Equitable Financial Life Insurance 10-Q 12 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 11, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-20501
Entity Registrant Name	Equitable Financial Life Insurance Company
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-5570651
Entity Address, Address Line One	1290 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10104
City Area Code	212
Local Phone Number	554-1234
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,000,000
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Amendment Flag	false
Entity Central Index Key	0000727920
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2022	Dec. 31, 2021
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost of $68,876 and $68,636) (allowance for credit losses of $21 and $22)		$ 67,578	$ 73,076
Mortgage loans on real estate (net of allowance for credit losses of $53 and $62)		14,435	14,016
Policy loans		3,533	3,540
Other equity investments	[1]	2,850	2,759
Trading securities, at fair value		383	379
Other invested assets		1,761	2,910
Total investments		90,540	96,680
Cash and cash equivalents		2,889	1,815
Deferred policy acquisition costs		4,827	4,267
Amounts due from reinsurers (allowance for credit losses of $5 and $5 ) (includes amounts accounted for at fair value of $5,056 and $5,813)	[2]	12,693	13,300
Loans to affiliates		1,900	1,900
GMIB reinsurance contract asset, at fair value		1,742	2,068
Current and deferred income taxes		1,713	842
Other assets		3,504	3,023
Separate Accounts assets		133,522	143,912
Total Assets		253,330	267,807
LIABILITIES
Policyholders’ account balances		75,640	75,467
Future policy benefits and other policyholders' liabilities		34,702	36,851
Broker-dealer related payables		1,377	630
Amounts due to reinsurers		105	135
Current and deferred income taxes		0	0
Other liabilities		2,373	2,078
Separate Accounts liabilities		133,522	143,912
Total Liabilities		247,719	259,073
Redeemable noncontrolling interest	[3]	29	28
Commitments and contingent liabilities (Note 11)
Equity attributable to Equitable Financial:
Common stock, $1.25 par value; 2,000,000 shares authorized, issued and outstanding		2	2
Additional paid-in capital		8,530	8,546
Accumulated deficit		(1,791)	(2,199)
Accumulated other comprehensive income (loss)		(1,159)	2,357
Total Equity		5,582	8,706
Total Liabilities, Redeemable Noncontrolling Interest and Equity		$ 253,330	$ 267,807
[1]	See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.
[2]	Represents the fair value of the ceded reserves to Venerable. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction and Note 7 of the Notes to these Consolidated Financial Statements.
[3]	See Note 11 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Fixed maturities available-for-sale, amortized cost	$ 68,876	$ 68,636
Fixed maturities available-for-sale, allowance for credit losses	21	22
Mortgage loans on real estate, valuation allowances	53	62
Reinsurance recoverable, allowance for credit loss	5	5
Reinsurance recoverable, fair value	$ 5,056	$ 5,813
Common stock par value (in dollars per share)	$ 1.25	$ 1.25
Common stock authorized (in shares)	2,000,000	2,000,000
Common stock issued (in shares)	2,000,000	2,000,000
Common stock outstanding (in shares)	2,000,000	2,000,000

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
REVENUES
Policy charges and fee income	$ 767	$ 880
Premiums	189	205
Net derivative gains (losses)	745	(2,778)
Net investment income (loss)	755	836
Investment gains (losses), net:
Credit losses on available-for-sale debt securities and loans	10	1
Other investment gains (losses), net	(332)	182
Total investment gains (losses), net	(322)	183
Investment management and service fees	193	283
Other income	22	14
Total revenues	2,349	(377)
BENEFITS AND OTHER DEDUCTIONS
Policyholders’ benefits	945	823
Interest credited to policyholders’ account balances	292	270
Compensation and benefits	45	81
Commissions	171	182
Interest expense	0	1
Amortization of deferred policy acquisition costs	149	62
Other operating costs and expenses	267	399
Total benefits and other deductions	1,869	1,818
Income (loss) from continuing operations, before income taxes	480	(2,195)
Income tax (expense) benefit	(66)	587
Net income (loss)	414	(1,608)
Less: Net income (loss) attributable to the noncontrolling interest	(1)	0
Net income (loss) attributable to Equitable Financial	$ 415	$ (1,608)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
COMPREHENSIVE INCOME (LOSS)
Net income (loss)		$ 414	$ (1,608)
Other comprehensive income (loss), net of income taxes:
Change in unrealized gains (losses), net of adjustment	[1]	(3,516)	(3,114)
Other comprehensive income (loss), net of income taxes		(3,516)	(3,114)
Comprehensive income (loss)		(3,102)	(4,722)
Less: Comprehensive income (loss) attributable to the noncontrolling interest	[1]	(1)	0
Comprehensive income (loss) attributable to Equitable Financial		$ (3,101)	$ (4,722)
[1]	See Note 10 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interest
Beginning balance at Dec. 31, 2020	$ 11,643	$ 11,643	$ 2	$ 7,841	$ (795)	$ 4,595	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,608)	(1,608)			(1,608)
Other comprehensive income (loss)	(3,114)	(3,114)				(3,114)
Other	(14)	(14)		(14)			0
Ending balance at Mar. 31, 2021	6,907	6,907	2	7,827	(2,403)	1,481	0
Beginning balance at Dec. 31, 2021	8,706	8,706	2	8,546	(2,199)	2,357	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	415	415			415
Other comprehensive income (loss)	(3,516)	(3,516)				(3,516)
Other	(23)	(23)		(16)	(7)
Ending balance at Mar. 31, 2022	$ 5,582	$ 5,582	$ 2	$ 8,530	$ (1,791)	$ (1,159)	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Cash Flows [Abstract]
Net income (loss)	$ 414	$ (1,608)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Interest credited to policyholders’ account balances	292	270
Policy charges and fee income	(767)	(880)
Net derivative (gains) losses	(745)	2,778
Credit losses on AFS debt securities and loans	(10)	(1)
Investment (gains) losses, net	332	(182)
Realized and unrealized (gains) losses on trading securities	16	27
Non-cash long-term incentive compensation expense	13	15
Amortization and depreciation	123	68
Equity (income) loss from limited partnerships	(93)	(107)
Changes in:
Reinsurance recoverable	(353)	(130)
Capitalization of deferred policy acquisition costs	(182)	(157)
Future policy benefits	177	19
Current and deferred income taxes	64	(590)
Other, net	(216)	281
Net cash provided by (used in) operating activities	(935)	(197)
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	8,478	9,151
Mortgage loans on real estate	280	245
Trading account securities	36	709
Real estate joint ventures	0	0
Short-term investments	0	18
Other	89	775
Payment for the purchase/origination of:
Fixed maturities, available-for-sale	(8,109)	(9,939)
Mortgage loans on real estate	(688)	(353)
Trading account securities	(55)	(61)
Short-term investments	0	(5)
Other	(181)	(1,225)
Cash settlements related to derivative instruments, net	302	(2,980)
Issuance of loans to affiliates	0	0
Repayments of loans to affiliates	0	0
Investment in capitalized software, leasehold improvements and EDP equipment	7	(8)
Other, net	55	198
Net cash provided by (used in) investing activities	214	(3,475)
Cash flows from financing activities:
Deposits	3,041	7,101
Withdrawals	(2,232)	(1,478)
Transfer (to) from Separate Accounts	500	526
Change in collateralized pledged assets	(39)	(1,393)
Change in collateralized pledged liabilities	548	93
Purchase (redemption) of noncontrolling interests of consolidated company-sponsored investment funds	2	7
Repayment of loans from affiliates	0	0
Other, net	(25)	(10)
Net cash provided by (used in) financing activities	1,795	4,846
Change in cash and cash equivalents	1,074	1,174
Cash and cash equivalents, beginning of year	1,815	2,043
Cash and cash equivalents, end of year	2,889	3,217
Non-cash transactions from investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations	$ 0	$ 0

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2022
Organization [Abstract]
ORGANIZATION	ORGANIZATION Equitable Financial’s (collectively with its consolidated subsidiaries, the “Company”) primary business is providing variable annuity, life insurance and employee benefit products to both individuals and businesses. The Company is an indirect, wholly-owned subsidiary of Holdings. Equitable Financial is a stock life insurance company organized in 1859 under the laws of the State of New York. The Company’s two principal subsidiaries include Equitable Distributors, LLC (“Equitable Distributors”) and Equitable Investment Management Group, LLC (“EIMG”), which both are wholly-owned indirect subsidiaries of Holdings. On June 1, 2021, Holdings completed the sale (the “Venerable Transaction”) of CS Life to Venerable Insurance and Annuity Company, an insurance company domiciled in Iowa (“VIAC”), pursuant to the Master Transaction Agreement, dated October 27, 2020 (the “Master Transaction Agreement”), among the Company, VIAC and, solely with respect to Article XIV thereof, Venerable Holdings, Inc., a Delaware corporation (“Venerable”). VIAC issued a surplus note in aggregate principal amount of $60 million, to Equitable Financial for cash consideration. Immediately following the closing of the Venerable Transaction, CS Life and Equitable Financial entered into a coinsurance and modified coinsurance agreement (the “Reinsurance Agreement”), pursuant to which Equitable Financial ceded to CS Life, on a combined coinsurance and modified coinsurance basis, the Block, comprised of non-New York “Accumulator” policies containing fixed rate Guaranteed Minimum Income Benefit and/or Guaranteed Minimum Death Benefit guarantees. At the closing of the Transaction, CS Life deposited assets supporting the general account liabilities relating to the Block into a trust account for the benefit of Equitable Financial, which assets will secure its obligations to Equitable Financial under the Reinsurance Agreement. The Company transferred assets of $9.5 billion, including primarily available for sale securities and cash, to a collateral trust account as the consideration for the reinsurance transaction. In addition, the Company recorded $9.6 billion of direct insurance liabilities ceded under the reinsurance contract, of which $5.3 billion is accounted at fair value, as the reinsurance of GMxB with no lapse guarantee riders are embedded derivatives. Additionally, $16.9 billion of Separate Account liabilities were ceded under a modified coinsurance portion of the agreement. In addition, upon the completion of the Venerable Transaction, EIMG acquired an approximate 9.09% equity interest in Venerable’s parent holding company, VA Capital Company LLC. In connection with such investment, EIMG designated a member to the Board of Managers of VA Capital Company LLC.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “first quarter 2022” and “first quarter 2021” refer to the three months ended March 31, 2022 and 2021, respectively. The terms “first three months of 2022” and “first three months of 2021” refer to the three months ended March 31, 2022 and 2021, respectively. Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of March 31, 2022, and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2020-11: Financial Services - Insurance (Topic 944): Effective Date and Early Application This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. The ASU also prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts. 2. Measurement of MRBs. MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU 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. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. In November 2020, the FASB issued ASU 2020-11 which deferred the effective date of the amendments in ASU 2018-12 for all insurance entities. ASU 2018-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is allowed. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. The Company continues to progress with implementation efforts and the evaluation of the impact that adoption of this guidance will have on the Company’s consolidated financial statements. Due to its extensive nature, the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial statements, as well as systems, processes and controls. Effective January 1, 2023, the new guidance will be adopted using the modified retrospective approach, except for MRBs which will use the full retrospective approach. The Company has created a governance framework and implementation plan to ensure timely adoption of the guidance. In preparation for implementation, the Company continues to refine key accounting policy decisions, modernize processes and update internal controls. These changes include modifications of actuarial valuation systems, data sourcing, analytical procedures and reporting processes. The impact on total equity of applying this ASU is estimated to be slightly positive to the current amount of reported total equity as of March 31, 2022. As of March 31, 2022, a positive impact to AOCI is expected due to increases in the Company’s estimate of its non-performance risk on variable annuity guarantees accounted for as MRBs for the first time under the guidance. The estimated impact to the retained earnings element of total equity as of March 31, 2022, due to accounting for variable annuity guarantees as MRBs that are not currently measured at fair value, is mitigated by the Company’s present use of a near industry low interest rate assumption of 2.25% on GMIB business. Because movements in equity markets, interest rates and credit spreads are unpredictable and at times volatile, it is possible that the estimated effects of adoption could change materially between March 31, 2022 and January 1, 2023. Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs As of March 31, 2022, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIE model. Included in Other invested assets and Mortgage loans on real estate in the Company’s consolidated balance sheets at March 31, 2022 and December 31, 2021 are total assets of $222 million and $169 million, respectively related to these VIE. Non-Consolidated VIEs As of March 31, 2022 and December 31, 2021, respectively, the Company held approximately $2.2 billion and $2.1 billion of investment assets in the form of equity interests issued by non-corporate legal entities determined under the guidance to be VIEs, such as limited partnerships and limited liability companies, including CLOs, hedge funds, private equity funds and real estate-related funds. As an equity investor, the Company is considered to have a variable interest in each of these VIEs as a result of its participation in the risks and/or rewards these funds were designed to create by their defined portfolio objectives and strategies. Primarily through qualitative assessment, including consideration of related party interests or other financial arrangements, if any, the Company was not identified as primary beneficiary of any of these VIEs, largely due to its inability to direct the activities that most significantly impact their economic performance. Consequently, the Company continues to reflect these equity interests in the consolidated balance sheets as other equity investments and applies the equity method of accounting for these positions. The net assets of these non-consolidated VIEs are approximately $259.1 billion and $245.7 billion as of March 31, 2022 and December 31, 2021, respectively. The Company’s maximum exposure to loss from its direct involvement with these VIEs is the carrying value of its investment of $2.2 billion and $2.1 billion and approximately $1.2 billion and $1.2 billion of unfunded commitments as of March 31, 2022 and December 31, 2021, respectively. The Company has no further economic interest in these VIEs in the form of guarantees, derivatives, credit enhancements or similar instruments and obligations. Assumption Updates and Model Changes The Company conducts its annual review of its assumptions and models during the third quarter of each year. The annual review encompasses assumptions underlying the valuation of unearned revenue liabilities, embedded derivatives for our insurance business, liabilities for future policyholder benefits, DAC and DSI assets. However, the Company updates its assumptions as needed in the event it becomes aware of economic conditions or events that could require a change in assumptions that it believes may have a significant impact to the carrying value of product liabilities and assets and consequently materially impact its earnings in the period of the change. There were no material assumption updates or model changes in the first quarters of 2022 or 2021.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS Fixed Maturities AFS The components of fair value and amortized cost for fixed maturities classified as AFS on the consolidated balance sheets excludes accrued interest receivable because the Company elected to present accrued interest receivable within other assets. Accrued interest receivable on AFS fixed maturities as of March 31, 2022 and December 31, 2021 was $518 million and $470 million, respectively. There was no accrued interest written off for AFS fixed maturities for the three months ended March 31, 2022 and 2021. The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) March 31, 2022 Fixed Maturities: Corporate (1) $ 47,337 $ 21 $ 602 $ 2,215 $ 45,703 U.S. Treasury, government and agency 8,577 — 712 87 9,202 States and political subdivisions 609 — 43 29 623 Foreign governments 1,120 — 17 54 1,083 Residential mortgage-backed (2) 77 — 4 — 81 Asset-backed (3) 7,497 — 9 111 7,395 Commercial mortgage-backed 3,619 — 5 181 3,443 Redeemable preferred stock 40 — 8 — 48 Total at March 31, 2022 $ 68,876 $ 21 $ 1,400 $ 2,677 $ 67,578 December 31, 2021: Fixed Maturities: Corporate (1) $ 45,578 $ 22 $ 2,382 $ 214 $ 47,724 U.S. Treasury, government and agency 13,032 — 2,196 14 15,214 States and political subdivisions 527 — 73 3 597 Foreign governments 1,124 — 42 14 1,152 Residential mortgage-backed (2) 82 — 8 — 90 Asset-backed (3) 5,904 — 20 19 5,905 Commercial mortgage-backed 2,348 — 19 26 2,341 Redeemable preferred stock 41 — 12 — 53 Total at December 31, 2021 $ 68,636 $ 22 $ 4,752 $ 290 $ 73,076 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. The contractual maturities of AFS fixed maturities as of March 31, 2022 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) March 31, 2022: Contractual maturities: Due in one year or less $ 854 $ 852 Due in years two through five 13,714 13,631 Due in years six through ten 16,998 16,629 Due after ten years 26,056 25,499 Subtotal 57,622 56,611 Residential mortgage-backed 77 81 Asset-backed 7,497 7,395 Commercial mortgage-backed 3,619 3,443 Redeemable preferred stock 40 48 Total at March 31, 2022 $ 68,855 $ 67,578 The following table shows proceeds from sales, gross gains (losses) from sales and credit losses for AFS fixed maturities for the three months ended March 31, 2022 and 2021: Proceeds from Sales, Gross Gains (Losses) from Sales and Credit Losses for AFS Fixed Maturities Three Months Ended March 31, 2022 2021 (in millions) Proceeds from sales $ 7,336 $ 7,188 Gross gains on sales $ 29 $ 291 Gross losses on sales $ (361) $ (116) Credit losses $ 1 $ (6) The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit Loss Impairments Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ 42 $ 28 Previously recognized impairments on securities that matured, paid, prepaid or sold (2) — Recognized impairments on securities impaired to fair value this period (1) — — Credit losses recognized this period on securities for which credit losses were not previously recognized — 2 Additional credit losses this period on securities previously impaired 1 4 Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — Balance at March 31, $ 41 $ 34 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost. The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2022 $ 4,462 $ (284) $ (977) $ (673) $ 2,528 Net investment gains (losses) arising during the period (6,065) — — — (6,065) Reclassification adjustment: — Included in net income (loss) 331 — — — 331 Excluded from net income (loss) — — — — — Other — — — — — Impact of net unrealized investment gains (losses) — 527 765 934 2,226 Net unrealized investment gains (losses) excluding credit losses (1,272) 243 (212) 261 (980) Net unrealized investment gains (losses) with credit losses (5) 1 (1) 1 (4) Balance, March 31, 2022 $ (1,277) $ 244 $ (213) $ 262 $ (984) Balance, January 1, 2021 $ 8,230 $ (466) $ (1,814) $ (1,250) $ 4,700 Net investment gains (losses) arising during the period (4,891) — — — (4,891) Reclassification adjustment: — Included in Net income (loss) (176) — — — (176) Excluded from Net income (loss) — — — — — Other (1) (31) — — — (31) Impact of net unrealized investment gains (losses) — 164 1,001 826 1,991 Net unrealized investment gains (losses) excluding credit losses 3,132 (302) (813) (424) 1,593 Net unrealized investment gains (losses) with credit losses (8) 1 2 1 (4) Balance, March 31, 2021 $ 3,124 $ (301) $ (811) $ (423) $ 1,589 (1) Effective January 1, 2021, certain preferred stock have been reclassified to other equity investments The following tables disclose the fair values and gross unrealized losses of the 7,799 issues as of March 31, 2022 and the 1,896 issues as of December 31, 2021 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) March 31, 2022 Fixed Maturities: Corporate $ 26,224 $ 1,966 $ 2,406 $ 245 $ 28,630 $ 2,211 U.S. Treasury, government and agency 2,753 77 92 10 2,845 87 States and political subdivisions 225 26 12 3 237 29 Foreign governments 606 39 120 15 726 54 Asset-backed 6,203 108 178 3 6,381 111 Commercial mortgage-backed 2,787 162 165 19 2,952 181 Total at March 31, 2022 $ 38,798 $ 2,378 $ 2,973 $ 295 $ 41,771 $ 2,673 December 31, 2021: Fixed Maturities: Corporate $ 9,497 $ 150 $ 1,301 $ 62 $ 10,798 $ 212 U.S. Treasury, government and agency 947 10 103 4 1,050 14 States and political subdivisions 112 2 11 1 123 3 Foreign governments 349 6 92 8 441 14 Asset-backed 3,843 19 38 — 3,881 19 Commercial mortgage-backed 1,515 22 96 4 1,611 26 Total at December 31, 2021 $ 16,263 $ 209 $ 1,641 $ 79 $ 17,904 $ 288 The Company’s investments in fixed maturities do not include concentrations of credit risk of any single issuer greater than 10% of the consolidated equity of the Company, other than securities of the U.S. government, U.S. government agencies, and certain securities guaranteed by the U.S. government. The Company maintains a diversified portfolio of corporate securities across industries and issuers and does not have exposure to any single issuer in excess of 0.6% of total corporate securities. The largest exposures to a single issuer of corporate securities held as of March 31, 2022 and December 31, 2021 were $253 million and $280 million, respectively, representing 4.5% and 3.2% of the consolidated equity of the Company. Corporate high yield securities, consisting primarily of public high yield bonds, are classified as other than investment grade by the various rating agencies, i.e., a rating below Baa3/BBB- or the National Association of Insurance Commissioners (“NAIC”) designation of 3 (medium investment grade), 4 or 5 (below investment grade) or 6 (in or near default). As of March 31, 2022 and December 31, 2021, respectively, approximately $3.0 billion and $2.8 billion, or 4.3% and 4.1%, of the $68.9 billion and $68.6 billion aggregate amortized cost of fixed maturities held by the Company were considered to be other than investment grade. These securities had gross unrealized losses of $79 million and $18 million as of March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022 and December 31, 2021, respectively, the $295 million and $79 million of gross unrealized losses of twelve months or more were primarily concentrated in corporate securities. In accordance with the policy described in Note 2 of t he Notes to these Consolidated Financial Statements, the Company concluded that an adjustment to allowance for credit losses for these securities was not warranted at either March 31, 2022 or December 31, 2021. As of March 31, 2022 and December 31, 2021, the Company did not intend to sell the securities nor will it likely be required to dispose of the securities before the anticipated recovery of their remaining amortized cost basis. Based on the Company’s evaluation both qualitatively and quantitatively of the drivers of the decline in fair value of fixed maturity securities as of March 31, 2022, the Company determined that the unrealized loss was primarily due to increases in credit spreads and changes in credit ratings. Mortgage Loans on Real Estate Accrued interest receivable on commercial and agricultural mortgage loans as of March 31, 2022 and December 31, 2021 was $58 million and $57 million, respectively. There was no accrued interest written off for commercial and agricultural mortgage loans for the three months ended March 31, 2022 and 2021. As of March 31, 2022, the Company had no loans for which foreclosure was probable included within the individually assessed mortgage loans, and accordingly had no associated allowance for credit losses. Allowance for Credit Losses on Mortgage Loans The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 57 $ 77 Current-period provision for expected credit losses (10) (7) Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance (10) (7) Balance, end of period $ 47 $ 70 Agricultural mortgages: Balance, beginning of period $ 5 $ 4 Current-period provision for expected credit losses 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance 1 — Balance, end of period $ 6 $ 4 Total allowance for credit losses $ 53 $ 74 The change in the allowance for credit losses is attributable to: • increases/decreases in the loan balance due to new originations, maturing mortgages, and loan amortization; • changes in credit quality; and • changes in market assumptions primarily related to COVID-19 driven economic changes. Credit Quality Information The following tables summarize the Company’s mortgage loans segregated by risk rating exposure as of March 31, 2022 and December 31, 2021. LTV Ratios (1) March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ — $ 184 $ 1,187 $ 1,371 50% - 70% 450 1,915 1,361 418 619 3,166 7,929 70% - 90% 140 243 236 412 414 1,100 2,545 90% plus — — — — 35 — 35 Total commercial $ 590 $ 2,158 $ 1,597 $ 830 $ 1,252 $ 5,453 $ 11,880 Agricultural: 0% - 50% $ 47 $ 180 $ 214 $ 122 $ 139 $ 835 $ 1,537 50% - 70% 70 196 261 92 96 337 1,052 70% - 90% 1 — — — — 18 19 90% plus — — — — — — — Total agricultural $ 118 $ 376 $ 475 $ 214 $ 235 $ 1,190 $ 2,608 Total mortgage loans: 0% - 50% $ 47 $ 180 $ 214 $ 122 $ 323 $ 2,022 $ 2,908 50% - 70% 520 2,111 1,622 510 715 3,503 8,981 70% - 90% 141 243 236 412 414 1,118 2,564 90% plus — — — — 35 — 35 Total mortgage loans $ 708 $ 2,534 $ 2,072 $ 1,044 $ 1,487 $ 6,643 $ 14,488 Debt Service Coverage Ratios (2) March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 197 $ 1,143 $ 1,259 $ 210 $ 772 $ 2,246 $ 5,827 1.8x to 2.0x 94 186 135 322 46 743 1,526 1.5x to 1.8x 261 274 109 223 215 1,244 2,326 1.2x to 1.5x — 264 — 75 47 778 1,164 1.0x to 1.2x 38 291 94 — 88 370 881 Less than 1.0x — — — — 84 72 156 Total commercial $ 590 $ 2,158 $ 1,597 $ 830 $ 1,252 $ 5,453 $ 11,880 Agricultural: Greater than 2.0x $ 18 $ 48 $ 63 $ 23 $ 12 $ 226 $ 390 1.8x to 2.0x 8 51 37 25 14 73 208 1.5x to 1.8x 26 43 113 28 23 217 450 1.2x to 1.5x 23 157 178 101 108 376 943 1.0x to 1.2x 37 76 80 31 74 284 582 Less than 1.0x 6 1 4 6 4 14 35 Total agricultural $ 118 $ 376 $ 475 $ 214 $ 235 $ 1,190 $ 2,608 March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Total mortgage loans: Greater than 2.0x $ 215 $ 1,191 $ 1,322 $ 233 $ 784 $ 2,472 $ 6,217 1.8x to 2.0x 102 237 172 347 60 816 1,734 1.5x to 1.8x 287 317 222 251 238 1,461 2,776 1.2x to 1.5x 23 421 178 176 155 1,154 2,107 1.0x to 1.2x 75 367 174 31 162 654 1,463 Less than 1.0x 6 1 4 6 88 86 191 Total mortgage loans $ 708 $ 2,534 $ 2,072 $ 1,044 $ 1,487 $ 6,643 $ 14,488 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. LTV Ratios (1) December 31, 2021 Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ 184 $ 293 $ 992 $ 1,469 50% - 70% 1,967 1,334 407 619 491 2,533 7,351 70% - 90% 190 236 412 415 276 972 2,501 90% plus — — — 35 5 73 113 Total commercial $ 2,157 $ 1,570 $ 819 $ 1,253 $ 1,065 $ 4,570 $ 11,434 Agricultural: 0% - 50% $ 180 $ 212 $ 128 $ 129 $ 119 $ 738 $ 1,506 50% - 70% 200 268 102 126 87 338 1,121 70% - 90% — — — — — 17 17 90% plus — — — — — — — Total agricultural $ 380 $ 480 $ 230 $ 255 $ 206 $ 1,093 $ 2,644 Total mortgage loans: 0% - 50% $ 180 $ 212 $ 128 $ 313 $ 412 $ 1,730 $ 2,975 50% - 70% 2,167 1,602 509 745 578 2,871 8,472 70% - 90% 190 236 412 415 276 989 2,518 90% plus — — — 35 5 73 113 Total mortgage loans $ 2,537 $ 2,050 $ 1,049 $ 1,508 $ 1,271 $ 5,663 $ 14,078 Debt Service Coverage Ratios (2) December 31, 2021 Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 1,143 $ 1,243 $ 210 $ 772 $ 485 $ 2,218 $ 6,071 1.8x to 2.0x 185 135 250 46 161 372 1,149 1.5x to 1.8x 275 97 284 211 166 919 1,952 1.2x to 1.5x 264 95 75 101 253 701 1,489 1.0x to 1.2x 290 — — 88 — 287 665 Less than 1.0x — — — 35 — 73 108 Total commercial $ 2,157 $ 1,570 $ 819 $ 1,253 $ 1,065 $ 4,570 $ 11,434 Agricultural: Greater than 2.0x $ 49 $ 64 $ 25 $ 22 $ 24 $ 210 $ 394 1.8x to 2.0x 52 37 25 14 14 70 212 1.5x to 1.8x 43 113 28 22 41 193 440 1.2x to 1.5x 161 179 112 116 72 355 995 1.0x to 1.2x 75 83 31 77 54 226 546 Less than 1.0x — 4 9 4 1 39 57 Total agricultural $ 380 $ 480 $ 230 $ 255 $ 206 $ 1,093 $ 2,644 Total mortgage loans: Greater than 2.0x $ 1,192 $ 1,307 $ 235 $ 794 $ 509 $ 2,428 $ 6,465 1.8x to 2.0x 237 172 275 60 175 442 1,361 1.5x to 1.8x 318 210 312 233 207 1,112 2,392 1.2x to 1.5x 425 274 187 217 325 1,056 2,484 1.0x to 1.2x 365 83 31 165 54 513 1,211 Less than 1.0x — 4 9 39 1 112 165 Total mortgage loans $ 2,537 $ 2,050 $ 1,049 $ 1,508 $ 1,271 $ 5,663 $ 14,078 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. Past-Due and Nonaccrual Mortgage Loan Status The following table provides information relating to the aging analysis of past-due mortgage loans as of March 31, 2022 and December 31, 2021, respectively: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) March 31, 2022: Mortgage loans: Commercial $ — $ — $ — $ — $ 11,880 $ 11,880 $ — $ 11,880 $ — $ — Agricultural 9 7 30 46 2,546 2,592 16 2,608 — — Total $ 9 $ 7 $ 30 $ 46 $ 14,426 $ 14,472 $ 16 $ 14,488 $ — $ — December 31, 2021: Mortgage loans: Commercial $ — $ — $ — $ — $ 11,434 $ 11,434 $ — $ 11,434 $ — $ — Agricultural 1 1 25 27 2,601 2,628 16 2,644 — — Total $ 1 $ 1 $ 25 $ 27 $ 14,035 $ 14,062 $ 16 $ 14,078 $ — $ — _______________ (1) Amounts presented at amortized cost basis. As of March 31, 2022 and December 31, 2021, the carrying values of problem mortgage loans that had been classified as non-accrual loans were $14 million and $14 million, respectively. Troubled Debt Restructuring During the three months ended March 31, 2022 and 2021, there were no mortgage loans on real estate or fixed maturities accounted for as a TDR. Equity Securities The table below presents a breakdown of unrealized and realized gains and (losses) on equity securities during the three months ended March 31, 2022 and 2021. Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended March 31, 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (39) $ 17 Net investment gains (losses) recognized on securities sold during the period (11) (6) Unrealized and realized gains (losses) on equity securities $ (50) $ 11 Trading Securities As of March 31, 2022 and December 31, 2021, respectively, the fair value of the Company’s trading securities was $383 million and $379 million. As of March 31, 2022 and December 31, 2021, respectively, trading securities included the General Account’s investment in Separate Accounts had carrying values of $39 million and $44 million. The table below shows a breakdown of net investment income (loss) from trading securities during the three months ended March 31, 2022 and 2021: Net Investment Income (Loss) from Trading Securities Three Months Ended March 31, 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (16) $ (49) Net investment gains (losses) recognized on securities sold during the period — 22 Unrealized and realized gains (losses) on trading securities (16) (27) Interest and dividend income from trading securities 2 36 Net investment income (loss) from trading securities $ (14) $ 9

