Insurance Liabilities - Balances of changes in liability for future policy benefits (Details) - USD ($) $ in Millions |
12 Months Ended |
|
|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Jan. 01, 2021 |
Dec. 31, 2020 |
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 14,574
|
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(2,200)
|
|
|
|
|
| Beginning balance at original discount rate |
16,774
|
|
|
|
|
| Effect of changes in cash flow assumptions |
|
$ 53
|
|
|
|
| Effect of actual variances from expected experience |
|
66
|
|
|
|
| Adjusted beginning of year balance |
16,893
|
|
|
|
|
| Issuances |
1,399
|
|
|
|
|
| Interest accrual |
526
|
|
|
|
|
| Net premium collected |
(1,865)
|
|
|
|
|
| Foreign exchange impact |
251
|
|
|
|
|
| Other |
2
|
|
|
|
|
| Ending balance at original discount rate |
17,206
|
16,774
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,865)
|
(2,200)
|
|
|
|
| Reclassified to Liabilities held for sale |
(4,287)
|
|
|
|
|
| Balance, end of period |
11,054
|
14,574
|
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
57,886
|
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(7,672)
|
|
|
|
|
| Beginning balance at original discount rate |
65,558
|
|
|
|
|
| Adjustments |
|
125
|
|
|
|
| Effect of actual variances from expected experience |
|
112
|
|
|
|
| Adjusted beginning of year balance |
65,795
|
|
|
|
|
| Issuances |
6,930
|
|
|
|
|
| Interest accrual |
2,716
|
|
|
|
|
| Benefit payments |
(4,941)
|
|
|
|
|
| Foreign exchange impact |
677
|
|
|
|
|
| Other |
(14)
|
|
|
|
|
| Ending balance at original discount rate |
71,163
|
65,558
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(5,658)
|
(7,672)
|
|
|
|
| Reclassified to Liabilities held for sale |
(5,119)
|
|
|
|
|
| Ending balance |
60,386
|
57,886
|
|
|
|
| Net liability for future policy benefits, end of period |
49,332
|
|
|
|
|
| Liability for future policy benefits for certain participating contracts |
1,313
|
|
|
|
|
| Liability for universal life policies with secondary guarantees and similar features |
3,786
|
|
|
|
|
| Deferred profit liability |
2,512
|
|
|
|
|
| Other reconciling items |
1,633
|
|
|
|
|
| Future policy benefits for life and accident and health insurance contracts |
58,576
|
51,914
|
|
$ 67,364
|
|
| Less: Reinsurance recoverable: |
(23,571)
|
|
|
|
|
| Net liability for future policy benefits after reinsurance recoverable |
35,005
|
|
|
|
|
| General Insurance |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
1,929
|
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(262)
|
|
|
|
|
| Beginning balance at original discount rate |
2,191
|
|
|
|
|
| Effect of changes in cash flow assumptions |
|
(2)
|
|
|
|
| Effect of actual variances from expected experience |
|
(16)
|
|
|
|
| Adjusted beginning of year balance |
2,173
|
|
|
|
|
| Issuances |
122
|
|
|
|
|
| Interest accrual |
43
|
|
|
|
|
| Net premium collected |
(283)
|
|
|
|
|
| Foreign exchange impact |
(14)
|
|
|
|
|
| Other |
0
|
|
|
|
|
| Ending balance at original discount rate |
2,041
|
2,191
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(339)
|
(262)
|
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Balance, end of period |
1,702
|
1,929
|
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
2,380
|
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(362)
|
|
|
|
|
| Beginning balance at original discount rate |
2,742
|
|
|
|
|
| Adjustments |
|
(13)
|
|
|
|
| Effect of actual variances from expected experience |
|
(18)
|
|
|
|
| Adjusted beginning of year balance |
2,711
|
|
|
|
|
| Issuances |
130
|
|
|
|
|
| Interest accrual |
52
|
|
|
|
|
| Benefit payments |
(276)
|
|
|
|
|
| Foreign exchange impact |
(27)
|
|
|
|
|
| Other |
0
|
|
|
|
|
| Ending balance at original discount rate |
2,590
|
2,742
|
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(441)
|
(362)
|
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Ending balance |
2,149
|
2,380
|
|
|
|
| Net liability for future policy benefits, end of period |
