gross Unrealized Losses		(38)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	33
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		1,959
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		3,241
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		5,200
ABS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1,169
12 months or more, Fair Value	84
12 months or more, Gross Unrealized Losses		(18)
Fair Value	1,253
Gross Unrealized Losses	(91)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		24
12 months or more, Gross Unrealized Losses	(18)
Less than 12 months, Gross Unrealized Losses		(6)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	73
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		642
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		255
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		897
CMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	710
12 months or more, Fair Value	48
12 months or more, Gross Unrealized Losses		(4)
Fair Value	758
Gross Unrealized Losses	(50)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		8
12 months or more, Gross Unrealized Losses	(13)
Less than 12 months, Gross Unrealized Losses		(4)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	37
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		220
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		41
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		261
RMBS | Investments, excluding investments in related party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	548
12 months or more, Fair Value	37
12 months or more, Gross Unrealized Losses		(4)
Fair Value	585
Gross Unrealized Losses	(13)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		10
12 months or more, Gross Unrealized Losses	(2)
Less than 12 months, Gross Unrealized Losses		(6)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	11
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		445
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		163
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		608
Related Party
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1,348
12 months or more, Fair Value	232
12 months or more, Gross Unrealized Losses		(11)
Fair Value	1,580
Gross Unrealized Losses	$ (43)
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions | security	45
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security	8
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		20
12 months or more, Gross Unrealized Losses	$ (10)
Less than 12 months, Gross Unrealized Losses		(9)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	33
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		719
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		242
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		961
Related Party | CLO
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	336
12 months or more, Fair Value	232
12 months or more, Gross Unrealized Losses		(11)
Fair Value	568
Gross Unrealized Losses	(13)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		18
12 months or more, Gross Unrealized Losses	(10)
Less than 12 months, Gross Unrealized Losses		(7)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		362
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		242
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		604
Related Party | ABS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	1,012
12 months or more, Fair Value	0
12 months or more, Gross Unrealized Losses		0
Fair Value	1,012
Gross Unrealized Losses	(30)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		2
12 months or more, Gross Unrealized Losses	0
Less than 12 months, Gross Unrealized Losses		(2)
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 30
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss		357
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		$ 357

Investments - Net Investment In

Investments - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Investment Income [Line Items]
Investment revenue	$ 5,389	$ 5,031	$ 4,415
Investment expenses	(504)	(435)	(355)
Net investment income	4,885	4,596	4,060
Trading securities
Net Investment Income [Line Items]
Investment revenue	192	189	200
Equity securities
Net Investment Income [Line Items]
Investment revenue	14	16	12
Mortgage loans, net of allowances
Net Investment Income [Line Items]
Investment revenue	742	670	457
Investment funds
Net Investment Income [Line Items]
Investment revenue	721	382	287
Funds withheld at interest
Net Investment Income [Line Items]
Investment revenue	269	527	492
Other
Net Investment Income [Line Items]
Investment revenue	226	159	112
AFS securities
Net Investment Income [Line Items]
Investment revenue	$ 3,225	$ 3,088	$ 2,855

Investments - Investment Relate

Investments - Investment Related Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Securities [Line Items]
Proceeds from Sale of Debt Securities, Available-for-sale	$ 7,911	$ 6,886
AFS securities
Gross realized gains on investment activity	602	178	$ 165
Gross realized losses on investment activity	(415)	(56)	(151)
Net realized investment gains on AFS securities	187	122	14
Net recognized investment gains (losses) on trading securities	33	151	(254)
Net recognized investment gains (losses) on equity securities	(218)	25	(65)
Derivative gains (losses)	3,430	4,443	(1,099)
Other gains (losses)	(54)	(22)	44
Proceeds from sale of available-for-sale securities			6,547
Provision for Loan, Lease, and Other Losses	(69)	0	0
Gain (Loss) on Investments	3,309	4,719	(1,360)
Investments, excluding investments in related party
AFS securities
Debt Securities, Trading, Unrealized Gain (Loss)	130	193	(143)
Equity Securities, FV-NI, Unrealized Gain (Loss)	(9)	19	(18)
Related Party
AFS securities
Debt Securities, Trading, Unrealized Gain (Loss)	(37)	(18)	(25)
Equity Securities, FV-NI, Unrealized Gain (Loss)	0	(18)	24
Gain (Loss) on Investments	$ 702	$ 1,009	$ (98)

Investments - Purchase Credit I

Investments - Purchase Credit Impaired (PCI) Investments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fixed maturity securities
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Contractually Required Payments Receivable	$ 6,772
Expected cash flows	6,064
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Amortized Cost	(4,603)
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield	1,461	$ 1,677
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Carrying Amount, Net	5,007
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Outstanding Balance	5,740
Mortgage loans
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Contractually Required Payments Receivable	3,647
Expected cash flows	3,606
Carrying value	2,575
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	1,031	$ 697
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Fair Value	2,756
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance	2,925
Fixed Maturities
Mortgage loans
Certain Loans Acquired in Transfer, Nonaccretable Difference	708
Mortgages loans
Mortgage loans
Certain Loans Acquired in Transfer, Nonaccretable Difference	$ 41

Investments - PCI Securities Ac

Investments - PCI Securities Acquired During the Period (Details) $ in Millions	Dec. 31, 2019USD ($)
Fixed maturity securities
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Acquired, Contractually Required Payments Receivable at Acquisition	$ 176
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Acquired, Cash Flows Expected to be Collected at Acquisition	146
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Acquired, at Acquisition, at Fair Value	124
Mortgage loans
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition	1,198
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition	1,179
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value	$ 910

Investments - PCI Securities _2

Investments - PCI Securities Accretable Yield (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
Fixed Maturity Securities Accretable Yield Activity
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Beginning Balance	$ 1,677
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions	1
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion	(307)
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	90
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Ending Balance	1,461
Mortgage Loans Accretable Yield Activity
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Beginning Balance	697
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Additions	191
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	(115)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications (to) from Nonaccretable Difference	258
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Ending Balance	$ 1,031

Investments - Repurchase Agreem

Investments - Repurchase Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	$ 598	$ 512
Maturity Overnight and on Demand [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	0	0
Maturity Less than 30 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	0	102
Maturity 30 to 90 Days [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	0	200
Maturity Greater than 1 Year [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	598	0
90 Days to 1 Year [Member]
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Secured Debt, Repurchase Agreements	0	210
Corporate | AFS securities
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements, Amortized Cost	559	498
Pledged Financial Instruments, Not Separately Reported, Securities for Repurchase Agreements	$ 644	$ 534

Investments - Mortgage Loans, N

Investments - Mortgage Loans, Net (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 15,938	$ 14,959
Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	11,448	10,505
Financing Receivable, before Allowance for Credit Loss	11,615	10,515
Allowance for Loan and Lease Losses, Real Estate	(167)	(10)
Commercial mortgage loans | Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		10,412
Financing Receivable, before Allowance for Credit Loss	11,383	10,422
Commercial mortgage loans | Commercial mortgage loans under development
Loans and Leases Receivable Disclosure [Line Items]
Financing Receivable, before Allowance for Credit Loss	232	93
Residential Mortgage [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	4,490	4,454
Financing Receivable, before Allowance for Credit Loss	4,569	4,455
Allowance for Loan and Lease Losses, Real Estate	$ (79)	$ (1)

Investments - Mortgage Loans,_2

Investments - Mortgage Loans, Net by Property Type and Geographic Region (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 15,938	$ 14,959
Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 11,448	$ 10,505
Commercial mortgage loans | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	100.00%	100.00%
Commercial mortgage loans | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	100.00%	100.00%
Commercial mortgage loans | Total US Region
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 10,821	$ 10,271
Commercial mortgage loans | Total US Region | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	94.50%	97.80%
Commercial mortgage loans | East North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 1,209	$ 1,036
Commercial mortgage loans | East North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	10.50%	9.90%
Commercial mortgage loans | East South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 402	$ 428
Commercial mortgage loans | East South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	3.50%	4.10%
Commercial mortgage loans | Middle Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 3,069	$ 2,580
Commercial mortgage loans | Middle Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	26.80%	24.60%
Commercial mortgage loans | Mountain
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 487	$ 528
Commercial mortgage loans | Mountain | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	4.20%	5.00%
Commercial mortgage loans | New England
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 350	$ 340
Commercial mortgage loans | New England | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	3.10%	3.20%
Commercial mortgage loans | Pacific
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 2,746	$ 2,502
Commercial mortgage loans | Pacific | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	24.00%	23.80%
Commercial mortgage loans | South Atlantic
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 1,773	$ 1,920
Commercial mortgage loans | South Atlantic | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	15.50%	18.30%
Commercial mortgage loans | West North Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 145	$ 146
Commercial mortgage loans | West North Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	1.30%	1.40%
Commercial mortgage loans | West South Central
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 640	$ 791
Commercial mortgage loans | West South Central | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	5.60%	7.50%
Commercial mortgage loans | International Region
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 627	$ 234
Commercial mortgage loans | International Region | Geographic Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	5.50%	2.20%
Commercial mortgage loans | Office building
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 3,589	$ 2,899
Commercial mortgage loans | Office building | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	31.40%	27.60%
Commercial mortgage loans | Retail
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 2,083	$ 2,182
Commercial mortgage loans | Retail | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	18.20%	20.80%
Commercial mortgage loans | Apartment
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 2,441	$ 2,142
Commercial mortgage loans | Apartment | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	21.30%	20.40%
Commercial mortgage loans | Hotels
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 1,294	$ 1,104
Commercial mortgage loans | Hotels | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	11.30%	10.50%
Commercial mortgage loans | Industrial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 1,362	$ 1,448
Commercial mortgage loans | Industrial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	11.90%	13.80%
Commercial mortgage loans | Other commercial
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 679	$ 730
Commercial mortgage loans | Other commercial | Property Type Concentration Risk | Mortgage Loans, Net
Loans and Leases Receivable Disclosure [Line Items]
Percentage of Total	5.90%	6.90%

Investments - Residential Mortg

Investments - Residential Mortgage Loans, Percentage by Geographical Location (Details) - Residential Mortgage [Member] - Geographic Concentration Risk - Mortgage Loans, Net	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	100.00%	100.00%
Total US Region
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	85.40%	87.60%
California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	24.80%	27.00%
Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	13.30%	12.70%
TEXAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	4.40%	6.20%
New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	6.20%	3.30%
Other U.S. States
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	36.70%	38.40%
IRELAND
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	12.90%	12.40%
International Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total	1.70%	0.00%
International
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of Total			14.60%	12.40%

Investments - Loan Valuation Al

Investments - Loan Valuation Allowance (Details) - USD ($)	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		$ 253,000,000	$ 11,000,000
Financing Receivable, Credit Loss, Expense (Reversal)		15,000,000
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		7,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff		(1,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss	$ 17,000,000	104,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		129,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		66,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(33,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(75,000,000)
Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		232,000,000	11,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss	17,000,000	103,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		127,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		66,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(32,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(75,000,000)
Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		14,000,000	0
Debt Securities, Available-for-sale, Allowance for Credit Loss		1,000,000
Corporate | Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	6,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		44,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(14,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(24,000,000)
Corporate | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss		0
CLO | Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	1,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		1,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		0
CLO | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	1,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		2,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(1,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		0
ABS | Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	6,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		7,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(1,000,000)
ABS | Related Party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss		0
CMBS | Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	0	10,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		24,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(1,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(13,000,000)
RMBS | Investments, excluding investments in related party
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt Securities, Available-for-sale, Allowance for Credit Loss	17,000,000	80,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not Previously Recorded		51,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		66,000,000
Debt Securities, Available-for-sale, Allowance for Credit Loss, Securities Sold		(17,000,000)
Debt Securities, Available-for-sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal)		(37,000,000)
Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	221,000,000
Commercial mortgage loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		167,000,000	10,000,000
Financing Receivable, Credit Loss, Expense (Reversal)		(10,000,000)
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Financing Receivable, Allowance for Credit Loss, Writeoff		0
Commercial mortgage loans | Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	167,000,000
Residential Mortgage [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		79,000,000	1,000,000
Financing Receivable, Credit Loss, Expense (Reversal)		29,000,000
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		7,000,000
Financing Receivable, Allowance for Credit Loss, Writeoff		(1,000,000)
Residential Mortgage [Member] | Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	43,000,000
Other investments
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss		7,000,000	$ 0
Financing Receivable, Credit Loss, Expense (Reversal)		(4,000,000)
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase		0
Financing Receivable, Allowance for Credit Loss, Writeoff		$ 0
Other investments | Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease)	$ 11,000,000

Investments - Mortgage Loans,_3

Investments - Mortgage Loans, Net Past Due (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Mortgage loans, net of allowances	$ 15,938,000,000	$ 14,959,000,000
Commercial mortgage loans
Financing Receivable, Past Due [Line Items]
Mortgage loans, net of allowances	11,448,000,000	10,505,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year	1,913,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,420,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,662,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,012,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,478,000,000
Financing Receivable, Past Due		0
Financing Receivable, before Allowance for Credit Loss	11,615,000,000	10,515,000,000
Commercial mortgage loans | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Current (less than 30 days past due)	11,499,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year	1,913,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,400,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,617,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	987,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,452,000,000
Commercial mortgage loans | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	20,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	45,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	25,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	5,000,000
Financing Receivable, Past Due	95,000,000
Commercial mortgage loans | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	21,000,000
Financing Receivable, Past Due	21,000,000
Residential Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Nonperforming mortgage loans		67,000,000
Mortgage loans, net of allowances	4,490,000,000	4,454,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year	1,041,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	991,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,802,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	563,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	164,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	8,000,000
Financing Receivable, before Allowance for Credit Loss	$ 4,569,000,000	$ 4,455,000,000
Forecast Period	1 year
Residential Mortgage [Member] | Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Current (less than 30 days past due)	$ 4,259,000,000
Financing Receivable, Year One, Originated, Current Fiscal Year	955,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	942,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,730,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	485,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	141,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	6,000,000
Residential Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	68,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	16,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	34,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	26,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	8,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,000,000
Financing Receivable, Past Due	153,000,000
Residential Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	15,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	7,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	16,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	9,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	3,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	0
Financing Receivable, Past Due	50,000,000
Residential Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	3,000,000
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	26,000,000
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	22,000,000
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	43,000,000
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	12,000,000
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,000,000
Financing Receivable, Past Due	$ 107,000,000
Commercial Loan [Member]
Financing Receivable, Past Due [Line Items]
Forecast Period	8 years
Commercial Loan [Member] | Maximum
Financing Receivable, Past Due [Line Items]
Forecast Period	2 years
Commercial Loan [Member] | Minimum
Financing Receivable, Past Due [Line Items]
Forecast Period	1 year

Investments - Nonaccrual Status

Investments - Nonaccrual Status (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Residential Mortgage [Member]
Financing Receivable, Nonaccrual [Line Items]
Financing Receivable, Nonaccrual	$ 107	$ 67
Financing Receivable, Nonaccrual, No Allowance	13
Financing Receivable, Nonaccrual, Interest Income	5
Commercial mortgage loans
Financing Receivable, Nonaccrual [Line Items]
Financing Receivable, Nonaccrual	38	$ 0
Financing Receivable, Nonaccrual, No Allowance	0
Financing Receivable, Nonaccrual, Interest Income	$ 0

Investments - Mortgage Loans, L

Investments - Mortgage Loans, Loan to Value Ratio (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 15,938	$ 14,959
Commercial mortgage loans
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	11,448	10,505
Financing Receivable, Year One, Originated, Current Fiscal Year	1,913
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,420
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,662
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,012
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,478
Financing Receivable, before Allowance for Credit Loss	11,615	10,515
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		10,412
Financing Receivable, Year One, Originated, Current Fiscal Year	1,807
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,393
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,563
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,012
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,478
Financing Receivable, before Allowance for Credit Loss	11,383	10,422
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV 81 to 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		31
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	25
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	21
Financing Receivable, before Allowance for Credit Loss	46
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV 61 to 70 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		4,093
Financing Receivable, Year One, Originated, Current Fiscal Year	583
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,988
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	1,222
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	440
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	46
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	106
Financing Receivable, before Allowance for Credit Loss	4,385
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV Less Than 50 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		2,640
Financing Receivable, Year One, Originated, Current Fiscal Year	431
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	600
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	201
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	152
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	44
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,153
Financing Receivable, before Allowance for Credit Loss	2,581
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV 50 to 60 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		2,486
Financing Receivable, Year One, Originated, Current Fiscal Year	315
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,320
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	765
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	300
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	40
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	147
Financing Receivable, before Allowance for Credit Loss	2,887
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV 71 to 80 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		$ 1,162
Financing Receivable, Year One, Originated, Current Fiscal Year	478
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	485
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	375
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	95
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	13
Financing Receivable, before Allowance for Credit Loss	1,446
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | LTV Greater than 100 Percent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	0
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	0
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	0
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	38
Financing Receivable, before Allowance for Credit Loss	$ 38