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivatives as part of its overall asset/liability risk management primarily to reduce exposures to equity market and interest rate risks. Derivative hedging strategies are designed to reduce these risks from an economic perspective and are all executed within the framework of a “Derivative Use Plan” approved by applicable states’ insurance law. Derivatives are generally not accounted for using hedge accounting, with the exception of TIPS and cash flow hedges, which are discussed further below. Operation of these hedging programs is based on models involving numerous estimates and assumptions, including, among others, mortality, lapse, surrender and withdrawal rates, election rates, fund performance, market volatility and interest rates. A wide range of derivative contracts are used in these hedging programs, including exchange traded equity, currency and interest rate futures contracts, total return and/or other equity swaps, interest rate swap and floor contracts, bond and bond-index total return swaps, swaptions, variance swaps and equity options, credit and foreign exchange derivatives, as well as bond and repo transactions to support the hedging. The derivative contracts are collectively managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in capital markets. In addition, as part of its hedging strategy, the Company targets an asset level for all variable annuity products at or above a CTE98 level under most economic scenarios (CTE is a statistical measure of tail risk which quantifies the total asset requirement to sustain a loss if an event outside a given probability level has occurred. CTE98 denotes the financial resources a company would need to cover the average of the worst 2% of scenarios.) Derivatives Utilized to Hedge Exposure to Variable Annuities with Guarantee Features The Company has issued and continues to offer variable annuity products with GMxB features. The risk associated with the GMDB feature is that under-performance of the financial markets could result in GMDB benefits, in the event of death, being higher than what accumulated policyholders’ account balances would support. The risk associated with the GMIB feature is that under-performance of the financial markets could result in the present value of GMIB, in the event of annuitization, being higher than what accumulated policyholders’ account balances would support, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. The risk associated with products that have a GMxB derivative features liability is that under-performance of the financial markets could result in the GMxB derivative features’ benefits being higher than what accumulated policyholders’ account balances would support. For GMxB features, the Company retains certain risks including basis, credit spread and some volatility risk and risk associated with actual experience versus expected actuarial assumptions for mortality, lapse and surrender, withdrawal and policyholder election rates, among other things. The derivative contracts are managed to correlate with changes in the value of the GMxB features that result from financial markets movements. A portion of exposure to realized equity volatility is hedged using equity options and variance swaps and a portion of exposure to credit risk is hedged using total return swaps on fixed income indices. Additionally, the Company is party to total return swaps for which the reference U.S. Treasury securities are contemporaneously purchased from the market and sold to the swap counterparty. As these transactions result in a transfer of control of the U.S. Treasury securities to the swap counterparty, the Company derecognizes these securities with consequent gain or loss from the sale. The Company has also purchased reinsurance contracts to mitigate the risks associated with GMDB features and the impact of potential market fluctuations on future policyholder elections of GMIB features contained in certain annuity contracts issued by the Company. The reinsurance of the GMIB features is accounted for as a derivative. In addition, on June 1, 2021, we ceded legacy variable annuity policies sold by the Company between 2006-2008 (the “Block”), comprised of non-New York “Accumulator” policies containing fixed rate GMIB and/or GMDB guarantees. As this contract provides full risk transfer and therefore has the same risk attributes as the underlying direct contracts, the benefits of this treaty are accounted for in the same manner as the underlying gross reserves and therefore the Amounts Due from Reinsurers related to the GMIB with NLG are accounted for as an embedded derivative. The Company has in place an economic hedge program using interest rate swaps and U.S. Treasury futures to partially protect the overall profitability of future variable annuity sales against declining interest rates. Derivatives Utilized to Hedge Crediting Rate Exposure on SCS, SIO, MSO and IUL Products/Investment Options The Company hedges crediting rates in the SCS variable annuity, SIO in the EQUI-VEST variable annuity series, MSO in the variable life insurance products and IUL insurance products. These products permit the contract owner to participate in the performance of an index, ETF or commodity price movement up to a cap for a set period of time. They also contain a protection feature, in which the Company will absorb, up to a certain percentage, the loss of value in an index, ETF or commodity price, which varies by product segment. In order to support the returns associated with these features, the Company enters into derivative contracts whose payouts, in combination with fixed income investments, emulate those of the index, ETF or commodity price, subject to caps and buffers, thereby substantially reducing any exposure to market-related earnings volatility. Derivatives Used to Hedge Equity Market Risks Associated with the General Account’s Seed Money Investments in Retail Mutual Funds The Company’s General Account seed money investments in retail mutual funds expose us to market risk, including equity market risk which is partially hedged through equity-index futures contracts to minimize such risk. Derivatives Used for General Account Investment Portfolio The Company maintains a strategy in its General Account investment portfolio to replicate the credit exposure of fixed maturity securities otherwise permissible for investment under its investment guidelines through the sale of CDS. Under the terms of these swaps, the Company receives quarterly fixed premiums that, together with any initial amount paid or received at trade inception, replicate the credit spread otherwise currently obtainable by purchasing the referenced entity’s bonds of similar maturity. These credit derivatives generally have remaining terms of five years or less and are recorded at fair value with changes in fair value, including the yield component that emerges from initial amounts paid or received, reported in net derivative gains (losses). The Company manages its credit exposure taking into consideration both cash and derivatives based positions and selects the reference entities in its replicated credit exposures in a manner consistent with its selection of fixed maturities. In addition, the Company generally transacts the sale of CDS in single name reference entities of investment grade credit quality and with counterparties subject to collateral posting requirements. If there is an event of default by the reference entity or other such credit event as defined under the terms of the swap contract, the Company is obligated to perform under the credit derivative and, at its option, either pay the referenced amount of the contract less an auction-determined recovery amount or pay the referenced amount of the contract and receive in return the defaulted or similar security of the reference entity for recovery by sale at the contract settlement auction. The Company purchased CDS to mitigate its exposure to a reference entity through cash positions. These positions do not replicate credit spreads. To date, there have been no events of default or circumstances indicative of a deterioration in the credit quality of the named referenced entities to require or suggest that the Company will have to perform under the CDS that it sold. The maximum potential amount of future payments the Company could be required to make under the credit derivatives sold is limited to the par value of the referenced securities which is the dollar or euro-equivalent of the derivative’s notional amount. The Standard North American CDS Contract or Standard European Corporate Contract under which the Company executes these CDS sales transactions does not contain recourse provisions for recovery of amounts paid under the credit derivative. The Company purchased 30-year TIPS and other sovereign bonds, both inflation-linked and non-inflation linked, as General Account investments and enters into asset or cross-currency basis swaps, to result in payment of the given bond’s coupons and principal at maturity in the bond’s specified currency to the swap counterparty in return for fixed dollar amounts. These swaps, when considered in combination with the bonds, together result in a net position that is intended to replicate a dollar-denominated fixed-coupon cash bond with a yield higher than a term-equivalent U.S. Treasury bond. Derivatives Utilized to Hedge Exposure to Foreign Currency Denominated Cash Flows The Company purchases private placement debt securities and issues funding agreements in the FABN program in currencies other than its functional US dollar currency. The Company enters into cross currency swaps with external counterparties to hedge the exposure of the foreign currency denominated cash flows of these instruments. The foreign currency received from or paid to the cross currency swap counterparty is exchanged for fixed US dollar amounts with improved net investment yields or net product costs over equivalent US dollar denominated instruments issued at that time. The transactions are accounted for as cash flow hedges when they are designated in hedging relationships and qualify for hedge accounting. The first cross currency swap hedges were designated and applied hedge accounting during the quarter ended June 30, 2021. These cross currency swaps are for the period the foreign currency denominated private placement debt securities and funding agreement are outstanding, with the longest cross currency swap expiring in 2033. Since designation and qualification as cash flow hedges, cross currency swap interest accruals are recognized in Net investment income and in Interest credited to policyholders’ account balances. The tables below present quantitative disclosures about the Company’s derivative instruments designated in hedging relationships and derivative instruments which have not been designated in hedging relationships, including those embedded in other contracts required to be accounted for as derivative instruments. The following table presents the gross notional amount and estimated fair value of the Company’s derivatives: Derivative Instruments by Category March 31, 2022 December 31, 2021 Fair Value Fair Value Notional Derivative Assets Derivative Notional Derivative Assets Derivative (in millions) Derivatives: Designated for hedge accounting (1) Cash Flow Hedges: Currency Swaps $ 1,256 $ 11 $ 55 $ 921 $ 7 $ 42 Interest Swaps 955 — 439 955 — 395 Total: Designated for hedge accounting 2,211 11 494 1,876 7 437 Derivatives: Not designated for hedge accounting (1) Equity contracts: Futures 3,831 — — 2,213 — — Swaps 12,350 5 3 13,310 5 — Options 44,305 10,685 4,369 48,380 12,015 5,059 Interest rate contracts: Futures 11,395 — — 12,455 — — Swaps 1,876 5 115 1,876 — 45 Swaptions — — — — — — Credit contracts: Credit default swaps 607 1 3 619 2 3 Currency contracts: Currency Swaps 566 6 — 541 1 — Currency forwards — — — — — — Other freestanding contracts: Margin — 160 — — 102 — Collateral — 217 5,741 — 178 6,154 Total: Not designated for hedge accounting 74,930 11,079 10,231 79,394 12,303 11,261 March 31, 2022 December 31, 2021 Fair Value Fair Value Notional Derivative Assets Derivative Notional Derivative Assets Derivative (in millions) Embedded Derivatives: Amounts due from reinsurers (5) — 5,056 — — 5,813 — GMIB reinsurance contracts (2) — 1,742 — — 2,068 — GMxB derivative features liability (3) — — 6,924 — — 8,525 SCS, SIO, MSO and IUL indexed features (4) — — 6,018 — — 6,641 Total Embedded Derivatives — 6,798 12,942 — 7,881 15,166 Total derivative instruments $ 77,141 $ 17,888 $ 23,667 $ 81,270 $ 20,191 $ 26,864 ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (3) Reported in future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) Reported in policyholders’ account balances in the consolidated balance sheets. (5) Represents GMIB NLG ceded related to the Venerable Transaction. Derivative Instruments by Category Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Net Interest Credited To Policyholders Account Balances AOCI Net Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Designated for hedge accounting Cash flow hedges: Currency Swaps $ (4) $ (18) $ 13 $ — $ — $ — Interest Swaps (14) — (20) (4) — (6) Total: Designated for hedge accounting (18) (18) (7) (4) — (6) Derivatives: Not designated for hedge accounting Equity contracts: Futures 59 — — (293) — — Swaps 726 — — (1,270) — — Options (287) — — 1,143 — — Interest rate contracts: Futures (500) — — (947) — — Swaps (149) — — (2,912) — — Swaptions — — — — — — Credit contracts: Credit default swaps — — — 1 — — Currency contracts: Currency swaps 5 — — — — — Currency forwards — — — — — — Other freestanding contracts: Margin — — — — — — Collateral — — — — — — Total: Not designated for hedge accounting (146) — — (4,278) — — Embedded Derivatives: Amounts due from reinsurers (767) — — — — — GMIB reinsurance contracts (320) — — (724) — — GMxB derivative features liability 1,688 — — 3,357 — — SCS, SIO, MSO and IUL indexed features 311 — — (1,126) — — Total Embedded Derivatives 912 — — 1,507 — — Total derivatives instruments $ 748 $ (18) $ (7) $ (2,775) $ — $ (6) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) For the three months ended March 31, 2022 and 2021, investment fees of $3 million and $3 million respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss). The table that follow below present a roll-forward of cash flow hedges recognized in AOCI. Rollforward of Cash flow hedges in AOCI Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ (208) $ (126) Amount recorded in AOCI — — Currency Swaps (3) — Interest Swaps (39) (22) Total Amount recorded in AOCI (42) (22) Amount reclassified from AOCI to income — — Currency Swaps 16 — Interest Swaps 19 16 Total Amount reclassified from AOCI to income 35 16 Ending Balance, March 31 (1) $ (215) $ (132) ______________ (1) The Company does not estimate the amount of the deferred losses in AOCI at three months ended March 31, 2022 and 2021 which will be released and reclassified into Net income (loss) over the next 12 months as the amounts cannot be reasonably estimated. Equity-Based and Treasury Futures Contracts Margin All outstanding equity-based and treasury futures contracts as of March 31, 2022 and December 31, 2021 are exchange-traded and net settled daily in cash. As of March 31, 2022 and December 31, 2021, respectively, the Company had open exchange-traded futures positions on: (i) the S&P 500, Nasdaq, Russell 2000 and Emerging Market indices, having initial margin requirements of $180 million and $90 million, (ii) the 2-year, 5-year and 10-year U.S. Treasury Notes on U.S. Treasury bonds and ultra-long bonds, having initial margin requirements of $180 million and $196 million, and (iii) the Euro Stoxx, FTSE 100, Topix, ASX 200 and EAFE indices as well as corresponding currency futures on the Euro/U.S. dollar, Pound/U.S. dollar, Australian dollar/U.S. dollar, and Yen/U.S. dollar, having initial margin requirements of $16 million and $16 million. Collateral Arrangements The Company generally has executed a CSA under the ISDA Master Agreement it maintains with each of its OTC derivative counterparties that requires both posting and accepting collateral either in the form of cash or high-quality securities, such as U.S. Treasury securities, U.S. government and government agency securities and investment grade corporate bonds. The Company nets the fair value of all derivative financial instruments with counterparties for which an ISDA Master Agreement and related CSA have been executed. As of March 31, 2022 and December 31, 2021, respectively, the Company held $5.7 billion and $6.2 billion in cash and securities collateral delivered by trade counterparties, representing the fair value of the related derivative agreements. The unrestricted cash collateral is reported in other invested assets. The Company posted collateral of $217 million and $178 million as of March 31, 2022 and December 31, 2021, respectively, in the normal operation of its collateral arrangements. The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments as of March 31, 2022 and December 31, 2021: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of March 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 11,091 $ 10,582 $ 509 $ — $ 509 Other financial assets 1,252 — 1,252 — 1,252 Other invested assets $ 12,343 $ 10,582 $ 1,761 $ — $ 1,761 Liabilities: Derivative liabilities $ 10,725 $ 10,582 $ 143 $ — $ 143 Other financial liabilities 2,230 — 2,230 — 2,230 Other liabilities $ 12,955 $ 10,582 $ 2,373 $ — $ 2,373 ______________ (1) Financial instruments sent (held). As of December 31, 2021 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 12,309 $ 10,724 $ 1,585 $ (961) $ 624 Other financial assets 1,325 — 1,325 — 1,325 Other invested assets $ 13,634 $ 10,724 $ 2,910 $ (961) $ 1,949 Liabilities: Derivative liabilities $ 10,738 $ 10,724 $ 14 $ — $ 14 Other financial liabilities 2,064 — 2,064 — 2,064 Other liabilities $ 12,802 $ 10,724 $ 2,078 $ — $ 2,078 ______________ (1) Financial instruments sent (held).

CLOSED BLOCK

CLOSED BLOCK	3 Months Ended
	Mar. 31, 2022
Closed Block Disclosure [Abstract]
CLOSED BLOCK	CLOSED BLOCKAs a result of demutualization, the Company’s Closed Block was established in 1992 for the benefit of certain individual participating policies that were in force on that date. Assets, liabilities and earnings of the Closed Block are specifically identified to support its participating policyholders.Assets allocated to the Closed Block inure solely to the benefit of the Closed Block policyholders and will not revert to the benefit of the Company. No reallocation, transfer, borrowing or lending of assets can be made between the Closed Block and other portions of the Company’s General Account, any of its Separate Accounts or any affiliate of the Company without the approval of the New York State Department of Financial Services (the “NYDFS”). Closed Block assets and liabilities are carried on the same basis as similar assets and liabilities held in the General Account. For more information on the Closed Block, see Note 5 to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2021 Summarized financial information for the Company’s Closed Block is as follows: March 31, 2022 December 31, 2021 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,866 $ 5,928 Policyholder dividend obligation — — Other liabilities 8 39 Total Closed Block liabilities 5,874 5,967 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $3,198 and $3,185) (allowance for credit losses of $0 and $0) 3,200 3,390 Mortgage loans on real estate (net of allowance for credit losses of $3 and $4) 1,693 1,771 Policy loans 595 602 Cash and other invested assets 110 63 Other assets 49 90 Total assets designated to the Closed Block 5,647 5,916 Excess of Closed Block liabilities over assets designated to the Closed Block 227 51 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $0 and $(43) 12 172 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 239 $ 223 The Company’s Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2022 2021 (in millions) Revenues: Premiums and other income $ 33 $ 39 Net investment income (loss) 58 60 Investment gains (losses), net 1 — Total revenues 92 99 Benefits and Other Deductions: Policyholders’ benefits and dividends 76 106 Other operating costs and expenses — 1 Total benefits and other deductions 76 107 Net income (loss), before income taxes 16 (8) Income tax (expense) benefit 1 (1) Net income (loss) $ 17 $ (9) A reconciliation of the Company’s policyholder dividend obligation follows: Three Months Ended March 31, 2022 2021 (in millions) Beginning balance $ — $ 160 Unrealized investment gains (losses) — (132) Ending balance $ — $ 28

INSURANCE LIABILITIES

INSURANCE LIABILITIES	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
INSURANCE LIABILITIES	INSURANCE LIABILITIES Variable Annuity Contracts – GMDB, GMIB, GIB and GWBL and Other Features The Company has certain variable annuity contracts with GMDB, GMIB, GIB and GWBL and other features in-force that guarantee one of the following: • Return of Premium: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals); • Ratchet: the benefit is the greatest of current account value, premiums paid (adjusted for withdrawals), or the highest account value on any anniversary up to contractually specified ages (adjusted for withdrawals); • Roll-Up: the benefit is the greater of current account value or premiums paid (adjusted for withdrawals) accumulated at contractually specified interest rates up to specified ages; • Combo: the benefit is the greater of the ratchet benefit or the roll-up benefit, which may include either a five year or an annual reset; or • Withdrawal: the withdrawal is guaranteed up to a maximum amount per year for life. Liabilities for Variable Annuity Contracts with GMDB and GMIB Features without NLG Rider Feature The change in the liabilities for variable annuity contracts with GMDB and GMIB features and without a NLG feature are summarized in the tables below. The amounts for the direct contracts (before reinsurance ceded) and assumed contracts are reflected in the consolidated balance sheets in future policy benefits and other policyholders’ liabilities. The amounts for the ceded contracts are reflected in the consolidated balance sheets in amounts due from reinsurers. The amounts for the ceded GMIB that are reflected in the consolidated balance sheets in GMIB reinsurance contract asset are at fair value. Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature Three Months Ended March 31, 2022 and 2021 GMDB GMIB Direct Ceded Direct Ceded (in millions) Balance, January 1, 2022 $ 5,011 $ (2,237) $ 5,952 $ (4,207) Paid guarantee benefits (133) 56 (121) 16 Other changes in reserve 223 (93) 250 263 Balance, March 31, 2022 $ 5,101 $ (2,274) $ 6,081 $ (3,928) Balance, January 1, 2021 $ 5,093 $ (84) $ 6,025 $ (2,859) Paid guarantee benefits (133) 4 (91) 13 Other changes in reserve 123 (1) 32 713 Balance, March 31, 2021 $ 5,083 $ (81) $ 5,966 $ (2,133) Liabilities for Embedded and Freestanding Insurance Related Derivatives The liability for the GMxB derivative features, the liability for SCS, SIO, MSO and IUL indexed features and the asset and liability for the GMIB reinsurance contracts and amounts due from reinsurers related to GMIB NLG product features (GMIB NLG Reinsurance) are considered embedded or freestanding insurance derivatives and are reported at fair value. For the fair value of the assets and liabilities associated with these embedded or freestanding insurance derivatives, see Note 7 of the Notes to these Consolidated Financial Statements. Account Values and Net Amount at Risk Account Values and NAR for direct variable annuity contracts in force with GMDB and GMIB features as of March 31, 2022 are presented in the following tables by guarantee type. For contracts with the GMDB feature, the NAR in the event of death is the amount by which the GMDB feature exceeds the related Account Values. For contracts with the GMIB feature, the NAR in the event of annuitization is the amount by which the present value of the GMIB benefits exceed the related Account Values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB features may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive. Direct Variable Annuity Contracts with GMDB and GMIB Features as of March 31, 2022 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 16,395 $ 86 $ 50 $ 156 $ 16,687 Separate Accounts 55,292 8,977 3,107 31,437 98,813 Total Account Values $ 71,687 $ 9,063 $ 3,157 $ 31,593 $ 115,500 NAR, gross $ 167 $ 323 $ 1,486 $ 18,079 $ 20,055 NAR, net of amounts reinsured $ 162 $ 289 $ 1,057 $ 9,363 $ 10,871 Average attained age of policyholders (in years) 51.5 69.3 75.6 71.3 55.6 Percentage of policyholders over age 70 11.8% 52.0% 73.1% 57.9% 20.8% Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 15 $ 201 $ 216 Separate Accounts — — 24,220 33,461 57,681 Total Account Values $ — $ — $ 24,235 $ 33,662 $ 57,897 NAR, gross $ — $ — $ 586 $ 8,673 $ 9,259 NAR, net of amounts reinsured $ — $ — $ 188 $ 3,539 $ 3,727 Average attained age of policyholders (in years) N/A N/A 65.2 71.0 68.8 Weighted average years remaining until annuitization N/A N/A 5.9 0.6 2.6 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% For more information about the reinsurance programs of the Company’s GMDB and GMIB exposure, see “Reinsurance” in Note 11 of the Notes to the Consolidated Financial Statements 2021 Form 10-K. Separate Accounts Investments by Investment Category Underlying Variable Annuity Contracts with GMDB and GMIB Features The total Account Values of variable annuity contracts with GMDB and GMIB features include amounts allocated to the guaranteed interest option, which is part of the General Account and variable investment options that invest through Separate Accounts in variable insurance trusts. The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB features. The investment performance of the assets impacts the related Account Values and, consequently, the NAR associated with the GMDB and GMIB benefits and guarantees. Because the Company’s variable annuity contracts offer both GMDB and GMIB features, GMDB and GMIB amounts are not mutually exclusive. Investment in Variable Insurance Trust Mutual Funds March 31, 2022 December 31, 2021 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 48,377 $ 18,106 $ 52,744 $ 20,009 Fixed income 5,086 2,330 5,384 2,505 Balanced 44,287 36,984 48,152 40,228 Other 1,063 261 1,025 264 Total $ 98,813 $ 57,681 $ 107,305 $ 63,006 Hedging Programs for GMDB, GMIB, GIB and Other Features The Company has a program intended to hedge certain risks associated first with the GMDB feature and with the GMIB feature of the Accumulator series of variable annuity products. The program has also been extended to cover other guaranteed benefits as they have been made available. This program utilizes derivative contracts, such as exchange-traded equity, currency and interest rate futures contracts, total return and/or equity swaps, interest rate swap and floor contracts, swaptions, variance swaps as well as equity options, that collectively are managed in an effort to reduce the economic impact of unfavorable changes in guaranteed benefits’ exposures attributable to movements in the capital markets. At the present time, this program hedges certain economic risks on products sold from 2001 forward, to the extent such risks are not externally reinsured. These programs do not qualify for hedge accounting treatment. Therefore, gains (losses) on the derivatives contracts used in these programs, including current period changes in fair value, are recognized in net derivative gains (losses) in the period in which they occur, and may contribute to income (loss) volatility. Variable and Interest-Sensitive Life Insurance Policies - NLG The NLG feature contained in variable and interest-sensitive life insurance policies keeps them in force in situations where the policy value is not sufficient to cover monthly charges then due. The NLG remains in effect so long as the policy meets a contractually specified premium funding test and certain other requirements. The change in the NLG liabilities, reflected in future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below. Direct Liability Reinsurance Ceded Net (in millions) Balance, January 1, 2022 1,090 (928) 162 Paid guarantee benefits (8) — (8) Other changes in reserves 24 (1) 23 Balance at March 31, 2022 $ 1,106 $ (929) $ 177 Balance, January 1, 2021 1,016 (883) 133 Paid guarantee benefits (15) — (15) Other changes in reserves 44 (18) 26 Balance at March 31, 2021 $ 1,045 $ (901) $ 144

