v3.25.2
DERIVATIVE INSTRUMENTS - Derivatives and Hedging Instruments Gain (Loss) Summary (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in other comprehensive income on derivative $ 1 $ 6 $ 3 $ 0
Unrealized foreign currency translation gains (losses) during period 179 (340) 531 (838)
Derivative and non-derivative hedging instruments, gain (loss) recognized in other comprehensive income, before tax (219) 420 (601) 801
Net investment income        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative $ 0 $ 0 $ 0 $ 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Net investment income Net investment income Net investment income Net investment income
Net investment gains (losses)        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative $ 23 $ (275) $ (22) $ (490)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Net investment gains (losses) Net investment gains (losses) Net investment gains (losses) Net investment gains (losses)
Reclassification Out Of Accumulated Other Comprehensive Income        
Derivative Instruments, Gain (Loss) [Line Items]        
Derivative instruments, cash flow hedges, gains (losses) reclassified from accumulated other comprehensive income into earnings $ (1) $ (1) $ (2) $ (2)
Cash flow hedges        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in other comprehensive income on derivative 1 0 3 0
Cash flow hedges | Net investment income        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 0 0 0 0
Cash flow hedges | Net investment gains (losses)        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative (1) [1] (1) [1] (2) [2] (2) [2]
Cash flow hedges | Foreign currency swaps | Variable Interest Entity        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in other comprehensive income on derivative 1 0 3 0
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment income        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 0 0 0 0
Cash flow hedges | Foreign currency swaps | Variable Interest Entity | Net investment gains (losses)        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative (1) (1) (2) (2)
Net investment hedge        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 26 32 62 76
Unrealized foreign currency translation gains (losses) during period (220) 420 (604) 801
Net investment hedge | Non-derivative hedging instruments        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 0 0 0 0
Unrealized foreign currency translation gains (losses) during period (139) 265 (379) 501
Net investment hedge | Foreign currency forwards        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 26 32 62 76
Unrealized foreign currency translation gains (losses) during period (81) 155 (225) 300
Non-qualifying strategies        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative (2) (306) (82) (564)
Non-qualifying strategies | Foreign currency swaps | Variable Interest Entity        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 30 (128) (27) (216)
Non-qualifying strategies | Foreign currency swaps | Consolidated Entity Excluding Variable Interest Entities (VIE)        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative 0 1 0 2
Non-qualifying strategies | Foreign currency forwards        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative (7) 0 (7) 17
Non-qualifying strategies | Foreign currency options        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative (14) (141) (19) (182)
Non-qualifying strategies | Interest rate swaps        
Derivative Instruments, Gain (Loss) [Line Items]        
Gains (losses) recognized in income on derivative $ (11) $ (38) $ (29) $ (185)
[1] Impact of cash flow hedges reported as net investment gains (losses) includes $1 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the three-month period ended June 30, 2025, and $1 of losses during the three-month period ended June 30, 2024.
[2] Impact of cash flow hedges reported as net investment gains (losses) includes $2 of losses reclassified from accumulated other comprehensive income (loss) into earnings during the six-month period ended June 30, 2025, and $2 of losses during the six-month period ended June 30, 2024.