Investments - Mortgage Loans, D

Investments - Mortgage Loans, Debt Service Coverage Ratio (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 15,938	$ 14,959
Commercial mortgage loans
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	11,448	10,505
Financing Receivable, Year One, Originated, Current Fiscal Year	1,913
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,420
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,662
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,012
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,478
Financing Receivable, before Allowance for Credit Loss	11,615	10,515
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		10,412
Financing Receivable, Year One, Originated, Current Fiscal Year	1,807
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	4,393
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,563
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	1,012
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	130
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,478
Financing Receivable, before Allowance for Credit Loss	11,383	10,422
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | Debt Service Coverage Ratio, Greater than 1.20 [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		9,212
Financing Receivable, Year One, Originated, Current Fiscal Year	1,274
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	2,964
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	2,440
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	846
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	129
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	1,369
Financing Receivable, before Allowance for Credit Loss	9,022
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | Debt Service Coverage Ratio, 1.00 to 1.20 [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		1,166
Financing Receivable, Year One, Originated, Current Fiscal Year	533
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,122
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	36
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	70
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	1
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	101
Financing Receivable, before Allowance for Credit Loss	1,863
Commercial mortgage loans | Commercial mortgage loans, excluding loans under development | Debt Service Coverage Ratio, Less than 1.00 [Member]
Loans and Leases Receivable Disclosure [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net		$ 34
Financing Receivable, Year One, Originated, Current Fiscal Year	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year	307
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year	87
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year	96
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year	8
Financing Receivable, before Allowance for Credit Loss	$ 498

Investments - Investment Funds

Investments - Investment Funds Summary (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 6,087	$ 4,300
Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 803	$ 750
Carrying Amount, Assets, Percent of Total	100.00%	100.00%
Private Equity Funds [Member] | Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 267	$ 236
Carrying Amount, Assets, Percent of Total	33.30%	31.50%
Real Assets [Member] | Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 81	$ 83
Carrying Amount, Assets, Percent of Total	10.10%	11.10%
Real Estate Funds [Member] | Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 348	$ 277
Carrying Amount, Assets, Percent of Total	43.30%	36.90%
Commodities Investment [Member] | Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 0	$ 1
Carrying Amount, Assets, Percent of Total	0.00%	0.10%
Credit Funds [Member] | Investments, excluding investments in related party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 107	$ 153
Carrying Amount, Assets, Percent of Total	13.30%	20.40%
Related Party
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 5,284	$ 3,550
Carrying Amount, Assets, Percent of Total	100.00%	100.00%
Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,889	$ 1,758
Carrying Amount, Assets, Percent of Total	35.70%	49.50%
Related Party | Private Equity Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 473	$ 105
Carrying Amount, Assets, Percent of Total	8.90%	3.00%
Related Party | Real Assets [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 172	$ 182
Carrying Amount, Assets, Percent of Total	3.30%	5.10%
Related Party | Real Estate Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 828	$ 853
Carrying Amount, Assets, Percent of Total	15.70%	24.00%
Related Party | Commodities Investment [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 113	$ 163
Carrying Amount, Assets, Percent of Total	2.10%	4.60%
Related Party | Credit Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 375	$ 370
Carrying Amount, Assets, Percent of Total	7.10%	10.40%
Related Party | Equity securities
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 110	$ 119
Carrying Amount, Assets, Percent of Total	2.10%	3.40%
AmeriHome [Member] | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 444	$ 487
Carrying Amount, Assets, Percent of Total	8.40%	13.70%
Catalina Holdings (Bermuda) Ltd [Member] | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 334	$ 271
Carrying Amount, Assets, Percent of Total	6.30%	7.60%
Athora Holding Ltd. [Member] | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 709	$ 132
Carrying Amount, Assets, Percent of Total	13.40%	3.70%
Athora Holding Ltd. [Member] | Related Party | Private Equity Funds [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 709	$ 132
Venerable Holdings, Inc. | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 123	$ 99
Carrying Amount, Assets, Percent of Total	2.30%	2.80%
MidCap | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 0	$ 547
Carrying Amount, Assets, Percent of Total	0.00%	15.40%
Apollo | Related Party | Other Fund [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 1,324	$ 0
Carrying Amount, Assets, Percent of Total	25.10%	0.00%
Individually Immaterial Counterparties | Related Party | Differentiated Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investment funds	$ 279	$ 222
Carrying Amount, Assets, Percent of Total	5.30%	6.30%

Investments - Equity Method Inv

Investments - Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Less: Assets received	$ 202,771				$ 146,875				$ 202,771	$ 146,875
Liabilities assumed	182,631				132,734				182,631	132,734
Equity	20,140				14,141				20,140	14,141	$ 8,276	$ 9,176
Net income	1,322	$ 884	$ 931	$ (1,216)	464	$ 293	$ 720	$ 708	1,921	2,185	1,053
Equity Method Investment, Nonconsolidated Investee, Other [Member]
Schedule of Equity Method Investments [Line Items]
Less: Assets received	130,807				50,563				130,807	50,563
Liabilities assumed	109,654				31,821				109,654	31,821
Equity	$ 21,153				$ 18,742				21,153	18,742
Net income									$ 2,196	$ 817	$ 1,159

Investments - Equity Method I_2

Investments - Equity Method Investment Ownership (Details) - Investment funds - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Fair Value, Option, Fair Value Carrying Amount, Assets	$ 2,280	$ 973
Equity Method Investments	3,807	3,327
Ownership Percentage, One Hundred Percent [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	717	11
Ownership Percentage, Greater than Three Percent and Less than or Equal to Forty Nine Percent [Member]
Schedule of Equity Method Investments [Line Items]
Fair Value, Option, Fair Value Carrying Amount, Assets	2,109	772
Equity Method Investments	2,412	1,938
Ownership Percentage, Greater than or Equal to Fifty Percentage and Less than or Equal to Ninety Nine Percent [Member]
Schedule of Equity Method Investments [Line Items]
Fair Value, Option, Fair Value Carrying Amount, Assets	28	28
Equity Method Investments	678	1,378
Ownership Percentage, Less than Three Percent [Member]
Schedule of Equity Method Investments [Line Items]
Fair Value, Option, Fair Value Carrying Amount, Assets	$ 143	$ 173

Investments - Summary of Maximu

Investments - Summary of Maximum Loss Exposure (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 40,479	$ 34,326
Less: Assets received	202,771	146,875
Investment funds | Investments, excluding investments in related party
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	1,265	1,265
Related Party | Investment funds
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	7,989	5,955
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Less: Assets received	37,318	31,622
Variable Interest Entity, Not Primary Beneficiary | Investment funds | Investments, excluding investments in related party
Variable Interest Entity [Line Items]
Less: Assets received	803	750
Variable Interest Entity, Not Primary Beneficiary | Related Party | Investment funds
Variable Interest Entity [Line Items]
Less: Assets received	5,284	3,550
Fixed Maturity Securities | Investments, excluding investments in related party
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	23,027	22,170
Fixed Maturity Securities | Related Party
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	8,126	4,878
Fixed Maturity Securities | Variable Interest Entity, Not Primary Beneficiary | Investments, excluding investments in related party
Variable Interest Entity [Line Items]
Less: Assets received	23,325	22,694
Fixed Maturity Securities | Variable Interest Entity, Not Primary Beneficiary | Related Party
Variable Interest Entity [Line Items]
Less: Assets received	7,834	4,570
Equity securities | Related Party
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	72	58
Equity securities | Variable Interest Entity, Not Primary Beneficiary | Related Party
Variable Interest Entity [Line Items]
Less: Assets received	$ 72	$ 58

Investments - Reverse Repurchas

Investments - Reverse Repurchase Agreements (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Securities Purchased under Agreements to Resell	$ 0	$ 190
Securities Purchased under Agreements to Resell, Fair Value of Collateral	$ 0	$ 630

Investments - PCD Securities (D

Investments - PCD Securities (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Purchased Financial Assets with Credit Deterioration [Line Items]
Debt Securities, Available-for-sale, Purchased with Credit Deterioration, Amount at Purchase Price	$ 254
Debt Securities, Available-for-sale, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date	66
Debt Securities, Available-for-sale, Purchased with Credit Deterioration, Discount (Premium)	36
Debt Securities, Available-for-sale, Purchased with Credit Deterioration, Amount at Par Value	356
Mortgage loans, net of allowances
Purchased Financial Assets with Credit Deterioration [Line Items]
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price	524
Financing Receivable, Purchased with Credit Deterioration, Allowance for Credit Loss at Acquisition Date	7
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium)	(13)
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value	$ 518

Derivative Instruments - Summar

Derivative Instruments - Summary of Notional and Fair Value of Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative assets, fair value	$ 3,523	$ 2,888
Gross amount recognized	298	97
Funds withheld liability	452	408
Total derivative assets, including embedded derivatives, fair value	6,329	4,283
Total derivative liabilities, including embedded derivatives, fair value	13,230	11,070
Derivatives designated as hedges
Derivative [Line Items]
Derivative assets, fair value	137	114
Gross amount recognized	$ 192	$ 67
Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Notional Amount	4,417	3,158
Derivative assets, fair value	$ 134	$ 113
Gross amount recognized	$ 181	$ 56
Derivatives designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	2,038	717
Derivative assets, fair value	$ 3	$ 1
Gross amount recognized	$ 9	$ 9
Derivatives designated as hedges | Foreign currency forwards on net investments | Foreign currency forwards
Derivative [Line Items]
Notional Amount	173	139
Derivative assets, fair value	$ 0	$ 0
Gross amount recognized	2	2
Derivatives not designated as hedges
Derivative [Line Items]
Total derivative assets, including embedded derivatives, fair value	6,192	4,169
Total derivative liabilities, including embedded derivatives, fair value	$ 13,038	$ 11,003
Derivatives not designated as hedges | Foreign currency swaps
Derivative [Line Items]
Notional Amount	1,510	35
Derivative assets, fair value	$ 96	$ 2
Gross amount recognized	$ 0	$ 1
Derivatives not designated as hedges | Foreign currency forwards
Derivative [Line Items]
Notional Amount	3,595	1,924
Derivative assets, fair value	$ 17	$ 7
Gross amount recognized	$ 44	$ 16
Derivatives not designated as hedges | Equity options
Derivative [Line Items]
Notional Amount	53,666	49,549
Derivative assets, fair value	$ 3,209	$ 2,746
Gross amount recognized	$ 22	$ 5
Derivatives not designated as hedges | Futures
Derivative [Line Items]
Notional Amount	24	8
Derivative assets, fair value	$ 58	$ 10
Gross amount recognized	$ 2	$ 1
Derivatives not designated as hedges | Total return swaps
Derivative [Line Items]
Notional Amount	97	106
Derivative assets, fair value	$ 6	$ 6
Gross amount recognized	$ 0	$ 0
Derivatives not designated as hedges | Interest rate swaps
Derivative [Line Items]
Notional Amount	803	776
Derivative assets, fair value	$ 0	$ 3
Gross amount recognized	$ 34	$ 4
Derivatives not designated as hedges | Credit default swaps
Derivative [Line Items]
Notional Amount	10	10
Derivative assets, fair value	$ 0	$ 0
Gross amount recognized	4	3
Derivatives not designated as hedges | Embedded derivatives | Funds withheld including related party
Derivative [Line Items]
Funds withheld at interest	2,806	1,395
Funds withheld liability	59	31
Derivatives not designated as hedges | Embedded derivatives | Interest sensitive contract liabilities
Derivative [Line Items]
Embedded derivative assets, fair value	0	0
Embedded derivative liabilities, fair value	$ 12,873	$ 10,942

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Gains (losses) on foreign currency forwards on net investments	$ 2,270,000,000	$ 3,468,000,000	$ (2,310,000,000)
Net investment hedge loss	0	(2,000,000)
Amount deemed ineffective	0	0	0
Additional collateral	0	0
Cash flow hedges | Derivatives designated as hedges | Foreign currency swaps
Derivative [Line Items]
Foreign currency swap gains (losses)	(106,000,000)	29,000,000	146,000,000
Foreign currency swap gain (loss) reclassified to income	0	0	0
Gain (loss) on cash flow hedge ineffectiveness	0	0	0
Expected to be reclassified to income	0
Fair Value Hedging | Derivatives designated as hedges | Foreign currency forwards on net investments
Derivative [Line Items]
Gains (losses) on foreign currency forwards on net investments	$ 2,000,000	$ (2,000,000)	$ 0

Derivative Instruments - Cumula

Derivative Instruments - Cumulative Fair Value of Hedge Adjustments (Details) - Foreign currency forwards - Fair Value Hedging - Derivatives designated as hedges $ in Millions	Dec. 31, 2020USD ($)
AFS securities
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	$ 1,932
Cumulative amount of fair value hedging gains (losses), AFS securities	117
Interest sensitive contract liabilities
Derivative [Line Items]
Carrying amount of the hedged assets or liabilities	65
Cumulative amount of fair value hedging gains (losses), Interest sensitive contract liabilities	$ (1)

Derivative Instruments - Gains

Derivative Instruments - Gains (Losses) Related to Derivative and Hedge Items (Details) - Foreign currency forwards - Fair Value Hedging - Derivatives designated as hedges - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investment related gains (losses)
Derivative [Line Items]
Derivatives	$ (118)	$ 2	$ (1)
Hedged Items	116	0	1
Net	(2)	$ 2	$ 0
Interest sensitive contract liabilities
Derivative [Line Items]
Derivatives	1
Hedged Items	(1)
Net	$ 0

Derivative Instruments - Gain_2

Derivative Instruments - Gains (Losses) Related to Derivatives Not Designated as Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	$ 2,164	$ 1,917	$ (176)
Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	3,548	4,443	(1,099)
Equity options | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	819	2,169	(877)
Futures | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	123	(13)	2
Swaps | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	82	43	(8)
Foreign currency forwards | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	(127)	(2)	16
Embedded derivatives | Investment related gains (losses)
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	2,651	2,246	(232)
Embedded derivatives | Interest sensitive contract liabilities
Derivative [Line Items]
Total gains (losses) on derivatives not designated as hedges	$ (1,384)	$ (2,526)	$ 923

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Net Derivative and Other Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative assets
Gross amount recognized	$ 3,523	$ 2,888
Financial instruments	(165)	(67)
Collateral received/pledged	(3,196)	(2,743)
Net amount	162	78
Off-balance sheet securities collateral	(46)	(145)
Net amount after securities collateral	(116)	(67)
Derivative liabilities
Derivative Liability	(298)	(97)
Financial instruments	165	67
Collateral received/pledged	144	31
Net amount	11	1
Off-balance sheet securities collateral	0	0
Net amount after securities collateral	$ 11	$ 1

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Exposure to Credit-Related Events (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivative liabilities with credit related provisions	$ 4	$ 3
Maximum exposure for credit default swaps	$ 10	$ 10