$ 447
|
|
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
9 years 3 months 18 days
|
|
|
|
|
| Life and Retirement |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 12,645
|
15,643
|
$ 15,299
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,938)
|
856
|
1,623
|
|
|
| Beginning balance at original discount rate |
14,583
|
14,787
|
13,676
|
|
|
| Effect of changes in cash flow assumptions |
|
|
123
|
|
$ 92
|
| Effect of actual variances from expected experience |
|
|
(72)
|
|
385
|
| Adjusted beginning of year balance |
|
14,838
|
14,153
|
|
|
| Issuances |
|
1,358
|
1,727
|
|
|
| Interest accrual |
|
445
|
446
|
|
|
| Net premium collected |
|
(1,541)
|
(1,493)
|
|
|
| Foreign exchange impact |
|
(517)
|
(46)
|
|
|
| Other |
|
0
|
0
|
|
|
| Ending balance at original discount rate |
|
14,583
|
14,787
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
|
(1,938)
|
856
|
|
|
| Balance, end of period |
|
12,645
|
15,643
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
55,506
|
70,643
|
71,668
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(7,310)
|
9,401
|
14,086
|
|
|
| Beginning balance at original discount rate |
62,816
|
61,242
|
57,582
|
|
|
| Adjustments |
|
|
134
|
|
110
|
| Effect of actual variances from expected experience |
|
|
(122)
|
|
289
|
| Adjusted beginning of year balance |
|
61,254
|
57,981
|
|
|
| Issuances |
|
4,393
|
5,287
|
|
|
| Interest accrual |
|
2,620
|
2,393
|
|
|
| Benefit payments |
|
(4,203)
|
(4,336)
|
|
|
| Foreign exchange impact |
|
(996)
|
(63)
|
|
|
| Other |
|
(252)
|
(20)
|
|
|
| Ending balance at original discount rate |
|
62,816
|
61,242
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
|
(7,310)
|
9,401
|
|
|
| Ending balance |
|
55,506
|
70,643
|
|
|
| Net liability for future policy benefits, end of period |
|
42,861
|
55,000
|
|
|
| Liability for future policy benefits for certain participating contracts |
|
1,352
|
1,397
|
|
|
| Liability for universal life policies with secondary guarantees and similar features |
|
3,355
|
5,007
|
|
|
| Deferred profit liability |
|
2,303
|
2,236
|
|
|
| Other reconciling items |
|
2,043
|
2,759
|
|
|
| Future policy benefits for life and accident and health insurance contracts |
|
51,914
|
66,399
|
|
|
| Less: Reinsurance recoverable: |
|
(24,078)
|
(32,586)
|
|
|
| Net liability for future policy benefits after reinsurance recoverable |
|
27,836
|
33,813
|
|
|
| Life and Retirement | Individual Retirement |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
0
|
0
|
0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Beginning balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in cash flow assumptions |
|
0
|
0
|
|
0
|
| Effect of actual variances from expected experience |
|
0
|
0
|
|
0
|
| Adjusted beginning of year balance |
0
|
0
|
0
|
|
|
| Issuances |
0
|
0
|
0
|
|
|
| Interest accrual |
0
|
0
|
0
|
|
|
| Net premium collected |
0
|
0
|
0
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
0
|
0
|
0
|
|
|
| Ending balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Balance, end of period |
0
|
0
|
0
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
1,223
|
1,373
|
1,322
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(167)
|
95
|
156
|
|
|
| Beginning balance at original discount rate |
1,390
|
1,278
|
1,166
|
|
|
| Adjustments |
|
0
|
0
|
|
0
|
| Effect of actual variances from expected experience |
|
(5)
|
(30)
|
|
1
|
| Adjusted beginning of year balance |
1,385
|
1,248
|
1,167
|
|
|
| Issuances |
173
|
216
|
172
|
|
|
| Interest accrual |
55
|
42
|
41
|
|
|
| Benefit payments |
(128)
|
(116)
|
(101)
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
0
|
0
|
(1)
|
|
|
| Ending balance at original discount rate |
1,485
|
1,390
|
1,278
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(132)
|
(167)
|
95
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Ending balance |
1,353
|
1,223
|
1,373
|
|
|
| Net liability for future policy benefits, end of period |
$ 1,353
|
$ 1,223
|
$ 1,373