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. As of March 31, 2022 and December 31, 2021, no assets or liabilities were required to be measured at fair value on a non-recurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of March 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 44,031 $ 1,672 $ 45,703 U.S. Treasury, government and agency — 9,202 — 9,202 States and political subdivisions — 591 32 623 Foreign governments — 1,083 — 1,083 Residential mortgage-backed (2) — 81 — 81 Asset-backed (3) — 7,063 332 7,395 Commercial mortgage-backed — 3,205 238 3,443 Redeemable preferred stock — 48 — 48 Total fixed maturities, AFS — 65,304 2,274 67,578 Other equity investments 219 440 6 665 Trading securities 203 180 — 383 Other invested assets: Short-term investments — — — — Assets of consolidated VIEs/VOEs — — 5 5 Swaps — (584) — (584) Credit default swaps — (2) — (2) Options — 6,316 — 6,316 Total other invested assets — 5,730 5 5,735 Cash equivalents 1,266 794 — 2,060 Amounts due from reinsurer (5) — — 5,056 5,056 GMIB reinsurance contracts asset — — 1,742 1,742 Separate Accounts assets (4) 129,928 2,880 — 132,808 Total Assets $ 131,616 $ 75,328 $ 9,083 $ 216,027 Liabilities: GMxB derivative features’ liability $ — $ — $ 6,924 $ 6,924 SCS, SIO, MSO and IUL indexed features’ liability — 6,018 — 6,018 Total Liabilities $ — $ 6,018 $ 6,924 $ 12,942 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of March 31, 2022 the fair value of such investments was $414 million. (5) This represents GMIB NLG ceded reserves related to Venerable Transaction. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction. Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 46,231 $ 1,493 $ 47,724 U.S. Treasury, government and agency — 15,214 — 15,214 States and political subdivisions — 562 35 597 Foreign governments — 1,152 — 1,152 Residential mortgage-backed (2) — 90 — 90 Asset-backed (3) — 5,897 8 5,905 Commercial mortgage-backed — 2,321 20 2,341 Redeemable preferred stock — 53 — 53 Total fixed maturities, AFS — 71,520 1,556 73,076 Other equity investments 243 434 5 682 Trading securities 193 186 — 379 Other invested assets: Short-term investments — — — — Assets of consolidated VIEs/VOEs — — 8 8 Swaps — (469) — (469) Credit default swaps — (1) — (1) Options — 6,956 — 6,956 Total other invested assets — 6,486 8 6,494 Cash equivalents 1,109 273 — 1,382 Amounts due from reinsurer (5) — — 5,813 5,813 GMIB reinsurance contracts asset — — 2,068 2,068 Separate Accounts assets (4) 140,740 2,565 1 143,306 Total Assets $ 142,285 $ 81,464 $ 9,451 $ 233,200 Liabilities: GMxB derivative features’ liability $ — $ — $ 8,525 $ 8,525 SCS, SIO, MSO and IUL indexed features’ liability — 6,641 — 6,641 Total Liabilities $ — $ 6,641 $ 8,525 $ 15,166 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2021 the fair value of such investments was $404 million. (5) This represents GMIB NLG ceded reserves related to Venerable Transaction. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction. Public Fixed Maturities The fair values of the Company’s public fixed maturities are generally based on prices obtained from independent valuation service providers and for which the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Although each security generally is priced by multiple independent valuation service providers, the Company ultimately uses the price received from the independent valuation service provider highest in the vendor hierarchy based on the respective asset type, with limited exception. To validate reasonableness, prices also are internally reviewed by those with relevant expertise through comparison with directly observed recent market trades. Consistent with the fair value hierarchy, public fixed maturities validated in this manner generally are reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs. Private Fixed Maturities The fair values of the Company’s private fixed maturities are determined from prices obtained from independent valuation service providers. Prices not obtained from an independent valuation service provider are determined by using a discounted cash flow model or a market comparable company valuation technique. In certain cases, these models use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 2. For certain private fixed maturities, the discounted cash flow model or a market comparable company valuation technique may also incorporate unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset. To the extent management determines that such unobservable inputs are significant to the fair value measurement of a security, a Level 3 classification generally is made. Freestanding Derivative Positions The net fair value of the Company’s freestanding derivative positions as disclosed in Note 4 of the Notes to these Consolidated Financial Statements are generally based on prices obtained either from independent valuation service providers or derived by applying market inputs from recognized vendors into industry standard pricing models. The majority of these derivative contracts are traded in the OTC derivative market and are classified in Level 2. The fair values of derivative assets and liabilities traded in the OTC market are determined using quantitative models that require use of the contractual terms of the derivative instruments and multiple market inputs, including interest rates, prices, and indices to generate continuous yield or pricing curves, including overnight index swap curves, and volatility factors, which then are applied to value the positions. The predominance of market inputs is actively quoted and can be validated through external sources or reliably interpolated if less observable. Level Classifications of the Company’s Financial Instruments Financial Instruments Classified as Level 1 Investments classified as Level 1 primarily include redeemable preferred stock, trading securities, cash equivalents and Separate Accounts assets. Fair value measurements classified as Level 1 include exchange-traded prices of fixed maturities, equity securities and derivative contracts, and net asset values for transacting subscriptions and redemptions of mutual fund shares held by Separate Accounts. Cash equivalents classified as Level 1 include money market accounts, overnight commercial paper and highly liquid debt instruments purchased with an original maturity of three months or less and are carried at cost as a proxy for fair value measurement due to their short-term nature. Financial Instruments Classified as Level 2 Investments classified as Level 2 are measured at fair value on a recurring basis and primarily include U.S. government and agency securities and certain corporate debt securities, such as public and private fixed maturities. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined utilizing relevant information generated by market transactions involving comparable securities and often are based on model pricing techniques that effectively discount prospective cash flows to present value using appropriate sector-adjusted credit spreads commensurate with the security’s duration, also taking into consideration issuer-specific credit quality and liquidity. Observable inputs generally used to measure the fair value of securities classified as Level 2 include benchmark yields, reported secondary trades, issuer spreads, benchmark securities and other reference data. Additional observable inputs are used when available, and as may be appropriate, for certain security types, such as prepayment, default, and collateral information for the purpose of measuring the fair value of mortgage- and asset-backed securities. The Company’s AAA-rated mortgage- and asset-backed securities are classified as Level 2 for which the observability of market inputs to their pricing models is supported by sufficient, albeit more recently contracted, market activity in these sectors. Certain Company products, such as the SCS, EQUI-VEST variable annuity products, IUL and the MSO fund available in some life contracts offer investment options which permit the contract owner to participate in the performance of an index, ETF or commodity price. These investment options, which depending on the product and on the index selected can currently have one, three, five or six year terms, provide for participation in the performance of specified indices, ETF or commodity price movement up to a segment-specific declared maximum rate. Under certain conditions that vary by product, e.g., holding these segments for the full term, these segments also shield policyholders from some or all negative investment performance associated with these indices, ETF or commodity prices. These investment options have defined formulaic liability amounts, and the current values of the option component of these segment reserves are classified as Level 2 embedded derivatives. The fair values of these embedded derivatives are based on data obtained from independent valuation service providers. Financial Instruments Classified as Level 3 The Company’s investments classified as Level 3 primarily include corporate debt securities, such as private fixed maturities and asset-backed securities. Determinations to classify fair value measures within Level 3 of the valuation hierarchy generally are based upon the significance of the unobservable factors to the overall fair value measurement. Included in the Level 3 classification are fixed maturities with indicative pricing obtained from brokers that otherwise could not be corroborated to market observable data. The Company also issues certain benefits on its variable annuity products that are accounted for as derivatives and are also considered Level 3. The GMIB NLG feature allows the policyholder to receive guaranteed minimum lifetime annuity payments based on predetermined annuity purchase rates applied to the contract’s benefit base if and when the contract account value is depleted and the NLG feature is activated. The GMWB feature allows the policyholder to withdraw at minimum, over the life of the contract, an amount based on the contract’s benefit base. The GWBL feature allows the policyholder to withdraw, each year for the life of the contract, a specified annual percentage of an amount based on the contract’s benefit base. The GMAB feature increases the contract account value at the end of a specified period to a GMAB base. The GIB feature provides a lifetime annuity based on predetermined annuity purchase rates if and when the contract account value is depleted. This lifetime annuity is based on predetermined annuity purchase rates applied to a GIB base. Level 3 also includes the GMIB reinsurance contract assets which are accounted for as derivative contracts. The GMIB reinsurance contract asset and liabilities’ fair value reflects the present value of reinsurance premiums, net of recoveries, and risk margins over a range of market consistent economic scenarios while GMxB derivative features liability reflects the present value of expected future payments (benefits) less fees, adjusted for risk margins and nonperformance risk, attributable to GMxB derivative features’ liability over a range of market-consistent economic scenarios. Also included are the Amounts due from Reinsurers related to the GMIB NLG product features (GMIB NLG Reinsurance). The fair value reflects the present value of reinsurance premiums, net of recoveries, adjusted for risk margins and nonperformance risk over a range of market consistent economic scenarios. The valuations of the GMIB reinsurance contract asset, GMIB NLG Reinsurance and GMxB derivative features liability incorporate significant non-observable assumptions related to policyholder behavior, risk margins and equity projections of Separate Account funds. The credit risks of the counterparty and of the Company are considered in determining the fair values of its GMIB reinsurance contract asset, GMIB NLG Reinsurance and GMxB derivative features liability positions, respectively, after taking into account the effects of collateral arrangements. Incremental adjustment to the U.S. Treasury curve for non-performance risk is made to the fair values of the GMIB reinsurance contract asset, GMIB NLG Reinsurance and GMIB NLG feature to reflect the claims-paying ratings of counterparties and the Company. Equity and fixed income volatilities were modeled to reflect current market volatilities. Due to the unique, long duration of the GMIB NLG feature and GMIB NLG Reinsurance , adjustments were made to the equity volatilities to remove the illiquidity bias associated with the longer tenors and risk margins were applied to the non-capital markets inputs to the GMIB NLG valuations. After giving consideration to collateral arrangements, the Company reduced the fair value of its GMIB reinsurance contract asset by $166 million and $148 million as of March 31, 2022 and December 31, 2021, respectively, to recognize incremental counterparty non-performance risk. After giving consideration to collateral arrangements, the Company reduced the fair value of its Amounts due from Reinsurers by $215 million and $210 million at March 31, 2022 and December 31, 2021 to recognize incremental counterparty non-performance risk. Lapse rates are adjusted at the contract level based on a comparison of the actuarial calculated guaranteed values and the current policyholder account value, which include other factors such as considering surrender charges. Generally, lapse rates are assumed to be lower in periods when a surrender charge applies. A dynamic lapse function reduces the base lapse rate when the guaranteed amount is greater than the account value as in the money contracts are less likely to lapse. For valuing the embedded derivative, lapse rates vary throughout the period over which cash flows are projected. The Company’s consolidated VIEs/VOEs hold investments that are classified as Level 3, primarily corporate bonds that are vendor priced with no ratings available, bank loans, non-agency collateralized mortgage obligations and asset-backed securities. Transfers of Financial Instruments Between Levels 2 and 3 During the three months ended March 31, 2022, fixed maturities with fair values of $8 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $70 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 1.4% of total equity as of March 31, 2022. During the three months ended March 31, 2021, fixed maturities with fair values of $549 million were transferred out of Level 3 and into Level 2 principally due to the availability of trading activity and/or market observable inputs to measure and validate their fair values. In addition, fixed maturities with fair value of $2 million were transferred from Level 2 into the Level 3 classification. These transfers in the aggregate represent approximately 8.0% of total equity as of March 31, 2021. The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses) for the three months ended March 31, 2022 and 2021, respectively. Corporate State and Political Subdivisions CMBS Asset-backed (in millions) Balance, January 1, 2022 $ 1,493 $ 35 $ 20 $ 8 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — — Investment gains (losses), net 1 — — — Subtotal 2 — — — Other comprehensive income (loss) (30) (3) (1) — Purchases 231 — 219 325 Sales (86) — — (1) Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 70 — — — Transfers out of Level 3 (1) (8) — — — Balance, March 31, 2022 $ 1,672 $ 32 $ 238 $ 332 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (28) $ (2) $ (1) $ — Balance, January 1, 2021 $ 1,687 $ 39 $ — $ 20 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — Investment gains (losses), net (6) — — Subtotal (5) — — — Other comprehensive income (loss) 9 (1) — — Purchases 165 — 4 50 Sales (67) — — (5) Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 2 — — — Transfers out of Level 3 (1) (549) — — — Balance, March 31, 2021 $ 1,242 $ 38 $ 4 $ 65 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 9 $ (1) $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of March 31, 2022 and March 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Other Equity Investments (6) Amounts Due from Reinsurers GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability (in millions) Balance, January 1, 2022 $ 13 $ 5,815 $ 2,068 $ 1 $ (8,525) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) (1) — (767) (320) — 1,688 Total realized and unrealized gains (losses) — (767) (320) — 1,688 Other comprehensive income (loss) — — — — — Purchases (2) — 34 10 — (118) Sales (3) — (26) (16) (1) 31 Other (5) — — — — — Activity related to consolidated VIEs/VOEs (2) — — — — Transfers into Level 3 (4) — — — — — Transfers out of Level 3 (4) — — — — — Balance, March 31, 2022 $ 11 $ 5,056 $ 1,742 $ — $ (6,924) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (5) $ — $ (767) $ (320) $ — $ 1,688 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (5) $ — $ — $ — $ — $ — Balance, January 1, 2021 $ 15 $ — $ 2,859 $ 1 $ (10,936) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) — — (724) — 3,357 Total realized and unrealized gains (losses) — — (724) — 3,357 Other comprehensive income (loss) — — — — — Purchases (2) — — 12 — (117) Sales (3) (1) — (14) — 15 Change in estimate (4) — — — — — Activity related to consolidated VIEs/VOEs (2) — — — — Transfers into Level 3 (4) — — — — — Transfers out of Level 3 (4) — — — (1) — Balance, March 31, 2021 $ 12 $ — $ 2,133 $ — $ (7,681) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (5) $ — $ — $ (724) $ — $ 3,357 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (5) $ — $ — $ — $ — $ — ______________ (1) For the three months ended March 31, 2022 and 2021, the Company’s non-performance risk impact of $483 million and $84 million for the GMxB Derivative Features Liability, $(45) million and $(16) million for the GMIB Reinsurance Contract Asset, and $(42) million and $0 million for the Amounts due from Reinsurers, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, Amounts Due from Reinsurers and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset and Amounts Due from Reinsurers, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (5) For instruments held as of March 31, 2022 and March 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. (6) Other Equity Investments include other invested assets. Quantitative and Qualitative Information about Level 3 Fair Value Measurements The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2022 and December 31, 2021, respectively. Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2022 Fair Valuation Technique Significant Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 325 Matrix pricing model Spread over Benchmark 20 bps - 299 bps 105 bps 891 Market comparable companies EBITDA multiples Discount Rate Cashflow Multiples Loan to Value 5.0x - 77.6x 7.2% - 33.6% 0.5x - 11.6x 0.0% - 62.1% 13.9x 9.8% 6.4x 30.0% Other equity investments 4 Market comparable companies Revenue multiple 7.7x - 9.5x 9.2x Fair Valuation Technique Significant Range Weighted Average (2) GMIB reinsurance contract asset 1,742 Discounted cash flow Lapse rates Withdrawal Rates GMIB Utilization Rates Non-performance risk Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.45% - 20.86% 0.27% - 8.66% 0.04% - 60.44% 82 bps - 130 bps 9% - 32% 0.01% - 0.17% 0.06% - 0.53% 0.31% - 40.00% 2.78% 0.91% 5.28% 84 bps 24% 2.85% (same for all ages) (same for all ages) Amount Due from Reinsurers 5,056 Discounted Cash Flow Lapse rates Withdrawal Rates GMIB Utilization Rates Non-performance risk (bps) Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.45% - 20.86% 0.27% - 8.66% 0.04% - 60.44% 48 bps 9% - 32% 0.01% - 0.17% 0.06% - 0.53% 0.31% - 40.00% 1.79% 1.15% 7.40% 48 bps 24% 2.17% (same for all ages) (same for all ages) Liabilities: GMIB NLG 6,936 Discounted cash flow Non-performance risk Lapse Withdrawal Annuitization Mortality (1): Ages 0-40 Ages 41-60 Ages 61-115 151 bps 1.04% - 23.57% 0.27% - 8.66% 0.03% - 100.00% 0.01% - 0.19% 0.07% - 0.57% 0.44% - 43.60% 151 bps 3.69% 1.03% 5.37% 1.62% (same for all ages) (same for all ages) GWBL/GMWB 83 Discounted cash flow Lapse rates Withdrawal Rates Utilization Rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 0.00% - 8.00% 100% once starting 9% - 32% 151 bps 2.78% 0.91% 24% GIB (93) Discounted cash flow Lapse rates Withdrawal Rates Utilization Rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 0.13% - 8.66% 0.04% - 100.00% 9% - 32% 151 bps 2.78% 0.91% 5.28% 24% GMAB (3) Discounted cash flow Lapse rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 9% - 32% 151 bps 2.78% 24% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For lapses, withdrawals, and utilizations the rates were weighted by counts, for mortality weighted average rates are shown for all ages combined and for withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2021 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 248 Matrix pricing model Spread over benchmark 20 - 270 bps 146 bps 888 Market comparable companies EBITDA multiples Cash flow multiples Loan to Value 4.9x - 62.3x 6.2% - 21.5% 0.5x -10.0x 3.1%-63.4% 13.0x 9.1% 5.5x 30.8% Other equity investments 4 Market comparable companies Revenue multiple 7.8x - 10.3x 9.5x GMIB reinsurance contract asset 2,068 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 57 bps - 93 bps 0.45%-20.86% 0.27%-8.66% 0.04%-60.44% 11%-31% 0.01%-0.17% 0.06%-0.53% 0.31%-40.00% 60 bps 2.65% 0.93% 5.27% 24% 2.79% (same for all ages) (same for all ages) Amount Due from Reinsurers 5,813 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 37 bps 0.45%-20.86% 0.27%-8.66% 0.04%-60.44% 11%-31% 0.01%-0.17% 0.06%-0.53% 0.31%-40.00% 37 bps 1.70% 1.18% 7.20% 24% 2.17% (same for all ages) (same for all ages) Liabilities: GMIB NLG 8,503 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 111 bps 1.04%-23.57% 0.27%-8.66% 0.03%-100.00% 0.01%-0.19% 0.07%-0.57% 0.44%-43.60% 111 bps 3.55% 1.04% 5.24% 1.62% (same for all ages) (same for all ages) GWBL/GMWB 99 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity 111 bps 0.60%-20.86% 0.00%-8.00% 100% once starting 11%-31% 2.65% 0.93% 24% GIB (75) Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity 111 bps 0.60%-20.86% 0.13%-8.66% 0.04%-100.00% 11%-31% 2.65% 0.93% 5.27% 24% GMAB (3) Discounted cash flow Non-performance risk Lapse rates Volatility rates - Equity 111 bps 0.60%-20.86% 11%-31% 2.65% 24% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For lapses, withdrawals, and utilizations the rates were weighted by counts, for mortality weighted average rates are shown for all ages combined and for withdrawa

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the three months ended March 31, 2022 and 2021 was computed using an estimated annual effective tax rate (“ETR”), with discrete items recognized in the period in which they occur. The estimated ETR is revised, as necessary, at the end of successive interim reporting periods.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company did not enter into any new significant transactions with related parties during the three months ended.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
EQUITY	EQUITY AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of March 31, 2022 and December 31, 2021 follow: March 31, December 31, 2022 2021 (in millions) Unrealized gains (losses) on investments $ (1,154) $ 2,362 Defined benefit pension plans (5) (5) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (1,159) $ 2,357 The components of OCI, net of taxes for the three months ended March 31, 2022 and 2021, follow: Three Months Ended March 31, 2022 2021 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ (4,795) $ (3,868) (Gains) losses reclassified into net income (loss) during the period (1) 261 (164) Net unrealized gains (losses) on investments (4,534) (4,032) Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other 1,018 918 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(935) and $828) (3,516) (3,114) Other comprehensive income (loss), attributable to Equitable Financial $ (3,516) $ (3,114) ____________ (1) See “Reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(70) million and $44 million for the three months ended March 31, 2022 and 2021, respectively. Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and credit losses of AFS securities and are included in total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to net income (loss) as related to defined benefit plans primarily consist of amortization of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in compensation and benefits in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
REDEEMABLE NONCONTROLLING INTEREST	REDEEMABLE NONCONTROLLING INTEREST The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ 28 $ 41 Net earnings (loss) attributable to redeemable noncontrolling interests $ (1) $ — Purchase/change of redeemable noncontrolling interests $ 2 $ 7 Balance, end of period $ 29 $ 48