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Fair Value	$ 89,373	$ 75,178
Mortgage loans	15,938	14,959
Investment funds	6,087	4,300
Derivative assets, fair value	3,523	2,888
Restricted Cash and Cash Equivalents	738	402
Reinsurance recoverable	4,848	4,863
Liabilities
Interest sensitive contract liabilities	144,566	102,745
Future policy benefits	29,258	23,330
Derivative liabilities	298	97
Funds withheld liability	452	408
Related Party
Assets
Fair Value	6,520	3,804
Trading securities	1,529	785
Equity securities	72	64
Mortgage loans	674	653
Investment funds	5,284	3,550
Investment funds	2,119	819
Funds withheld at interest	13,030	13,220
Other investments	469	487
Liabilities
Interest sensitive contract liabilities	14,150	15,285
Future policy benefits	1,610	1,302
Corporate | Related Party
Assets
Fair Value	215	19
CLO | Related Party
Assets
Fair Value	1,520	936
ABS | Related Party
Assets
Fair Value	4,785	2,849
Level 3
Assets
Fair Value	5,858	1,289
Recurring | Level 1
Assets
Cash and cash equivalents	7,704	4,240
Restricted Cash and Cash Equivalents	738	402
Reinsurance recoverable	0	0
Total assets not carried at fair value	9,038	4,785
Liabilities
Derivative liabilities	2	1
Total liabilities measured at fair value	2	1
Recurring | Level 1 | Related Party
Assets
Fair Value	0	0
Trading securities	0	0
Equity securities	0	0
Investment funds	0	0
Recurring | Level 1 | Universal life
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 1 | AmerUs Closed Block
Liabilities
Future policy benefits	0	0
Recurring | Level 1 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	0	0
Recurring | Level 1 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	0	0
Funds withheld liability	0	0
Recurring | Level 1 | Embedded derivatives | Related Party
Assets
Funds withheld at interest	0	0
Recurring | Level 1 | Corporate | Related Party
Assets
Fair Value	0	0
Recurring | Level 1 | CLO | Related Party
Assets
Fair Value	0	0
Trading securities	0	0
Recurring | Level 1 | ABS | Related Party
Assets
Fair Value	0	0
Trading securities	0	0
Recurring | Level 2
Assets
Cash and cash equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Reinsurance recoverable	0	0
Total assets not carried at fair value	88,786	76,027
Liabilities
Derivative liabilities	292	93
Total liabilities measured at fair value	351	124
Recurring | Level 2 | Related Party
Assets
Fair Value	2,216	1,480
Trading securities	4	36
Equity securities	0	0
Investment funds	0	0
Recurring | Level 2 | Universal life
Liabilities
Interest sensitive contract liabilities	0	0
Recurring | Level 2 | AmerUs Closed Block
Liabilities
Future policy benefits	0	0
Recurring | Level 2 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	0	0
Recurring | Level 2 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	0	0
Funds withheld liability	59	31
Recurring | Level 2 | Embedded derivatives | Related Party
Assets
Funds withheld at interest	0	0
Recurring | Level 2 | Corporate | Related Party
Assets
Fair Value	20	19
Recurring | Level 2 | CLO | Related Party
Assets
Fair Value	1,520	936
Trading securities	4	36
Recurring | Level 2 | ABS | Related Party
Assets
Fair Value	676	525
Trading securities	0	0
Recurring | Level 3
Assets
Cash and cash equivalents	0	0
Restricted Cash and Cash Equivalents	0	0
Reinsurance recoverable	2,100	1,821
Total assets not carried at fair value	14,840	8,958
Liabilities
Derivative liabilities	4	3
Total liabilities measured at fair value	16,561	14,296
Recurring | Level 3 | Related Party
Assets
Fair Value	4,304	2,324
Trading securities	1,525	749
Equity securities	72	64
Investment funds	2,033	132
Recurring | Level 3 | Universal life
Liabilities
Interest sensitive contract liabilities	1,308	1,050
Recurring | Level 3 | AmerUs Closed Block
Liabilities
Future policy benefits	1,600	1,546
Recurring | Level 3 | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	776	755
Recurring | Level 3 | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	12,873	10,942
Funds withheld liability	0	0
Recurring | Level 3 | Embedded derivatives | Related Party
Assets
Funds withheld at interest	862	594
Recurring | Level 3 | Corporate | Related Party
Assets
Fair Value	195	0
Recurring | Level 3 | CLO | Related Party
Assets
Fair Value	0	0
Trading securities	50	38
Recurring | Level 3 | ABS | Related Party
Assets
Fair Value	4,109	2,324
Trading securities	1,475	711
Recurring | NAV
Assets
Investment funds	230	819
Recurring | NAV | Related Party
Assets
Investment funds	86	687
Fair Value
Assets
Total assets not carried at fair value	80,487	46,902
Liabilities
Interest sensitive contract liabilities	98,945	58,027
Funds withheld liability	393	377
Fair Value | Related Party
Assets
Mortgage loans	694	641
Investment funds	3,165	2,731
Funds withheld at interest	12,168	12,626
Other investments	499	537
Fair Value | Level 1
Assets
Total assets not carried at fair value	0	0
Liabilities
Interest sensitive contract liabilities	0	0
Funds withheld liability	0	0
Fair Value | Level 1 | Related Party
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Fair Value | Level 2
Assets
Total assets not carried at fair value	369	417
Liabilities
Interest sensitive contract liabilities	0	0
Funds withheld liability	393	377
Fair Value | Level 2 | Related Party
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Fair Value | Level 3
Assets
Total assets not carried at fair value	76,311	43,158
Liabilities
Interest sensitive contract liabilities	98,945	58,027
Funds withheld liability	0	0
Fair Value | Level 3 | Related Party
Assets
Mortgage loans	694	641
Investment funds	0	0
Funds withheld at interest	12,168	12,626
Other investments	499	537
Fair Value | NAV
Assets
Total assets not carried at fair value	3,807	3,327
Fair Value | NAV | Related Party
Assets
Investment funds	3,165	2,731
Fair Value | Recurring
Assets
Cash and cash equivalents	7,704	4,240
Restricted Cash and Cash Equivalents	738	402
Reinsurance recoverable	2,100	1,821
Total assets not carried at fair value	112,894	90,589
Liabilities
Interest sensitive contract liabilities	14,181	11,992
Future policy benefits	2,376	2,301
Derivative liabilities	298	97
Funds withheld liability	59	31
Total liabilities measured at fair value	16,914	14,421
Fair Value | Recurring | Related Party
Assets
Fair Value	6,520	3,804
Trading securities	1,529	785
Equity securities	72	64
Investment funds	2,119	819
Funds withheld at interest	862	594
Fair Value | Recurring | Universal life
Liabilities
Interest sensitive contract liabilities	1,308	1,050
Fair Value | Recurring | AmerUs Closed Block
Liabilities
Future policy benefits	1,600	1,546
Fair Value | Recurring | ILICO Closed Block and life benefits
Liabilities
Future policy benefits	776	755
Fair Value | Recurring | Embedded derivatives
Liabilities
Interest sensitive contract liabilities	12,873	10,942
Funds withheld liability	59	31
Fair Value | Recurring | Embedded derivatives | Related Party
Assets
Funds withheld at interest	862	594
Fair Value | Recurring | Corporate | Related Party
Assets
Fair Value	215	19
Fair Value | Recurring | CLO | Related Party
Assets
Fair Value	1,520	936
Trading securities	54	74
Fair Value | Recurring | ABS | Related Party
Assets
Fair Value	4,785	2,849
Trading securities	1,475	711
Investments, excluding investments in related party
Assets
Fair Value	82,853	71,374
Trading securities	2,093	2,070
Mortgage loans	15,264	14,306
Investment funds	803	750
Investment funds	161	154
Funds withheld at interest	48,612	15,181
Derivative assets, fair value	3,523	2,888
Short-term investments	222	596
Other investments	572	158
Investments, excluding investments in related party | U.S. government and agencies
Assets
Fair Value	351	36
Investments, excluding investments in related party | US state, municipal and political subdivisions
Assets
Fair Value	1,033	1,541
Investments, excluding investments in related party | Foreign governments
Assets
Fair Value	368	327
Investments, excluding investments in related party | Corporate
Assets
Fair Value	58,180	47,228
Investments, excluding investments in related party | CLO
Assets
Fair Value	9,569	7,349
Investments, excluding investments in related party | ABS
Assets
Fair Value	4,270	5,118
Investments, excluding investments in related party | CMBS
Assets
Fair Value	2,169	2,400
Investments, excluding investments in related party | RMBS
Assets
Fair Value	6,913	7,375
Investments, excluding investments in related party | Recurring | Level 1
Assets
Fair Value	332	36
Trading securities	3	8
Equity securities	57	43
Mortgage loans	0	0
Investment funds	0	0
Derivative assets, fair value	58	10
Short-term investments	146	46
Other investments	0	0
Investments, excluding investments in related party | Recurring | Level 1 | Embedded derivatives
Assets
Funds withheld at interest	0	0
Investments, excluding investments in related party | Recurring | Level 1 | U.S. government and agencies
Assets
Fair Value	332	36
Trading securities	3	8
Investments, excluding investments in related party | Recurring | Level 1 | US state, municipal and political subdivisions
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 1 | Foreign governments
Assets
Fair Value	0	0
Investments, excluding investments in related party | Recurring | Level 1 | Corporate
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 1 | CLO
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 1 | ABS
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 1 | CMBS
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 1 | RMBS
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 2
Assets
Fair Value	80,656	69,032
Trading securities	2,004	1,988
Equity securities	262	201
Mortgage loans	0	0
Investment funds	0	0
Derivative assets, fair value	3,465	2,878
Short-term investments	74	319
Other investments	105	93
Investments, excluding investments in related party | Recurring | Level 2 | Embedded derivatives
Assets
Funds withheld at interest	0	0
Investments, excluding investments in related party | Recurring | Level 2 | U.S. government and agencies
Assets
Fair Value	19	0
Trading securities	3	3
Investments, excluding investments in related party | Recurring | Level 2 | US state, municipal and political subdivisions
Assets
Fair Value	999	1,501
Trading securities	106	135
Investments, excluding investments in related party | Recurring | Level 2 | Foreign governments
Assets
Fair Value	366	327
Investments, excluding investments in related party | Recurring | Level 2 | Corporate
Assets
Fair Value	57,402	46,503
Trading securities	1,577	1,456
Investments, excluding investments in related party | Recurring | Level 2 | CLO
Assets
Fair Value	9,361	7,228
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 2 | ABS
Assets
Fair Value	3,470	3,744
Trading securities	93	92
Investments, excluding investments in related party | Recurring | Level 2 | CMBS
Assets
Fair Value	2,126	2,354
Trading securities	52	51
Investments, excluding investments in related party | Recurring | Level 2 | RMBS
Assets
Fair Value	6,913	7,375
Trading securities	173	251
Investments, excluding investments in related party | Recurring | Level 3
Assets
Fair Value	1,865	2,306
Trading securities	86	74
Equity securities	11	3
Mortgage loans	19	27
Investment funds	17	22
Derivative assets, fair value	0	0
Short-term investments	2	41
Other investments	0	0
Investments, excluding investments in related party | Recurring | Level 3 | Embedded derivatives
Assets
Funds withheld at interest	1,944	801
Investments, excluding investments in related party | Recurring | Level 3 | U.S. government and agencies
Assets
Fair Value	0	0
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 3 | US state, municipal and political subdivisions
Assets
Fair Value	34	40
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 3 | Foreign governments
Assets
Fair Value	2	0
Investments, excluding investments in related party | Recurring | Level 3 | Corporate
Assets
Fair Value	778	725
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 3 | CLO
Assets
Fair Value	208	121
Trading securities	4	6
Investments, excluding investments in related party | Recurring | Level 3 | ABS
Assets
Fair Value	800	1,374
Trading securities	35	16
Investments, excluding investments in related party | Recurring | Level 3 | CMBS
Assets
Fair Value	43	46
Trading securities	0	0
Investments, excluding investments in related party | Recurring | Level 3 | RMBS
Assets
Fair Value	0	0
Trading securities	47	52
Investments, excluding investments in related party | Recurring | NAV
Assets
Investment funds	144	132
Investments, excluding investments in related party | Fair Value
Assets
Mortgage loans	15,811	14,719
Investment funds	642	596
Funds withheld at interest	46,668	14,380
Short-term investments		190
Other investments	471	65
Investments, excluding investments in related party | Fair Value | Level 1
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments		0
Other investments	0	0
Investments, excluding investments in related party | Fair Value | Level 2
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Short-term investments		0
Other investments	0	0
Investments, excluding investments in related party | Fair Value | Level 3
Assets
Mortgage loans	15,811	14,719
Investment funds	0	0
Funds withheld at interest	46,668	14,380
Short-term investments		190
Other investments	471	65
Investments, excluding investments in related party | Fair Value | NAV
Assets
Investment funds	642	596
Investments, excluding investments in related party | Fair Value | Recurring
Assets
Fair Value	82,853	71,374
Trading securities	2,093	2,070
Equity securities	330	247
Mortgage loans	19	27
Investment funds	161	154
Funds withheld at interest	1,944	801
Derivative assets, fair value	3,523	2,888
Short-term investments	222	406
Other investments	105	93
Investments, excluding investments in related party | Fair Value | Recurring | Embedded derivatives
Assets
Funds withheld at interest	1,944	801
Investments, excluding investments in related party | Fair Value | Recurring | U.S. government and agencies
Assets
Fair Value	351	36
Trading securities	6	11
Investments, excluding investments in related party | Fair Value | Recurring | US state, municipal and political subdivisions
Assets
Fair Value	1,033	1,541
Trading securities	106	135
Investments, excluding investments in related party | Fair Value | Recurring | Foreign governments
Assets
Fair Value	368	327
Investments, excluding investments in related party | Fair Value | Recurring | Corporate
Assets
Fair Value	58,180	47,228
Trading securities	1,577	1,456
Investments, excluding investments in related party | Fair Value | Recurring | CLO
Assets
Fair Value	9,569	7,349
Trading securities	4	6
Investments, excluding investments in related party | Fair Value | Recurring | ABS
Assets
Fair Value	4,270	5,118
Trading securities	128	108
Investments, excluding investments in related party | Fair Value | Recurring | CMBS
Assets
Fair Value	2,169	2,400
Trading securities	52	51
Investments, excluding investments in related party | Fair Value | Recurring | RMBS
Assets
Fair Value	6,913	7,375
Trading securities	$ 220	$ 303

Fair Value - Fair Value Option

Fair Value - Fair Value Option (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ 274	$ 45	$ (35)
Mortgage loans
Fair Value, Option, Quantitative Disclosures [Line Items]
Unpaid principal balance	17	25
Mark to fair value	2	2
Fair value	19	27
Investment Income [Member] | Investment funds
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	295	(3)	37
Investment related gains (losses) | Trading securities
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	33	151	(254)
Future policy benefits | Insurance Contract, Rights and Obligations [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Total gains (losses)	$ (54)	$ (103)	$ 182