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
7 years 9 months 18 days
|
7 years 7 months 6 days
|
8 years 7 months 6 days
|
|
|
| Life and Retirement | Group Retirement |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 0
|
$ 0
|
$ 0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Beginning balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in cash flow assumptions |
|
0
|
0
|
|
0
|
| Effect of actual variances from expected experience |
|
0
|
0
|
|
0
|
| Adjusted beginning of year balance |
0
|
0
|
0
|
|
|
| Issuances |
0
|
0
|
0
|
|
|
| Interest accrual |
0
|
0
|
0
|
|
|
| Net premium collected |
0
|
0
|
0
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
0
|
0
|
0
|
|
|
| Ending balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Balance, end of period |
0
|
0
|
0
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
211
|
264
|
279
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(2)
|
46
|
63
|
|
|
| Beginning balance at original discount rate |
213
|
218
|
216
|
|
|
| Adjustments |
|
0
|
0
|
|
0
|
| Effect of actual variances from expected experience |
|
(2)
|
(2)
|
|
(1)
|
| Adjusted beginning of year balance |
211
|
216
|
215
|
|
|
| Issuances |
18
|
12
|
21
|
|
|
| Interest accrual |
11
|
10
|
11
|
|
|
| Benefit payments |
(26)
|
(26)
|
(28)
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
0
|
1
|
(1)
|
|
|
| Ending balance at original discount rate |
214
|
213
|
218
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
3
|
(2)
|
46
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Ending balance |
217
|
211
|
264
|
|
|
| Net liability for future policy benefits, end of period |
$ 217
|
$ 211
|
$ 264
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
6 years 9 months 18 days
|
6 years 10 months 24 days
|
7 years 9 months 18 days
|
|
|
| Life and Retirement | Life Insurance |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 11,654
|
$ 14,369
|
$ 13,793
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,872)
|
706
|
1,374
|
|
|
| Beginning balance at original discount rate |
13,526
|
13,663
|
12,419
|
|
|
| Effect of changes in cash flow assumptions |
|
34
|
123
|
|
164
|
| Effect of actual variances from expected experience |
|
62
|
(79)
|
|
371
|
| Adjusted beginning of year balance |
13,622
|
13,707
|
12,954
|
|
|
| Issuances |
1,277
|
1,358
|
1,727
|
|
|
| Interest accrual |
437
|
397
|
392
|
|
|
| Net premium collected |
(1,464)
|
(1,418)
|
(1,364)
|
|
|
| Foreign exchange impact |
265
|
(517)
|
(46)
|
|
|
| Other |
11
|
(1)
|
0
|
|
|
| Ending balance at original discount rate |
14,148
|
13,526
|
13,663
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,482)
|
(1,872)
|
706
|
|
|
| Reclassified to Liabilities held for sale |
(4,287)
|
|
|
|
|
| Balance, end of period |
8,379
|
11,654
|
14,369
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
21,179
|
27,442
|
27,918
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(3,424)
|
2,717
|
4,351
|
|
|
| Beginning balance at original discount rate |
24,603
|
24,725
|
23,567
|
|
|
| Adjustments |
|
62
|
140
|
|
193
|
| Effect of actual variances from expected experience |
|
122
|
(94)
|
|
413
|
| Adjusted beginning of year balance |
24,787
|
24,771
|
24,173
|
|
|
| Issuances |
1,266
|
1,374
|
1,713
|
|
|
| Interest accrual |
908
|
876
|
876
|
|
|
| Benefit payments |
(1,921)
|
(1,757)
|
(1,981)
|
|
|
| Foreign exchange impact |
345
|
(657)
|
(60)
|
|
|
| Other |
10
|
(4)
|
4
|
|
|
| Ending balance at original discount rate |
25,395
|
24,603
|
24,725
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(2,745)
|
(3,424)
|
2,717
|
|
|
| Reclassified to Liabilities held for sale |
(5,119)
|
|
|
|
|
| Ending balance |
17,531
|
21,179
|
27,442
|
|
|
| Net liability for future policy benefits, end of period |
$ 9,152
|
$ 9,525
|
$ 13,073
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
12 years 9 months 18 days
|
12 years 2 months 12 days
|
14 years 4 months 24 days
|
|
|
| Life and Retirement | Institutional Markets |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 0