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation and Regulatory Matters Litigation, regulatory and other loss contingencies arise in the ordinary course of the Company’s activities as a diversified financial services firm. The Company is a defendant in a number of litigation matters arising from the conduct of its business. In some of these matters, claimants seek to recover very large or indeterminate amounts, including compensatory, punitive, treble and exemplary damages. Modern pleading practice permits considerable variation in the assertion of monetary damages and other relief. Claimants are not always required to specify the monetary damages they seek, or they may be required only to state an amount sufficient to meet a court’s jurisdictional requirements. Moreover, some jurisdictions allow claimants to allege monetary damages that far exceed any reasonably possible verdict. The variability in pleading requirements and past experience demonstrates that the monetary and other relief that may be requested in a lawsuit or claim often bears little relevance to the merits or potential value of a claim. Litigation against the Company includes a variety of claims including, among other things, insurers’ sales practices, alleged agent misconduct, alleged failure to properly supervise agents, contract administration, product design, features and accompanying disclosure, cost of insurance increases, payments of death benefits and the reporting and escheatment of unclaimed property, alleged breach of fiduciary duties, alleged mismanagement of client funds and other matters. The outcome of a litigation or regulatory matter is difficult to predict, and the amount or range of potential losses associated with these or other loss contingencies requires significant management judgment. It is not possible to predict the ultimate outcome or to provide reasonably possible losses or ranges of losses for all pending regulatory matters, litigation and other loss contingencies. While it is possible that an adverse outcome in certain cases could have a material adverse effect upon the Company’s financial position, based on information currently known, management believes that neither the outcome of pending litigation and regulatory matters, nor potential liabilities associated with other loss contingencies, are likely to have such an effect. However, given the large and indeterminate amounts sought in certain litigation and the inherent unpredictability of all such matters, it is possible that an adverse outcome in certain of the Company’s litigation or regulatory matters, or liabilities arising from other loss contingencies, could, from time to time, have a material adverse effect upon the Company’s results of operations or cash flows in a particular quarterly or annual period. For some matters, the Company is able to estimate a range of loss. For such matters in which a loss is probable, an accrual has been made. For matters where the Company believes a loss is reasonably possible, but not probable, no accrual is required. For matters for which an accrual has been made, but there remains a reasonably possible range of loss in excess of the amounts accrued or for matters where no accrual is required, the Company develops an estimate of the unaccrued amounts of the reasonably possible range of losses. As of March 31, 2022, the Company estimates the aggregate range of reasonably possible losses, in excess of any amounts accrued for these matters as of such date, to be up to approximately $250 million. For other matters, the Company is currently not able to estimate the reasonably possible loss or range of loss. The Company is often unable to estimate the possible loss or range of loss until developments in such matters have provided sufficient information to support an assessment of the range of possible loss, such as quantification of a damage demand from plaintiffs, discovery from plaintiffs and other parties, investigation of factual allegations, rulings by a court on motions or appeals, analysis by experts and the progress of settlement discussions. On a quarterly and annual basis, the Company reviews relevant information with respect to litigation and regulatory contingencies and updates the Company’s accruals, disclosures and reasonably possible losses or ranges of loss based on such reviews. In August 2015, a lawsuit was filed in Connecticut Superior Court entitled Richard T. O’Donnell, on behalf of himself and all others similarly situated v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action on behalf of all persons who purchased variable annuities from Equitable Financial, which were subsequently subjected to the volatility management strategy and who suffered injury as a result thereof. Plaintiff asserts a claim for breach of contract alleging that Equitable Financial implemented the volatility management strategy in violation of applicable law. Plaintiff seeks an award of damages individually and on a classwide basis, and costs and disbursements, including attorneys’ fees, expert witness fees and other costs. In 2015, the case was transferred to the Southern District of New York and, in 2018, transferred back to Connecticut Superior Court. In August 2019, the court granted Equitable Financial’s motion to strike, which sought dismissal of the complaint, and in September 2019, Plaintiff filed an Amended Class Action Complaint. Equitable Financial filed renewed motions to strike and to dismiss and for an entry of judgment in October 2019. In August 2020, the court granted Equitable Financial’s motion for entry of judgment. Plaintiff filed a notice of appeal and in February 2022, the Connecticut Appellate Court reversed the Superior Court’s entry of judgement. In April 2022, the Connecticut Supreme Court granted Equitable Financial’s petition to review the decision of the Connecticut Appellate Court. We are vigorously defending this matter. In February 2016, a lawsuit was filed in the Southern District of New York entitled Brach Family Foundation, Inc. v. AXA Equitable Life Insurance Company. This lawsuit is a putative class action brought on behalf of all owners of UL policies subject to Equitable Financial’s COI rate increase. In early 2016, Equitable Financial raised COI rates for certain UL policies issued between 2004 and 2008, which had both issue ages 70 and above and a current face value amount of $1 million and above. A second putative class action was filed in the District of Arizona in 2017 and consolidated with the Brach matter in federal court in New York. The consolidated amended class action complaint alleges the following claims: breach of contract; misrepresentations in violation of Section 4226 of the New York Insurance Law; violations of New York General Business Law Section 349; and violations of the California Unfair Competition Law, and the California Elder Abuse Statute. Plaintiffs seek: (a) compensatory damages, costs, and, pre- and post-judgment interest; (b) with respect to their claim concerning Section 4226, a penalty in the amount of premiums paid by the plaintiffs and the putative class; and (c) injunctive relief and attorneys’ fees in connection with their statutory claims. In August 2020, the federal district court issued a decision certifying nationwide breach of contract and Section 4226 classes, and a New York State Section 349 class. Owners of a substantial number of policies opted out of the Brach class action. Most opt-out policies are not yet the subject of litigation. Others filed suit previously, including five federal actions that have been coordinated with the Brach action and contain similar allegations along with additional allegations for violations of state consumer protection statutes and common law fraud. In March 2022, the federal district court issued a summary judgment decision, denying in significant part but granting in part Equitable Financial’s motion and denying the motion filed by plaintiffs in the coordinated actions. Equitable Financial has commenced settlement discussions with the Brach class action plaintiffs and plaintiffs in the coordinated actions. No assurances can be given about the outcome of those settlement discussions. Equitable Financial has settled actual and threatened litigations challenging the COI increase by individual policyowners and one entity that invested in numerous policies purchased in the life settlement market. Two actions are also pending against Equitable Financial in New York state court. Equitable Financial is vigorously defending each of these matters. As with other financial services companies, the Company periodically receives informal and formal requests for information from various state and federal governmental agencies and self-regulatory organizations in connection with inquiries and investigations of the products and practices of the Company or the financial services industry. It is the practice of the Company to cooperate fully in these matters. For example, among other matters, the Company has been cooperating with the U.S. Securities and Exchange Commission (the “SEC”) concerning the SEC’s investigation into the Company’s non-ERISA K-12 403(b) and 457 sales and disclosure practices. The Company has reached an agreement in principle, subject to agreement on documentation and approval by the SEC, to resolve that investigation, including the allegation that daily separate account and portfolio operating expenses disclosed in customer prospectuses and incorporated in the calculation of net investment portfolio results in quarterly account statements were not properly presented or referenced in those account statements. If approved, under the settlement, the Company would neither admit nor deny the allegations, prospectively modify the relevant account statements and cross-reference the relevant prospectus disclosures, and pay a civil monetary penalty of $50 million, to be distributed to plan participants. The Company has fully accrued for the cost of the settlement. Obligations under Funding Agreements Federal Home Loan Bank As a member of the FHLB, Equitable Financial has access to collateralized borrowings. It also may issue funding agreements to the FHLB. Both the collateralized borrowings and funding agreements would require Equitable Financial to pledge qualified mortgage-backed assets and/or government securities as collateral. Equitable Financial issues short-term funding agreements to the FHLB and uses the funds for asset, liability, and cash management purposes. Equitable Financial issues long-term funding agreements to the FHLB and uses the funds for spread lending purposes. Entering into FHLB membership, borrowings and funding agreements requires the ownership of FHLB stock and the pledge of assets as collateral. Equitable Financial has purchased FHLB stock of $286 million and pledged collateral with a carrying value of $9.9 billion as of March 31, 2022. Funding agreements are reported in policyholders’ account balances in the consolidated balance sheets. For other instruments used for asset/liability and cash management purposes, see “Derivative and offsetting assets and liabilities” included in Note 4 of the Notes to these Consolidated Financial Statements. The table below summarizes the Company’s activity of funding agreements with the FHLB. Change in FHLB Funding Agreements during the Three Months Ended March 31, 2022 Outstanding Balance at December 31, 2021 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at March 31, 2022 (in millions) Short-term funding agreements: Due in one year or less $ 5,353 $ 13,688 $ 14,435 $ — $ — $ 4,606 Long-term funding agreements: Due in years two through five 1,290 13 — — — 1,303 Due in more than five years — 175 — — — 175 Total long-term funding agreements 1,290 188 — — — 1,478 Total funding agreements (1) $ 6,643 $ 13,876 $ 14,435 $ — $ — $ 6,084 ____________ (1) The $4 million and $4 million difference between the funding agreements carrying value shown in fair value table for March 31, 2022 and December 31, 2021, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Funding Agreement-Backed Notes Program Under the FABN program, Equitable Financial may issue funding agreements in U.S. dollar or foreign currencies to a Delaware special purpose statutory trust (the “Trust”) in exchange for the proceeds from issuances of fixed and floating rate medium-term marketable notes issued by the Trust from time to time (the “Trust Notes”). The funding agreements have matching interest, maturity and currency payment terms to the applicable Trust Notes. The Company hedges the foreign currency exposure of foreign currency denominated funding agreements using cross currency swaps as discussed in Note 4 of the Notes to these Consolidated Financial Statements. As of May 2021, the maximum aggregate principal amount of Trust Notes permitted to be outstanding at any one time is $10 billion. Funding agreements issued to the Trust, including any foreign currency transaction adjustments, are reported in policyholders’ account balances in the consolidated balance sheets. Foreign currency transaction adjustments to policyholder’s account balances are recognized in net income (loss) as an adjustment to interest credited to policyholders’ account balances and are offset in interest credited to policyholders’ account balances by a release of AOCI from deferred changes in fair value of designated and qualifying cross currency swap cash flow hedges. The table below summarizes Equitable Financial’s issuances of funding agreements under the FABN. Change in FABN Funding Agreements during the Three Months Ended March 31, 2022 Outstanding Balance at December 31, 2021 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at March 31, 2022 (in millions) Short-term funding agreements: Due in one year or less $ — $ — $ — $ — $ — $ — $ — Long-term funding agreements: Due in years two through five 4,600 — — — — — 4,600 Due in more than five years 2,119 — — — — (16) 2,103 Total long-term funding agreements 6,719 — — — — (16) 6,703 Total funding agreements (1) $ 6,719 $ — $ — $ — $ — $ (16) $ 6,703 _____________ (1) The $31 million and $70 million difference between the funding agreements notional value shown and carrying value table as of March 31, 2022 and December 31, 2021, respectively, reflects the remaining amortization of the issuance cost of the funding agreements and the foreign currency transaction adjustment. Guarantees and Other Commitments The Company provides certain guarantees or commitments to affiliates and others. As of March 31, 2022, these arrangements include commitments by the Company to provide equity financing of $1.3 billion to certain limited partnerships and real estate joint ventures under certain conditions. Management believes the Company will not incur material losses as a result of these commitments. The Company had $17 million of undrawn letters of credit related to reinsurance as of March 31, 2022. The Company had $914 million of commitments under existing mortgage loan agreements as of March 31, 2022. The Company is the obligor under certain structured settlement agreements it had entered into with unaffiliated insurance companies and beneficiaries. To satisfy its obligations under these agreements, the Company owns single premium annuities issued by previously wholly-owned life insurance subsidiaries. The Company has directed payment under these annuities to be made directly to the beneficiaries under the structured settlement agreements. A contingent liability exists with respect to these agreements should the previously wholly-owned subsidiaries be unable to meet their obligations. Management believes the need for the Company to satisfy those obligations is remote.

INSURANCE GROUP STATUTORY FINAN

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	3 Months Ended
	Mar. 31, 2022
Insurance Group Statutory Financial Information [Abstract]
INSURANCE GROUP STATUTORY FINANCIAL INFORMATION	INSURANCE GROUP STATUTORY FINANCIAL INFORMATION Prescribed and Permitted Accounting Practices As of March 31, 2022, the following three prescribed and permitted practices resulted in net income (loss) and capital and surplus that is different from the statutory surplus that would have been reported had NAIC statutory accounting practices been applied. Equitable Financial was granted a permitted practice by the NYDFS to apply SSAP 108, Derivatives Hedging Variable Annuity Guarantees on a retroactive basis from January 1, 2021 through June 30, 2021, after reflecting the impacts of our reinsurance transaction with Venerable. The permitted practice was amended to also permit Equitable Financial to adopt SSAP 108 prospectively as of July 1, 2021. Application of the permitted practice partially mitigates the Regulation 213 impact of the Venerable Transaction on Equitable Financial’s statutory capital and surplus. The impact of the application of this permitted practice was an increase of approximately $1.0 billion in statutory special surplus funds and a decrease of $373 million in statutory net income as of and for the three months ended March 31, 2022, which will be amortized over 5 years for each of the retrospective and prospective components. The permitted practice also reset Equitable Financial’s unassigned surplus to zero as of June 30, 2021 to reflect the transformative nature of the Venerable Transaction. The NYDFS recognizes only SAP for determining and reporting the financial condition and results of operations of an insurance company, in order to determine its solvency under the New York State Insurance Laws. The NAIC Accounting Practices and Procedures manual (“NAIC SAP”) has been adopted as a component of prescribed or permitted practices by the State of New York. However, New York Regulation 213 (“Reg 213”), adopted in May of 2019 and as amended in February 2020 and March 2021, differs from the NAIC variable annuity reserve and capital framework. Reg 213 requires Equitable Financial to carry statutory basis reserves for its variable annuity contract obligations equal to the greater of those required under (i) the NAIC standard or (ii) a revised version of the NYDFS requirement in effect prior to the adoption of the first amendment for contracts issued prior to January 1, 2020, and for policies issued after that date a new standard that in current market conditions imposes more conservative reserving requirements for variable annuity contracts than the NAIC standard. The NYDFS allows domestic insurance companies a five year phase-in provision for Reg 213 reserves. As of March 31, 2022, Equitable Financial’s Reg 213 reserves are phased in at 60%. The impact of the application of Reg 213 was a decrease of approximately $1.8 billion in statutory surplus as of March 31, 2022 compared to statutory surplus under the NAIC variable annuity framework. Additionally, the continued application of Reg 213 resulted in a corresponding decrease of $541 million in statutory net income for the three month period ended March 31, 2022, which was largely offset by net income gains on our hedging program during the same period. During Q4, 2020, the Company received approval from NYDFS for its proposed amended Plan of Operation for Separate Account No. 68 (“SA 68”) for our Structured Capital Strategies product and Separate Account No. 69 (“SA 69”) for our Equi-Vest product Structured Investment Option, to change the accounting basis of the two Separate Accounts from fair value to book value in accordance with Section 1414 of the Insurance Law. In order to facilitate this change and comply with Section 4240(a)(10), the Company also sought approval to amend the Plans to remove the requirement to comply with Section 4240(a)(5)(iii) and substitute it with a commitment to comply with Section 4240(a)(5)(i). Similarly, the Company updated the reserves section of each Plan to reflect the fact that Regulation 128 would no longer be applicable upon the change in accounting basis. We applied this change effective January 1, 2021. The impact of the application is an increase of approximately $827 million in statutory surplus and no impact in statutory net income as of and for the three months ended March 31, 2022.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The unaudited interim consolidated financial statements (the “consolidated financial statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP” or “GAAP”) on a basis consistent with reporting interim financial information in accordance with instructions to the Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments necessary for a fair statement of the financial position and results of operations have been made. All such adjustments are of a normal, recurring nature. Interim results are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The accompanying unaudited consolidated financial statements present the consolidated results of operations, financial condition and cash flows of the Company and its subsidiaries and those investment companies, partnerships and joint ventures in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All significant intercompany transactions and balances have been eliminated in consolidation. The terms “first quarter 2022” and “first quarter 2021” refer to the three months ended March 31, 2022 and 2021, respectively. The terms “first three months of 2022” and “first three months of 2021” refer to the three months ended March 31, 2022 and 2021, respectively.
Recent Accounting Pronouncements and Future Adoption of New Accounting Pronouncements	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB Accounting Standards Codification (“ASC”). The Company considers the applicability and impact of all ASUs. ASUs listed below include those that have been adopted during the current fiscal year and/or those that have been issued but not yet adopted as of March 31, 2022, and as of the date of this filing. ASUs not listed below were assessed and determined to be either not applicable or not material. Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2020-11: Financial Services - Insurance (Topic 944): Effective Date and Early Application This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. The ASU also prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts. 2. Measurement of MRBs. MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU 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. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. In November 2020, the FASB issued ASU 2020-11 which deferred the effective date of the amendments in ASU 2018-12 for all insurance entities. ASU 2018-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is allowed. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. The Company continues to progress with implementation efforts and the evaluation of the impact that adoption of this guidance will have on the Company’s consolidated financial statements. Due to its extensive nature, the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial statements, as well as systems, processes and controls. Effective January 1, 2023, the new guidance will be adopted using the modified retrospective approach, except for MRBs which will use the full retrospective approach. The Company has created a governance framework and implementation plan to ensure timely adoption of the guidance. In preparation for implementation, the Company continues to refine key accounting policy decisions, modernize processes and update internal controls. These changes include modifications of actuarial valuation systems, data sourcing, analytical procedures and reporting processes. The impact on total equity of applying this ASU is estimated to be slightly positive to the current amount of reported total equity as of March 31, 2022. As of March 31, 2022, a positive impact to AOCI is expected due to increases in the Company’s estimate of its non-performance risk on variable annuity guarantees accounted for as MRBs for the first time under the guidance. The estimated impact to the retained earnings element of total equity as of March 31, 2022, due to accounting for variable annuity guarantees as MRBs that are not currently measured at fair value, is mitigated by the Company’s present use of a near industry low interest rate assumption of 2.25% on GMIB business. Because movements in equity markets, interest rates and credit spreads are unpredictable and at times volatile, it is possible that the estimated effects of adoption could change materially between March 31, 2022 and January 1, 2023.
Accounting and Consolidation of VIEs	Accounting and Consolidation of VIEs For all new investment products and entities developed by the Company, the Company first determines whether the entity is a VIE, which involves determining an entity’s variability and variable interests, identifying the holders of the equity investment at risk and assessing the five characteristics of a VIE. Once an entity has been determined to be a VIE, the Company then determines whether it is the primary beneficiary of the VIE based on its beneficial interests. If the Company is deemed to be the primary beneficiary of the VIE, then the Company consolidates the entity. Management of the Company reviews quarterly its investment management agreements and its investments in, and other financial arrangements with, certain entities that hold client AUM to determine the entities that the Company is required to consolidate under this guidance. These entities include certain mutual fund products, hedge funds, structured products, group trusts, collective investment trusts and limited partnerships. The analysis performed to identify variable interests held, determine whether entities are VIEs or VOEs, and evaluate whether the Company has a controlling financial interest in such entities requires the exercise of judgment and is updated on a continuous basis as circumstances change or new entities are developed. The primary beneficiary evaluation generally is performed qualitatively based on all facts and circumstances, including consideration of economic interests in the VIE held directly and indirectly through related parties and entities under common control, as well as quantitatively, as appropriate. Consolidated VIEs As of March 31, 2022, the Company consolidated limited partnerships and LLCs for which it was identified as the primary beneficiary under the VIE model. Included in Other invested assets and Mortgage loans on real estate in the Company’s consolidated balance sheets at March 31, 2022 and December 31, 2021 are total assets of $222 million and $169 million, respectively related to these VIE. Non-Consolidated VIEs
Assumption Updates and Model Changes	Assumption Updates and Model Changes The Company conducts its annual review of its assumptions and models during the third quarter of each year. The annual review encompasses assumptions underlying the valuation of unearned revenue liabilities, embedded derivatives for our insurance business, liabilities for future policyholder benefits, DAC and DSI assets. However, the Company updates its assumptions as needed in the event it becomes aware of economic conditions or events that could require a change in assumptions that it believes may have a significant impact to the carrying value of product liabilities and assets and consequently materially impact its earnings in the period of the change. There were no material assumption updates or model changes in the first quarters of 2022 or 2021.
Fair Value Disclosures	U.S. GAAP establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, and identifies three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices for identical instruments in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar instruments, quoted prices in markets that are not active, and inputs to model-derived valuations that are directly observable or can be corroborated by observable market data. Level 3 Unobservable inputs supported by little or no market activity and often requiring significant management judgment or estimation, such as an entity’s own assumptions about the cash flows or other significant components of value that market participants would use in pricing the asset or liability. The Company uses unadjusted quoted market prices to measure fair value for those instruments that are actively traded in financial markets. In cases where quoted market prices are not available, fair values are measured using present value or other valuation techniques. The fair value determinations are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of the timing and amount of expected future cash flows and the credit standing of counterparties. Such adjustments do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument, nor do they consider the tax impact of the realization of unrealized gains or losses. In many cases, the fair value cannot be substantiated by direct comparison to independent markets, nor can the disclosed value be realized in immediate settlement of the instrument. Management is responsible for the determination of the value of investments carried at fair value and the supporting methodologies and assumptions. Under the terms of various service agreements, the Company often utilizes independent valuation service providers to gather, analyze, and interpret market information and derive fair values based upon relevant methodologies and assumptions for individual securities. These independent valuation service providers typically obtain data about market transactions and other key valuation model inputs from multiple sources and, through the use of widely accepted valuation models, provide a single fair value measurement for individual securities for which a fair value has been requested. As further described below with respect to specific asset classes, these inputs include, but are not limited to, market prices for recent trades and transactions in comparable securities, benchmark yields, interest rate yield curves, credit spreads, quoted prices for similar securities, and other market-observable information, as applicable. Specific attributes of the security being valued also are considered, including its term, interest rate, credit rating, industry sector, and when applicable, collateral quality and other security- or issuer-specific information. When insufficient market observable information is available upon which to measure fair value, the Company either will request brokers knowledgeable about these securities to provide a non-binding quote or will employ internal valuation models. Fair values received from independent valuation service providers and brokers and those internally modeled or otherwise estimated are assessed for reasonableness. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Fair value measurements are required on a non-recurring basis for certain assets only when an impairment or other events occur. As of March 31, 2022 and December 31, 2021, no assets or liabilities were required to be measured at fair value on a non-recurring basis.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	Future Adoption of New Accounting Pronouncements Description Effective Date and Method of Adoption Effect on the Financial Statement or Other Significant Matters ASU 2018-12: Financial Services - Insurance (Topic 944); ASU 2020-11: Financial Services - Insurance (Topic 944): Effective Date and Early Application This ASU provides targeted improvements to existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance entity. The ASU primarily impacts four key areas, including: 1. Measurement of the liability for future policy benefits for traditional and limited payment contracts. The ASU requires companies to review, and if necessary, update cash flow assumptions at least annually for non-participating traditional and limited-payment insurance contracts. The ASU also prescribes the discount rate to be used in measuring the liability for future policy benefits for traditional and limited payment long-duration contracts. 2. Measurement of MRBs. MRBs, as defined under the ASU, will encompass certain GMxB features associated with variable annuity products and other general account annuities with other than nominal market risk. 3. Amortization of deferred acquisition costs. The ASU 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. 4. Expanded footnote disclosures. The ASU requires additional disclosures including information about significant inputs, judgements, assumptions and methods used in measurement. In November 2020, the FASB issued ASU 2020-11 which deferred the effective date of the amendments in ASU 2018-12 for all insurance entities. ASU 2018-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption is allowed. For the liability for future policyholder benefits for traditional and limited payment contracts, companies can elect one of two adoption methods. Companies can either elect a modified retrospective transition method applied to contracts in force as of the beginning of the earliest period presented on the basis of their existing carrying amounts, adjusted for the removal of any related amounts in AOCI or a full retrospective transition method using actual historical experience information as of contract inception. The same adoption method must be used for deferred policy acquisition costs. For MRBs, the ASU should be applied retrospectively as of the beginning of the earliest period presented. The Company continues to progress with implementation efforts and the evaluation of the impact that adoption of this guidance will have on the Company’s consolidated financial statements. Due to its extensive nature, the adoption of the ASU is expected to have a significant impact on the Company’s consolidated financial statements, as well as systems, processes and controls. Effective January 1, 2023, the new guidance will be adopted using the modified retrospective approach, except for MRBs which will use the full retrospective approach. The Company has created a governance framework and implementation plan to ensure timely adoption of the guidance. In preparation for implementation, the Company continues to refine key accounting policy decisions, modernize processes and update internal controls. These changes include modifications of actuarial valuation systems, data sourcing, analytical procedures and reporting processes. The impact on total equity of applying this ASU is estimated to be slightly positive to the current amount of reported total equity as of March 31, 2022. As of March 31, 2022, a positive impact to AOCI is expected due to increases in the Company’s estimate of its non-performance risk on variable annuity guarantees accounted for as MRBs for the first time under the guidance. The estimated impact to the retained earnings element of total equity as of March 31, 2022, due to accounting for variable annuity guarantees as MRBs that are not currently measured at fair value, is mitigated by the Company’s present use of a near industry low interest rate assumption of 2.25% on GMIB business. Because movements in equity markets, interest rates and credit spreads are unpredictable and at times volatile, it is possible that the estimated effects of adoption could change materially between March 31, 2022 and January 1, 2023.