Fair Value - Reconciliation of

Fair Value - Reconciliation of Level 3 Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 8,958	$ 5,528
Total realized and unrealized gains (losses) included in income	2,000	1,580
Total realized and unrealized gains (losses), Included in OCI	(11)	78
Purchases, (Sales), Issuances, (Settlements)	4,295	2,490
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(402)	(718)
Transfers (Out)	(509)	(907)
Ending Balance	14,840	8,958
Total gains (losses) included in earnings	100	7
Beginning Balance	(14,296)	(11,078)
Total realized and unrealized gains (losses), Included in income	(1,718)	(2,771)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	(547)	(447)
Transfers (Out)	0	0
Ending Balance	(16,561)	(14,296)
Total gains (losses) included in earnings	(1)	1
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(9)
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Equity securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	3	3
Total realized and unrealized gains (losses) included in income	3	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	5	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0
Ending Balance	11	3
Total gains (losses) included in earnings	3	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Equity securities | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	64	133
Total realized and unrealized gains (losses) included in income	1	(2)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	12	(67)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(5)	0
Transfers (Out)	(5)	0
Ending Balance	72	64
Total gains (losses) included in earnings	1	(1)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
US state, municipal and political subdivisions | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	40	0
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	(6)	40
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Ending Balance	34	40
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Foreign governments | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0
Total realized and unrealized gains (losses) included in income	0
Total realized and unrealized gains (losses), Included in OCI	0
Purchases, (Sales), Issuances, (Settlements)	2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Transfers (Out)	0
Ending Balance	2	0
Total gains (losses) included in earnings	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Corporate | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	725	898
Total realized and unrealized gains (losses) included in income	10	14
Total realized and unrealized gains (losses), Included in OCI	5	12
Purchases, (Sales), Issuances, (Settlements)	10	(61)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	28	(138)
Transfers (Out)	(41)	(143)
Ending Balance	778	725
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	5
Corporate | AFS securities | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0
Total realized and unrealized gains (losses) included in income	0
Total realized and unrealized gains (losses), Included in OCI	0
Purchases, (Sales), Issuances, (Settlements)	195
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Transfers (Out)	0
Ending Balance	195	0
Total gains (losses) included in earnings	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
CLO | Trading securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	6	1
Total realized and unrealized gains (losses) included in income	(2)	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	5
Transfers (Out)		0
Ending Balance	4	6
Total gains (losses) included in earnings	0	6
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
CLO | Trading securities | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	38	113
Total realized and unrealized gains (losses) included in income	(13)	(7)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	14	(49)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	11	(19)
Transfers (Out)	(4)	(36)
Ending Balance	50	38
Total gains (losses) included in earnings	(9)	3
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
CLO | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	121	107
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses), Included in OCI	0	3
Purchases, (Sales), Issuances, (Settlements)	109	50
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(22)	(39)
Transfers (Out)	(22)	(39)
Ending Balance	208	121
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
ABS | Trading securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	16	0
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	19	(9)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	25
Transfers (Out)	0	0
Ending Balance	35	16
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
ABS | Trading securities | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	711	149
Total realized and unrealized gains (losses) included in income	(13)	(14)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	777	473
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	103
Transfers (Out)	0	0
Ending Balance	1,475	711
Total gains (losses) included in earnings	(14)	(6)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
ABS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,374	1,615
Total realized and unrealized gains (losses) included in income	20	7
Total realized and unrealized gains (losses), Included in OCI	(48)	32
Purchases, (Sales), Issuances, (Settlements)	(282)	120
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(264)	(400)
Transfers (Out)	(271)	(430)
Ending Balance	800	1,374
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(47)
ABS | AFS securities | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	2,324	328
Total realized and unrealized gains (losses) included in income	24	2
Total realized and unrealized gains (losses), Included in OCI	37	22
Purchases, (Sales), Issuances, (Settlements)	1,889	2,076
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(165)	(104)
Transfers (Out)	(165)	(104)
Ending Balance	4,109	2,324
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	37
CMBS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	46	187
Total realized and unrealized gains (losses) included in income	(4)	2
Total realized and unrealized gains (losses), Included in OCI	(5)	7
Purchases, (Sales), Issuances, (Settlements)	(5)	(131)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	11	(19)
Transfers (Out)	0	(19)
Ending Balance	43	46
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	(4)
RMBS | Trading securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	52	134
Total realized and unrealized gains (losses) included in income	(9)	(21)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	10
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	4	(71)
Transfers (Out)	(1)	(75)
Ending Balance	47	52
Total gains (losses) included in earnings	2	1
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
RMBS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	0	56
Total realized and unrealized gains (losses) included in income		2
Total realized and unrealized gains (losses), Included in OCI		2
Purchases, (Sales), Issuances, (Settlements)		(13)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(47)
Transfers (Out)		(47)
Ending Balance		0
Total gains (losses) included in earnings		0
Investment funds | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	22	29
Total realized and unrealized gains (losses) included in income	(5)	(3)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	(4)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)		0
Ending Balance	17	22
Total gains (losses) included in earnings	(5)	(3)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Investment funds | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	132	120
Total realized and unrealized gains (losses) included in income	298	7
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	1,603	19
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(14)
Transfers (Out)	0	(14)
Ending Balance	2,033	132
Total gains (losses) included in earnings	122	7
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Mortgage loans | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	27	32
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	(8)	(5)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Transfers (Out)	0	0
Ending Balance	19	27
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Reinsurance recoverable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	1,821	1,676
Total realized and unrealized gains (losses) included in income	279	145
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending Balance	2,100	1,821
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Short-term Investments | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	41	0
Total realized and unrealized gains (losses) included in income	0	0
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	(39)	41
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending Balance	2	41
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Embedded derivatives | Funds withheld at interest | Investments, excluding investments in related party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	801	57
Total realized and unrealized gains (losses) included in income	1,143	744
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending Balance	1,944	801
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Embedded derivatives | Funds withheld at interest | Related Party
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	594	(110)
Total realized and unrealized gains (losses) included in income	268	704
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Ending Balance	862	594
Total gains (losses) included in earnings	0	0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Interest sensitive contract liabilities | Universal life
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(1,050)	(932)
Total realized and unrealized gains (losses), Included in income	(258)	(118)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0
Ending Balance	(1,308)	(1,050)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Interest sensitive contract liabilities | Embedded derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(10,942)	(7,969)
Total realized and unrealized gains (losses), Included in income	(1,384)	(2,526)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	(547)	(447)
Transfers (Out)	0	0
Ending Balance	(12,873)	(10,942)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Future policy benefits | AmerUs Closed Block
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(1,546)	(1,443)
Total realized and unrealized gains (losses), Included in income	(54)	(103)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0
Ending Balance	(1,600)	(1,546)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Future policy benefits | ILICO Closed Block and life benefits
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(755)	(730)
Total realized and unrealized gains (losses), Included in income	(21)	(25)
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0
Ending Balance	(776)	(755)
Total gains (losses) included in earnings	0	0
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Derivative liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(3)	(4)
Total realized and unrealized gains (losses), Included in income	(1)	1
Total realized and unrealized gains (losses), Included in OCI	0	0
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0
Ending Balance	(4)	(3)
Total gains (losses) included in earnings	(1)	1
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), OCI	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	$ 0	$ 0

Fair Value - Gross Components o

Fair Value - Gross Components of Purchases, Sales, Issuances and Settlements, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	$ 5,377	$ 3,557
Sales	(145)	(247)
Settlements	(937)	(820)
Purchases, (Sales), Issuances, (Settlements)	4,295	2,490
Purchases	0	0
Issuances	(1,188)	(937)
Sales	0	0
Settlements	641	490
Purchases, (Sales), Issuances, (Settlements), Liabilities	(547)	(447)
Transfer In	(107)	(189)
Transfers (Out)	(509)	(907)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(402)	(718)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Transfers In	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Equity securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	11
Sales	0
Settlements	(6)
Purchases, (Sales), Issuances, (Settlements)	5	0
Transfer In	0
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0
Equity securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	18	75
Sales	(1)	(5)
Settlements	(5)	(137)
Purchases, (Sales), Issuances, (Settlements)	12	(67)
Transfer In	0	0
Transfers (Out)	(5)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(5)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Short-term Investments | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	3	74
Sales	(7)	0
Settlements	(35)	(33)
Purchases, (Sales), Issuances, (Settlements)	(39)	41
Transfer In	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
US state, municipal and political subdivisions | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	40
Sales	(5)	0
Settlements	(1)	0
Purchases, (Sales), Issuances, (Settlements)	(6)	40
Transfer In	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Foreign governments | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	2
Sales	0
Settlements	0
Purchases, (Sales), Issuances, (Settlements)	2
Transfer In	0
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0
Corporate | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	177	116
Sales	0	(3)
Settlements	(167)	(174)
Purchases, (Sales), Issuances, (Settlements)	10	(61)
Transfer In	(69)	(5)
Transfers (Out)	(41)	(143)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	28	(138)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Corporate | AFS securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	195
Sales	0
Settlements	0
Purchases, (Sales), Issuances, (Settlements)	195
Transfer In	0
Transfers (Out)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0
CLO | Trading securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		0
Sales		0
Settlements		0
Purchases, (Sales), Issuances, (Settlements)	0	0
Transfer In		(5)
Transfers (Out)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances		0
CLO | Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	27	0
Sales	(13)	(49)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	14	(49)
Transfer In	(15)	(17)
Transfers (Out)	(4)	(36)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	11	(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
CLO | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	145	94
Sales	(8)	0
Settlements	(28)	(44)
Purchases, (Sales), Issuances, (Settlements)	109	50
Transfer In	0	0
Transfers (Out)	(22)	(39)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(22)	(39)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
ABS | Trading securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	35	0
Sales	(16)	(9)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	19	(9)
Transfer In	0	(25)
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	25
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
ABS | Trading securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	802	511
Sales	(11)	0
Settlements	(14)	(38)
Purchases, (Sales), Issuances, (Settlements)	777	473
Transfer In	0	(103)
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	103
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
ABS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	128	409
Sales	0	(172)
Settlements	(410)	(117)
Purchases, (Sales), Issuances, (Settlements)	(282)	120
Transfer In	(7)	(30)
Transfers (Out)	(271)	(430)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(264)	(400)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
ABS | AFS securities | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	2,156	2,207
Sales	(5)	0
Settlements	(262)	(131)
Purchases, (Sales), Issuances, (Settlements)	1,889	2,076
Transfer In	0	0
Transfers (Out)	(165)	(104)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	(165)	(104)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
RMBS | Trading securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	10
Sales	0	0
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	0	10
Transfer In	(5)	(4)
Transfers (Out)	(1)	(75)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	4	(71)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
RMBS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		1
Sales		0
Settlements		(14)
Purchases, (Sales), Issuances, (Settlements)		(13)
Transfer In		0
Transfers (Out)		(47)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net		(47)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances		0
CMBS | AFS securities | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Sales	(4)	(4)
Settlements	(1)	(127)
Purchases, (Sales), Issuances, (Settlements)	(5)	(131)
Transfer In	(11)	0
Transfers (Out)	0	(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	11	(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Mortgage loans | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Sales	0	0
Settlements	(8)	(5)
Purchases, (Sales), Issuances, (Settlements)	(8)	(5)
Transfer In	0	0
Transfers (Out)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Reinsurance recoverable
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Investment funds | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases		0
Sales		(4)
Settlements		0
Purchases, (Sales), Issuances, (Settlements)	0	(4)
Transfer In		0
Transfers (Out)		0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances		0
Investment funds | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	1,678	20
Sales	(75)	(1)
Settlements	0	0
Purchases, (Sales), Issuances, (Settlements)	1,603	19
Transfer In	0	0
Transfers (Out)	0	(14)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	(14)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Issuances	0	0
Embedded derivatives | Funds withheld at interest | Investments, excluding investments in related party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Embedded derivatives | Funds withheld at interest | Related Party
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net	0	0
Interest sensitive contract liabilities | Embedded derivatives
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases	0	0
Issuances	(1,188)	(937)
Sales	0	0
Settlements	641	490
Purchases, (Sales), Issuances, (Settlements), Liabilities	(547)	(447)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	0	0
Transfers In	0	0
Transfers (Out)	0	0
Derivative liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Purchases, (Sales), Issuances, (Settlements), Liabilities	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net	$ 0	$ 0

Fair Value - Summary of Unobser

Fair Value - Summary of Unobservable Inputs for the Embedded Derivatives of Interest Sensitive Contract Liabilities (Details) $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair Value Unobservable Inputs
Fair Value	$ 89,373	$ 75,178
Level 3
Fair Value Unobservable Inputs
Fair Value	5,858	1,289
Interest sensitive contract liabilities | Embedded derivatives | Level 3
Fair Value Unobservable Inputs
Total liabilities measured at fair value	$ 12,873	$ 10,942
Measurement Input, Entity Credit Risk [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0	0.002
Measurement Input, Entity Credit Risk [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.011	0.011
Measurement Input, Entity Credit Risk [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.005	0.006
Measurement Input, Option Volatility [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.006	0.007
Measurement Input, Option Volatility [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.035	0.037
Measurement Input, Option Volatility [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.019	0.019
Measurement Input, Withdrawal Rate [Member] | Minimum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.053	0.035
Measurement Input, Withdrawal Rate [Member] | Maximum
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.095	0.081
Measurement Input, Withdrawal Rate [Member] | Weighted Average
Fair Value Unobservable Inputs
Embedded Derivative Liability, Measurement Input	0.071	0.071
Discount rate | Minimum
Fair Value Unobservable Inputs
Debt Securities, Available-for-sale, Measurement Input	0.017	0.030
Discount rate | Maximum
Fair Value Unobservable Inputs
Debt Securities, Available-for-sale, Measurement Input	0.350	0.090
Discount rate | Weighted Average
Fair Value Unobservable Inputs
Debt Securities, Available-for-sale, Measurement Input	0.046	0.066

Fair Value - Equity Securities

Fair Value - Equity Securities Without a Readily Determinable Fair Value (Details)	Dec. 31, 2020USD ($)
Fair Value Disclosures [Abstract]
Equity Securities without Readily Determinable Fair Value, Amount	$ 202,000,000
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Cumulative Amount	$ 231,000,000

Fair Value - Financial Instrume

Fair Value - Financial Instruments Not Carried at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets
Mortgage loans	$ 15,938	$ 14,959
Investment funds	6,087	4,300
Liabilities
Interest sensitive contract liabilities	144,566	102,745
Short-term Debt	0	475
Long-term Debt	1,976	992
Funds withheld liability	452	408
Investments, excluding investments in related party
Assets
Mortgage loans	15,264	14,306
Investment funds	803	750
Policy loans	369	417
Funds withheld at interest	48,612	15,181
Other investments	572	158
Short-term investments	222	596
Carrying Value
Assets
Total assets not carried at fair value	79,867	46,424
Liabilities
Interest sensitive contract liabilities	94,685	57,272
Short-term Debt		475
Long-term Debt	1,976	992
Payables for collateral on derivatives and securities to repurchase	598	512
Funds withheld liability	393	377
Total liabilities not carried at fair value	97,652	59,628
Carrying Value | Investments, excluding investments in related party
Assets
Mortgage loans	15,245	14,279
Investment funds	642	596
Policy loans	369	417
Funds withheld at interest	46,668	14,380
Other investments	467	65
Short-term investments		190
Fair Value
Assets
Total assets not carried at fair value	80,487	46,902
Liabilities
Interest sensitive contract liabilities	98,945	58,027
Short-term Debt		475
Long-term Debt	2,259	1,036
Payables for collateral on derivatives and securities to repurchase	598	512
Funds withheld liability	393	377
Total liabilities not carried at fair value	102,195	60,427
Fair Value | Investments, excluding investments in related party
Assets
Mortgage loans	15,811	14,719
Investment funds	642	596
Policy loans	369	417
Funds withheld at interest	46,668	14,380
Other investments	471	65
Short-term investments		190
NAV | Fair Value
Assets
Total assets not carried at fair value	3,807	3,327
NAV | Fair Value | Investments, excluding investments in related party
Assets
Investment funds	642	596
Level 1 | Fair Value
Assets
Total assets not carried at fair value	0	0
Liabilities
Interest sensitive contract liabilities	0	0
Short-term Debt		0
Long-term Debt	0	0
Payables for collateral on derivatives and securities to repurchase	0	0
Funds withheld liability	0	0
Total liabilities not carried at fair value	0	0
Level 1 | Fair Value | Investments, excluding investments in related party
Assets
Mortgage loans	0	0
Investment funds	0	0
Policy loans	0	0
Funds withheld at interest	0	0
Other investments	0	0
Short-term investments		0
Level 2 | Fair Value
Assets
Total assets not carried at fair value	369	417
Liabilities
Interest sensitive contract liabilities	0	0
Short-term Debt		475
Long-term Debt	2,259	1,036
Payables for collateral on derivatives and securities to repurchase	598	512
Funds withheld liability	393	377
Total liabilities not carried at fair value	3,250	2,400
Level 2 | Fair Value | Investments, excluding investments in related party
Assets
Mortgage loans	0	0
Investment funds	0	0
Policy loans	369	417
Funds withheld at interest	0	0
Other investments	0	0
Short-term investments		0
Level 3 | Fair Value
Assets
Total assets not carried at fair value	76,311	43,158
Liabilities
Interest sensitive contract liabilities	98,945	58,027
Short-term Debt		0
Long-term Debt	0	0
Payables for collateral on derivatives and securities to repurchase	0	0
Funds withheld liability	0	0
Total liabilities not carried at fair value	98,945	58,027
Level 3 | Fair Value | Investments, excluding investments in related party
Assets
Mortgage loans	15,811	14,719
Investment funds	0	0
Policy loans	0	0
Funds withheld at interest	46,668	14,380
Other investments	471	65
Short-term investments		190
Related Party
Assets
Mortgage loans	674	653
Investment funds	5,284	3,550
Funds withheld at interest	13,030	13,220
Other investments	469	487
Liabilities
Interest sensitive contract liabilities	14,150	15,285
Related Party | Carrying Value
Assets
Mortgage loans	674	653
Investment funds	3,165	2,731
Funds withheld at interest	12,168	12,626
Other investments	469	487
Related Party | Fair Value
Assets
Mortgage loans	694	641
Investment funds	3,165	2,731
Funds withheld at interest	12,168	12,626
Other investments	499	537
Related Party | NAV | Fair Value
Assets
Investment funds	3,165	2,731
Related Party | Level 1 | Fair Value
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Related Party | Level 2 | Fair Value
Assets
Mortgage loans	0	0
Investment funds	0	0
Funds withheld at interest	0	0
Other investments	0	0
Related Party | Level 3 | Fair Value
Assets
Mortgage loans	694	641
Investment funds	0	0
Funds withheld at interest	12,168	12,626
Other investments	$ 499	$ 537

Fair Value - Narrative (Details

Fair Value - Narrative (Details)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Mortgage loans
Fair Value Measurement Inputs
Fair value option, loans, 90 days or more past due	$ 0	$ 0
Discount rate | Minimum
Fair Value Measurement Inputs
Debt Securities, Available-for-sale, Measurement Input	0.017	0.030
Discount rate | Maximum
Fair Value Measurement Inputs
Debt Securities, Available-for-sale, Measurement Input	0.350	0.090