|
$ 0
|
$ 0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Beginning balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in cash flow assumptions |
|
0
|
0
|
|
0
|
| Effect of actual variances from expected experience |
|
0
|
0
|
|
0
|
| Adjusted beginning of year balance |
0
|
0
|
0
|
|
|
| Issuances |
0
|
0
|
0
|
|
|
| Interest accrual |
0
|
0
|
0
|
|
|
| Net premium collected |
0
|
0
|
0
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
0
|
0
|
0
|
|
|
| Ending balance at original discount rate |
0
|
0
|
0
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
0
|
0
|
0
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Balance, end of period |
0
|
0
|
0
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
12,464
|
13,890
|
11,630
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(2,634)
|
870
|
1,654
|
|
|
| Beginning balance at original discount rate |
15,098
|
13,020
|
9,976
|
|
|
| Adjustments |
|
0
|
(6)
|
|
0
|
| Effect of actual variances from expected experience |
|
15
|
3
|
|
(3)
|
| Adjusted beginning of year balance |
15,113
|
13,017
|
9,973
|
|
|
| Issuances |
5,339
|
2,782
|
3,366
|
|
|
| Interest accrual |
664
|
459
|
380
|
|
|
| Benefit payments |
(1,087)
|
(821)
|
(696)
|
|
|
| Foreign exchange impact |
359
|
(339)
|
(3)
|
|
|
| Other |
0
|
0
|
0
|
|
|
| Ending balance at original discount rate |
20,388
|
15,098
|
13,020
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,906)
|
(2,634)
|
870
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Ending balance |
18,482
|
12,464
|
13,890
|
|
|
| Net liability for future policy benefits, end of period |
$ 18,482
|
$ 12,464
|
$ 13,890
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
12 years 1 month 6 days
|
10 years 9 months 18 days
|
13 years
|
|
|
| Life and Retirement | Other |
|
|
|
|
|
| Liability for Future Policy Benefit, Expected Net Premium [Roll Forward] |
|
|
|
|
|
| Balance, beginning of year |
$ 991
|
$ 1,274
|
$ 1,506
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(66)
|
150
|
249
|
|
|
| Beginning balance at original discount rate |
1,057
|
1,124
|
1,257
|
|
|
| Effect of changes in cash flow assumptions |
|
21
|
0
|
|
(72)
|
| Effect of actual variances from expected experience |
|
20
|
7
|
|
14
|
| Adjusted beginning of year balance |
1,098
|
1,131
|
1,199
|
|
|
| Issuances |
0
|
0
|
0
|
|
|
| Interest accrual |
46
|
48
|
54
|
|
|
| Net premium collected |
(118)
|
(123)
|
(129)
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
(9)
|
1
|
0
|
|
|
| Ending balance at original discount rate |
1,017
|
1,057
|
1,124
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(44)
|
(66)
|
150
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Balance, end of period |
973
|
991
|
1,274
|
|
|
| Liability for Future Policy Benefit, Expected Future Policy Benefit [Roll Forward] |
|
|
|
|
|
| Beginning balance |
20,429
|
27,674
|
30,519
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(1,083)
|
5,673
|
7,862
|
|
|
| Beginning balance at original discount rate |
21,512
|
22,001
|
22,657
|
|
|
| Adjustments |
|
76
|
0
|
|
(83)
|
| Effect of actual variances from expected experience |
|
0
|
1
|
|
$ (121)
|
| Adjusted beginning of year balance |
21,588
|
22,002
|
22,453
|
|
|
| Issuances |
4
|
9
|
15
|
|
|
| Interest accrual |
1,026
|
1,233
|
1,085
|
|
|
| Benefit payments |
(1,503)
|
(1,483)
|
(1,530)
|
|
|
| Foreign exchange impact |
0
|
0
|
0
|
|
|
| Other |
(24)
|
(249)
|
(22)
|
|
|
| Ending balance at original discount rate |
21,091
|
21,512
|
22,001
|
|
|
| Effect of changes in discount rate assumptions (AOCI) |
(437)
|
(1,083)
|
5,673
|
|
|
| Reclassified to Liabilities held for sale |
0
|
|
|
|
|
| Ending balance |
20,654
|
20,429
|
27,674
|
|
|
| Net liability for future policy benefits, end of period |
$ 19,681
|
$ 19,438
|
$ 26,400
|
|
|
| Weighted average liability duration of the liability for future policy benefits (in years) |
11 years 6 months
|
11 years 4 months 24 days
|
13 years 8 months 12 days
|
|
|