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Available-for-Sale Fixed Maturities by Classification	The following tables provide information relating to the Company’s fixed maturities classified as AFS. AFS Fixed Maturities by Classification Amortized Allowance for Credit Losses Gross Gross Fair Value (in millions) March 31, 2022 Fixed Maturities: Corporate (1) $ 47,337 $ 21 $ 602 $ 2,215 $ 45,703 U.S. Treasury, government and agency 8,577 — 712 87 9,202 States and political subdivisions 609 — 43 29 623 Foreign governments 1,120 — 17 54 1,083 Residential mortgage-backed (2) 77 — 4 — 81 Asset-backed (3) 7,497 — 9 111 7,395 Commercial mortgage-backed 3,619 — 5 181 3,443 Redeemable preferred stock 40 — 8 — 48 Total at March 31, 2022 $ 68,876 $ 21 $ 1,400 $ 2,677 $ 67,578 December 31, 2021: Fixed Maturities: Corporate (1) $ 45,578 $ 22 $ 2,382 $ 214 $ 47,724 U.S. Treasury, government and agency 13,032 — 2,196 14 15,214 States and political subdivisions 527 — 73 3 597 Foreign governments 1,124 — 42 14 1,152 Residential mortgage-backed (2) 82 — 8 — 90 Asset-backed (3) 5,904 — 20 19 5,905 Commercial mortgage-backed 2,348 — 19 26 2,341 Redeemable preferred stock 41 — 12 — 53 Total at December 31, 2021 $ 68,636 $ 22 $ 4,752 $ 290 $ 73,076 ______________ (1) Corporate fixed maturities include both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types.
Contractual Maturities of Available-for-Sale Fixed Maturities	The contractual maturities of AFS fixed maturities as of March 31, 2022 are shown in the table below. Bonds not due at a single maturity date have been included in the table in the final year of maturity. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Contractual Maturities of AFS Fixed Maturities Amortized Cost (Less Allowance for Credit Losses) Fair Value (in millions) March 31, 2022: Contractual maturities: Due in one year or less $ 854 $ 852 Due in years two through five 13,714 13,631 Due in years six through ten 16,998 16,629 Due after ten years 26,056 25,499 Subtotal 57,622 56,611 Residential mortgage-backed 77 81 Asset-backed 7,497 7,395 Commercial mortgage-backed 3,619 3,443 Redeemable preferred stock 40 48 Total at March 31, 2022 $ 68,855 $ 67,578
Proceeds and Gains (Losses) on Sales for Available-for-Sale Fixed Maturities	The following table shows proceeds from sales, gross gains (losses) from sales and credit losses for AFS fixed maturities for the three months ended March 31, 2022 and 2021: Proceeds from Sales, Gross Gains (Losses) from Sales and Credit Losses for AFS Fixed Maturities Three Months Ended March 31, 2022 2021 (in millions) Proceeds from sales $ 7,336 $ 7,188 Gross gains on sales $ 29 $ 291 Gross losses on sales $ (361) $ (116) Credit losses $ 1 $ (6)
AFS Fixed Maturities - Credit Loss Impairments	The following table sets forth the amount of credit loss impairments on AFS fixed maturities held by the Company at the dates indicated and the corresponding changes in such amounts. AFS Fixed Maturities - Credit Loss Impairments Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ 42 $ 28 Previously recognized impairments on securities that matured, paid, prepaid or sold (2) — Recognized impairments on securities impaired to fair value this period (1) — — Credit losses recognized this period on securities for which credit losses were not previously recognized — 2 Additional credit losses this period on securities previously impaired 1 4 Increases due to passage of time on previously recorded credit losses — — Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior) — — Balance at March 31, $ 41 $ 34 ______________ (1) Represents circumstances where the Company determined in the current period that it intends to sell the security, or it is more likely than not that it will be required to sell the security before recovery of the security’s amortized cost.
Net Unrealized Gains (Losses) on Available-for-Sale Fixed Maturities	The tables that follow below present a roll-forward of net unrealized investment gains (losses) recognized in AOCI. Net Unrealized Gains (Losses) on AFS Fixed Maturities Net Unrealized Gains (Losses) on Investments DAC Policyholders’ Liabilities Deferred Income Tax Asset (Liability) AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses) (in millions) Balance, January 1, 2022 $ 4,462 $ (284) $ (977) $ (673) $ 2,528 Net investment gains (losses) arising during the period (6,065) — — — (6,065) Reclassification adjustment: — Included in net income (loss) 331 — — — 331 Excluded from net income (loss) — — — — — Other — — — — — Impact of net unrealized investment gains (losses) — 527 765 934 2,226 Net unrealized investment gains (losses) excluding credit losses (1,272) 243 (212) 261 (980) Net unrealized investment gains (losses) with credit losses (5) 1 (1) 1 (4) Balance, March 31, 2022 $ (1,277) $ 244 $ (213) $ 262 $ (984) Balance, January 1, 2021 $ 8,230 $ (466) $ (1,814) $ (1,250) $ 4,700 Net investment gains (losses) arising during the period (4,891) — — — (4,891) Reclassification adjustment: — Included in Net income (loss) (176) — — — (176) Excluded from Net income (loss) — — — — — Other (1) (31) — — — (31) Impact of net unrealized investment gains (losses) — 164 1,001 826 1,991 Net unrealized investment gains (losses) excluding credit losses 3,132 (302) (813) (424) 1,593 Net unrealized investment gains (losses) with credit losses (8) 1 2 1 (4) Balance, March 31, 2021 $ 3,124 $ (301) $ (811) $ (423) $ 1,589 (1) Effective January 1, 2021, certain preferred stock have been reclassified to other equity investments
Continuous Gross Unrealized Losses for Available-for-Sale Fixed Maturities	The following tables disclose the fair values and gross unrealized losses of the 7,799 issues as of March 31, 2022 and the 1,896 issues as of December 31, 2021 that are not deemed to have credit losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for the specified periods at the dates indicated: AFS Fixed Maturities in an Unrealized Loss Position for Which No Allowance Is Recorded Less Than 12 Months 12 Months or Longer Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (in millions) March 31, 2022 Fixed Maturities: Corporate $ 26,224 $ 1,966 $ 2,406 $ 245 $ 28,630 $ 2,211 U.S. Treasury, government and agency 2,753 77 92 10 2,845 87 States and political subdivisions 225 26 12 3 237 29 Foreign governments 606 39 120 15 726 54 Asset-backed 6,203 108 178 3 6,381 111 Commercial mortgage-backed 2,787 162 165 19 2,952 181 Total at March 31, 2022 $ 38,798 $ 2,378 $ 2,973 $ 295 $ 41,771 $ 2,673 December 31, 2021: Fixed Maturities: Corporate $ 9,497 $ 150 $ 1,301 $ 62 $ 10,798 $ 212 U.S. Treasury, government and agency 947 10 103 4 1,050 14 States and political subdivisions 112 2 11 1 123 3 Foreign governments 349 6 92 8 441 14 Asset-backed 3,843 19 38 — 3,881 19 Commercial mortgage-backed 1,515 22 96 4 1,611 26 Total at December 31, 2021 $ 16,263 $ 209 $ 1,641 $ 79 $ 17,904 $ 288
Financing Receivable, Allowance for Credit Loss on Mortgage Loans	The change in the allowance for credit losses for commercial mortgage loans and agricultural mortgage loans during the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 (in millions) Allowance for credit losses on mortgage loans: Commercial mortgages: Balance, beginning of period $ 57 $ 77 Current-period provision for expected credit losses (10) (7) Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance (10) (7) Balance, end of period $ 47 $ 70 Agricultural mortgages: Balance, beginning of period $ 5 $ 4 Current-period provision for expected credit losses 1 Write-offs charged against the allowance — — Recoveries of amounts previously written off — — Net change in allowance 1 — Balance, end of period $ 6 $ 4 Total allowance for credit losses $ 53 $ 74
Financing Receivable Credit Quality Indicators	The following tables summarize the Company’s mortgage loans segregated by risk rating exposure as of March 31, 2022 and December 31, 2021. LTV Ratios (1) March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ — $ 184 $ 1,187 $ 1,371 50% - 70% 450 1,915 1,361 418 619 3,166 7,929 70% - 90% 140 243 236 412 414 1,100 2,545 90% plus — — — — 35 — 35 Total commercial $ 590 $ 2,158 $ 1,597 $ 830 $ 1,252 $ 5,453 $ 11,880 Agricultural: 0% - 50% $ 47 $ 180 $ 214 $ 122 $ 139 $ 835 $ 1,537 50% - 70% 70 196 261 92 96 337 1,052 70% - 90% 1 — — — — 18 19 90% plus — — — — — — — Total agricultural $ 118 $ 376 $ 475 $ 214 $ 235 $ 1,190 $ 2,608 Total mortgage loans: 0% - 50% $ 47 $ 180 $ 214 $ 122 $ 323 $ 2,022 $ 2,908 50% - 70% 520 2,111 1,622 510 715 3,503 8,981 70% - 90% 141 243 236 412 414 1,118 2,564 90% plus — — — — 35 — 35 Total mortgage loans $ 708 $ 2,534 $ 2,072 $ 1,044 $ 1,487 $ 6,643 $ 14,488 Debt Service Coverage Ratios (2) March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 197 $ 1,143 $ 1,259 $ 210 $ 772 $ 2,246 $ 5,827 1.8x to 2.0x 94 186 135 322 46 743 1,526 1.5x to 1.8x 261 274 109 223 215 1,244 2,326 1.2x to 1.5x — 264 — 75 47 778 1,164 1.0x to 1.2x 38 291 94 — 88 370 881 Less than 1.0x — — — — 84 72 156 Total commercial $ 590 $ 2,158 $ 1,597 $ 830 $ 1,252 $ 5,453 $ 11,880 Agricultural: Greater than 2.0x $ 18 $ 48 $ 63 $ 23 $ 12 $ 226 $ 390 1.8x to 2.0x 8 51 37 25 14 73 208 1.5x to 1.8x 26 43 113 28 23 217 450 1.2x to 1.5x 23 157 178 101 108 376 943 1.0x to 1.2x 37 76 80 31 74 284 582 Less than 1.0x 6 1 4 6 4 14 35 Total agricultural $ 118 $ 376 $ 475 $ 214 $ 235 $ 1,190 $ 2,608 March 31, 2022 Amortized Cost Basis by Origination Year 2022 2021 2020 2019 2018 Prior Total (in millions) Total mortgage loans: Greater than 2.0x $ 215 $ 1,191 $ 1,322 $ 233 $ 784 $ 2,472 $ 6,217 1.8x to 2.0x 102 237 172 347 60 816 1,734 1.5x to 1.8x 287 317 222 251 238 1,461 2,776 1.2x to 1.5x 23 421 178 176 155 1,154 2,107 1.0x to 1.2x 75 367 174 31 162 654 1,463 Less than 1.0x 6 1 4 6 88 86 191 Total mortgage loans $ 708 $ 2,534 $ 2,072 $ 1,044 $ 1,487 $ 6,643 $ 14,488 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service. LTV Ratios (1) December 31, 2021 Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Total (in millions) Mortgage loans: Commercial: 0% - 50% $ — $ — $ — $ 184 $ 293 $ 992 $ 1,469 50% - 70% 1,967 1,334 407 619 491 2,533 7,351 70% - 90% 190 236 412 415 276 972 2,501 90% plus — — — 35 5 73 113 Total commercial $ 2,157 $ 1,570 $ 819 $ 1,253 $ 1,065 $ 4,570 $ 11,434 Agricultural: 0% - 50% $ 180 $ 212 $ 128 $ 129 $ 119 $ 738 $ 1,506 50% - 70% 200 268 102 126 87 338 1,121 70% - 90% — — — — — 17 17 90% plus — — — — — — — Total agricultural $ 380 $ 480 $ 230 $ 255 $ 206 $ 1,093 $ 2,644 Total mortgage loans: 0% - 50% $ 180 $ 212 $ 128 $ 313 $ 412 $ 1,730 $ 2,975 50% - 70% 2,167 1,602 509 745 578 2,871 8,472 70% - 90% 190 236 412 415 276 989 2,518 90% plus — — — 35 5 73 113 Total mortgage loans $ 2,537 $ 2,050 $ 1,049 $ 1,508 $ 1,271 $ 5,663 $ 14,078 Debt Service Coverage Ratios (2) December 31, 2021 Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Total (in millions) Mortgage loans: Commercial: Greater than 2.0x $ 1,143 $ 1,243 $ 210 $ 772 $ 485 $ 2,218 $ 6,071 1.8x to 2.0x 185 135 250 46 161 372 1,149 1.5x to 1.8x 275 97 284 211 166 919 1,952 1.2x to 1.5x 264 95 75 101 253 701 1,489 1.0x to 1.2x 290 — — 88 — 287 665 Less than 1.0x — — — 35 — 73 108 Total commercial $ 2,157 $ 1,570 $ 819 $ 1,253 $ 1,065 $ 4,570 $ 11,434 Agricultural: Greater than 2.0x $ 49 $ 64 $ 25 $ 22 $ 24 $ 210 $ 394 1.8x to 2.0x 52 37 25 14 14 70 212 1.5x to 1.8x 43 113 28 22 41 193 440 1.2x to 1.5x 161 179 112 116 72 355 995 1.0x to 1.2x 75 83 31 77 54 226 546 Less than 1.0x — 4 9 4 1 39 57 Total agricultural $ 380 $ 480 $ 230 $ 255 $ 206 $ 1,093 $ 2,644 Total mortgage loans: Greater than 2.0x $ 1,192 $ 1,307 $ 235 $ 794 $ 509 $ 2,428 $ 6,465 1.8x to 2.0x 237 172 275 60 175 442 1,361 1.5x to 1.8x 318 210 312 233 207 1,112 2,392 1.2x to 1.5x 425 274 187 217 325 1,056 2,484 1.0x to 1.2x 365 83 31 165 54 513 1,211 Less than 1.0x — 4 9 39 1 112 165 Total mortgage loans $ 2,537 $ 2,050 $ 1,049 $ 1,508 $ 1,271 $ 5,663 $ 14,078 _____________ (1) The LTV ratio is derived from current loan balance divided by the fair value of the property. The fair value of the underlying commercial properties is updated annually for each mortgage loan. (2) The DSC ratio is calculated using the most recently reported operating income results from property operations divided by annual debt service.
Age Analysis Of Past Due Mortgage Loans	The following table provides information relating to the aging analysis of past-due mortgage loans as of March 31, 2022 and December 31, 2021, respectively: Age Analysis of Past Due Mortgage Loans (1) Accruing Loans Non-accruing Loans Total Loans Non-accruing Loans with No Allowance Interest Income on Non-accruing Loans Past Due Current Total 30-59 Days 60-89 Days 90 Days or More Total (in millions) March 31, 2022: Mortgage loans: Commercial $ — $ — $ — $ — $ 11,880 $ 11,880 $ — $ 11,880 $ — $ — Agricultural 9 7 30 46 2,546 2,592 16 2,608 — — Total $ 9 $ 7 $ 30 $ 46 $ 14,426 $ 14,472 $ 16 $ 14,488 $ — $ — December 31, 2021: Mortgage loans: Commercial $ — $ — $ — $ — $ 11,434 $ 11,434 $ — $ 11,434 $ — $ — Agricultural 1 1 25 27 2,601 2,628 16 2,644 — — Total $ 1 $ 1 $ 25 $ 27 $ 14,035 $ 14,062 $ 16 $ 14,078 $ — $ — _______________ (1) Amounts presented at amortized cost basis.
Unrealized and Realized Gains (Losses) from Equity Securities and Net Investment Income (Loss) from Trading Securities	The table below presents a breakdown of unrealized and realized gains and (losses) on equity securities during the three months ended March 31, 2022 and 2021. Unrealized and Realized Gains (Losses) from Equity Securities Three Months Ended March 31, 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (39) $ 17 Net investment gains (losses) recognized on securities sold during the period (11) (6) Unrealized and realized gains (losses) on equity securities $ (50) $ 11 Net Investment Income (Loss) from Trading Securities Three Months Ended March 31, 2022 2021 (in millions) Net investment gains (losses) recognized during the period on securities held at the end of the period $ (16) $ (49) Net investment gains (losses) recognized on securities sold during the period — 22 Unrealized and realized gains (losses) on trading securities (16) (27) Interest and dividend income from trading securities 2 36 Net investment income (loss) from trading securities $ (14) $ 9

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments by Category	The following table presents the gross notional amount and estimated fair value of the Company’s derivatives: Derivative Instruments by Category March 31, 2022 December 31, 2021 Fair Value Fair Value Notional Derivative Assets Derivative Notional Derivative Assets Derivative (in millions) Derivatives: Designated for hedge accounting (1) Cash Flow Hedges: Currency Swaps $ 1,256 $ 11 $ 55 $ 921 $ 7 $ 42 Interest Swaps 955 — 439 955 — 395 Total: Designated for hedge accounting 2,211 11 494 1,876 7 437 Derivatives: Not designated for hedge accounting (1) Equity contracts: Futures 3,831 — — 2,213 — — Swaps 12,350 5 3 13,310 5 — Options 44,305 10,685 4,369 48,380 12,015 5,059 Interest rate contracts: Futures 11,395 — — 12,455 — — Swaps 1,876 5 115 1,876 — 45 Swaptions — — — — — — Credit contracts: Credit default swaps 607 1 3 619 2 3 Currency contracts: Currency Swaps 566 6 — 541 1 — Currency forwards — — — — — — Other freestanding contracts: Margin — 160 — — 102 — Collateral — 217 5,741 — 178 6,154 Total: Not designated for hedge accounting 74,930 11,079 10,231 79,394 12,303 11,261 March 31, 2022 December 31, 2021 Fair Value Fair Value Notional Derivative Assets Derivative Notional Derivative Assets Derivative (in millions) Embedded Derivatives: Amounts due from reinsurers (5) — 5,056 — — 5,813 — GMIB reinsurance contracts (2) — 1,742 — — 2,068 — GMxB derivative features liability (3) — — 6,924 — — 8,525 SCS, SIO, MSO and IUL indexed features (4) — — 6,018 — — 6,641 Total Embedded Derivatives — 6,798 12,942 — 7,881 15,166 Total derivative instruments $ 77,141 $ 17,888 $ 23,667 $ 81,270 $ 20,191 $ 26,864 ______________ (1) Reported in other invested assets in the consolidated balance sheets. (2) Reported in GMIB reinsurance contract asset in the consolidated balance sheets. (3) Reported in future policy benefits and other policyholders’ liabilities in the consolidated balance sheets. (4) Reported in policyholders’ account balances in the consolidated balance sheets. (5) Represents GMIB NLG ceded related to the Venerable Transaction. Derivative Instruments by Category Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 Net Interest Credited To Policyholders Account Balances AOCI Net Interest Credited To Policyholders Account Balances AOCI (in millions) Derivatives: Designated for hedge accounting Cash flow hedges: Currency Swaps $ (4) $ (18) $ 13 $ — $ — $ — Interest Swaps (14) — (20) (4) — (6) Total: Designated for hedge accounting (18) (18) (7) (4) — (6) Derivatives: Not designated for hedge accounting Equity contracts: Futures 59 — — (293) — — Swaps 726 — — (1,270) — — Options (287) — — 1,143 — — Interest rate contracts: Futures (500) — — (947) — — Swaps (149) — — (2,912) — — Swaptions — — — — — — Credit contracts: Credit default swaps — — — 1 — — Currency contracts: Currency swaps 5 — — — — — Currency forwards — — — — — — Other freestanding contracts: Margin — — — — — — Collateral — — — — — — Total: Not designated for hedge accounting (146) — — (4,278) — — Embedded Derivatives: Amounts due from reinsurers (767) — — — — — GMIB reinsurance contracts (320) — — (724) — — GMxB derivative features liability 1,688 — — 3,357 — — SCS, SIO, MSO and IUL indexed features 311 — — (1,126) — — Total Embedded Derivatives 912 — — 1,507 — — Total derivatives instruments $ 748 $ (18) $ (7) $ (2,775) $ — $ (6) ______________ (1) Reported in net derivative gains (losses) in the consolidated statements of income (loss). (2) For the three months ended March 31, 2022 and 2021, investment fees of $3 million and $3 million respectively, are reported in net derivative gains (losses) in the consolidated statements of income (loss).
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The table that follow below present a roll-forward of cash flow hedges recognized in AOCI. Rollforward of Cash flow hedges in AOCI Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ (208) $ (126) Amount recorded in AOCI — — Currency Swaps (3) — Interest Swaps (39) (22) Total Amount recorded in AOCI (42) (22) Amount reclassified from AOCI to income — — Currency Swaps 16 — Interest Swaps 19 16 Total Amount reclassified from AOCI to income 35 16 Ending Balance, March 31 (1) $ (215) $ (132) ______________ (1) The Company does not estimate the amount of the deferred losses in AOCI at three months ended March 31, 2022 and 2021 which will be released and reclassified into Net income (loss) over the next 12 months as the amounts cannot be reasonably estimated.
Offsetting Financial Assets and Liabilities and Derivative Instruments	The following tables presents information about the Company’s offsetting of financial assets and liabilities and derivative instruments as of March 31, 2022 and December 31, 2021: Offsetting of Financial Assets and Liabilities and Derivative Instruments As of March 31, 2022 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 11,091 $ 10,582 $ 509 $ — $ 509 Other financial assets 1,252 — 1,252 — 1,252 Other invested assets $ 12,343 $ 10,582 $ 1,761 $ — $ 1,761 Liabilities: Derivative liabilities $ 10,725 $ 10,582 $ 143 $ — $ 143 Other financial liabilities 2,230 — 2,230 — 2,230 Other liabilities $ 12,955 $ 10,582 $ 2,373 $ — $ 2,373 ______________ (1) Financial instruments sent (held). As of December 31, 2021 Gross Amount Recognized Gross Amount Offset in the Balance Sheets Net Amount Presented in the Balance Sheets Gross Amount not Offset in the Balance Sheets (1) Net Amount (in millions) Assets: Derivative assets $ 12,309 $ 10,724 $ 1,585 $ (961) $ 624 Other financial assets 1,325 — 1,325 — 1,325 Other invested assets $ 13,634 $ 10,724 $ 2,910 $ (961) $ 1,949 Liabilities: Derivative liabilities $ 10,738 $ 10,724 $ 14 $ — $ 14 Other financial liabilities 2,064 — 2,064 — 2,064 Other liabilities $ 12,802 $ 10,724 $ 2,078 $ — $ 2,078 ______________ (1) Financial instruments sent (held).

CLOSED BLOCK (Tables)

CLOSED BLOCK (Tables)	3 Months Ended
	Mar. 31, 2022
Closed Block Disclosure [Abstract]
Schedule of Closed Block Assets and Liabilities	Summarized financial information for the Company’s Closed Block is as follows: March 31, 2022 December 31, 2021 (in millions) Closed Block Liabilities: Future policy benefits, policyholders’ account balances and other $ 5,866 $ 5,928 Policyholder dividend obligation — — Other liabilities 8 39 Total Closed Block liabilities 5,874 5,967 Assets Designated to the Closed Block: Fixed maturities AFS, at fair value (amortized cost of $3,198 and $3,185) (allowance for credit losses of $0 and $0) 3,200 3,390 Mortgage loans on real estate (net of allowance for credit losses of $3 and $4) 1,693 1,771 Policy loans 595 602 Cash and other invested assets 110 63 Other assets 49 90 Total assets designated to the Closed Block 5,647 5,916 Excess of Closed Block liabilities over assets designated to the Closed Block 227 51 Amounts included in AOCI: Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $0 and $(43) 12 172 Maximum future earnings to be recognized from Closed Block assets and liabilities $ 239 $ 223
Closed Block Operations, Net Results	The Company’s Closed Block revenues and expenses were as follows: Three Months Ended March 31, 2022 2021 (in millions) Revenues: Premiums and other income $ 33 $ 39 Net investment income (loss) 58 60 Investment gains (losses), net 1 — Total revenues 92 99 Benefits and Other Deductions: Policyholders’ benefits and dividends 76 106 Other operating costs and expenses — 1 Total benefits and other deductions 76 107 Net income (loss), before income taxes 16 (8) Income tax (expense) benefit 1 (1) Net income (loss) $ 17 $ (9)
Closed Block Dividend Obligation	A reconciliation of the Company’s policyholder dividend obligation follows: Three Months Ended March 31, 2022 2021 (in millions) Beginning balance $ — $ 160 Unrealized investment gains (losses) — (132) Ending balance $ — $ 28

INSURANCE LIABILITIES (Tables)

INSURANCE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Insurance [Abstract]
GMDB and GMIB Liabilities and Other Policyholder's Liabilities	Change in Liability for Variable Annuity Contracts with GMDB and GMIB Features and No NLG Feature Three Months Ended March 31, 2022 and 2021 GMDB GMIB Direct Ceded Direct Ceded (in millions) Balance, January 1, 2022 $ 5,011 $ (2,237) $ 5,952 $ (4,207) Paid guarantee benefits (133) 56 (121) 16 Other changes in reserve 223 (93) 250 263 Balance, March 31, 2022 $ 5,101 $ (2,274) $ 6,081 $ (3,928) Balance, January 1, 2021 $ 5,093 $ (84) $ 6,025 $ (2,859) Paid guarantee benefits (133) 4 (91) 13 Other changes in reserve 123 (1) 32 713 Balance, March 31, 2021 $ 5,083 $ (81) $ 5,966 $ (2,133)
Variable Annuity Contracts with GMDB and GMIB Features	Account Values and NAR for direct variable annuity contracts in force with GMDB and GMIB features as of March 31, 2022 are presented in the following tables by guarantee type. For contracts with the GMDB feature, the NAR in the event of death is the amount by which the GMDB feature exceeds the related Account Values. For contracts with the GMIB feature, the NAR in the event of annuitization is the amount by which the present value of the GMIB benefits exceed the related Account Values, taking into account the relationship between current annuity purchase rates and the GMIB guaranteed annuity purchase rates. Since variable annuity contracts with GMDB features may also offer GMIB guarantees in the same contract, the GMDB and GMIB amounts listed are not mutually exclusive. Direct Variable Annuity Contracts with GMDB and GMIB Features as of March 31, 2022 Guarantee Type Return of Premium Ratchet Roll-Up Combo Total (in millions, except age and interest rate) Variable annuity contracts with GMDB features Account Values invested in: General Account $ 16,395 $ 86 $ 50 $ 156 $ 16,687 Separate Accounts 55,292 8,977 3,107 31,437 98,813 Total Account Values $ 71,687 $ 9,063 $ 3,157 $ 31,593 $ 115,500 NAR, gross $ 167 $ 323 $ 1,486 $ 18,079 $ 20,055 NAR, net of amounts reinsured $ 162 $ 289 $ 1,057 $ 9,363 $ 10,871 Average attained age of policyholders (in years) 51.5 69.3 75.6 71.3 55.6 Percentage of policyholders over age 70 11.8% 52.0% 73.1% 57.9% 20.8% Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5% Variable annuity contracts with GMIB features Account Values invested in: General Account $ — $ — $ 15 $ 201 $ 216 Separate Accounts — — 24,220 33,461 57,681 Total Account Values $ — $ — $ 24,235 $ 33,662 $ 57,897 NAR, gross $ — $ — $ 586 $ 8,673 $ 9,259 NAR, net of amounts reinsured $ — $ — $ 188 $ 3,539 $ 3,727 Average attained age of policyholders (in years) N/A N/A 65.2 71.0 68.8 Weighted average years remaining until annuitization N/A N/A 5.9 0.6 2.6 Range of contractually specified interest rates N/A N/A 3% - 6% 3% - 6.5% 3% - 6.5%
Investment in Variable Insurance Trust Mutual Funds	The following table presents the aggregate fair value of assets, by major investment category, held by Separate Accounts that support variable annuity contracts with GMDB and GMIB features. The investment performance of the assets impacts the related Account Values and, consequently, the NAR associated with the GMDB and GMIB benefits and guarantees. Because the Company’s variable annuity contracts offer both GMDB and GMIB features, GMDB and GMIB amounts are not mutually exclusive. Investment in Variable Insurance Trust Mutual Funds March 31, 2022 December 31, 2021 Mutual Fund Type GMDB GMIB GMDB GMIB (in millions) Equity $ 48,377 $ 18,106 $ 52,744 $ 20,009 Fixed income 5,086 2,330 5,384 2,505 Balanced 44,287 36,984 48,152 40,228 Other 1,063 261 1,025 264 Total $ 98,813 $ 57,681 $ 107,305 $ 63,006
No Lapse Guarantee Liabilities	The change in the NLG liabilities, reflected in future policy benefits and other policyholders’ liabilities in the consolidated balance sheets, is summarized in the table below. Direct Liability Reinsurance Ceded Net (in millions) Balance, January 1, 2022 1,090 (928) 162 Paid guarantee benefits (8) — (8) Other changes in reserves 24 (1) 23 Balance at March 31, 2022 $ 1,106 $ (929) $ 177 Balance, January 1, 2021 1,016 (883) 133 Paid guarantee benefits (15) — (15) Other changes in reserves 44 (18) 26 Balance at March 31, 2021 $ 1,045 $ (901) $ 144