Reinsurance Reinsurance - Premi

Reinsurance Reinsurance - Premiums and future policy benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Premiums
Direct	$ 5,691	$ 5,449	$ 2,813
Reinsurance assumed	413	1,092	1,066
Reinsurance ceded	(141)	(159)	(417)
Total premiums	5,963	6,382	3,462
Future policy and other policy benefits
Direct	7,016	6,697	3,739
Reinsurance assumed	522	1,223	1,093
Reinsurance ceded	(351)	(333)	(551)
Total future policy and other policy benefits	$ 7,187	$ 7,587	$ 4,281

Reinsurance - Narrative (Detail

Reinsurance - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jul. 01, 2020	Dec. 31, 2019
MassMutual
Effects of Reinsurance [Line Items]
Funds withheld at interest		$ 5,021
Protective
Effects of Reinsurance [Line Items]
Assets held-in-trust	$ 1,722		$ 1,640
Minimum
Effects of Reinsurance [Line Items]
Assets held-in-trust	6,538		8,377
Minimum | Global Atlantic
Effects of Reinsurance [Line Items]
Assets held-in-trust	$ 3,022		$ 3,478

Reinsurance Reinsurance - Trans

Reinsurance Reinsurance - Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effects of Reinsurance [Line Items]
Liabilities assumed	$ 182,631	$ 132,734
Less: Assets received	202,771	146,875
DAC	3,236	3,274	$ 3,921	$ 1,375
Interest sensitive contract liabilities	144,566	102,745
Future policy benefits	(29,258)	(23,330)
Reinsurance agreement
Effects of Reinsurance [Line Items]
Liabilities assumed	27,439	791	27,238
Less: Assets received	28,805	818	26,255
Ceding commission paid	0	0	(660)
Net cost of reinsurance	(1,366)	(27)	1,643
DAC	0	0	1,777
Interest sensitive contract liabilities	1,366	0	69
Future policy benefits	$ 0	$ (27)	$ (65)

Reinsurance - Schedule of Novat

Reinsurance - Schedule of Novated Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Schedule of Novated Balances [Line Items]
Interest sensitive contract liabilities	$ 144,566	$ 102,745
Future policy benefits	29,258	23,330
Funds withheld liability	452	408
Reinsurance recoverable	4,848	4,863
Other assets (liabilities), net	1,249	1,005
Novation
Schedule of Novated Balances [Line Items]
Interest sensitive contract liabilities	148	407
Future policy benefits	52	305
Funds withheld liability	0	347
Investments, excluding policy loans	0	320
Policy loans	23	38
Reinsurance recoverable	177	674
Other assets (liabilities), net	$ 0	$ 27

Reinsurance - Ceded Credit Risk

Reinsurance - Ceded Credit Risk (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Ceded Credit Risk [Line Items]
Reinsurance recoverable	$ 4,848	$ 4,863
Global Atlantic
Ceded Credit Risk [Line Items]
Reinsurance recoverable	3,108	2,981
Protective
Ceded Credit Risk [Line Items]
Reinsurance recoverable	1,558	1,605
Other
Ceded Credit Risk [Line Items]
Reinsurance recoverable	$ 182	$ 277

Deferred Acquisition Costs, D_3

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired - Roll Forward of DAC, DSI, and VOBA (Details) - USD ($) $ in Millions	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
DAC
Beginning balance	$ 3,274	$ 3,274	$ 3,921	$ 1,375
Additions		633	645	2,481
Unlocking		(36)	(117)	21
Amortization		(414)	(749)	(108)
Impact of unrealized investment (gains) losses		(233)	(426)	152
Ending balance		3,236	3,274	3,921
DSI
Beginning balance	820	820	799	520
Additions		178	226	264
Unlocking		(13)	(9)	7
Amortization		53	65	61
Impact of unrealized investment (gains) losses		(80)	(131)	69
Ending balance		857	820	799
VOBA
Beginning balance	914	914	1,187	1,077
Additions		0	0	0
Unlocking		(11)	(24)	54
Amortization		(60)	(68)	(141)
Impact of unrealized investment (gains) losses		(35)	(181)	197
Ending balance		813	914	1,187
Total
Beginning balance	5,008	5,008	5,907	2,972
Additions		811	871	2,745
Unlocking		(60)	(150)	82
Amortization		(527)	(882)	(310)
Impact of unrealized investment (gains) losses		(348)	(738)	418
Ending balance		4,906	5,008	5,907
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
DAC	3,274	3,236	3,274	3,921
Deferred Sale Inducement Cost	820	857	820	799
Present Value of Future Insurance Profits, Net	914	813	914	1,187
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	5,008	4,906	5,907	5,907
Deferred Policy Acquisition Cost, Capitalization		633	645	2,481
Additions		178	226	264
Additions		0	0	0
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Additions		811	871	2,745
Unlocking		(36)	(117)	21
Unlocking		(13)	(9)	7
Unlocking		(11)	(24)	54
Unlocking		(60)	(150)	82
Deferred Policy Acquisition Cost, Amortization Expense, Other		414	749	108
Amortization		53	65	61
Present Value of Future Insurance Profits, Amortization Expense		60	68	141
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Amortization Expense Excluding Unlocking		527	882	310
Deferred Policy Acquisition Cost, Unrealized Investment Gain (Loss)		233	426	(152)
Deferred Sales Inducement Cost, Unrealized Gain (Loss) on Investment		80	131	(69)
Present Value of Future Insurance Profits, Unrealized Gain (Loss) on Investment		35	181	(197)
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Unrealized Investment Gains (Losses)		$ 348	$ 738	$ (418)
Accounting Standards Update 2016-13 [Member]
DAC
Adoption of accounting standard	12
DSI
Adoption of accounting standard	5
VOBA
Adoption of accounting standard	5
Total
Additions	22
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits, Additions	22
Adoption of accounting standard	12
Adoption of accounting standard	5
Adoption of accounting standard	$ 5

Deferred Acquisition Costs, D_4

Deferred Acquisition Costs, Deferred Sales Inducements, and Value of Business Acquired - Expected Amortization of VOBA (Details) $ in Millions	Dec. 31, 2020USD ($)
Insurance [Abstract]
2021	$ 86
2022	78
2023	73
2024	67
2025	$ 64

Closed Block - Schedule of Clos

Closed Block - Schedule of Closed Block Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Liabilities
Future policy benefits	$ 1,600	$ 1,546
Other policy claims and benefits	15	18
Dividends payable to policyholders	84	87
Total liabilities	1,699	1,651
Assets
Trading securities	1,431	1,353
Mortgage loans, net of allowances	19	27
Policy loans	124	139
Total investments	1,574	1,519
Cash and cash equivalents	35	30
Accrued investment income	44	44
Reinsurance recoverable	16	19
Other assets	2	9
Total assets	1,671	1,621
Maximum future earnings to be recognized from AmerUs Closed Block	$ 28	$ 30

Closed Block - Results of Opera

Closed Block - Results of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Premiums	$ 48	$ 54	$ 48
Net investment income	71	74	77
Investment related gains (losses)	99	147	(118)
Total revenues	218	275	7
Benefits and Expenses
Future policy and other policy benefits	177	234	(49)
Dividends to policyholders	38	36	36
Total benefits and expenses	215	270	(13)
Contribution from AmerUs Closed Block before income taxes	3	5	20
Income tax expense (benefit)	1	(1)	0
Contribution from AmerUs Closed Block, net of income taxes	$ 2	$ 6	$ 20

Debt - Credit Facility (Details

Debt - Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Borrowing capacity	$ 1,250
Maximum borrowing capacity	$ 1,750
Capitalization ratio	35.00%
Minimum consolidated net worth	$ 7,300
Outstanding line of credit	$ 0	$ 0
Commitment fee, percent	0.15%	0.15%
Minimum
Line of Credit Facility [Line Items]
Commitment fee, percent	0.10%
Maximum
Line of Credit Facility [Line Items]
Commitment fee, percent	0.30%

Debt - Senior Note Issuance (De

Debt - Senior Note Issuance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Interest Expense, Long-term Debt	$ 69	$ 42	$ 41
Senior Notes due 2028
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Jan. 12, 2018
Debt Instrument, Face Amount	$ 1,000	$ 1,000
Interest rate	4.125%	4.125%
Long-term Debt, Maturity Date	Jan. 12, 2028
Senior Notes due 2030
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Apr. 3, 2020
Debt Instrument, Face Amount	$ 500
Interest rate	6.15%
Long-term Debt, Maturity Date	Apr. 3, 2030
Senior Notes due 2031
Line of Credit Facility [Line Items]
Debt Instrument, Issuance Date	Oct. 8, 2020
Debt Instrument, Face Amount	$ 500
Interest rate	3.50%
Long-term Debt, Maturity Date	Jan. 15, 2031

Debt - Short-term debt (Details

Debt - Short-term debt (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Short-term Debt			$ 0	$ 475
Federal Home Loan Bank of Des Moines | Federal Home Loan Bank, Advances, Convertible Option
Short-term Debt [Line Items]
Increase (Decrease) in Loans from Federal Home Loan Banks	$ (400)
Federal Home Loan Bank of Des Moines | Federal Home Loan Bank Advances | Short-term Debt
Short-term Debt [Line Items]
Short-term Debt				$ 475
Repayments of Short-term Debt		$ 75

Equity - Schedule of Stock by C

Equity - Schedule of Stock by Class (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Dividends, Preferred Stock, Cash	$ 95	$ 36	$ 0
Class A
Class of Stock [Line Items]
Common stock outstanding (in shares)	191.5	143.2	162.4	142.4
Stock Issued During Period, Shares, New Issues	36	0.7	0.6
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited	(0.1)	(0.1)	0
Stock Repurchased During Period, Shares	(13.3)	(19.8)	(2.6)
Stock Issued During Period, Shares, Conversion of Convertible Securities	(25.4)	0	(22)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	0.3	0	0
Class B
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	25.4	25.4	47.4
Class B | Common stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(25.4)	0	(22)
Class M-1
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	3.3	3.4	3.4
Class M-1 | Warrant
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(3.1)	0	0
Class M-1 | Common stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(0.2)	(0.1)	0
Class M-2
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	0.8	0.8	0.9
Class M-2 | Warrant
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(0.8)	0	0
Class M-2 | Common stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	0	0	(0.1)
Class M-3
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	1	1	1.1
Class M-3 | Warrant
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(1)	0	0
Class M-3 | Common stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	0	0	(0.1)
Class M-4
Class of Stock [Line Items]
Common stock outstanding (in shares)	0	4	4.1	4.7
Stock Repurchased During Period, Shares	(0.3)	0	(0.1)
Class M-4 | Warrant
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	(3.6)	0	0
Class M-4 | Common stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	0.1	0.1	0.5
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 10, 2019
Dividends, Preferred Stock, Cash	$ 55	$ 31	$ 0
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Sep. 19, 2019
Dividends, Preferred Stock, Cash	$ 19	5	0
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 11, 2020
Dividends, Preferred Stock, Cash	$ 21	0	0
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Dec. 18, 2020
Dividends, Preferred Stock, Cash	$ 0	$ 0	$ 0

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 28, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Dividends, Preferred Stock, Cash		$ 95	$ 36	$ 0
Common Stock, Voting Rights, Maximum Voting Power for Single Shareholder		9.90%
Common Stock, Amount Authorized and Reserved for Future Issuance		$ 407
Class of Warrant or Right, Outstanding		8,400,000
Weighted Average
Class of Stock [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 18.27
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage		6.35%
Preferred Stock, Liquidation Preference Per Share		$ 25,000
Preferred Stock, Par or Stated Value Per Share		1	$ 1
Preferred Stock, Dividends, Per Share, Cash Paid		$ 1,587.51	$ 881.95	$ 0
Dividends, Preferred Stock, Cash		$ 55	$ 31	$ 0
Preferred Stock, Shares Issued		34,500	0
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage		5.625%
Preferred Stock, Liquidation Preference Per Share		$ 25,000
Preferred Stock, Par or Stated Value Per Share		1	$ 1
Preferred Stock, Dividends, Per Share, Cash Paid		$ 1,406.25	$ 394.53	$ 0
Dividends, Preferred Stock, Cash		$ 19	$ 5	$ 0
Preferred Stock, Shares Issued		13,800	0
Class B | Common stock
Class of Stock [Line Items]
Shares issued from conversion of securities (in shares)		25,400,000	0	22,000,000
Common Class M | Common stock
Class of Stock [Line Items]
Common Stock, Conversion Basis, Percentage Of Share Value Converted	5.00%
Common Class M | Warrant
Class of Stock [Line Items]
Common Stock, Conversion Basis, Percentage Of Share Value Converted	95.00%
Class A
Class of Stock [Line Items]
Shares issued from conversion of securities (in shares)		25,400,000	0	22,000,000
Stock Repurchase Program, Authorized Amount		$ 1,567
Stock Repurchased During Period, Shares		13,300,000	19,800,000	2,600,000
Stock Issued During Period, Shares, New Issues		36,000,000	700,000	600,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage		6.375%
Preferred Stock, Liquidation Preference Per Share		$ 25,000
Preferred Stock, Par or Stated Value Per Share		1
Preferred Stock, Dividends, Per Share, Cash Paid		$ 880.99	$ 0	$ 0
Dividends, Preferred Stock, Cash		$ 21	$ 0	$ 0
Preferred Stock, Shares Issued		24,000
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage		4.875%
Preferred Stock, Liquidation Preference Per Share		$ 25,000
Preferred Stock, Par or Stated Value Per Share		1
Preferred Stock, Dividends, Per Share, Cash Paid		$ 0	$ 0	$ 0
Dividends, Preferred Stock, Cash		$ 0	$ 0	$ 0
Preferred Stock, Shares Issued		23,000
Repurchase Authorizations 2019 [Member] | Class A
Class of Stock [Line Items]
Stock Repurchase Program, Additional Authorized Amount			1,317
Repurchase Authorization 2018 [Member] | Class A
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount			640	150	$ 0
Stock Repurchased During Period, Value		$ 419	827	100
Stock Repurchase Program, Remaining Authorized Repurchase Amount		221	$ 640	150
Stock Repurchase Program, Additional Authorized Amount		$ 0		$ 250

Equity - AOCI (Details)

Equity - AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020	Jan. 01, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	$ 2,529	$ 3,637	$ (2,310)
Reclassification adjustments for gains (losses) realized in net income	259	169	0
Income tax expense (benefit) related to other comprehensive income (loss)	413	698	(431)
Other comprehensive income attributable to NCI, net of tax	161	17
Accumulated other comprehensive income (loss)	3,971	2,281	(472)			$ 1,449
Deferred Acquisition Costs, Deferred Value of Business Acquired and Future Policy Benefit Adjustment on Available-for-sale Securities Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax	0	0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax	7	1
Unrealized gains (losses) on AFS securities, including DAC, DSI, VOBA, and future policy benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	(634)	(1,322)	852
Reclassification adjustments for gains (losses) realized in net income	(94)	(56)	(1)
Income tax expense (benefit) related to other comprehensive income (loss)	(115)	(266)	168
Accumulated other comprehensive income (loss)	(1,310)	(879)	121			(568)
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	(106)	29	146
Reclassification adjustments for gains (losses) realized in net income	0	0	0
Income tax expense (benefit) related to other comprehensive income (loss)	(26)	6	31
Accumulated other comprehensive income (loss)	(26)	61	39			(76)
Accumulated Foreign Currency Adjustment and Other Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax	7	0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	18	1	(8)
Reclassification adjustments for gains (losses) realized in net income	0	0	0
Income tax expense (benefit) related to other comprehensive income (loss)	0	0	0
Accumulated other comprehensive income (loss)	8	(3)	(4)			4
AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Including Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	3,292	4,929	(3,300)
Reclassification adjustments for gains (losses) realized in net income	353	225	1
Income tax expense (benefit) related to other comprehensive income (loss)	562	958	(630)
Accumulated other comprehensive income (loss)	5,338	3,102	(628)			2,089
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, before tax	(41)	0	0
Reclassification adjustments for gains (losses) realized in net income	0	0	0
Income tax expense (benefit) related to other comprehensive income (loss)	(8)	0	0
Accumulated other comprehensive income (loss)	(39)	0	$ 0			$ 0
AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax	145	16
AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income attributable to NCI, net of tax	$ 2	$ 0
Accounting Standards Update 2016-01 [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					$ (42)
Accounting Standards Update 2016-01 [Member] | Unrealized gains (losses) on AFS securities, including DAC, DSI, VOBA, and future policy benefits | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					4
Accounting Standards Update 2016-01 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					0
Accounting Standards Update 2016-01 [Member] | Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					0
Accounting Standards Update 2016-01 [Member] | AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Including Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					(46)
Accounting Standards Update 2016-01 [Member] | AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)					$ 0
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				$ (6)
Accounting Standards Update 2016-13 [Member] | Unrealized gains (losses) on AFS securities, including DAC, DSI, VOBA, and future policy benefits | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				(6)
Accounting Standards Update 2016-13 [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				0
Accounting Standards Update 2016-13 [Member] | Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				0
Accounting Standards Update 2016-13 [Member] | AOCI, Gain (Loss), Debt Securities, Available-for-sale, without Allowance for Credit Loss, Including Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				4
Accounting Standards Update 2016-13 [Member] | AOCI, Gain (Loss), Debt Securities, Available-for-sale, with Allowance for Credit Loss, Including Noncontrolling Interest | Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)				$ (4)

Equity - Schedule of Preferred

Equity - Schedule of Preferred Stock (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.35%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 10, 2019
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	5.625%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Sep. 19, 2019
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	4.875%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Dec. 18, 2020
Preferred Stock, Shares Authorized	23,000
Preferred Stock, Shares Issued	23,000
Preferred Stock, Shares Outstanding	23,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage	6.375%
Preferred Stock, Liquidation Preference Per Share	$ 25,000
Preferred Stock, Issuance Date	Jun. 11, 2020
Preferred Stock, Shares Authorized	24,000
Preferred Stock, Shares Issued	24,000
Preferred Stock, Shares Outstanding	24,000

Equity - Preferred Stock Divide

Equity - Preferred Stock Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Preferred Stock [Line Items]
Dividends, Preferred Stock, Cash	$ 95	$ 36	$ 0
Series A Preferred Stock [Member]
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,587.51	$ 881.95	$ 0
Dividends, Preferred Stock, Cash	$ 55	$ 31	$ 0
Series B Preferred Stock [Member]
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 1,406.25	$ 394.53	$ 0
Dividends, Preferred Stock, Cash	$ 19	$ 5	$ 0
Series C Preferred Stock [Member]
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 880.99	$ 0	$ 0
Dividends, Preferred Stock, Cash	$ 21	$ 0	$ 0
Series D Preferred Stock
Schedule of Preferred Stock [Line Items]
Preferred Stock, Dividends, Per Share, Cash Paid	$ 0	$ 0	$ 0
Dividends, Preferred Stock, Cash	$ 0	$ 0	$ 0

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted	$ 1,065	$ 622	$ 824	$ (1,065)	$ 432	$ 276	$ 720	$ 708	$ 1,446	$ 2,136	$ 1,053
Class A
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									1,573	1,760	857
Net income available to AHL shareholders – diluted									$ 1,573	$ 1,760	$ 857
Basic weighted average shares outstanding (in shares)									184.9	153.9	160.5
Dilutive effect of stock compensation plans (in shares)									3.7	0.4	0.6
Diluted weighted average shares outstanding (in shares)									188.6	154.3	161.1
Earnings per share
Basic (in USD per share)	$ 5.57	$ 3.22	$ 4.25	$ (5.81)	$ 2.43	$ 1.50	$ 3.76	$ 3.65	$ 8.51	$ 11.44	$ 5.34
Diluted (in USD per share)	$ 5.44	$ 3.16	$ 4.19	(5.81)	2.42	1.50	3.75	3.64	$ 8.34	$ 11.41	$ 5.32
Class B
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (98)	$ 291	$ 157
Net income available to AHL shareholders – diluted									$ (98)	$ 291	$ 157
Basic weighted average shares outstanding (in shares)									25.4	25.4	29.3
Dilutive effect of stock compensation plans (in shares)									0	0	0
Diluted weighted average shares outstanding (in shares)									25.4	25.4	29.3
Earnings per share
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-1
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (13)	$ 38	$ 18
Net income available to AHL shareholders – diluted									$ (13)	$ 38	$ 18
Basic weighted average shares outstanding (in shares)									3.3	3.3	3.4
Dilutive effect of stock compensation plans (in shares)									0	0	0
Diluted weighted average shares outstanding (in shares)									3.3	3.3	3.4
Earnings per share
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-2
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (3)	$ 10	$ 5
Net income available to AHL shareholders – diluted									$ (3)	$ 10	$ 5
Basic weighted average shares outstanding (in shares)									0.8	0.8	0.8
Dilutive effect of stock compensation plans (in shares)									0	0	0
Diluted weighted average shares outstanding (in shares)									0.8	0.8	0.8
Earnings per share
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.31
Class M-3
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (4)	$ 11	$ 5
Net income available to AHL shareholders – diluted									$ (4)	$ 11	$ 5
Basic weighted average shares outstanding (in shares)									1	1	1
Dilutive effect of stock compensation plans (in shares)									0	0	0
Diluted weighted average shares outstanding (in shares)									1	1	1
Earnings per share
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.31
Class M-4
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (9)	$ 26	$ 11
Net income available to AHL shareholders – diluted									$ (9)	$ 26	$ 11
Basic weighted average shares outstanding (in shares)									2.4	2.2	2.1
Dilutive effect of stock compensation plans (in shares)									0	0.3	0.6
Diluted weighted average shares outstanding (in shares)									2.4	2.5	2.7
Earnings per share
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Diluted (in USD per share)				$ (3.87)	$ 2.13	$ 1.29	$ 3.28	$ 3.15	$ (3.87)	$ 9.94	$ 4.11

Earnings Per Share - Shares Exc

Earnings Per Share - Shares Excluded from Dilutive Calculation (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)	1.8	31.9	34.9

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current Income Tax Expense (Benefit)	$ 107	$ 53	$ 78
Deferred income tax expense (benefit)	178	64	44
Income tax expense (benefit)	$ 285	$ 117	$ 122

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Holiday [Line Items]
Income before income taxes	$ 2,206	$ 2,302	$ 1,175
Domestic Tax Authority [Member] | Office of the Tax Commissioner, Bermuda [Member]
Income Tax Holiday [Line Items]
Income before income taxes	903	1,895	641
Foreign Tax Authority [Member] | Internal Revenue Service (IRS)
Income Tax Holiday [Line Items]
Income before income taxes	1,083	528	534
Foreign Tax Authority [Member] | Her Majesty's Revenue and Customs (HMRC) [Member]
Income Tax Holiday [Line Items]
Income before income taxes	$ 220	$ (121)	$ 0

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 268	$ 88	$ 112
Increase (decrease) in income taxes resulting from:
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	8	16	0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	5	17	0
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount	(4)	2	11
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount	(6)	(6)	(3)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount	0	2	1
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	14	(2)	1
Income tax expense (benefit)	$ 285	$ 117	$ 122
Effective Tax Rate	13.00%	5.00%	10.00%
Domestic Tax Authority [Member] | Office of the Tax Commissioner, Bermuda [Member]
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	0.00%	0.00%	0.00%
Foreign Tax Authority [Member] | Internal Revenue Service (IRS)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 285	$ 117	$ 122
Income tax expense (benefit) related to other comprehensive income (loss)	413	698	(431)
Income Tax Expense (Benefit), Intraperiod Tax Allocation	$ 698	$ 815	$ (309)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Gross
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Policyholder Liabilities	$ 1,723	$ 1,753
Deferred Tax Assets, Operating Loss Carryforwards	86	133
Deferred Tax Assets, Tax Credit Carryforwards	0	2
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Compensation	20	21
Deferred Tax Assets, Other	36	16
Deferred Tax Assets, Gross	1,865	1,925
Deferred Tax Assets, Valuation Allowance	(74)	(63)
Deferred Tax Assets, Net of Valuation Allowance	1,791	1,862
Deferred Tax Liabilities, Gross [Abstract]
Deferred Tax Liabilities, Investments	998	928
Deferred Tax Liabilities, Other Comprehensive Income	997	585
Deferred Tax Liabilities, Deferred Expense, Deferred Policy Acquisition Cost	767	758
Deferred Tax Liabilities, Other	1	14
Deferred Tax Liabilities, Gross	2,763	2,285
Deferred Tax Liabilities, Net	$ (972)	$ (423)

Income Taxes - Summary of Valua

Income Taxes - Summary of Valuation Allowance (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 74	$ 63
United States Federal and State Net Operating Losses [Member]
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	50	47
German Other Deferred Tax Assets [Member]
Valuation Allowance [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 24	$ 16

Income Taxes - Schedule of Gros

Income Taxes - Schedule of Gross Current and Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Tax Assets and Liabilities [Line Items]
Income Taxes Receivable	$ 55
Deferred Tax Liabilities, Net	(972)	$ (423)
Taxes Payable		(14)
Other Assets [Member]
Income Tax Assets and Liabilities [Line Items]
Income Taxes Receivable	55	0
Deferred Tax Assets, Net	0	0
Other Liabilities [Member]
Income Tax Assets and Liabilities [Line Items]
Deferred Tax Liabilities, Net	(972)	(423)
Taxes Payable	$ 0	$ (14)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation Allowance [Line Items]
Deferred Tax Assets, Operating Loss Carryforwards	$ 552
Effective Tax Rate	13.00%	5.00%	10.00%
Office of the Tax Commissioner, Bermuda [Member] | Domestic Tax Authority [Member]
Valuation Allowance [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	0.00%	0.00%	0.00%
Internal Revenue Service (IRS) | Foreign Tax Authority [Member]
Valuation Allowance [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Her Majesty's Revenue and Customs (HMRC) [Member] | Foreign Tax Authority [Member]
Valuation Allowance [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	19.00%	19.00%	19.00%

Statutory Requirements - Statut

Statutory Requirements - Statutory EBS and BSCR (Details) - Bermuda - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ALRe
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 17,168,000,000	$ 14,073,000,000
BSCR ratio	254.00%	310.00%
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2.00%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
AARe
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 2,441,000,000	$ 2,898,000,000
BSCR ratio	967.00%	257.00%
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2.00%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
ACRA
Statutory Accounting Practices [Line Items]
EBS Capital and Surplus	$ 2,945,000,000	$ 1,237,000,000
BSCR ratio	236.00%	341.00%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%

Statutory Requirements - Narrat

Statutory Requirements - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
ALRe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2.00%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (4,434,000,000)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(17,000,000)
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	9,971,000,000	$ 8,141,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	13,518,000,000	11,000,000,000
EBS Capital and Surplus	$ 17,168,000,000	$ 14,073,000,000
BSCR ratio	254.00%	310.00%
AARe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin Required	$ 8,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets Threshold	2.00%
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (7,762,000,000)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(2,922,000,000)
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	1,096,000,000	$ 1,216,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,457,000,000	2,343,000,000
EBS Capital and Surplus	$ 2,441,000,000	$ 2,898,000,000
BSCR ratio	967.00%	257.00%
AADE | Delaware
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 170,000,000	$ 152,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,700,000,000	1,526,000,000
AAIA | Iowa
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Amount	(84,000,000)	(80,000,000)
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,312,000,000	1,209,000,000
ACRA | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Minimum Solvency Margin, Assets Threshold	$ 500,000
Statutory Accounting Practices, Minimum Solvency Margin, Percentage of Assets In Excess of Threshold	1.50%
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (378,000,000)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(683,000,000)
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	1,592,000,000	59,000,000
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,718,000,000	808,000,000
EBS Capital and Surplus	$ 2,945,000,000	$ 1,237,000,000
BSCR ratio	236.00%	341.00%
Line of Credit [Member] | Athene Re USA IV | Vermont
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Amount	$ 134,000,000	$ 137,000,000

Statutory Requirements - Stat_2

Statutory Requirements - Statutory Permitted Practices (Details) - Bermuda $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
ALRe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	$ (4,434)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(17)
AARe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	(7,762)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	(2,922)
ACRA
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Capital And Surplus	(378)
Statutory Accounting Practices, Permitted Practice, Increase (Decrease) To Statutory Net Income	$ (683)

Statutory Requirements - Stat_3

Statutory Requirements - Statutory Maximum Dividends (Details) - Bermuda - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
AARe
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 1,096	$ 1,216
ACRA
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval	$ 1,592	$ 59

Statutory Requirements - Stat_4

Statutory Requirements - Statutory Capital and Surplus and Net Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ALRe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	$ 13,518	$ 11,000
Statutory Accounting Practices, Statutory Net Income Amount	1,544	1,247	$ 418
AARe | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,457	2,343
Statutory Accounting Practices, Statutory Net Income Amount	92	248	997
ACRA | Bermuda
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	2,718	808
Statutory Accounting Practices, Statutory Net Income Amount	1,522	265	(287)
AADE | Delaware
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,700	1,526
Statutory Accounting Practices, Statutory Net Income Amount	54	(86)	18
AANY | New York
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	320	318
Statutory Accounting Practices, Statutory Net Income Amount	(25)	33	6
AAIA | Iowa
Statutory Accounting Practices [Line Items]
Statutory Accounting Practices, Statutory Capital and Surplus, Balance	1,312	1,209
Statutory Accounting Practices, Statutory Net Income Amount	$ (8)	$ 241	$ 81

Related Parties - Summary of Su

Related Parties - Summary of Sub-allocation assets (Details) - Apollo - Related Party - Sub-allocated assets [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 180,889	$ 127,550
Percentage of Sub-allocation Assets	100.00%	100.00%
Core
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 49,392	$ 32,474
Percentage of Sub-allocation Assets	27.30%	25.50%
Core Plus
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 41,516	$ 30,155
Percentage of Sub-allocation Assets	23.00%	23.60%
Yield
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 64,693	$ 48,557
Percentage of Sub-allocation Assets	35.80%	38.00%
High Alpha
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 6,200	$ 5,062
Percentage of Sub-allocation Assets	3.40%	4.00%
Other
Related Party Transaction [Line Items]
Sub-allocation Assets	$ 19,088	$ 11,302
Percentage of Sub-allocation Assets	10.50%	8.90%

Related Parties - Narrative (De

Related Parties - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Funds withheld liability	$ 452	$ 408
Payments to Acquire Investment Funds	1,536	1,012	$ 1,457
Fair Value	89,373	75,178
Investment funds	6,087	4,300
Investments [Member]
Related Party Transaction [Line Items]
Other Commitment	7,472	4,793
Related Party
Related Party Transaction [Line Items]
Payments to Acquire Investment Funds	1,372	838	1,170
Other investments	469	487
Fair Value	6,520	3,804
Investment funds	5,284	3,550
Related Party | ABS
Related Party Transaction [Line Items]
Fair Value	4,785	2,849
Related Party | Private Equity Funds [Member]
Related Party Transaction [Line Items]
Investment funds	473	105
Related Party | Differentiated Investments [Member]
Related Party Transaction [Line Items]
Investment funds	1,889	1,758
Related Party | Management Fees Associated with Investment Funds [Member]
Related Party Transaction [Line Items]
Management fees	490	426	$ 349
Due to related parties	41	42
Related Party | MidCap
Related Party Transaction [Line Items]
Fair Value	630	624
Related Party | AmeriHome [Member] | ABS
Related Party Transaction [Line Items]
Fair Value	$ 360	170
Athene Asset Management | Related Party | Portfolio Management Agreement [Member]
Related Party Transaction [Line Items]
Management fee payable, percentage			0.40%
Amended Management Fee, Threshold			$ 65,846
Related Party Transactions, Asset Management Fee Payable on Excess Asset Threshold, Percentage			0.30%
Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Base Management Fee	0.225%
Backbook Value		103,400
Incremental Fee	0.15%
Incremental Fee Adjustment	0.025%
Incremental Fee Percent Decrease	0.025%
Incremental Fee Percent Increase	0.025%
Apollo | Related Party | Sub-Advisory Fees Associated with Investment Fund Management [Member]
Related Party Transaction [Line Items]
Related Party Transactions, Sub-advisory Fee Payable, Asset Threshold One			$ 10,000
Related Party Transactions, Sub-advisory Fee Payable, Tier One, Percentage			0.40%
Related Party Transactions, Sub-advisory Fee Payable, Asset Threshold Two			$ 12,441
Related Party Transactions, Sub-advisory Fee Payable, Tier Two, Percentage			0.35%
Related Party Transactions, Sub-advisory Fee Payable, Tier Three, Percentage			0.40%
Related Party Transactions, Sub-advisory Fee Payable, Asset Threshold Three			$ 16,000
Related Party Transactions, Sub-advisory Fee Payable, Tier Four, Percentage			0.35%
Athora Life Re Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Funds withheld liability			$ 337
Athora Holding Ltd. [Member] | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment	$ 305
Athora Holding Ltd. [Member] | Related Party | Private Equity Funds [Member]
Related Party Transaction [Line Items]
Payments to Acquire Investment Funds	361
Investment funds	709	132
Athora Holding Ltd. [Member] | Related Party | Differentiated Investments [Member]
Related Party Transaction [Line Items]
Investment funds	709	132
Venerable Holdings, Inc. | Related Party | Differentiated Investments [Member]
Related Party Transaction [Line Items]
Investment funds	123	99
A-A Mortgage | Related Party | Investments [Member]
Related Party Transaction [Line Items]
Other Commitment	381
AmeriHome [Member] | Related Party | Differentiated Investments [Member]
Related Party Transaction [Line Items]
Investment funds	444	487
AmeriHome [Member] | Related Party | Purchase of Residential Mortgage Loans Under Agreement
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 169	411	$ 722
Core | Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Sub-allocation fee percentage	0.065%
Sub-allocation Fee Tier Plus	60.00%
Sub-allocation Fee Tier Minus	50.00%
Core Plus | Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Sub-allocation fee percentage	0.13%
Yield | Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Sub-allocation fee percentage	0.375%
High Alpha | Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Sub-allocation fee percentage	0.70%
Other | Apollo | Related Party | Sub-allocated assets [Member]
Related Party Transaction [Line Items]
Sub-allocation fee percentage	0.00%
Novation
Related Party Transaction [Line Items]
Funds withheld liability	$ 0	347
Novation | Athora Life Re Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Funds withheld liability		$ 337