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are summarized below. Fair Value Measurements as of March 31, 2022 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 44,031 $ 1,672 $ 45,703 U.S. Treasury, government and agency — 9,202 — 9,202 States and political subdivisions — 591 32 623 Foreign governments — 1,083 — 1,083 Residential mortgage-backed (2) — 81 — 81 Asset-backed (3) — 7,063 332 7,395 Commercial mortgage-backed — 3,205 238 3,443 Redeemable preferred stock — 48 — 48 Total fixed maturities, AFS — 65,304 2,274 67,578 Other equity investments 219 440 6 665 Trading securities 203 180 — 383 Other invested assets: Short-term investments — — — — Assets of consolidated VIEs/VOEs — — 5 5 Swaps — (584) — (584) Credit default swaps — (2) — (2) Options — 6,316 — 6,316 Total other invested assets — 5,730 5 5,735 Cash equivalents 1,266 794 — 2,060 Amounts due from reinsurer (5) — — 5,056 5,056 GMIB reinsurance contracts asset — — 1,742 1,742 Separate Accounts assets (4) 129,928 2,880 — 132,808 Total Assets $ 131,616 $ 75,328 $ 9,083 $ 216,027 Liabilities: GMxB derivative features’ liability $ — $ — $ 6,924 $ 6,924 SCS, SIO, MSO and IUL indexed features’ liability — 6,018 — 6,018 Total Liabilities $ — $ 6,018 $ 6,924 $ 12,942 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages, credit risk transfer securities and other asset types. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate. As of March 31, 2022 the fair value of such investments was $414 million. (5) This represents GMIB NLG ceded reserves related to Venerable Transaction. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction. Fair Value Measurements as of December 31, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Investments: Fixed maturities, AFS: Corporate (1) $ — $ 46,231 $ 1,493 $ 47,724 U.S. Treasury, government and agency — 15,214 — 15,214 States and political subdivisions — 562 35 597 Foreign governments — 1,152 — 1,152 Residential mortgage-backed (2) — 90 — 90 Asset-backed (3) — 5,897 8 5,905 Commercial mortgage-backed — 2,321 20 2,341 Redeemable preferred stock — 53 — 53 Total fixed maturities, AFS — 71,520 1,556 73,076 Other equity investments 243 434 5 682 Trading securities 193 186 — 379 Other invested assets: Short-term investments — — — — Assets of consolidated VIEs/VOEs — — 8 8 Swaps — (469) — (469) Credit default swaps — (1) — (1) Options — 6,956 — 6,956 Total other invested assets — 6,486 8 6,494 Cash equivalents 1,109 273 — 1,382 Amounts due from reinsurer (5) — — 5,813 5,813 GMIB reinsurance contracts asset — — 2,068 2,068 Separate Accounts assets (4) 140,740 2,565 1 143,306 Total Assets $ 142,285 $ 81,464 $ 9,451 $ 233,200 Liabilities: GMxB derivative features’ liability $ — $ — $ 8,525 $ 8,525 SCS, SIO, MSO and IUL indexed features’ liability — 6,641 — 6,641 Total Liabilities $ — $ 6,641 $ 8,525 $ 15,166 ______________ (1) Corporate fixed maturities includes both public and private issues. (2) Includes publicly traded agency pass-through securities and collateralized obligations. (3) Includes credit-tranched securities collateralized by sub-prime mortgages and other asset types and credit tenant loans. (4) Separate Accounts assets included in the fair value hierarchy exclude investments in entities that calculate NAV per share (or its equivalent) as a practical expedient. Such investments excluded from the fair value hierarchy include investments in real estate and commercial mortgages. As of December 31, 2021 the fair value of such investments was $404 million. (5) This represents GMIB NLG ceded reserves related to Venerable Transaction. See Note 1 of the Notes to these Consolidated Financial Statements for details of the Venerable Transaction.
Reconciliation of Assets and Liabilities at Level 3	The tables below present reconciliations for all Level 3 assets and liabilities and changes in unrealized gains (losses) for the three months ended March 31, 2022 and 2021, respectively. Corporate State and Political Subdivisions CMBS Asset-backed (in millions) Balance, January 1, 2022 $ 1,493 $ 35 $ 20 $ 8 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — — Investment gains (losses), net 1 — — — Subtotal 2 — — — Other comprehensive income (loss) (30) (3) (1) — Purchases 231 — 219 325 Sales (86) — — (1) Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 70 — — — Transfers out of Level 3 (1) (8) — — — Balance, March 31, 2022 $ 1,672 $ 32 $ 238 $ 332 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ (28) $ (2) $ (1) $ — Balance, January 1, 2021 $ 1,687 $ 39 $ — $ 20 Total gains and (losses), realized and unrealized, included in: Net income (loss) as: Net investment income (loss) 1 — — Investment gains (losses), net (6) — — Subtotal (5) — — — Other comprehensive income (loss) 9 (1) — — Purchases 165 — 4 50 Sales (67) — — (5) Activity related to consolidated VIEs/VOEs — — — — Transfers into Level 3 (1) 2 — — — Transfers out of Level 3 (1) (549) — — — Balance, March 31, 2021 $ 1,242 $ 38 $ 4 $ 65 Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (2) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (2) $ 9 $ (1) $ — $ — ______________ (1) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (2) For instruments held as of March 31, 2022 and March 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income. Other Equity Investments (6) Amounts Due from Reinsurers GMIB Reinsurance Contract Asset Separate Accounts Assets GMxB Derivative Features Liability (in millions) Balance, January 1, 2022 $ 13 $ 5,815 $ 2,068 $ 1 $ (8,525) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — Net derivative gains (losses) (1) — (767) (320) — 1,688 Total realized and unrealized gains (losses) — (767) (320) — 1,688 Other comprehensive income (loss) — — — — — Purchases (2) — 34 10 — (118) Sales (3) — (26) (16) (1) 31 Other (5) — — — — — Activity related to consolidated VIEs/VOEs (2) — — — — Transfers into Level 3 (4) — — — — — Transfers out of Level 3 (4) — — — — — Balance, March 31, 2022 $ 11 $ 5,056 $ 1,742 $ — $ (6,924) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (5) $ — $ (767) $ (320) $ — $ 1,688 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (5) $ — $ — $ — $ — $ — Balance, January 1, 2021 $ 15 $ — $ 2,859 $ 1 $ (10,936) Realized and unrealized gains (losses), included in Net income (loss) as: Investment gains (losses), reported in net investment income — — — — — Net derivative gains (losses) — — (724) — 3,357 Total realized and unrealized gains (losses) — — (724) — 3,357 Other comprehensive income (loss) — — — — — Purchases (2) — — 12 — (117) Sales (3) (1) — (14) — 15 Change in estimate (4) — — — — — Activity related to consolidated VIEs/VOEs (2) — — — — Transfers into Level 3 (4) — — — — — Transfers out of Level 3 (4) — — — (1) — Balance, March 31, 2021 $ 12 $ — $ 2,133 $ — $ (7,681) Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period (5) $ — $ — $ (724) $ — $ 3,357 Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period (5) $ — $ — $ — $ — $ — ______________ (1) For the three months ended March 31, 2022 and 2021, the Company’s non-performance risk impact of $483 million and $84 million for the GMxB Derivative Features Liability, $(45) million and $(16) million for the GMIB Reinsurance Contract Asset, and $(42) million and $0 million for the Amounts due from Reinsurers, respectively, is recorded through Net derivative gains (losses). (2) For the GMIB reinsurance contract asset, Amounts Due from Reinsurers and GMxB derivative features liability, represents attributed fee. (3) For the GMIB reinsurance contract asset and Amounts Due from Reinsurers, represents recoveries from reinsurers and for GMxB derivative features liability represents benefits paid. (4) Transfers into/out of the Level 3 classification are reflected at beginning-of-period fair values. (5) For instruments held as of March 31, 2022 and March 31, 2021, amounts are included in net investment income or net derivative gains (losses) in the consolidated statements of income (loss) or unrealized gains (losses) on investments in the consolidated statements of comprehensive income.
Quantitative Information About Level 3 Fair Value Measurement	The following tables disclose quantitative information about Level 3 fair value measurements by category for assets and liabilities as of March 31, 2022 and December 31, 2021, respectively. Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2022 Fair Valuation Technique Significant Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 325 Matrix pricing model Spread over Benchmark 20 bps - 299 bps 105 bps 891 Market comparable companies EBITDA multiples Discount Rate Cashflow Multiples Loan to Value 5.0x - 77.6x 7.2% - 33.6% 0.5x - 11.6x 0.0% - 62.1% 13.9x 9.8% 6.4x 30.0% Other equity investments 4 Market comparable companies Revenue multiple 7.7x - 9.5x 9.2x Fair Valuation Technique Significant Range Weighted Average (2) GMIB reinsurance contract asset 1,742 Discounted cash flow Lapse rates Withdrawal Rates GMIB Utilization Rates Non-performance risk Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.45% - 20.86% 0.27% - 8.66% 0.04% - 60.44% 82 bps - 130 bps 9% - 32% 0.01% - 0.17% 0.06% - 0.53% 0.31% - 40.00% 2.78% 0.91% 5.28% 84 bps 24% 2.85% (same for all ages) (same for all ages) Amount Due from Reinsurers 5,056 Discounted Cash Flow Lapse rates Withdrawal Rates GMIB Utilization Rates Non-performance risk (bps) Volatility rates - Equity Mortality: Ages 0-40 Ages 41-60 Ages 61-115 0.45% - 20.86% 0.27% - 8.66% 0.04% - 60.44% 48 bps 9% - 32% 0.01% - 0.17% 0.06% - 0.53% 0.31% - 40.00% 1.79% 1.15% 7.40% 48 bps 24% 2.17% (same for all ages) (same for all ages) Liabilities: GMIB NLG 6,936 Discounted cash flow Non-performance risk Lapse Withdrawal Annuitization Mortality (1): Ages 0-40 Ages 41-60 Ages 61-115 151 bps 1.04% - 23.57% 0.27% - 8.66% 0.03% - 100.00% 0.01% - 0.19% 0.07% - 0.57% 0.44% - 43.60% 151 bps 3.69% 1.03% 5.37% 1.62% (same for all ages) (same for all ages) GWBL/GMWB 83 Discounted cash flow Lapse rates Withdrawal Rates Utilization Rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 0.00% - 8.00% 100% once starting 9% - 32% 151 bps 2.78% 0.91% 24% GIB (93) Discounted cash flow Lapse rates Withdrawal Rates Utilization Rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 0.13% - 8.66% 0.04% - 100.00% 9% - 32% 151 bps 2.78% 0.91% 5.28% 24% GMAB (3) Discounted cash flow Lapse rates Volatility rates - Equity Non-performance risk 0.60% - 20.86% 9% - 32% 151 bps 2.78% 24% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For lapses, withdrawals, and utilizations the rates were weighted by counts, for mortality weighted average rates are shown for all ages combined and for withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals. Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2021 Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average (2) (in millions) Assets: Investments: Fixed maturities, AFS: Corporate $ 248 Matrix pricing model Spread over benchmark 20 - 270 bps 146 bps 888 Market comparable companies EBITDA multiples Cash flow multiples Loan to Value 4.9x - 62.3x 6.2% - 21.5% 0.5x -10.0x 3.1%-63.4% 13.0x 9.1% 5.5x 30.8% Other equity investments 4 Market comparable companies Revenue multiple 7.8x - 10.3x 9.5x GMIB reinsurance contract asset 2,068 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 57 bps - 93 bps 0.45%-20.86% 0.27%-8.66% 0.04%-60.44% 11%-31% 0.01%-0.17% 0.06%-0.53% 0.31%-40.00% 60 bps 2.65% 0.93% 5.27% 24% 2.79% (same for all ages) (same for all ages) Amount Due from Reinsurers 5,813 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 37 bps 0.45%-20.86% 0.27%-8.66% 0.04%-60.44% 11%-31% 0.01%-0.17% 0.06%-0.53% 0.31%-40.00% 37 bps 1.70% 1.18% 7.20% 24% 2.17% (same for all ages) (same for all ages) Liabilities: GMIB NLG 8,503 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Annuitization rates Mortality rates (1): Ages 0 - 40 Ages 41 - 60 Ages 61 - 115 111 bps 1.04%-23.57% 0.27%-8.66% 0.03%-100.00% 0.01%-0.19% 0.07%-0.57% 0.44%-43.60% 111 bps 3.55% 1.04% 5.24% 1.62% (same for all ages) (same for all ages) GWBL/GMWB 99 Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity 111 bps 0.60%-20.86% 0.00%-8.00% 100% once starting 11%-31% 2.65% 0.93% 24% GIB (75) Discounted cash flow Non-performance risk Lapse rates Withdrawal rates Utilization rates Volatility rates - Equity 111 bps 0.60%-20.86% 0.13%-8.66% 0.04%-100.00% 11%-31% 2.65% 0.93% 5.27% 24% GMAB (3) Discounted cash flow Non-performance risk Lapse rates Volatility rates - Equity 111 bps 0.60%-20.86% 11%-31% 2.65% 24% ______________ (1) Mortality rates vary by age and demographic characteristic such as gender. Mortality rate assumptions are based on a combination of company and industry experience. A mortality improvement assumption is also applied. For any given contract, mortality rates vary throughout the period over which cash flows are projected for purposes of valuating the embedded derivatives. (2) For lapses, withdrawals, and utilizations the rates were weighted by counts, for mortality weighted average rates are shown for all ages combined and for withdrawals the weighted averages were based on an estimated split of partial withdrawal and dollar-for-dollar withdrawals.
Fair Value Disclosure Financial Instruments Not Carried At Fair Value	The carrying values and fair values as of March 31, 2022 and December 31, 2021 for financial instruments not otherwise disclosed in Note 3 and Note 4 of the Notes to these Consolidated Financial Statements are presented in the table below: Carrying Values and Fair Values for Financial Instruments Not Otherwise Disclosed Carrying Value Fair Value Level 1 Level 2 Level 3 Total (in millions) March 31, 2022: Mortgage loans on real estate $ 14,435 $ — $ — $ 13,894 $ 13,894 Policy loans $ 3,533 $ — $ — $ 4,423 $ 4,423 Loans to affiliates $ 1,900 $ — $ 1,861 $ — $ 1,861 Policyholders’ liabilities: Investment contracts $ 1,895 $ — $ — $ 1,865 $ 1,865 FHLB funding agreements $ 6,088 $ — $ 6,047 $ — $ 6,047 FABN funding agreements $ 6,673 $ — $ 6,271 $ — $ 6,271 Separate Accounts liabilities $ 11,785 $ — $ — $ 11,785 $ 11,785 December 31, 2021: Mortgage loans on real estate $ 14,016 $ 14,291 $ 14,291 Policy loans $ 3,540 $ 4,512 $ 4,512 Loans to affiliates $ 1,900 $ 1,974 $ 1,974 Policyholders’ liabilities: Investment contracts (1) $ 1,916 $ 1,980 $ 1,980 FHLB funding agreements $ 6,647 $ 6,679 $ 6,679 FABN funding agreements $ 6,689 $ 6,626 $ 6,626 Separate Accounts liabilities $ 11,620 $ 11,620 $ 11,620 _____________ (1) Reflects transfer of certain policyholders account balances to future policyholder benefits and other policyholders liabilities related to structured settlement which occurred during July 2021.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of March 31, 2022 and December 31, 2021 follow: March 31, December 31, 2022 2021 (in millions) Unrealized gains (losses) on investments $ (1,154) $ 2,362 Defined benefit pension plans (5) (5) Accumulated other comprehensive income (loss) attributable to Equitable Financial $ (1,159) $ 2,357
Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes	The components of OCI, net of taxes for the three months ended March 31, 2022 and 2021, follow: Three Months Ended March 31, 2022 2021 (in millions) Change in net unrealized gains (losses) on investments: Net unrealized gains (losses) arising during the period $ (4,795) $ (3,868) (Gains) losses reclassified into net income (loss) during the period (1) 261 (164) Net unrealized gains (losses) on investments (4,534) (4,032) Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other 1,018 918 Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(935) and $828) (3,516) (3,114) Other comprehensive income (loss), attributable to Equitable Financial $ (3,516) $ (3,114) ____________ (1) See “Reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(70) million and $44 million for the three months ended March 31, 2022 and 2021, respectively.

REDEEMABLE NONCONTROLLING INT_2

REDEEMABLE NONCONTROLLING INTEREST (Tables)	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	The changes in the components of redeemable noncontrolling interests are presented in the table that follows: Three Months Ended March 31, 2022 2021 (in millions) Balance, beginning of period $ 28 $ 41 Net earnings (loss) attributable to redeemable noncontrolling interests $ (1) $ — Purchase/change of redeemable noncontrolling interests $ 2 $ 7 Balance, end of period $ 29 $ 48

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Activity of Funding Agreements	Change in FHLB Funding Agreements during the Three Months Ended March 31, 2022 Outstanding Balance at December 31, 2021 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Outstanding Balance at March 31, 2022 (in millions) Short-term funding agreements: Due in one year or less $ 5,353 $ 13,688 $ 14,435 $ — $ — $ 4,606 Long-term funding agreements: Due in years two through five 1,290 13 — — — 1,303 Due in more than five years — 175 — — — 175 Total long-term funding agreements 1,290 188 — — — 1,478 Total funding agreements (1) $ 6,643 $ 13,876 $ 14,435 $ — $ — $ 6,084 ____________ (1) The $4 million and $4 million difference between the funding agreements carrying value shown in fair value table for March 31, 2022 and December 31, 2021, respectively, reflects the remaining amortization of a hedge implemented and closed, which locked in the funding agreements borrowing rates. Change in FABN Funding Agreements during the Three Months Ended March 31, 2022 Outstanding Balance at December 31, 2021 Issued During the Period Repaid During the Period Long-term Agreements Maturing Within One Year Long-term Agreements Maturing Within Five Years Foreign Currency Transaction Adjustment Outstanding Balance at March 31, 2022 (in millions) Short-term funding agreements: Due in one year or less $ — $ — $ — $ — $ — $ — $ — Long-term funding agreements: Due in years two through five 4,600 — — — — — 4,600 Due in more than five years 2,119 — — — — (16) 2,103 Total long-term funding agreements 6,719 — — — — (16) 6,703 Total funding agreements (1) $ 6,719 $ — $ — $ — $ — $ (16) $ 6,703 _____________

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)principalSubsidiary	Dec. 31, 2021USD ($)	Jun. 01, 2021USD ($)
Organization [Abstract]
Number of principal subsidiaries | principalSubsidiary	2
Entity Information [Line Items]
Assets	$ 253,330,000,000	$ 267,807,000,000
VA Capital Company LLC | Equitable Investment Management Group, LLC
Entity Information [Line Items]
Percentage of voting interests acquired			9.09%
Equitable Financial Life Insurance Company (EFLIC) | Venerable Insurance and Annuity Company (VIAC)
Entity Information [Line Items]
Surplus notes			$ 60,000,000
Corporate Solutions Life Reinsurance Company (CS Life) | Alliance Bernstein
Entity Information [Line Items]
Assets			9,500,000,000
Direct insurance liabilities ceded			9,600,000,000
Separate account, liability, ceded			16,900,000,000
Corporate Solutions Life Reinsurance Company (CS Life) | Alliance Bernstein | GMxB derivative features’ liability
Entity Information [Line Items]
Fair value			$ 5,300,000,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Accounting and Consolidation of Variable Interest Entities (VIEs) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets	$ 253,330	$ 267,807
Investments	90,540	96,680
Consolidated Limited Partnerships
Variable Interest Entity [Line Items]
Assets	222	169
Non-consolidated Vairable Interest Entities
Variable Interest Entity [Line Items]
Assets	259,100	245,700
Investments	2,200	2,100
Variable interest, maximum loss exposure	2,200	2,100
Unfunded commitments	$ 1,200	$ 1,200

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)issue	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)issue	Dec. 31, 2020USD ($)
Net Investment Income [Line Items]
Number of unrealized loss positions | issue	7,799		1,896
Debt securities exposure in single issuer greater than stated percentage of total investments	0.60%
Gross unrealized losses	$ 295,000,000		$ 79,000,000
Allowance for credit loss	53,000,000	$ 74,000,000	62,000,000
Separate account equity investment carrying value	39,000,000		44,000,000
Fixed maturities
Net Investment Income [Line Items]
Accrued investment income receivable	518,000,000		470,000,000
Accrued interest, written off	0	0
Amortized cost	68,900,000,000		68,600,000,000
Corporate
Net Investment Income [Line Items]
Debt securities exposure in single issuer of total investments	$ 253,000,000		$ 280,000,000
Debt securities exposure in single issuer of total investments, percent	4.50%		3.20%
Gross unrealized losses	$ 245,000,000		$ 62,000,000
Commercial mortgage loans
Net Investment Income [Line Items]
Accrued investment income receivable	58,000,000		57,000,000
Accrued interest, written off	0	0
Allowance for credit loss	47,000,000	70,000,000	57,000,000	$ 77,000,000
Non-accruing loans, carrying value	14,000,000		14,000,000
Agricultural mortgage loans
Net Investment Income [Line Items]
Accrued investment income receivable	58,000,000		57,000,000
Accrued interest, written off	0	0
Allowance for credit loss	6,000,000	$ 4,000,000	5,000,000	$ 4,000,000
Individually assessed mortgage loans
Net Investment Income [Line Items]
Mortgage loans foreclosure probable	0
Allowance for credit loss	0
Recurring
Net Investment Income [Line Items]
Investment gains (losses), net	383,000,000		379,000,000
Other than investment grade | Non-investment grade | Fixed maturities
Net Investment Income [Line Items]
Available-for-sale securities, amortized cost basis other than investment grade	$ 3,000,000,000		$ 2,800,000,000
Percentage of available for sale securities	4.30%		4.10%
Unrealized loss on available for sale securities	$ 79,000,000		$ 18,000,000

INVESTMENTS - Available-for-sal

INVESTMENTS - Available-for-sale Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 68,876		$ 68,636
Allowance for Credit Losses	21		22
Gross Unrealized Gains	1,400		4,752
Gross Unrealized Losses	2,677		290
Fair Value	67,578		73,076
Amortized Cost (Less Allowance for Credit Losses)
Due in one year or less	854
Due in years two through five	13,714
Due in years six through ten	16,998
Due after ten years	26,056
Subtotal	57,622
Amortized cost	68,855
Fair Value
Due in one year or less	852
Due in years two through five	13,631
Due in years six through ten	16,629
Due after ten years	25,499
Subtotal	56,611
Fair Value	67,578		73,076
Available For Sale Fixed Maturities Proceeds Gross Gains And Gross Losses From Sales And Other Than Temporary Impairments [Abstract]
Proceeds from sales	7,336	$ 7,188
Gross gains on sales	29	291
Gross losses on sales	(361)	(116)
Credit losses	1	(6)
Fixed Maturities - Credit Loss Impairments
Balances, beginning of period	42	28
Previously recognized impairments on securities that matured, paid, prepaid or sold	(2)	0
Recognized impairments on securities impaired to fair value this period	0	0
Credit losses recognized this period on securities for which credit losses were not previously recognized	0	2
Additional credit losses this period on securities previously impaired	1	4
Increases due to passage of time on previously recorded credit losses	0	0
Accretion of previously recognized impairments due to increases in expected cash flows (for OTTI securities 2019 and prior)	0	0
Balances, end of period	41	$ 34
Corporate
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	47,337		45,578
Allowance for Credit Losses	21		22
Gross Unrealized Gains	602		2,382
Gross Unrealized Losses	2,215		214
Fair Value	45,703		47,724
Fair Value
Fair Value	45,703		47,724
U.S. government, agencies and authorities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,577		13,032
Allowance for Credit Losses	0		0
Gross Unrealized Gains	712		2,196
Gross Unrealized Losses	87		14
Fair Value	9,202		15,214
Fair Value
Fair Value	9,202		15,214
States and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	609		527
Allowance for Credit Losses	0		0
Gross Unrealized Gains	43		73
Gross Unrealized Losses	29		3
Fair Value	623		597
Fair Value
Fair Value	623		597
Foreign governments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,120		1,124
Allowance for Credit Losses	0		0
Gross Unrealized Gains	17		42
Gross Unrealized Losses	54		14
Fair Value	1,083		1,152
Fair Value
Fair Value	1,083		1,152
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	77		82
Allowance for Credit Losses	0		0
Gross Unrealized Gains	4		8
Gross Unrealized Losses	0		0
Fair Value	81		90
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	77
Fair Value
Without single maturity date	81
Fair Value	81		90
Asset-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7,497		5,904
Allowance for Credit Losses	0		0
Gross Unrealized Gains	9		20
Gross Unrealized Losses	111		19
Fair Value	7,395		5,905
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	7,497
Fair Value
Without single maturity date	7,395
Fair Value	7,395		5,905
Commercial mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,619		2,348
Allowance for Credit Losses	0		0
Gross Unrealized Gains	5		19
Gross Unrealized Losses	181		26
Fair Value	3,443		2,341
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	3,619
Fair Value
Without single maturity date	3,443
Fair Value	3,443		2,341
Redeemable preferred stock
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	40		41
Allowance for Credit Losses	0		0
Gross Unrealized Gains	8		12
Gross Unrealized Losses	0		0
Fair Value	48		53
Amortized Cost (Less Allowance for Credit Losses)
Without single maturity date	40
Fair Value
Without single maturity date	48
Fair Value	$ 48		$ 53

INVESTMENTS - Net Unrealized Ga

INVESTMENTS - Net Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 8,706	$ 11,643
Ending balance	5,582	6,907
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Net Unrealized Gains (Losses) on Investments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	4,462	8,230
Net investment gains (losses) arising during the period	(6,065)	(4,891)
Included in Net income (loss)	331	(176)
Excluded from net income (loss)	0	0
Other	0	(31)
Impact of net unrealized investment gains (losses)	0	0
Net unrealized investment gains (losses) excluding OTTI losses	(1,272)	3,132
Net unrealized investment gains (losses) with OTTI losses	(5)	(8)
Ending balance	(1,277)	3,124
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | DAC
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(284)	(466)
Impact of net unrealized investment gains (losses)	527	164
Net unrealized investment gains (losses) excluding OTTI losses	243	(302)
Ending balance	244	(301)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(977)	(1,814)
Impact of net unrealized investment gains (losses)	765	1,001
Net unrealized investment gains (losses) excluding OTTI losses	(212)	(813)
Ending balance	(213)	(811)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(673)	(1,250)
Impact of net unrealized investment gains (losses)	934	826
Net unrealized investment gains (losses) excluding OTTI losses	261	(424)
Ending balance	262	(423)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | AOCI Gain (Loss) Related to Net Unrealized Investment Gains (Losses)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	2,528	4,700
Net investment gains (losses) arising during the period	(6,065)	(4,891)
Included in Net income (loss)	331	(176)
Excluded from net income (loss)	0	0
Other	0	(31)
Impact of net unrealized investment gains (losses)	2,226	1,991
Net unrealized investment gains (losses) excluding OTTI losses	(980)	1,593
Net unrealized investment gains (losses) with OTTI losses	(4)	(4)
Ending balance	(984)	1,589
Fixed maturities, AFS | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | DAC
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	1	1
Fixed maturities, AFS | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Policyholders’ Liabilities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	(1)	2
Fixed maturities, AFS | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | Unrealized Investment Gains Losses All Other | Deferred Income Tax Asset (Liability)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net unrealized investment gains (losses) with OTTI losses	$ 1	$ 1