Related Parties - Summary of As

Related Parties - Summary of Assets Sub-Advised by Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Fair Value	$ 89,373	$ 75,178
Mortgage loans	15,938	14,959
Investment funds	6,087	4,300
Assets, Total	202,771	146,875
Related party
Related Party Transaction [Line Items]
Fair Value	6,520	3,804
Trading securities	1,529	785
Equity securities	72	64
Mortgage loans	674	653
Investment funds	5,284	3,550
Funds withheld at interest	13,030	13,220
Other investments	469	487
Corporate | Related party
Related Party Transaction [Line Items]
Fair Value	215	19
CLO | Related party
Related Party Transaction [Line Items]
Fair Value	1,520	936
ABS | Related party
Related Party Transaction [Line Items]
Fair Value	$ 4,785	$ 2,849

Related Parties - Other Related

Related Parties - Other Related Party Transactions (Details) - USD ($) $ in Millions	Feb. 16, 2021	Apr. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2020	Jun. 01, 2018
Related Party Transaction [Line Items]
Other changes in equity of noncontrolling interests			$ 240	$ 575
Investment funds			6,087	4,300
Proceeds from Issuance of Common Stock			351	0	$ 0
Liabilities assumed			182,631	132,734
Funds withheld liability			452	408
Interest sensitive contract liabilities			144,566	$ 102,745
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 66
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders			$ (46)
ACRA
Related Party Transaction [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners			63.45%	67.00%
Noncontrolling Interest, Ownership Percentage by Parent			36.55%
Related Party
Related Party Transaction [Line Items]
Investment funds			$ 5,284	$ 3,550
Interest sensitive contract liabilities			14,150	15,285
Equity securities			72	64
Trading securities			1,529	785
Other investments			469	487
Apollo Athene Strategic Partnership Advisors, LLC [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			214	97
Strategic Partnership Capacity			$ 2,500
Athora Lebensversicherung AG | Related Party
Related Party Transaction [Line Items]
Liabilities assumed					325
Venerable Holdings, Inc. | Related Party
Related Party Transaction [Line Items]
Interest rate			6.257%
Athene Dedicated Investment Program | Related Party
Related Party Transaction [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Issuance of Equity by Subsidiary to Noncontrolling Interests				575
AmeriHome [Member] | Related Party | Purchase of Residential Mortgage Loans Under Agreement
Related Party Transaction [Line Items]
Related party purchases			$ 169	411	722
MidCap | Related Party
Related Party Transaction [Line Items]
Other investments			328	339
Investments, excluding policy loans			939	886
Apollo Operating Group | Related Party
Related Party Transaction [Line Items]
Investment Owned, Balance, Shares						29,154,519
Investment Owned, at Fair Value						$ 1,100
AA Infrastructure | Related Party
Related Party Transaction [Line Items]
Equity securities			72	58
Trading securities			420	267
Athora Life Re Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Funds withheld liability					337
PK AirFinance [Member] | Related Party
Related Party Transaction [Line Items]
Debt Securities			1,373	1,282
Novation
Related Party Transaction [Line Items]
Funds withheld liability			0	347
Interest sensitive contract liabilities			148	407
Investments, excluding policy loans			0	320
Novation | Athora Lebensversicherung AG | Related Party
Related Party Transaction [Line Items]
Liabilities assumed				325
Novation | Athora Life Re Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Liabilities assumed				663
Funds withheld liability				337
Reinsurance agreement
Related Party Transaction [Line Items]
Liabilities assumed			27,439	791	27,238
Interest sensitive contract liabilities			$ 1,366	$ 0	$ 69
Reinsurance agreement | Voya Insurance and Annuity Company [Member] | Related Party
Related Party Transaction [Line Items]
Liabilities assumed							$ 18,578
Class A
Related Party Transaction [Line Items]
Common stock issued (in shares)			191,500,000	143,200,000
Class A | Apollo Operating Group | Related Party
Related Party Transaction [Line Items]
Minimum Ownership, Proxy			7.50%
Proceeds from Issuance of Common Stock			$ 350
Common stock issued (in shares)						7,575,758
Exchange of stock [Member] | Class A | Apollo Operating Group | Related Party
Related Party Transaction [Line Items]
Common stock issued (in shares)						27,959,184
Dividend Paid [Member] | AA Infrastructure | Related Party
Related Party Transaction [Line Items]
Dividends				$ 267
Investments [Member]
Related Party Transaction [Line Items]
Other Commitment			7,472	4,793
Investments [Member] | A-A Mortgage | Related Party
Related Party Transaction [Line Items]
Other Commitment			381
Investments [Member] | AA Infrastructure | Related Party
Related Party Transaction [Line Items]
Other Commitment			36
Investments [Member] | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Other Commitment			305
Investments [Member] | PK AirFinance [Member] | Related Party
Related Party Transaction [Line Items]
Other Commitment			229
Private Equity Funds [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			473	105
Private Equity Funds [Member] | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			709	132
Credit Funds [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			375	370
Redeemable preferred stock | Related Party | MidCap
Related Party Transaction [Line Items]
Trading securities			77	0
Debt Securities [Member] | Venerable Holdings, Inc. | Related Party
Related Party Transaction [Line Items]
Other investments			145	148
Differentiated Investments [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			1,889	1,758
Differentiated Investments [Member] | Venerable Holdings, Inc. | Related Party
Related Party Transaction [Line Items]
Investment funds			123	99
Differentiated Investments [Member] | AmeriHome [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			444	487
Differentiated Investments [Member] | AmeriHome [Member] | Related Party | Subsequent Event [Member]
Related Party Transaction [Line Items]
Gain on Sale of Investments	$ 175
Differentiated Investments [Member] | MidCap | Related Party
Related Party Transaction [Line Items]
Investment funds			0	547
Differentiated Investments [Member] | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Investment funds			709	132
ABS | Related Party | MidCap
Related Party Transaction [Line Items]
Trading securities			534	0
Additional paid-in capital
Related Party Transaction [Line Items]
Other changes in equity of noncontrolling interests				(145)
Accumulated other comprehensive income (loss)
Related Party Transaction [Line Items]
Other changes in equity of noncontrolling interests				(34)
Noncontrolling interests
Related Party Transaction [Line Items]
Other changes in equity of noncontrolling interests			240	754
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders			(46)
Funding Agreements | Athora Holding Ltd. [Member] | Related Party
Related Party Transaction [Line Items]
Interest sensitive contract liabilities			$ 122	$ 146

Commitments and Contingencies -

Commitments and Contingencies - Pledged Assets and Funds in Trust (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Financial Instruments Owned and Pledged as Collateral [Line Items]
Debt Securities, Available-for-sale, Restricted	$ 9,884	$ 9,369
Debt Securities, Trading, Restricted	60	45
Equity Securities, FV-NI, Restricted	26	22
Investment funds	68	84
Derivative assets pledged as collateral	107	105
Mortgage loans	5,028	2,535
Short-term investments	52	92
Other Investments Pledged as Collateral	105	88
Restricted Cash and Cash Equivalents	738	402
Total restricted assets	$ 16,068	$ 12,742

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Letters of Credit Outstanding, Amount	$ 1,408
Advances from FHLB	2,002	$ 1,226
COLI asset value	412
Value of guarantees on COLI	194
Interest sensitive contract liabilities	144,566	102,745
Litigation Settlement, Expense		45
Payments for Legal Settlements	45
Funding Agreement Backed Repurchase Agreements [Member]
Other Commitments [Line Items]
Interest sensitive contract liabilities	1,000
Athene Global Funding | Funding Agreements
Other Commitments [Line Items]
Maximum borrowing capacity	6,300
Interest sensitive contract liabilities	8,822	$ 3,700
Pending Litigation | Caldera
Other Commitments [Line Items]
Loss Contingency, Damages Sought, Value	$ 1,500

Segment Information - Reconcili

Segment Information - Reconciliation of Segment Adjusted Operating Revenues to Consolidation (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 8,640	$ 3,275	$ 4,398	$ (1,549)	$ 3,256	$ 4,584	$ 3,423	$ 4,995	$ 14,764	$ 16,258	$ 6,637
Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets									3,430	4,443	(1,099)
Investment gains (losses), net of offsets									3,309	4,719	(1,360)
Operating Segments | Retirement Services
Segment Reporting Information [Line Items]
Total revenues									10,681	11,460	8,118
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Total revenues									266	117	44
Non-operating adjustments
Segment Reporting Information [Line Items]
Change in fair values of derivatives and embedded derivatives – index annuities, net of offsets									868	2,346	(1,020)
Investment gains (losses), net of offsets									720	1,685	(515)
Noncontrolling interests, VIE expenses and other adjustments to revenues									$ 2,229	$ 650	$ 10

Segment Information - Reconci_2

Segment Information - Reconciliation of Segment Adjusted Operating Income to Consolidation (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income tax expense – non-operating									$ (285)	$ (117)	$ (122)
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted	$ 1,065	$ 622	$ 824	$ (1,065)	$ 432	$ 276	$ 720	$ 708	1,446	2,136	1,053
Operating Segments | Retirement Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Income tax expense – non-operating									(164)	(117)	(100)
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									1,266	1,322	1,201
Operating Segments | Corporate and Other
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									(24)	(33)	(61)
Non-operating adjustments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Investment gains (losses), net of offsets									508	994	(274)
Loss on Derivative Instruments, Net of Expenses, Pretax									(235)	(65)	242
Integration, restructuring and other non-operating expenses									(10)	(70)	(22)
Stock-based compensation, excluding LTIP									(11)	(12)	(11)
Income tax expense – non-operating									$ (48)	$ 0	$ (22)

Segment Information - Reconci_3

Segment Information - Reconciliation of Segment Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net investment income	$ 4,885	$ 4,596	$ 4,060
Operating Segments | Retirement Services
Segment Reporting Information [Line Items]
Net investment income	5,287	5,062	4,188
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Net investment income	41	117	44
Non-operating adjustments
Segment Reporting Information [Line Items]
Reinsurance Embedded Derivative Gain (Loss)	(1,408)	(680)	(301)
Alternative Income Gain (Loss)	102	(1)	34
Noncontrolling interests	559	61	0
Apollo investment (gain) loss	225	0	0
Other Adjustment to Net Investment Income	$ 79	$ 37	$ 95

Segment Information - Reconci_4

Segment Information - Reconciliation of Segment Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income tax expense	$ 285	$ 117	$ 122
Non-operating adjustments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income tax expense	48	0	22
Retirement Services | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income tax expense	$ 164	$ 117	$ 100

Segment Information - Assets by

Segment Information - Assets by Segment (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ 202,771	$ 146,875
Retirement Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	197,295	143,881
Corporate and Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total assets	$ 5,476	$ 2,994

Segment Information - Narrative

Segment Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Information - Premiums

Segment Information - Premiums and Deposits by Product (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	$ 48,916	$ 12,125	$ 36,663
Premiums	5,963	6,382	3,462
Premiums and Annuity Deposits	54,879	18,507	40,125
Fixed Indexed Annuity [Member]
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	20,257	7,304	29,973
Fixed Rate Annuity [Member]
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	20,433	3,192	5,501
Payouts Without Life Contingency [Member]
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	545	341	535
Funding Agreements
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	7,679	1,301	650
Life Insurance Product Line
Segment Reporting Information [Line Items]
Annuity Deposit Revenue, Gross	2	(13)	4
Premiums	52	50	54
Payouts With Life Contingency [Member]
Segment Reporting Information [Line Items]
Premiums	$ 5,911	$ 6,332	$ 3,408

Segment Information - Premium_2

Segment Information - Premiums and Deposits by Geographic Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Premiums and Annuity Deposits	$ 54,879	$ 18,507	$ 40,125
Total US Region
Segment Reporting Information [Line Items]
Premiums and Annuity Deposits	37,879	17,159	16,421
Bermuda
Segment Reporting Information [Line Items]
Premiums and Annuity Deposits	$ 17,000	$ 1,348	$ 23,704

Quarterly Results of Operatio_3

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Revenues, Total	$ 8,640	$ 3,275	$ 4,398	$ (1,549)	$ 3,256	$ 4,584	$ 3,423	$ 4,995	$ 14,764	$ 16,258	$ 6,637
Total benefits and expenses	7,157	2,251	3,317	(167)	2,723	4,305	2,673	4,255	12,558	13,956	5,462
Net Income (Loss) Attributable to Parent	1,093	652	843	(1,047)	451	293	720	708	1,541	2,172	1,053
Less: Preferred stock dividends	28	30	19	18	19	17	0	0	95	36	0
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted	1,065	622	824	(1,065)	432	276	720	708	1,446	2,136	1,053
Net income	1,322	884	931	(1,216)	464	293	720	708	1,921	2,185	1,053
Less: Net income attributable to noncontrolling interests	$ 229	$ 232	$ 88	$ (169)	$ 13	$ 0	$ 0	$ 0	$ 380	$ 13	$ 0
Class B
Class of Stock [Line Items]
Diluted (in USD per share)				$ (3.87)	$ 2.43	$ 1.50	$ 3.76	$ 3.65	$ (3.87)	$ 11.44	$ 5.34
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (98)	$ 291	$ 157
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-1
Class of Stock [Line Items]
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (13)	$ 38	$ 18
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-2
Class of Stock [Line Items]
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.31
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (3)	$ 10	$ 5
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-3
Class of Stock [Line Items]
Diluted (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.31
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (4)	$ 11	$ 5
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class M-4
Class of Stock [Line Items]
Diluted (in USD per share)				(3.87)	2.13	1.29	3.28	3.15	$ (3.87)	$ 9.94	$ 4.11
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ (9)	$ 26	$ 11
Basic (in USD per share)				(3.87)	2.43	1.50	3.76	3.65	$ (3.87)	$ 11.44	$ 5.34
Class A
Class of Stock [Line Items]
Diluted (in USD per share)	$ 5.44	$ 3.16	$ 4.19	(5.81)	2.42	1.50	3.75	3.64	$ 8.34	$ 11.41	$ 5.32
Net income (loss) available to Athene Holding Ltd. common shareholders – basic and diluted									$ 1,573	$ 1,760	$ 857
Basic (in USD per share)	$ 5.57	$ 3.22	$ 4.25	$ (5.81)	$ 2.43	$ 1.50	$ 3.76	$ 3.65	$ 8.51	$ 11.44	$ 5.34

Schedule I Summary of Investm_2

Schedule I Summary of Investments - Other Than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2020USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	$ 147,992
Amount Shown on Consolidated Balance Sheet	154,843
Trading securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	1,770
Fair Value	2,093
Amount Shown on Consolidated Balance Sheet	2,093
Fixed Maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	77,870
Fair Value	84,946
Amount Shown on Consolidated Balance Sheet	84,946
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	759
Fair Value	330
Amount Shown on Consolidated Balance Sheet	532
Mortgage loans, net of allowances
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	15,262
Amount Shown on Consolidated Balance Sheet	15,264
Investment funds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	803
Amount Shown on Consolidated Balance Sheet	803
Policy loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	369
Amount Shown on Consolidated Balance Sheet	369
Funds withheld at interest
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	48,612
Amount Shown on Consolidated Balance Sheet	48,612
Derivative
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	3,523
Amount Shown on Consolidated Balance Sheet	3,523
Short-term Investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	222
Amount Shown on Consolidated Balance Sheet	222
Other investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	572
Amount Shown on Consolidated Balance Sheet	572
US government and agencies | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	349
Fair Value	351
Amount Shown on Consolidated Balance Sheet	351
US state, municipal and political subdivisions | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	864
Fair Value	1,033
Amount Shown on Consolidated Balance Sheet	1,033
Foreign governments | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	330
Fair Value	368
Amount Shown on Consolidated Balance Sheet	368
Public utilities | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	5,884
Fair Value	6,665
Amount Shown on Consolidated Balance Sheet	6,665
Redeemable preferred stock | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	130
Fair Value	141
Amount Shown on Consolidated Balance Sheet	141
Other corporate | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	45,920
Fair Value	51,374
Amount Shown on Consolidated Balance Sheet	51,374
CLO | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	9,631
Fair Value	9,569
Amount Shown on Consolidated Balance Sheet	9,569
ABS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	4,259
Fair Value	4,270
Amount Shown on Consolidated Balance Sheet	4,270
CMBS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	2,165
Fair Value	2,169
Amount Shown on Consolidated Balance Sheet	2,169
RMBS | AFS securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	6,568
Fair Value	6,913
Amount Shown on Consolidated Balance Sheet	6,913
Industrial, miscellaneous and all other common stock | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	76
Fair Value	68
Amount Shown on Consolidated Balance Sheet	68
Nonredeemable preferred stocks | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	250
Fair Value	262
Amount Shown on Consolidated Balance Sheet	262
Financial Service | Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost or Amortized Cost	433
Fair Value
Amount Shown on Consolidated Balance Sheet	$ 202

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant - Condensed Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Fair Value	$ 89,373	$ 75,178
Debt Securities, Available-for-sale, Amortized Cost	82,544	71,262
Accumulated other comprehensive income (loss)	3,971	2,281	$ (472)	$ 1,449
Cash and Cash Equivalents, at Carrying Value	7,704	4,240
Investment funds	6,087	4,300
Other assets (liabilities), net	1,249	1,005
Notes Receivable form Subsidiary	1,393	0
Assets, Total	202,771	146,875
Long-term Debt	1,976	992
Other Liabilities	2,040	1,181
Liabilities, Total	182,631	132,734
Additional Paid in Capital	6,613	4,171
Retained Earnings (Accumulated Deficit)	8,073	6,939
Stockholders' Equity Attributable to Parent, Total	18,657	13,391
Liabilities and Equity, Total	202,771	146,875
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Fair Value	52	61
Debt Securities, Available-for-sale, Amortized Cost	43	56
Accumulated other comprehensive income (loss)	3,971	2,281
Cash and Cash Equivalents, at Carrying Value	342	171	$ 112	$ 142
Other assets (liabilities), net	43	6
Intercompany Receivable	21	13
Intercompany Investments	18,133	14,085
Assets, Total	20,693	14,470
Long-term Debt	1,976	992
Notes Payable, Related Parties	0	38
Other Liabilities	57	40
Intercompany Payable	3	9
Liabilities, Total	2,036	1,079
Additional Paid in Capital	6,613	4,171
Retained Earnings (Accumulated Deficit)	8,073	6,939
Stockholders' Equity Attributable to Parent, Total	18,657	13,391
Liabilities and Equity, Total	$ 20,693	$ 14,470
Series A Preferred Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 863	$ 863
Preferred Stock, Shares Authorized	34,500	0
Preferred Stock, Shares Issued	34,500	0
Preferred Stock, Shares Outstanding	34,500	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series A Preferred Stock [Member] | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series B Preferred Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1	$ 1
Preferred Stock, Liquidation Preference, Value	$ 345	$ 345
Preferred Stock, Shares Authorized	13,800	0
Preferred Stock, Shares Issued	13,800	0
Preferred Stock, Shares Outstanding	13,800	0
Preferred Stock, Value, Outstanding	$ 0	$ 0
Series B Preferred Stock [Member] | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	$ 0
Class A
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	191,500,000	143,200,000
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock outstanding (in shares)	191,500,000	143,200,000	162,400,000	142,400,000
Common stock authorized (in shares)	425,000,000	425,000,000
Common Stock, Value, Issued	$ 0	$ 0
Class A | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	$ 0
Class B
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	0	25,400,000
Common stock, par value (in USD per share)		$ 0.001
Common stock outstanding (in shares)	0	25,400,000	25,400,000	47,400,000
Common stock authorized (in shares)	0	325,000,000
Common Stock, Value, Issued	$ 0	$ 0
Class B | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	$ 0
Class M-1
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	0	3,300,000
Common stock, par value (in USD per share)		$ 0.001
Common stock outstanding (in shares)	0	3,300,000	3,400,000	3,400,000
Common stock authorized (in shares)	0	7,100,000
Common Stock, Value, Issued	$ 0	$ 0
Class M-1 | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	$ 0
Class M-2
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	0	800,000
Common stock, par value (in USD per share)		$ 0.001
Common stock outstanding (in shares)	0	800,000	800,000	900,000
Common stock authorized (in shares)	0	5,000,000
Common Stock, Value, Issued	$ 0	$ 0
Class M-2 | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	$ 0
Class M-3
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	0	1,000,000
Common stock, par value (in USD per share)		$ 0.001
Common stock outstanding (in shares)	0	1,000,000	1,000,000	1,100,000
Common stock authorized (in shares)	0	7,500,000
Common Stock, Value, Issued	$ 0	$ 0
Class M-3 | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	$ 0
Class M-4
Condensed Financial Statements, Captions [Line Items]
Common stock issued (in shares)	0	4,000,000
Common stock, par value (in USD per share)		$ 0.001
Common stock outstanding (in shares)	0	4,000,000	4,100,000	4,700,000
Common stock authorized (in shares)	0	7,500,000
Common Stock, Value, Issued	$ 0	$ 0
Class M-4 | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Common Stock, Value, Issued	$ 0	0
Series C Preferred Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Liquidation Preference, Value	$ 600
Preferred Stock, Shares Authorized	24,000
Preferred Stock, Shares Issued	24,000
Preferred Stock, Shares Outstanding	24,000
Preferred Stock, Value, Outstanding	$ 0	0
Series C Preferred Stock [Member] | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	$ 0	0
Series D Preferred Stock
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Par or Stated Value Per Share	$ 1
Preferred Stock, Liquidation Preference, Value	$ 575
Preferred Stock, Shares Authorized	23,000
Preferred Stock, Shares Issued	23,000
Preferred Stock, Shares Outstanding	23,000
Preferred Stock, Value, Outstanding	$ 0	0
Series D Preferred Stock | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Preferred Stock, Value, Outstanding	0	0
Related Party
Condensed Financial Statements, Captions [Line Items]
Fair Value	6,520	3,804
Debt Securities, Available-for-sale, Amortized Cost	6,444	3,783
Accumulated other comprehensive income (loss)	59	17
Investment funds	5,284	3,550
Other Liabilities	112	79
Related Party | Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Fair Value	0	2
Debt Securities, Available-for-sale, Amortized Cost	0	2
Investment funds	$ 709	$ 132

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant - Condensed Income Statement (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net investment income									$ 4,885	$ 4,596	$ 4,060
Gain (Loss) on Investments									3,309	4,719	(1,360)
Other Income									36	37	26
Revenues, Total	$ 8,640	$ 3,275	$ 4,398	$ (1,549)	$ 3,256	$ 4,584	$ 3,423	$ 4,995	14,764	16,258	6,637
Policy and other operating expenses									855	744	626
Total benefits and expenses	7,157	2,251	3,317	(167)	2,723	4,305	2,673	4,255	12,558	13,956	5,462
Income tax expense									285	117	122
Net Income (Loss) Attributable to Parent	1,093	652	843	(1,047)	451	293	720	708	1,541	2,172	1,053
Less: Preferred stock dividends	28	30	19	18	19	17	0	0	95	36	0
Net income available to Athene Holding Ltd. common shareholders – basic and diluted	$ 1,065	$ 622	$ 824	$ (1,065)	$ 432	$ 276	$ 720	$ 708	1,446	2,136	1,053
Comprehensive income (loss) available to Athene Holding Ltd. shareholders									3,237	4,959	(826)
Related Party
Condensed Financial Statements, Captions [Line Items]
Gain (Loss) on Investments									702	1,009	(98)
Policy and other operating expenses									53	45	42
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net investment income									147	15	17
Gain (Loss) on Investments									(50)	6	14
Other Income									0	0	20
Revenues, Total									97	21	51
Policy and other operating expenses									151	142	124
Total benefits and expenses									151	142	124
Income (Loss) from Continuing Operations before Income Taxes, Equity Earnings in Subsidiaries									(54)	(121)	(73)
Income tax expense									(2)	0	0
Income (Loss) from Subsidiaries, Net of Tax									1,593	2,293	1,126
Net Income (Loss) Attributable to Parent									1,541	2,172	1,053
Less: Preferred stock dividends									95	36	0
Net income available to Athene Holding Ltd. common shareholders – basic and diluted									1,446	2,136	1,053
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent									1,696	2,787	(1,879)
Comprehensive income (loss) available to Athene Holding Ltd. shareholders									3,237	4,959	(826)
Parent Company [Member] | Related Party
Condensed Financial Statements, Captions [Line Items]
Net investment income									146	8	(3)
Gain (Loss) on Investments									0	1	24
Policy and other operating expenses									$ 13	$ 11	$ 7

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant - Condensed Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net Investment Income	$ 4,154	$ 2,656	$ 2,874
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	11,384	12,762	12,121
Proceeds from Investment Funds	788	429	540
Short-term investments	883	398	538
Available-for-sale securities	(23,404)	(17,237)	(15,435)
Payments to Acquire Investment Funds	(1,536)	(1,012)	(1,457)
Payments to Acquire Short-term Investments	617	802	478
Payments for (Proceeds from) Other Investing Activities	(296)	(45)	(94)
Net cash provided by (used in) investing activities	(14,817)	(9,956)	(8,173)
Proceeds from Issuance of Long-term Debt	992	0	998
Repayments of Notes Payable	(75)	0	(183)
Proceeds from Issuance of Preferred Stock and Preference Stock	1,140	1,172	0
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(95)	(36)	0
Payments for (Proceeds from) Derivative Instrument, Financing Activities	546	2,286	(1,354)
Payments for Repurchase of Common Stock	428	832	105
Proceeds from (Payments for) Other Financing Activities	122	(80)	113
Net cash provided by financing activities	14,489	8,537	3,707
Cash and Cash Equivalents, at Carrying Value	7,704	4,240
Cash paid for interest	99	49	26
Proceeds from Issuance of Common Stock	351	0	0
Investment funds | Exchange of Stock for Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Payments to Acquire Investment Funds	0	0	(108)
Related Party
Condensed Financial Statements, Captions [Line Items]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	282	252	181
Proceeds from Investment Funds	691	296	350
Short-term investments	28	0	172
Available-for-sale securities	(3,127)	(2,897)	(811)
Payments to Acquire Investment Funds	(1,372)	(838)	(1,170)
Payments to Acquire Short-term Investments	28	0	121
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net Investment Income	(145)	(106)	(66)
Payments to Acquire Additional Interest in Subsidiaries	(920)	(70)	(95)
Intercompany Receipts on Loans to Subsidiary	50	0	64
Intercompany Payments to Fund Loans to Subsidiary	(237)	0	(20)
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	17	4	178
Short-term investments	0	0	64
Available-for-sale securities	(3)	(16)	(994)
Transfer to Investments	1,206	0	0
Payments to Acquire Short-term Investments	0	0	64
Payments for (Proceeds from) Other Investing Activities	(51)	27	(90)
Net cash provided by (used in) investing activities	(1,599)	(74)	(957)
Proceeds from Issuance of Long-term Debt	992	0	998
Repayments of Notes Payable	(778)	(174)	0
Proceeds from Related Party Debt	740	108	105
Proceeds from Issuance of Preferred Stock and Preference Stock	1,140	1,172	0
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(95)	(36)	0
Payments for Repurchase of Common Stock	428	832	105
Proceeds from (Payments for) Other Financing Activities	(7)	1	(5)
Net cash provided by financing activities	1,915	239	993
Net increase (decrease) in cash and cash equivalents	171	59	(30)
Cash and Cash Equivalents, at Carrying Value	342	171	112	$ 142
Cash paid for interest	61	46	23
Non-cash Capital Contribution to Related Party	0	0	803
Proceeds from Issuance of Common Stock	351	0	0
Parent Company [Member] | Investment funds | Exchange of Stock for Stock [Member]
Condensed Financial Statements, Captions [Line Items]
Payments to Acquire Investment Funds	0	0	(108)
Parent Company [Member] | Related Party
Condensed Financial Statements, Captions [Line Items]
Proceeds from Sale and Maturity of Debt Securities, Available-for-sale	2	0	0
Proceeds from Investment Funds	0	1	0
Available-for-sale securities	0	(2)	0
Payments to Acquire Investment Funds	$ (455)	$ (20)	$ 0

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant - Condensed Footnotes of Parent (Details) - Parent Company [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	4.50
Assets held-in-trust		$ 44
Contribution of Property	$ 920	70	$ 898
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Subsidiaries and Equity Method Investees	$ 0	3	$ 50
ALRe
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable Interest Rate	2.34%
Maximum borrowing capacity	$ 1,000
Line of Credit Facility, Interest Rate at Period End	1.25%
Long-term Line of Credit	$ 0	38
Loans Receivable, Basis Spread on Variable Rate	0.98%
Notes Receivable, Related Parties	$ 1,206	0
ALRe | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	$ 0	0
Intercompany Note Receivable Interest Rate	1.25%
Revolving note receivable, borrowing capacity	$ 1,000
Athene USA Corporation [Member] | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	187	0
Revolving note receivable, borrowing capacity	250
Athene Life Re International Ltd. [Member] | Revolving Credit Facility
Condensed Financial Statements, Captions [Line Items]
Intercompany Note Receivable	0	$ 0
Revolving note receivable, borrowing capacity	$ 100

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	$ 4,906	$ 5,008	$ 5,907
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense	173,824	126,075	113,314
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Policy Claim and Benefit Payable	130	138	142
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue	5,963	6,382	3,462
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income	4,885	4,596	4,060
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses	11,182	12,254	4,662
Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Costs and Value of Business Acquired	521	958	174
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense	855	744	626
Retirement Services
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	4,906	5,008	5,907
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense	173,824	126,075	113,314
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Policy Claim and Benefit Payable	130	138	142
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue	5,963	6,382	3,462
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income	4,619	4,479	4,016
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses	11,182	12,254	4,662
Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Costs and Value of Business Acquired	521	958	174
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense	705	599	496
Corporate and Other
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred Policy Acquisition Costs, Deferred Sales Inducements, and Present Value of Future Profits	0	0	0
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Liability for Future Policy Benefit, Loss, Claim and Loss Expense	0	0	0
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Policy Claim and Benefit Payable	0	0	0
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Premium Revenue	0	0	0
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Net Investment Income	266	117	44
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Benefit, Claim, Loss and Settlement Expenses	0	0	0
Supplementary Insurance Information, Amortization of Deferred Policy Acquisition Costs and Value of Business Acquired	0	0	0
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information, Other Operating Expense	$ 150	$ 145	$ 130

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Gross	$ 29,527	$ 33,221	$ 39,941
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Ceded	35,088	39,145	45,957
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Assumed	6,863	7,317	7,857
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Net	$ 1,302	$ 1,393	$ 1,841
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Life Insurance in Force, Percentage Assumed to Net	527.10%	525.30%	426.80%
Direct	$ 5,691	$ 5,449	$ 2,813
Ceded Premiums Earned	141	159	417
Reinsurance assumed	413	1,092	1,066
Premiums	$ 5,963	$ 6,382	$ 3,462
SEC Schedule, 12-17, Insurance Companies, Reinsurance, Premium, Percentage Assumed to Net	6.90%	17.10%	30.80%

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 74	$ 63	$ 52	$ 96
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	11	31	9
SEC Schedule, 12-09, Valuation Allowances and Reserves, Business Acquired	0	0	0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	$ 0	$ (20)	$ (53)