INVESTMENTS - Fixed Maturities

INVESTMENTS - Fixed Maturities Available-for-sale (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	$ 38,798	$ 16,263
Less Than 12 Months, Gross Unrealized Losses	2,378	209
12 Months or Longer, Fair Value	2,973	1,641
12 Months or Longer, Gross Unrealized Losses	295	79
Total Fair Value	41,771	17,904
Total Gross Unrealized Losses	2,673	288
Corporate
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	26,224	9,497
Less Than 12 Months, Gross Unrealized Losses	1,966	150
12 Months or Longer, Fair Value	2,406	1,301
12 Months or Longer, Gross Unrealized Losses	245	62
Total Fair Value	28,630	10,798
Total Gross Unrealized Losses	2,211	212
U.S. government, agencies and authorities
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	2,753	947
Less Than 12 Months, Gross Unrealized Losses	77	10
12 Months or Longer, Fair Value	92	103
12 Months or Longer, Gross Unrealized Losses	10	4
Total Fair Value	2,845	1,050
Total Gross Unrealized Losses	87	14
States and political subdivisions
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	225	112
Less Than 12 Months, Gross Unrealized Losses	26	2
12 Months or Longer, Fair Value	12	11
12 Months or Longer, Gross Unrealized Losses	3	1
Total Fair Value	237	123
Total Gross Unrealized Losses	29	3
Foreign governments
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	606	349
Less Than 12 Months, Gross Unrealized Losses	39	6
12 Months or Longer, Fair Value	120	92
12 Months or Longer, Gross Unrealized Losses	15	8
Total Fair Value	726	441
Total Gross Unrealized Losses	54	14
Asset-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	6,203	3,843
Less Than 12 Months, Gross Unrealized Losses	108	19
12 Months or Longer, Fair Value	178	38
12 Months or Longer, Gross Unrealized Losses	3	0
Total Fair Value	6,381	3,881
Total Gross Unrealized Losses	111	19
Commercial mortgage-backed
Available For Sale Securities Continuous Unrealized Loss Position [Line Items]
Less Than 12 Months, Fair Value	2,787	1,515
Less Than 12 Months, Gross Unrealized Losses	162	22
12 Months or Longer, Fair Value	165	96
12 Months or Longer, Gross Unrealized Losses	19	4
Total Fair Value	2,952	1,611
Total Gross Unrealized Losses	$ 181	$ 26

INVESTMENTS - Mortgage Loans (D

INVESTMENTS - Mortgage Loans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 62
Balance, end of period	53	$ 74
Commercial mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	57	77
Current-period provision for expected credit losses	(10)	(7)
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	(10)	(7)
Balance, end of period	47	70
Agricultural mortgage loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	5	4
Current-period provision for expected credit losses	1
Write-offs charged against the allowance	0	0
Recoveries of amounts previously written off	0	0
Net change in allowance	1	0
Balance, end of period	$ 6	$ 4

INVESTMENTS - Credit Quality (D

INVESTMENTS - Credit Quality (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Commercial Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	$ 590	$ 2,157
Fiscal year before current fiscal year	2,158	1,570
Two years before current fiscal year	1,597	819
Three years before current fiscal year	830	1,253
Four years before current fiscal year	1,252	1,065
Prior	5,453	4,570
Total	11,880	11,434
Total	11,880	11,434
Non-accruing Loans	0	0
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Commercial Mortgage Loans | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans | 90 Days or  More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	0	0
Commercial Mortgage Loans | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	11,880	11,434
Commercial Mortgage Loans | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	197	1,143
Fiscal year before current fiscal year	1,143	1,243
Two years before current fiscal year	1,259	210
Three years before current fiscal year	210	772
Four years before current fiscal year	772	485
Prior	2,246	2,218
Total	5,827	6,071
Commercial Mortgage Loans | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	94	185
Fiscal year before current fiscal year	186	135
Two years before current fiscal year	135	250
Three years before current fiscal year	322	46
Four years before current fiscal year	46	161
Prior	743	372
Total	1,526	1,149
Commercial Mortgage Loans | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	261	275
Fiscal year before current fiscal year	274	97
Two years before current fiscal year	109	284
Three years before current fiscal year	223	211
Four years before current fiscal year	215	166
Prior	1,244	919
Total	2,326	1,952
Commercial Mortgage Loans | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	264
Fiscal year before current fiscal year	264	95
Two years before current fiscal year	0	75
Three years before current fiscal year	75	101
Four years before current fiscal year	47	253
Prior	778	701
Total	1,164	1,489
Commercial Mortgage Loans | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	38	290
Fiscal year before current fiscal year	291	0
Two years before current fiscal year	94	0
Three years before current fiscal year	0	88
Four years before current fiscal year	88	0
Prior	370	287
Total	881	665
Commercial Mortgage Loans | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	35
Four years before current fiscal year	84	0
Prior	72	73
Total	156	108
Commercial Mortgage Loans | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	184
Four years before current fiscal year	184	293
Prior	1,187	992
Total	1,371	1,469
Commercial Mortgage Loans | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	450	1,967
Fiscal year before current fiscal year	1,915	1,334
Two years before current fiscal year	1,361	407
Three years before current fiscal year	418	619
Four years before current fiscal year	619	491
Prior	3,166	2,533
Total	7,929	7,351
Commercial Mortgage Loans | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	140	190
Fiscal year before current fiscal year	243	236
Two years before current fiscal year	236	412
Three years before current fiscal year	412	415
Four years before current fiscal year	414	276
Prior	1,100	972
Total	2,545	2,501
Commercial Mortgage Loans | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	35
Four years before current fiscal year	35	5
Prior	0	73
Total	35	113
Agricultural Mortgage Loans
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	118	380
Fiscal year before current fiscal year	376	480
Two years before current fiscal year	475	230
Three years before current fiscal year	214	255
Four years before current fiscal year	235	206
Prior	1,190	1,093
Total	2,608	2,644
Total	2,592	2,628
Non-accruing Loans	16	16
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Agricultural Mortgage Loans | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	46	27
Agricultural Mortgage Loans | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	9	1
Agricultural Mortgage Loans | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	7	1
Agricultural Mortgage Loans | 90 Days or  More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	30	25
Agricultural Mortgage Loans | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	2,546	2,601
Agricultural Mortgage Loans | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	18	49
Fiscal year before current fiscal year	48	64
Two years before current fiscal year	63	25
Three years before current fiscal year	23	22
Four years before current fiscal year	12	24
Prior	226	210
Total	390	394
Agricultural Mortgage Loans | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	8	52
Fiscal year before current fiscal year	51	37
Two years before current fiscal year	37	25
Three years before current fiscal year	25	14
Four years before current fiscal year	14	14
Prior	73	70
Total	208	212
Agricultural Mortgage Loans | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	26	43
Fiscal year before current fiscal year	43	113
Two years before current fiscal year	113	28
Three years before current fiscal year	28	22
Four years before current fiscal year	23	41
Prior	217	193
Total	450	440
Agricultural Mortgage Loans | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	161
Fiscal year before current fiscal year	157	179
Two years before current fiscal year	178	112
Three years before current fiscal year	101	116
Four years before current fiscal year	108	72
Prior	376	355
Total	943	995
Agricultural Mortgage Loans | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	37	75
Fiscal year before current fiscal year	76	83
Two years before current fiscal year	80	31
Three years before current fiscal year	31	77
Four years before current fiscal year	74	54
Prior	284	226
Total	582	546
Agricultural Mortgage Loans | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	6	0
Fiscal year before current fiscal year	1	4
Two years before current fiscal year	4	9
Three years before current fiscal year	6	4
Four years before current fiscal year	4	1
Prior	14	39
Total	35	57
Agricultural Mortgage Loans | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	47	180
Fiscal year before current fiscal year	180	212
Two years before current fiscal year	214	128
Three years before current fiscal year	122	129
Four years before current fiscal year	139	119
Prior	835	738
Total	1,537	1,506
Agricultural Mortgage Loans | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	70	200
Fiscal year before current fiscal year	196	268
Two years before current fiscal year	261	102
Three years before current fiscal year	92	126
Four years before current fiscal year	96	87
Prior	337	338
Total	1,052	1,121
Agricultural Mortgage Loans | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	1	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	18	17
Total	19	17
Agricultural Mortgage Loans | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	0
Four years before current fiscal year	0	0
Prior	0	0
Total	0	0
Mortgages Loan
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	708	2,537
Fiscal year before current fiscal year	2,534	2,050
Two years before current fiscal year	2,072	1,049
Three years before current fiscal year	1,044	1,508
Four years before current fiscal year	1,487	1,271
Prior	6,643	5,663
Total	14,488	14,078
Total	14,472	14,062
Non-accruing Loans	16	16
Non-accruing Loans with No Allowance	0	0
Interest Income on Non-accruing Loans	0	0
Mortgages Loan | Past Due
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	46	27
Mortgages Loan | 30-59 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	9	1
Mortgages Loan | 60-89 Days
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	7	1
Mortgages Loan | 90 Days or  More
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	30	25
Mortgages Loan | Current
Financing Receivable, before Allowance for Credit Loss [Abstract]
Total	14,426	14,035
Mortgages Loan | Greater than 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	215	1,192
Fiscal year before current fiscal year	1,191	1,307
Two years before current fiscal year	1,322	235
Three years before current fiscal year	233	794
Four years before current fiscal year	784	509
Prior	2,472	2,428
Total	6,217	6,465
Mortgages Loan | 1.8x to 2.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	102	237
Fiscal year before current fiscal year	237	172
Two years before current fiscal year	172	275
Three years before current fiscal year	347	60
Four years before current fiscal year	60	175
Prior	816	442
Total	1,734	1,361
Mortgages Loan | 1.5x to 1.8x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	287	318
Fiscal year before current fiscal year	317	210
Two years before current fiscal year	222	312
Three years before current fiscal year	251	233
Four years before current fiscal year	238	207
Prior	1,461	1,112
Total	2,776	2,392
Mortgages Loan | 1.2x to 1.5x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	23	425
Fiscal year before current fiscal year	421	274
Two years before current fiscal year	178	187
Three years before current fiscal year	176	217
Four years before current fiscal year	155	325
Prior	1,154	1,056
Total	2,107	2,484
Mortgages Loan | 1.0x to 1.2x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	75	365
Fiscal year before current fiscal year	367	83
Two years before current fiscal year	174	31
Three years before current fiscal year	31	165
Four years before current fiscal year	162	54
Prior	654	513
Total	1,463	1,211
Mortgages Loan | Less than 1.0x
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	6	0
Fiscal year before current fiscal year	1	4
Two years before current fiscal year	4	9
Three years before current fiscal year	6	39
Four years before current fiscal year	88	1
Prior	86	112
Total	191	165
Mortgages Loan | 0% - 50%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	47	180
Fiscal year before current fiscal year	180	212
Two years before current fiscal year	214	128
Three years before current fiscal year	122	313
Four years before current fiscal year	323	412
Prior	2,022	1,730
Total	2,908	2,975
Mortgages Loan | 50% - 70%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	520	2,167
Fiscal year before current fiscal year	2,111	1,602
Two years before current fiscal year	1,622	509
Three years before current fiscal year	510	745
Four years before current fiscal year	715	578
Prior	3,503	2,871
Total	8,981	8,472
Mortgages Loan | 70% - 90%
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	141	190
Fiscal year before current fiscal year	243	236
Two years before current fiscal year	236	412
Three years before current fiscal year	412	415
Four years before current fiscal year	414	276
Prior	1,118	989
Total	2,564	2,518
Mortgages Loan | 90% plus
Financing Receivable, before Allowance for Credit Loss [Abstract]
Current fiscal year	0	0
Fiscal year before current fiscal year	0	0
Two years before current fiscal year	0	0
Three years before current fiscal year	0	35
Four years before current fiscal year	35	5
Prior	0	73
Total	$ 35	$ 113

INVESTMENTS - Equity Securities

INVESTMENTS - Equity Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ (39)	$ 17
Net investment gains (losses) recognized on securities sold during the period	(11)	(6)
Unrealized and realized gains (losses) on equity securities	$ (50)	$ 11

INVESTMENTS - Trading Securitie

INVESTMENTS - Trading Securities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net investment gains (losses) recognized during the period on securities held at the end of the period	$ (16)	$ (49)
Net investment gains (losses) recognized on securities sold during the period	0	22
Unrealized and realized gains (losses) on trading securities	(16)	(27)
Interest and dividend income from trading securities	2	36
Net investment income (loss) from trading securities	$ (14)	$ 9

DERIVATIVES - Derivatives by Ca

DERIVATIVES - Derivatives by Category (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Notional Amount	$ 2,211	$ 1,876
Derivative Assets	11	7
Derivative Liabilities	494	437
Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	74,930	79,394
Derivative Assets	11,079	12,303
Derivative Liabilities	10,231	11,261
Currency Swaps | Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Notional Amount	1,256	921
Derivative Assets	11	7
Derivative Liabilities	55	42
Currency Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	566	541
Derivative Assets	6	1
Derivative Liabilities	0	0
Swaps | Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Notional Amount	955	955
Derivative Assets	0	0
Derivative Liabilities	439	395
Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	1,876	1,876
Derivative Assets	5	0
Derivative Liabilities	115	45
Futures | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	3,831	2,213
Derivative Assets	0	0
Derivative Liabilities	0	0
Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	12,350	13,310
Derivative Assets	5	5
Derivative Liabilities	3	0
Options | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	44,305	48,380
Derivative Assets	10,685	12,015
Derivative Liabilities	4,369	5,059
Futures | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	11,395	12,455
Derivative Assets	0	0
Derivative Liabilities	0	0
Swaptions | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	0	0
Credit default swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	607	619
Derivative Assets	1	2
Derivative Liabilities	3	3
Currency forwards | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	0	0
Margin | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	160	102
Derivative Liabilities	0	0
Collateral | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	217	178
Derivative Liabilities	5,741	6,154
Amount Due from Reinsurers
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	5,056	5,813
Derivative Liabilities	0	0
GMIB reinsurance contracts
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	1,742	2,068
Derivative Liabilities	0	0
GMxB derivative features liability
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	6,924	8,525
SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	0	0
Derivative Liabilities	6,018	6,641
Embedded derivatives
Derivatives, Fair Value [Line Items]
Notional Amount	0	0
Derivative Assets	6,798	7,881
Derivative Liabilities	12,942	15,166
Derivative instruments including embedded derivative
Derivatives, Fair Value [Line Items]
Notional Amount	77,141	81,270
Derivative Assets	17,888	20,191
Derivative Liabilities	$ 23,667	$ 26,864

DERIVATIVES - Financial Stateme

DERIVATIVES - Financial Statement Impact of Derivatives By Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	$ 745	$ (2,778)
Interest credited to policyholder's account balances	(292)	(270)
Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(18)	(4)
Interest credited to policyholder's account balances	(18)	0
AOCI	(7)	(6)
Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(146)	(4,278)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Currency Swaps | Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(4)	0
Interest credited to policyholder's account balances	(18)	0
AOCI	13	0
Currency Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	5	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Swaps | Designated for hedge accounting | Cash flow hedge
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(14)	(4)
Interest credited to policyholder's account balances	0	0
AOCI	(20)	(6)
Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(149)	(2,912)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Futures | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	59	(293)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	726	(1,270)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Options | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(287)	1,143
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Futures | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(500)	(947)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Swaptions | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Credit default swaps | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	1
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Currency forwards | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Margin | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Collateral | Not designated for hedge accounting
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	0	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Amount Due from Reinsurers
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(767)	0
Interest credited to policyholder's account balances	0	0
AOCI	0	0
GMIB reinsurance contracts
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	(320)	(724)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
GMxB derivative features liability
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	1,688	3,357
Interest credited to policyholder's account balances	0	0
AOCI	0	0
SCS, SIO, MSO and IUL indexed features
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	311	(1,126)
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Embedded derivatives
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	912	1,507
Interest credited to policyholder's account balances	0	0
AOCI	0	0
Derivative instruments including embedded derivative
Derivatives, Fair Value [Line Items]
Net derivative gains (losses)	748	(2,775)
Interest credited to policyholder's account balances	(18)	0
AOCI	(7)	(6)
Investment fees	$ 3	$ 3

DERIVATIVES - Rollforward for C

DERIVATIVES - Rollforward for Cash Flows Hedges in AOCI (Details) - Cash flow hedges recognized in AOCI - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance, beginning of period	$ (208)	$ (126)
Amount recorded in AOCI	(42)	(22)
Amount reclassified from AOCI to income	35	16
Ending Balance, December 31	(215)	(132)
Currency Swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(3)	0
Amount reclassified from AOCI to income	16	0
Interest Swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount recorded in AOCI	(39)	(22)
Amount reclassified from AOCI to income	$ 19	$ 16

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Cash and securities collateral for derivative contract	$ 5,700	$ 6,200
Cash and securities collateral	217	178
S&P 500, Russell 1000, NASDAQ 100 and Emerging Market Indices
Derivative [Line Items]
Initial margin requirements	180	90
Us Treasury Notes Ultra Long Bonds And Euro Dollar
Derivative [Line Items]
Initial margin requirements	180	196
Euro Stoxx, FTSE100, Topix, ASX200 and EAFE Indices
Derivative [Line Items]
Initial margin requirements	$ 16	$ 16

DERIVATIVES - Offsetting of Fin

DERIVATIVES - Offsetting of Financial Assets and Liabilities and Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Derivative
Assets
Gross Amount Recognized	$ 11,091	$ 12,309
Gross Amount Offset in the Balance Sheets	10,582	10,724
Net Amount Presented in the Balance Sheets	509	1,585
Gross Amount not Offset in the Balance Sheets	0	(961)
Net Amount	509	624
Liabilities
Gross Amount Recognized	10,725	10,738
Gross Amount Offset in the Balance Sheets	10,582	10,724
Net Amount Presented in the Balance Sheets	143	14
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	143	14
Other financial assets
Assets
Gross Amount Recognized	1,252	1,325
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	1,252	1,325
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	1,252	1,325
Other invested assets
Assets
Gross Amount Recognized	12,343	13,634
Gross Amount Offset in the Balance Sheets	10,582	10,724
Net Amount Presented in the Balance Sheets	1,761	2,910
Gross Amount not Offset in the Balance Sheets	0	(961)
Net Amount	1,761	1,949
Other financial liabilities
Liabilities
Gross Amount Recognized	2,230	2,064
Gross Amount Offset in the Balance Sheets	0	0
Net Amount Presented in the Balance Sheets	2,230	2,064
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	2,230	2,064
Other liabilities
Liabilities
Gross Amount Recognized	12,955	12,802
Gross Amount Offset in the Balance Sheets	10,582	10,724
Net Amount Presented in the Balance Sheets	2,373	2,078
Gross Amount not Offset in the Balance Sheets	0	0
Net Amount	$ 2,373	$ 2,078

CLOSED BLOCK - Summarized Finan

CLOSED BLOCK - Summarized Financial Information for Closed Block (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Closed Block Liabilities:
Future policy benefits, policyholders’ account balances and other	$ 5,866	$ 5,928
Policyholder dividend obligation	0	0	$ 28	$ 160
Other liabilities	8	39
Total Closed Block liabilities	5,874	5,967
Assets Designated to the Closed Block:
Fixed maturities AFS, at fair value (amortized cost of $3,198 and $3,185) (allowance for credit losses of $0 and $0)	3,200	3,390
Mortgage loans on real estate (net of allowance for credit losses of $3 and $4)	1,693	1,771
Policy loans	595	602
Cash and other invested assets	110	63
Other assets	49	90
Total assets designated to the Closed Block	5,647	5,916
Excess of Closed Block liabilities over assets designated to the Closed Block	227	51
Amounts included in AOCI:
Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $0 and $(43)	12	172
Maximum future earnings to be recognized from Closed Block assets and liabilities	239	223
Fixed maturities, available for sale, amortized cost	3,198	3,185
Fixed maturities available-for-sale, allowance for credit losses	0	0
Mortgage loans, credit losses	3	4
Policyholder dividend obligation	0	0	$ 28	$ 160
Closed block operations, income taxes	$ 0	$ (43)

CLOSED BLOCK - Revenues and Exp

CLOSED BLOCK - Revenues and Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Premiums and other income	$ 33	$ 39
Net investment income (loss)	58	60
Investment gains (losses), net	1	0
Total revenues	92	99
Benefits and Other Deductions:
Policyholders’ benefits and dividends	76	106
Other operating costs and expenses	0	1
Total benefits and other deductions	76	107
Net income (loss), before income taxes	16	(8)
Income tax (expense) benefit	1	(1)
Net income (loss)	$ 17	$ (9)

CLOSED BLOCK - Reconciliation o

CLOSED BLOCK - Reconciliation of Policyholder Dividend Obligation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Movement in Closed Block Dividend Obligation [Roll Forward]
Beginning balance	$ 0	$ 160
Unrealized investment gains (losses)	0	(132)
Ending balance	$ 0	$ 28

INSURANCE LIABILITIES - Rollfor

INSURANCE LIABILITIES - Rollforward of Liability and Reinsurance Ceded (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
GMDB Direct
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross
Balance, beginning of period	$ 5,011	$ 5,093
Paid guarantee benefits	(133)	(133)
Other changes in reserve	223	123
Balance, end of period	5,101	5,083
GMDB Ceded
Guaranteed Minimum Death Benefit Reinsurance Ceded [Roll Forward]
Balance, beginning of period	(2,237)	(84)
Paid guarantee benefits	56	4
Other changes in reserve	(93)	(1)
Balance, end of period	(2,274)	(81)
GMIB Direct
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross
Balance, beginning of period	5,952	6,025
Paid guarantee benefits	(121)	(91)
Other changes in reserve	250	32
Balance, end of period	6,081	5,966
GMIB Ceded
Guaranteed Minimum Death Benefit Reinsurance Ceded [Roll Forward]
Balance, beginning of period	(4,207)	(2,859)
Paid guarantee benefits	16	13
Other changes in reserve	263	713
Balance, end of period	$ (3,928)	$ (2,133)

INSURANCE LIABILITIES - Variabl

INSURANCE LIABILITIES - Variable Annuity Contracts with GMDB and GMIB Features (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
GMDB Ceded
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 16,687
Separate Accounts	98,813	$ 107,305
Total Account Values	115,500
NAR, gross	20,055
NAR, net of amounts reinsured	$ 10,871
Percentage of policyholders over age 70	20.80%
GMDB Ceded | Return of Premium
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 16,395
Separate Accounts	55,292
Total Account Values	71,687
NAR, gross	167
NAR, net of amounts reinsured	$ 162
Percentage of policyholders over age 70	11.80%
GMDB Ceded | Ratchet
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 86
Separate Accounts	8,977
Total Account Values	9,063
NAR, gross	323
NAR, net of amounts reinsured	$ 289
Percentage of policyholders over age 70	52.00%
GMDB Ceded | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 50
Separate Accounts	3,107
Total Account Values	3,157
NAR, gross	1,486
NAR, net of amounts reinsured	$ 1,057
Percentage of policyholders over age 70	73.10%
GMDB Ceded | Combo
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 156
Separate Accounts	31,437
Total Account Values	31,593
NAR, gross	18,079
NAR, net of amounts reinsured	$ 9,363
Percentage of policyholders over age 70	57.90%
GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
Separate Accounts	$ 57,681	$ 63,006
Immediate Variable Annuity | GMDB Ceded
Net Amount at Risk by Product and Guarantee [Line Items]
Average attained age of policyholders (in years)	55 years 7 months 6 days
Immediate Variable Annuity | GMDB Ceded | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMDB Ceded | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Immediate Variable Annuity | GMDB Ceded | Return of Premium
Net Amount at Risk by Product and Guarantee [Line Items]
Average attained age of policyholders (in years)	51 years 6 months
Immediate Variable Annuity | GMDB Ceded | Ratchet
Net Amount at Risk by Product and Guarantee [Line Items]
Average attained age of policyholders (in years)	69 years 3 months 18 days
Immediate Variable Annuity | GMDB Ceded | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
Average attained age of policyholders (in years)	75 years 7 months 6 days
Immediate Variable Annuity | GMDB Ceded | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMDB Ceded | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%
Immediate Variable Annuity | GMDB Ceded | Combo
Net Amount at Risk by Product and Guarantee [Line Items]
Average attained age of policyholders (in years)	71 years 3 months 18 days
Immediate Variable Annuity | GMDB Ceded | Combo | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMDB Ceded | Combo | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Immediate Variable Annuity | GMIB
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 216
Separate Accounts	57,681
Total Account Values	57,897
NAR, gross	9,259
NAR, net of amounts reinsured	$ 3,727
Average attained age of policyholders (in years)	68 years 9 months 18 days
Weighted average years remaining until annuitization (in years)	2 years 7 months 6 days
Immediate Variable Annuity | GMIB | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMIB | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%
Immediate Variable Annuity | GMIB | Return of Premium
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 0
Separate Accounts	0
Total Account Values	0
NAR, gross	0
NAR, net of amounts reinsured	0
Immediate Variable Annuity | GMIB | Ratchet
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	0
Separate Accounts	0
Total Account Values	0
NAR, gross	0
NAR, net of amounts reinsured	0
Immediate Variable Annuity | GMIB | Roll-Up
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	15
Separate Accounts	24,220
Total Account Values	24,235
NAR, gross	586
NAR, net of amounts reinsured	$ 188
Average attained age of policyholders (in years)	65 years 2 months 12 days
Weighted average years remaining until annuitization (in years)	5 years 10 months 24 days
Immediate Variable Annuity | GMIB | Roll-Up | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMIB | Roll-Up | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.00%
Immediate Variable Annuity | GMIB | Combo
Net Amount at Risk by Product and Guarantee [Line Items]
General Account	$ 201
Separate Accounts	33,461
Total Account Values	33,662
NAR, gross	8,673
NAR, net of amounts reinsured	$ 3,539
Average attained age of policyholders (in years)	71 years
Weighted average years remaining until annuitization (in years)	7 months 6 days
Immediate Variable Annuity | GMIB | Combo | Minimum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	3.00%
Immediate Variable Annuity | GMIB | Combo | Maximum
Net Amount at Risk by Product and Guarantee [Line Items]
Range of contractually specified interest rates (as a percent)	6.50%

INSURANCE LIABILITIES - Separat

INSURANCE LIABILITIES - Separate Account Investments, Hedging Programs and Variable and Interest-Sensitive Live Insurance Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Direct Liability
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross
Balance, beginning of period	$ 1,090	$ 1,016
Paid guaranteed benefits	(8)	(15)
Other changes in reserve	24	44
Balance, end of period	1,106	1,045
Reinsurance Ceded
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross
Balance, beginning of period	(928)	(883)
Paid guaranteed benefits	0	0
Other changes in reserve	(1)	(18)
Balance, end of period	(929)	(901)
Net
Movement in Liabilities for Guarantees on Long-Duration Contracts, Guaranteed Benefit Liability, Gross
Balance, beginning of period	162	133
Paid guaranteed benefits	(8)	(15)
Other changes in reserve	23	26
Balance, end of period	177	$ 144
GMDB
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	98,813		$ 107,305
GMDB | Equity
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	48,377		52,744
GMDB | Fixed income
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	5,086		5,384
GMDB | Balanced
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	44,287		48,152
GMDB | Other
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	1,063		1,025
GMIB
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	57,681		63,006
GMIB | Equity
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	18,106		20,009
GMIB | Fixed income
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	2,330		2,505
GMIB | Balanced
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	36,984		40,228
GMIB | Other
Fair Value, Separate Account Investment [Line Items]
Separate Accounts	$ 261		$ 264

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedules Of Assets And Liabilities Measured On Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets:
Fixed maturities available for sale, at fair value	$ 67,578	$ 73,076
Recurring
Assets:
Fixed maturities available for sale, at fair value	67,578	73,076
Other equity investments	665	682
Trading securities	383	379
Other invested assets:	5,735	6,494
Cash equivalents	2,060	1,382
Amounts due from reinsurer	5,056	5,813
GMIB reinsurance contracts asset	1,742	2,068
Separate Accounts assets	132,808	143,306
Total Assets	216,027	233,200
Liabilities:
Total Liabilities	12,942	15,166
Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Other equity investments	219	243
Trading securities	203	193
Other invested assets:	0	0
Cash equivalents	1,266	1,109
Amounts due from reinsurer	0	0
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	129,928	140,740
Total Assets	131,616	142,285
Liabilities:
Total Liabilities	0	0
Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	65,304	71,520
Other equity investments	440	434
Trading securities	180	186
Other invested assets:	5,730	6,486
Cash equivalents	794	273
Amounts due from reinsurer	0	0
GMIB reinsurance contracts asset	0	0
Separate Accounts assets	2,880	2,565
Total Assets	75,328	81,464
Liabilities:
Total Liabilities	6,018	6,641
Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	2,274	1,556
Other equity investments	6	5
Trading securities	0	0
Other invested assets:	5	8
Cash equivalents	0	0
Amounts due from reinsurer	5,056	5,813
GMIB reinsurance contracts asset	1,742	2,068
Separate Accounts assets	0	1
Total Assets	9,083	9,451
Liabilities:
Total Liabilities	6,924	8,525
Recurring | NAV
Assets:
Separate Accounts assets	414	404
Corporate | Recurring
Assets:
Fixed maturities available for sale, at fair value	45,703	47,724
Corporate | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Corporate | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	44,031	46,231
Corporate | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	1,672	1,493
U.S. Treasury, government and agency
Assets:
Fixed maturities available for sale, at fair value	9,202	15,214
U.S. Treasury, government and agency | Recurring
Assets:
Fixed maturities available for sale, at fair value	9,202	15,214
U.S. Treasury, government and agency | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
U.S. Treasury, government and agency | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	9,202	15,214
U.S. Treasury, government and agency | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	0	0
States and political subdivisions
Assets:
Fixed maturities available for sale, at fair value	623	597
States and political subdivisions | Recurring
Assets:
Fixed maturities available for sale, at fair value	623	597
States and political subdivisions | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
States and political subdivisions | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	591	562
States and political subdivisions | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	32	35
Foreign governments
Assets:
Fixed maturities available for sale, at fair value	1,083	1,152
Foreign governments | Recurring
Assets:
Fixed maturities available for sale, at fair value	1,083	1,152
Foreign governments | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Foreign governments | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	1,083	1,152
Foreign governments | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	0	0
Residential mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	81	90
Residential mortgage-backed | Recurring
Assets:
Fixed maturities available for sale, at fair value	81	90
Residential mortgage-backed | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Residential mortgage-backed | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	81	90
Residential mortgage-backed | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	0	0
Asset-backed
Assets:
Fixed maturities available for sale, at fair value	7,395	5,905
Asset-backed | Recurring
Assets:
Fixed maturities available for sale, at fair value	7,395	5,905
Asset-backed | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Asset-backed | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	7,063	5,897
Asset-backed | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	332	8
Commercial mortgage-backed
Assets:
Fixed maturities available for sale, at fair value	3,443	2,341
Commercial mortgage-backed | Recurring
Assets:
Fixed maturities available for sale, at fair value	3,443	2,341
Commercial mortgage-backed | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Commercial mortgage-backed | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	3,205	2,321
Commercial mortgage-backed | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	238	20
Redeemable preferred stock
Assets:
Fixed maturities available for sale, at fair value	48	53
Redeemable preferred stock | Recurring
Assets:
Fixed maturities available for sale, at fair value	48	53
Redeemable preferred stock | Recurring | Level 1
Assets:
Fixed maturities available for sale, at fair value	0	0
Redeemable preferred stock | Recurring | Level 2
Assets:
Fixed maturities available for sale, at fair value	48	53
Redeemable preferred stock | Recurring | Level 3
Assets:
Fixed maturities available for sale, at fair value	0	0
Short-term investments | Recurring
Assets:
Other invested assets:	0	0
Short-term investments | Recurring | Level 1
Assets:
Other invested assets:	0	0
Short-term investments | Recurring | Level 2
Assets:
Other invested assets:	0	0
Short-term investments | Recurring | Level 3
Assets:
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Recurring
Assets:
Other invested assets:	5	8
Assets of consolidated VIEs/VOEs | Recurring | Level 1
Assets:
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Recurring | Level 2
Assets:
Other invested assets:	0	0
Assets of consolidated VIEs/VOEs | Recurring | Level 3
Assets:
Other invested assets:	5	8
Swaps | Recurring
Assets:
Other invested assets:	(584)	(469)
Swaps | Recurring | Level 1
Assets:
Other invested assets:	0	0
Swaps | Recurring | Level 2
Assets:
Other invested assets:	(584)	(469)
Swaps | Recurring | Level 3
Assets:
Other invested assets:	0	0
Credit default swaps | Recurring
Assets:
Other invested assets:	(2)	(1)
Credit default swaps | Recurring | Level 1
Assets:
Other invested assets:	0	0
Credit default swaps | Recurring | Level 2
Assets:
Other invested assets:	(2)	(1)
Credit default swaps | Recurring | Level 3
Assets:
Other invested assets:	0	0
Options | Recurring
Assets:
Other invested assets:	6,316	6,956
Options | Recurring | Level 1
Assets:
Other invested assets:	0	0
Options | Recurring | Level 2
Assets:
Other invested assets:	6,316	6,956
Options | Recurring | Level 3
Assets:
Other invested assets:	0	0
GMxB derivative features’ liability | Recurring
Liabilities:
Liabilities	6,924	8,525
GMxB derivative features’ liability | Recurring | Level 1
Liabilities:
Liabilities	0	0
GMxB derivative features’ liability | Recurring | Level 2
Liabilities:
Liabilities	0	0
GMxB derivative features’ liability | Recurring | Level 3
Liabilities:
Liabilities	6,924	8,525
SCS, SIO, MSO and IUL indexed features’ liability | Recurring
Liabilities:
Liabilities	6,018	6,641
SCS, SIO, MSO and IUL indexed features’ liability | Recurring | Level 1
Liabilities:
Liabilities	0	0
SCS, SIO, MSO and IUL indexed features’ liability | Recurring | Level 2
Liabilities:
Liabilities	6,018	6,641
SCS, SIO, MSO and IUL indexed features’ liability | Recurring | Level 3
Liabilities:
Liabilities	$ 0	$ 0

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value adjustments on GMIB asset	$ 166		$ 148
Fair value adjustments on amounts due from reinsurers	215		210
AFS fixed maturities transferred from Level 3 to Level 2	8	$ 549
AFS fixed maturities transferred from Level 2 to Level 3	$ 70	$ 2
AFS fixed maturities transferred between Level 2 and 3 (percentage)	1.40%	8.00%
Level 3 | Nonrecurring
Fair Value Inputs Assets Quantitative Information 1 [Line Items]
Fair value measurements not included in quantitative information about level 3 fair value measurements	$ 1,100		$ 430

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value Measurement Reconciliation For All Levels (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Total gains and (losses), realized and unrealized, included in:
Sales	$ 70	$ 2
Transfers out of Level 3	(8)	(549)
Amounts Due from Reinsurers
Total gains and (losses), realized and unrealized, included in:
Nonperformance risk	(42)	0
GMIB reinsurance contract asset
Total gains and (losses), realized and unrealized, included in:
Nonperformance risk	(45)	(16)
GMxB Derivative Features Liability
Total gains and (losses), realized and unrealized, included in:
Nonperformance risk	483	84
Level 3 | Corporate
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	1,493	1,687
Net investment income (loss)	1	1
Investment gains (losses), net	1	(6)
Total realized and unrealized gains (losses)	2	(5)
Other comprehensive income (loss)	(30)	9
Purchases	231	165
Sales	(86)	(67)
Activity related to consolidated VIEs/VOEs	0	0
Sales	70	2
Transfers out of Level 3	(8)	(549)
Closing Balance	1,672	1,242
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	(28)	9
Level 3 | States and political subdivisions
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	35	39
Net investment income (loss)	0
Investment gains (losses), net	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	(3)	(1)
Purchases	0	0
Sales	0	0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	32	38
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	(2)	(1)
Level 3 | CMBS
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	20	0
Net investment income (loss)	0	0
Investment gains (losses), net	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	(1)	0
Purchases	219	4
Sales	0	0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	238	4
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	(1)	0
Level 3 | Asset-backed
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	8	20
Net investment income (loss)	0	0
Investment gains (losses), net	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	325	50
Sales	(1)	(5)
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	332	65
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Level 3 | Other Equity Investments
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	13	15
Net investment income (loss)	0	0
Investment gains (losses), net	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	0	(1)
Other	0
Change in estimate		0
Activity related to consolidated VIEs/VOEs	(2)	(2)
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	11	12
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Level 3 | Amounts Due from Reinsurers
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	5,815	0
Net investment income (loss)		0
Investment gains (losses), net	(767)	0
Total realized and unrealized gains (losses)	(767)	0
Other comprehensive income (loss)	0	0
Purchases	34	0
Sales	(26)	0
Other	0
Change in estimate		0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	5,056	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	(767)	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Level 3 | GMIB reinsurance contract asset
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	2,068	2,859
Net investment income (loss)	0	0
Investment gains (losses), net	(320)	(724)
Total realized and unrealized gains (losses)	(320)	(724)
Other comprehensive income (loss)	0	0
Purchases	10	12
Sales	(16)	(14)
Other	0
Change in estimate		0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	1,742	2,133
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	(320)	(724)
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Level 3 | Separate Accounts Assets
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	1	1
Net investment income (loss)	0	0
Investment gains (losses), net	0	0
Total realized and unrealized gains (losses)	0	0
Other comprehensive income (loss)	0	0
Purchases	0	0
Sales	(1)	0
Other	0
Change in estimate		0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	(1)
Closing Balance	0	0
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	0	0
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	0	0
Level 3 | GMxB Derivative Features Liability
Total gains and (losses), realized and unrealized, included in:
Beginning Balance	(8,525)	(10,936)
Net investment income (loss)	0	0
Investment gains (losses), net	1,688	3,357
Total realized and unrealized gains (losses)	1,688	3,357
Other comprehensive income (loss)	0	0
Purchases	(118)	(117)
Sales	31	15
Other	0
Change in estimate		0
Activity related to consolidated VIEs/VOEs	0	0
Sales	0	0
Transfers out of Level 3	0	0
Closing Balance	(6,924)	(7,681)
Change in unrealized gains or losses for the period included in earnings for instruments held at the end of the reporting period	1,688	3,357
Change in unrealized gains or losses for the period included in other comprehensive income for instruments held at the end of the reporting period	$ 0	$ 0

FAIR VALUE DISCLOSURES - Quanti

FAIR VALUE DISCLOSURES - Quantitative Information About Level 3 (Details) - Level 3 $ in Millions	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Corporate | Matrix pricing model
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 325	$ 248
Corporate | Market comparable companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 891	$ 888
Corporate | Spread over benchmark | Matrix pricing model | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0020	0.0020
Corporate | Spread over benchmark | Matrix pricing model | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0299	0.0270
Corporate | Spread over benchmark | Matrix pricing model | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0105	0.0146
Corporate | EBITDA multiple | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	5	4.9
Corporate | EBITDA multiple | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	77.6	62.3
Corporate | EBITDA multiple | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	13.9	13
Corporate | Discount rate | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.072	0.00062
Corporate | Discount rate | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.336	0.00215
Corporate | Discount rate | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.098	0.00091
Corporate | Cash flow multiples | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.5	0.5
Corporate | Cash flow multiples | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	11.6	10
Corporate | Cash flow multiples | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	6.4	5.5
Corporate | Loan to value | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0	0.031
Corporate | Loan to value | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.621	0.634
Corporate | Loan to value | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.300	0.308
Other equity investments | Market comparable companies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 4	$ 4
Other equity investments | Revenue multiple | Market comparable companies | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	7.7	7.8
Other equity investments | Revenue multiple | Market comparable companies | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	9.5	10.3
Other equity investments | Revenue multiple | Market comparable companies | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	9.2	9.5
GMIB reinsurance contract asset | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 1,742	$ 2,068
GMIB reinsurance contract asset | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0045	0.000045
GMIB reinsurance contract asset | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2086	0.2086
GMIB reinsurance contract asset | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0278	0.00000265
GMIB reinsurance contract asset | Withdrawal rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0027	0.000027
GMIB reinsurance contract asset | Withdrawal rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0866	0.0866
GMIB reinsurance contract asset | Withdrawal rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0091	0.0000
GMIB reinsurance contract asset | Utilization rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0004	0.000004
GMIB reinsurance contract asset | Utilization rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.006044	0.6044
GMIB reinsurance contract asset | Utilization rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0528	0.00000527
GMIB reinsurance contract asset | Non-performance risk | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0082	0.0057
GMIB reinsurance contract asset | Non-performance risk | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0130	0.0093
GMIB reinsurance contract asset | Non-performance risk | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0084	0.0060
GMIB reinsurance contract asset | Volatility rates - Equity | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09	0.11
GMIB reinsurance contract asset | Volatility rates - Equity | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.32	0.31
GMIB reinsurance contract asset | Volatility rates - Equity | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.000024	0.24
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Minimum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0001	0.00
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Minimum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0006	0.00
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Minimum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0031	0.0000
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Maximum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0017	0.0000
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Maximum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0053	0.0000
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Maximum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.4000	0.00004000
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Weighted Average | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285	0.00000279
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Weighted Average | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285	0.00000279
GMIB reinsurance contract asset | Mortality rates | Discounted cash flow | Weighted Average | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0285	0.00000279
Amount Due from Reinsurers | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 5,056	$ 5,813
Amount Due from Reinsurers | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0045	0.0045
Amount Due from Reinsurers | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2086	0.2086
Amount Due from Reinsurers | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0179	0.0170
Amount Due from Reinsurers | Withdrawal rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0027	0.0027
Amount Due from Reinsurers | Withdrawal rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0866	0.0866
Amount Due from Reinsurers | Withdrawal rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0115	0.0118
Amount Due from Reinsurers | Utilization rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0004	0.0004
Amount Due from Reinsurers | Utilization rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.6044	0.6044
Amount Due from Reinsurers | Utilization rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0740	0.0720
Amount Due from Reinsurers | Non-performance risk | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0048	0.0037
Amount Due from Reinsurers | Non-performance risk | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0048	0.0037
Amount Due from Reinsurers | Volatility rates - Equity | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09	0.11
Amount Due from Reinsurers | Volatility rates - Equity | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.32	0.31
Amount Due from Reinsurers | Volatility rates - Equity | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.24	0.24
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Minimum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0001	0.00
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Minimum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0006	0.00
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Minimum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0031	0.0000
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Maximum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0017	0.0000
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Maximum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0053	0.0000
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Maximum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.4000	0.00004000
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Weighted Average | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0217	0.00000217
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Weighted Average | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0217	0.00000217
Amount Due from Reinsurers | Mortality rates | Discounted cash flow | Weighted Average | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0217	0.00000217
GMIB NLG | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 6,936	$ 8,503
GMIB NLG | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0104	0.000104
GMIB NLG | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2357	0.002357
GMIB NLG | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0369	0.00000355
GMIB NLG | Withdrawal rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0027	0.000027
GMIB NLG | Withdrawal rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0866	0.0866
GMIB NLG | Withdrawal rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0103	0.00000104
GMIB NLG | Non-performance risk | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0151	0.0111
GMIB NLG | Non-performance risk | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0151	0.0111
GMIB NLG | Mortality rates | Discounted cash flow | Minimum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0001	0.00
GMIB NLG | Mortality rates | Discounted cash flow | Minimum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0007	0.00
GMIB NLG | Mortality rates | Discounted cash flow | Minimum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0044	0.0000
GMIB NLG | Mortality rates | Discounted cash flow | Maximum | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0019	0.0000
GMIB NLG | Mortality rates | Discounted cash flow | Maximum | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0057	0.0000
GMIB NLG | Mortality rates | Discounted cash flow | Maximum | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.4360	0.00004360
GMIB NLG | Mortality rates | Discounted cash flow | Weighted Average | Age 0-40
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0162	0.00000162
GMIB NLG | Mortality rates | Discounted cash flow | Weighted Average | Age 41-60
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0162	0.00000162
GMIB NLG | Mortality rates | Discounted cash flow | Weighted Average | Ages 61 - 115
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0162	0.00000162
GMIB NLG | Annuitization rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0003	0.000003
GMIB NLG | Annuitization rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	1	1
GMIB NLG | Annuitization rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0537	0.00000524
GWBL/GMWB | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 83	$ 99
GWBL/GMWB | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0060	0.0000
GWBL/GMWB | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2086	0.2086
GWBL/GMWB | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0278	0.00000265
GWBL/GMWB | Withdrawal rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0	0
GWBL/GMWB | Withdrawal rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0800	0.0800
GWBL/GMWB | Withdrawal rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0091	0.0000
GWBL/GMWB | Utilization rate | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	1	1
GWBL/GMWB | Non-performance risk | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0151	0.0111
GWBL/GMWB | Volatility rates - Equity | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09	0.11
GWBL/GMWB | Volatility rates - Equity | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.32	0.31
GWBL/GMWB | Volatility rates - Equity | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.24	0.24
GIB | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ (93)	$ (75)
GIB | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0060	0.000060
GIB | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2086	0.000000
GIB | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0278	0.000265
GIB | Withdrawal rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0013	0.000013
GIB | Withdrawal rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0866	0.0866
GIB | Withdrawal rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0091	0.000093
GIB | Utilization rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0004	0.000004
GIB | Utilization rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	1	1
GIB | Utilization rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0528	0.000527
GIB | Non-performance risk | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0151
GIB | Volatility rates - Equity | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09	0.11
GIB | Volatility rates - Equity | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.32	0.31
GIB | Volatility rates - Equity | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.24	0.24
GMAB | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ (3)	$ (3)
GMAB | Lapse rate | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0060	0.000060
GMAB | Lapse rate | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.2086	0.2086
GMAB | Lapse rate | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0278	0.000265
GMAB | Non-performance risk | Discounted cash flow
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.0151	0.0111
GMAB | Volatility rates - Equity | Discounted cash flow | Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.09	0.11
GMAB | Volatility rates - Equity | Discounted cash flow | Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.32	0.31
GMAB | Volatility rates - Equity | Discounted cash flow | Weighted Average
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Measurement input	0.24	0.24

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Values And Fair Values Of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Consolidated Amounts [Abstract]
Mortgage loans on real estate	$ 14,435	$ 14,016
Policy loans	3,533	3,540
Policyholders’ liabilities: Investment contracts	75,640	75,467
Separate Accounts liabilities	133,522	143,912
Carrying Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	14,435	14,016
Policy loans	3,533	3,540
Loans to affiliates	1,900	1,900
Policyholders’ liabilities: Investment contracts	1,895	1,916
FHLB funding agreements	6,088	6,647
FABN funding agreements	6,673	6,689
Separate Accounts liabilities	11,785	11,620
Fair Value
Consolidated Amounts [Abstract]
Mortgage loans on real estate	13,894	14,291
Policy loans	4,423	4,512
Loans to affiliates	1,861	1,974
Policyholders’ liabilities: Investment contracts	1,865	1,980
FHLB funding agreements	6,047	6,679
FABN funding agreements	6,271	6,626
Separate Accounts liabilities	11,785	11,620
Fair Value | Level 1
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0
Policy loans	0
Loans to affiliates	0
Policyholders’ liabilities: Investment contracts	0
FHLB funding agreements	0
FABN funding agreements	0
Separate Accounts liabilities	0
Fair Value | Level 2
Consolidated Amounts [Abstract]
Mortgage loans on real estate	0
Policy loans	0
Loans to affiliates	1,861	1,974
Policyholders’ liabilities: Investment contracts	0
FHLB funding agreements	6,047	6,679
FABN funding agreements	6,271	6,626
Separate Accounts liabilities	0
Fair Value | Level 3
Consolidated Amounts [Abstract]
Mortgage loans on real estate	13,894	14,291
Policy loans	4,423	4,512
Loans to affiliates	0
Policyholders’ liabilities: Investment contracts	1,865	1,980
FHLB funding agreements	0
FABN funding agreements	0
Separate Accounts liabilities	$ 11,785	$ 11,620

EQUITY - Components of AOCI (De

EQUITY - Components of AOCI (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Unrealized gains (losses) on investments	$ (1,154)	$ 2,362
Defined benefit pension plans	(5)	(5)
Accumulated other comprehensive income (loss) attributable to Equitable Financial	$ (1,159)	$ 2,357

EQUITY - Changes in AOCI (Detai

EQUITY - Changes in AOCI (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Other Comprehensive Income (Loss), Tax [Abstract]
Net unrealized gains (losses) arising during the period		$ (4,795)	$ (3,868)
(Gains) losses reclassified into net income (loss) during the period		261	(164)
Net unrealized gains (losses) on investments		(4,534)	(4,032)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other		1,018	918
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(935) and $828)	[1]	(3,516)	(3,114)
Other comprehensive income (loss), attributable to Equitable Financial		(3,516)	(3,114)
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Deferred income taxes		(935)	828
Unrealized gains (losses) on investments
Other Comprehensive Income (Loss), Tax [Abstract]
Reclassification from AOCI, current period, tax		$ (70)	$ 44
[1]	See Note 10 of the Notes to these Consolidated Financial Statements for details of change in unrealized gains (losses), net of adjustments.

REDEEMABLE NONCONTROLLING INT_3

REDEEMABLE NONCONTROLLING INTEREST - Summary of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance, beginning of period	$ 28	$ 41
Net earnings (loss) attributable to redeemable noncontrolling interests	(1)	0
Purchase/change of redeemable noncontrolling interests	2	7
Balance, end of period	$ 29	$ 48

COMMITMENTS AND CONTINGENT LI_3

COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)legalActionsaleAndDisclosurePractice	May 31, 2021USD ($)	Feb. 29, 2016USD ($)
Loss Contingencies [Line Items]
Unaccrued amounts of reasonably possible range of losses	$ 250
Number of sales and disclosure practices under investigation | saleAndDisclosurePractice	457
Federal home loan bank stock	$ 286
Carrying value of collateral pledged for federal home loan bank	9,900
Commitments by the Company to provide equity financing	1,300
Commitments under existing mortgage loan agreements	914
Letter of Credit
Loss Contingencies [Line Items]
Undrawn balance	$ 17
Trust Notes
Loss Contingencies [Line Items]
Line of credit facility, maximum borrowing capacity		$ 10,000
Equitable Financial | New York
Loss Contingencies [Line Items]
Number of actions | legalAction	2
Brach Family Foundation Litigation
Loss Contingencies [Line Items]
Liability for future policy benefits, face value of policy			$ 1
Sales and Disclosure Practices
Loss Contingencies [Line Items]
Civil monetary penalty	$ 50

COMMITMENTS AND CONTINGENT LI_4

COMMITMENTS AND CONTINGENT LIABILITIES - Funding Agreements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	$ 6,643
Issued During the Period	13,876
Repaid During the Period	14,435
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	6,084
Difference related to remaining amortization	4	$ 4
Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	6,719
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	(16)
Outstanding Balance, period end	6,703
Difference related to remaining amortization	31	$ 70
Due in one year or less | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	5,353
Issued During the Period	13,688
Repaid During the Period	14,435
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	4,606
Due in one year or less | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	0
Outstanding Balance, period end	0
Due in years two through five | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,290
Issued During the Period	13
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	1,303
Due in years two through five | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	4,600
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	0
Outstanding Balance, period end	4,600
Due in more than five years | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	0
Issued During the Period	175
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	175
Due in more than five years | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	2,119
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	(16)
Outstanding Balance, period end	2,103
Long-term funding agreements | Federal Home Loan Bank (FHLB)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	1,290
Issued During the Period	188
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Outstanding Balance, period end	1,478
Long-term funding agreements | Funding Agreement-Backed Notes Program (FABN)
Restructuring Reserve [Roll Forward]
Outstanding Balance, period start	6,719
Issued During the Period	0
Repaid During the Period	0
Long-term Agreements Maturing Within One Year	0
Long-term Agreements Maturing Within Five Years	0
Foreign Currency Transaction Adjustment	(16)
Outstanding Balance, period end	$ 6,703

INSURANCE GROUP STATUTORY FIN_2

INSURANCE GROUP STATUTORY FINANCIAL INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)prescribedAndPermittedPractice	Jun. 30, 2021USD ($)
Related Party Transaction [Line Items]
Number of prescribed and permitted practices | prescribedAndPermittedPractice	3
Statement of Statutory Accounting Principles 108
Related Party Transaction [Line Items]
Statutory accounting practices, statutory surplus, increase	$ 1,000,000,000
Statutory accounting practices, statutory net income, decrease	$ 373,000,000
Statutory accounting practices, hedging losses amortization period	5 years
Statutory accounting practices, statutory unassigned surplus, balance		$ 0
Regulation Number 213
Related Party Transaction [Line Items]
Statutory accounting practices, statutory surplus, increase (decrease) to new standard application	$ (1,800,000,000)
Statutory accounting practices, statutory net income, increase (decrease) to new standard application	541,000,000
Regulation Number 213 with Seperate Accounts
Related Party Transaction [Line Items]
Statutory accounting practices, statutory surplus, increase (decrease) to new standard application	827,000,000
Statutory accounting practices, statutory net income, increase (decrease) to new standard application	$ 0